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Rich Dad Poor Dad [Kindle Edition]

Robert T. Kiyosaki
4.0 out of 5 stars  See all reviews (3,551 customer reviews)

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Book Description

Anyone stuck in the rat-race of living paycheck to paycheck, enslaved by the house mortgage and bills, will appreciate this breath of fresh air. Learn about the methods that have created more than a few millionaires. This is the first abridged miniature edition of Rich Dad Poor Dad. The full-length edition has sold millions as a New York Times bestseller. As proven by the runaway success of The Secret and like titles, changing one’s thinking to influence one’s fortune sells big, and forms the basis of rich dad’s advice. Learn to think like a rich dad and let your money work for you!


Editorial Reviews

Amazon.com Review

Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed. --Howard Rothman

From Library Journal

Reissuing a self-published best seller.
Copyright 1999 Reed Business Information, Inc.

Product Details

  • File Size: 1418 KB
  • Print Length: 207 pages
  • Publisher: Plata Publishing; 1 edition (April 25, 2011)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B004XZR63M
  • Text-to-Speech: Enabled
  • X-Ray:
  • Lending: Enabled
  • Amazon Best Sellers Rank: #2,226 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
593 of 612 people found the following review helpful
3.0 out of 5 stars Decent points from a self-promoter October 15, 2004
Format:Paperback
When he isn't engaged in his nearly incessant showboating, Kiyosaki actually gets down to some practical, all be it general, guidance on how to think about money:

* Probably the greatest insight is how to think about assets and liabilities. A million accountants scream in anguish, but a primary residence, with a large mortgage, high taxes and high fixed costs to top it off, is not an "asset" for Kiyosaki because it doesn't produce a positive cash flow. Instead, he lists several items, such as rental property, stocks, bonds, mutual funds, business partnerships with limited involvement, promissory notes and royalties (p. 89), that generate money and should be invested in.

* Don't get into large debt positions for non-necessities. Buy your luxury items for cash (p. 176). This is part of any sound financial planning and is taken to its logical endpoint by the authors of "The Millionaire Next Door."

* Watch out for the tax effect of your sales of real estate. In this sense, the book is out of date, since the tax laws were changed in the late 90s to permit up to $250,000 in capital gains ($500,000 for married couples) from the sale of a primary residence be exempt from federal tax, under certain circumstances. No longer must you rely on the 1031 "trading up" provision he describes, at least not exclusively.

* Fear can be utilized as a great motivator to act, as opposed to fear causing you to be a deer in the headlights of life.

However, before we all run off to leverage real estate to become gentlepeople of leisure, let's try to remember a few things.

* This book is written for one reason: to be earn the author money.
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3,719 of 4,088 people found the following review helpful
1.0 out of 5 stars Not worth the money or time October 15, 2000
Format:Paperback
I know this book was a best-seller and has a 4.5 star average on Amazon. This does not make it good, and I will explain why.
First, most people focus on his inspiration and pointing out that you need to save money instead of spending it. To put it bluntly, "Duh." To be more constructive, there are much better books on this subject - for instance, "Your Money or Your Life." It's easy to spout platitudes about why you should save, but Kiyosaki doesn't tell you how.
Second, his real estate advice. Kiyosaki emphasizes making money in real estate, since it seems clear that is how he made his fortune. But he does a terrible job explaining that as well. People have lost fortunes in real estate; Donald Trump went from being a billionaire to losing most of his empire. It isn't easy. Kiyosaki himself says that winners learn from their failures; where are his failures?
Perhaps he should refer people to other books about real estate, but one of the books he recommends was written by a man who had a half-million dollars in tax liens filed against him and declared bankruptcy - all before "Rich Dad" was written. That isn't exactly the kind of advice I was looking for!
Third, experts in the fields he talks about generally agree that his advice is bad. A review by an experienced real estate professional is here: [...] His advice on making money via IPOs is completely wrong; you can't invest that little money so close to the IPO filing for such a large discount. It just isn't done that way.
Fourth, his emphasis on making money. I like money, don't get me wrong. Like most people reading this review, I'd like to be a millionaire. But, I think, there is an underlying current of meanness in Kiyosaki's book.
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714 of 784 people found the following review helpful
5.0 out of 5 stars Great books RTK July 22, 2002
Format:Paperback
I just purchased Rich Dad, Poor Dad, Retire Young, Retire Rich and Rich Dad's guide to investing. I also have the tapes from RD, PD, CFQ, and RDGTI. These excellent programs by RTK have already made a profound change in my personal and financial life. They are a must for anyone who wants success.Two others are Millionaire Next Door and The Millionaire Mind.
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1,021 of 1,124 people found the following review helpful
1.0 out of 5 stars Inspiring to some, misleading and dangerous to most April 26, 2005
By Student
Format:Paperback
For the most part, it seems that people either love or hate the book and now having read it, I think I understand why. Most likely it seems that it depends on your personal situation and knowledge prior to reading the book.

I think that if you were someone who was just making ends meet, using all of your salary to support your lifestyle (in Kiyosakian parlance, buying "liabilities") and doing little to save and invest (buying "assets"), I can see that this book might serve as a wake up call and can inspire and motivate people to look for ways to possibly change their situation. Furthermore, the book's various claims, (however misleading or unrealistic as I point out below) plays right into such people's desires to learn the "secret of success" of the rich that if only they knew, they could quit (or abandon their plans) to go to school, quit their jobs and just invest and live off of investments the rest of their lives without working.

OTOH, if like many of us, you were making a good salary WORKING but spending responsibly (i.e. limiting "liabilities) and meanwhile trying to invest aggressively as much as we know how to do based on our unique circumstances and preferences (buying "assets"), the book really provides no substance and stretches credibility. For us, you don't need inspiration and what specific info the book provides is either dated, incorrect, or misleading. Also for many of us, we didn't read it realizing ahead of time that it was entirely a motivational book rather than a "methods" book since the title alludes to "methods" that that rich possess that we of humbler backgrounds lack.

This book makes fantastic claims.
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Most Recent Customer Reviews
5.0 out of 5 stars Five Stars
great read teaches me things that my poor parents never thought me
Published 3 hours ago by Forbessoccer
4.0 out of 5 stars Interesting perspective on what real assets are
The first chapters are the most rewarding to read as they convey the core message - to understand the difference between assets and liabilities in the context of building wealth. Read more
Published 1 day ago by betn
5.0 out of 5 stars Five Stars
The basics of Robert Kiyosaki's financial understanding presented in a very accessible format.
Published 1 day ago by Z. Simon
5.0 out of 5 stars Five Stars
Great book!
Published 1 day ago by Eugene Lee
5.0 out of 5 stars Great book, Worth the price
Lots of knowledge and insight Robert gives you in this book. I'm excited to learn more about how to take control of my financial life.
Published 1 day ago by nickjonesthrows
4.0 out of 5 stars ... a message to young kids that studies are no good and demotivates...
Only flip side is that the author is giving a message to young kids that studies are no good and demotivates young minds
Published 1 day ago by Ashsad
5.0 out of 5 stars Changes your mindset about money.
This book has shown me how to think differently about money, invaluable.
Published 1 day ago by Matt
5.0 out of 5 stars Very useful :)
Great book. Def recommend it to everyone and anyone who's serious about starting their financial futures. Read more
Published 1 day ago by Jack The Dreamer
3.0 out of 5 stars Three Stars
boring
Published 1 day ago by Imoji
5.0 out of 5 stars CJ
Truely an inspirational read! I wish I would have read it ten years ago. Guess Robert is right? Trust me, he is correct. A must read for every person on this planet!
Published 2 days ago by Cynthia J.
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