Rich Dad Poor Dad by Robert Kiyosaki has become a classic in investing literature. It was a book that I had heard a lot about for years but didn’t end up reading it until just a few years ago. It now is usually the first book I recommend to someone that is looking to get into real estate investing or otherwise. The book is extremely readable and explains financial basics in a very digestible manner. Kiyosaki’s explanation of assets and liabilities as well as talking about cash flow is incredibly valuable.
I do a little bit of mentoring and a couple months ago a young man named Caleb reached out to me to chat about a business he is trying to grow. We had a great first meeting and we decided that I would mentor him in his business, but also with his larger financial goals. Caleb is interested in real estate and ironically his Dad had been telling him to read Rich Dad Poor Dad since he was fifteen. I felt that would be a good first step and he agreed. His Dad excitedly mailed him the copay that he had given him years ago and Caleb dug in. Knowing that we would be discussing it soon I decided that I should give it a reread.
While it is always great to get a refresher on basics, I was surprised by the depth of what reads as such a simple book. I was able to pull tons of great info that I had missed in the first go around, which is not surprising because my retention can be less than stellar. Some was basics but other information was now useful because my stage of investing has changed since my last read. I used to see it as a beginner book. I now see it as beneficial no matter what stage a person is in and as book that can be revisited time and time again.
Wherever you are in your life, or investing career, I highly recommend you make Rich Dad Poor Dad your next read. It is quick, entertaining, and for some life changing. I hope you enjoy it and look forward to hearing what you think!