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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: 2 stars
Summary: Rich Dad Poor Dad
Review: Simple concept, hard to apply.Lack of depth

Rating: 4 stars
Summary: Yes, Misunderstanding of the book does give it a one rating.
Review: Readers, don't get me wrong, Rich Dad Poor Dad had me extremely skeptical before I read it. When I read it, however, I was extremely enlightend. Not because Kiyosaki told me exactly what to do, that wasn't the point of the book, but instead he gave me financial principles that contradict those given in today's educational institutions.

Is Kiyosaki outlandish for saying that school is unneeded? It depends on who you ask. I argue that most reviewers who scorned him for his comments are simply angry because that's the pathway they revere so highly. In fact, Kiyosaki never told readers not to get an education, however, he said that you shouldn't get a standard college education that merely prepares you to get a job. Kiyosaki endorses that the reader be educated "in school smarts, street smarts, and financially."

What readers need to be aware of is that he probably isn't rich as he says he is and that the character Rich Dad probably doesn't exist. By no means does that discredit his messages of principles.

The reader must take into consideration that Kiyosaki makes several allusions that indicates that he is an extremely educated man. Therefore, take the principles and use them as PRINCIPLES to achieving wealth, not the solution to achieving wealth because I believe that that would only make one's situation worse. If one reads Rich Dad Poor Dad and then immediately starts investing or incorporates himself then the reader misunderstood the books purpose and totally bought into a "Get Rich Quick" mentality that haunts the entire book. In short, take Kiyosaki's sound financial principles and expand into legitimate, non-commercialized forms of education.

Rating: 5 stars
Summary: A Tool for My Home-based Business
Review: This is a pretty powerful little book. This book provides the reader with a storehouse of material/information on how to have your money work for you instead of you always working for your money. Also, the principles taught in this book help the reader to understand the difference between reacting or responding to things based on our emotions (e.g. from fear, greed, etc.) and how to think first, then respond.

Another powerful feature of this book is it teaches the reader what assets REALLY are, which are not necessarily what we have been taught that they are. This book teaches how we should think about taxes, money, etc. In other words, it a great instructional tool on financial literacy. Financial literacy is simply not taught to us as we grow and this book helps to alleviate this "problem."

There is not enough that can be said about this book and its advice regarding the issues of money, emotions, investing, taxes, etc. The book is designed in such a way that it systematically takes the reader through 6 lessons on financial success.

I wish I had not waited so long to actually get this book and read it. In fact, I implement it in my home-based business.

Rating: 5 stars
Summary: Rich Dad; Poor Dad
Review: Rich Dad; Poor Dad is a book that I highly recommend. It shows two different type of menatality about money. It shows that being rich is all mental then progress. And being poor is about habitation of poor people that goes to their children from the parents.

Rating: 2 stars
Summary: Disappointing
Review: The title sucks one in - as the author himself indicates, that is by design. He is a self-professed best-selling, and not best-writing, author. This is evident. The book is written at a junior-high level intellect and composition style that becomes increasingly annoying. Thoughts and exact sentences are repeated frequently, and the result is a read much like the two-page advertisements you see in magazines geared toward get rich / lose weight etc. plans that implore you to send three payments of $19.95 to receive all of life's answers. The quit-working-for-the-man-and-be-your-own-boss preachings are merely repackaged here, and the numeorus diagrams are rediculous wastes of space.

That said, there are a few interesting tidbits of useful knowledge buried therein, e.g. buy real-estate cheap and re-sell for a profit. Set up a corporation to do so to minimize taxes. Wow...thanks for the advice. Such "lessons" could be better set forth in a bulleted article of several pages rather than this rambling work.

The author has made his point - good salesmanship results in sales (his book). His rich dad (a friend's father) would say that we critics are missing out on the fly-by-the-pants philosophy that he advocates, and simply don't understand it (like his biological poor dad). Perhaps that is the case. Or perhaps it is merely a nice daydream for educated, hard-working, and succesful people who wonder during their two-week annual vacations what it would be like never to return...

Rating: 3 stars
Summary: Is it really practical?
Review: The title of the book attracts me to read it. How can a child have two dads? It sounds interesting. Kiyosaki have two dads. One is his real dad but poor and the other is his friend's but rich. The poor one is highly educated while the rich one has poor education background. Kiyosaki chooses to learn from his rich dad and eventually becomes rich. It reflects that in reality, even if we study a lot, it is not necessary ensuring us to earn a lot of money while studying less does not mean that we are not able to earn a lot. So sometimes I wonder why I have to study so much. Yes, I agree with the "Rat Race". But if I do not study a lot or work for an employer in my whole life, I do not know what I can do. Invest? (Just as said in the book) Or start up my own business? I do not think I can be so LUCKY as Kiyosaki that he can have so many chances for him to make money. The main idea of this book is to build our own asset column and stay out of debt, which is repeated over and over again in the book. And it seems that it needs quite a lot of techniques and skills of financial investment. The idea seems good but is it really practical?

Rating: 3 stars
Summary: A good book for starters that will leave you wanting more
Review: For anyone who is looking to embark for the first time in the world of personal finance and investing, this is a good place to start. It is by no means a comprehensive guide on reaching financial success. Perhaps this is what the author had in mind, judging by the number of books that have followed under the "Rich Dad, Poor Dad" header. You will need to pick up a few more books if you really want to start the path to financial freedom on the right foot.
The central theme of this book is very intuitive: if you're working for someone else, there's a 99% chance you will not get rich. You may earn a six-figure salary and still, you probably won't get rich. The solutions he presents are straightforward and easy to implement. The key lessons can be summarized in a few bullet points:

- Start investing at an early age - note that I didn't use the word "saving". there is a big difference and Kiyosaki explains why
- Know the difference between an asset and a liability
- Acquire real assets that produce income on their own
- Know your taxes - learn why rich people don't pay them
- Invest first, buy later

Kiyosaki's method of describing the spending and saving patterns of the average person via flowcharts is quite intuitive and very easy to understand. Even the most financially shrewd person will admit that his approach is refreshing and original. His definition of an asset is very intuitive, arguing that your house and your car are not assets. Even though your house possesses some intrinsic value (the equity gained through appreciation and reduction of mortgage), it is not a real asset, as it does not produce income on its own. Although Kiyosaki teaches basic concepts that everyone needs to master if they want to get out of the financial black hole, he does not delve into the specifics of choosing the right investments or how to minimize taxes. As I said in the beginning of this review, this book will leave you thirsty for more and you will need to quench your thirst with a few more books.

One final note, Kiyosaki is well versed on the subject of real estate and you will note this throughout the book, but he spent little time on the subject of stocks and bonds, which is another important part of the equation. If you are looking for a book on this subject, try Peter Lynch's "One Up on Wall Street".

Rating: 2 stars
Summary: Lies, Damn Lies, and Kiyosaki
Review: Oh he's very good... very good at proposing very convincing and seemingly true ideas. After you read his book, you may start questioning why you bought your house. Why did I diversify my portfolio? Why did I spend all that time in school? I love it! There are two reasons that his ideas are so believable.

First, they are simple - too simple. This is why the book is written from the perspective of an adult talking to a child (Be prepared to suffer condescension with every page). He describes the world so a child can understand. This may be useful for a young child to begin to think about finances, but the understanding must grow and the model of the world must evolve to make smart financial decisions as an adult. I can see why this book is so appealing to the masses.

The second reason his ideas are believable is that he starts with a kernel of truth for every idea. Ultimately the kernel of truth that he uses in every argument is perverted.

If this is the start of your search for truth and are building a plan for the future, be sure to look at the other side of the argument. "Ordinary People, Extraordinary Wealth" by Edelman will give you that and for a bonus he will talk to you as if you are an adult.

It's worth a read to if you are out to understand the psychology of best-selling books, and to see why easy answers are so appealing. If you are looking for sound and proven financial advice, don't bother.

Rating: 4 stars
Summary: Thought-provoking book
Review: With this book, Mr. Kiyosaki has made an excellent case for financial literacy . His message is clear: Give yourself a financial education, make money work for you, exercise your financial brain. All praiseworthy points.

This book, however, is not a how-to book (the author himself admitted as such). You won't learn how to evaluate a rental property, develop an investment framework, or discover auctions opportunities. What you'll take away is perhaps a belief that you need to educate yourself financially.

I recommend this book highly.

Rating: 1 stars
Summary: Holy Moly! Quite possibly the worst book I've ever read.
Review: This book passes off boring stories of flipping property and investing in mutual funds as investment advice. I think his approach is shallow and borderline reckless. I am an entrepeneur on my 2nd business so I understand risk. Risk is calculated and based on knowledge. This book does a poor job of laying out a responsible way to deal with money.


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