He also states that these rich people teach their children about money differently to those of the middle class and poor. 1 . 1 Genre of the book. The genre of the this book is a financial self-help book. 1. 2 Who is the intended audience? The intended audience is anyone who would like to better their financial circumstances as well becoming financial intelligent and economically sa'. n. Y. It is also directed at parent's who want to teach their children how to make money work for them and not for them to work for money. 1. 3 Author's style?
The Sukiyaki's style is informal and user friendly, meaning that it is not full of complicated financial Jargon, which is helpful for a person unfamiliar with the business and economical worlds, to easily understand the author's message. 2. Summary. Rich Dad, Poor Dad' is made up often chapters. The first chapter is an introduction into how Sukiyaki's yearning for financial success and his consequent education in financial literacy began. The second to ninth chapter are divided up into his lessons and tips on how to become financially as'. N. Y and wealthy.
The last heaper is guide on what to so with these lessons and where to go to start your journey to financial freedom. Each chapter will be given a brief summary of the main lesson and important themes. In chapter one, Sukiyaki tells the story about when he was nine, he and his best friend Mike wanted to become rich so that they could play with the wealthier children at they school. The proceeded to make nickel coins from old lead tooth paste tubes they had collected. On realizing what his son and his son's friend were doing, Sukiyaki's father gently explained to them about counterfeiting.
At his fathers suggestion they ask De Mike's father (an entrepreneur) on how to become rich. Muick's father offered the boys a Saturday Job at one of his stores and through weeks of paying them poorly and then not at all, their financial education began. At this point Mike's father became Sukiyaki's 'Rich Dad' and his own father( who was highly educated and working for the government but struggling financially) became history Dad". Through working at the store, Mike's father was able to teach the boys about the 'Rat Race'.
That people are trapped in this cycle of working for Just enough money to revive but not save or invest and having to continue working for what amounts to nothing in the long run. He also teaches the boys that it is fear and desire/greed that make people fall into this trap in the first place and that it is best to not base money decision on emotions. The second chapter continues with the idea of fear and greed being major factors in how people utilities their income. Sukiyaki's states that the poor and middle class work for money while the wealthy make money work for them.
He says the wealthy recognize good opportunities and are not afraid to take risks while the poor and diddle class do not see these opportunities because their are trapped in the cycle of fear of having no security and desire or greed for luxury goods. The third chapter is the lesson about why it is important to teach financial literacy. Sukiyaki uses the example of rich athletes making bad monetary decisions today and successful business men in the sass's who died either penniless or in Jail to show that financial literacy is needed to maintain your wealth as well as remaining financially secure.
He suggests that to do this, one must be financially savvy even fore you have acquired your wealth, not when you have and a good way to do this is to understand the difference between an asset and and liability. It is better to have more income producing assets (such as stocks, bonds and income-producing real estate) to live off, rather than your income which you can save and to have less (preferably none) expenses that drain your finances. 3. How did the book affect me as a reader?
I found this book to be interesting especially that from the start Sukiyaki dispels the old age adage, that if one works hard at their education and then gets a good Job, hat they will be financially successful. That in fact people need to be financially intelligent in order to become wealthy. I found his unconventional advice inspiring and thought provoking. I definitely agree that financial education should be part of every school syllabus, fortunately which it is is today but sadly was not when I was at school. . 1 The Author's message to me. The message I got from Sukiyaki is that regardless of your profession you can become wealthy if your are financially smart. Also the idea to only work for money is ever a good one, that working for knowledge and skills is an effective way to increase your financial intelligence. I also learnt that in some cases to break from convention or the status quo, to take educated risks and be flexible and bold are also ways in which to become successful and wealthy.
I especially enjoyed his advice on knowing the difference between assets and liabilities and how you make assets work for you. His lessons were thought provoking, and his examples and stories from his person life helped make his message relatable to me. 4. How has the book achieved it's goal? I think the book has successfully achieved it's goal in introducing the readers to a unconventional yet reasonable method of changing how one views money, employment, education and financial education.
However the one problem I did have with the book is that it is written for an American audience only. I think that with the huge worldwide success Sukiyaki has had with "Rich Dad, Poor Dad", it would be beneficial if he adjusted and made it relevant too global audience. Conclusion. Learning Experience In the past I have avoided financial, business or economic themed books, believing hat I Just do not have the mind or interest for them. However, after reading 'Rich Dad, Poor Dad', I feel that a whole new world has been opened up to me.
Although there are many ideas, concepts and terms that I do not understand, I feel more confident that this is a world that I will one day be able to boldly converse in and have my own opinions about. In short I now feel excited and positive about my financial future, whereas in the past I only felt fear and dread. For this I am extremely grateful. Bibliography Sukiyaki, Robert T. 1997 Rich Dad, Poor Dad Warner Business Books Newark: Warner Books