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Rich Dad Poor Dad [Kindle Edition]

Robert T. Kiyosaki
3.9 out of 5 stars  See all reviews (3,158 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: #1,749 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
457 of 470 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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3,617 of 3,964 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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860 of 943 people found the following review helpful
5.0 out of 5 stars Excellent book - ignore paid bashers April 4, 2004
By A Customer
Format:Paperback
Rich Dad Poor Dad is a life changing book that is why this incredible book has been a best seller now for over 8 years and is still in the top 20 of all books being sold right now.
Kiyosaki will tell you some things you don't want to hear. He is controversial. So is Donald Trump. Rich people are always controversial, but who are the people that make Kiyosaki and others controversial? Certaintly it's not the wealthy. The wealthy agree with Kiysosaki becuase that is how they became rich.
Kiyosaki tells us that a house is not an asset. I have to admit that I had a problem with that one myself. I a lways felt that real estate was the one safe have out there and like most, was taught by parents and other early mentors that a house is an asset. Then I got a house and found out that Kiyosaki is absolutely right and so were my mentors. A house is not an asset for the buyers, people like you and me but it certaintly is an asset for the banks, real estate agents, insurance people, the local government who wack you with high city taxes and so on.
The biggest problem is that many people think that a big house is a symbol of wealth. It is a symbol of wealth to the bank. Most people tyupically take out 30 year mortgages. How much do you think banks make on that while you are paying for the equalivent of three house payments over time?
Conventional wisdom tells us to get a great education and you'll get a great job. Well it started in the Clinton era and has been escalating ever since---downsizing. People who spent tons of $$$ on a college education, invested years in their jobs being servants to their employers and for what, to be downsized?
And then there is the typical way that people invest. Conventional wisdom tries to tell us that we can't do it on oour own.
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Most Recent Customer Reviews
5.0 out of 5 stars Basic steps to curiosity
I don't have parents that can teach me something eye opening like this.
The book use a childhood experience of the author which makes me understand the concept much easier
Published 10 hours ago by reyzell
5.0 out of 5 stars Financial principles for the average person
Easy to read and easy to understand..positive thinking joined with financial wisdom is successfully promoted for the non-financially educated people
Published 13 hours ago by JORGE VILLARREAL CAREAGA
5.0 out of 5 stars Must read
Excellent book to change your thinking about money and your outlook on working for money. Just wish there were clear tips and examples but a definite must read.
Published 17 hours ago by Paul H.
5.0 out of 5 stars Life Changing Book, Paid My Kids To Read It
I am glad for those who already know all this and have it down, they must be very wealthy and in no need of advice. Read more
Published 1 day ago by jd
5.0 out of 5 stars The road less traveled
Changes the way you think about financial literacy and creating assets not liabilities. Teaches you how to play the game of monopoly in real life.
Published 1 day ago by Stephen W. Mckaig
5.0 out of 5 stars Must read
You must read this if you are living pay check to pay check. It will change your life. Just listen to the man, and stop listening to critics.
Published 3 days ago by Tajinder S. Nagra
5.0 out of 5 stars One of the best books I've red on how to THINK about money
This book was already for years in my book collection, but I just read it recently. I thought it was more written for a junior audience getting started in finance and how to make... Read more
Published 3 days ago by Straddle1985
5.0 out of 5 stars OMG!! WHY did it take me so long to find this book?!!
If I had read this 20 years ago, my life would be dramatically different today! But just don't READ it. DO IT. IMPLEMENT ideas from it.
Published 3 days ago by Connie K Anderson
5.0 out of 5 stars This is what everyone needs
Everyone needs to read this book, whether you are 16, or 60. I am 23 and after reading this, I can see the world for what it is, just numbers. Read more
Published 4 days ago by Zayne Thompson
3.0 out of 5 stars Good fundamental direction one can get from this book.
A good book to enter in the world of investment. I gave 3 star because I am a moderate investor and found this to be entry level. I was expecting some more details. Read more
Published 4 days ago by Sandeep H Ambardekar
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Questions from Readers for Robert T. Kiyosaki

Q
Hi Robert! Ive been involved with a few network marketing companies, and none of them has panned out to making me any money at all! I live very rurally and know few people. Extended family is non supportive. My hubby was unemployed for a year, and...
Robin Brostovski asked Sep 2, 2012
Author Answered

Hello Robin. Thank you for the question. When I get in a situation that feels like a "no win" I do two things: I look at all the failures and all the losses and all the mistakes. I look at them hard and long, then I turn each failure, loss and mistake into a lesson. I learn. Mistakes are the best teachers so I learn a lot. After I've learned my many painful lessons, I reorganize, rethink and revise my opportunity. Then I act. Many times I've had to repeat this cycle over and over. But once learned, you'll never forget these painful lessons that are the keys to your success.

Robert T. Kiyosaki answered Sep 4, 2012

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