Rich Dad, Poor Dad by Robert T. Kiyosaki

Rich Dad, Poor Dad

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 - that Dad was an eighth-grade drop-out who became a self-made multi-millionaire. The li...

Title:Rich Dad, Poor Dad
Author:
Rating:
ISBN:0751532711
Edition Language:English
Number of Pages:195 pages

Rich Dad, Poor Dad Reviews

  • J.G. Keely

    I read this book while in an Entrepreneur phase. On one hand, it is rather inspiring, in a John Madden sort of way. You see, John Madden (American football broadcaster) always makes everything sound easy, which may be how he coached the Raiders to the superbowl. He'll say something like "now what they need to do here is score a touchdown. I think that if they can do that, they will turn this game around".

    I still recall a memorable game where a quarterback's contact fell out, and while he and th

    I read this book while in an Entrepreneur phase. On one hand, it is rather inspiring, in a John Madden sort of way. You see, John Madden (American football broadcaster) always makes everything sound easy, which may be how he coached the Raiders to the superbowl. He'll say something like "now what they need to do here is score a touchdown. I think that if they can do that, they will turn this game around".

    I still recall a memorable game where a quarterback's contact fell out, and while he and the refs looked for it, Madden said "now here's a guy who when he wears glasses, he can see better". When it's explained in such a simple way, it really seems like the easiest thing in the world. Unfortunately, one must remember that the 6'5 defensive line is not just going to roll over and say 'uncle'.

    Real estate isn't any easier. There's always some conflict around the corner to trip you up and send you back to square one (or often, square negative one). So, while this book gives you such excellent advice as "learn from failure", "make profitable deals", and "work hard for yourself", it doesn't actually give you a system or method to make money.

    This seems a strange irony to me, as this book is clearly marketed to people who are not smart enough to realize that they should 'work hard and not give up' if they want to succeed, but who are smart enough to be able to figure all the rest of the logistics out by themselves.

    Now, there are supplementary books that give a lot more in-depth information, but they still tend to fall into similar traps. It seems to me that you are either the self-motivated entrepreneur-type, or you aren't, and that difference will show itself often and early in life. The self-made may use this book, but to continue projects they are already working on, not to start their 'dream business' from scratch.

    There is another option for the marketability of this book, but it is not one I like to think about: depressed people who feel their lives going nowhere trying to stave off depression by clinging to untenable dreams. For these types, self-help and new age books act like a surrogate (or additional) religion: bolstering their self-esteem and making them feel as if their dreams are truly within reach.

    Then, years go by and the dream draws no nearer. They get depressed. So they whip out this book (or another one like it) and suddenly feel like their millionaire retirement is only 6 months away! This makes them feel self-satisfied and complacent, so they end up doing nothing until suddenly, months later, they realize they're no closer to their goal. I'm not saying people shouldn't have dreams, and I'm definitely not saying not to follow them, and I know people get attached to their denial, but it's not going to make your life any better.

    More than anything, this book is a symptom of the cult of the real estate bubble, for whom property was never a bad investment: it would never go down and rates would always get more and more favorable. To say that their view was naively rosy would be kind.

    One day, so the story goes, Joseph P. Kennedy was getting a shoe shine when the shine boy started talking about what stocks were good to invest in. This is what we call 'market saturation'--when one area of business becomes popular, and suddenly, it seems like everyone is joining in. Kennedy got out before the crash of '29, and an intelligent investor, seeing how many books and reality shows there were about flipping houses, should have seen the real estate crash coming.

    Unfortunately, the fiscal prophets of the self-help section were unable to predict the coming apocalypse--so it's lucky for them that their money was tied up in book sales and speaking engagements rather than in the real estate deals they were pushing on others. I'd like to think that these sales would drop off after the 'miracle of real estate' turned out to be another hollow investment bubble, but in these dire times, people are even more desperate to find the path to economic stability.

    Now, I know that most people who (don't say 'peddle', don't say 'peddle') market these self-help (or new age) products are not usually scam artists. Most of them believe in what they do; they believe that they are helping people; and I hope sometimes they do.

    However, there is a difference between being a doctor and telling someone they have cancer to help them move on, and lying that there is no cancer because it seems more 'kind' or 'uplifting'. The latter, is, of course, morally reprehensible (said the atheist).

    Kiyosaki has built an empire off of this book, and made himself a pretty penny. He has also been investigated by some critics who have challenged his assertions about his wealth, real estate successes, and the very premise of the book. There is no evidence that his 'rich dad' ever actually existed, and Kiyosaki has said in interviews that the character is, at best, a combination of people. However, at other times he has stated that he definitely does exist. And that doesn't even go into his support of con artist Casey Serin.

    Maybe I'm wrong, maybe you will buy this book and it will turn your life around, maybe Kiyosaki is relating a true story of struggle and inspiration--but maybe not, maybe it will just be another $5 in his pocket and less room on your bookshelf for real economic and legal texts.

  • L

    This book is not just about money. It's about how we are taught to think; how we are programmed by schools, family, and friends to look at the rich as greedy no good bloodsuckers and opportunities as risks. It is an attempt to reprogram minds to look at why we do what we do.. why do we buy all these shoes, clothes, cars, jewelry.. have we earned it or are we just trying to maintain an image?

    To me the most important thing it teaches is that being educated is the key.. educated in our motives, in

    This book is not just about money. It's about how we are taught to think; how we are programmed by schools, family, and friends to look at the rich as greedy no good bloodsuckers and opportunities as risks. It is an attempt to reprogram minds to look at why we do what we do.. why do we buy all these shoes, clothes, cars, jewelry.. have we earned it or are we just trying to maintain an image?

    To me the most important thing it teaches is that being educated is the key.. educated in our motives, in money, in the world around us.. educated does not always mean a degree lessons can be learned anywhere at anytime..

    The book is great for people like me who think in pictures and in theory. He explains his financial theories clearly and adds diagrams to explain how money flows into and out of our wallets. I have read other financial self-help books and they were too detailed, too "do this...do that..." For me that didn't help or motivate me because, I don't do anything unless I want to do it. Other books never really gave me the why. They told me what I needed to correct.. but if I don't see anything wrong in what I am doing.. why should I take steps to correct it? This book broke down to me the whys. And now I am ready for action.

  • Troy

    I bought this book on the recommendation of a client, and from page one I was feeling uncomfortable with it. I pushed aside the part of my mind that was shouting "This guy is trashing highly educated people and the working poor!" and I was able to actually become enthusiastic about the message of the book.

    Here is the message of the book, and as far as I can tell, the only thing of value in its pages:

    * When you own something, it is either putting money into your pockets, or taking money out of

    I bought this book on the recommendation of a client, and from page one I was feeling uncomfortable with it. I pushed aside the part of my mind that was shouting "This guy is trashing highly educated people and the working poor!" and I was able to actually become enthusiastic about the message of the book.

    Here is the message of the book, and as far as I can tell, the only thing of value in its pages:

    * When you own something, it is either putting money into your pockets, or taking money out of your pockets. Owning a business or earning royalties creates income. Owning a house and a car incurs expenses.

    * Try to own things that put money in your pocket.

    * If you rely on earning a wage or salary to put money in your pocket, you will be forever caught up in the vicious cycle of needing money, earning money and spending money.

    There you go. That's the big message this book will impart to you, and it will do it slowly and repetitively in the first three chapters, leaving the remainder of the book for the author to drone on and on about how turned $60,000 into $80,000 without ever going into specifics.

    Early in the book the author lists royalties as a form of income. Later in the book he disparages a young writer who laments that she hasn't been "discovered" yet. He tells her to take courses in marketing, which horrifies her (as it would me). He goes on to explain that his best-selling books are best sellers because he knows how to market them.

    I then saw the $10+ I dropped on this book as just another dollar in his pocket. He writes about 200 pages of repetitive, non-specific advice with only one interesting message (see above), and people line up to throw money at him because of a compelling title and a tough-love story. Towards the end, I felt embarassed to be seen with this book in public, just like I'd feel for responding to a "get rich quick" spam mail.

  • Dan

    This book may do a good job of getting you excited about your financial future but the false information it teaches negates any benefits.

    I believe this book does a disservice to the public. I suspect it was written to appeal to those who are failing in the world's conventional definition of success.

    Saying that higher education isn't worthwh

    This book may do a good job of getting you excited about your financial future but the false information it teaches negates any benefits.

    I believe this book does a disservice to the public. I suspect it was written to appeal to those who are failing in the world's conventional definition of success.

    Saying that higher education isn't worthwhile is misleading. I agree it isn't essential (and possibly not even helpful in rare circumstances), but the high correlation in the general public between education and wealth cannot be ignored.

    He also gives poor advice in finances and investing. For example, not adhering to diversification. Or getting out of a stable job (a.k.a. "rat race") where "even if you win you're still a rat."

    The author praises learning correct accounting but then proceeds to butcher even the most fundamentals. For example, his first rule is "You must know the difference between an asset and a liability" but then he proceeds to claim that your home is a liability, not an asset. Completely backwards. Any accountant will tell you so.

    The book is full of exaggerated and sometimes completely false anecdotes -- for example, it appears the entire premise of the book is false -- there never was a rich dad and Robert wasn't wealthy until he embraced MLM and started selling get-rich books.

    If you just want some motivation, please try another book such as "

    ." If you want sound personal financial advice, please read "The Only Investment Guide You'll Ever Need."

    See

    for an in-depth critique of Kiyosaki and charts showing the correlation between education and wealth.

  • Mohammed Alsaleh

    الكتاب غني وثري .. ويحكي قصة كيوساكي الأمريكي من أصل ياباني .. حين تربى على يد أبيه الفقير وكان يتلقى منه الأوامر دوماً بالتعلم والتعلم فقط حتى يحصل على وظيفة بالكاد تسد رمق مصروفاته وأساسيات حياته .. بينما أبوه الغني " وهو أب لصديقه !" كان يعلمه كيف يدير المال الذي بين يديه ويجعله يعمل لأجله ..

    الكتاب .. شكل ثورة في عالم الكتب التي تحكي عن الثراء وكيفية الحصول على الاكتفاء بل ربما الغنى ..

    سأقول نقطة جلية ضرورية بعيدة كل البعد عن الكتاب ..

    أثناء قراءتي للكتاب والتي امتدت لأكثر من شهر .. كنتُ أتأمل

    الكتاب غني وثري .. ويحكي قصة كيوساكي الأمريكي من أصل ياباني .. حين تربى على يد أبيه الفقير وكان يتلقى منه الأوامر دوماً بالتعلم والتعلم فقط حتى يحصل على وظيفة بالكاد تسد رمق مصروفاته وأساسيات حياته .. بينما أبوه الغني " وهو أب لصديقه !" كان يعلمه كيف يدير المال الذي بين يديه ويجعله يعمل لأجله ..

    الكتاب .. شكل ثورة في عالم الكتب التي تحكي عن الثراء وكيفية الحصول على الاكتفاء بل ربما الغنى ..

    سأقول نقطة جلية ضرورية بعيدة كل البعد عن الكتاب ..

    أثناء قراءتي للكتاب والتي امتدت لأكثر من شهر .. كنتُ أتأمل وضع الفقراء والأغنياء .. وعرفتُ أن الغنى والفقر مكتوب على ابن آدم في بطن أمه .. كما أن مكتوب عليه عمله وأجله وشقي أو سعيد ..

    لكن .. هل يعني أن ما كتب لك يجعلك تثبط عن العمل والتعرف على طرق الثراء ؟

    لا .. وألف لا ..

    كون الصحابة حينما قالوا للنبي عليه الصلاة والسلام .. أفلا نتكل ؟ قال لا .. اعملوا فكل ميسر لما خلق له ..

    اعمل لتحصيل الثراء .. وإن كان ميسر لك أن تحصل عليه فسيكون ذلك .. وستجد أنك أصبحت من الأثرياء ..

    لكن أن تنام في بيتك .. وتهمل طرق الحصول على المال وتحصيله .. وتظن بأن السماء ستمطر دولارات أو أنك ستستيقظ في الصباح لتجد ملعقة من ذهب قد لقمت في فيك .. فهذا محال ..

    نعم ..!

    العمل .. مشروع كما هو العمل لأجل الآخرة ..

    في الكتاب .. يعملك نقطة جوهرية وأراها صلب الكتاب ومحوره .. أن الأصول هي التي تخدم الإنسان دائماً .. أما الخصوم فهي التي يظن الناس أنها تخدمهم وهي تضرهم ..

    فكرة الأصول والخصوم والإيرادات والمصروفات .. هي الفكرة الرئيسية للكتاب .. وسأشرحها لكم باختصار .. وأجعل بقية الوقت لكم لتهرعوا إلى المكتبة فتقرؤوا الكتاب بمزيد تمعن .. وتصبحوا بعد فترة من الزمان من الأغنياء فتدعوا لصاحبكم الفقير دلكم على الخير ...!

    إيرادات الإنسان .. هي ما يدخل في حساباته البنكية ..

    أما مصروفاته .. فهو ما ينفقه من مصروفات اعتيادية " أكل – شرب - مسكن – سيارة ..!"

    وبالنسبة للخصوم .. فهي ما يظن الإنسان أنها تفيده وتخدمه وهي بالأساس تضر به .. وهي البطاقات الائتمانية والقروض العقارية والسكنية ..

    أما الأصول .. فهي التي تدر على الإنسان دخلاً يضاف إلى خانة الإيرادات .. ولا تأخذ النفقات منها شيء ... وتتمثل بالأسهم " تدر أرباحاً " والسندات المالية والإيجارات ... وغيرها ..

    الفقراء .. تذهب كافة إيراداتهم إلى مصروفاتهم ونفقاتهم .. ولا يصفي لهم في النهاية شيء ..

    ذوو الطبقة الوسطى .. تذهب إيراداتهم إلى خانة الخصوم ليأخذ منها ما يشاء .. قبل أن تعود مرة أخرى إلى خانة المصروفات فلا يبقى في الجيب إلا النزر القليل ..

    أما الأثرياء .. فإنهم من لديهم أصول تدر عليهم لتغطي المصروفات وتزيد من الإيرادات ..!

    الأثرياء .. يحركون الأموال بزيادة الأصول لديهم .. أما الطبقة الوسطى والفقيرة .. فإنهم ينفقون ما يرد عليهم من أموال في خانة النفقات دون أن يستفيدوا منها ..

    أجعل لكم الفرصة لقراءة الكتاب ... وأتمنى لكم قراءة ممتعة ..


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