Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! is a story about the author who has two fathers. The first was his biological father, his poor dad, and the other was the father of his childhood best friend, Mike, which he considered his rich dad. Both fathers taught the author how to achieve success but with different approaches.
It became evident to the author which the father's approach made more financial sense. Throughout the book, the author compares both father’s principles, ideas, financial practices, and how his real father, the poor but highly educated man, failed against his rich dad in asset building and business insight.
The author compares his poor dad to those who are continually scurrying in the rat race, helplessly trapped in a vicious cycle of needing more but never being able to satisfy their dreams of wealth because they lack financial literacy. They spend so much time in school learning about the world's problems but have not acquired valuable lessons about money because it is never taught in school. His rich dad represents the independently wealthy core of society who deliberately takes advantage of corporations' power and their knowledge of tax and accounting, which they manipulate to their advantage.
The book’s theme reduces to two fundamental concepts: a can-do attitude and fearless entrepreneurship. The author highlights these two concepts by providing multiple examples for each and focusing on the need for financial literacy, how the power of corporations contribute to making the wealthy even wealthier, minding your own business, overcoming obstacles by not fostering laziness, fear, cynicism, and other negative attitudes, and recognizing the characteristics of humans and how their preconceived notions and upbringing hamper their financial freedom goals.
The author presents six significant lessons which he discusses throughout the book:
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