Rich Dad Poor Dad (Book Review)

The author of this book, Dave Ramsey, is a man who has gone through many struggles in his life. Throughout his book he talks about the times when he went bankrupt and couldn’t provide for his family. Dave Ramsey sat down and wrote a plan on how to be smart with your money. Ramsey says, “The principles are not mine. I stole them all from God and your grandmother” (xi). He talks about how these are not new ideas and that these are not theories because they are proven to work every single time. The central concept of this book is to help people succeed in life with money but also their personal relationships. Ramsey wants to give people hope and happiness by playing a small role in their financial freedom.

Also, when people don’t have individuality and are used to doing what they are told, they don’t pay attention to what’s going on around them. In contrast Ellsworth Toohey feels that men should do as they are told and in the end this will make them happier. In Toohey’s eyes thinking is the worst thing possible and people who don’t ask questions are the smart ones. This view is seen in the following lines, “Everything bad comes from the mind, because the mind asks to many questions. It is blessed to believe, not to understand. So if you didn’t get passing grades, be glad of it. It means that you are better than the smart boys who think too much and too easily (Rand 298).” This quote means that people are smarter when they go along with ideas that everyone else has already created. People don’t need to think and create new ideas. Toohey feels that there shouldn’t be any individuality and creation. He feels that people should do what the group thinks and wants.

The negative effects can be seen in that competition for jobs in American society is so competitive that author John Michael Roberts asserts that people, "Work for free" (28). While Americans tend to believe that competition brings out the best in people, the Marxist theory states that it actually brings out the worst in people such as greed, selfishness, and unethical actions. This can be seen by how the characters of "The Lesson" and Callie's family are living in extreme poverty despite being in the richest nations in the world. Danzinger and Danzinger assert, "The child poverty rate in the US is high in relation to the rate in other industrialized countries" (57). This high poverty rate can be seen in "The Lesson" and it shows how competition can leave some people at the bottom even in New York, one of the richest states in the United States. Miss Moore sees that it is unjust for kids to be living in such poverty and says, "Imagine for a minute what kind of society it is in which some people spend on a toy what it would cost to feed a family of six or seven" ("The Lesson", Bambara 151). While some people get rich off competing, some get left behind and many times the ones that do get ahead had to do something unethical. Sylvia notices all of the unethical practices it takes to get ahead in a competitive society and as a result, when Miss Moore gives Sylvia money

A corporation is distinguished by reference to different kinds of things which the law selects for personification. The individuals forming the corpus of corporation are called its members. The juristic personality of corporations pre-supposes the existence of three conditions :

Throughout the book, it goes into looking at different forms of millionaires and how these millionaires acquired their fortunes from, how everything takes time and energy. Most

The book” The Millionaire Next Door” is written by Thomas J. Stanley, Ph. D and William D. Danko. This book goes into great, detail in explaining different stories and examples of how millionaires made their millions and how they kept it. I’ll be telling you about five main points I learned throughout this book and the ways I want to take these points and include them in my life. By, doing so I hope will help to change my lifestyle habits when it comes to financial needs for my family and myself.

In the “Millionaire Next Door” written by Thomas J. Stanley, Ph.D. and William D. Danko. This book goes into detail in explaining different stories and examples of how millionaires made their millions. Throughout this book, I learned five points and I'll be explaining how I want to include these points in my life from everything takes time and energy, why being frugal is important, why you aren't your vehicle, whether I'm a PAW or a UAW and why education is important. In taking these points and the ways that I will add them to my lifestyle when it comes to financial needs of myself and my family.

What do you think of when you hear the word millionaire? Do you envision fancy cars, expensive attire, sparkly jewelry, an elaborate mansion? I know I did, that is until I read the book “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko. Did you know that your typical millionaire may be living in your neighborhood or sitting at the next table over in your favorite family restaurant? The book is based on in-depth interviews and research of American millionaires and how they are able to stay wealthy by being frugal and not overspend.

2 “It is the mark of an educated mind to be able to entertain a thought without accepting it “

“We are the proper inheritors of these great thinkers, but we tend to approach life with just our own resources and whatever insights we can pick up from the people around us” (Morris ix).

A corporation is an independent legal entity, separated from ownership and management. In the eyes of the law, corporations are recognized as its own “person” that is able to enter into contracts, incur and pay debts, and pay taxes. Advantages are tax-deductible expenses, unlimited life (not affected by the death of an owner), unlimited capacity for shareholders, easy transfers of stock, and protection of personal assets. Owners are not responsible for the corporation's liability.

Having a high IQ and/or a high level of education is no guarantee of wealth. After college, the author got a high-paying job working for the merchant marine, but he quickly quit to join the Marine Corps, where he became a naval aviator. Poor dad thought this was a reckless and stupid choice whereas Rich dad liked it. In reality, the author went from job to job in order to gain different types of skills and experience that would help him later on as a businessman: The merchant marine taught him about international trade, the Marine Corps taught him leadership, and Xerox taught him how to be a salesman.

What is a Corporation? Due to the financial crisis that has been emerging, the nature of the Corporation has been the subject of considerable debate. While this is a complex subject, two points of view has been emerging. At one end is the view that the Corporation is an organization of individuals designed to provide goods and services to consumers, institutions, and companies. It also generates benefits to society in a variety of ways, including the many services and goods these corporations efficiently produce and the many jobs that they create. On the other end, there is the view of the corporation as an organization that will use all lawful means for its

In the case of Salomon vs. Salomon, the principle coming out of this case specifies that once a company is formed and complies with the regulations of the Companies Act in the country in which it is being incorporated it is a separate person and is not the agent or trustee of its owners. As a result, the debts of the company are its own and not those of the members. The members’ liability is limited to the amount prescribed in the Companies Act (i.e. the amount they invested in the company).This case is seen as the leading decision which establishes and confirmed the principle of the separate corporate personality of a company that is incorporated.

In Rich Dad Poor Dad a lot of useful tips can be pulled from the reading. Robert T. Kiyosaki has taught me many things about the importance of financial literacy and smart spending. After reading this book I now feel I can make better decisions with my money that will help me throughout my life. I believe that I now have the upper hand when it comes to financial planning and my financial future. I feel that I now have the knowledge many people will never be blessed with.