Robert Kiyosaki frames his personal-finance book around two father figures from his childhood in Hawaii. His own father was a highly educated government employee who worked hard yet struggled with money. The father of his best friend left school early but built a string of businesses and taught the boys to make money work for them rather than working for money.
From that contrast Kiyosaki draws a set of lessons: the rich buy assets that generate income while the middle class buy liabilities they believe are assets, a house being his most controversial example. He urges readers to learn accounting, investing, markets and law, to mind their own business in the sense of building an asset column, and to use corporations and taxes to their advantage.
Written with co-author Sharon Lechter, the book was originally self-published and grew into a global bestseller and a large brand of games and seminars. It has been criticised for vague advice and for the uncertain reality of the rich dad character, but it is widely credited with getting ordinary readers to think about cash flow and passive income.
Book details
| Author | Robert T. Kiyosaki |
|---|---|
| First published | 1997 |
| Original language | English |
| Genre | Business |
| Type | Non-fiction |
| Pages (approx.) | 207 |
| Setting | Hawaii |
Themes
- Financial literacy
- Assets and liabilities
- Entrepreneurship
- Passive income
- Education
Who should read it
Readers new to personal finance who want a motivational push to think about investing and side income rather than only a salary.
If you liked this, try
- The Psychology of Money
- Think and Grow Rich
- The Millionaire Next Door