Rich Dad, Poor Dad (Jake Bailly) (Mike Chieco)

Rich Dad Poor Dad, Robert Kiyosaki, Warner Business Books, 207 pages

I found this book in my Economics Classroom.

Summary: This book was written about Robert Kiyosaki’s two different economic educations. A rich dad and a poor dad. The poor dad was his biological father and believed in education and finding a steady job. He also believes you should buy material things that you do not need or can’t afford. The rich dad was his best friend’s dad. He didn’t bother with education and took advantage of the system with knowledge on taxes and accounting. The rich dad never said he couldn’t afford it, he always thought of how he could afford. The book basically encourages confidence in the economy.

The audience of this book is for people looking for financial help, and those of whom have never really had an economic education.

The style of this book is educational. He picks a main theme for each dad and follows along those lines.

“I don’t work for money” were words he would repeat over and over, “Money works for me!”(17)

Passages

“I don’t work for money” were words he would repeat over and over, “Money works for me!”(17)

This passage relates directly to me. I am always looking for the easy way to make a quick buck and avoid doing any sort of manual labor.

“Once government got a taste of money, the appetite grew,” said rich dad. Your dad and I are exactly opposite. He’s a government.

I agree with this passage. In my economic class we are learning about the large amount that the government taxes us on. Once they realized they can tax us on anything they did. We have no other option but to shell out our hard earned money.

It is not gambling if you know what you’re doing. It is gambling is you’re just throwing money into a deal and praying.

I can directly relate to this. I unlike a lot of 17 year olds invest my money. In the beginning I would just hope to make money and sometimes I would and get greedy. Other times I would lose and feel crappy. I have learned to be patient and take small gains when you can. It is better than losing.

My Relationship

I really enjoyed this book since I could relate to it directly. The parts that spoke to me were the idea of the rich dad. The poor dad is similar to my parents. They are all about education. While I definitely agree and want to go to a good four year school, I am optimistic about investing and believe there are easier ways to cash in as long as you know your stuff.

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Rich Dad Poor Dad by Robert Kiyosaki
I found the book in Mr. Chaput’s class.

Summary: The book is the story of a person who has two fathers: the poor dad - and the rich dad. Both fathers taught the author how to achieve success but with very different approaches. The author compares his poor dad to those people who are in the Rat Race, helplessly trapped in a vicious cycle of needing more, but never able to satisfy their dreams for wealth because of a lack of financial literacy. They spend so much time in school learning about the problems of the world, but have not acquired any valuable lessons about money, simply because it is never taught in school. His rich dad, represents the independently wealthy people who deliberately takes advantage of the power of corporations and their personal knowledge of tax and accounting towards their advantage.

The AUDIENCE intended for this novel is anyone interested in becoming financially intelligent, or anyone interested in economics in general. Gender does not have an effect on this read.

Kiyosaki’s STYLE in this book is that of a sarcastic, but intelligent man. He gives yu great information, while be clever with his words.
"Most people are poor because when it comes to investing, the world is filled with Chicken Littles running around yelling, "The sky is falling. The sky is falling."

Passages:
1. "Many of today's youth have credit cards before they leave high school, yet they have never had a course in money or how to invest it, let alone understand how compound interest works on credit cards."
Kiyosaki uses his knowledge of how the world works today, and incorporates it directly into this great book. This passage accurately describes what I think of the world today. We think that because we have a credit card, we don’t need to know how to use it

2. “My poor dad would also say, "I'm not interested in money," or "Money doesn't matter." My rich dad always said, "Money is power."
Again, Robert is showing me certain things I have never thought about before. These ideas translate directly into the real world, and I believe that now after reading this novel, I am more financially savvy than those who haven’t read this book.

3. “Money is one form of power. But what is more powerful is financial education. Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth. The reason positive thinking alone does not work is because most people went to school and never learned how money works, so they spend their lives working for money.”
Financial education is the main theme from this novel. It’s a direct correlation to the real world and our economy. Especially in these tough times, this book is a perfect fit for what is surrounding me these days.