Rating: 
Summary: For those who REALLY want to become wealthy!
Review: I generally don't write reviews, but this book is awesome!!!! Robert Kiyosaki does a great job of presenting the principles of wealth building in a clear and concise manner. This book presents PRINCIPLES and GUIDELINES to changing your way of thinking...something that is surprisingly scarce with all the advice that's floating around.If you're open minded and truly want to 'get ahead' and free yourself from the paycheck burden, then this is a MUST BUY! Once you understand the principles outlined here, then this book will be a priceless treasure! Those who are looking for a 'Step-by-Step' manual, this book is NOT for you. It is not a "this is the way I did it, so you should too" kind of book! So if that's what you're expecting...keep looking, 'cause you won't understand! And NO! I'm not getting paid to write this!!!!
Rating:
Summary: American Dream Is Still Alive
Review: ....Unless You're Working 9 to 5. I do agree with this statement. Robert Kiyosaki and Lechter gives us reminders of the benefits of credit and debt management, compound interest, and ways to make money work for us, instead of simply "working for money." This book can benefit those who are financially literate or educated, casually interested in making money, or for those who need information on money and finances in general. The author is a person who's accomplished what he set out to do, and his views are worth looking into. Like most successful people, he didn't "work in the traditional" paradigm to achieve his financial independence. Forget about the steel mill, corporation or government. Kiyosaki's independent thinking "outside the box" culminated in his voluntary retirement at the age of 47. If a person wants to do that they have to create, produce, and make something of their own. This book seems even more relevant today in 2002, after the recent scandals in certain corporations. Depleted Stock-option values and 401Ks have knocked a lot of folks down the financial "Joneses-ladder." One definition I'll paraphrase of wealth Kiyosaki noted is from Buckminster Fuller: Wealth is how long a person can live/support them self, after they quit, are fired, layed-off, or lose their job. How long could you last if you stopped working tomorrow? This book is an eye-opener but in the back of our minds we know it it shouldn't be. Many Americans may not like Kiyosaki's views, (which are based on his real-life experiences), because it's too late for most of them to turn back. I personally see these people quite often, and they come from all income brackets and ages. From blue-collar union members to corporate yuppies. I listen to baby-boomers wince at the prospect they're going to be hacking away at "the company" for a long-time to come after they finally decided to review the assets, liabilities, consumer-price-index and "golden tarnished year" pension fund and 401K. To Kiyosaki, owning a house is a liability.
He notes the same steps individuals and couples take to get caught in what he calls the "Rat Trap." Buy a house, go into massive debt, work for someone else to earn a paycheck, keep paying bills, then die. Work--mortgage--debt--bills--death. Sound like fun? He penned a great phrase: "the leaning tower of suburbia."
In debt, hoping not to get fired, layed-off, or down-sized. The author asserts his opinion on mortgaged "home ownership" because it influences behavior so much: more reluctant to take calculated risks in life, less willing to switch jobs and industries, or stand up for a bad situation that exists in the workplace. Once a person decides to take out a long-term loan on a house they're going to live in, almost all of the choices and opportunities they once had evaporate. Similar to a funnel: We can pour our realistic wants and goals into a "funnel of opportunity." These are things we actually have the ability to do in life. A funnel's mouth is wide, as are the opportunities and choices we have. When a house is "bought," the funnel of opportunity shrinks almost entirely to the choices and opportunity remaining for the homeowner: work, keep up with the Joneses, and try to stay on top of the bills. When a person or couples' home is their major asset (misnomer) it's not diversification either. Kiyosaki notes our educational institutions.
High schools and universities teach students to think "inside
of the box." The world has changed tremendously in the last decade alone, and one's ability to prosper may not be entirely what they know, but their ability to adapt and learn quickly in this ever changing economy. Did anyone predict the Dot.com boom 5 years before it happened? No, but a lot of people got into it. The author believes that it's better to know "a little about a lot of things," than to know "a lot about one particular thing." In his view, "specialization" can be limiting in today's economy, and we need to "diversify" knowledge base and skills ourselves. He notes we work for 3 institutions when we don't work for
ourselves: 1. We work for our employer or the
share-holders. We work to help them get wealthy, and secure their retirement. We help boost their share holder earnings when massive layoffs occur. But we are afraid of being let go, fired, or layed off by these same people. Doesn't sound like a person in this situation is in control of their life does it? Unfortunately it's true for 95% of the population. 2. We work for the government. We pay taxes throughout our
life, and even in death. Where does our money go? None of us really know. 3. We work for banking mortgage companies.
paying off the long-term mortgage debt. To most Americans though--they've invested too much
money, time, and emotional input into their current lifestyle and are too far along to change it. For some it will offer hope, to others denial, or futility.
Rating: 
Summary: In "Rich Dad's" world, a conscience is a liability.
Review: Sigh. Yet another "how to become a millionaire" book that extols anti-intellectualism (The author's "poor dad" is a mere *teacher*, and the author's constant equating of self-worth with financial wealth as opposed to education or intelligence is palpable through the book), and leaves an unpleasant aftertaste regarding the author's methods (he constantly brags about taking advantage of desperate people by buying their properties for pennies on the dollar). The author quotes Gordon "Greed Is Good" Gekko with a straight face, castigates his parents for trying to make him feel *guilty* about his greed, and pats himself on the back because he gives to his church (while no doubt fighting to keep unions away from his employees the way his "rich dad" did, then blaming his employees for not investing their shorted salaries). If Kiyosaki's preference was medical equipment instead of real estate, he'd probably advise us to hang around morgues and funeral parlors to cash in on all those unharvested donor organs lying around...
Rating:
Summary: Think outside of the box!
Review: Great book that helps you think outside of the box. More & more people need to read it to "enlighten" them about the "traditional" thinking of -go to school, get good grades, get a good job. This no longer exists in our society. Doctors may earn more money, but they are so greatly in debt from student loans & then malpractice insurance, you'd have to truly love being a doctor to stay being in practice. If you are living paycheck to paycheck, this book IS for you!
It can & will help if you really listen (read) what is being said in the book.
Rating: 
Summary: Good But Not Great
Review: Robert T. Kiyosaki is a multi-millionaire. After starting with relatively little and becoming a millionaire in his twenties only to lose it all and start all over becoming a millionaire for the second time in the eve of his forties, there are few that could surpass him in knowledge about generating wealth and holding onto it. In the right young hands, Rich Dad, Poor Dad is a brilliant book. It maps out a blueprint for becoming rich, maybe not Bill Gates rich, but creating enough wealth to live comfortably in this country and provide for one's family while doing a minimal amount of work, especially as the wealth builds. The young and non-cynical can benefit more from Kiyosaki's message more than anyone else, because Kiyosaki's message is so simple and accessible that only the truly optimistic will accept his words at face value and get to work. The cynical reader will call the book a crock and a get rich scheme for the author (even though Kiyosaki was already rich when he wrote his first book.) The older reader will recognize him/herself in the profiles of the middle class mentalities, but may have already developed too much inertia to overcome being content with working for the rest of their lives and if they are lucky being able to retire on a modest 401k after thirty or more years of working for someone else. Kiyosaki breaks down the misconceptions many people have about achieving wealth, all the while relaying his personal biography and his own personal realizations about money along the way. The fact that Kiyosaki talks about his mistakes and successes makes this book more honest than most, and the reader gets the impression that they have learned from standing over Kiyosaki's shoulder while he suffered the viccisitudes of his own financial education. One of the more subtle psychological lesson of Rich Dad, Poor Dad is Kiyosaki's treatment of the negative associations people have with the rich, namely avarice and materialism. Kiyosaki is probably right in asserting that greed and superficial materialism (especially mixed with fear) are more likely to DETER somone from ever building a sizeable net worth. I five Kiyosaki credit for valliantly trying to defeat the moral arguments that its wrong to spend one's time trying to amass wealth. He avoids venturing out into any religious arena and I think he may at least convince a few fence sitters to come to the dark side of accepting that they desire comfort and the liberation of wealth and the know-how to keep it. What really makes Rich Dad, Poor Dad worth reading is how comprehensive it is in covering multiple models for suceeding in wealth building and dealing with all the traps (corporate jobs, diversification in mutual funds, buying a primary residence as a tax break, etc.) that keep people from being financially free in such a short book. I doubt a person could read this book and seriously say after reading it, that they lack the creativity and intelligence to go out and become financial free. Of course this takes a little sacrifice and courage and unfortunaltely that is where this book falls flat to me. Perhaps Kiyosaki did not want to address consumerisim and American psychology.... A person not investing their time or their money in themselves can probaby never hope to be financially free and Kiyosaki does not have a solution for snapping the average American out of his/her middle/working class wage (make-it-spend-it-retire-at-60) mentality. Well Kiyosaki has one idea, we should get to our children while they are young and be careful that we at least don't infect them with our self defeating attitudes when it comes to money. There is no reason that a sixteen year old cannot have internalized all of the lessons in this book before he goes out and earns his first nickel (or tries to mint it as Kiyosaki did in his youth) Kiyosaki gets a little too altruistic at times especially when he believes that we should look to the education system in American to start teaching financial freedom. As long as you understand that corporations have the majority of the power in this country you will understand that they aren't going to support a government that doesn't turn out good little consumers. Regardless, this is a good book for any young person to get his/her eyes opened about being more self-aware when it comes to personal finances. Its probably a good book for anyone over 35 too,... Notice that I only gave it three stars. My reason is that as logical and convincing as this book is, I cannot say it is all that effective. I have known six people who have bought and read this book including myself. ...
Rating:
Summary: Rich Dad, Poor Dad
Review: A must for everyone. I bought each of my children a copy. I hope they read it. (You know how kids are about something their parent suggests.)
Rating:
Summary: Essential reading in a few places
Review: There is some very good advice in this book. Kiyosaki explains in very simple terms the difference between an asset and liability. He also advises that the readers keep liabilities low, start building assets as early as possible, and that an academic education is not part of becoming rich. The rest of the text is rather muddled and self-congratulatory. Having rubbished the idea of academic qualifications, at one point he congratulates himself for having paid for college himself. The book talks a lot about investment, but never answers what for me was a crucial question. If you don`t have anything to invest, what do you do? He also suggests changing jobs frequently, filling various roles in companies, to learn as much as possible. Fine, but few companies will keep hiring employees who do that, especially with few qualifications. Maybe the book is a little time-sensitive. Also note that if you disagree with the author at any point, you will find the book quite insulting. I gave the book 3 stars for its best parts.
Rating:
Summary: Financial Literacy
Review: Right on Robert Kiyosaki! Becoming financially literate is absolutely essential. This motivational book makes great (and easy) reading, but is short on details on "how to". I found a recent book with details on how to become more educated in the stock market - and how to preserve capital with a conservative strategy. The author's style is easy to understand and the recommended strategy has been working for me. Read: THE SHORT BOOK ON OPTIONS
Rating: 
Summary: A motivational speaker, not a financial advisor
Review: Rich Dad, Poor Dad got my juices flowing--that was almost 3-years ago. I've read other books on money and finance, which were recommended by professional and non-professional friends. Looking back on Mr. Kiyosaki's book, most of his ideas do have a small grain of truth, but his book is too filled with half-truths. For example, most millionaires are still relatively frugal even after they become wealthy (read the Millionaire Next Door). Another point is that most millionaires become wealthy by investing (time and money) into their business and/or by developing professional skills. Most people do NOT become millionaires from stocks, bonds, CD's, money market funds, real estate investments, etc. Those who do get rich off of investing are VERY rare. For most, investments are just holding tanks for the money from their businesses or careers to make them MORE wealthy, not INITIALLY wealthy. Other strategies make more sense and are a better guarantee of wealth or at least a comfortable lifestyle (read the books I recommend below for specifics). Mr. Kiyosaki is an extraordinarily gifted motivational speaker and salesperson; however, he lacks sound, useful financial knowledge. (Note: Who is his "rich dad"? Why is his name such a secret? Why can't anyone find his "rich dad"? I would be skeptical with this man's advice. He may want to increase his wealth (product sales) more than yours.) For sober views, I recommend Eric Tyson's Personal Finance for Dummies, Consumer Reports The Money Book, and for an easy fable with a powerful, simple lesson read Clason's The Richest Man in Bablyon. I would also recommend reading Carl Sagan's "The Fine Art of Baloney Detection" in his book The Demon-Haunted World: Science as a Candle in the Dark. Use his baloney detection system to critically evaluate books and theories within books--many popular financial advisors are full of baloney. Good Luck! Jason
Rating: 
Summary: New ideas about Money
Review: This is a book that the author, Robert, wanted to share the concepts and experiences how to manage money. The story is telling about the different views of points from two different Dads. One is called Rich Dad and the other is called Poor Dad. These two Dads have two different directions to explain about the money. In the childhood, the storyteller started to hear the concepts from his two Dads. Rich Dad taught him for investing money in order to succeed. On the other hand, Poor Dad taught him in the way for following the original life to succeed. Finally, the journey for finding the rich way was begun to start. According to the teaching from the Rich Dad, the storyteller understood that the rich wouldn¡¦t work for money. As we are the masters of the money, we need to know how to handle this as well. As starting to learn about money, storyteller had learnt that the money had different roles in our lives. Money could be the income or asset in the real situation .It depended on our decisions that we made at all. The main concept for this book is the changing roles of money from income to asset. This is not an easily concept that we understand. Actually, most people will work hard to earn so much money. However, they don¡¦t care the method of using this. They may use money to buy some irrelevant products such as big house. They may not afford to pay back the expenses for this. Finally, they will be become the slave of the money. Rich Dad taught us to invent money and turn the money into the asset. And don¡¦t work for this. In the last part of the book, Rich Dad mentioned some obstacles that we may face roadblocks. They are fear, cynicism, laziness, bad habits & arrogance. We need to handle these and ready to getting started. To my mind, I think this is really a good book as well. I never thought about these concepts before I read this book. Although I had learnt some basis investment knowledge in my studies, I don¡¦t have this mindset to think about money. There are some excellent points that I want to share in the following. Firstly, I think this is a good book for the youngsters. As I was the teenager, I always wasted my money to buy some useless products such as toys, TV games, etc. However, I just played these for a short period. I would like to buy so much. I felt sorry that I did not learn how to use the money. If youngsters can understand how to use money early, they will be good planning in the coming future. Secondly, it is really a good exploration for understanding about the concept of money. In the past, money was my master. I worked hard to gain the satisfaction for the useless things. After I had read the book, I tried to think about the new concepts. I knew that it was difficulty for me to change my mind at once. But I tried to use some ideas from the book. I started to use my money for investing some projects rather than buying the useless materials. This is really a good book that I strongly recommended. After you have read this, you may have some new ideas to generate about money.
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