KLE Society’s Law College , Bengaluru

(Constituent college of KLE Technological university, Hubballi)

In-Semester Assessment
ASSIGNMENT
TOPIC:
“BOOK REVIEW”

STUDENT NAME: DEV S PANCHARIYA

SRN: 03FL22BBL005
SEM: 1ST SEM
SECTION: ‘A’
COURSE NAME (SUBJECT): GENERAL ENGLISH
COURSE CODE: 21LBLH101
 “Rich dad Poor dad”
-Robert. T. Kiyosaki-

In the book "Rich Dad, Poor Dad," two fathers are featured; one is a high school dropout and the other has a
portfolio of credentials. The overqualified parent will leave almost nothing behind when he Dies , with the
exception of a few scattered outstanding bills. The father, who dropped out of school, rose to become one of
Hawaii's richest men and left his son an empire. The former said things like, "I can't afford to treat myself to
this or that," whereas the latter said, "How can I reward myself?" throughout his life.

Through their personal experiences, the rich father in this book teaches two small boys essential lessons about
money. The most crucial thing to understand how to best use your mind and time to produce your own riches
through business and investments.

The way you think about money and how to make it will change after reading this book. Your assumptions and
understanding about money will be challenged, and you'll learn why some individuals become wealthy while
others live a life of poverty.

In this book the author has given six lessons which will help us in our life to use our wealth in a wise manner.

the first lesson is ‘Rich don’t work for money , money work’s for them’ here the author compare his own
father to a normal person who is caught in the rat race , here he tells that the society has rule that finish your
studies first , then start working and make money because that’s the only way you can live and survive in the
world. And finally we get addicted to our salaries and every time our expenses increase but our savings are
constant or nil and we get addicted to it. Every time we get our salaries first we remove all the expenses like
rent , grocery etc. then we pay tax ,fees and if some money is pending we keep it as savings. here the author
says that first keep the money for yourself and then distribute it. He says that we should concentrate how to
increase our saving then our expenditure and also tells us that we should start investing our money.

In the second lesson the author says that ‘it is easy to make money but difficult to keep and grow’ here the
author says that majority people in the world know to earn money but don’t know how to how to save it or
invest it , regarding this Robert say the difference between asset and liability , he say that asset Are those
things Whose value increases in future, not decreases. Asset is something which u buy/own it automatically
earns for you by itself. Nowadays people think that a car or a watch is an asset but Robert says it is an liability.
And he says that we should invest our money in assets which make us free from financial struggle.

The third lesson the author says is ‘mind your own business’ here he says Keep your current career, but start
thinking about starting your own business. Robert began his professional career selling Xerox photocopiers. He
put his earnings on real estate. In just three years, the revenue generated by his real estate assets surpassed
his salary. He subsequently chose to leave the organization and focus solely on his own business. He realized
that was the only way to escape out of the rat race. And he also says us that we should not only stick on on
one source income , we should start thinking how to generate other ways of income.

For the further lessons I strongly recommend everyone to read the book and apply those lessons in real life.
In the literal sense, Rich Dad, Poor Dad is an amazing book. I can't convey how much this book changed my
perspective on money, and particularly on wealth. Before I read this book, I was under the impression that all
"rich people" were born that way. That you needed money to get rich and that the only way out was to join
the rat race but I was wrong. Nowadays, I am confident that anyone can learn how to become wealthy and
that financial independence is an attainable goal if you approach it deliberately and patiently.

This book is recommended for anyone who wants to become wealthy and think like a wealthy person. People
who desire to modify their perspectives on money, education, and the world should read this book as well.