The best wealth building book

If you haven't read it, you should. While I don't agree with everything he says, I do agree with over 90% of it. Many wealthy real estate people I know started with this book and it's why my kids got it from me.

Confession: I was both a successful stock and real estate investor long before I read this book. Really I was just seeing if there was something really good I could give my kids now that they were getting older. This was it!

I've summarized the book below. If you want my detailed notes on the book, just send me an email and I'll send them to you.

"Rich Dad Poor Dad" by Robert Kiyosaki is a groundbreaking personal finance book that challenges conventional wisdom about money and wealth. The book tells the story of Kiyosaki's two "dads" – his biological father (Poor Dad) and the father of his best friend (Rich Dad), who impart very different lessons about money and life.

The central theme of the book is financial education and how it can be the key to achieving financial success. Here is a concise summary of the key takeaways from "Rich Dad Poor Dad":

1. The Rat Race: Kiyosaki introduces the concept of the "rat race," where individuals work hard to earn a paycheck, only to spend it on bills and expenses, leaving little for personal wealth building.

2. Assets vs. Liabilities: The author emphasizes the importance of understanding the difference between assets (things that put money in your pocket) and liabilities (things that take money out of your pocket). Building and acquiring assets is a path to wealth.

3. The Power of Financial Education: Kiyosaki advocates for financial education as the primary means to achieving financial independence. He believes that schools do not teach us about money and that individuals must seek out this knowledge.

4. Entrepreneurship and Investing: The book encourages readers to explore entrepreneurship and investing as ways to break free from the cycle of the rat race. Kiyosaki argues that taking calculated risks and acquiring income-generating assets are essential steps to building wealth.

5. The Importance of Mindset: Rich Dad instills in Kiyosaki the importance of having a wealth-oriented mindset. This includes taking control of your financial future, being open to opportunities, and continuously learning and adapting.

6. The Wealthy Don't Work for Money: Kiyosaki challenges the idea of working for money and suggests that people should make money work for them through wise investments and entrepreneurship.

"Rich Dad Poor Dad" is a thought-provoking book that encourages readers to think differently about money, assets, and financial education. Kiyosaki's concepts have inspired many to take control of their financial destinies and seek alternative paths to wealth. The book's core message is that true financial independence comes from developing the mindset and skills to make your money work for you, rather than being trapped in the never-ending cycle of the rat race.