The book rich dad poor dad is about a boy who has two “Dads”, his biological dad (Poor Dad) and his rich Dad (his friend’s Dad) The story starts with an anecdote about his childhood and what he learned from both of his “Dads”. After the first chapter, the book continues to talk about assets and liabilities and how poor people think that they have assets that are liabilities, it also talks about how you need to make your money work for you.
When I first wanted to read this book, I thought that I would not be interested enough to continue reading, however, I was proven wrong. This book was really interesting and the first chapter really pulled me in. It helped me really look at money in a different way which surprised me because a lot of people talk about certain books and how they changed how they look at money, and I think, that wouldn’t happen to me but it did, it really changed how I look at money. I feel like I would have got even more out of this book if I read it rather than listening to the audiobook, but I feel like if I had read it I would have felt like I didn’t have time, but by listening to it I felt I had no excuses.
This book made me think a lot more about investing and what I am spending my money on. My main takeaways are that being rich is not about having the money. If you win the lottery and you win one million dollars, are you rich? Yes, of course, you are rich, rich is defined as “having a great deal of money or assets” (google) but in a year when all of your money is gone are you still rich? No, because they wasted all their money on liabilities they thought were assets. However, if you have just gotten out of university with a degree in business, and you are $5000 in debt are you rich? Most people would say no because they see the debt and that is all they look at, however, going back to the definition of rich “having a great deal of money or assets” (google) there is one word in there that qualifies you as rich and also what I am trying to acquire as well, that word is assets. Knowledge is your greatest asset because you can lose all your money but what do you still have? Knowledge. That is one of the most important things this book has taught me, that is what I am trying to acquire and that is also why I started this blog, to try to give others my knowledge and to try to motivate me to gain more.