Why do I choose this book?
I was interested in learning investment and business to make my income increase. When I looked for the list of books about investment, Rich dad Poor dad was one of the recommended books. It was a famous book that many people recommend to read if anyone wanted to be an intelligent investor. That’s why I chose it, one for broadening my knowledge about investment, and second, for the review.
What is this book about?
It included several stories about how the author learned about financial intelligence, from the time he was a 9-year-old boy until he became a well-known businessman and investor. The whole book comprised lessons that he learned from a rich dad (his friend’s dad), mistakes that he tried to avoid from his poor dad (his biological dad). He would like to deliver those lessons to readers and teach readers how to avoid the Rat Race (the main idea of the whole book).
What is my First Impression?
The book gave me a good impression at the beginning. It started with a boy who wanted to be rich. He tried to make money from his idea with his friend, but it failed. His poor dad gave him the advice to ask the rich dad about how to be rich. The first chapter of the book told the first lesson that 9-year-old Robert learned from the rich dad. It inspired and motivated me.
What do I think about this book?
Generally, the whole book delivers a clear message to most of us. We work eight hours a day, and maybe over time, but what we received is the salary which is taken apart by the government and other liabilities. We are the employees of everything: government (through paying taxes), of banks (through paying mortgage). Robert gave a clear statement throughout the book: Don’t work for money, let the money work for you.
For me, as a person who has a dream of starting a business, it was a good start to see what I should do and need to do. The strength of the book is that it gave me the feeling that I need to change my mind in business, investment and prepare for a new challenge. He told us the stories and the way of thinking of two dads, the rich one who was his friend’s dad (according to some analysis on the Internet, this dad may be a fictional character) and the poor one who was his birth dad. He helped us have a clear image of these two dads: one who was well educated and believed in the government but poor, while the other owned his business and owned his life.
For those who had a lack of knowledge in business and investment (like me), the book is the first one you should take a look. It gave me an idea that I overlooked: the house is not an asset, but our liabilities. Robert explained how it could be, and I found it reasonable. Furthermore, he focused so much on how we, as employees in companies, did not receive sufficient money as we expected. He classified how the balance sheets of a rich, a middle-class and a poor one look like. That was the summary all of us should know. He also recommended us to be financially intelligent.
Nevertheless, parts of the book did not make me agree. At some points, Robert was a bit too mean when he mentioned his poor dad, how the dad failed in becoming rich, and how he died broke. Additionally, in some parts of the book, the way he gave opinion might make readers feel that he was arrogant. It may create uncomfortable feelings for readers.
What is my Favorite quote(s)?
Start minding your business. Keep your daytime job, but start buying real estate, not liabilities.
This is not the best quote of the book, but that’s the one I have the feeling for it. Many people (like me) still need a job to create a stable income. Although I want to start a business, quitting the job and start a new (but risky) business may not be a good move. A daytime job is necessary, also to give us time and experience to learn about the market, to start buying assets.
Do I recommend it?
“Rich dad Poor dad” is a good book for a newbie in the market, to make a start for a wealthy future. I recommend you give this book a chance.