Robert T. Kiyosaki wrote the self-help book “Rich Dad Poor Dad,” which was released in 1997. Kiyosaki’s life experiences and opinions on money, investment, and financial literacy are the foundation of the book. The book emphasises the distinctions between two father figures in Kiyosaki’s life: his biological father, an academic with a Ph.D. who struggled with money, and the father of a friend who had less formal education but was rich and successful in real estate investing.
Kiyosaki makes the case throughout the book that conventional educational and financial planning approaches frequently fall short of producing true wealth and financial independence. Instead, he promotes financial education and the creation of various sources of income through investment, particularly in real estate. He places a strong emphasis on the value of taking calculated risks, thinking creatively, and eschewing conventional financial thinking.
Millions of copies of “Rich Dad Poor Dad” have been sold all over the world and are regarded as a classic in the personal finance category. Many people have been motivated by it to take charge of their money and work towards financial freedom. Some financial experts have also harshly criticised the book, claiming that it oversimplifies complicated financial concepts and offers advice that is not supported by reliable financial facts.
Despite these concerns, “Rich Dad Poor Dad” is still a well read and respected book whose lessons have remained relevant to the personal finance industry. It continues to motivate people to take charge of their financial future and attain financial independence despite having been translated into other languages.