"Rich Dad Poor Dad" Book Report. This Is A Essay On The Interpretation Of "Rich Dad Poor Dad"

806 words - 3 pages

The major themes of this book are don't work for money make money work for you, don't play it safe play it smart, develop you financial education, and it is better to know a little about a lot than to know a lot about a little. The author repeats the point of making money work for you instead of working for money many times in this book. He gives examples like don't just work for businesses create your own business; invest in real estate, trade stocks, and other forms of investing. Another main point of this book is to not play it safe play it smart. According to the author one of the differences between the middle class and the rich class is the middle class plays it safe and the rich class can afford to take smart risks. The rich invest in higher yield riskier investments, but they play smart by trying to eliminate as much risk as they can use their financial knowledge. The author also stresses the point of investing in an education. He says that your education is your most powerful investment. He recommends seminars, books, tapes, and classes to learn. What you don't know is always what hurts you in investing. Another theme of the book is not to focus all of you knowledge in one area. The author recommends finding out a little about everything and then paying a professional who knows more than you know in a certain investment.Income pays for you assets, liabilities, and expenses. Expenses are taxes, food, housing, and so on. Liabilities are categorized by what cost you money in the long run. For example a loan for a car or even your house is a liability. Your assets are your property that earns you money in the long run. Examples of assets are real estate, stocks, and bonds. Assets generate money and this increases your income, which can be uses to increase your assets. This is a way to generate money quickly. Money from your assets can also pay for your expenses or your liabilities. Assets make money work for you instead of against you.Rich dad did not believe that traditional education will adequately prepare you for the financial world. The school system teaches students to minimize risks and fear failure. The school system also teaches students to work hard to get a good...

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