Rich Dad, Poor Dad: What the Rich Teach Their Kids about Money -- That the Poor and Middle Class Do Not!
Reviews of: Rich Dad, Poor Dad: What the Rich Teach Their Kids about...
I believe this book more or less depicts the concept of the American Dream. Kiyosaki gives a great example of two influential individuals in his life that had financial views on the complete opposite sides of the spectrum. I agree with his writing in that it seems the only people who get truly rich financially are those who are smart, risk takers with their money. As a disclaimer though, I do not fully believe the ideas expressed in this book are for every type of economic situation. Although following his advice can lead to great riches, it can also lead to great failure. The message I ultimately took from this book is smart work, not hard work will eventually get you ahead financially. It is worth the read.
After asking me for years to read this book, I finally gave into my "crazy" aunt's requests, and was pleasantly surprised. As a young man, I would recommend this book to other young people. While I agree with the critiques of this book that it isn't full of practical business advice, it is full of wisdom. This book is all about making your money work for you. I feel like, after having read it, that I know much more than I did before. There was so much about the world I just didn't know because no one had told me. This book explained that why most people who are talented and smart don't get rich is because they don't know how to use their money. They just see money as a money and not investment potential. They don't really understand how credit works. So, they get out into the real world and they want to try to get a loan but they can't get anywhere.
Ultimately, this book has helped me out, and I'm glad I read it. If for nothing else, just to have a better understanding of the world around me. This quick and easy read is a must for the young entrepreneur hoping to make the best of their minds.
After much prompting by my husband and father-in-law, I decided to give this book a shot. I was surprised at the amount of information it contained that could easily be applied to real-life situations. Unlike other "get rich" authors I've read, Kiyosaki thoroughly lays out in layman's terms all the details you need to make your money work for you. What struck me most was Kiyosaki's view of the priority American's place on schooling. While he encourages readers to attend college and get an education, he says this should not be expected to be your primary source of income. Rather, readers should be more thoroughly equipped with a financial education so that they may use the funds their jobs provide them as well as creative thinking to reinvest money into the market, whether through stocks or real estate. I came away with a better understanding of how the markets work and why most people never get rich - a simple lack of proper education about how to use money. This book is ideal for anyone with an open mind who is interested in making their hard-earned dollar go a little further.
While Robert Kiyosaki is a great motivational speaker and financial educator, the soundness of some of the advice seems questionable. In his book he talked about creating multiple income streams and starting your own business, while all of that makes sense on a theoretical level, he did not adequately address to readers the risk of starting and running businesses. Historically 90% of startups fail within 10 years.
While I think he gives an interesting perspective of money, and a lot of people are probably motivated to look at the lifestyle / spending differently, you should think carefully before starting your own business.
Got this as a gift before I had even heard of Kiyosaki. A self-made multi-millionaire friend of mine told me I had to read it if I wanted to understand the difference between me and him.
I have to say, he was right.
Not everyone will resonate with this book. Some people may be downright offended by the blunt direction Kiyosaki takes with discussing the mindset and strategy necessary to create true financial independence that does not rely on a boss, or the increasing gamble of a "steady" 401k.
Whether or not Kioysaki's style is your cup of tea or not, the lessons are 100% true, in that to truly be financially independent, you have to get your money working for you, rather than you working for your money. Whether it be investing, real estate, Kiyosaki's most important lessons come in via the "Cashflow Quadrant."
I would recommend this book for anyone who is SERIOUS about massively changing their future, thinking about becoming a business owner, or has the commitment to financial independence.
I would NOT recommend this book to anyone who is curious about "making more money", getting a higher paying job, or comfortable with their current lifestyle. It will be an UNcomfortable read for you.
Robert Kiyosaki is one of the best self-help book authors. His view of richness and financial freedom is quite different than how most people view it. Most people think big home and expensive car means that you are rich. WRONG! Rich person is one that can stop working, and his investments will earn him enough money (passive income) to allow him to live the same. In his book, Robert Kiyosaki instructs how to escape the circle of EARN MORE->BUY BIGGER HOUSE->TAKE BIGGER MORTGAGES->EARN MORE... that leads to nowhere but large debt and zero money. Robert teaches the importance of cash-flow from investments. Despite all that, his message is not completely clear, and one needs to read his book several times. I also recommend the computer game Cash Flow by Robert Kiyosaki, which is more practical.
I feel that this book had a few good points but I honestly think that it totally undermined the true value of education. Education is very important and is not something to be taken lightly. This book talks a lot about assets vs. liabilities. Education is seen as a liability and that doesn't make sense to me. Without an education I don't know where I would be. I worked hard and and I ultimately reaped the rewards. Success is not something that everyone should leave up to chance. I am very successful and I honestly owe it to the things that I have learned and the experiences that I have had. And when I have children I will teach them that the value of learning far exceeds the value of being rich by chance. So I do not recommend this book because it seems to teach values that are not my cup of tea.
This book I recommend because of its ability to inspire and motivate. Considering the vast lifestyle Author Robert K. has lived throughout his child hood, many of the concepts and fundamentals are pulled directly from trial and error. It is really a large summary of his life and what he has learned about the art of money and finance via his two dads. A dad in which who would tell him the contrary of the other, and visa versa.
This book is not for everyone. I recommend this to individuals who can read a story and siphon the important information that make the book a hit. This book is not a step by step course or system but rather a story that can be evaluated and assessed.
Robert K. has been involved in many areas of business and recommends a hand full of study and education practices that should be implemented into anyone trying to get involved in the world of business and making money. Good read, actually one of my favorite reads in the genre of abstract ways in thinking about money.
This book is just not realistic. I've seen the rave reviews for it, so I thought I'd check it out. While yes, investing in the stock market is a great idea, as investing in real estate, the author is just not realistic when he suggests doing this instead of investing in a 401-K or savings account. The stock market can let you win big- but it can also let you lose big. Savings accounts and 401-Ks may stagnate, but they're steady.
I'm a part time real estate agent and a client gave this book to me after he found out that I only sold real estate and didn't actually "invest" in it. Overall, the book is interesting, but a bit unrealistic in my professional opinion.
Rich Dad Poor Dad is written by a man that grew up with 2 father figures in his life: a "rich dad" and a "poor dad" and supposedly he analyzes both while growing up and writes a book on his findings--basically why one is rich and why one is poor.
Though the book does make a lot of good points, it encourages people to basically purchase real estate with someone else's money (through loans). While this tactic may have worked during the real estate boom, anyone that was using this book's strategy is undoubtedly hurting right now. All advice in this book is RISKY. If you are willing to take risks, I would recommend. If you prefer to play it safe (like me), I would read it with extreme caution.
Unlike every other review, I don't think the book is worth it. Rich Dad Poor Dad was interesting fairytale at best but not the right book for me. The book focuses on more on real estate investing, which is not the only source of wealth building Real estate can also be a very risky business with people losing everything. I would have like to read about some of his failures as a warning for those who are thinking about following that path to making their fortune. Also because I don’t plan to build my wealth through real estate investing it had nothing to offer me. I had borrowed it from my local library, glad I did because I would not have wanted to spend the money on it. For anyone wanting to build wealth one should not spend their money on liabilities but money producing assets, which is the best advice the book gave. One of the age old bits of advice that I was taught if it sounds too good to be true it usually is. Another secret this book offers no real secrets. If you do read this book please make sure you read Suze Orman to learn how to safely and successfully build wealth. Maybe the problem with me not liking this book is that I had already read other great authors, taking a few classes and know that there are many paths to building wealth. Each person has to build wealth according to their risk level and real estate although can be very lucrative can also lead to complete ruin. I also took some real estate classes as well. If you do follow his advice know that tax evasion and insider trading are punishable by lengthy jail terms and heavy fines. To save you time and money this is what you will get out of the book invest in money producing assets, reinvest in those assets with your profits, and avoid liabilities as much as possible. Now if you take that advice spend your money on a better book.
This book taught me the right and the wrong ways to look at money and investing. This book was very helpful and interesting as well. I had to read it for a managment class but i finished it as I don't usually finish books for class because it wasn't boring! Rich dad poor dad will show you how to become financially independent and stable so that you're not working from paycheck to paycheck. I recommend this book to anyone who wants a way out of their financial burdens and worries. I myself constantly refer back to it and use it in my life.
After watching a PBS special featuring Robert Kiyosaki, I bought this book as part of a set. While much of the financial advice in this book is useful, I didn't find it to be as unique or groundbreaking as it was portrayed to be. To it's credit, it is not one of those silly get rich quick books, which are of little true value. I do feel it would be a great book to give as a high school or college graduation present. Many of the concepts in this book would do the most for younger people, who have more discretionary cash. Although, Kiyosaki points out that investment can be started at any age, his idea of "paying yourself" first, investment strategy can be unrealistic when your budget is stretched as far as many are in today's economic times. His section on taxes is interesting and readily understandable. He like Buffet points out that when others fear, jump in. Good advice, for any who have a bit of cash, with all the bargains in this bear market.
More than anything, I find this book a little troubling. Rather than revealing anything new or revolutionary, Kiyosaki alternates between spouting the obvious- 'Save Money!' 'Live within your means!' - and offering advice that ranges from bad to incorrect to dangerous.
For example, his IPO information is completely off. He points to failed business owners to *support* his points. And, unfortunately, most of his investment advice has to do with real estate, which, for anyone watching the news, isn't perhaps the gold mine people once pretended it was. Worse still, he acts as if his ideas are a sort of panacea- curing all the (perhaps well founded) ideas that people have accumulated about money throughout a lifetime, and offering a one size fits all approach to riches.
All in all, there are better books than this- pick up a thorough guide to investing, or a volume of tips on saving. It will definitely pay off.
This book truly is a must read by anyone who seeks more freedom, time, and wealth. This book put’s life into perspective. Most people are living their life from 9 to 5 with little control of their time. Through Robert’s own life experience with his own “poor dad” and “rich dad” a friends father he explains in a simple fashion the tale of 2 smart people. The biggest thing I got from this book would have to be that in this life we have a decision. We have the decision to live our lives according the norm and never get ahead. Or we have the decision to shift our thinking very slightly to a mindset of passive income; Money working for you, allowing you more freedom and ultimately wealth. The day your passive income exceeds your monthly expenses is the day you are financially free. This book is a great start to the path to freedom…
Rich Dad, Poor Dad outlines the differences between many financial concepts we are all taught as children and how they are wrong in comparison to those concepts used by the wealthy. Mr. Kiyosaki demonstrates the differences between assets and liabilities, for example, and how many people incorrectly see liabilities as an asset.
A real eye opener, this book offers insight into many of the old fashioned notions that mislead people. "Work hard and save" is one of the topics the author discusses. This is only part of the equation to gaining wealth according to Rich Dad, Poor Dad. Poor dad thinks one way, the way many of us are taught to live. Rich dad thinks another way, however, and it is this process that helps to contrast how to effect the changes that lead to financial success.
Rich Dad, Poor Dad is not a get rich quick scheme. It is, however, a new set of guidelines anyone with ambition should read. The ambition to make the most out of their labor, money, time, and life. I have read this book several times, taken notes and applied its concepts to my life. I recommend this book to anyone who wants to turn their finances around. I wish I could have read this book at 19. It would have made a huge difference in my life. This book puts what you have always been told on its head and I am certain it is how the über rich think about money.
“Rich Dad Poor Dad” is the best book for answers to various questions about money. If you want to know why the rich get richer while the poor remain poor all their life, this book is the best book for you. The interesting thing about Robert Kiyosaki, the writer of this book, is that he has two Dads—his poor biological father and his rich Dad from whom he learned everything about the secrets of money making. The book is based on the teachings of Kiyosaki’s rich Dad.
"Rich Dad Poor Dad" will teach you amazing facts about wealth that you never knew. The book is more about the nature of wealth and the how to of wealth creation than about developing a positive mental attitude. From “Rich Dad Poor Dad,” you can get an amazing insight into factors such as assets and investments and many things about wealth creation that make perfect sense. Unfortunately, there are too many “poor Dads” in the world, which is why it pays to listen to the “rich Dads” for a change.
I don't often read books that have to do with any sort of financial message, but this one was given to me from someone I respect very much and who's life I greatly admire. Amazingly enough I read it voraciously and have decided to keep it in my library, which I do not often do, as I like to pass books on.
One of my favorite quotes from this book is:
"Physical exercise improves health, mental exercise improves wealth, laziness destroys both." To this day, I still have it written on my mirror and it has inspired me to work hard everyday. I appreciated the way this book was educational AND inspirational. The book touches upon corporations and how they amass their wealth; it also teaches you to look at what you have differently and how it made me reflect on my own financial behaviors. I know this book is highly revered by most talk show hosts and a lot of financial gurus too--for good reason! I'm glad I read it before I had any children. It has really made me take a much more proactive stance in how I will raise them, once they're here ;)
I liked the book, thought the stories were inspiration. I liked the general philosophy of wealth building this conveys as it is different. I do wish that this book would have gone into more specific detail on "how to" do things. I like some of this other books better than this one. Creating or buying assets and leverage are some of the key points he speaks to in this book.
As far as mindset goes, this book really acts like a career / life path compass. It will steer you in the right general direction. It is however up to the reader to go after the specifics on their own. I have created assets that produce residual income (by writing books) since reading this book. This path he placed me on has indeed improved my financial status. I would have given it 5 stars if it gave more concrete methods and details.
Rich Dad, Poor Dad by Robert Kiyosaki is a good book about escaping the rat race of a 9-5 or entrepreneurial job, in order to create wealth and live the good life. The problem, he writes, is that our families and educational systems are set up to encourage people to specialize in a field, and then earn money as they progress in their trade. This, however, only creates money for other people, and the salary earned is even taxed by the government. Instead, rich people teach their children to “pay themselves first” by finding opportunities to invest or create businesses, which other people work in, and which the government taxes at considerably less rates. Giving tips and techniques, he encourages people to change their way of thinking, and live the life they’ve always wanted.
I found the book to be very good, in that it presented a mindset I did not grow up with, but which makes a lot of sense. I have already made changes in our budget to accommodate these new ideas. However, a lot of the book is fluff writing to fill out the pages, and in terms of specific details the book is lacking. Nevertheless, I recommend it because the idea is revolutionary. It’s just that the author is making another buck or two getting you to fund his lifestyle. If you can implement his ideas, however, you will be well on your way.
This book was highly recommended to me by my brothers, who had been pressuring me to read it for years. truthfully, I was dreading it, thinking it was a statistical book that would be quite boring. However, the book surprised me. It was the author's account of growing up with his "poor dad," while gaining knowledge from his friend's "rich dad."
Though I was positively surprised because the book wasn't boring, I was also a little disppointed. With all the hype from the book, I expected to rad it and immediately know what to do to be better off financially. And though it helps, the book mostly states common sense strategies that most people could figure out on their own.
Overall though, this book was very insightful and did help in small ways. It made me reevaluate my finances and think a little bit differently. So, to sum it up, not the best book in the world, but definitely interesting.
"Rich Dad, Poor Dad" changed my life. I read this back when I was in college; a recommended read by one of my business professors. In the book, Kiyosaki explains with ease and simplicity the difference in mentalities that the rich and middle class have regarding money. He takes time to unravel his own path to success, starting from his childhood, seeing the stark differences between Rich Dad and Poor Dad, who is actually his own father. This book dares you to be brave and not be enslaved by money. If anything, money should be able to work for you. It is a truly empowering read.
‘Rich Dad, Poor Dad’, by Robert Kiyosaki is about how Mr. Kiyosaki grew up observing his own father – who suggested saving and hard work were the way to go, and his best friends dad, a college dropout who’s philosophy meant making your money work for you. As the title suggests it shows the difference between how the rich teach their children about money compared to how the middle class and poor.
I had very high expectations for ‘Rich Dad, Poor Dad’, but was left somewhat disappointed. Many people have raved to me about this series of books, but this one wasn’t really what I expected. First of all, I would consider Mr. Kiyosaki’s father quite wealthy. Not a multi-millionaire by any means, but probably more well off than a huge percentage of Americans. Second of all, I was expecting more advice on how to get rich from lessons learned. But the books seems to focus on explaining why the rich are rich and the poor are poor, rather than helping to change this.
Whether or not Kiyosaki had 2 dads, he sure has the double edge when it comes to delivering sense: Simplicity and Strength.
No book I have read in all of school and university has been of more practical use than Rich Dad, Poor Dad. The absolute simplicity of the concept of asset creation... why don't we just focus on that in our twenties? And the strength to suggest that one could convert expenses to assets, as one does in network marketing for instance, to create a life time of financial freedom!
The fact that the rich have values too, and great ones in fact, comes out in a manner that the poor too can appreciate.
In fact, there are too many avant garde concepts in this book for a brief review to do any justice to. A caveat however, read the book only if you have an open mind about changing a few things contrary to the way anyone in the family did earlier. You will be blessed.
Where to start... This book opened my eyes to a whole lot of things. My father-in-law bought the book and gave it to me. The book is not written for millionaires, this book is written for normal people with normal bills. The main message, that I got, was to live within your means and if you do that and save, no telling how much money you could have. After I got married, I went on a spending spree and I am paying for it now, but this book showed me how to deal with my finances in a way that is do-able. So many tell me, well you get out of debt this way and you save that way. This book puts it all into perspective for me. I would recommend this book to anyone who needs financial help and anyone who doesn't. Even if you are living comfortably, this book can give you helpful ideas on how to make that better.
I purchased Robert Kiyosaki's "Rich Dad, Poor Dad" almost a decade ago when it was peaking on all the popular best seller's lists.
My life has not been the same since.
Robert Kiyosaki was granted a wonderful gift in his childhood. As the child of a highly educated teacher, he was bound and destined to pursue the life of the intellectual elite. But fate handed Robert an option many of us would pay dearly to acquire, one which he took to heart and applied for the rest of his life.
Robert's best friend was from a merchant class family that achieved great financial success. Over time as he grew closer to this family, he was carefully tucked under the wing of his best friends father, who taught him simple and effective lessons of financial wisdom. Lessons which most highly educated people like his own father simply never learned.
In "Rich Dad, Poor Dad" Robert expounds on the most valuable lessons he learned from this kind and very wise man. Clearly possessed of his own fathers intelligence, he has taken these lessons and grown with them over the years to a point of mastery and understanding few others achieve.
There is no step-by-step formula here for generating income. No encoded way to make a million dollars on the internet or become the next real estate tycoon. Instead it is filled with life changing tools that will forever alter how you view financial success, and how to manage it. Tools that will change your perspective on assets and liabilities, opportunity assessment, and laying out plans for living a better and more financially secure life.
Don't let the ease with which you get to the end of the book fool you. Robert clearly did not write this book for the intellectual elite. An eight grader will understand it just as well as any adult. Perhaps even better since they are typically working with a clean slate with respect to financial management. Take the time to re read it until the concepts which he presents are second nature and ingrained into your thinking and planning.
"Rich Dad, Poor Dad" is filled with wisdom that will benefit all who read it. I have kept this book on the top shelf of my favorite bookcase for many many years. I take it down periodically and re-read it to keep the concepts fresh in my mind.
Robert is not the only author that has left me with such deep and life changing impressions, but this book is on my all time top ten list for a reason. It changed my life for the better, it changed my families lives (I frequently give this book away to those who I think will read it and benefit from it), and I tend to look upon Robert now as a mentor.
If you like this book and benefit from it like I did, find a copy of his book "Cashflow Quadrant". Its on my all time top ten list too. For all the same reasons this one is.