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Rich Dad Poor Dad [Kindle Edition]

Robert T. Kiyosaki
4.0 out of 5 stars  See all reviews (3,500 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 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
573 of 589 people found the following review helpful
3.0 out of 5 stars Decent points from a self-promoter October 15, 2004
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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3,705 of 4,071 people found the following review helpful
1.0 out of 5 stars Not worth the money or time October 15, 2000
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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156 of 167 people found the following review helpful
5.0 out of 5 stars The Freeway to financial freedom March 1, 2004
It's about time that someone with mega credibility like Robert Kiyosaki explodes the myth of a college education. I have many friends who spent thousands on a college education only to spend thousands more and then thousands more and today are poounding the pavement trying to find a job just like the one they just got downsized from.
I also know many people who have lost their homes to foreclosure and therefore their life savings because they were dupted into thinking that a home was a "asset."
Kiyosaki's advice is right on. He is telling it like it is. It may not be what you want to hear and it may be opposed to what you were taught by early mentors, but let me ask you a question; how are those mentors doing?
Let me ask you another question: have you ever been mentored by a rich person before? Kiyosaki gives you that chance. Use it or lose it. The choice is yours.
I also recommend Rich Dad's Success Stories to get the full and true story of how Kiyosaki has positively impacted the lives of others.
His system works. Try it. You'll love it.
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391 of 427 people found the following review helpful
5.0 out of 5 stars Still a best seller for a reason---it works! November 4, 2003
By A Customer
I first heard of this book when J.P. Morgan on the cover of the Wall Street Journal referred to Rich Dad Poor Dad as a "must read for millionaires."
Most people know by now that this is the true story of Kiyosaki's two fathers, one, his real dad had a high income but was poor. The other, his friends dad, but Kiyosaki's mentor and Rich Dad.
Kiyosaki learned that income alone does not create wealth as he learned from his "Poor Dad." Seeking financial freedom, Kiyosaki learned from his "Rich Dad" the keys to wealth.
Kiyosaki went on to amass a fortune and lost it. But remembering the lesson taught from his "Rich Dad", started over and amassed yet another fortune and retired at age 47.
The book will tell you some things you don't want to hear like a house is not an asset, 401 (k)s and so called "safe" investments are not quite so safe. That there is no such thing as job security and the world is full of "bullies" who will tell you how much money you can make, when and how many vacations you can take, lunch breaks etc.
Kiyosaki's "Poor Dad" was fired at age 50 and learning from this, Kiyosaki tells us that the only real security and freedom is in being your own boss.
Kiyosaki goes on to say that both of his dads were "honest, good, honorable men" but his poor dad, although a hard worker was weak and consequently ended up broke.
Interesting is that Kiyosaki pledges his first book, "If you want to Be Rich and Happy, Don't Go To School?" to his poor dad.Goes to show that Kiyosaki has class and truely loved his Poor but real dad.
Rich Dad Poor Dad is an excellent book. The main message is to take responsibility for your life. You are either a master of money or a slave to it.
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Most Recent Customer Reviews
5.0 out of 5 stars Five Stars
a good experience in Bullshit
Published 1 day ago by Quagmeyers
5.0 out of 5 stars Five Stars
love it
Published 1 day ago by Tetyana Gristes
5.0 out of 5 stars Satisfied reader
This book really teaches important values that man needs
Published 2 days ago by Albert perzansky
5.0 out of 5 stars Five Stars
Extremely good book.
Published 2 days ago by Sham Neebar
5.0 out of 5 stars Read this with your teen before they leave home.
Great perspective on the comparison and contrast of Kiyosaki's two dads' beliefs and practices. How fortunate for us he grew up this way. Read more
Published 2 days ago by Theresa Yee
5.0 out of 5 stars Five Stars
Amazing book a must read for people who want to increase their financial intelligence
Published 3 days ago by lionbaby
5.0 out of 5 stars Very interehesting!!!!
a definite good read. I would recommend this book to anyone epecially a novice investor.
Keeps the reader entertained while providing valuable info at the same time.
Published 3 days ago by Joe
4.0 out of 5 stars Should read to understand money
Highly Marketed, and profound in its lessons.

The author uses stories to convey the teachings of how differently "the rich think"
It is VAGUE, and does not... Read more
Published 3 days ago by Individualic
5.0 out of 5 stars Inspiring read!
I've been educating myself on personal financing for just a couple of years now, picking up books here and there and trying to watch CNBC while remembering to filter out "the... Read more
Published 4 days ago by Mauricio Perez
5.0 out of 5 stars let's get rich
This book makes it seem easy. I guess there is only one way to find out. It seems like the wealthy people I know just took a chance that the average person did not. Read more
Published 4 days ago by Fred Rakowitx
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