Ebook Free Rich Dad Poor Dad, by Robert T Kiyosaki
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Rich Dad Poor Dad, by Robert T Kiyosaki
Ebook Free Rich Dad Poor Dad, by Robert T Kiyosaki
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- Sales Rank: #6611261 in Books
- Published on: 2005
- Binding: Paperback
Most helpful customer reviews
200 of 217 people found the following review helpful.
Convincing, but ultimately a sham
By Sarah Johnson
TL;DR: Read this website: http://www.johntreed.com/Kiyosaki.html and you will see why Robert Kiyosaki is not a good resource on personal wealth management. This whole "Rich Dad Poor Dad" debacle is, however, a great lesson in detecting garbage advice-giving companies that are only out for their own self-interests.
I think it should be concerning to potential buyers that most of the recent 5-star reviews are overly short, vague, and look likely to have been solicited to artificially improve this book's rating. I have no proof of this, but it is suspicious.
In any event, I can see why people are drawn into this book and the Rich Dad company that Robert Kiyosaki has built for himself. I consider myself financially savvy, and even I found myself drawn into his works. The general ideas sounded great, and lined up nicely with what I have been learning over the years in teaching myself how to manage my money. Additionally, the whole book is given a great big vote of confidence by "rich dad," Kiyosaki's personal financial advisor and super-successful father to his childhood friend.
The problem is, there is no rich dad. Everything about how Kiyosaki had this childhood mentor who taught him all these great life lessons about personal wealth is a work of fantasy. Here is an exact quote from Kiyosaki himself when pressed by SmartMoney Magazine about who rich dad really was: "Is Harry Potter real? Why don’t you let Rich Dad be a myth, like Harry Potter?" He boasts of several major real estate flips of which there are no public records. He also claims to buy the majority of small companies right before their share price sky rockets, then makes big money on the proceeds. Except, anyone that owns more than 5% of any publicly traded company is required to report the sale to the SEC. Kiyosaki's name is not on any of these reports. There is also a large pile of evidence that Kiyosaki became wealthy only after this book and his subsequent line of financial-advice products became best-sellers. To be sure, that is one way to get rich, but it is notably absent from the rest of his "profound" advice.
Admittedly, he does have some good points. Ones that I personally think are worth remembering for anyone trying to build their personal wealth are: Learn how to make your money work for you through wise investments, understand your tax obligations and ways to (legally!) reduce your tax liability, failure is all part of the process, and school (and a sad number of parents) will leave you woefully unprepared to manage your personal finances so you'll have to learn about this area of your life on your own. That last sentence is pretty much all that can be gleaned from this book, and all of it you'd probably figure out on your own anyway.
Long story short, please read this website: http://www.johntreed.com/Kiyosaki.html before you buy into his empire. There are much better resources on Amazon and elsewhere that can teach you about money management from authors that actually built their wealth instead of selling you a bunch of false promises.
2 of 2 people found the following review helpful.
great book
By Edward Grey
This book really helped me think and focus. If you looking for specifics or details on how to make money look somewhere else. If you are looking for a mindset and some good basic principals to follow this is your book. If I had to break the book down the main point is that you need to get an financial education on how money works and how to invest. His basic principal is to invest and use the return on your investments as income rather than working. Again, no details, just basic principals. This book was easy to read and is written in a more storytelling format rather than facts and data.
Over all I would recommend this book
2 of 2 people found the following review helpful.
Only okay.
By Amazon Customer
The book is okay but is not always general enough to apply to everyone. Some of the principles are universal (e.g. making your money work for you) but the author implies that working at a job for someone else is inferior to running your own business, owning real estate, etc. The author does a good job of telling you how HE got rich (through real estate) but does not necessarily offer alternatives. I did like the contrasting advice of the two dads.
My personal favorite finance books are The Wealthy Barber and the Millionaire Next Door.
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