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    Rich Dad Poor Dad
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    Rich Dad Poor Dad
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    Rich Dad Poor Dad
    Ebook202 pages4 hours

    Rich Dad Poor Dad

    By Robert T. Kiyosaki

    3.5/5

    ()

    Currently unavailable

    Currently unavailable

    About this ebook

    Robert’s definition of the “Rat Race”

    "If you look at the life of the average-educated, hard-working person, there is a similar path. The child is born and goes to school. The proud parents are excited because the child excels, gets fair to good grades, and is accepted into a college. The child graduates, maybe goes on to graduate school and then does exactly as programmed: looks for a safe, secure job or career. The child finds that job, maybe as a doctor or a lawyer, or joins the Army or works for the government. Generally, the child begins to make money, credit cards start to arrive in mass, and the shopping begins, if it already hasn't.

    "Having money to burn, the child goes to places where other young people just like them hang out, and they meet people, they date, and sometimes they get married. Life is wonderful now, because today, both men and women work. Two incomes are bliss...
    LanguageEnglish
    PublisherLulu.com
    Release dateJun 9, 2016
    ISBN9781365184338
    Unavailable
    Rich Dad Poor Dad
    Author

    Robert T. Kiyosaki

    Robert Kiyosaki, author of Rich Dad Poor Dad, the international runaway bestseller, is an investor, entrepreneur specializing in mining and real estate, as well as an educator. Rich Dad Poor Dad, published in 1997, has held a top spot on the famed New York Times list for nearly six years. Translated into 46 languages and available in 97 countries, the Rich Dad series has sold over 26 million copies worldwide and has dominated bestsellers lists across Asia, Australia, South America, Mexico, South Africa, and Europe.

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    Reviews for Rich Dad Poor Dad

    3.5/5

    1,339 ratings52 reviews

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    • 5/5
      Gives a great picture of what a financially successful life should look like in terms of investment, income, and pursuit of continuing success. An excellent read overall, but would benefit by offering a bit more advice on daily, down-to-Earth changes that the typical individual can make to start on the path described in the book.
    • 3/5
      I think for a novice financial person this is a good motivational book. There is nothing really new or enterprising given as advice. It is extremely redundant and could easily have been half the size. But, some people need redundancy for a concept to sink in so take it as you will.
    • 4/5
      Investor describes how he learned about money from his PhD father, who could never retain wealth, and also from his friend's father, who was a millionaire with an eighth grade education. Explains how to make your money work for you by mastering financial literacy and taking charge.
    • 5/5
      Phenomenal writing. Maybe the best financial advice offered in a century. Kiyosaki is articulate as he weaves his tale of life experience from mediocre living to great wealth. I know from experience his information is true, because I was taught this when I was young. Rich Dad, Poor Dad should be required reading for all teenagers and adults alike who do not understand how to read the financial pages in the newspaper. He breaks the complexities of economists and bankers down into bite sized pieces for the layman.
    • 1/5
      Sharon Lechter was introduced to Robert Kiyosaki by her husband, a patent lawyer. Koyosaki wanted to patent an educational game called "Cashflow" aimed at improving what he calls young peoples financial intelligence.One thing leads to another and they eventually colaborated in producing this book which is essentially a financial biography of Kiyosaki. The Rich Dad, Poor Dad of the title are his real father, the superintendent of education for Hawaii (poor) and the businessman father of a schoolfriend (rich). He says that at age 9 he decided to follow the advice of his rich dad and contrasts it with the advice of his poor dad throughout the book. For example, poor dad says, "Love of money is the root of all evil", but rich dad says, "The lack of money is the root of all evil" and he follows rich dad, making the money but proving that his poor dad was right on the moral aspects.Rich dad says, "The rich don't pay taxes, that's only for the poor and middle class", or Kiyosaki; "In real estate I make an offer with the words, "Subject to approval of my business partner" ...... and if they accept the offer and I don't want the deal I call my (non existent) business partner"Or rich dad this time. He hugs a manageress in one of his shops and says that she is like a mother to him, then in the next breath gives a warning that "you'll wind up like Mrs Martin". He could have said that he respected her for her loyalty and good work but he clearly doesn't.If Kiyosaki had been aboard the Titanic you would undoubtedly have found him hiding behind the women and children in the first life raft, but in non critical situations he has some useful things to say about financial management.His idea that an asset is only an asset if it makes you money is a good one. If you take a large mortgage to buy a private residence then it is a drain on your resources although an accountant would class it as an asset.He's also good on the importance of clear thinking. As he says, "Most people do not know that it is their emotions that are doing the thinking."The book is aimed at young people but should come with a double warning. Firstly that the writer is dishonest and secondly that the "less travelled road" of business ownership is very risky for less imaginative people than Kiyosaki.A better choice is Sam Waltons "Made in America". He was a far better person than Kiyosaki and much more successful.
    • 5/5
      What else could I ask for for financial success...it's all here!!
    • 2/5
      I was really skeptical when I started this book. Although I'm generally interested in books on personal development, this one really seemed, and seems as you read it, like cheap bait. The writing style is shit, but the way the story is structured is interesting.

      Robert Kiyosaki talks about the contrast between his 'poor' educated liberal dad and his childhood mentor, labelled 'rich' dad. Rich dad is a business magnate and gives Robert his hard knocks education in how the world works vis-a-vis financial smarts.

      It seems that Robert's arms are long enough to easily and quickly pat himself on the back. If you can sift through the paltry attempts at luring in the reader (I swear if he mentions his Porsche one more time...) then you'll find some useful ideas here. As with anything, keep an open mind when reading and take away what's useful to you; be vigilant about his compulsive fact-bending.

    • 4/5
      Essentially the book had only a handful of points and reiterated them in countless ways - somehow filling up a whole book! Despite the vast amount of repetition, this book is quite useful in putting you in the proper mindset for approaching the management of your money. The format is to use stories of his childhood and young adult life to take common wisdom espoused by those who never seem to "get ahead" in life (the poor) and redirect them into the "correct" way of thinking in order to manage your money (instead of letting it manage you!). I believe this book has done it's job and I'm now pursuing several other business books in order to begin my financial education, I have several ideas working in my head, and I intend to take action as soon as possible instead of waiting for Fates to smile upon me!
    • 2/5
      Although I've been on a personal finance kick, I probably wouldn't have picked up something this old if my soon-to-be in-laws didn't swear by it. I now understand why -- they do a lot with real estate. But I'm not sure who else would really be helped by this one. I don't trust that many shortcuts and I never get a good feeling about "only suckers pay taxes" type advice. My main problem was that this is marketed as a 'usable advice for everyone' type of book when it's actually only suitable for entrepreneurial types, and that is a very small group. The idea of thinking of your house as a liability rather than an asset could be pretty helpful, especially in the area of avoiding home equity loans. And I did appreciate how he was much better than the contemporary gurus (Ramsey, etc.) about encouraging charitable giving. Considering my (library's) copy was an umpteenth edition, it's odd how many typos there were.
    • 5/5
      Very easy read and was well worth time to read it!As the author states many times through out the book you should make money work for you, you should not work for money. I have to make some changes and Robert pointed me in the right direction. I hope that I can impart all of this knowledge to my children as they grow up...If not I can always have them read this book!
    • 3/5
      There are some cute anecdotes here, but the book has two major failings. First, the writing is appalling. Long-winded, repetitive stories in that folksy, "man of the street" style that gets tedious quickly. Secondly, the advice isn't helpful.Kiyosaki describes three "tracks": most people manage their money badly, spending as much, or more, as they earn. A small percentage, which I identify with, are capable of spending less than they earn, but don't do anything particularly spectacular with their savings. And the third track? The one Kiyosaki enthusiastically espouses? It sounds an awful lot like "full-time property investor" to me. So it's clearly not for everyone.After a while, his cheery catchphrases ("I pay myself first, before the government!", "My money works for me, not the other way around!") begin to grate. Does his strategy depend on US tax law? Who knows? He's not specific enough.
    • 4/5
      A fantastic motivation for getting rich, but really it's only a philosophy for how to get rich without any actions. The book is also pretty poorly editted and very repetitive. The author is a huge fan of motivational seminars, and it shows. It does have really good advice, though, and is the perfect book for getting excited about leaving the rat race.
    • 4/5
      A well-written book. I was very hesitant to buy this book because of all the negative comments i have been reading but I am glad I did not listen to those comments. This book was able to achieve for me what it really aims to do: To inspire the reader to invest.
    • 4/5
      Given the popularity of the book and it's many reviews, I'm not sure an overview of Rich Dad, Poor Dad is necessary. Nonetheless, here's my abbreviated version.Rich Dad, Poor Dad tells the story of Mr. Kiyosaki as a young man and the money lessons that he learned from his "Rich Dad" who was the father of one of his childhood friends. Rich Dad was a successful entrepreneur and he taught the boys the life lessons that they needed to become wealthy. This story shares those lessons and emphasizes them by comparing them against the actions/lessons of his highly educated but financially inept "Poor Dad". A few of the differences highlighted include:- One should "get a job to make money" versus "put money to work for you"- What is an asset and what is a liability- What is important to study and how to apply that knowledgeThese were all good points and there were other topics in the book that provided more specifics. The following examples were from Rich Dad's explanation of how the rich use corporations as a vehicle for sheltering money. - That corporations spend first, then pay taxes, while individuals must pay taxes first- That corporations are artificial entities that anyone can use, but the poor usually don't know howAs you might imagine, there were other examples in the book as well. For me, three main points resonated and while they may not be rocket science, they warrant my rating of 4 stars. First was the new definition of liability and asset. It's quite simple. An asset is something that you purchase that will produce income for you. Everything else that you spend money on is a liability. The most dramatic example that Kiyosaki gives is your house. Most people list this as an asset. Rich Dad considers this a liability. Why? Because it isn't producing cash flow. In fact, you dump money into it through repairs, interest to the mortgagor, taxes, etc. You receive no cash flow until you sell it. Even then, you may or may not make a net profit. Keep in mind that this is not the case with all real estate just your personal home. Other real estate should be producing a positive cash flow (or you shouldn't own it). Kiyosaki wasn't discouraging the purchase of a home, he just considers it a necessary liability rather than your primary asset.Second was the use of corporations to shelter taxes. I have some experience with this approach (my wife and I have one company already) but Kiyosaki's comments led me to revisit the drain of taxes on my family's income. I will be spending more time with our accountant to reduce taxes as much as possible in 2008. Some of this will be done through the vehicle of a corporation. I still don't believe we've fully tapped this opportunity.Finally, and most importantly, I liked the concept of building businesses or other assets that can produce your monthly income. This sounds like common sense but the way it was described was to gradually add assets that produce monthly income until you can eventually leave the rat race and focus exclusively on building more assets. You don't reward yourself with new toys (i.e. liabilities) until you have generated the cash flow to purchase them (not through an employer).I see this as the beauty of the book. It is a reminder of what it takes to get rich. Most of this isn't new information. It's a culmination of information told in the form of a story. That being said, it's well done and it's motivating.Kiyosaki doesn't get overly prescriptive. The book has been criticized for not getting into the details of "how to". But really, how could he? There are so many different ways to go about making money and so many factors that play into whether or not one will be successful that you could write twenty volumes. Guess what? That's what he's begun doing through licensing the "Rich Dad" monicker. He has people writing books on "Guide to Investing", "Real Estate Investing", "Own Your Own Corporation", and more. He is licensing others to provide the details. Rich Dad, Poor Dad is the primer.
    • 4/5
      A real eye opener. This very short, concise book made me sad, angry, and happy.

      -Sad because, at the age of 46, I realized that my approach to money and career has been "not helpful" to say the least.

      -Angry because our educational system fails to teach the vast majority of citizens how to earn and manage money.

      -Happy because it's not too late for me to turn things around.

      A worthwhile, inspirational read.
    • 5/5
      I have long heard of the author and of the Rich Dad Poor Dad series but have only just finally read it and so glad that I did. He presents compelling arguments on how the wealthy obtain their wealth, and makes you rethink the goals of money and financial gain. He takes the mathematics, and makes it simple however to change behaviours is very difficult. The book is best suited for the younger generation, but its ideas and concepts are not out of reach for an educated individual. Simply keep an open mind and you will realize that most of what he says is spot on. I am not in agreement and going to say that everything he believes is right but then I don't think that everything people believe is right, including me. Having an open mind and not being steadfast is in my opinion what I think everyone needs in order to be successful. People who are not amiable and able to adapt to the ever growing ideas and concepts of others than you will be left behind because it shows they do not listen. Beliefs and thoughts are what make us human and there is more and more research that supports those ideas. If we are all human, and have the same physiological wiring, I see no reason why we cannot all be wealthy beyond our own believes. Kudo’s on a well written book! I plan on reading it again.
    • 2/5
      There are a few interesting and useful ideas in here, if you can get past all the pull-yourself-up-by-your-bootstraps waffle. (And much of the book really is repetitive waffle.)

      The point that in practical terms "assets put money in your pocket; liabilities take money out of your pocket" seems a very important one. Thus, the house you live in is a liability (you pay the mortgage, maintenance, property tax, etc) while the house you rent out is an asset (you gain rent). Not that owning your own house is therefore a bad thing, but it's not putting money in your pocket so if your goal is to get rich then buying a bigger one isn't going to forward your goal.

      But it's hard to get past the fact that it would have been better titled "Rich Dad, Average-income Dad". Occasionally the author acknowledges that people who are really poor can't choose to save money; but ultimately the book is aimed at the kind of person who's got a secure job, would be perfectly comfortable if they didn't keep trying to keep up with the Joneses, but wants to know how to get rich so they could keep up with the Joneses after all.
    • 5/5
      This is the first book I have ever read on investing. This book is not a step by step guide on how to investing in stock or real estate but rather it teaches you the difference between the mindset of an Employee a Small Business Owner, A Big Business Owner and an Investor. It teaches how to distinguish the difference between an asset and a liability and how to change your mindset from an employee to the mindset of a big business or investor. Concepts that might seem basic but are essential if you want to be successful. As without the right mindset you will never succeed.
    • 4/5
      I think that this book is great in opening your mind to the possibilities. It is a great starting point for those that want to get started learning in investing. While it gives some examples, it really is just a basis for the reader to decide if which direction they want to go.On the recommendation of one of my preceptors I read this book, and realized with my approach to being stuck in the middle class. Now I have started looking into other options how to grow my assets instead of liabilities. I am still young so hopefully I will find my way...
    • 3/5
      A parable type approach to explaining finances.
    • 4/5
      This changed thinking about wealth generation in many ways. The math is flawless and simple enough for everyone to understand. Perhaps the consistent example of owning homes and renting them out, and some other examples, are too focused. I wouldn't be surprised if many readers of this ran out to buy a 2nd home to rent out and slowly gain equity on an asset, funded by renters. The backstory of having a second father is a bit of a stretch and I found this a bit smarmy, and detracting from the main value, and distracting. Once beyond the 'two fathers' backstory however, it becomes not only factual, but motivational. The last third of the book talks a lot about why readers of the book won't use its principles to create wealth, and ways to break through them. I would say this is a must read, and the earlier in life and more consistently, the better.
    • 4/5
      Very American in that it repeats itself at least three times. Expect to finish this book in 3 hours tops. Given its popular theme and style, it still is an interesting read. How one applies his/her life, has a direct result on the fruits one reaps. What I liked most about this book is the idea of building a money machine. Put your creativity into building something that will keep generating income on its own and irrespective of how little time you invest in it. Because this for me is essential in business. You 'child' needs to be taken care of initially, but increasingly it will stand on its own feet. And eventually it will take care of you. If that potential is lacking, leave it be and invest your times differently. An easy and quick read with good retention and practical value.
    • 5/5
      A great book to read.very encouraging and full of examples
    • 3/5
      This book was highly recommended to me as an exceptional book to learn about personal finances and how to make money. I was disappointed. While Kiyosaki has a few good ideas, the majority of the book was fluff, and quite repetitive. He encouraged taking advantage of people's ignorance and misery and extolled the pursuit of money as a game, even when it hurt others. In the end, I took almost nothing away from the book, except of few bits of advice and a full loathing for anyone who uses others to gain something as trite as money. Kiyosaki gave the reader very little for the money spent on his book - another example of how to make money, I guess.
    • 3/5
      Well I have tried to read this numerous times, but last week I made the effort. On reflection it was what I thought it would be in the first place. We all need more education when it comes to money so write another book, the message is a good one for me.
    • 5/5
      Excellent book. Light reading, but with some heavy substance. I'll be re-reading this again soon, as well as some of the other books by this author.
    • 4/5
      Finally finished this book. Not that it was a chore to read, it was more that the information in it was so facinating that I needed to go back and re-read sections. This book is a permanent collection book for sure! Also, to truly be able to execute on the premises laid out in this book I will need to go back again and again to feed the ideas into my subconcious mind.

      I highly recommend this book to everyone. Robert Kiyosaki and Sharon Lechter do an excellent job of describing Robert's experiences with handling money. This book was a 30,000 foot overview of handling money however and does not go into too many detailed specifics. It focuses more on a positive mental attitude and ideas that are risky but if executed correctly and with persistence, can make one wealthy. I also plan on investing in Robert's other works as I feel he will expound on these ideas. Robert, loosley bases the premise of having two dads with oposing views on handling money. If I can fault Robert for anything in this book, it would be that he assumes the fact that having money will make you happy. This fault is dicey at best because if you are of the mind that you are happy financially where you are, then go read something else. Robert makes no judgement call on anyone's particular lifestyle, he is just answering the question he probably gets asked most of the time, "How did you get so rich?".
    • 5/5
      I read this book while at a friends house for the day- and it gripped me until I finished it. It wasnt in my genre but after my recommendations I decided to check it out and I must say I loved the advice given.Not only did it change my outlook on money and spending but it also changed my outlook on life. It was so bad I filled my facebook status with a new quote every couple hours it was that good. Im not sure if I'll be wealthy after putting these theories to work but I will say that itll change the way I pursue all of my endeavors. The writing style is approachable and its a quick read. Certainly worth a day of your time41/2 out of 5
    • 5/5
      Very inspiring and eye opening. This book is one of the things I have been searching for. Answers to my questions that has been bothering me for more than a decade has been finally made clear. This book should be read by many a student to be able to face a future where employment seems to be the only answer to financial problems in life. It's very easy to understand and very easy to follow. I hope to read more of Kiyoaki's works in the future--especially those that concern the sophisticated subjects of investment and business management. It's a book that one should never miss reading in a lifetime.
    • 4/5
      A very interesting book with a new perspective in what constitute wealth and what is really an asset for a person. Kiyosaki may be optimistic and make it sound just too easy, so the book may lose perspective, but as he recognizes, being rich is an attitude but you need also education, and he ping points other resources to get that education.