The author here talks about managing personal finance through assets and liabilities. The title refers to two main characters of the book - the rich dad, who did not complete 8th grade and the poor dad, who is very well educated academically, but is poor.
The rich dad owns a business and is very street smart and always gives the main character tips and ideas on how to become wealthy, whereas his biological father, the poor dad, tells him to study and to find a good job. Most of the content in the book revolves around managing assets and liabilities, what to invest in and what not to invest in. The rich dad also talks a lot about how financial literacy is needed, he shows the author how to run business and what it means to work for yourself.
Noteworthy ideas from the book:
- The rich do not work for money, money works for them
- Working for learning, not for the money
- How are corporations advantageous in terms of taxes
This book is written by: Robert Kiyosaki