One book that many investors and financial gurus refer to as highly influential in their thinking is Robert Kiyosaki’s bestselling Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not. I thought I had read this book previously, but recently realized I had not and immediately added it to my list. I was not disappointed.
Rich Dad Poor Dad is a distillation of advice that Robert Kiyosaki’s two “dads” gave him from early childhood through adulthood. Throughout the books, he compares and contrasts the advice, spending habits, and lifestyles of these two men. Just as intriguing as the title, is the initial curiosity of how Kiyosaki can lay claim to having two fathers. (It’s neither as complicated nor as breathtaking as it might sound, but I’ll avoid being the spoiler here.) Ironically, as a child, Kiyosaki’s “rich” schoolmates taunted both of the families of the poor dad and the rich dad for not being rich.
As far as inspirational quality, Rich Dad Poor Dad is comparable to The Millionaire Next Door (Thomas J. Stanley), urging readers to learn to make the money work for them, rather than the other way around. Comparatively, Kiyosaki draws on primarily his own experience and that of his “two dads,” while Stanley’s anecdotes draw from a much larger pool of personal examples. There was an abundance of helpful material for me within this book, and it touched on a number of areas that I hadn’t directly considered after reading The Millionaire Next Door.
If you’re like me and didn’t receive much financial education (either passive or direct), you’ll probably find this type of book fairly informative and helpful. And even for those who did have such input, Kiyosaki’s insight may provide a helpful perspective from an alternative angle. (At the same time, I know some have concerns that this book is little more than a sales pitch for Kiyosaki’s training material; I can see where some may see that, but at the same time I definitely gained a good bit from reading this book.)