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Summary: Great Motivational Book
Review: This book accomplished its objective of changing the way I think about making money. This book has certainly inspired me to look for new ways to make money. I like his concept of making more--money--while working less. As the title indicates, this book's only objective is to teach you to look at money from the other side, the rich side. Kiyosaki has motivated me to start exploring more ways to make the tax codes work to my advantage. I recommend this book to anyone who needs the motivation to get out of the "rat race" and get onto the "fast track" to become rich.
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Summary: A New Outlook
Review: Mike's father provided a new outlook on business and money for me. Much like Robert's father, I always conisedered school and education the key to success and business. Now, however, I realize that one must never be fearful of failure and must always take risks in order to achieve success. Mike's father was was a good representative of successful businessment in our world who know how to manipulate those around them to produce the greatest yield for themselves. Overall, I thought the book was extremely insightful and an instructive guide to the steps of success.
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Summary: Rich Dad, Poor Dad
Review: Robert T. Kiyosaki's Rich Dad, Poor Dad presents the differences between the ways the rich and the poor and middle class think. Growing up with two dads, his own educated dad, and his friends rich dad, he is able to compare the two groups mindsets and presents his reader with ways to approach money. He emphasizes the fact that today's normal education is not enough because it does not teach people enough about money, rather is teaches people how to get safe secure jobs. One of the main problems he suggests is the different classes understanding of assets and liabilities. He also explains that people need to take risks by investing in things such as stocks, mutual funds, and real estate in order to make money. The book presents ways that one should approach money and change their actions and thinking in order to be more successful in attaining money. The book is interesting but how much of it is realistic is probable debatable.
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Summary: My Poor Dad
Review: This was a really interesting book. I only started reading it for my economics class, but now i'm really glad I did it. Having a dad that isn't focused on finances and business I think this book really helped me to know that anyone can make money and be succesful. I thik its an easy book to read. It's a book that you can understand.
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Summary: How the rich become rich
Review: Rich Dad Poor Dad has been around long enough now so that everyone should know it's the true story of Robert Kiyosaki's 2 fathers; one rich, one poor and how Kiyosaki developed financial literacy. This book will tell you some things that you don't want to hear like a house is not an asset. That financial literacy is different from educational literacy. That your income is not your wealth. Investors are different from savers and so on. Easy to understand why some people fail to understand the concepts taught by Robert Kiyosaki. The real question is: How are doing financially? I mean really?
You can live in a big house, have 3 cars, a nice job and a big income, but if you are living on 125% of your income, you are still a poor person. It's cash flow that determines your wealth. If you spend all you make, plus some, you are in a negative cash flow. As Kiyosaki explains, "assets feed you, liabilites bleed you." Too many people have too many liabilities and too few assets.
Unfortunately, some people feel this is normal because everyone else does it as well. ENT! 401 (k) plans are savings plans according to Kiyosaki and nothing wrong with that as long as you understand that you have a savings plan. Never call these programs investments. Unfortunately, most people do. Investers get in and get out and understand the risk. Investors also make money whether the market goes up or goes down. Savers since March 2000 look at their 401 (k), mutual fund statements, brokerage accounts which they mispronounce "investments" and all they see is red. Typical "Poor Dad" mentality. Kiyosaki also enlightens on income vs expence ratio. The role that taxes plays on slowing wealth accumulation. "It's not what you make, it's what you keep" says Kiyosaki. Rich Dad Poor Dad teaches you to act like, be like and think like a Rich person instead of a poor person. 13 years ago was the first time I recieved training from a truly rich person. This guys net worth was in excess of 1/4 of a billion dollars. I had the gall to tell this guy that his advice was interesting but my concern was that it did not coincide with with I had been taught by parents, relatives and other family members (Poor Dad mentality). This man was kind, smiled and asked me politely and seriously; "How many of those people who taught you were rich?" Good question and I got it right away. The fact is, no one in my family was rich. There were sincere and meant well, but not rich. This guy was. I wanted wealth, not just security. Robert Kiyosaki is offering the same advice. If you want to be rich, listen to a rich person. Rich Dad Poor Dad is a excellent book to get you started on the road to wealth. I highly recommend it.
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Summary: Not for Harvard graduates
Review: This book is definitely not for Harvard graduates. Typical Harvard graduates are too busy updating their resumes and pounding the pavement trying to find a j-o-b just like the one they just got downsized from to benefit from a book like this.On the other hand, for people who are willing to be changed; are sick and tired of the rat race; tired of paying for somebodyelse's dreams; tired of having their boss determine how many sick days they deserve or how many vacation days they can take will enjoy and benefit from this book. I also recommend Loopholes of the Rich and The Business School for People who like helping people.Slams at network marketing people by 1 star reviewers are predictable and stale. Question 1 stars: How is your lifestyle? What kind of car do you drive? Where do you go to vacation? How much did you pay in taxes last year?The investment advice is also right on. Just talk to all of the people who are losing money following conventionable advice.A house is an asset? Yes, if you are the bank. If you want to turn a house into an asset, it's very simple, do what banks do and become a real estate investor.As for that website that keeps getting mentioned here, if it really was that good there would be no need to repeatedly mention it here would there?RDPD is a OUTSTANDING book. I highly recommend it.My motto is: I'll do today what others won't so I can do tommorrow what others can't.The recipe is simple; just follow Kiyosaki's advice.
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Summary: Re-affirmed many of my idealogies.
Review: This book made me realize that many of the ideas I had were not far-fetched. I have always firmly believed that anyone, anyone at all can not only be rich, but wealthy even. All it takes is the proper mindset, something that I believe this book can definitely do for you. Short and quick read, well worth the [money]. This is not a cheesy, self-help book or one of those get rich quick scam-type things! This is not a book that lectures the reader on what they do wrong, it is simply a book that opens your mind to the right way to live your life.
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Summary: A must read for those wanting to be financially free
Review: I'm not a CPA, don't have an MBA and am probably about as financially literate as the average person. Yet this book was simple enough for me to understand and quite worth the read. Robert Kiyosaki makes very valid points about our educational system, what it fails to teach us, and how it breeds the middle-class rat race of endless debt. The book doesn't have all the answers but I feel like I at least have a starting point for what I have to learn to become financially free. One last point - I actually listened to the Audio CD version of this book and it was simple enough to keep up with while commuting to and from my "rat race" job. Half way through I came back and ordered four more audio books from the "Rich Dad" series.
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Summary: Explore and optimize different options!
Review: The authors question conventional paths such as working for money and home owenership for the acquisition of net worth. This encourages you to consider and explore different options. Fear of risk is defined as a large obstacle. Most people are unskilled at handling risk (and rarely know how to make the most of risk) because they have been taught that it is best to be optimistic. When the price and/or probability of failure are high, optimism is a bad strategy. If you are interested in OPTIMIZING your financial success, you have to read "Optimal Thinking-How to Be Your best self" by Rosalene Glickman, Ph.D. She takes you past wishful thinking and shows you how to be your best and optimize risk in every situation, and how to take the most constructive path to reach your goals. Optimal Thinking is simple and you can put it into practice IMMEDIATELY to maximize your success. Glickman teaches you how to ask the best questions of yourself and others to obtain optimum results. I recommend both of these books. Keep them close and you'll have all you need.
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Summary: Very Short on Substance and Misleading in Parts
Review: I recently purchased this book and found it to be generally on point in terms of concepts but very very short on substance. The author appears to have built his fortune using real estate, yet he provides little in the way of information regarding how to analyze and evaluate potential real estate deals. He talks a lot about hanging around courthouses and lawyers offices to buy distressed real estate, but provides few details. (Perhaps he plans to go into these details in his next book---a way of keeping folks coming back to the trough and spending money). This book will no doubt inspire some, but is of little use for those already endowed with sufficient inspiration but need detailed practical information regarding viable opportunities to pursue. Moreover, as a CPA, I find he's overreaching in his assertion that corporations can be used to write off non deductible personal expenses. Although there may be ways of setting up non taxable fringes like car allowances and etc., most corporate taxpayers aren't writing off excessive amounts of personal expenses. Of course, if this sort of thing was okay, then hotel magnet Leona Helmsley would not have spent time in jail for writing off her expenditures for personal furniture and the like on her corporate tax returns. The information he offers about escaping taxation by operating corporately is just plain wrong and I'm surprised that the CPA that co authored the book didn't provide better advice in this area. There are better books out there even for inspiration. The Millionaire Next Door is much better if one is looking for inspiraton along with some general practical advice in how to manage one's money and escape the consumerism trap to free up dollars to invest.
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