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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: 2 stars
Summary: A Waste of Paper
Review: This book will not make you rich. This guy made a bunch of money in real estate by buying properties that increased in value, but he hints that many of those opportunities are gone or difficult to find. He says that you should own a business instead of working for someone else. This is good advice, but not worth buying the book. He says that you should not borrow heavily (home, auto, etc) since you're throwing money away. Again, good advice, but not worth buying the book. Beyond these, the book doesn't say much. It's a waste of paper, with a catchy title.

Rating: 3 stars
Summary: Rich Author, Poor Author.
Review: Clearly, Robert Kiyosaki has struck a goldmine with his "Rich Dad" series of personal finance books. Millions buy them in the hope that they will learn something useful about acquiring (sp)wealth. To that end, I think that "Rich Dad Poor Dad" is only partly successful.

Kiyosaki begins with the assumption that most people are financially ignorant. Therefore, the vast majority of the population produce children without the financial know-how to succeed in life. On this point the author is dead-on. In my family, money was simply not talked about. In the families of my Israeli friends, however, money and business are the primary topics of discussion at the dinner table and just about everywhere else. And these Israeli friends of mine are all well-off, owning businesses and real estate--none of them came to the U.S. with a nickel in their pockets. So, yes, it's true, all of us need to develop a certain mindset about money and success in order to make it to the top financially. Moreover, we need to do more to teach our children these principles as well.

Where Kiyosaki falters in not in the "what" but in the "how". All through the book he is "begging the question". His reasoning goes something like this:

If you want to be rich, start your own company, buy and sell real estate, and invest in good stocks.

This is akin to telling someone that if they want to be a world-class athelete to "win the olympics, the heavyweight belt, and the world series." That's great, but how? And you will be asking the same questions as you read "Rich Dad".

I can personally realate to much of the philosophy in "Rich Dad" as I was a high-school drop-out with a disdain for working for someone else. I started my own company at 24 and am still making my own living at 30. Far from rich, I would work for myself for minimum wage before working for someone else for $50,000 a year. The point of my relating all of this is that I agree with Kiyosaki's main thesis: most people have what I call a "job mentality" and need to snap out of it if they are ever to be successful. J. Paul Getty said that the only way for a young man to be rich was in a business of his own. He was right.

Overall, Kiyosaki is a relatively poor author--thus the three stars. He meanders and belabors his main points to absurdity. It's hard to beleive some of the stories in the book. I am quite sure that the majority of them are fanciful embellishments. He points this out himself when he says, "I am not the best-writing author, but the bestselling author." Or something to that effect. Hey, at least he's honest and he's making a lot of money. Good for him.

But he doesn't need your help so save your money for another book. I recommend "The Richest Man in Babylon." Much more readable, fun, and is considered a classic decades after it was written...

Rating: 5 stars
Summary: It changed my life !!
Review: I don't know how to explain it! Let's put it this way. I am a senior student, getting my second B.S degree in Computer Science. Before reading this book, I was so happy to be graduated and get a high, well-paid job in computer programming. Now, after reading this book, it looks like that somebody has just woke me up after a long nice dream. I am getting a whole semester off, and start researching to start my own business. I could not believe that one book be able to not only change your view to the world, but also change your whole life. I wish I was able to give it 100 stars, instead of 5 !!

Rating: 5 stars
Summary: Great education adventure!!!!!
Review: This is a great book that will change your entire perspective on your financial situation. Though some ideas are controversial, you will realize how wrong you were about things all along that continually held you down such as taxes, investing, coorporations, and the true definition of an "asset" and a "liability".

Rating: 5 stars
Summary: Don't be Poor of Knowledge
Review: This is a wonderfully written book full of insight that you would otherwise not be aware. Everyone should read this layperson's guide to a prosperous life. Take the challenge and let fear eat your dust!

Rating: 5 stars
Summary: Putting it all together
Review: Ah yes, the secrets of the rich. So many people want to know them, but few are willing to believe them when they are told. Robert Kiyosaki does an excellent job of putting all of the financial wisdom together. I loved this book because it is not a "get rich quick" book. This is more of a fundamentals book. You have to have the right mentality in order to succeed. It does no good to learn how to identify good investments and good deals if you don't have the proper foundation and mentality. That is what I get from this book and agree wholeheartedly with Kiyosaki.

Many people who beleive that education is the only way to go may be offended by what Kiyosaki says about education; however, I don't think he is saying to not study. What I understand from this book, which is what I have always believed, is that too many people think that getting more and more of the orthodox education is going to equip someone for financial success. If that were true, then most college graduates would be financially independent, and we all know that is not true. Kiyosaki projects the idea the we must educate ourselves with an objective in mind, which is to achieve financial independence for you and your family. Now, isn't that what really counts?

I have been able to acheive some of this independence on my own using the self discipline principle taught to me by my parents, not by secondary schools or college. I just needed to put it all together with some visionary insight that thankfully Robert Kiyosaki has done through this book. I had been slowly coming to understand the don't work for money idea on my own, but this book really has turbo charged my financial wisdom. I have the Cashflow 101 game and Cashflow Quadrant book on order and am ready to continue in my quest to acheive that financial independence.

I give this book five stars for content and wisdom and not necessarily for style. Maybe he went a little overboard on giving too many details on those conversations with his rich dad at 9 years old. Can he really remember his rich dad putting his hand on his head just before saying certain words? Maybe he has an extraordinary memory. But really who cares? The important thing is the fundamentals of financial knowledge. This isn't a thesis. We can leave that to those future W-2'ers who will be working hard to make financially independent people rich.

Rating: 5 stars
Summary: GREAT START !
Review: This book is a great start for anyone looking for finantial independence. Don't mind about the bad reviews. Some people just expect a secret formula for all their problems and that's why they never get anywhere. I highly recommend it.

Rating: 2 stars
Summary: Infomercial Huckster
Review: Robert Kiyosaki is a great marketeer. This is his latest product--a book that has one good idea (buy income generating assets) and repeats it over and over. Kiyosaki's real genius is using this book to push the other products he sells.

Here's a free income generating tip from me to all you readers. Write a simplistic book about getting rich and hire Kiyosaki to market it for you. Good luck.

Rating: 5 stars
Summary: Changed the Way I Looked at Things
Review: I must tell you, as an accountant, I had it all wrong. I had, mistakenly so, always thought my house was an asset. How wrong I was. And most books I have read in this genre never speak of tithing (which I believe to be a necessity...after all, look was God gave us...his son, Jesus Christ). This is the first book where TITHING was brought up as being necessary. Hooray for Mr. Kiyosaki!

My 18 year old nephew read the book and just about came up off the couch!! Now he spends his spare time reading financial information books and magazines. He is determined that, following Robert Kiyosaki's simple plan and suggestions, he will be wealthy...and never have to worry about lack.

Why isn't this book a mandatory read in high schools??? And, speaking of schooling, it's the first book I have ever read where a real distinction was made between "education and learning" and "going to college."

I have ordered other books by this author after reading this marvelous "biography" of Mr, Kiyosaki's early life. And to Mr. Kiyosaki I can say only this, "Thank you for sharing your secret with all of us."

Rating: 5 stars
Summary: No, he's not specific about the "how" part:
Review: That's what the "Suggested Reading" suggestion is for at the back of the book. There he lists the books you should read *next*. Consider RCPD an overall roadmap to financial literacy and success. Then, for more specialized knowledge, read the books he suggests. No single author could cover everything in one book.


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