3 Lessons from Rich Dad, Poor Dad

Robert Kiyosaki's book Rich Dad, Poor Dad has been inspirational to many people, but the book seems to have produced as many critics as champions. Here are 3 lessons I learnt from the book. 

Lesson 1: I learned that some personalities thrive on financial risk. “Rich Dad” thrived on taking on a huge amount of financial risk. I personally think it’s foolish to dive into businesses cash first, but I’m apparently wired differently. I’m a conservative investor who prefers to manage my money carefully – I’d rather see smaller, stable returns than to toss my cash on the roulette wheel.

Lesson 2: I learned that even people who thrive on such risk are rewarded by frugality. “Rich Dad,” in some ways, was a rather frugal person. Of course, Kiyosaki coupled that with promises of fast cars and such for the person who followed the “Rich Dad” path, but there is value in frugality even for risk-taking entrepreneurs.

Lesson 3: I learned that some people who thrive on this risk look at people who avoid risk with disdain.Kiyosaki looks down upon “Poor Dad” and refers to people who work for others and slowly accumulate wealth in a less-risky environment as “hamsters.” That perspective actually explains a lot about how CEOs and many business leaders operate – we’re just “hamsters” in the machine to them.