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Rich Dad, Poor Dad Abridged

Rich Dad, Poor Dad Abridged

List Price: $24.98
Your Price: $16.49
Product Info Reviews

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Rating: 5 stars
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: 5 stars
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: 5 stars
Summary: Happy Fathers Day Rich Dad!
Review: A almost belated but still deserved Happy Fathers Day to Rich Dad and to Mr. Kiyosaki for popularlizing these technques. Thank You Rich Dad! Thank you Mr. Kiyosaki!

Rating: 5 stars
Summary: Powerful, life changing program
Review: A few months ago, I was working in sales for a B>B Business Group. I followed Mr. Kiyosaki's advice and started investing my money in passive income. I bought some equities, a rental or two and started a home based business.

While my colleagues spent their checks and worked for ThankGodItsFriday and cheer for Wednesdays because it was "hump day" and yell hooray for the weekend, and then made wise cracks about my goals. I invested, left that company over 6 weeks ago and am now full time in my own business. Meanwhile, my colleagues were recently served notice that their company (my former company) is laying off 150 people!

Thank God for Robert Kiyosaki.

Rating: 5 stars
Summary: Still a best seller for a reason---it works!
Review: I first heard of this book when J.P. Morgan on the cover of the Wall Street Journal referred to Rich Dad Poor Dad as a "must read for millionaires."

Most people know by now that this is the true story of Kiyosaki's two fathers, one, his real dad had a high income but was poor. The other, his friends dad, but Kiyosaki's mentor and Rich Dad.

Kiyosaki learned that income alone does not create wealth as he learned from his "Poor Dad." Seeking financial freedom, Kiyosaki learned from his "Rich Dad" the keys to wealth.

Kiyosaki went on to amass a fortune and lost it. But remembering the lesson taught from his "Rich Dad", started over and amassed yet another fortune and retired at age 47.

The book will tell you some things you don't want to hear like a house is not an asset, 401 (k)s and so called "safe" investments are not quite so safe. That there is no such thing as job security and the world is full of "bullies" who will tell you how much money you can make, when and how many vacations you can take, lunch breaks etc.

Kiyosaki's "Poor Dad" was fired at age 50 and learning from this, Kiyosaki tells us that the only real security and freedom is in being your own boss.

Kiyosaki goes on to say that both of his dads were "honest, good, honorable men" but his poor dad, although a hard worker was weak and consequently ended up broke.

Interesting is that Kiyosaki pledges his first book, "If you want to Be Rich and Happy, Don't Go To School?" to his poor dad.Goes to show that Kiyosaki has class and truely loved his Poor but real dad.

Rich Dad Poor Dad is an excellent book. The main message is to take responsibility for your life. You are either a master of money or a slave to it.

In addition to Rich Dad Poor Dad, I also recommend "Cash Flow Quadrant", "Rich Dad's Success Stories", "The Millionaire Next Door" and "More Wealth Without Risk."

Rating: 2 stars
Summary: Feel good book with no financial wisdom
Review: This is a great motivational book for the financial neophyte that wants to take charge of their life. That being said, there is NO information in this book to do just that! Robert T. Kiyosaki can spin an interesting tale of rags-to-riches thru sweat 'n toil, but he is too busy tooting his own horn to give you any insights. As I was reading this book I was waiting for the details, instructions, SOMETHING to point me in the direction to financial freedom that Robert T. Kiyosaki was talking about, but NOTHING! I'll give it 2 stars for an interesting, albeit fictional, story.

Rating: 5 stars
Summary: Wealth is a Thought Process
Review: After reading several negative messages about this book, I have noticed one common theme: The book doesn't tell me how to do anything. Post Script: It's not a how-to book, and you cannot expect to be spoon-fed. The book takes shots at the traditional way of success and opens the reader up to the thought process of a wealthy man, Kiyosaki. The reason that he does not delve into the details of his deals is that every investor has their own motives, and that he does not focus on short term, transactional business. If you want some out-dated information, go pick up a how-to book 10 years after it was published...Kiyosaki's message helps the long term investor in search of residual, sustainable income. So if you're looking to buy low today, sell high tomorrow, go elsewhere.

Kiyosaki does a wonderful job of relaying his message that those who are wealthy have put themselves in that position by educating themselves, developing a Wealth Mentality and thinking for themselves, not waiting for the next book to tell them how to do it. Bottom line is this - find a rich dad, and he can help you with the how to part.

Rating: 2 stars
Summary: Oedipus Finance
Review: The slim pages of Robert Kiyosaki's Rich Dad, Poor Dad contain a surprise: three books for the price of one! The only problem is that none of these books is particularly good.

The first book lurking in Rich Dad, Poor Dad would have made a nice pamphlet, or about 20 powerpoint slides, describing the author's financial philosophy. Some Kiyosaki's sound bites are on target(Americans need more financial education; working for your self is empowering; it's a good idea to acquire assets that generate positive cash flow), some are provocative (a house should be considered a liability, not an asset), and some are downright loopy ("pay yourself first", even when you don't have enough to pay your bills, so that angry creditors make you work harder). Right or wrong, the basic ideas are all worth thinking about.

But you can't charge much for a pamphlet, so this thin layer of material is padded out to fill a second book, which strains to reach 195 pages of random transitions and endless repetition. It's a bit like being stuck next to a talkative but slightly drunk businessman for six hours on a plane. You don't need to worry about missing anything, because you're going to hear it again.

Just one example:

"In fact, if you really want to be confused, look up the words 'asset' and 'liability' in the dictionary. I know the definition may sound good to a trained accountant, but for the average person it makes no sense." (p. 59).

"If you want a lesson in confusion, simply look up the words 'asset' and 'liability' in the dictionary. Now it may make sense to trained accountants, but to the average perion, it may as well be written in Mandarin." (p. 61).

Yes, folks, that's a mere two pages apart. And it's hardly an aberration in this book. You have to wonder what co-author Sharon Lechter and the editor of this book did for their paychecks besides press "play" on the tape recorder.

The third book contained in Rich Dad, Poor Dad is the most interesting--and most disturbing. It's hard to tell how seriously to take the backstory behind the author's financial genius--one suspects a lot of embellishment to serve the clever title. Still, there is an alarming genuineness to Kiyosaki's repeated trashings of his real father, whom he alternately refers to as his "educated dad" or "poor dad". This fellow seems to have enjoyed a successful career as a teacher, government official and union leader (and supposedly acquired enough assets to be subject to the estate tax--not bad for a "poor" dad). Nevertheless, his son views him as a pathetic failure compared to his "rich dad", the entrepreneur-speculator father of his best friend. This vaguely drawn figure (perhaps based on a real person) gives Kiyosaki some helpful advice at a young age, but there's nothing to elevate him to "dad" status--other than Kiyosaki's all-too-real loathing of his own father. Kiyosaki's own raging insecurities (centered on his lack of educational attainments and paternal disapproval of his career path) take center stage in this Oedipal drama. This part of the book gave me the creeps.

Rating: 2 stars
Summary: Motivation (Hype?) but nothing else....
Review: This book opens your mind to the educational system flaws and other norms regarding career paths. This book also gets you excited about working for yourself and the "ownership society". But I'm afraid it does little else. It provides a lot of hype and tells no details of how to accomplish anything. Stories of making thousands of dollars off forclosures in only hours. Buying luxury cars after purchasing your first rental income property. This sounds more like an infomercial than learning material. If you read this book I recommend you immediately read The Millionaire Mind and The Unofficial Guide to Real Estate Investing. These two books will take your head out of the clouds and give you some good instruction on making money in real estate. Also stop buying books here and get them at your local library. All the new releases are there for free.

Rating: 1 stars
Summary: Waste of time...
Review: This book is the biggest sham I have ever read. It teaches you nothing, except that the author is an extremely egocentric person that enjoys showing off his financial successes (being them true or not, he might be very wealthy after publishing this book about nothing...). Do not waste your time like I did. The book is a succession of superficial advices that will probably lead you nowhere. I read until the last page trying to get something useful, but ultimately the author has nothing to teach you, except that he also has another 20 books, 5 games, 2 different courses that will make HIM richer and richer.


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