Reading "Rich Dad Poor Dad"

One of the biggest challenges I encounter as I speak to people and explain to them my vision for 'Samaan' is disbelief in their eyes. They have a doubt - what does this 16 year know about financial literacy and what makes her an expert that she is giving advice to others. 

I don't completely disagree with them. While I have empanelled experts in this field, it is still imperative that I build my own knowledge base. That is why I have started by reading the book "Rich Dad, Poor Dad" by Robert Kiyosaki. It is a book that helps the reader in developing personal finance skills by teaching them about correct investment, saving and financial growth opportunities. But most importantly this book builds a healthy mindset to view 'money'. 

Here are a few takeaways I have from that book"

1. Simply having a high income won't automatically increase your wealth, you need income-generating assets for that.

2. Take risks when it comes to your money

3. Develop a confident and free mindset when it comes to money

4. If it's not yielding any income, it's not an asset even if you have heavily invested in the same. For eg, the house in which you are living or a car that you are driving. 

I am about 65% into the book and on the flip-side, I find the book to be slightly tone-deaf when it comes to understanding the life story of economically underprivileged people . I don't think the author completely understands the lifestyle and challenges therein of those who barely make both ends meet and have hardly any disposable income (which is what most of my target audience is). So, I am treating this book like a blueprint that I need to use and apply over and above the context of the Indian low-income group. 

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