In this episode of Book Bites podcast, we bring you a summary of the book Rich Dad Poor Dad by Robert Kiyosaki, who is an American businessman and author. He is the founder of the Rich Dad Company, which provides personal finance and business education.
Rich Dad Poor Dad is one of the most influential personal finance books of all time. It has sold over 32 million copies worldwide and has been translated into 51 languages. The book has helped millions of people around the world gain a better understanding of money, investing, and building wealth.
Rich Dad Poor Dad is a personal finance book that advocates financial literacy and building wealth through investing in assets, such as businesses and real estate, rather than relying solely on a steady paycheck from a job. The book is based on Kiyosaki's experiences growing up with two father figures: his biological father, who was a highly educated but financially struggling government employee (the "poor dad"), and his best friend's father, who was a wealthy entrepreneur (the "rich dad").
The book emphasizes the importance of developing a mindset for wealth creation and teaches readers how to break free from the "rat race" of living paycheck to paycheck. It encourages readers to take control of their financial future by acquiring financial intelligence, minimizing liabilities, and investing in income-generating assets.