Rich Dad Poor Dad

Rich Dad Poor Dad - Rich Dad Poor Dad Rich Dad Poor Dad is...

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Rich Dad Poor Dad Rich Dad Poor Dad is a novel by Robert T. Kiyosaki in which he explains and advises people in the area of personal finances based on his childhood experiences. Growing up, he had two dads: Rich dad and Poor dad. One was his father and one was his best friends father. One was an eighth grade dropout while one was a Harvard graduate with a phd. One left his family with virtually nothing except perhaps some debt while one left an empire. Robert’s father was poor dad, the dad that graduated Harvard and died in debt. Luckily for Robert, Rich dad managed to instill in him priceless knowledge and lessons on his financial planning and dealings for the future. One of the first things you have to do is understand financial literacy. That is, you have to understand just how your finances work and the differences of them. Even the difference between liabilities and assets, something that most consider simple and as plain as night and day to tell apart can sometimes be fuzzy and many people confuse the two. A good term to remember that Kiyosaki uses is “an asset earns you money and a liability burns your money”. When you put money into assets such as stocks, bonds and investment properties you  can earn money or income from them. Poor dad saw them as liabilities.  Liabilities are 
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Rich Dad Poor Dad - Rich Dad Poor Dad Rich Dad Poor Dad is...

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