“Rich Dad Poor Dad” is a personal finance book written by Robert Kiyosaki. The book outlines the financial lessons he learned from his two “dads”: his biological father (the “poor dad”) who was highly educated but struggled financially, and his best friend’s father (the “rich dad”) who dropped out of school at an early age but became a successful entrepreneur.

Throughout the book, Kiyosaki compares the financial strategies and beliefs of the two “dads”, highlighting the difference between an employee mentality and an entrepreneur mentality. The “poor dad” believed in the traditional approach of working hard to earn a steady income, saving, and investing in paper assets such as stocks and bonds. On the other hand, the “rich dad” believed in creating wealth through passive income streams, leveraging debt, and investing in tangible assets such as real estate, businesses, and precious metals.

One of the main messages of the book is the importance of financial literacy and understanding the difference between assets and liabilities. An asset is something that generates income, while a liability is something that takes money out of your pocket. Kiyosaki encourages readers to focus on acquiring assets, such as rental properties, that will generate passive income over time.

Kiyosaki also stresses the importance of taking calculated risks, especially in investing. He argues that in order to build wealth, one must be willing to make investments that have the potential to yield high returns, even if there is a risk of losing money.

Another key message of the book is the idea that the standard advice to get a good education, get a high-paying job, and save for retirement is not necessarily the best path to financial freedom. Instead, Kiyosaki suggests that the road to wealth is through becoming an entrepreneur and creating multiple streams of income.

The book concludes by emphasizing the importance of changing one’s mindset about money and taking control of one’s financial future. Kiyosaki encourages readers to embrace a lifelong learning process, constantly seeking out new knowledge and opportunities for growth.

Overall, “Rich Dad Poor Dad” is a thought-provoking book that challenges traditional views on personal finance and wealth building. It encourages readers to take a more proactive approach to their finances, focus on acquiring assets, and embrace the entrepreneurial mindset.