Rich Dad Poor Dad will….
Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. With perspectives that often contradict conventional wisdom, Robert has earned a reputation for straight talk, irreverence, and courage. He is regarded worldwide as a passionate advocate for financial education.
"The main reason people struggle financially is because they have spent years in school but learned nothing about money. The result is that people learn to work for money… but never learn to have money work for them."
Robert Kiyosaki Rich Dad Poor Dad – The #1 Personal Finance Book of All Time!
“Rich Dad Poor Dad is a starting point for anyone looking to gain control of their financial future.” (USA Today)
©2011 Robert T. Kiyosaki (P)2012 Brilliance Audio, Inc.
Number One Financial Book Series You Can Find
I have read all three books of the Rich Dad series & all three are must haves for anyone interested in all things finance. All three have straight forward information, inspiration & well laid out examples. This is NOT a "Do this, then that, now do this & NOW YOU'RE RICH!!!" kind of series. Expect to receive pertinent information along with the guidance & inspiration to becoming more financially intelligent & free.
After hearing this book spoken so highly of by sources i consider to be reputable and successful i was anxious to dive right into this one. `What i found was a book that changed my perspective on a number of things from building wealth to my work as an employee.
Where the book succeeds is in opening your eyes to new ways of looking at things. It does a really good job of illustrating a mindset that is needed to attain success beyond that of an average joe. That is as far as it goes though. If you are looking for a book that is going to lay out what you should be doing in your life objectively then this book is not what your looking for. The book focuses instead in molding the mind of the reader to better be able to figure these objectives out on their own, which frankly is what is needed anyway.
The one thing i found dangerous about the book is it is easy to misinterpret Kiyosaki at times during his examples. Throughout the book he will give examples or make analogies against certain conventions that most people follow. One example is where he bashes the idea of working for someone else and illustrates how one can make money for themselves in numerous ways. At the end of his rant he clarifies that he is NOT saying everyone should just quit their jobs, but to the excited listener desperate for change those clarifications get drowned out by the fantastical examples kiyosaki gives in which the key to attaining is quitting your job. Nevermind the fact that in order to build capitol which will enable you to take this step, a job is going to be your best venue. Its this jump to a fantastical view of things that bugs me and to the overly anxious reader can be dangerous.
That being said, If you can take some of these instances with a grain of salt then the book is absolutely an excellent read.
At 54, I followed the path of poor dad. Yes, I will be retirement eligible in about a year from my company of almost 30 years now but a late life divorce is going to force me to continue to work. If I had considered putting assets in my portfolio instead of mutual funds, I would have income generating potential. While I'm now looking for an investment, the best thing to come from this book is to share it with my 20 year old son in hope that he will start acquiring assets early in life since there will be no company pension. Trying to decide which will be the next book by this author that I will use.
I learned so much from this book, I'm glad the author decided to share his knowledge. It changed the way i view money and what i do with it. And i just finished listening.
"I'll be buying assets from here on!"
I really enjoyed this book. It teaches you the mentality that drives wealthy people and the core principles that made them rich. I am putting these principles into action.
"Motivational but thin on details."
This is a bit of a mix, really, and there are some issues.
It seems America-centric. A lot of the advice offered is not directly relevant to other countries because the laws are different. For example, in the UK it is not necessary to set up a corporation to claim business expenses offset against tax; you can instead set up as a sole trader or partnership.
It also does seem that Kiyosaki is cherry-picking when it comes to anecdotes offered. This may or may not be the case, but it is the feeling I get. He seems to go off on a rant when talking about an investment that increases in value by 16% year-on-year because he's been told by other people that the investment is "far too risky," but he does not explain the investment.
Nevertheless, some of the advice I do feel is sound. To own businesses (rather than taking time to run them yourself) and to learn to make good investment decisions and make them both seem good ideas from the point of view of the end goal of generating money without working for money. That's obviously the ticket to financial security which is what the book is really about. If you have a regular income and you don't have to "work" 40 hours a week to get it, that's the goal.
The problem for me with this book and many similar books is that it describes what has worked for Kiyosaki. Kiyosaki has a unique set of skills as has every other person. In his case it led to riches; in other people's cases that may not really apply.
This book encapsulates capitalism and for the most part whatever your philosophy, the advice is sound...at least from a 'Western' stance. Kiyosaki is clearly very passionate about the subject matter which adds an air of confidence and authority to his book. Some have criticised that the whole,'rich dad' thing is a fabrication...I would suggest that this is an irrelevance. Any successful entrepreneur will tell you that acting 'as if' is often a given. Kiyosaki can get carried away at times and make what I would say are ridiculous suggestions such as education being for mere fools......and this lets an otherwise excellent book down. At times, Kiyosaki apologises for being unfair...and then continues to be just that and there can be a two-faced element to his arguments as a consequence. Narration is always important with audiobooks and Wheeler's approach is impeccable. I'd encourage Kiyosaki to take some time out to embrace some more Eastern practices as money alone whilst important is ultimately a mere fabrication of mankind. Nevertheless a very enjoyable listen...if at times a tad trite.
"Inspiring, entertaining and insightful"
This book totally lived up to the hype. Inspiring stories and advice on all aspects of wealth creation as well as some nice spiritual observations.
"Fantastic book!! Very useful"
The narration of the book is really fantastic, Tim Wheeler has great voice.I also like different topics that are covered around this book. It gives an idea of how we can train our children about finance and also there is a lot adults can learn and think about the financial information provided in this book. Author has not only gave us thought process but also gave an idea of how to start with it. It changed my perspective of thinking towards money, rich people and managing our finances.
I haven't finished listening to this book yet and one of the reasons it's taking me a long time to get through is that it's read in a very monotonous tone, which makes the material feel more boring than it needs to.
But I also have problems with the content of the book, since the author spends so much time telling us to accumulate assets instead of liabilities, but doesn't really get down to the nuts and bolts of how to do that, which is frustrating.
"Lots and lots of waffle"
Essentially The book centres around about three simple concepts.
1) Rich buy assets and poor buy liabilities
2) Sacrifice today in terms of spending and build assets
3) Understand what others don't - I.e. Stocks and take risks to gather returns to re-invest
You really don't need to read the book as the finer points and the real detail are never explained. Who knew a house was a good investment?.......
I can see why people would perceive this book as a bible but it's more of a sign post to what you really need to be looking at.
"An enjoyable,outstanding eye opener !!"
I will 110% be listening to this audio book again as I feel that there was too much valuable information to take in all at once, next time I will be taking notes and using them to begin educating my own children. I listened to the whole book within 24hrs as I just wanted to know more and since finishing the book I have bought 3 more of Rich Dads audio books.
Tim Wheeler was a great candidate for Rich Dads audio books as he made the listening experience more pleasurable with his tone of voice and delivery of speech. He also has the ability to make you feel as though he is actually sitting beside you and talking to you personally.
It made me feel a little bit angry at times as I felt like the working class are actually kept in the dark about a lot of the topics spoke about in this audio book. It also aggravated me to think that my children are now also being "Trained" at school to become only suitable for employment. I have since been proactive about changing my children's course of education and also about they're financial way of thinking. A definite must have for any loving, caring parent.
For any one serious about opening there mind and changing the way they see things I would highly recommend. A small price to pay for potentially life changing information!!
Understanding the difference between 'classes' and assets/liabilities for me personally. I thought the whole book was good as an audio book.
An inspirational book. Recommend this book highly if you want to learn how to take control of your finances and make money work for you!!!
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