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Summary: The basis for all success
Review: Philosophy is the basis of all success and this book is big on philosophy, the right philosophy to become wealthy.What Kiyosaki says may not coincide with what you were taught by parents, teachers and typical mentors, but it is how the real wealthy think and it is how they became wealthy. Before you take advice from someone ask yourself this question; "Do they have what I want?" Kiyosaki has what I want: Acquisition of real wealth via integrity
Teaching others how to do the same
Financial success and freedom.
And a whole lot more. Care to join me? Then start by reading this book.
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Summary: the real meaning of money
Review: Rich dad poor dad, by Robert T. Kiyosaki with SHaron L. Lechter, thought me good lessons: 1)The Rich don't work for money, 2)why teach financial literacy? 3)mind your own business 4)the history of taxes and powers of corporations 5)The rich invent money and 6)work to learn-Don't work for money. These are really good lessons, becuase they teach you things that happen in the real world. Rich dad, Poor dad, explode the myth that you need to earn a high income to become rich, challenge the beliefe that you house is an asset, show parents why they can't rely on the school system to teach their kids about money, Define once and for all an asset ant liability and teach you what to teach your kids about money for their future financial succes.
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Summary: Is anyone actually succeeding by following this book?
Review: Okay, I'll admit it. I want to be financially successful. I'll admit another thing: given the choice between becoming wealthy quickly versus slowly, I'll take quickly. I also would like to be in top physical condition; however, just like becoming financially wealthy, achieving that goal takes knowledge, planning, discipline, dedication, and time. I read "Rich Dad Poor Dad" twice, looking for solid ideas that I could apply towards my financial goals. I found none. Kiyosaki advocates ideas that range from the patently obvious to the foolishly high-risk to the illegal. I was disappointed to learn that Kiyosaki later admitted that the "Rich Dad" character is a fictional character. I was even more disappointed to learn that Kiyosaki also made up most, if not all, of his financial success stories, with the noted exception of his selling his books, seminars and related products. I have spoken with a number of people who have read Kiyosaki's books, and not one of them has improved their financial condition based on Kiyosaki's ideas. Thankfully, I don't think anyone I know actually tried to imitate the strategies in this book. Do some checking on this -- no need to take my word on it. You will find many sad true accounts of people getting burned monetarily from trying to do what this and Kiyosaki's other books suggest. Question for all the 5-star reviewers bashing the 1 and 2-star reviewers: have any of you actually followed the ideas in this book and, if so, have you had any real, quantifiable success in doing so?
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Summary: the most overrated book in america
Review: This is the most over-rated book in America. Read it and show me ONE specific idea of how to make money. By the way, the rich dad is fictional.
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Summary: Rapiid Results in minimal time
Review: I have read a lot of the other financial books that teach frugality, cut up your credit cards and so on and lived by those principles and was able to amass some savings and investments.I also used to follow the normal way of investing which is to listen to your broker.Recently and against the advice of others, I started to apply the RDPD advice. I use my credit cards, I kept my day job while starting a business in my spare time. I am learning how to invest and am prepared when I go to financial people like brokers. I have also found a ton of tax deductions that I didn't know about before which my tax preparer didn't know because they go to school to fill out tax forms.I highly recommend RD/PD to help you get on the path to financial freedom.As for the 1 star bashers, there must be a reason why they repeatedly pst the same nonsense and unfortunately it has nothing to do with helping you. I wonder what their net worth is?
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Summary: Invaluable for the few who want to join the top 5%....
Review: According to the Social Security Dept., only 5 out of a 100 people will, at age 65 be financially independent. The remaining 95%, according to well researched information, will be dependend on friends, relatives, social security (if it is still around) or still be working. Interesting is that these statistics are not limited to low income earners but also include highly paid professionals. People we typically assume to be well off. Robert Kiyosaki hits a nerve with a lot of people. He goes against the norm. A lot of people want to think, "get good grades in school, go to college, get a good job, save your money and walla, you'llbe allright." The sad fact is that school teaches precious little about becoming successful. All of the courses we took, how successful have we become as result of those courses? Kiyosaki teaches to think differently. He teaches us what we were not taught in school, because those teachers didn't know either, otherwise they would be doing something besides teaching redundant, useless information. Kiyosaki teaches us how to invest for success. And this, I believe is where most of Kiyosaki's enemies come from. Why? Conflict of interest. Kiyosaki wants you to research investment information first and then go to a broker who is on your team. Convetional wisdom teaches you to go to a broker or financial planner and say; "Here you watch and invest my money, because I don't know how." Kiyosaki teaches us to become independent as entrepreneurs instead of dependent as employees. Your employers strongly disagree with this. They want you subservient, not free and God forbid doing even better than them! Kiyosaki's advice is not for everyone. It is only for those who want to be in the top 5%. Those who aspire to become entrepneneurs and investors and who want to control their own destiny instead of being controlled by unappreciative employers. Which group do you wish to be a part of?
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Summary: Invaluable for the few and Insubstantial for the masses
Review: I actually bought this book and read it twice, it's well written, for its intended audience. Kiyosaki is a opportunist, he wrote this book to make $ and show you the 'surface', but other than that, this book serves little value. It's all in the marketing. All the 5-star review givers, please stop bashing the bashers of this book. Kiyosaki himself bashes 'ordinary education' and those ppl who're looking forward to nothing but paychecks. It's a pity. Education is still the way to go. How could a person properly invest and manage financially if he lacks the basic eduacation of finance? for the masses, the answer is no. Yet he stresses 'opening mind' and embracing home business, excuse me but a high school dropout will stand little chance against a college graduate in the same case, generally speaking. The only valuable part of this book is how he emphasizes one to open his mind, rather than be locked into a loop. For the financially aware, it's common sense. For most people, just telling them this info is not going to get them anywhere, two nights sleep will bring them back on their regular track. For some people, however, it's just what they need to know. These people might be inspired to break out their cycles and read more informative books about investing, etc. This book is filled with 50% fiction, 40% garbage, 10% content. It will only truly inspire the very few, and it won't bring them far. But it serves its purpose well, to get u into the door, and buy more books of his, something that just might prove to be little more substantial. As a Finance major student in UW-Madison, I find this book both enlightening and disappointing in its lack of real content, and to me, it's 90% garbage and 10% common sense. Take my advice, buy some real business books of finance and investment, or even accounting. You'll learn so MUCH more.
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Summary: The Only Book I Have Given My Daughter
Review: Although I am very spiritual, over twenty years I have never given my daughter a book about spirituality nor, for that matter, about any subject. After having read "Rich Dad, Poor Dad", I realized that the one subject I never taught my children was about money; mostly because I was a living example of complete money ignorance. Suffice it to say that I immediately sent a copy to my otherwise-very-successful college daughter and have permanently appended a recommendation for this book to every email I send. Unless money causes you no concern whatsoever, you simply must read this book.
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Summary: One of the saddest books I've read
Review: I bought this book, despite the distain I felt for its title, in the hope of some financial guidance. I found the advice given sound but simplistic. Put what you earn into assets and limit your liabilities. Very sound advice, but as the author admits the hard part is knowing the difference between the two. While reading this book a sad hollow feeling began to grow in my gut and I realized this book was more of a guide to a shallow life without passion for truly meaningful things. It's even sadder to think that it's a best seller and someone might actually use this book as a guide to life.
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Summary: Please be careful with this book
Review: After listening to some of Kiyosaki's audio lectures (they're so darn popular you can download them for free), my first impression was 'this guy is a total quack'. He was talking about *not* living frugally. Why? Because "God is abundant... There's abundance all around us... God doesn't skimp on sunsets" and whatnot. That's poetic and we all love God and all, but give me a break! To Kiyosaki, everyone who earns a paycheck is a sucker. He goes on with anecdotes about getting rich quick, 100%+ returns, etc. which is very captivating. I suspect the people buying and praising this book are the same ones who buy the investing or home business "kits" they sell at 3am...
But, I gave it 2 stars - one more than the minimum because it does get people thinking about investing, interest rates, and so on, which is a good thing for many people. But, people believing everything he says like it's the Bible is going to cause a lot of people real harm. The tone of the book and his 'style' is that he's letting the layman in on a "big secret" about investing, real estate, and taxes. Consequently, people who never knew a thing about finance, economics, interest rates, loans, real estate, etc. read this book and think they're experts. Sorry, you're not...
Actually, I just thought it was a bad book at first and normally wouldn't write a review except that a nice person I met recently asked me if I'd read this book and started spouting off all of the Kiyosaki-isms to me. He was a real "disciple" of Kiyosaki and sounded like a Christian in his reciting of the dogma from his books. Now, I've had a very good grasp of basic economics and investing for a while having engineering degrees from two top schools (U.Va. and UC - Berkeley) and politely had to counter most of his ideas. Not suprisingly, after talking about his "minimum 24% return on real estate investments" he informed that he had just lost "a lot" of money on a very strange-sounding real estate deal... I asked if he'd read "the millionaire next door" which he hadn't, but had heard of. He dismissed it as "written by academics". Hah, academics! The people that do 'research' based on 'facts' and 'data' and can support them with 'statistics'. Who should listen to them?
My main point is that people who never had an interest in finance or investing and read only this book or only listen to Kiyosaki are going to be in trouble. It's a fairy tale. There's no such thing as a free lunch. Well, actually there is, and that's what he's selling. But, if you go for the free lunch you might end up paying for someone's else's free lunch. "millionaire next door" is boring, not glamourous or exciting, but is the cold truth. Always save money and invest it in a diverse portfolio. If you want spectacular gains, you're gambling, pure and simple. If you really love Kiyosaki, do yourself a favor and at least read some other materials by someone who isn't a "guru".
Just because it's a top-seller doesn't mean it's good advice, it just means a lot of people like to buy the book. People like fantasy, stories, excitement. People don't like boring, slow-moving, mundane stories which is the reality of smart investing.
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