By In Book summary


Writer: Sayed Sajad Burhany
BBA Student & Book-Reading Club Member

This book is the best book I have ever read. Its story was about a poor Dad who always talked about getting a degree, getting a job, and making money. He liked to be secure rather than getting financial freedom. He worked all his life paying debts, and he was struggling with financial problems. His problem was financial education. Remember, you can be professional, intelligent, and educated, but you need financial education, whereas it is not taught in school or anywhere else. His poor Dad believed that money doesn’t bring happiness; money brings options. Even those who say money doesn’t bring happiness are working and chasing money.

Lack of financial education causes his poor Dad to struggle in his life. He believed in education, in school, and in traditional education. I myself don’t believe school education can bring money and success. You need to seek different experiences, learn from workshops, books, mentors, make many mistakes, and then bring changes. Winners are those who make mistakes and then make an effort to correct them. Losers are those who make mistakes and leave them with an excuse.

Roberts’s rich Dad believed in financial education. Financial IQ was the most important thing for him. He said that financial IQ stands for learning, investing, accounting, marketing, and law. He believed conventional education and schoolmaster degrees would not lead you to success. It will make you specialized in one field, whereas you need to be specialized in many areas. A genuine person accepts he cannot know everything, but he needs to know a little about many things. Entrepreneurs believe that money should work for you; how? One thing to keep in your mind is to keep your day job, work to learn, don’t work for money.

You can do this with assets like real estate, rents, bonds, stocks, etc. The rich Dad always emphasized work to learn not to make money, don’t ask for a pay rise. Try to control your greed and your fear. Try to handle risk, take initiative steps and work to learn. By increasing your financial IQ, you can find opportunities everywhere. There is gold for everyone, but there is a lot of blind people. Don’t play it secure; do not be afraid of making mistakes. You know Thomas Edison failed 1014 times. Actually, he didn’t fail. He said 1014 times it didn’t work. Failure is stepping back and leaving something.

The school will teach you to get a job and be secure. That security will cause you to struggle mentally, emotionally, spiritually, and financially. The biggest risk is not taking a risk so try to make as many mistakes as you can and then correct them and change them.

Rich Dad Poor Dad; the most effective book I have ever read in my life. It changed my view about life, and I have learned so many things from it which is not taught by schools and universities.

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