Rich Dad Poor Dad Reflection
ECON 2013 Prof. Aileen Camba
“Rich Dad Poor Dad” Summary
Robert Kiyosaki has two fathers, one is his poor dad and the other one is his rich dad. His educated dad whom he calls his poor dad is his biological father and his rich dad is Mike‟s, his best friend, father. Both have their own perspective about money and both have different principles in life. As a kid, Robert wanted to know how to get rich because they were tired of other kids not wanting to play with them because they were 'poor kids'. His educated dad told him to learn how to make money. Since he was still a kid that time, he and his best friend Mike came up with a plan of literally making their own money. His educated dad and suggested to …show more content…
Many of us can even make our own hamburgers that are far more delicious than McDonald‟s hamburger but still it is not enough to beat the success of McDonald‟s. Ray Kroc, owner of McDonald‟s corporation, says it is not the hamburger business he is in but a real estate business. If the hamburger won‟t sell anymore, he still has his properties of every McDonald‟s franchise to sell and even make more money. If you would quit your job today and spend all of your money to real estates, I couldn‟t assure you of success you will be having. Before spending your money onto something, be smart enough on how you would spend it. Start building your assets not just focusing on trying to increase your income because you tend to buy expensive consumer goods and forget about saving it for assets.
The History of Taxes and the Power of Corporations The reason why companies pay less tax than the poor and middle class people is that they help the economy by providing job opportunities to the jobless people. They have the tax advantage compared to the middle class whose focus is to be paid more by their employers. Little did they know, the higher their salary goes up, the higher the tax they pay for the government. Corporate owners also get asset protection. If ever something tragic happen to their company, their personal assets like their houses won‟t be sued. The Rich Invent Money What most poor and middle class