Rich Dad Poor Dad

What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not!

By: Robert T. Kiyosaki

Narrated by: Tim Wheeler

Length: 6 hrs and 9 mins

Publisher's Summary

Rich Dad Poor Dad is the #1 personal finance book of all time. Listen today to set yourself up for a wealthy, happy future.

Robert Kiyosaki’s easy tips and straight talk will…

• Explode the myth that you need to earn a high income to become rich
• Challenge the belief that your house is an asset
• Define once and for all an asset and a liability
• Show parents why they can’t rely on the school system to educate kids about money
• Clearly lay out what to teach kids about money for their future financial success

With an incredible number of 5-star reviews, Rich Dad Poor Dad has challenged and changed the way tens of millions of people around the world think about money. With perspectives that often contradict conventional wisdom, Kiyosaki has earned a reputation for irreverence and courage. He is regarded worldwide as a passionate advocate for financial education. His easy-to-understand audiobook empowers you to make changes now - and enjoy the results for years to come.

"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 by CASHFLOW Technologies, Inc. (P)2012 Brilliance Audio, all rights reserved.

Wow. This book is one big bad advice

The only good advice here is that you should work on your financial education. Which is common sense

Financial "Guru" that Constantly Goes Broke

1) Robert Kiyosaki's various "companies" have filed for bankruptcy several times and ,most recently, in 2020. He promotes unethical and unsustainable practices that essentially drain his companies bone dry.For some one who is a "money god," this is about as evident a red flag as a surgeon who asks where the appendix is located. I sure as hell am not listening to a litteral fucking hypocrite.

2) Dudes only claim to fame/welath is this book (made to sell his board game, above all else, in 1997). Only good takeaway from reading are about investing in assets, not liabilities, but that is litteraly one of the first concepts taught in finance 101 or 110&. Dude claims the board game (a litteral peice of card board) is more valuable then a four year degree, which screams of a snake oil salesmen trying to exploit the uneducated with hopes of wealth. Essentially, this book "bestows revolutionary knowledge" that is bare bones knowledge to anyone with a business diploma.

Oh, wait, I forgot he didn't have one. Robert Kiyosaki preaches anti-intullectualism because his poor phD daddy got broke from bad persoanal behavior. Seemingly, his father's failings as a person seemed to engrave a vendetta against academia itself. But, understanding that RV trailer residents aren't billionaires, he substitute schooling with "street smarts," because "street smarts" is where the money is made. I guess he doesn't mention how "street smarts" can be learned in a matter of minutes. Mabey that's why he litereraly built an entire buisness out of seminars and lectures in a collegiate style fashion (RichLLC), so he could hold people for longer and charge them more for his "precious time." Guess those street smarts didn't sell enough velcro wallets (previous company) or board games (RichLLC).


If you see this guy on YouTube, stay clear. He mostly earns money by pretending to be wealthy online and catfishing the susceptible. Most likely, he will even tell you to get "read" this book, so he can keep pocketing that sweet, sweet, poorly written, and vauge royalty money.

Fiction

This book is a great motivational fictional story. There is nothing useful for real life and I believe some advices are pretty much illegal.

DONT BUY

The narrator is disgusting. I couldn’t even sit through five minutes of this book because you can hear him breathing very loudly, licking his lips, and other gross noises the entire time....

great book but....

The book itself is worth the buy and then some, the only reason I found it hard to finish was one thing that the narrator did. Constantly having to hear him have to "wet his lips" is irritating to the listener, especially when using headphones while listening. It's not normally a big deal unless it's something you have to hear every other sentence.

Inspirational and impractical

This book helped get my head back on track in terms of my approach to personal finance. The advice and personal accounts of his own rise to wealth are impractical though. He makes it sound like buying then selling real estate at a substantial profit is a matter of course for the average person. He also advocates tax lien certificates (as described in The 16% Solution) as a more profitable way to save cash at high interest rate securely. Whether or not that's true probably depends on a lot of factors but all of his advice is very high touch in terms of effort for the investor. Listen to the book for the inspiration but be wary of the advice.

Outdated and ironic

I had read the paper version of this book in 2011 while attending grad school. Having little to no financial literacy at the time, the concepts were foreign but digestible. I would like to think that I took away some of the author’s broad themes after I completed the book.

Desiring an easy ‘filler’ book between two others, I recently returned to the audiobook version for a catch-up. One of the first things I noticed these six years later was that several of the anecdotes were outdated or misleading. Specifically, the continued referral to Donald Trump’s financial abilities. Now I’m not pretending to know everything there is to know about Trump’s financial status, but I thought he bankrupted his companies?

Which brings me to my last thought of irony. After finishing the audiobook this time around, I read a few articles online informing me that Kiyosaki (his company) has recently declared bankruptcy as well. Additionally, several countries have him and his business under intense scrutiny for fraud and scams. Again, I don’t know all the facts (and you should do your own research to build your own case) but I do find it somewhat worrisome that an author who’s trying to aid in financial intelligence and give us tools to increase our cash flow is himself in hot water financially and morally.

At the end of the day, it’s your time and money; do what you want with them. For me, I won’t be recommending this book again. I believe Kiyosaki’s time has past.

This book will re shape your finance mind

This book will reshape how you think about money. It will truly show you what you have been doing wrong since you were a kid, what you were not taught and should have been taught when you were growing up. I wish I had some of the advice this book offers a few years back when I was younger it would have made a world of difference by now. It's never too late to learn though. Read this and act. Don't let the common emotions of the (chicken litttles) in this world steer you away from becoming a business owner or an investor. It's your freedom on the line and no one else's.

Thank you Robert God bless

simplistic and self satisfied

What would have made Rich Dad Poor Dad better?

more research and less boasting; more solid information not just anecdotes

Has Rich Dad Poor Dad turned you off from other books in this genre?

this author

You didn’t love this book... but did it have any redeeming qualities?

basic points are good but never elaborated upon

READER NEEDS MORE TRAINING!!!

Would you listen to Rich Dad Poor Dad again? Why?

The book is very good!. The reader, Tim Wheeler, has not received proper breathing instruction to narrate a book. Some people don't breath while they speak. This is not a healthy habit. It is distracting to listen to a book where the reader holds his breath and gasps between pauses. It actully interrupts my breathing while listening to him.!!!

Moderately Motivational

So I finally caved and got this book... somewhat useful for motivational purposes I suppose, though don’t expect any revelations.. I agree with some points and disagree with others. If you truly have no concept of personal cash flow then it’s a good place to start!

vague

too many vagueries and not enough specific plans of action. Whilst the principles are somewhat useful, these are meaningless without specific details on how to execute.

A very thought provoking insight

This book surprised me on how well it went through the mechanics of what makes someone rich vs someone who is wealthy.

I am from the convential educational system, and over the last 15 years or so I have experienced exactly the symptoms of the new wealthy middle class as depicted in this book - study damn hard, work extra hard and you will succeed. 30 years later only find the mill needs more energy and I am shutting down, very little to show for it, lots of hours spent but 60% of my wealth in others pockets!

This is a must read for all, especially parents in the west.

From an Economics Major, Accountant

Almost.....

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.

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.

Badly read

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.

about 10% of this book is useful

the other 90% is either an advert, untrue, or illegal also a real issue of this book is that it completely lacks the context in which markets operate and in which real money is made

Terrible, sometimes illegal, financial advice.

I feel more financially illiterate after listening to this book.
Before you consider buying it, do a bit of research about the author and fake claims he makes about his own wealth, and why this book won't reach any concrete applicable skills.

The dubious virtues of capitalism

What could have made this a 4 or 5-star listening experience for you?

This book seems to mostly be a hatched job of socialism parading as a fair and balanced viewpoint. The author seems sincere in his belief that a socialist philosophy is just an economic stupidity, and then goes on to extol the apparently endless virtues of what is, at heart, some fairly straightforward capitalist dogma.

While from an individual's point of view, the advice given seems likely to achieve the end goal of making the individual using it richer - at least a little - there seem to be quite a few pretty critical issues entirely overlooked.

The first is ethics. This question isn't even passed over lightly, it's completely absent from the book. The author wants you to think about how to get rich - full stop. He clearly feels enough guilt over his strategies to offer the platitude that poor people are really responsible for their own problems, and if only they'd change how they think about the world, they too could be rich. In so doing, he lays the challenges and problems of the poor and middle classes at their own feet. He explains, at some length, that taxation is bad and implies that people who pay taxes are stupid, and helpfully elucidates that America and the UK were both countries that had no taxes at one point, but fails to mention that the effect of tax was, in part, to make the countries the global powers that they became by allowing them to invest in projects that no individual could manage alone. Not that tax is bad, though, we're assured - just that smart people don't pay it.

Yes, fine. It's possible to evade taxes - rich people do it all the time. That doesn't make it an ethical thing to do - just a selfish and short-sighted one. Even the rich enjoy having public services such as a police force, army and roads. Boasting about not contributing to things we literally all need seems to be the exact thing the author subtly calls the rest of us who do - terminally short sighted and stupid.

Moving on. The second major problem is that the strategies presented would literally fail if more than a tiny minority of people adopted them. In a world full exlusively of investors, ironically no one makes and bread. The behaviours suggested in this book are fundamentally parasitic in nature - you leverage other people's hard work to make yourself rich at their expense. Smart, but very destructive to society as a whole. Still, the book will absolutely help you get rich enough to stop caring if the whole system crumbles.

Third, this is a book of it's time, and will age less and less favourably as time goes on. With radical changes coming more and more rapidly, the approach advocated by this book is going to become less and less relevant. Hard times ahead - except for the people who already have pretty much everything. If that's you, congrats. If not - you're screwed in the long run, even if you take all the advice in the book.

I'm sure the author would tell me that I'm my own worst enemy, though, because in spite of his efforts to be 'neutral' and 'balanced' in how he presents things, his own viewpoint is fundamentally that of a pretty greedy man of slightly better than mediocre intelligence.

disappointing and condescending

couldn't even finish this. I kept rolling my eyes at his view on money and happiness. he is what's wrong with the world. Basically he goes by, everyone has their place and the working class deserve to be kept at a just getting by rate. 🙄