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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!

Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!

List Price: $16.95
Your Price: $11.53
Product Info Reviews

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Rating: 3 stars
Summary: Good on style, short on substance
Review: This is the first review I've written on Amazon. The reason I feel compelled to write is that about half-way through this book, the author discusses buying a home out of foreclosure, quickly reselling it for triple the price and then quickly making $190,000 in the Phoenix real estate market in the "early 90's." Two points: 1) the transaction described is nothing more than a get-rich-quick type opportunity (not available on daily basis to the average Joe) whereas the author, throughout the book, admonishes that his book is not of the get-rich-quick nature; and 2) more disturbing is that this book was written in 97/98 time frame; the reference period for this transaction is the "early 90's" and the author HAS TO BORROW $2,000 for leverage for this deal. Why would a multi-millionaire need to borrow $2,000? While the overall message of the book is good, that just cripled the author's credibility is my opinion.

I will quickly summarize the book's message: buy real estate and/or other income producing items in order to generate cash flow in addition to that of your salary.

Rating: 5 stars
Summary: I loved it
Review: A great book with lots of sound practical advice! I've been very lucky over the years, by that I mean that I've had the opportunity to explore being an entrepreneur. I started when I was 14, a national magazine on a small scale and what I learned from that I would later articulate in other projects for publishing and even now on Amazon. I went to the Rich Dad seminar in New York this past November. I expected there to be an exhaustive push to purchase the various products available through his company but instead it was a full on lessons in business. We were actually given workbooks and situations culled from the audience to look at how systems work and their business potential.

I will tell you what all of this has helped to congeal in my head. One, money does not exist. Now this may seem to be contradictory to the entire concept of what Kiyosaki's books seem to extort on the surface but it doesn't. Again this is a radical concept, but I think that after a certain number, money is simply a concept. The majority of people think of working from paycheck to paycheck and what can be done with that money (after taxes usually 50% of one's annual number salary), unless you make a staggering amount you can't get ahead.
What I think the RDPD series gives one the insight to do is recognize all of the systems you're in. First what your money is, doing a spreadsheet on yourself and your worth, figuring out your goals and so forth and then the legal areas that affect your money. Most people know how much they make weekly, what that number should be annually but we rarely keep track of WHY those numbers are affected as they are. The difference between the rich and the poor is that the rich understand the power of their tax contributions and how much they absolutely have to make and how much they don't.

Rich people also think about money for sport not only for survival. Here's a mental game I've learned to play: I imagine what businesses I would build in a neighborhood I'm in, what I can see that would work, what wouldn't, etc..---cost analysis evaluation of places. I also regualrly look at Lotto prizes and figure out exactly how much that money is----10 million after taxes, withholding= 4 or 5 million really isn't that much.

This is where it becomes interesting and the book delves into this: How to make money make more money?
We all assume that getting a job is the easiest way to make money and then we assume that a business is so difficult to manage that we don't have the ability to do so. And yet amazingly, I started my first business when I was 7 selling papers, I would buy Sunday papers for 50 cents and sell them for 75 cents because I delievered the Sunday paper early in the winter.

Most people want answers. Answers the way your boss tells you to sit there, do this this way, deliver it by this time and then go home. Thats what people miss in this book----being told what to do. But ultimately they want to be TOLD what to do, become rich and then they will have the freedom to be "free to do whatever they want". Being free is everyone's greatest desire and fear. We have become a society that values conformity over creativity.
People want to read this book and be told, put 5 dollars in a red box for ten years and you'll be a millionaire. Do this the right way and your life will be perfect. This isn't the way to be successful. There are ways of educatingone's self----first books like this. I recommend making a study of the entire Rich Dad Series. You must make a study of first money, then yourself, then what to do with both.
I further recommend Tony Robbins Personal Power, Getting the Edge, Awaken The Giant because you must articulate what you want in the Universe. What if money is similar to the concept of the Matrix? What if the difference between me and John D. Rockefeller is a Universal expression of my potential in material manifestation? Visulaization, understanding what money is, how to use it, how to grow, what real estate is, learning to think.
I think I will end this lifetime as affluent. Why? because not only have I maintained studying these kinds of books but because my video "games" are HSX.com, Entrepreneur PC game. I think that Kiyosaki SHOULDN"T answer questions such as numbers of what to do or how to do because life isn't about hand holding in the concept that people want it to be and honestly every person is different in terms of commitment level and ability. Did Obi Wan teach Luke how to transcend death or lift an X Wing fighter the first time? No.
You have to understand business, law, taxes. Really considering my investment future, what to do with money I may receive NEXT year in my tax returns, looking at my 401k plans and realizing that I could invest the money better, avoiding mutual funds and then designing an exit strategy for invested money---a concept pushed from the get go in RDPD----Enter Strategies, How Much You Need For the Lifestyle You Want and Exit Strategies.
Thinking ahead.

Rating: 5 stars
Summary: So Much Truth in So Few Pages
Review: It is interesting when one considers the curriculum and goals of the United States education system. What are our teachers hoping to prepare us for? We memorize hundreds of formulas, dates, and political figures in preparation for what? Obviously to make us more cognizant of the world around us and stimulate our minds is the main goal. But we are never really taught the importance of managing our money when we begin to apply the knowledge we learn. Robert Kiyosaki acknowledges this fact in his very pragmatic, new-age thinking book "Rich Dad Poor Dad." Kiyosaki had a father who made enough money just to support his family while Kiyosaki had a friend with a father who knew how to manage his money. Perhaps Kiyosaki's most perceptive observation is that the poor work for money while the rich have money work for them. It is impossible to get rich simply off a 9-5 job no matter how often you work. Kiyosaki provides his proven secrets to financial security and an early retirement. Everyone should make time to read this book an inherit the wisdom of this man and his lifetime experiences. It will provide one with a valuable perspective of the way money can work for us constantly instead of us living paycheck to paycheck.

Rating: 5 stars
Summary: An Idoit's Guide to a Financial Future
Review: I found this book to be a very useful guide to becoming financially successful in life. As I am in college, I now know what steps I can take to avoid the "rat race" described by Robert Kiyosaki in this book. I was one of those who thought that working hard and saving would provide me with financial freedom, but now I see just how skewed that perception is. Instead of saving money in a bank, I should be investing it so that my money works for me. I hadn't thought of these things before, but you can bet I am now!

Rating: 5 stars
Summary: A Book That Contain Many Simple Tips We Often Condone
Review: It's a great read for all those who would like to increase their assets without sacrificing an arm and a leg. Kiyosaki presents his ideas with simple examples and an emphasis through charts/pictures. The charts really simplify things. Although Kiyosaki makes many of his experiences sound easy, it'll probably take some work and good timing for them to be attainable. I liked the "two dad" idea. It presented two opposite views and showed that many things in life can't be taught by a teacher and learned through a book. At times, the point kiyosaki tries to make can get really repetitive and agressive. Overall, it's a great book, if you want some advice on how to divide your paycheck better and get out of "the rat race." FIVE STARS!

Rating: 5 stars
Summary: A MUST HAVE FOR TODAY'S YOUTH
Review: Reading this book will give you the understanding you need to be successful in life. I was already familiar with most of his ideas. This book should be given in college. I myself, plan to be a millionaire as well. My company will be going public in about 5 years, plus I will building my brand image. I am very happy person at age28, even though right now I am broke. But being broke is temporary, right? I was rich before (when I was age24), and I will be rich again! So what are you planning to do?

Rating: 5 stars
Summary: made me think about how I use money
Review: This is a great book. It really made me think about how I use money. This book has great information for anyone, but would also be very useful for the entrepreneur who is attempting to learn how to use his/her money to successfully build his/her business. Definitely recommend.

Rating: 4 stars
Summary: Entertaining and informative
Review: This is a very enjoyable read. I realize that most people will read it to learn how to become more financially independent, but it's also an entertaining memoir in its own right. The author had a "rich dad" and a "poor dad", the rich one being the father of his childhood buddy, and the poor one being his biological father. The rich dad was a highly successful businessman who mentored the author about the road to gaining wealth, whereas the poor dad was an educational administrator who never gained wealth himself. The author received conflicting advice from these two dads, and in the end he mainly chose to listen to his rich dad, and supposedly this ended up making him very wealthy. While this book won't tell you everything you need to know about building wealth, it may be a good place to start. I enjoyed it a lot. Avery Z. Conner, author of "Fevers of the Mind".

Rating: 3 stars
Summary: Kiyosaki's advice only applicable to some
Review: Kiyosaki offers some wonderful advice, and illustrates it fairly well using asset and liabilities T-charts. However, his "get rich quick" and "escape the rat pack" advice is nowhere near applicable to the general population. His guidelines are useful for the rich - who want to get richer. He outlines lucrative business ideas well - though taking an excessive amount of time to get to his points, and is quite repetitive. Kiyosaki offers some interesting business and investing tips - but just takes too long to get to them. However, these ideas are pertinent to the wealthy and upper-middle classes - individuals that are capable of investing large sums of money in new stock options and real estate - who are looking to gain some additional capital.

Rating: 2 stars
Summary: A good story, but not an instructional book.
Review: I'd have given it three stars if it had more substance, but, for a purported bestselling financial guide, this book is really just a story about Mr. Kiyosaki growing up. I could easily summarize the useful tidbits of information in this review space but that wouldn't be right. I suspect that the book is more of an advertisement for the Cashflow games. But, to be fair, he does present an interesting perspective on the relationship of Income/Expenses/Assets/Liabilities. Not anything earth-shattering, though. If you've already read any other financial guide, economics textbook, stock or mutual fund prospectus, or can balance your own checkbook this book isn't going to teach you anything new.


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