Rich Dad Poor Dad
The book is the story of a person (the narrator and author) who has two fathers: the first was his biological father – the poor dad - and the other was the father of his childhood best friend, Mike – the rich dad. Both fathers taught the author how to achieve success but with very disparate approaches. It became evident to the author which father's approach made more financial sense. Throughout the book, the author compares both fathers – their principles, ideas, financial practices, and degree of dynamism and how his real father, the poor and struggling but highly educated man, paled against his rich dad in terms of asset building and business acumen.
The author compares his poor dad to those people who are perpetually scampering in the Rat Race, helplessly trapped in a vicious cycle of needing more but never able to satisfy their dreams for wealth because of one glaring lack: 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, by contrast, represents the independently wealthy core of society who deliberately takes advantage of the power of corporations and their personal knowledge of tax and accounting (or that of their financial advisers) which they manipulate to their advantage.
The book’s theme reduces to two fundamental concepts: a can-do attitude and fearless entrepreneurship. The author highlights these two concepts by providing multiple examples for each and focusing on the need for financial literacy, how the power of corporations contribute to making the wealthy even wealthier, minding your own business, overcoming obstacles by not fostering laziness, fear, cynicism and other negative attitudes, and recognizing the characteristics of humans and how their preconceived notions and upbringing hamper their financial freedom goals.
The author presents six major lessons which he discusses throughout the book:
The rich don’t work for money
The importance of financial literacy
Minding Your own business
Taxes and corporations
The rich invent money
The need to work to learn and not to work for money
Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! (2000)
Rich Dad's Guide to Investing gives the reader a roadmap to becoming the Ultimate Investor, one who uses other peoples' money to create investments that people want to buy into. While the first two books use broad strokes, this one goes into much more detail about actually implementing some of the strategies heretofore discussed.
Cashflow Quadrant: Rich Dad's Guide to Financial Freedom
Cashflow Quadrant is a personal finance and investing book written with Sharon Lechter, C.P.A. as the sequel to Rich Dad, Poor Dad. In it, Kiyosaki discusses what he calls the cashflow quadrant: a grid consisting of the letters "E", "S", "B", and "I." The cashflow quadrant itself is just an illustrative tool to show the difference between Employees, Self Employed/Small Business owners, Business owners (not directly involved in the day-to-day operation of the company), and Investors. Kiyosaki discusses the differences between concepts and ideas characteristic of each quadrant, particularly as they relate to passive income and tax advantages.
Rich Kid, Smart Kid
Rich Kid, Smart Kid is a retelling of Kiyosaki's views, condensed and clarified to try and help parents better understand and teach their children key financial concepts. It includes a series of activities that a parent can do with their child to make them aware of property, finance and the various ways and places businesses make money.
Why We Want You To Be Rich (2007, with Donald Trump)
Why We Want You To Be Rich is a book co-authored by Robert Kiyosaki and Donald Trump. It encourages individuals to become financially literate to combat the upcoming problems facing America, such as the shrinking middle class and the entitlement mentality.
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