'Saving money is one of the worst financial moves': 'Rich Dad Poor Dad' author Robert Kiyosaki

From the moment we’re born, we’re destined for greatness — or so the Instagram quote will have us believe. But in reality, the only thing we’re truly destined for is mediocrity — both financially and in life. “Get good grades, so you’ll get into a good university, land a great job, and secure a comfortable retirement plan.” That’s the narrative society hands us. “Live below your means,” they say. “Build a safety net.” Meanwhile, the financial decisions that shape the fate of our world remain confined to the upper echelons of Wall Street and corporate boardrooms.

Over the past decade, conversations around money management have gained traction, but financial literacy still remains a topic shrouded in mystery for the average person. So, in a world where personal finance is ignored in classrooms and eroded in the workplace, where does one turn for guidance?

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

Consider Peter, a Dubai resident. Coming from a modest background, Peter knew early on that achieving financial security in Dubai would depend entirely on his own resourcefulness. Without an inheritance or family wealth to fall back on, he began saving a portion of his modest salary, following conventional wisdom. But Peter soon realised that simply saving wasn’t enough — his money was losing value due to inflation. The question haunted him: If I can’t save my way to wealth, what can I do?

Feeling lost, Peter turned to a book that would change his life: Rich Dad Poor Dad by Robert Kiyosaki. For the first time, he felt he wasn’t alone on his path to financial independence — a topic often silenced by cultural taboos surrounding money. Kiyosaki’s insights resonated deeply, offering a clear blueprint for escaping the financial hamster wheel. Peter, however, is just one of the millions whose lives have been transformed by Kiyosaki’s bestselling book.

Rich Dad Poor Dad, first published over two decades ago, has since become a cornerstone of financial literacy. Countless individuals cite the book as the catalyst for their journeys towards financial freedom. “I flunked out of school because I struggled with writing,” Kiyosaki told Khaleej Times. “So imagine the irony of writing a global bestseller. My teachers didn’t like what I wrote and frankly, I didn’t like them. Writing has always been a complicated journey for me.”

Democratising financial education

But his book wasn’t born out of a desire for intellectual validation. Instead, it was a response to questions that had haunted him for years­ — questions his father couldn’t answer, questions his teachers dismissed, and questions he ultimately had to resolve on his own. These unanswered questions became the foundation of his passion for teaching financial literacy. “I wanted to share the lessons I had to learn the hard way,” he said, urging individuals to think beyond conventional wisdom, which often traps them in financial complacency.

“You must ask yourself, why are you here? What is your purpose in life? What role are you meant to play in the universe? Think of it like this: a boat placed on dry land can’t fulfill its purpose. Similarly, we need to understand our function to thrive,” said Kiyosaki, who was recently in Dubai to speak at the Mega Campus Summit, held at the Coca-Cola Arena.

With over 30 books to his name — including two co-authored with Donald Trump before his presidency — 77-year-old Kiyosaki still remains steadfast in his mission to democratise financial education. “We’re told to go to school, study hard, get good grades, find a job, and pay taxes. That’s not financial education — that’s financial indoctrination. Financial education begins by questioning the traditional money mindset and narrative.”

Lessons from two fathers

In the bestseller, Kiyosaki contrasts his two father figures: his biological father, whom he calls his “poor dad”, and his mentor, whom he calls his “rich dad”. His poor dad was a brilliant educator — a PhD and the head of education at a school in Hawaii. But despite his academic achievements, he had no understanding of money. “When I was about nine or ten, I asked him when I’d learn about money. He told me he didn’t know,” Kiyosaki recalled. “Instead, he gave me the traditional teaching that ‘the love of money is the root of all evil’. But I couldn’t accept that answer.”

This early experience shaped Kiyosaki’s belief that money itself isn’t the issue — it’s the lack of education around it. “Money isn’t inherently good or evil; it’s a tool. What matters is how you choose to use it. The real issue is that most people don’t understand how to use it effectively,” he said.

Kiyosaki’s approach is unapologetic and often controversial, but that’s precisely what sets him apart. In a world where conformity is celebrated, he urges people to challenge the status quo. His teachings emphasise building assets that generate passive income over time through smart investments — principles he believes as essential for breaking free from the endless cycle of earning, saving and spending, a cycle he often refers to as the “rat race”.

“For instance,” he explained, “I don’t just own gold; I own the mines. I don’t invest in oil stocks; I own the wells. That’s the fast-track mindset. Most people focus on accumulating things, but true wealth comes from building assets that work for you. It’s not about working harder—it’s about working smarter.”

From rat race to fast track

Kiyosaki’s teachings go beyond theory. One of his other popular contributions to the world of personal finance is the Cashflow board game, which he created in 1996. The game introduces players to concepts like the “rat race” and the “fast track”, illustrating how wealth can be built through smart investments. “The purpose of the game is to awaken your financial genius,” Kiyosaki explained. “Play it five or ten times, and it will begin to rewire your thinking.”

The game is designed to engage both hemispheres of the brain. “Traditional schooling only engages the left side of the brain — the analytical side. But building wealth requires creativity, which is governed by the right side,” he added. “The Cashflow game helps balance both sides by developing not only intelligence but also imagination and innovation.”

The biggest money myth

• Is Bluesky the next Twitter? Why millions are ditching Elon Musk's X for this new platform