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Rich Dad Poor Dad: What The Rich Teach Their Kids About Money - That The Poor And Middle Class Do Not!

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Most Helpful Favorable Review

18 out of 20 people found this review helpful.

Monetary success is within your reach

Rich Dad, Poor Dad explains the differences and distinctions between how the rich class, and the poor and middle classes manage their money. The author differentiate throughout the entire book explaining how his best friends dad, the "Rich Dad" was so successful. One of...
Rich Dad, Poor Dad explains the differences and distinctions between how the rich class, and the poor and middle classes manage their money. The author differentiate throughout the entire book explaining how his best friends dad, the "Rich Dad" was so successful. One of the main significances that were emphasized was "working hard" was different from "working and spending smart". For example, you can be the hardest worker in the building, but, if you are not smart on managing your money, you can have nothing to show for it. The Poor Dad is considered to be more government based, relying on other people to make monetary decisions, especially when it concerns taxes. The Rich Dad in more corporation based, being more proactive and finding ways to keep more of the money earned. This book explained economics in a way that was realistic and encouraging. The fact the author explained it in a way that anyone can follow his methods and be successful. It was able to keep my interest from the beginning to the end. It gave real world examples of how to manage my money and make smart investments to build my asset column. Before reading this book I had no knowledge or interest in starting to build an assets column at my age. This book gave me an understanding on what exactly determined an asset and how to start building a portfolio that could benefit me now and in the future. It is never too early to start. The most helpful thing that I gained from this book was to look at things as; a want versus a need. I realize that I have more wants than needs. Reading this book as a teenager has pointed me in the right direction of knowing what determines an asset and what determines a liability.

posted by 1143302 on March 23, 2009

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Most Helpful Critical Review

10 out of 11 people found this review helpful.

It depends on who you are...

Robert Kiyosaki has lived with two dads. The poor dad, who was his biological father, went to the ivy league schools and received a doctorate degree, however, always ended up financially poor. The rich dad, was his friend's father, who only received education up to 8th ...
Robert Kiyosaki has lived with two dads. The poor dad, who was his biological father, went to the ivy league schools and received a doctorate degree, however, always ended up financially poor. The rich dad, was his friend's father, who only received education up to 8th grade, understood how to invest in money. He explains that it's all in the mental process. For instance, if job wages are low the common thought is--"I can't afford it" or "how can I afford it?" The poor dad would say he can't afford it, automatically shutting down his brain and accepting the state that he's in to save money. On the other hand, the rich dad tries to figure out a way to make more money and not dwell on the fact that the wages are small. This theme of differences in principals and financial methods is what continues on throughout the book. The common problem is that people in school are not taught about money. The average dad, also the poor dad, tells their children to work hard in school and get a steady job in a good company. In other words, he believes in the traditional ideas of working hard, preserving money, and not wasting it on material things, especially things he can't afford. The situation is that the poor dad was always more focused on education, rather than money, and commonly thinks "money doesn't matter". The poor dad also dwells on company insurance, security, and salary raises, instead of actually focusing on the job itself. This is what the rich dad calls the "Rat Race" in which one can never leave this cycle of being poor with this mindset. The rich dad did not spend time for education, but instead invested it on investing. The rich dad is seen as someone who learned to take risks, instead of not taking them, and by doing so, was able to have money work for him, instead of him work for money. I was shocked as to how much I was able to see these common thoughts portray in my life, and that my father fits perfectly under the category of a poor dad-- a common teacher, who loves to learn more but doesn't really like to focus on money, and constantly exclaims around the house, "we can't afford that". He also always focuses on insurance of our house, or our social security, or saving money. However, I may not live the glamorous life of having a rich father, I appreciate the rich life I live with his knowledge and determination to work hard, even if it still means to financially struggle with money. I am skeptical about not having an education, in the means to be able to become a rich dad, because I feel that without a root of knowledge then money takes over a family and have no real value. However, constantly dwelling on low wages, or in other words, to not be a pessimist, can always be a goal that families try to achieve. In the end, I found this to be book to be informative and maybe even life changing, but at the same time very unethical.

posted by Poordadrichlife on October 30, 2011

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  • Posted December 2, 2008

    This Book is good for those who don't know anything about economics.

    This whole book goes on about cash flow charts and how one should save money to put in assets rather than vacations and fancy cars. I swear, that you will learn absolutely nothing if you are over 18. Practically everybody on earth knows what investments are, and are informed enough to save some sort of money for these investments. This book main teachings are to "buy assets", and to tell you the truth, it works, (I am not sure if this is true with our second great depression about to happen), but overall it is true. Yes Mr. Kiyosaki, i will buy assets, you don't have to write a book on something so obvious in Which can also be stated in one sentence. <BR/><BR/>Here"s the book in a nutshell<BR/><BR/>"don't spend any extra money on fun, clothes, and cars, instead use that money to make investments to create money."<BR/><BR/>Instead of buying this book, buy assets!<BR/><BR/>-ryan

    3 out of 12 people found this review helpful.

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  • Anonymous

    Posted May 1, 2008

    Not What I Expected

    After dozens of people praising this book I was left with the impression that this was a must read. However once I began reading I felt like tje book was a big letdown. The book does not teach anything, but rather is a man's accoubt on what why he believes the rich are rich and the poor are poor. The author goes on talking about how he has a so called poor dad who in reality most of the population would consider rich. Among that his so called advice is useless to poor people because in order to become rich you have to have some money to work with. In fact I felt the book just taught the rich how to become richer and left the poor clueless. All in all I would not recommend this book to anyone, the title is misleading and the context of the book is meaningless.

    2 out of 5 people found this review helpful.

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  • Anonymous

    Posted October 14, 2013

    Robert T. Kiyosaki is a very opinionated writer, and it is very

    Robert T. Kiyosaki is a very opinionated writer, and it is very clear that in his book everything that he is saying is the best way possible
    to do things. He has an ora about him that makes him seem superior to everyone and everything else. Almost like his advice and 
    teachings that he has learned over time is the ONLY option to become wealthier. While I was able to learn a great about about different
    financial terms and phrases, it was difficult to take it in because of the way he chose to convey his message.

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  • Anonymous

    Posted February 28, 2013

    It depends on your situation and wisdom

    Don't take this book advises too seriously. Read other books that are deeper in finacial stuffs. An uncle of mine who didnt know so much about finances and followed what this book said, lost a lot of money at the end.

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  • Posted July 6, 2010

    Somewhat fictional accounts

    I must admit that I was a bit memorized at first by Kiyosaki's writing. The fact that *I* could get rich if I only tried hard enough sounds great. While I can certainly understand why assets are better than liabilities, his whole investment scenario seems way too over simplified and cliche.

    The thing that really threw me was at the end of the book, there is a pitch to buy Kiyosaki's $195 board game. He essentially argues that you would be foolish to not spend the money on this board game. $195 for a board game?

    After doing a little bit of research on the web, there's a lot of criticism of Kiyosaki for having developed a cult of personality and highly exaggerating the truth about his investments/wealth. He is quite defensive at some parts of the book about his strategy, which seems suspect as well.

    While I do believe that his recommendations for people to learn skills in accounting and investing are important, I think you would be wise to just read a technical book about investing straight away. There's not much detail here that's worth reading.

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  • Anonymous

    Posted October 9, 2007

    I had high hopes!

    From all the hype about this book I thought it was going to be great. This book has no specific ideas how to help the average Joe or anyone for that matter.

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  • Anonymous

    Posted November 25, 2006

    Not the best I've ever read.

    This book promised a lot and delivered a little. It's mainly a summary of the author's life growing up in Hawaaii. It basicly tries to teach you that you need to be innovative with your money which isn't exactly a problem with people who are involved enough to read a financial book. I'd look elsewhere for factual information about investing and the market.

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  • Anonymous

    Posted July 11, 2005

    Not deep enough

    This book was very basic. Any person with knowledge of money or business will be bored. I was dissappointed and only took away a few good points. IF you are a beginner with no knowledge of money or finances, begin here. Otherwise, don't waste your time.

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  • Anonymous

    Posted February 16, 2004

    Lots of repetition

    He keeps on repeating the same thing: If you work for somebody else you stay poor, if you have people working for you you become rich. Eventually you have read it so often that you believe it. Just like a really obtrusive salesperson. The book could be shortened to half its length and would still bring the few messages it contains across. Summary: Save, invest, don't consume, avoid taxable income, start a company.

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  • Anonymous

    Posted August 14, 2003

    A very mixed bag

    This book has some sound advice. Most importantly, it stresses the importance of getting the money you earn to work for you, rather than spending it. Unfortunately, the author loses credibility by making lots of mistakes. For example, in the chapter 'The History of Taxes and the Power of Corporations' he states that 'A corporation can do so many things that an individual cannot. Like pay for expenses before it pays taxes.' Deducting business expenses has nothing to do with corporate status. Actually, using a C-Corp, rather than an LLP, LLC, or S-Corp will often result in much higher taxation. Remember the political debate about double taxation? While there is some good advice, The Millionaire Next Door and The Millionaire Mind more accurate and less gimicky.

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  • Anonymous

    Posted September 3, 2003

    Dad was lucky but not financially savvy

    Being a CPA, and japanese-american I read this book eagerly but found the financial examples and information way out in left field. There are a lot of good thoughts in this book. A lot more financial advise that I would recommend readers bypass. It embarassing to my profession that a CPA co-authored such a book.

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  • Anonymous

    Posted December 8, 2001

    Little information, mediocre writing

    This is may be good if and only if you are looking for what Kiyosaki has to offer: repitition, stories, and, well, I can't think of anything else.

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  • Anonymous

    Posted December 1, 2001

    This is one long Infomercial

    This book is essentially one long infomercial, designed to promote Kiyosaki and his educational products. The book is heavy on sensationalism, virtually devoid of clear, solid advice, and peppered with just enough interesting anecdotes to keep one from heading for the refund line. For example, In one of the last chapters Mr. Kiyosaki claims to teach one how to pay for your child's college education with just $7,000. His solution (as achieved by a friend of his): buy a house at the bottom of the market, sell near the top, reinvest in commercial real estate at the bottom, sell at the top. We have heard enough of these 'bought Yahoo at $1 sold at $100 stories,' they teach you nothing! The book is written in a rambling fashion, and is full of contradictory twists. For example, Kiyosaki spends whole chapters belittling conventional retirement plans and conventional wisdom of staying with one company and rising through the ranks, and then mentions in passing that he did know of one person who stayed with the same company for 25 years and accunulated $4 million in his 401k. He makes his own life and that of his rich dad seem totally care free, and yet he points out in the very beginning that he and his friend Mike had to make an appointment just to see their 'rich dad' when they were little boys! Cutting through the sensationalism, what this book really says is that you need to know what you are doing in life, and you need to work hard at whatever you do... Pretty basic, huh?

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  • Anonymous

    Posted May 16, 2001

    Vindicating but Repetitive

    While Kiyosaki's premise for the book is quite vindicating, especially concerning the state of American secondary education as it deals (or does not deal) with finance, his points concerning 'financial intelligence' very quickly become repetitive. The first one-third of the book is recommended for its content, however, afterward it seems to become an infomercial for his Cashflow board game series. This book could easily have been condensed into twenty pages.

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    Posted April 23, 2009

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    Posted July 8, 2010

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    Posted January 16, 2011

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    Posted April 21, 2011

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    Posted April 30, 2010

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    Posted March 4, 2010

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