Rich Dad, Poor Dad – the conclusion

I just finished reading the book “Rich Dad, Poor Dad”. As I’ve wrote in earlier blog, this is one of the 3 best books that Robert Kiyosaki wrote. Today I’m going to evaluate the book based upon my observations.

In day 1, I got excited due to the fact that the introduction of the book was so exciting that it contains rich information and facts that it depicts the real world situations. Most importantly the situation of Rich Dad and Poor Dad. Both of these dads were picturing the real-life situations of what a person could end up based on his/her mindset of the money. So let me explain the good and bad about this book.

The Good

• Rich Dad and Poor Dad’s perspective reflects reality – As I explained earlier, the first chapter of the book depicts the perspective of both Rich Dad and Poor Dad to compare which of them were correct and practical in modern world situation. For instance, poor dad’s perspective of money is evil, while rich dad’s perspective is good. Poor dad’s focus is to gain good scholastic grades and academic performance and land a secure job, while rich dad’s focus is to gain financial freedom to make money working for you which is opposite of what poor dad believed. I believe their points were both good and applicable and with that I’ve learned from both of their perspective. This is one of the good points of the book. It is friendly towards your mindset of who you wanted to be in the future. It doesn’t compete who was the best among of the mindset and who is not applicable to other people. But for the most part, rich dad’s perspective were explained here as this book teaches us how to be financially free, and I wanted to be financially free so to speak.
• Possible potential investments – Another good point of the book is it teaches us possibilities in which where we can invest to make our money grow should we involve ourselves in investment. For the most part, Kiyosaki’s strategy was to make money in real estate and I noticed that was his biggest asset in his collection of assets. But it was a good example.
• Defining what are assets and what are expenses and liabilities – “Many people think that their greatest asset is a house” said Kiyosaki. He defines what purchases we made are assets and what are liabilities and expenses that are making us a slave for money. This is in my opinion one of the greatest learnings and points I’ve come across this book. In fact, learning what is asset and what is liability is the basic fundamentals that we can learn if we wanted to be financially free. “At least we should learn accounting, managing finances, and how the law regulates in order to be truly financially free” he added.
• Strategies for investment – For increasing the odds of gaining returns from an investment, he shares his strategies for investments. The # 1 thing that he mentions always in this book is to read a lot of financial freedom books, join seminars, skim information within the internet and practice.
• Motivations for action – Never settle for less is what Kiyosaki is always imbibing within the course of this book. He listed his top 10 motivations so that we learn to be financially free in our own pace and feel motivated.

The Bad

• Repetitive statements – One thing that I observed into the book is his repetitive statement throughout the other chapters. Most of them were already reused from the previous chapters. Perhaps this book would be lesser boring and bearable if he avoids mentioning he already mentioned in the previous chapter.
• Boring trajectory – I mentioned earlier that at the first part of the book I got excited since I have learned the perspective of both rich dad and poor dad and realized that it’s how the world works and it’s happening right now. But over the course of the chapters, that excitement wanes and fading due to repetitiveness of ideas over and over again. Some parts of the book tend to be monotonous and storytelling of success in his real estate investment success. This were used many times in the book. But I still read it till the end to see how it will deliver the final blow at the end of the chapter. And the good news is, most of the greatest advices were in the last chapter. So at the end of the day, he saves the best for last.

Final thoughts

I believe I already said much about the book. Despite of the drawbacks, I still recommend this to anyone who likes to become rich and financially free in the future. This will help you to get started in the road to financial freedom. I am still planning to skim the book in the future to jot down all the important notes that I can possibly use for my venture to financial freedom.