Rich dad poor dad reaction paper

The essence of each character is: Poor dad believed in the traditional principles of working hard, saving money, and not buying material things that one cannot afford. He believed that having a good job with a solid company is what one should aspire for; hence he expresses disappointment when his son leaves the employ of a large, reputable corporation.

Rich dad poor dad reaction paper

Books and Reading Well, it had to happen sometime. This book has been inspirational to many people, but the book seems to have produced as many critics as champions. I thought it might be insightful to immediately mention the first two times I read the book and my reactions following the reading.

The first time I read the book, I felt inspired. I eventually ran into John T. It was shortly after this second reading that I was requested by a reader to write up my thoughts on the authorwho has written a large number of similar books. So what kind of book would cause such a strong shift in opinion?

Rich Dad, Poor Dad is basically what I would call a personal finance perspective told in the form of a parable, much like a book I reviewed earlier, The Wealthy Barber. But while The Wealthy Barber basically related the basics of personal money management in the parable along with examples that you could directly research and work out yourself, Rich Dad, Poor Dad is about a complete rethinking of how money works.

For example, rather than seeing an asset as something with value, this book defines an asset as being something that generates cash flow. This means that according to this book, your home is not an asset. My only interest is the following question: The first two thirds of the book covers six lessons taught to Robert by his rich dad.

The rich in fact do work, and they work quite hard. They work to learn things, and the things they learn can easily be applied to make money over and over again. I agree with this sentiment entirely — good ideas are always more valuable than good labor, because you can keep mining good ideas, while good labor is spent the second you do the work.

Rich dad poor dad reaction paper

Too many people equate rich with material things, so I enjoy it when it is shown that being rich often has very little connection to material possessions.

Without a doubt, this was my favorite part of the entire book, even with the short, out of place rant about the gold standard actually a misnomer, because the only way the book makes any sense in terms of time is if the rich dad is actually talking about the Bretton Woods system and not the true gold standard and how the United States was doomed if they abandoned it.

Why Teach Financial Literacy? This is the section of the book that causes a lot of controversy when discussed. In a nutshell, this chapter redefines the term asset.

For most, an asset is something that has value. For example, your home is an asset because it is something you own that has value. Well, this section of the book redefines the word. To Robert Kiyosaki, an asset is something that generates income, while a liability is anything that has costs.

Fiat Money is “Fake” Money

In other words, by this definition, your primary residence is not an asset but a liability. Instead, assets are forms of passive income that you control, like a rental property or intellectual property.

Basically, you become rich by accumulating assets, assets as defined by this book. This basically means that, in my case for example, my truck is not an asset but The Simple Dollar is an asset it generates revenue on its own — I write because I enjoy it.Rich Dad Poor Dad essays Rich Dad Poor Dad is truly a great reading experience.

One can encounter many fresh ideas and new perception of one of the most influential forces in modern society; money. Robert Kiyosaki's unique way of thinking about true wealth in terms of cashflow and expenses ma.

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Robert Kiyosaki, author of the book, "Rich Dad, Poor Dad" filed for corporate bankruptcy through one of his companies, Rich Global LLC. Mar 23,  · It was so crazy to see people's reaction when I dressed like homeless vs when I dressed rich.

rich dad and poor dad Essay  REACTION PAPER IN FINANCE Fatima May Del Monte BSTM III This story about Rich Dad, Poor Dad it inspires a lot of people who already read this book. It gives us motivation in life. We all know everyone has a purpose in life. Aug 07,  · The author of the best-selling personal finance book ‘Rich Dad, Poor Dad’, Robert Kiyosaki, is predicting that the mainstream financial system is heading toward a . Introduction - Rich Dad Poor Dad Having two dads offered me the choice of contrasting points of view: one of a rich man and one of a poor man. I had two fathers, a rich one and a poor .

We should all be treated the same no matter who we . Rich Dad, Poor Dad explains the differences and distinctions between how the rich class, and the poor and middle classes manage their money.

The author differentiate throughout the entire book explaining how his best friends dad, the "Rich Dad" was so successful/5. This is the sad conclusion Robert Kiyosaki draws in his bestselling book Rich Dad, Poor Dad. Luckily, he also offers a way out. Luckily, he also offers a way out.

A way to get ahead. The first being his Poor dad, his biological father who was a well-educated, highly paid government official and the other being his Rich dad, a close mentor who owned a successful business.

6 Key Lessons From Rich Dad, Poor Dad | MadameNoire