Book Review

Book Review

Introduction

The book “Rich Dad, Poor Dad” is written Robert T. Kiyosaki in association with L. Lechter. It is about a child with two fathers, first being his biological father and the second being the father of his best friend from childhood. Both the fathers differed in the financial factor as the biological father was poor and the other father was rich. The book revolves around how both fathers differentiated in their approaches while teaching the narrator about how to achieve success. The book also identifies the approach that was chosen by the narrator and provides helpful comparison between the two fathers and their financial practices, degree of dynamism and principles.

The book also identifies the efforts of the poor father and how he paled against the rich father in regards of business acumen and asset building. The author refers to the poor father as people who perpetually scamper in the rat race, trying very hard to become rich but are unable to satisfy their needs and wants due to the lack of financial literacy. This is also due to the vicious cycle that every poor man is part of as they always want more.

Discussion

The author also highlights the fact that students spend ample of time in the school learning about different problems of the world, but they are not provided with adequate knowledge about money. On the other hand the book outlines the characteristics of the rich father such as knowledge of accounting and tax. These assist the rich father in taking advantage of various powers of corporations (Kiyosaki & Lechter, 2000). The book discusses two major concepts with the help of useful examples emphasizing on the necessity for financial literacy. The concepts discussed in the books are “fearless entrepreneurship” and “a can do attitude”. The author also emphasizes on the importance of power of corporations and the role in making an individual rich and even richer, overcoming hurdles by not fostering laziness, cynicism, fear and other negative attitudes.

There are six lessons that are narrated by the author the first one being that rich people do not work for money. It is quite certain to say that the title is a little ambiguous and can lead do different understandings. However, what the author tries to narrate in his book is that the rich people do not work hard enough to become rich, as they usually work to ...