Rich Dad Poor Dad By Robert T. Kiyosaki

Rich Dad Poor Dad follows snippets of Robert Kiyosakis childhood as he starts learning about money from the young age of nine. The name of the book comes from Kiyosakis real father who was the poor dad and his friends father who was the rich dad.

His real father was a professor who earned a lot yet always struggled financially, while his friends father, an entrepreneur who left school at an early age ended up as one of the richest people in Hawaii. Kiyosaki often tried to understand the perspective of both his rich dad and poor dad, however, his rich dads advice is what helped him gain knowledge of finances and acquire wealth.

The book introduces the concepts of cash flow, balance sheet, income statement, assets, and liabilities in a simple manner, easy for everyone to understand.

The author wishes that everyone was taught the basics of finances from childhood like he was, which he lists as one of the reasons for writing this book.

The overarching theme of Rich Dad Poor Dad is how to use money as a tool for wealth development.

It abolishes the myth that the rich are born rich, explains why your personal residence may not really be an asset, describes the real difference between an asset and a liability, and much more.