What Rich and Poor Fathers Teach Their Children About Money

Photo by Michael Longmire on Unsplash

Rich Dad, Poor Dad, launches and writes by Robert T. Kiyosaki, an American author and founder of the Rich Dad Company (a private financial education company). He writes the book Rich Dad, Poor Dad which, teaches people how to manage their money. Kiyosaki suggested avoiding expenses and instead investing in cash-generating assets.

The book explains the personal finance knowledge which has not been teaching in educational institutions. It helps to stay financially stable in life.

Photo by Mathieu Stern on Unsplash

It informs the readers how to manage their money and discusses how financial and investment decisions have formed. Invest first in yourself than in luxury. Use your mind to run a business.

The book emphasizes financial literacy to facilitate people in increasing their assets, which are a source of money, and decreasing their liabilities, which are a source of the consumer of cash. It helps in learning about the investment or asset they should build as a source of income. Do not be frightened to take advantage of the opportunity. It teaches people how to invest in themselves, expand their learning, and overcome challenges.

Photo by Sebastián León Prado on Unsplash

Rich Dad, Poor Dad, is about the difference between a father who builds assets to grow his wealth and a poor father who pays liabilities and saves money rather than investing it for a brighter future.

Rich fathers know how to manage their money and educate their children to do the same. Poor fathers encourage their children to save money since money helps them now, but they will have no source of passive income in the future. As a result, financial education is essential.

Rich Dad, Poor Dad, assist you in learning how to develop your wealth? If you want to be wealthy, start with yourself. To become a better person, learn from your failures.

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Freelance writer. My passion is writing. I enjoy writing on a variety of subjects and learning new concepts.

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Uswa Zaheer

Uswa Zaheer

Freelance writer. My passion is writing. I enjoy writing on a variety of subjects and learning new concepts.

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