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Book Review: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechte

Book Review: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechte

rich-dad-poor-dad-book-reviewIf you’re looking for a great book to read during the winter months this year, Rich Dad Poor Dad is a great place to start. Not only is it entertaining but also offers readers an opportunity to heighten their own financial intelligence by way of relatable nonfiction parables.

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The book is essentially the story of a person with two fathers: one being biological and “poor,” the other is the father of the narrator’s childhood best friend – the “rich dad.” Both of which teach the author how to achieve success but with different approaches.

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In fact, throughout the book, the author compares both fathers – their principles, ideas, financial practices, level of energy and how his real father, the paycheck to paycheck but highly educated man, pales in comparison to his rich dad in terms of asset building and business acumen.

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Once you read it, you’ll likely feel inspired and have the overwhelming urge to run out and start following some of the ideas in the book, which is fine. However, you should know that it all just comes back to the most basic principle of business and personal finance – keeping costs low.

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I know, simple right? Save money and you’ll have more of it to invest. However, real life can be far more complicated than that.  This book does a great way of showing readers a real world view of the types of situations that can arise.  The book teaches how a financially intelligent person deals with long term financial decisions as opposed to someone that is simply living for the moment.

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This book was personally helpful for me because of its reaffirmation of the fact that law practices must be hyper vigilant when it comes to keeping costs low. Costs can get out of control quickly with the court filing process, depositions and experts.  If an attorney is working on a contingency fee basis then he or she is fronting the costs in hopes getting paid at the end.  That is the only way to help a regular person up against a deep pocketed insurance company.

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Overall, the financial fundamentals in this book are sound – save money, accumulate assets, and start a business to make more money. It’s also rather inspirational and fun to read.  The author would jog around neighborhoods that he would later invest in.  It’s difficult to imagine someone following the success stories in this book exactly, but I’ll leave that up to you to decide.

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Anthony Paglia
Anthony Paglia
apaglia@anthonypaglia.com

Mr. Paglia graduated from the William S. Boyd School of Law at UNLV. In law school, he was appointed by the Nevada Supreme Court as a student attorney where he successfully prosecuted his first trial for the City of Las Vegas. Anthony studied international and comparative law in Curaçao, Netherland Antilles. Prior to becoming a lawyer, he worked as a City of Henderson Senior Lifeguard, busboy, administrative assistant for the Las Vegas District Attorney’s office, personal fitness trainer, barback and front desk manager.