This "Rich Dad Poor Dad" review will discuss this book written by the famous author and entrepreneur Robert Kiyosaki. I first read this book couple of years ago and it strikes me as an exceptional book for people seeking success or chasing something more in life.
In his book, Robert talks about his early entrepreneurial ventures and how he grew up seeing both sides of the poor and rich equation. The most interesting thing I found out about this book was the contrast between his father (poor dad) and his friend's father (rich dad). He wanted more in his life, he wanted the money and he was very young in his teenage years, if not before, when the story starts.
Eventually he had to make a decision to who to listen to when it comes to wealth. You see, his father had a poverty mentality that kept him in poverty. It was the mentality that you have to get a college education, find a stable job, work hard all your life for someone else and save for retirement.
While his friend's father was a man on a mission. He was building a business for himself and well on his way to build a wealthy empire. Robert finally made the decision to listen to his friend's dad when it came to making money. And it served him very well. To go further in the "Rich Dad Poor Dad" review, he also talked and introduced the now famous cash-flow quadrant in a different book. What he did was talked about four quadrants that show different ways to make money.
They were:
- Employee
- Self-employed
- Big Business
- Investor
The employee and the self-employed (doctor, small business owners...) are in the active income quadrants. This means that they have to constantly exchange their time for money. Generally, the income that you earn relates to how much time you put in and we all know we only have 24 hours in a day. So the income is somewhat capped. In addition, what happens if you could not work anymore?
The other two, big business and investor, this is where you leverage your money, other people's money and time to create a RESIDUAL income for yourself. This way you are not trading your time for money. The income potential here is uncapped!
If you want more in this life, this is the quadrants that you want to transition to. However, a lot of the people out there are caught in a rat race that is difficult to break. I cannot remember if it was in this book or on of his other books, but Robert advocates that people should have a plan B and one of them is Network Marketing business or known as MLM.
This type of business is in the residual income quadrant, number 3 above, and is a great way for people to escape the rat race if they do not have a large capital. Anyways, I hope this "Rich Dad Poor Dad" review served you well.
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