Rich Dad, Poor Dad

I have begun reading Guy Kiyosaki’s “Rich Dad Poor Dad” this month.  A while back, this book was recommended to me but I never got the chance to read it.  I was excited this month that it was a required text for the class.  I have always been huge on trying to find ways to increase my income and even manage money in business and life.  Growing up I was in a similar situation as Mr. Kiyosaki, I had my real dad and my step dad.  Both were very good men but had different approaches of becoming financially stable.  My real dad believed in having multiple streams of income, specifically with real estate.  My step dad on the other hand believed in multiple streams but stressed saving for the rainy day.  Both have shaped me to think a certain way and I have learned a lot from both.  The book helped me understand why just saving would not help me in the end.  Saving has been very beneficial to me and it is necessary to save.  For instance, during my undergrad it seemed like my car would always break down at the wrong time.  It would upset me until I would remember that I had money stashed away to take care of the repairs.  Saving was more of a relief, but after that money was gone, I was back to square one.  The book made me realize how valuable assets were.  My real dad is one to always treat himself, he has multiple cars, takes trips when he wants and seems to be happy with life.  He taught me to organize money using the envelope system, although he did not directly teach me to gain assets, after reading the book I realize that is all he has been doing.  He was similar to rich dad, leading by example.  In business, having the knowledge from both sides is going to take me a long way.  Gaining assets will help me grow my company and prepare me for the rainy days. So far, this book has taught me the importance of financially literacy.  I realize that it is not about working hard for money, but having the money work for you.

I look forward to finishing the book and learning to become financially stable!