Rich Dad, Poor Dad Abridged

Rating:
Summary: Not Enough Substance
Review: I read the book and left with the impression that I had read one chapter, over and over again. The principles Kiyosaki advocates are mostly good (one exception, I'll describe below), but he offers little or no real substance--no how-to, no details. He also tends to brag about his conquests a bit too much; makes me want to hear equal time for his failures (never mentioned).
The principle that I disagree with is to place properties into a corporation and then take your money out as "expenses". The problem is that the IRS is fully aware of this "trick" and nobody in his right mind would do such a thing and invoke the wrath of the "Revenooers". I also read "Income for Life from Real Estate" at about the same time and found it to be much more useful, not just a sales pitch for the author and his products. I would be interested in knowing what other readers who have read both books have to say.

Rating:
Summary: It's Money, Honey!
Review: Financial Literacy is a part never taught in schools! The Rich Dad emphasis on Pg.46, his point of view that 'The poor and the middle class work for money - The rich have money work for them' In the opening chapter, Sharon Lechter is challenged by her son when she tells him 'If you don't graduate from college, you won't get good job and if no good job, how would you plan to get rich' The boy argues that he looks for new answers - Bill Gates or Michael Jordan never went to school yet they are Rich! And so it clicks to Sharon and Mike to realize their changing jobs which would never make them scale Richer as they expected. Getting impressed with the Cash flow of Robert, the book finds way into thoughts and actions covering up Lessons :
1. The rich don't work for money.
2. Why Teach Financial Literacy?
3. Mind your own business?
4. History of Taxes and power of corporations
5. The rich invent money
6. Work to learn - Don't work for money

The educated Dad's personal financial statement determines the life of someone in the rat race, his expenses seem to always keep up with his income never allowing him to invest whereas the logic to a Rich Dad's financial statement speaks of assets generating more income and re-investing after covering the expenses. Result is the Richer get richer. It's thoughts that concerns 'Taking risks and greed, a common attitude' that scales for higher earnings. The Book is not a Business Lesson but a thoughtfully written wisdom to come out of the 'rat race' and plan to be rich with the changing new waves. Right Book for every parent and all who dream to be Rich!

Rating:
Summary: Decent advice, poorly written
Review: The thoughts are good, and worth hearing. The author constantly uses "Rich Dad" in each sentence where the advice or example is used, such as "I really learned from Rich Dad." After 3 chapters of hearing "Rich Dad" this and "Rich Dad" that instead of hearing the guy's name, I threw the book on the floor and haven't picked it back up.

Rating:
Summary: A MUST READ FOR EVERYONE!!!
Review: I couldn't put this book down! It changed the way I look at money forever and for the better. I have given this book to everyone I know. I've even gone on the read his other books all of which are equally good. In all honestly, the beginning is a bit slow, and some parts of it seem a bit repetitive, but that is only done to really make these ideas stick. This is a great book for beginners too, but when I give it as a gift I do balance it with Suze Orman. Rich Dad Poor Dad, has convinced me to put money a side each month to invest, to get a financial advisor and how to talk to him, it has opened my eyes to all the possibilities in real Estate, how to handle taxes and convinced me to never stop learning about finances and investing. After you read this book you have to read his next one too, Cash Flow Quadrant! This book has really changed my life, and has motivated me to the point that I can hardly sit still!!

Rating:
Summary: A New Way to Think About Money
Review: Robert T. Kiyosaki knocks one out of the park with this stellar book about how we think about money. While many of Mr. Kiyosaki's ideas have been around for a while (Ayn Rand is the first one to come to mind), this is the most readable and actionable format I have seen.

In short, the author takes us through the thoughts and actions of two men of influence in his early development. One (his father) is a well educated man who struggles to make and keep money. The second (his friends father) is a moderately educated man who understands money. As we watch the lessons from both father's we see ourselves and our potential.

I found that this book has a number of life applications. One word of caution: if you are looking for specific business advice, this book may not be for you. RDPD will provide a thoughtful argument about what your true future may be.

Rating:
Summary: Changed my ways on thinking about money
Review: I like this book because it changed my ways on thinking about money. Whether this guy made money or not doing the things he mentioned, is not really the point. Go to a business school, and you will find a ton of professors who have never been out in the real world doing the stuff that they are teaching, have you?

Yes, the advice is obvious, but so many "obvious" things are not taken seriously. THe only things I don't like about this book/author: The belittiling of his dad, and the school system, and that it is a little repetitive, although the author says it is the key to learning effectively.

I say that this book is intended for people not yet out of high school. If you come from a wealthy family, then you might not need this book.

Rating:
Summary: LIKE EATING COTTON CANDY WHILE STANDING ON A CLOUD
Review: This ... thing was a collosal waste of money and featured page after page of sheer ..., i.e. and rambling platitudes, that I don't think I divined a single piece of worthwhile information other than the fact that the author likes Johnny Holmes and Ginger Lynne movies, which is a weird thing for him to mention, but to each his own. I'm surprised he didn't have a forward by Ron Jeremy. Basically, the author could have put all of the meaty worthwhileness of the book onto one post-it note, and that is buy low sell high. Thank you. Goodbye...

Rating:
Summary: Read Dr. Stanley instead
Review: This book is almost an entire contrast to the MUCH BETTER BOOK The Millionaire Next Door by Tom Stanley. How on earth can Mr. Kiyosaki imply that people should wait to buy a house until they can pay cash?? Who can actually do this? Also, he implies that a college education is not important in order to achieve wealth. Does he know that Dr. Stanley has done the research and has shown that less than 25% of all millionaires in the U.S. do not have 4 year degrees? The only reason I didn't give this book 1 star is because I agreed with him on the importance of cashflow from investments. Stick to Stanley, he has actually done the research.

Rating:
Summary: Defending poor father
Review: Hello, I just want to clarify some misconceptions made within the book concerning the author's poor father. First, one fact the author does not mention that he mentioned in a previous book that he wrote, was that he lost his dad's retirement money in a business venture that had failed many years before this book was even written. The reason why his father was broke when he reached retirement age was because he let his son use his money and his son had lost it all.
Secondly, his poor father was an incredibly brilliant and smart man, but I don't think his father was motivated as much by money as the author's rich father. The author's poor father was an educator who decided early on to dedicate his life towards educating people. For example, most priests die poor and penniless only because they were not focused so much on making money as they were on dedicating their lives to God. I am sure if the poor dad was focused on making money he too would have been incredibly rich probably even more so than the rich father since he was probably just as disciplined and even smarter.

But, I would like to say thank you to the poor father for his dedication to the bettermnent of education. I am actually impressed that he would dedicate his life to promoting and improving the knowledge in today's educational system. That to me is the ultimate in public service and should be commended.

Rating:
Summary: the future: good finances and a large cup of coffee
Review: Robert Kiyosaki explores the influences he recieved from his two "dads": his father, who is well educated, but financially unstable, and his best friend's dad, who dropped out of school in eighth grade, but is now a millionaire. His main theme was showing how to "make your money work hard for you instead of working hard for your money." This book contains valuable lessons in investing, and is easy to understand for someone, like me, who doesn't know much about it. However, Kiyosaki starts repeating himself and becomes dull as the book progresses. Unless this subject really interests you, the book becomes boring.