Rich Dad Poor Dad

By Robert T. Kiyosaki and Sharon L. Lechter

(Paperback Edition 2001, Warner Business Books)

One of the most popular self-help financial books to have emerged from the decade, “Rich Dad Poor Dad” is certainly of interest to accountants because of its many business-related concepts (Kiyosaki is an entrepreneur, while Lechter is a Certified Public Accountant) that can sometimes challenge fundamental accounting principles, as well as it offers an intriguing concept of “Don’t work for the money… let the money work for you.” It is part autobiographical, told mainly from the viewpoint of Kiyosaki, of two “dads” who taught him of two different approaches to success — one of traditional thinking of “working to live”, and the other of being business-smart so as not to fall into the “Rat Race”. The book stresses the importance of gaining financial literacy — not being dependent on salaries, retirement pays and pensions; but instead using available money-making tools to your advantage, such as investing, real estate, and entrepreneurship. It also reinforces the power of positive thinking, which is crucial given the current global economic crisis. While it may not dish out concrete “how to be rich” tips, it nevertheless gives an ample dose of inspiring food for thought. Kiyosaki himself even says that “Accounting is the most important subject in your life.”