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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
- By Robert T. Kiyosaki, Sharon L. Lechter
Paperback
01 April, 2000
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Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed. --Howard Rothman
SalesRank: 46
Manufacturer: Warner Books
ASIN: 0446677450
ISBN: 0446677450
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! - - By Robert T. Kiyosaki, Sharon L. Lechter
Rating: 5
A highly stimulating read.
OK, you've read the editorials, and maybe some of the other reviews here. I have a comfortable income, but from a single source, and am starting my own business, and I found this book fascinating and very useful. The author believes understanding and education (not necessarily of the school variety) are key elements if one seriously wants to become wealthy: if you are looking for specific details on what to do, when and how, you will be disappointed. The book does not advocate one particular way to earn money, tho the author uses some examples from his own experience of buying real-estate. This book is not "Finance For Dummies". It doesn't even have an index. The book is part narrative: it tells the story of how the author learned from his rich "Dad". The rich Dad sounds like an excellent teacher, probably better than the author, whose writing style is a little flat. Being a teacher myself, I thoroughly enjoyed reading about how rich Dad taught his 2 "kids", and I agree with Kiyosaki's approach to learning and teaching. Not being a big business owner or high-flying investor, I cannot vouch for the financial details in the book. However, I think it does a great job of pointing out the fact that "financial literacy" is just as important and vital as "computer literacy": one is taught in school, the other isn't. It also does a great job of starting to teach me (hate math, no good with figures) about financial literacy: I appreciated the simple language and the diagrams (OK some of the narrative is a little hokey). The present economic climate has outgrown the old reality of "get a good education, a stable job with good benefits and you're all set." For me, it was a wake-up call. I immediately bought the other 2 in the series, and I want to try the game. I don't think this book is just a scam to get rich: if it was, I think Kiyosaki would have made sure his book is a success by spending a lot more on advertising than he actually did - almost nothing.
Rating: 4
Millionaire School
Rich Dad, Poor Dad offers good stories and advice for the reader who really wants to make money work but doesn't want to read a dry financial text. This is not a guide to making your money work so you don't have to work at all. It is a sensible approach to balancing your life and finances.
Rich Dad, Poor Dad challenges the reader to take a detailed look at what works and what doesn't work in managing lifelong goals. I used to make a living as a financial advisor, so I know that setting realistic goals and managing finite resources is one of the biggest concerns of investors. Kiyosaki challenges each reader to do what is right based on personal goals and desires rather than following a cookie cutter approach to wealth.
This is a good book if you are looking for a new perspective on the age old dilemma of having more. Just remember that the information is presented in a storybook format for your enjoyment. Ultimately, you're left with the hard decisions of having to sort out the specific advice that works for your situation.
After reading Rich Dad, Poor Dad, check out Rat Race Relaxer: Your Potential & The Maze of Life by JoAnna Carey for goal oriented tips that help you take inventory of your personal wealth.
Rating: 5
Powerful, life changing program
A few months ago, I was working in sales for a B>B Business Group. I followed Mr. Kiyosaki's advice and started investing my money in passive income. I bought some equities, a rental or two and started a home based business.
While my colleagues spent their checks and worked for ThankGodItsFriday and cheer for Wednesdays because it was "hump day" and yell hooray for the weekend, and then made wise cracks about my goals. I invested, left that company over 6 weeks ago and am now full time in my own business. Meanwhile, my colleagues were recently served notice that their company (my former company) is laying off 150 people!
Thank God for Robert Kiyosaki.