‘Rich Dad Poor Dad’ still holds up 25 years later

Meshal Muhammad

After 25 years since it was self-published, Robert Kiyosaki’s, “Rich Dad Poor Dad” is a staple in many households, holding a place in bookshelves all over the world. The book has sold over 30 million copies and has been published in over 50 languages.

Often the first book people interested in business, entrepreneurship and personal finance turn to read. This book is easy to follow and is written like a story with clear definitions of the terminology used throughout, which help solidify concepts in the reader’s mind.

The book tells the story of Kiyosaki and his biological father, the poor dad who takes the traditional path to “success,” obtaining a degree from a reputable university and then working a job to pay off student debt for most of his adult life. To parallel this story, Kiyosaki writes about his friend’s father, the rich dad who didn’t complete high school but ended up becoming his own boss and very wealthy.

Ultimately, Kiyosaki explains that an education isn’t necessarily the way to wealth and that his biological “poor dad” had regressive beliefs about money that were keeping him poor.

Through sharing his personal story, Kiyosaki urges the reader to “take control of their future,” reevaluate their mindset and adopt a new mindset with regards to money and building wealth.

He advises readers to invest in assets rather than a single income stream, which can be lost easily. As he famously says, “The rich buy assets, the poor only have expenses.”

Critics of the book and Kiyosaki’s philosophy point out his problematic comments about taxes, as he is found numerous times saying things along the line of taxes being the biggest expense for most.

Kiyosaki is also said to lack awareness regarding systematic problems that keep the poor and the wealthy as they are.

Although some of these views are problematic, it is hard to ignore the impact that “Rich Dad Poor Dad,” has had on lives around the world. One of the reasons why it has gained so much traction is that Kiyosaki manages to explain difficult terms in ways an average person can comprehend.

The book has also brought forth a new wave of people who think differently about finances and, most importantly, helped shift people’s perceptions about wealth.

“Rich Dad Poor Dad” has played a leading role in getting people to start learning about how money works and the importance of mindset and belief systems, both can ultimately determine futures.

The most advantageous reason for reading this book is that it helps one realize that there is no set path to success and wealth. There are multiple ways to reach that point besides getting a degree.