Book review: Rich dad, poor dad

I know some of you might have heard of Robert Kiyosaki, as he is a good spokesman about cryptocurrencies among other types of investments like real estate and stocks and even gold mines. He has a YouTube channel where he talks about the daily economic problems and solutions. I don't agree with everything he says however there are some good points he is making, that could help people trying to develop a financial discipline and eliminate bad spending habits. However, if you are looking for financial advice i don't think you will benefit much from his talks. His talks are more experience based and living a certain economic lifestyle where a person minimizes expenses and maximizes profits. He explains it simply by separating the things that take money from the pocket and things that bring money into your pocket. The first is bad spending habits where after spending certain amount of money we are left with nothing in return, and the second is where we can still do all that but have reciprocal income. It's so simple someone that has financial discipline might get confused at what the point is, but the key point he is trying to make is that as humans we work hard and when it's time to spend the hard working money we get emotional and spend the money on lux stuff other than future investments. It's the gap where many mostly millennials including me have fallen many times due to lifestyle or just being plain emotionally unintelligent and economically suicidal decisions.

I don't know if the stories are true or not, however it was a great way to bring things into perspective. At the end all it matters was the final point, that economical discipline is if not the most important habit we can have, however most of us surprisingly don't have it. Pinpointing the educational system as well as parenting he concludes that the new generations are mostly misguided on well they should manage their financial resources for present and future situations.

I would highly recommend this book to anyone looking into bringing some economic discipline into their lives, recover from bad spending habits and look forward to building future assets.