Robert Kiyosaki (born April 8, 1947) is an investor, businessman, self-help author and motivational speaker. Kiyosaki is best known for his Rich Dad, Poor Dad series of motivational books and other material. He has written 18 books which combined have sold over 26 million copies.Three of his books, Rich Dad Poor Dad, Rich Dad's CASHFLOW Quadrant, and Rich Dad's Guide to Investing, have been on the top 10 best-seller lists simultaneously on The Wall Street Journal, USA Today and the New York Times. The book Rich Kid Smart Kid was published in 2001, with the intent to help parents teach their children financial concepts. He has created three "Cashflow" board and software games for adults and children and has a series of "Rich Dad" audio cassettes and disks. He also publishes a monthly newsletter.
A large part of Kiyosaki's teachings focus on generating passive income by means of investment opportunities, such as real estate and small businesses, with the ultimate goal of being able to support oneself by such investments alone. In tandem with this, Kiyosaki defines "assets" as things that generate money, such as rental properties or businesses, and "liabilities" as things that cost money, such as house payments, cars and so on. Kiyosaki also proclaims financial leverage to be critically important in becoming rich.
Kiyosaki stresses what he calls "financial literacy" as the means to obtaining wealth. He says that life skills are often best learned through experience and that there are important lessons not taught in school. He says that formal education is primarily for those seeking to be employees or self-employed individuals, and that this is an "Industrial Age idea". And according to Kiyosaki, in order to obtain financial freedom, one must be either a business owner or an investor, generating passive income.
Kiyosaki speaks often of what he calls "The Cashflow Quadrant," a conceptual tool that aims to describe how all the money in the world is earned. Depicted in a diagram, this concept entails four groupings, split with two lines (one vertical and one horizontal). In each of the four groups there is a letter representing a way in which an individual may earn income. The letters are as follows.
E: Employee — Working for someone else
S: Self-employed or Small business owner — Where a person owns his own job and is his own boss.
B: Business owner — Where a person owns a "system" of making money, rather than a job to make money.
I: Investor — Spending money in order to receive a larger payout in return.
For those on the left side of the divide ("E" and "S"), Kiyosaki says that they may never obtain true wealth. Conversely, those on the right side of the divide ("B" and "I") are supposedly following the only road to true wealth.
Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing. He has now had at least a dozen books published. A partial list of his books is included below.
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money—That the Poor and Middle Class Do Not! (1997)
Cashflow Quadrant: Rich Dad's Guide to Financial Freedom (2000)
Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! (2000)
Rich Kid, Smart Kid (2001)
Rich Dad's Prophecy (2002)
Why We Want You To Be Rich coauthored by Donald Trump (2007)
If you want to be Rich & Happy don't go to School? (1992)
The Business School for People Who Like Helping People (2001) - endorses multi-level marketing.
Retire Young, Retire Rich (2001)
Rich Dad's The Business School (2003)
Who Took My Money (2004)
Rich Dad, Poor Dad for Teens (2004)
Before You Quit Your Job (2005)
Rich Dad's Escape from the Rat Race - Comic for children (2005)
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