However, he argues that understanding money and being able to read financial statements and having financial literacy is the key to being successful in any area of investing. The book also highly advocates having a business, owning paper assets such as stocks, bonds, mutuals funds as well as being an entrepreneur.
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The book does not outline steps on how to become rich or what specifically to invest in but Kiyosaki does identify real estate as the primary asset type that helps in attaining greater wealth because of its ability to generate cash flow while appreciating over time as well as having large tax saving benefits for Americans. The book explains that the wealthy teach their children about money to ensure their financial success in life while the poor and middle class rely mostly on the school system which does not teach anything about money, even at the college level in business schools. The author argues that the reason why so many poor and middle class people don't become rich is because they simply don't understand money and have values or beliefs that prevent them from getting there, such as "all rich people are greedy". Rich Dad Poor Dad was written by Robert Kiyosaki and advocates financial independence primarily through financial literacy and understanding money the way a rich person does.
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