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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: 1 stars
Summary: The guy's a swine. But he's better than me cause he's RICH.
Review: There is some common-sense stuff in here about investing, that's discussed more thoroughly (and more compassionately) in other finance books like Suze Ormon's work. (Unlike Kiyosaki, Ormon's motto is "People first, then money.") Otherwise, this book is a catalog of everything wrong with unfettered capitalism -- the author's contempt for his real father (for the crime of not being wealthy) and his unqualified admiration for his union-hating, employee-stiffing, tax-evading "rich dad" drips off the page at every opportunity. It's scary to read this book and feel RELIEVED that you don't have what it takes to become a millionaire the way this guy did. The casual way he discusses how to exploit other people's personal tragedies to get bargain-rate real estate is chilling. (I'm surprised Kiyosaki didn't list a conscience and compassion in his Liabilities list.)

Someone a lot wiser than Kiyosaki once asked what a man gained if he acquired the whole world but lost his soul in the process. This book is a How-To for both those objectives.

Rating: 3 stars
Summary: Very interesting and stimulating, but NOT an investment manu
Review: I was very stimulated by this book because it put money in a different perspective. It illuminated some of the feelings that I already have and know deep inside about how the world economy works and can work to your advantage.
It is not incredibly practical, however, and its examples aren't ones to follow as much as they are meant to inspire people to the possibility of creating passive income...
Basically, this book is not an academic or scholarly text by any means, and don't expect it's points to be filled with empirical research statistics. On the other hand, however, I believe that there are some points in the book that we all would be better off to learn or remember, especially those who desire to rise above the current struggle for financial survival.
Kiyosaki is blunt, money-focused and often seems to ignore the negative repercussions that some financial endeavors have on other people (read "Fast Food Nation" to hear about the unethical practices of Ray Kroc's Mcdonald's, whom Kiyosaki lauds), but if one can combine business ethics with some of the inspiring ideas in "Rich Dad, Poor Dad" then I believe that person will walk away a happier and more successful person.

Rating: 2 stars
Summary: 20% meat, 80% fat
Review: Some important concepts are covered. However, the use of the rich dad as an irrelevant and clumsy plot device adds nothing more than relentless and annoying filler. The meat of this book has value, but could have been distilled into a 20 page introductory essay, (no depth is ever achieved). I happen to believe that the author is correct in his beliefs, so if you like your business and economics theory converted into 3rd grade light reading at the expense of 130 extra pages of trivial soap opera fluff, go for it!

Rating: 4 stars
Summary: What is that dollar to you?
Review: I came across this book 2 days after I had sold my house, since I had realized it really was a liability in tough times, not an asset, and read it within 2 days after that again.

Mr. Kiyosaki has some good, common-sense advice on how to manage your personal finances; he weighs opposing common points of view - personalized through his two dads - and talks about the consequences. Interesting reading all of it, not the least because we get his two dads as figures we can peg the viewpoints onto.

If I should sum up his advice, it is that financial success has nothing to do with how much money you start with; rather, it's whether you have the right mindset. When you see a dollar, what do you see in your mind's eye?

His suggested mindset for success is that of an investor, not stopping at "I can't" but rather asking "How can I?", looking at all money matters through the eyes of an investor. It makes sense: If you start a company, would that company buy a car and a fur coat first, or would it reinvest in itself until a very affordable piece of its cash flow sufficed for the car and the coat?

He also has some very interesting viewpoints on learning which I agree with. The current school system was designed in Germany by Bismarck and his bureaucrats to make good ants - workers and soldiers - rather than being fit for people who want to make a living in our reasonably free society. It's no coincidence that the percentage of entrepreneurs actually go down with years of education rather than up. I say this with defiance, though, as I am a PhD who intend to go against the stream.

On the downside, I think the book is poorly structured. As he himself says, he is a best-selling writer and not a best-writing one. There are repetitions, fragmentation, and I as a reader did not get a good feel of sectioning of knowledge. From someone appreciating intelligence and learning the way Kiyosaki does, I would have expected a better structured presentation.

Rating: 5 stars
Summary: Must read for the average American
Review: It's been drilled into our heads our entire lives... "Work hard, get a good paying job and retire at 65." I have often asked myself (and sometimes others) why I should have to work for 45 - 50 years, giving someone else the best years of my life? The answer is always the same... "How will you live/eat/pay for your kids college without a job?" Even asking such a question seems to call for ridicule. Sometimes I just get empty stares as if I'm outside reality. I watch these same people stuggling to pay their bills, "buying" new cars every 2 years, "owning" the latest and greatest gadgets and gizmos, putting vacations on their credit cards, making well over 6-figures; i.e. "enjoying life", all the while increasing their bad debt and enslaving themselves and their families. This book plus an open mind and action is a way out. It is not a "how-to" book, rather it is a basic philosophical examination of what money is, our attitudes towards it, why we entrap ourselves in bad debt, and how to use money and good debt to our advantage.

As for the naysayers - I can only say this. I am the sole income provider in my family of 8 children (and my wife). I make under 50k per year (at my job), and I have made much less up until just a couple of years ago working in retail establishments. I have no college education and I live in a state where the cost of living is very high. I have made deals in this past six months where I have made at least $60k (liquid - cash), and the potential is there for much more. (God willing) I will be retired in 5 years, before the age of 40, largely due to following the principles outlined in this book.

Liberty can be achieved by virtually anyone. I wish I had read this book in high school (I would have actually learned something there). I cannot recommend it enough. Thank you Mr. Kiyosaki.

Rating: 4 stars
Summary: Giving A Different Perspective
Review: Before reading Rich Dad Poor Dad, my perspective on becoming successful and essentially being rich was just the opposite of what Robert Kiyosaki teaches in his book. The book gives simple and straightforward advice on how to rethink and view money and success. Kiyosaki tries to keep his ideas and perceptions about money understandable. I didn't think the book was boring at all; however, sometimes Kiyosaki became repetitive and digressed from the subject. Overall, I think I have gained a better and bigger sense of how to view money in the future. Like many of his other reviewers, I think this book is a must read, not necessarily for it's story, but for it's lessons on how to become a smarter thinker in money and business. Kiyosaki truly makes his readers think and re-evaluate their preconceptions about how to attain money. As Kiyosaki mentions, higher education doesn't always necessarily associate with more money. It is a person's ambition, passion, motivation, creativity, and insights that help him/her obtain wealth. Kiyosaki's example of his rich dad and poor dad proves this very point.

Rating: 2 stars
Summary: Could be more practical
Review: This is a book about financial knowledge. Kiyosaki tries to explain, in simple terms what he has learnt about accumulating wealth. The general thrust of the book is put your money into assets (anything that makes you money) and try to limit your liabilities (anything that drains money from your account).

I like the book because it is concise, easy to read and easy to understand. In theory the ideas presented are very sound. However, the book falls over by failing to provide practical examples of how to apply the knowledge. Correction, the book does provide specific examples of what the author himself has done to accumulate wealth. Unfortunately, many of the examples rely on various loopholes in United States taxation law and being from Australia, the examples were not applicable to my situation.

My main problem with the book is that it says "Put all your money into things that will make you money" and leaves it at that. It gives general examples such as shares and real estate but does not delve into something more specific that is broadly applicable to most readers.

I do wholeheartedly agree with some of the basic principles in the book such as "A good education and a good job is no longer enough". For this my rating is elevated to three stars.

Update - here's another interesting 'review' of the book:...

Update 2 - I couldn't post the actual link so here are some examples of gross factual inaccuracies in this book

Kiyosaki:

A corporation can do so many things that an individual cannot. Like pay for expenses before it pays taxes.

Truth:

Both corporations and sole proprietors pay expenses before they pay taxes. Sole proprietors pay taxes only on the net income of their businesses, which means after expenses.

Kiyosaki:

Says friend did a tax-free exchange from a sole-proprietorship rental house to a mini-storage limited partnership.

That is explicitly prohibited by Internal Revenue Code Section 1031(a)(2)(B,C,D). Errors like this cause me to marvel at the fact that Kiyosaki's co-author is a CPA.

Kiyosaki:

Simple math and common sense is [sic] all that is needed to do well financially.

Truth:

The world is full of non-wealthy people who can do simple math and have common sense. Many additional qualities are needed to succeed in business.

After some further reflection I can only revise my rating to two stars.

Rating: 4 stars
Summary: DON'T JUDGE A BOOK BY ITS COVER
Review: Robert T. Kiyosaki is a person who many may call the millionaire teacher. If you have read the book, Rich Dad Poor Dad you will understand why. Kiyosaki says "The main reason people struggle financially is because they spent years in school but learned nothing about money. The result is, people learn to work for money ... but never learn to have money work for them." The last sentence in this quote is what Kiyosaki heavily influences in the book illustrated above because he believes that this is the first step in becoming rich. I agree with Kiyosaki to a certain extent but education in my book is the first step in becoming rich because you have to be well educated in order to make such decisions. Kiyosaki does not promise the reader solutions to their financial tribulations; however he provides the reader with ideas that will help him or her succeed.

Rating: 3 stars
Summary: rich dad poor dad
Review: Rich Dad Poor Dad has its good points and bad points. Robert Kiyosaki has amazing insights pertaining to the world of money and if followed, you may become a wealthy man/woman. Although he has a chapter to guide how one might put these "philosophies" into action, there is not adequate information on how to REALLY get started. For the most part, these guide points of Mr. Kiyosaki's are for the people that already have a substancial amount of money. It would be very hard to practice these techniques when you are already in a "trap." Also, it seems like Mr. Kiyosaki is trying to tell the reader that life is about money and he implies that one is not successful without money. It seems as if the underlying message of this book is to "live for money" and I disagree.

Rating: 3 stars
Summary: People who think like my mom should read it
Review: My mom believes in going to school, and getting a good job is the only way to live life, the complete opposite of what Robert T. Kiyosaki's point was. I also agree with him, but I just think that the book wasn't all that pleasnt to read. I mean it wasn't all that bad, but many things were repetitive. He doesn't fully explain in depth the points he is trying to convey. I still don't know the difference between an asset and a liability. Most of the things he was talking about wasn't really catching my eye, only becaue the subject of finances isn't all that interesting to me. But overall, I think that people who believe that in life, one needs to work for money, might change their views after reading Rich Dad Poor Dad.


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