 | Price Comparisons: Used Only | | Sorry, the textbook you were looking for is not available as Used Only, at any of the stores we searched. | Price Comparisons: Rental | | Sorry, the textbook you were looking for is not available as Rental, at any of the stores we searched. | Summaries and Customer Reviews are supplied by Amazon.com | Personal finance author and lecturer Robert T. Kiyosaki developed his unique economic perspective from two very different influences - his two fathers. This text lays out Kiyosaki's philosophy and his relationship with money. |
Average Customer Rating:    The Kool-aid is to your left. There are a lot of fanatically supportive readers of this book. I for one am dubious. How many of them are millionaires? Is having a lot of money going to make you happy? I'm happy and I'm NOT rich. I can't tell you if you'll get rich reading ANY R.K book, but I can tell you one thing. I'd be hundreds of dollars richer if I left the room any time this man's name was mentioned. I would spit on Rich dad. But he isn't real. I may go to my local library and destroy his book. Many reviewers said this book mande them think. If that's what you want to do, read Mein Kampf. Like RDPD in that it's sort of internally consistent, nonsensical and completely insane.
It's Amway people. It's all Amway.
Here's my advice for getting rich. Save money. When the economy tanks, buy all the undervalued stock you can. Wait until the economy turns around and sell. I've made between 2 and 10 times my money back, depending on the stock.
Another piece of advice. Don't listen to any financial advisors on when to buy or sell. They've got a lot of great information on how a company is doing but that doesn't mean they know what you should do. A lot of people lost a lot of money listening to Jim Cramer. I made some money doing the opposite.
Maybe it's time to take a look at yourself. Why are you so fixated on getting rich? Do you think your life will be so much better? All of the best things that have happened to me would have happened regardless of my financial situation. Conversely, we will all die one day. On that day we will all have a chance to look back at our lives and with some regrets I'm sure. Don't die thinking that you should have paid more attention to your family than the mad scribblings of a faux-wealty Hawaiian. It worked for me and continues to work in various countries Although the stories in the book may not be completely true, the book is effective in illustrating Kiyosaki's wealth strategies. Over the past decade, I have implemented his strategies throughout Canada and now in Australia. The importance of positive cashflow and building wealth in the appropriate quadrants builds wealth more effectively than saving money alone.
This book along with others provided me a solid foundation to start my real estate portfolio and other investments. A good book! I thought this was very informative. Kiyosaki does a great job of proving the need to be "financially literate", and gave good examples on how to do so without pushing his own addenda. I felt he gave me enough room to think on my own. Schools should include this book... mandatory! From now on my mentors are going to be only the people who have been successful in whatever I am undertaking. I choose not to listen to another cynic! I read this book in one day. The points it makes, make logical sense without all the usual bull you have to get through in other self-help books. Very well written, with great examples. Once you start you dont want to put the book down. It gives you a new way to look at things. Very thought provoking. This should be taught in our school system, along with the basics.
These study edition books (including a DVD Title) will definitely complement Kiyosaki:
Think And Grow Rich: The Personal Study Edition
The Master Key System: The Personal Study Edition
Path To Prosperity - Mastery Of Destiny - Acres Of Diamonds: The Personal Study Edition
The Science of Getting Rich: The Movie - 2 Disk Set Work Hard and be Poor or Have Fun and be Rich! The book this week was Rich Dad Poor Dad by Robert Kiyosaki. Amazing book. Kiyosaki's title comes from his upbringing. He had his biological father, a PhD educated professor, and his best friend's father, a serial entrepreneur. The first dad was the poor dad and the second was the rich. His poor father told him to work hard and get a good education and he would get a good job to take care of him. His rich father told him to go against the norms of society and gain financial independence.
The first step to gaining your financial independence is learning how to apply accounting concepts to your personal life. It's real simple and Kiyosaki says the reason most adults don't catch on is because it's too simple. But the trick is all about cashflow. You have to make sure your assets are greater than your expenses. The hardest part about this is determining what an asset is. An asset is anything that is going to perpetually give you income: stocks, bonds, notes, some real estate, etc. Most people don't worry about making the assets greater than their expenses and for those people... it doesn't matter how much money you give them, they will always be in over their head just scratching to pay off bills. Kiyosaki's poor father was making a great salary, but he didn't know how to regulate his cashflow so he was always over his head.
One issue in the book, which is brought up quite often, is that going to school and getting a good education is not enough to get everything you want. If you go to school, pass you classes with straight As and get into a high paying job... The government is still going to reach into your check before you can even spend a cent and tax you 40-50%. That means that you work your new job out of school and the first 4 to 5 months you are working goes straight to the government. Doesn't seem fair.
On the other hand, Kiyosaki points out what the rich do. They use corporations to protect their money from the government. A loop hole that politicians put into the books to help themselves (the rich). You see, when you have a corporation you don't get taxed until after you have spent all your money. That means that instead of the average American who is getting paid $30,000 a year, who gets 40% taken right off the top, who can spend $18,000 on their needs and wants. A corporation that makes $30,000 a year and can spend as much of that $30,000 on company cars, dinners with clients, company housing and then gets taxed on what is left after those purchases. Sounds a lot better... and anyone can start a corporation.
Kiyosaki was taught at a early age how to play the game by his rich dad. When he grew up he worked at a job just like everyone else, at Xerox. While he was at Xerox he started a Real Estate Holding Company and while he worked his day-job he flipped houses on the side. He had the best of both worlds. So in case you were wondering, you don't have to quit your day-job to be an entrepreneur.
You may call me naive, but I honestly do think that every single person has what it takes to be a millionaire. They just let fear and cynicism control them. They fear losing their money and they are a cynic of anyone that is trying to do something great... "That will never work"... I cringe at these words and I have done my best to avoid people that spout these words because in the words of Miguel de Cervantes Saavedra "Tell me what company you keep and I'll tell you what you are."
I do think you can do it. And I think if you are willing to put yourself out there, your million dollar dream is not far away. Read this book, it's an eye opener. If you have any questions on the book don't hesitate to ask me a question. I would be more than happy to help anyone that needs it.
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