2021 Book Club - February *Rich Dad Poor Dad*

Posted by Jen Scholte Team on Tuesday, February 9th, 2021 at 2:12pm.

FEBRUARY Book Club - January Review (Rich Dad Poor Dad) February Introduction (The Monk Who Sold His Farrari)


Hello and welcome to our February edition of Virtual Book Club with Andrew Little, Sales Representative with the Jen Scholte Team. I hope everyone had an excellent start to 2021 and found some time to get outside and enjoy the sunshine as well as time to cuddle up by the fire with a good book. Thank you to everyone who has joined or is following along with us. 


For the month of January we read Rich Dad Poor Dad by Robert T. Kiyosaki which explores the topic of Personal Finance. Originally published in 1997 this book has been on the top sellers list and sold over 40 Million copies. This book has stood the test of time and is a great place to start thinking differently about personal finance.


Throughout the book Robert discusses the lessons taught to him by both his biological “Poor Dad” and his friends father and mentor “rich dad”. Roberts “Poor Dad” sees personal finance how the majority of people do today. He lives by the blueprint we are taught in school. Work hard, get a good education and find a good company to trade your hours for money. Although Roberts “Poor Dad” had a good education and worked for a good company all his life making a healthy salary, he never seemed to have much money left at the end of each month. After paying his bills and spending his hard earned dollars on his typical monthly expenses, “Poor Dad” struggled to save and get ahead. Roberts “Rich Dad” on the other hand was an entrepreneur without a formal University or College education and had a different outlook towards personal finance and insisted on paying himself first and putting his dollars towards assets which produce more money to cover lifes expenses.


Rich Dad Poor Dad stressed 6 main points throughout the book.

  1. The rich don’t work for money

  2. The importance of financial literacy

  3. Minding your own business

  4. Taxes and corporations

  5. The rich invent money

  6. The need to work to learn and not to work for money

I would recommend this book to anyone who is looking to get a better handle on personal finance. As mentioned the ideas discussed in the book generally stand the test of time and are true to this day. While there is further learning needed to execute some of his oversimplified ideas around investing, this is a great starting point to motivate you to continue on the path of learning and challenging the way we think about money.

 

For the Month of February I have chosen to read The Monk Who Sold His Farrari by Robin Sharma. This book was recommended by my Wife and has been on my read list for awhile now. The book is a story of Lawyer Julian Mantle whose hugely successful career masked a deep emptiness within. Julian sets out on a journey to fill this sadness through personal development and explores how we see prosperity, vitality, happiness and inner Peace.

I look forward to reading this book throughout February and as always I would love to hear your opinions and receive book recommendations to add to my read list.

For all things Book Club related please contact me at : andrew@scholtehomes.com


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