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 MoneyThat the Poor and Middle Class Do Not Author:Robert T. Kiyosaki, Sharon L. Lechter "Personal-finance author and lecturer Robert T. Kiyosaki developed his unique economic perspective from two very different influences--his two fathers. One father (Robert's real father) was a highly educated man, but fiscally poor. The other father was the father of Robert's best friend--the Dad who was an eighth grade dropout who became a sel... more »f-made multi-millionaire. The lifelong monetary problems experienced by his "poor dad" pounded home the counterpoint communicated by his "rich dad." Taking that message to heart, Kiyosaki was able to retore at 47. RICH DAD, POOR DAD, written with consultant and CPA Sharon L. Lechter lays out Kiyosaki's philosophy behind his relationship with money. RICH DAD, POOR DAD opens readers eyes by: - exploding the myth that you need to earn a high income to be rich
- challenging the belief that your house is an asset
- defining once and for all an asset versus a liability
- explaining what kids need to know about money for their future financial success"« less
Amy P. (AmyP) reviewed Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! on + 7 more book reviews
Helpful Score: 14
Robert Kiyosaki is a fraud with a documented history of lying about his background, his wealth, and his financial abilities. He advises readers to engage in illegal insider trading and tax fraud. Read http://www.johntreed.com/Kiyosaki.html for a pretty thorough debunking of his claims.
If you are worried about managing your financial future, then this book helps to put things in perspective. While there are many \"how to\" books, this one teaches you how to have your money work for you.
Amanda K. (akortokrax) reviewed Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! on
I personally didn't find anything of value in this book, and I don't think the average person would. I've also heard that the man who wrote this book has been involved in multiple scandals and there are ethical concerns with his methods.
I would suggest reading "Your Money or Your Life" instead.
Explodes the myth that you need to earn a high income to become rich
Challenge the belief that your house is an asset
Show parents why they can't rely on the school system to teach their kids about money
Define once and for all an asset and a liability
Teach you what to teach your kids about money for their future financial success.
Paul T. reviewed Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! on + 4 more book reviews
I have listened to the tapes during my daily commutes and have heard the book in its entirety at least 3 times. The tapes are separated into 2 parts. The first part is a financial biography of the author, Robert Kiyosaki, who walks the reader through the lessons he learned as a child growing up in Hawaii from his "rich" dad. His "poor" dad is his biological father who keeps to the same wisdom that most of us adhere to - get educated, join a company with a good paying job, buy a home, and pay the taxman and lenders accordingly. The author's "rich" dad is the author's best friend's father who is rapidly building a financial empire of various investments and businesses.
The second cassette provides more detail about how the rich "make money" as opposite to the middle class and the poor "earning money". He goes into details about the concepts of assets VS liabilities, taxation, corporations, and the mind set needed to move away from the proverbial rat race.
Overall, the book does a good job in providing sage advice and stories to enhance the points that he makes. I do not completely agree with everything the author puts forth and if one has read "The millionaire next door", one will find some minor contradictions. For example, most real millionaires have made their money through good old fashion labor and by living below their means. "Rich Dad, Poor Dad" takes on more of a Donald Trump style of making money by passive investments. Still, Kiyosaki's has some great incite and I will end this commmentary with what I have taken away from the book - "Work to learn, not work to live"