Wisdom of Rich Dad

Too much a while, we played it safe, too safe.  We played safe because we are afraid of losing money.  This is what was taught in the “Rich Dad, Poor Dad” book as Fear – Fear of Losing Money.  Robert Kiyosaki reiterated this issue again here.

According to Kiyosaki, this fear affects both the rich and the poor.  The difference is that the rich know how to manage this fear, and they sometimes will still act in spite of fear.  The poor will then choose to play safe, and might not take any action at all. 

I have came across posts from a few critics who has reserved some comments on Robert Kiyosaki’s ”Rich Dad, Poor Dad”.  Perhaps, these people already had a good grasp of the financial and money principles and saw what was in the book as too shallow. 

The book “Rich Dad, Poor Dad”, I believe, is targetted at specific general population who has very little financial knowledge and little interest in financial knowledge.  The book is served to inspire and not a guide on how the steps to acquire wealth.  Robert Kiyosaki might have written it as a simple introduction to the underlying thinking and principle of money and wealth in a story like fashion. 

It is best summed up by these few sentences from this blog(www.goal-setting-college.com), about Kiyosaki “Rich Dad, Poor Dad”

If you are expecting a step by step winning formula to getting rich, cast this book away, because you will likely be disappointed. However, the thought provoking concepts will probably inspire you to think out of the box and search for the “ways” yourself. Well, at least that was what it had done for me. Not only did I finish the book within 2 days, I’ve noticed a paradigm shift in my mindset towards certain values in my life.

 

 

Emotions play a great part on how we do investment.  This is especially true when you have low level of investment and financial knowledge.  Without much of that to rely on, we begin to invest on hunch or the feel of things, blindly following the crowd, or acting on hot tips. 

Often than not, we fall prey to all these emotional traps.