Sazzadur Rahman Rafi
Rich Dad and Poor Dad is a personal finance book written by Robert T KIYOSAKI. I first read the book after graduating from college. During that time, I could not reflect on this book properly as I did not have life experience and business knowledge to understand the big picture of this book properly. However, reading this book after several years with a better exposure to personal finance and business world helped me to understand the teaching of this book.
“Rich Dad, Poor Dad” is the story of two fathers; one has a collection of degrees and diplomas and the other is a high school drop-out. When the overqualified father dies, he will leave next to nothing behind, and even a few unpaid bills here and there. One of the fundamental lessons of the book, the book also mentioned an interesting fact that : rich don’t work for money; they make money work for them. I also like the learning by doing teaching method described by the author. Book also talked about the real difference between asset and liability. According to the author, asset is something that brings money into your pocket. On the other hand, liability is something that takes money out of our pocket. Book also touched topics like tax, personal skill development, entrepreneurship etc.
To Conclude, I would say rich dad talks about street smart and application of money in real life. On the other hand, poor dad talks about need of formal education and secured life. In my view, both are right; you just need to use the right wisdom in the proper context. I strongly believe you would love this book if you really want to know how you can handle your personal finance better.