Rich Dad Poor Dad Author Launches New Book in Israel

Robert Kiyosaki, author of the international bestseller "Rich Dad Poor Dad," has launched his new book, "Rich Family, Smart Family," in Israel. In an interview with "Maariv Business," Kiyosaki discussed his philosophy on financial education, emphasizing the importance of introducing children to money concepts at a young age. He believes the greatest gift parents can give their children is not money itself, but the mindset to generate it.

The new book focuses on financial intelligence and the potential for anyone to improve their understanding and management of money. Kiyosaki, 79, noted that while the traditional education system prioritizes literacy, financial literacy is often neglected. He argues that in an increasingly independent work environment, understanding financial concepts is crucial. "If you are willing to learn, then you can be sure that your financial intelligence will increase," he stated.

Kiyosaki advocates for early financial education, suggesting that children as young as first grade can grasp basic concepts like value, cost, and exchange through age-appropriate examples. He recommends parents involve children in everyday financial activities, such as comparing prices during shopping trips or discussing bill payments. He also proposes families set up three separate funds: savings, investment, and charity.

Kiyosaki clarified that his approach does not require everyone to become a business owner, acknowledging that many people are suited to be employees. However, he stressed that salaried workers can still be investors in areas like real estate or commodities. He also addressed the common perception of a home as an asset, explaining that while it provides shelter, it also incurs costs like taxes and maintenance, suggesting its value as an investment should be assessed separately.

Concluding the interview, Kiyosaki expressed his belief that anyone can become wealthy, though it is not always an easy path. He highlighted that decisions made about earned income, particularly allocating funds for investments and financial learning, are critical. "This decision, over a lifetime, can determine whether you will be rich or poor. That is where our power lies," he concluded.