Rating: 
Summary: Wealth is asset earned income!
Review: Rich Dad Son's, CD explains how to teach pre-teens, mental processes necessary to solve financial problems. You will learn how basic misunderstanding of what is an asset; can lead people down very different roads. We are talking about assets that earn income for you, instead of you working for assets that are really liabilities.You will earn how to communicate in terms used by the wealthy. A misunderstanding of what an asset is, is how many financial institutions make a living off clients. The difference between what the rich teach their kids about wealth, really boils down to the difference between how they define simple words like assets, wealth, and how they fund luxuries. Simplistically have pre-teens look at buying things as it relates to cash flow. It is very easy. Take a piece of paper. Draw a line down the middle. List income-producing assets on one side, liabilities on the other. An asset either earns income (i.e. increases in liquidation value) or it is a liability and does not. "Assets put cash in your pocket, liabilities take cash out of your pocket." No one can dispute that the rich buy "income-producing assets," the problem is the poor buy liabilities that they think are assets, which clearly do not earn anything, and may have no market value.
Wealth is measured as the number of days the income from your assets will sustain you. Financially Independence is when your monthly income from assets exceeds your monthly expenses. Rich Dads Son, teaches you how the rich can buy Luxury sports cars at 50% less than what the non-rich pay. 1. Save 25% by not being the first to drive it off the lot.
2. Save 30% by using after tax dollars
3. Save 100% on interest charges
4. Pay ancillary expenses with after tax income
5. The rich do not work for luxuries. The rich earn the funds first, and then buy. The poor buy first, then work for money. In summery students learn to measure wealth in asset earned income. They learn to look for opportunities to add to there income earning assets. They learn if they want luxuries, they should earn the funds first. -ooO-(GoldTrader)-Ooo-
Rating:
Summary: Rich Dad Poor Dad
Review: Rich Dad Poor Dad contains some practical ideas about building wealth. There certainly is a need for the principles of money management to be taught at home beginning at an early age. Some of the author's criticism of our educational system might be overcome if everyone took at least one college-level business course as part of their educational program. In addition, I do not know one member of the business faculty where I work who teaches students that guaranteed job security is an end result of education. Since this book was written before the stock market "correction", I am curious to know how the author fared with a lack of diversification in his stock portfolio.
Rating: 
Summary: Sure if you want to raise a future Enron or Worldcom exec...
Review: First off there is one decent piece of advice in this book, a bigger house is not a bigger investment, it's a bigger liability. Aside from that...
Kiyosaki's main point seem to be that of Gordon Gecko, "Greed is good." The rich dad must have been the Mr. Potter of his hometown. He starts by telling the boys "work for yourself, be your own boss" good advice, right? However he goes on to recommend hiring people on the basis of who will fear losing their jobs most. Of a longtime employee he says, "Mrs. Martin is like a mother to me." Then shows how he pays her just enough to keep her working in his store. Rich Dad brags about how he keeps his employees waiting for meetings outside his office, they'll wait as long as he wants because they fear losing their jobs. My favorite chapter is when Rich Dad tells the boys that society needs "teachers, doctors, mechanics... [and] police officers, firemen and soldiers." However he makes it quite clear that neither of them should pursue any of those paths. Those jobs are for other people's kids. The boys' first enterprise involves comic books. After promising the comics distributor they won't re-sell comics they get from him for free, they *rent* them, a-ha a loophole! Rich Dad also tells the kids that bill collectors are "bullies." Don't pay your debts until you're darn good and ready. Besides the questionable ethics related in this book, there is really only enough material here for a long article in Money magazine. The filler is long, meandering anecdotes and re-stating the same information, for example he uses the "doctors and policemen" paragraph at least twice as well as repeating the chestnut "if you want a lession in confusion look up the words 'asset' and 'liability' in the dictionary" over and... The kicker is Kiyosaki claims his whole motive is to educate the poor and middle class. He fears a "class struggle" as the rich get more and the poor get less. His advice only serves to drive the divisions wider.
Rating:
Summary: Some Good Info - but his Rich Dad was a jerk!
Review: This is a fun book to read. There is a lot of practical information and while most of it is common sense, it is presented in real life situations where it really jumps out at you. However, the way the Rich Dad carried on about wage earners (his own employees) being stupid was just abnoxious after a while. The idea that someone could actually enjoy their job is treated as unthinkable. The reality that someone who knows how to live within their means and who knows how to use the money they saved, could actually work a regular job that they enjoy and retire early and wealthy - not within this guy's paradym. Well I for one did and would not want to do it any other way. If the Poor Dad had any financial sense, he could have too while still being the teacher that he wanted to be. We don't all want to be rich jerks that look down on everyone else.
Rating: 
Summary: Poor Mom
Review: My son will be graduating from college soon. I bought this book for him as a graduation gift. I read a review a while back and thought it would be a good gift for a young man starting out. A young man who was raised by a "poor mom". I've have read the book my self and have been applying some of the knowledge with in to my own life. I think my son will enjoy it. It is surprisingly a fast read. I don't usually read books on "aquiring wealth". I'm more into books on spirituality. But as I said, it is in my opinion, a great read.
Rating:
Summary: Got an MBA and this still changed my view on how to make $
Review: I firmly believe in education. I've taken loans for my Bachelors and Masters degrees. I've lived overseas and thought I had it all figured out, except that I couldn't figure out how to live the way I wanted without having massive credit card debt. This book, and the next RichDadPoorDad CashFlowQuadrant book, gave me just the slight re-adjustment needed to see things clearer about how to live the life you want - time for family and travel. The formula: do your investing First, then, go live the life you want. START HERE then go figure out what to invest in.
Rating:
Summary: The BEST BOOK ever written in the HISTORY OF MAN!!!
Review: Never in the HISTORY OF MAN has an author of such grand and impeccable standing written such a magnificent work of such pure autobiographic splendour! Kiyosaki is a literary genius, a fiscal GIANT! And in this book he reveals ALL HIS SECRETS, so that YOU TOO CAN BE LIKE HIM!!! (shudder) I hope I don't reveal too much by saying that this book promises that just by changing the meaning of the word "asset" you can change your financial position. Nay, more than that, you can become a MILLIONAIRE!!! In fact, the work is so compelling than you feel rich JUST BY READING IT!!! Well, at least I did. As the author shows us by the TRUE ACCOUNT of his OWN LIFE, YOU DON'T NEED a single cent to make a million dollars in real estate! All you need are wealthy friends you can borrow a couple of thousand from! But seriously folks... It's a GOOD READ. That's all. Don't expect to get rich from READING A BOOK or PLAYING A GAME! Life just isn't like that. But it's nice to PRETEND sometimes. That's what this book is all about. It makes you FEEL like a million bucks (without a cent in your pocket.) Lots of people dislike this book. Primary, I think, because they take it a little too seriously. And as for the best book ever written in the History of Man, I meant the Lord of the Rings - Tolkien made a pretty bundle from those hobbits, didn't he? (No shares, bonds or real estate involved!) He just invoked the power of imagination. Ditto with Kiyasaki.
Rating:
Summary: "Cashflow 101" game
Review: During the last month I have played the Cashflow 101 game and found it to be the most educational game for adults and children alike. I would highly recommend it for anyone trying to get out of the rat race or for young people trying to learn how to handle their finances. It is a game more complex and diverse than monopoly.
Rating:
Summary: It's good, but that's about it.
Review: It's a good book and gets you thinking, but a lot of these reviews confirmed what came to my mind reading it about how he's so vague about things, his hinting toward insider trading. Maybe I'm the only one who noticed this, but doesn't he seem to have quite the vocabulary and education when asking and rephrasing what his rich dad was asking him when he was only nine years old?!?!?! Some of the things he's supposedly saying (and even recalling from nine years of age) is absurd. I'm only 27 and all I remember from being nine was the third grade and a couple of friends where I used to live. I couldn't tell you or recall one thing I ever said to anyone or what they said to me. It's too far fetched. I'm glad I'm finding that other stuff is being discovered that he made up, such as his multi-person rich dad and how vague he is when asked about this book. Thank you for the other reviews everyone!
Rating:
Summary: A Great Way to Have Some Philisophical Epiphanies
Review: I just finished reading "Rich Dad, Poor Dad" and I am very happy with the new views it has given me. As a college student, it's not too late to begin implementing this books lessons. If you read into the text and don't just listen to the simple messages, you can really pull a lot out of this book. I wish I had read it before I left for college... it is a good way to gain a new perspective on your education and life goals.
| 
