Why Is the Book “Rich Dad, Poor Dad” a Perpetual Bestseller?
Robert T. Kiyosaki’s real estate book Rich Dad, Poor Dad is one of the best-selling business books of all time. Since it was first published in 1997, it has sold millions of copies in multiple languages. Its author, Robert T. Kiyosaki, has also used the book’s popularity to start his industry of related books about real estate.
What is the book about?
Rich Dad, Poor Dad, is a book about real estate investing. Kiyosaki (and his co-author for many of the books, Sharon Lechter) made this subject interesting by putting a personal spin on it. Kiyosaki begins the book by telling the story of two fathers he knew well–his father and his best friend’s father. Although both made good money, Kiyosaki explains that his friend’s father was smarter about investing his money and became one of the richest men in their social circle.
According to Kiyosaki, people become rich or stay poor partly because of differences in their money mindsets. He argues that his father made a lot of money but was never rich or successful because he also spent a lot of money on goods that simply became liabilities.
The friend of his father, Kiyosaki shares, made money because he invested in things that became assets, like income-producing real estate and properties and side businesses. Learning to put all your dollars to work for you, Kiyosaki says, is how you can escape the cycle of making money and saving it only to spend it unwisely.
The author also places a lot of importance on developing your financial knowledge. He suggests that you read books, take seminars, and learn from other people how to maximize all your investments. You need to know how money works (and how other rich people use it) before you can truly learn how to make money.
How popular is the book Rich Dad, Poor Dad?
The original book in the series has sold more than 32 million copies worldwide and has been translated into 40 languages. Kiyosaki is a regular speaker at financial and book publishing conferences and often shares how he has made millions of dollars from writing this series of books. On his Rich Dad website, Kiyosaki states that Rich Dad, Poor Dad is the #1 Personal Finance book of all time.
Kiyosaki is also the owner of the Rich Dad Company, which offers financial education content through live-streamed global events, books, seminars, social media, and mobile apps.
How to talk about the book if you haven't read it.
This book was very popular and often comes up in conversations about finances and investing. If you understand the book’s main points, you will be able to talk about it.
Kiyosaki learned from his two “dads” (his biological father and his best friend’s father) that you do not have to have a lot of education or a high income to be able to make your money work for you. Kiyosaki strongly advocates learning about investment methods and opportunities so that you can put whatever money you do have to work making more money for you.
This book also has to do with the “scarcity vs. abundance” mindset. This means that people afraid to risk any of their money because they believe that it is scarce will sometimes miss opportunities to invest that money and make even more. If you have a scarcity mindset, you do not think it will be effective to spend money to gain skills and knowledge that might, in turn, also help you earn money.
With an abundance mindset, you free yourself to take a more long-term view of money. You will know that it is not important if you gain or lose a few dollars today; rather, it is more important that you always work toward the long-term goal of owning assets that will produce money for you over a long time.
Main Lessons of Rich Dad, Poor Dad
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Making money is good, but keeping money is better–learn to spend your money on assets like real estate that will make you money in the future
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You do not have to be smart to make money, but you do sometimes have to be bold and take opportunities when they present themselves–you may lose money sometimes, but overall, this strategy will help you make money
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Developing your knowledge of and intelligence about money and investing will help you recognize when you need to be bold about taking risks
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You must learn how to recognize and apply tax advantages and savings, just like corporations do
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Don’t be as worried about losing money as you are excited about making and keeping money
The book Rich Dad, Poor Dad is one of the bestselling finance and personal investing books. Its popularity is due to its easily understandable lessons and text. Knowing more about what the book is about will help you decide if you want to read it or sign up for Robert Kiyosaki’s Rich Dad Company investing and real estate seminars.
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