Rich Dad Poor Dad for Teens: The Secrets about Money--That You Don't Learn in School!

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Without self-discipline, you wouldn’t know how to manage a million dollars if you were to receive it. Then, years go by and the dream draws no nearer. They get depressed. So they whip out this book (or another one like it) and suddenly feel like their millionaire retirement is only 6 months away! This makes them feel self-satisfied and complacent, so they end up doing nothing until suddenly, months later, they realize they're no closer to their goal. I'm not saying people shouldn't have dreams, and I'm definitely not saying not to follow them, and I know people get attached to their denial, but it's not going to make your life any better.

In Rich Dad Poor Dad for Teens, those concepts include managing assets, managing debt, and moneymaking opportunities for young people. While some online reviewers have faulted the book as overly simplistic, other readers may find Kiyosaki’s upbeat approach to making and managing money inspiring. Robert Kiyosaki’s poor dad suggested that the two learn how to make money from Mike’s dad (Robert Kiyosaki’s rich dad). Poor dad had heard from his banker how good the rich dad is at making money. Mike arranged a meeting time, and the two began their lessons.In short chapters, Kiyosaki shares the financial education he received from "rich dad", the father of one of his friends. He compares it to the financial advice his own father gave him. The argument is that most people stay unhappy with their financial situation because they don't own any assets and they end up working for others, rather than for themselves. While his own father encourages him to seek an education and a stable job, his rich father helps him become financially educated. I've been wanting to read this for a couple of years. After some recent events in my life I wanted to understand the financial thinking of people who were raised wealthy and those who were not. The first chapter was great. The storytelling was simple and informative. It made so much sense to me and I related to it. Then I started Lesson Two: Why Teach Financial Literacy. It was this chapter that I realized that homeboy Kiyosaki is quite pompous. I understand that he was using specific examples in his financial success which is essential for writing a book in this genre but he was just being pretentious and inflated.

I enjoyed the way Kiyosaki introduced us to both fathers. He puts us in the scene of action, rather than lecturing us, and like he did as a boy, we learn from actions rather than words. This is more successful, I think, than most financial books, which while helpful can be a little boring. In this section of Rich Dad, Poor Dad, Robert Kiyosaki shares a simple story. In 1923, the greatest leaders and richest businessmen joined together for a meeting in Chicago. Twenty-five years later, nine of them had their life end in the following ways: In a new deal, rich dad negotiated that Robert continues working for him, but for free. For the next three weeks, Robert and Mike worked for their rich dad for free. Then, on the third Saturday, he took them out to a park for some ice cream. He decided to introduce him to the trap of the rat race. He did this by offering to pay them twenty-five cents an hour. They said no. Rich dad then offered a dollar an hour. They said no. Then, two dollars an hour. They said no. Then, five dollars an hour. And they once again said no. The boys knew that they couldn’t be bought. They were committed to becoming wealthy. The key to financial freedom and great wealth is a person’s ability to convert earned income into passive and/or portfolio income.” Delivery with Standard Australia Post usually happens within 2-10 business days from time of dispatch. Please be aware that the delivery time frame may vary according to the area of delivery and due to various reasons, the delivery may take longer than the original estimated timeframe.Over 50% of business fail in the first 4-5 year of being open. This book is about how to make your business be successful and become a great business person. The book tells about how to make passive income and not to have a lot of liabilities. Another thing this book tells about the journey of Robert Kiyosaki and how he made it big. It tells the hardships he endured in creating a business. I have read some of this book before and here is a little about him. For a comprehensive overview of personal finance, How to Money: Your Ultimate Visual Guide to the Basics of Finance by Jean Chatzky and her co-authors would be hard to beat. Steve Burkholder’s I Want More Pizza might be the best choice for teens who want (or need) to know the basics but cringe at the idea of anything resembling homework. Books on more specialized aspects of personal finance are also worth exploring, with Kalman Chany’s Paying for College being a good example. Why Trust Investopedia?

The thing is, not everybody is afforded the same opportunities, and the point about high risk, is that risks are high. Sometimes it all comes crashing down. Take the time to develop your financial intelligence. Harness the power of your brain and asset column.” Robert Kiyosaki shares, “Most people never win because they’re more afraid of losing. That is why I found school so silly. In school, we learn that mistakes are bad, and we are punished for making them. Yet if you look at the way humans are designed to learn, we learn by making mistakes. We learn to walk by falling down. If we never fell down, we would never walk.” Robert Kiyosaki retired at the age of 47. He still works, but for him and his wife, Kim, working is an option as their wealth will continue to grow automatically.

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Robert Kiyosaki has more liabilities than most of the population, but he uses tenants to pay for his debts. Here is one of my favorite lines from it, approximately quoted: "I have never met a rich man who hasn't lost a lot of money, but I have met a lot of poor men who have never lost a dime." True! SO TRUE. Everytime I lose money in an investment, I remember how much better I am for investing and making my money work for me than just hiding it and hoping nothing bad happens to it. Before his meeting with his rich dad, Robert Kiyosaki’s poor dad told him to demand what he deserves at least 25 cents an hour and to quit his job immediately if he didn’t get a raise. Robert went to meet with his rich dad but was forced to wait 60 minutes longer than expected, which infuriated him. Robert felt that his rich dad hadn’t kept his end of the bargain of teaching him and that he was just trying to exploit him by making him work for him. Most financial problems are caused by trying to keep up with the Joneses.” You might choose to buy a bigger house, work harder, or get a promotion or pay raise. Robert submits offers on multiple real estate properties that he wants. He leaves the deal up to the real estate agent, who is the expert, whereas he isn’t.