Rich Dad Poor Dad is a modern classic of personal finance and our favorite
finance book of all time. Although the book is controversial and often takes
criticism, people still believe it’s worth reading. Otherwise, it wouldn’t
have sold over 32 million copies. Robert Kiyosaki tells the story of his two
Dad’s in his childhood. His own father and the father of his best friend.
While he speaks affectionately of both, they were very different when it came
to dealing with finances.
Rich Dad Poor Dad

The summary on Blinkist starts with the idea that many
of us are too afraid of being branded as a weirdo, in order to exit the rat
race. We let the two main emotions everyone has around money dominate our
decisions: fear and greed. That’s why we still stick to the outdated mantra “Go
to school, go to college, get a job, play it safe.” when in reality no job is
safe any more. For example, when you get a raise at your job, a wise choice
would be to invest the extra money. Put it into something that builds wealth
like stocks or bonds, which has risk, but a lot of potential. Maybe you find a
good fund with a 60% chance to double your money within a year, but a 40% chance
of losing it all. However, most likely your fear of losing the money altogether
will keep you from doing so. But when your greed takes over, you might then
spend the extra money on an improved lifestyle. You might buy a fancy new car,
and the payments eat up the money, for instance. This way you’re almost certain
to lose 100%. This already gives you a glimpse of how important it is to educate
yourself financially. Since we receive no financial education in school or
college, sadly, this is entirely up to you. Look around and you’ll see plenty of
financially ignorant people in your own life. Just take a look at local
politicians. Is their city in debt? Your mayor might be great, but
unfortunately, he probably doesn’t know how to deal with money