OOne dad would say, OThe love of money is the root of all evil.O The other, OThe lack of money is the root of all evil.OO
-Excerpt from Rich Dad, Poor Dad: What the Rich Teach their Kids About Money-That the Poor and Middle Class Do Not
Theme: Education and employment may not be the primary tool for financial well-being. Rather, the authors describe six guidelines for making money that could work for everyone.
Background: Rich Dad, Poor Dad is the story of how Robert T. Kiyosaki taught himself to be financially successful. Robert T. Kiyosaki was raised in the home of a father who was a teacher and public administrator. Robert and his friend Mike decided as boys that they wanted to learn to be rich, and after an attempt at making counterfeit money with a companion, Robert's father punished the boys and explained to them the illegal and immoral nature of what they had done. Admitting that he didn't know how to become rich himself, Robert's father suggested asking Mike's father, a successful entrepreneur, how to become rich. After that, Mike's father became Robert's financial guide and his so-called "Rich Dad," as well as his mentor, teaching him the tricks of becoming wealthy.
Accolades: In addition to publishing his book, Kiyosaki developed the game "Cashflow 101" to help give financial instruction in a way anyone can understand.
Summary: Kiyosaki focuses on teaching people to become financially independent through tactics like "paying yourself first" and avoiding liabilities. He discusses six major components of financial success and making money work for you, including minding your own business and "inventing" money.
Our Take: "Kiyosaki is a strong storyteller who uses his past and the lessons learned from his Rich Dad/Poor Dad duo to teach his readers valuable lessons about money management."
-Stephanie Sciandra, Senior Life and Arts Editor.
"This book inspired me to look at finances in a new way, which is important for a young college student. Students could actually start the process of becoming rich before they even graduate if they follow the advice of this book."
-Chrissy Casilio, Staff Reporter.
Photo: Courtesy of SUNY
