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Robert Kiyosaki — Author of Rich Dad, Poor Dad — Reflects on 20 Years of Evolution in Finance
His lessons stood the test of time
There are not many books I’ve read more than once, but there’s at least one book I keep finding myself coming back to: Rich Dad, Poor Dad, by Robert T. Kiyosaki.
For those who have not read it, here’s a summary of a summary:
The rich don’t work for money, they make money work for them using intelligent investments in assets, not liabilities. They are financially literate and invest in knowledge and skills, not shiny new things. They don’t act on emotion, they act on data.
In the 20th anniversary edition, Kiyosaki adds insight into the reality of today. In this article, I want to highlight some of the most important ones, in my opinion.
Savers remain losers
“Today, interest rates in many countries are below zero, which is why savers are losers.”
In Canada, savings accounts are a joke. They’re pretty much all lower than inflation. If you put even a single dollar in those accounts, you lose money every year. Kiyosaki shows that with every stock market crash, it always picks back up. Investing in the stock…
