Rich Dad, Poor Dad by Robert T. Kiyosaki

Rich Dad, Poor Dad

Personal finance author and lecturer Robert T. Kiyosaki developed his unique economic perspective from two very different influences - his two fathers. One father (Robert's real father) was a highly educated man but fiscally poor. The other father was the father of Robert's best friend - that Dad was an eighth-grade drop-out who became a self-made multi-millionaire. The li...

Title:Rich Dad, Poor Dad
Author:
Rating:
ISBN:0751532711
Edition Language:English
Number of Pages:195 pages

Rich Dad, Poor Dad Reviews

  • L

    This book is not just about money. It's about how we are taught to think; how we are programmed by schools, family, and friends to look at the rich as greedy no good bloodsuckers and opportunities as risks. It is an attempt to reprogram minds to look at why we do what we do.. why do we buy all these shoes, clothes, cars, jewelry.. have we earned it or are we just trying to maintain an image?

    To me the most important thing it teaches is that being educated is the key.. educated in our motives, in

    This book is not just about money. It's about how we are taught to think; how we are programmed by schools, family, and friends to look at the rich as greedy no good bloodsuckers and opportunities as risks. It is an attempt to reprogram minds to look at why we do what we do.. why do we buy all these shoes, clothes, cars, jewelry.. have we earned it or are we just trying to maintain an image?

    To me the most important thing it teaches is that being educated is the key.. educated in our motives, in money, in the world around us.. educated does not always mean a degree lessons can be learned anywhere at anytime..

    The book is great for people like me who think in pictures and in theory. He explains his financial theories clearly and adds diagrams to explain how money flows into and out of our wallets. I have read other financial self-help books and they were too detailed, too "do this...do that..." For me that didn't help or motivate me because, I don't do anything unless I want to do it. Other books never really gave me the why. They told me what I needed to correct.. but if I don't see anything wrong in what I am doing.. why should I take steps to correct it? This book broke down to me the whys. And now I am ready for action.

  • Troy

    I bought this book on the recommendation of a client, and from page one I was feeling uncomfortable with it. I pushed aside the part of my mind that was shouting "This guy is trashing highly educated people and the working poor!" and I was able to actually become enthusiastic about the message of the book.

    Here is the message of the book, and as far as I can tell, the only thing of value in its pages:

    * When you own something, it is either putting money into your pockets, or taking money out of

    I bought this book on the recommendation of a client, and from page one I was feeling uncomfortable with it. I pushed aside the part of my mind that was shouting "This guy is trashing highly educated people and the working poor!" and I was able to actually become enthusiastic about the message of the book.

    Here is the message of the book, and as far as I can tell, the only thing of value in its pages:

    * When you own something, it is either putting money into your pockets, or taking money out of your pockets. Owning a business or earning royalties creates income. Owning a house and a car incurs expenses.

    * Try to own things that put money in your pocket.

    * If you rely on earning a wage or salary to put money in your pocket, you will be forever caught up in the vicious cycle of needing money, earning money and spending money.

    There you go. That's the big message this book will impart to you, and it will do it slowly and repetitively in the first three chapters, leaving the remainder of the book for the author to drone on and on about how turned $60,000 into $80,000 without ever going into specifics.

    Early in the book the author lists royalties as a form of income. Later in the book he disparages a young writer who laments that she hasn't been "discovered" yet. He tells her to take courses in marketing, which horrifies her (as it would me). He goes on to explain that his best-selling books are best sellers because he knows how to market them.

    I then saw the $10+ I dropped on this book as just another dollar in his pocket. He writes about 200 pages of repetitive, non-specific advice with only one interesting message (see above), and people line up to throw money at him because of a compelling title and a tough-love story. Towards the end, I felt embarassed to be seen with this book in public, just like I'd feel for responding to a "get rich quick" spam mail.

  • Dan

    This book may do a good job of getting you excited about your financial future but the false information it teaches negates any benefits.

    I believe this book does a disservice to the public. I suspect it was written to appeal to those who are failing in the world's conventional definition of success.

    Saying that higher education isn't worthwh

    This book may do a good job of getting you excited about your financial future but the false information it teaches negates any benefits.

    I believe this book does a disservice to the public. I suspect it was written to appeal to those who are failing in the world's conventional definition of success.

    Saying that higher education isn't worthwhile is misleading. I agree it isn't essential (and possibly not even helpful in rare circumstances), but the high correlation in the general public between education and wealth cannot be ignored.

    He also gives poor advice in finances and investing. For example, not adhering to diversification. Or getting out of a stable job (a.k.a. "rat race") where "even if you win you're still a rat."

    The author praises learning correct accounting but then proceeds to butcher even the most fundamentals. For example, his first rule is "You must know the difference between an asset and a liability" but then he proceeds to claim that your home is a liability, not an asset. Completely backwards. Any accountant will tell you so.

    The book is full of exaggerated and sometimes completely false anecdotes -- for example, it appears the entire premise of the book is false -- there never was a rich dad and Robert wasn't wealthy until he embraced MLM and started selling get-rich books.

    If you just want some motivation, please try another book such as "

    ." If you want sound personal financial advice, please read "The Only Investment Guide You'll Ever Need."

    See

    for an in-depth critique of Kiyosaki and charts showing the correlation between education and wealth.


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