Rich+Dad,+Poor+Dad+for+Teens

Rich Dad Poor Dad for Teens By: Michael J. Castanaro

Robert Kiyasoki starts out his book by giving a detailed description of why the book is called Rich Dad Poor Dad for Teens. The reason being is because when Robert was growing up he was in a poor family and his dad was always teaching him that the way to get rich was through a good education. However Robert thought differently. Robert's best friend Mike was rich and so was his dad. Mike's dad and Robert's dad were similar, but had different views on money and how to get rich. Robert's dad taught that you get rich through education while Mike's dad taught that you get rich through financial literacy. As Robert and Mike grew up they always conversed with Rich Dad and asked him the secrets to become rich. Rich Dad taught both of the boys that becoming rich was similar to riding a bike and through experience one doesn't need to tell you how to do it. Rich Dad always taught that in order to be rich you must not think of money at all. Robert and Mike were extremely confused at this statement at first, but Rich Dad made this statement make sense. Rich Dad said that if you were always thinking of money then you would get caught up in something that many people are caught up in call the "rat race". The only thing they think about is getting an education, getting a job, making a decent amount of money, owning property, buying new cars, working even harder and remaining slaves to senseless working and buying. Rich Dad said that the rich people and those who have financial freedom allow their minds to think and see opportunities that would allow them to become rich. One thing that Robert Kiyosaki kept restating was that we are all brilliant in our own way. Sometimes we get caught up in school because of all the standardized tests which do not really make sense. If we all learn differently and have our own ways of understanding then why are they trying to fit us all into a mold that thinks and reasons the same way? He states that many of the world's most brilliant people were never excellent at school, but had open minds that allowed them to achieve greatness and/or become rich. Albert Einstein is a good example. He was never the best in school and did not even make great grades. In the end however we all recognize Einstein as one of the greatest mathematicians in the world. It's not because he wasn't smart it's because he thought in a different way than the school's expected him too, in a much more brilliant kind of way. There is even an exercise in the book that allows you to identify and pick out which type of learner you are. Robert lists eight types of learning abilities, Verbal Linguistic intelligence- which relates to how well you read and are familiar with books. Numerical intelligence which allows you to compute with numbers and statistics well. Spatial intelligence- for those artists and creative people who doodle when they work because it helps them to retain information. Musical intelligence– is for those people who are talented musicians and can hear sounds and repeat them easily. Physical intelligence which is for athletes and those active physically. Interpersonal and Intrapersonal Intelligence which are those intelligences relating to how well you communicate with others and yourself. There is natural intelligence for those who love natural things such as nature and the understandings of the world's fundamentals. Robert even added one of his own called Vision which is for those who excel at leading others. He emphasizes that if you want to become rich you must focus on which type of learner you are and practice at each level. After teaching Mike and Robert many things Rich Dad made them a deal. He was going to test them, but little did they know at the time. Mike and Robert were given a job by Rich Dad to work at one of the local restaurants with Mike's grandmother. Mike and Robert were going to be working for a few dollars and hour and both were going to have to give up certain hobbies to make room for their new job. Robert had to give up baseball games, but he knew this training was going to be worthwhile. As time progressed Robert was getting angry because Rich Dad had not mentored him one bit. So one day Robert went in Rich Dad's office and threw a fit about the fact that he was working for only a few dollars a day, giving up baseball games, and not learning one bit of advice to become rich. Rich Dad just smiled and replied, " You are not learning anything then if you are constantly thinking of money and the things you have to sacrifice". He stated that that's how they teach you in school, you work hard so you can buy things, and then even if you make more money the things you are going to buy are just going to be more expensive. Robert was taught by Rich Dad that if he was going to be rich he was going to have to learn to work to learn and not to earn. The next day Rich Dad offered the boys a pay raise instead of one dollar an hour they were going to be making five dollars an hour. Robert, who had just been taught an important lesson saw through Rich Dad's trick and refused to work for more money. The next lesson came as Rich Dad saw Robert and Mike's progression and decided to teach them an even more important lesson. He told the boys that the rich think differently than those caught up in the "rat race". The truly rich seek financial freedom instead of financial security. They decide to have their money work for them and not work for their money. he said being rich is simple. The only thing you need to know is the difference between assets and liabilities. He said assets are investments that put money in your pocket such as apartments that you could buy and then rent, eventually they will repay you what you spent on them. A liability is something that will take money out of your pocket like an expensive gas guzzling car. Not only did you spend $40,000 on the vehicle, but you have to spend money on the gas and insurance etc. The main difference between Rich Dad and Poor Dad was the way that they thought about things. Poor Dad said that you should study hard to find a good company to work for. Rich Dad said that you need to study hard so you can find a good business to buy. Poor Dad stated that the reason he wasn't rich was because of you kids. Rich dad stated that the reason he was rich is because of you kids. Poor Dad exclaimed that when it comes to money don't take risks. Rich Dad said to learn to manage risks. Poor Dad said to work for benefits, Rich Dad said to be totally self-reliant financially. Poor Dad said save your money. Rich Dad said invest your money. Poor Dad said write a good resume so you can find a good company to work for while Rich Dad said to write a strong financial plan to create a good company. The difference between Rich Dad and Poor Dad is significant, and the lessons Rich Dad taught both boys led them to become billionaires. Robert ended up retiring at age 47 by selling his business and now he lives the good life because of a few simple rules taught to him by a mentor who had been in his very shoes.