If you are reading my blog about financial independence, you must have heard about this book “Rich Dad, Poor Dad” by Robert Kiyosaki. It was first published in 1997 and became an instant hit. Although I heard about it back then, I didn’t pay attention to it. I was a graduate student. Although I was poor, I have not been worried about money. We had no money, but time is on our side, isn’t it? There are so much fun in life to have, I didn’t have time to worry about anything else. Boy I couldn’t be more wrong!
Fast forward to 2012, I was in the middle of my career, and wondering how I could get out of my situation. On the surface it looked fine, but deep down, I knew I had to break free. So one day I picked up “Rich Dad, Poor Dad” and started reading it.
And how I wished I have read it 15 years ago!
At the beginning I was disappointed that this book about financial education didn’t teach me anything about secret formulas of getting rich. Instead, Robert Kiyosaki told a story of his two dads and how he learned from them their different views of personal finance. He is such a great story teller that once I started reading the book, I can hardly put it down.
At the end I realized I have learned something way more valuable than any “get-rich-overnight” secret formula. Trust me, if you have somehow suddenly become rich, say by inheriting $1M from Uncle Joe, or by hitting lottery, but without the right knowledge of personal finance, you will become poor in no time. There are way too many examples like that in reality already.
I don’t know how many times I have read this book since then, and I always learn something new each time. But the most essential of what I have learned from this book, which was not taught in schools back then, could be summarized in a few bullet points. I still highly recommend you read the original book, because there are so much more knowledge than what I could summarize in the next blog.
To be continued soon.