Rating:  Summary: Why this book is Great Review: People are always looking for get-rich quick schemes. Kiyosaki is not selling you a bunch of secrets on how to get rich. What he is selling is a new way to look at personal finances, and how to train the children around you. He is selling the idea that most people (Americans) are too wrapped up in conspicuous consumption and trying to obtain those material goods that define wealth in our society. He shows us some really basic ways of thinking that can stop the cycle of living check-to-check and actually accumulate wealth.
Many reviewers are confused. This book does not teach you the secrets of the rich, nor does it try to. Don't give it 5 stars because it showed you the 15-yr old trick of buyging foreclosed properties. Take his investment ideas for what they are - creative ways of using the tax and real estate market to your benefit.
First thing we should all do after reading this book is sit down with a pencil and paper, and draw our personal balance sheets. If Assets are less than liabilities, reconsider your spending habits, and get smarter. If not, good job. Now start making that equity work for yourself by using your natural abilities of creativity. Thanks Kiyosaki for putting this in an easy to read book. Let it serve as an educational tool or a reminder to all of us.
Rating:  Summary: Most assuredly A MUST READ! Review: Rich Dad Poor Dad is undoubtably the best financial book ever written! I like the fact that Kiyosaki himself started with no money and was able to escalate to super wealth.I also like the fact that Kiyosaki discourages debt except for investments like real estate and stocks. Too many people charge up their credit cards for dining, clothes and other depreciating items. If you are going into debt, advises Rich Dad, do it with things that go up in value like using leverage in real estate and buying stocks on margin. Kiyosaki's advice on buying small cap stocks is also good advice. NOTE: He does not advise cheap penny stocks as others have falsely indicated. This book reminds me a lot of the legendary "Think and Grow Rich" by the late great Naploean Hill and "The Richest Man in Bablyon" by George Clayson. Perhaps that is why average people have so much difficulty with these books and in particular, Kiyosaki because he is the hottest financial author of the last ten years. But you know, I have met hundreds of people who attribute their wealth to "Think and Grow Rich", "Richest Man in Bablyon" and now "Rich Dad Poor Dad." Obviously, these were average people who thought at an above average level and were willing to be corrected. If you are new to Rich Dad, I recommend you start with this one and "Rich Dad's Success Stories." I also recommend "If you want to be rich and happy then don't go to school." "Cashflow Quadrant", the second in the series is also a must read. If you have been "guru-ed to death" by so called "financial experts" who advise you to cut your credit cards then I also suggest "Rich Dad's Guide to Becoming Rich ...Without Cutting up your credit cards" currently available as a e-book and another one of my personal favorites. Rich Dad Poor Dad is an OUTSTANDING book. The fact that certain factions have criticized this fabulous book tells me that Kiyosaki is doing something right and shaking up the right people. The advice works only if you are willing to use it and go to work. You also have to read the book. I was talking with someone this morning who said he bought this book 2 years ago and never read it! Yeah, you have to read it too (the whole book, not just the free sample pages here on the internet ala the 1 star bashers) and then you make some powerful gains! Best of luck.
Rating:  Summary: Millionaire School Review: Rich Dad, Poor Dad offers good stories and advice for the reader who really wants to make money work but doesn't want to read a dry financial text. This is not a guide to making your money work so you don't have to work at all. It is a sensible approach to balancing your life and finances. Rich Dad, Poor Dad challenges the reader to take a detailed look at what works and what doesn't work in managing lifelong goals. I used to make a living as a financial advisor, so I know that setting realistic goals and managing finite resources is one of the biggest concerns of investors. Kiyosaki challenges each reader to do what is right based on personal goals and desires rather than following a cookie cutter approach to wealth. This is a good book if you are looking for a new perspective on the age old dilemma of having more. Just remember that the information is presented in a storybook format for your enjoyment. Ultimately, you're left with the hard decisions of having to sort out the specific advice that works for your situation. After reading Rich Dad, Poor Dad, check out Rat Race Relaxer: Your Potential & The Maze of Life by JoAnna Carey for goal oriented tips that help you take inventory of your personal wealth.
Rating:  Summary: A review from someone who has actually read the book Review: Robert Kiyosaki puts it on people to think differently. To make his point he uses his two fathers, one, his real but broke father who followed traditional methods and his rich dad, his friends real dad but Kiyosaki's mentor who thought like a rich person and became wealthier. Kiyosaki tells us that his poor father, like most middle class and poor people thought that saving was safe and investing was risky. His Rich Dad however thought, like most wealthy people do that investing is safe and saving is risky. Kiyosaki goes on to say that his poor but real dad believed get a good education and get a job and you will be alright. Kiyosaki explians the insanity of this belief using his real father as an example who was fired for bucking the system and died at an early age. His Rich Dad however, felt that the key to wealth is to become financially smart. To create businesses, invest in real estate. To invest your money on assets that create income not things that cost you money. Kiyosaki takes a lot of flack for saying that a house is not an asset. As Kiyoasaki explains, the real problems is that for most people, as their income goes up, they buy bigger homes. Bigger homes mean higher taxes, higher maintenance etc. Your homes is then not an asset to you but an asset to the realtor, mortgage banker, tax man etc. Kiyosaki also explains how so many people are getting pushed around. He almost laughingly says that you don't need terrorists to bully you, because so many people are getting bullied each day by their employers, taxes, and so on. Middle income people pay the absolute most in taxes and have the least amount of freedom and security. If you think that there is security in your job, then you have been living in a cave for the last 12 years. Another problem is that more people than ever are placing their retirement and their passive income on the stock market. People who saw the rapid growth in the 90's thought that was normal. That was not normal. We were fortunate to have a visionary President named Ronald Reagan who created policies during his term that set the stage for the incredible growth that transpired during the 1990's. When Reagan took office in 1981 the Dow Jones was around 900. By 2000 the s&p was higher than that, the Dow was around 12000 and the Nasdaq was over 5000. Big difference. Kiyosaki explains why this is insanity. You need to take control of your finances and learn how to invest. If you really think your broker can help you, check out the trillions that were lost since 2000 following a brokers advice. How would you like to have been one of the millions ready to retire only to see you 401 (k) plummet to such low levels that made retirement impossible? Kiyosaki also speaks to the misdirected belief in social security, or is that social insecurity? The reason that Kiyosaki gets a lot of flack is because there are people out there who hope you never read his books or attend his seminars. They want to turn your money over to them (brokers) and let them watch your money for you. I guess they must still be watching those trillions of $$$ that were lost from 2000 to 2002 because som m any people never saw that money again. You boss hopes you never read this book too. Your boss wants you to create his dream, not yours. And there are others. Best I can say is, give it a shot. It's only a $15 book. Most people spend more money than that on soft drinks and cigerette's in a week. A millionaire once told me that the book you miss won't help. Spend $15 on soft drinks and cigerettes but can't spend it on a book that can change your life? Shame on you! (...) Thank you Mr. Kiyosaki for sharing the gems of wisdom that your Rich Dad shared with you.
Rating:  Summary: Nothing new. Don't waste your time. Review: The book has some good ideas but they won't make you rich. It seems that the best thing to do is what author is doing: put many half truth - sweet sounding ideas together and sell them to people who want to get rich fast and easy (and that's everyone).
You want to do what author was doing: investing in small companies stocks? Good luck.
He may have made good mony in buying foreclousers when no one was doing that. But you try it now when millions are probably trying to do the same thing. Good luck again.
What author is doing is selling you ideas that used to work for him some times ago, but not anymore.
Author is saying: don't work, don't run your business. Own business and let other people work. I agree that it sounds great. But is this reality.
Why didn't Kiyosaki retire already?
Rating:  Summary: Fantastic book! Review: There are good books and there are great books. Rich Dad Poor Dad is a F-A-N-T-A-S-T-I-C BOOK! Highly recommended for all financial achievers.
Rating:  Summary: A highschool senior's view on Rich Dad Poor Dad. Review: Thesis: The point of Rich Dad Poor Dad is to teach people the financial information that the antiquated school system is incapable of teaching. Kiyosaki made clear the difference between an asset and a liability, and the importance of knowing how to make assets work for you. He also focused on the idea of having money work for them, instead of working for money. Summary and Analysis: In Robert Kiyosaki's Rich Dad Poor Dad , Kiyosaki tells parents that the worst piece of advice that you can possibly tell your children is to go to school, study hard, get good grades, get in to a good college, graduate and find a secure job. Kiyosaki feels that schools are teaching students how to be employees, not employers. Kiyosaki teaches the reader through telling the story of his two fathers; his "Rich Dad", and his "Poor Dad." His real dad, the poor one, was a very well educated man. He graduated from college, earned a degree, and became the head of education in Hawaii. Even with all of his education he lived most of his life in poverty. His "Rich Dad", who was actually his friend Mike's Dad, was the one who provided him with an education on business success. His "Rich Dad" was a high school drop out, who was very financially knowledgeable and really knew how to make money work for him. Even though not scholastically educated, Kiyosaki's "Rich Dad" turned out to be one of the richest tycoons in Hawaii. Kiyosaki is able to provide business advice from many different viewpoints telling the reader which father's advice he chose to follow. Kiyosaki teaches many lessons ranging from "The rich don't work for money", and "Mind your own business", to "Work to learn-Don't work for Money", and "College education for $7,000." In his wide variety of lessons, Kiyosaki teaches us that a standard college education is not enough to be financially independent and prosperous. In changing times it is important to be financially literate. Kiyosaki truly teaches us how to make money work for us by making a lucrative asset column, and focusing on new investments in both property and stocks. This book really opened up a whole new outlook into business and investments for me. I had never really thought about the whole liability versus asset issue before, and never really realized how important a financial education is. Kiyosaki's usage of diagrams, as well as clear descriptions made the book very clear and understandable. I find myself thinking about possible investments and new business ideas because of the different ideas his book gave me. Rich Dad Poor Dad had a very big influence on me and has made me more financially literate and will make me more successful in the long run.
Rating:  Summary: Great book for people with no investing background Review: This book focuses on having people change the way they think about managing their money. It is very useful for those that are stuck in the typical go to work, get money, spend money, go back to work and start all over again. This book provides a new outlook for those people and does list some available resources to expand your knowledge about the more specific details to investments.
Rating:  Summary: A Must Read For The "Head-In-The-Sand" Wage-Earner Review: This is an excellent book for those who will remove their head from the sand long enough to read it. And it will make you think about HOW you were raised (in terms of financial thinking) and how you WANT to raise your kids. I think this book is so good that even if you don't buy it, you should borrow it from a friend or the library. *NOTE: If you do not like parables, then you will probably not like this book.
Rating:  Summary: Life Changing Review: This is my first review that I have written. I have read several of Robert's books and they are the best around. I also have a Business Degree and a great deal of education and I'm happy to say that reading his books were more valuable (in the long run) than my BS or MBA! Now don't get me wrong, I highly encourage education. Here is what I did:
Went to school, got good grades and a high paying job (sales and marketing position = solid pay and learning selling and communication skillls w/ others which are the most important skills in life).
I then took Roberts advice and took most of the money that I made and spent it on assets (anything that puts money in your pocket-- real estate, small businesses, vending machines, stocks, ect...) and refused to purchase "doodads" (overly priced watches, clothing, boats, vacations, cars, shoes, furniture ect..). This is the secret to wealth. Make 80,000 and live like you make 40,000. Spend the remainder of the money on assets for a few years and retire when your 40 a multi-millionare.
Then Once your rich you can buy the nice things. Use your assets to buy your luxuries. Most Americans use debt to purchase their luxuries. They have it completely backwards and that's why we are such a debt ridden society.
I am taking the time to write this becuase I want others to know how important this book is. I will have my kids read it as soon as they are old enough to understand and appreciate its advice. Robert teaches the fundamentals of "thinking rich."
This book is all about shifting your paradigm to understand how to become wealthy. I can tell you in a few sentences how to do it, but I HIGHLY reccommend reading his book as well in order to fully engorss your self in the concept. It will change your life!
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