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Rachel McMichael:

Rich Dad Poor Dad by Robert Kiyosaki [Book Review]
In this post you may find affiliate links, which means that I may receive some compensation if you purchase something through that link. However, please know that I only ever recommend products I love and have personally used!

Today on the Business With Impact podcast, I am SO excited to continue our book review series.

If you haven’t heard, one of my goals this year was to read at least two books a month. By mid-February, I’d already read over 20!

But more importantly, I’ve already implemented at least one new thing from each book I read.

Imagine how much your business would change if you implemented one new thing every single week?

And here’s the best part —

not only am I going to share what I read and what I learned, but I’m also giving away 10 copies of this book.

Here’s how to enter to win…

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Leave a Review

Leave a review of our podcast on rachelmcmichael.com/itunes. If you’ve already left a review, update it with a new one. Screenshot your review and send it to us at podcast @ rachelmcmichael . com.

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Share a Screenshot

Share a screenshot of this episode on your IG Stories and tag me @rachelrmcmichael and Robert Kiyosaki @therealkiyosaki on Instagram.

We’re picking 10 new winners every week! And I’m sure some of you unicorns will end up winning time and time again.

I’m excited to introduce you to

Rich Dad Poor Dad by Robert Kiyosaki

This was one of those books I’d heard about and meant to read, but something else always came up.

If I had it to do over again, I would have read this book when I was 25 and read it every year since then (which would have me having read it more than a dozen times by now).

But while I can’t work backward, I can always move forward. And I’m going to recommend you read it today.

This was another book that I originally listened to on Audible and then bought the hard copy so I could mark it up over and over again.

Now there are lots of books out there on money and mindset and investing… but this book was different.

In it, Robert Kiyosaki uses the power of story to keep you engaged (and maybe also so that when he’s telling you all the things you’re doing wrong, you can still like him because he’s really just telling you what his poor dad was doing… right?!)

This book forever changed the way I view money, and really got me thinking about how we’re investing now and what we can start doing today to make positive changes.

Now as you know, whenever I read something, I try and find at least ONE thing I can implement now in my business or life (and ideally THREE great things).

This book forever changed the way I view money, and really got me thinking about how we’re investing now and what we can start doing today to make positive changes.

Here’s my top 3 takeaways from Rich Dad Poor Dad by Robert Kiyosaki:

#1

#1 – Financial literacy matters.

It’s so easy to bury our heads in the sand when it comes to things we don’t understand. And financial literacy is one of those for almost everyone.

It’s not something we’re taught in school – so unless your parents or mentors or friends shared it with you, it’s probably something you haven’t thought much about.

I have a master’s degree in accounting, and I can tell you right now that most of the concepts in this book weren’t included in my university level curriculum.

After reading this book, I took a few different actions:

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I scheduled a call with my attorney to talk about our corporate structure and if we’re doing things the best way possible.

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I texted a friend who is involved in a business I want to know more about and scheduled a lunch to find out what my next steps should be.

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Of course I decided to read another book in this series to get even more information on certain types of financial investments.

#2

The importance of paying yourself first in your business.

I spent the first several years in my online business reinvesting 100% of my earnings back into the company.

And after that, even when I would take a disbursement it was just a little bit here and a little bit there.

I remember the day I realized I was making far less than several of the contractors that were working for me at the time.

According to Robert, when we pay ourselves first, we will do whatever it takes to make sure our debts are also paid.

But when we pay everyone else first, there’s much less incentive to do what we need to do to bring in the revenues to cover our own salary.

In my personal experience – he’s spot on!

#3

The difference between assets and liabilities when it comes to personal investments.

This was a true eye-opener to me, because so many of the things that I’d assumed were my own assets are technically liabilities (things we’re still paying on).

This is where the power of self-discipline comes in, too. So often, we spend so much time buying things to keep up with the Jones’ only to realize one day that the Jones’ were one paycheck away from foreclosure.

The rich aren’t trying to keep up with anyone else – and their lifestyle is financed by their assets – not their liabilities.

From mindset to fear to how we can re-learn what we need to learn and teach our children about money – this book was incredible and is one of my Top 3 recommendations for books on money (alongside Dave Ramsey's Complete Guide to Money and Profit First by Mike Michalowicz.

And if you’ve read all three, you probably already know that they offer slightly different approaches and advice to wealth and money — but all three have had a major impact on my business and personal finances.

Have you read Rich Dad Poor Dad by Robert Kiyosaki?

What was your biggest takeaway? Tag me @rachelrmcmichael and Robert Kiyosaki @therealkiyosaki on Instagram on Instagram to be entered to win one of 10 copies this week. 

And if you’re looking for a list of all of my favorites, head to rachelmcmichael.com/books for a full listing of all of the books I recommend for online business owners. In this list I’m sharing my favorites for leadership, mindset, team building, productivity, audience and traffic growth, content creation, sales, and money.

As a final reminder…

we’re giving away 10 copies of this book

and there are TWO ways to be entered to win a copy:

Z

Leave a Review

Leave a review of our podcast on rachelmcmichael.com/itunes. If you’ve already left a review, update it with a new one. Screenshot your review and send it to us at podcast @ rachelmcmichael . com.

Z

Share a Screenshot

 Share a screenshot of this episode on your IG Stories and tag me @rachelrmcmichael and Robert Kiyosaki @therealkiyosaki on Instagram.

We’ll be announcing the winners one week from today… and this is one book you don’t want to miss out on!

Book Review Blog Cover

Check out our New Book Recommendation Guide

For more details on all of my favorite books for online business owners (including books on leadership, mindset, entrepreneurship + team building, productivity, audience + traffic building, content creation, sales, and money + finance, click here.

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