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Rich Dad Poor Dad: What The Rich Teach Their Kids About Money - That The Poor And Middle Class Do Not! Paperback – June 14, 2011

ISBN-13: 978-1612680002 ISBN-10: 1612680003 Edition: 2nd

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Product Details

  • Paperback: 178 pages
  • Publisher: Plata Publishing; 2nd edition (June 14, 2011)
  • Language: English
  • ISBN-10: 1612680003
  • ISBN-13: 978-1612680002
  • Product Dimensions: 8.9 x 6 x 0.6 inches
  • Shipping Weight: 8.5 ounces (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (3,468 customer reviews)
  • Amazon Best Sellers Rank: #8,858 in Books (See Top 100 in Books)

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 --This text refers to an alternate Paperback edition.

From Library Journal

Reissuing a self-published best seller.
Copyright 1999 Reed Business Information, Inc. --This text refers to the Hardcover edition.

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Customer Reviews

4.0 out of 5 stars
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4 star
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3 star
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See all 3,468 customer reviews
The book is very well written and easy to read and understand.
Monty Rainey
Not only did I find Kiyosaki's book vague and repetitive, but I also seriously questioned some of the advice he gives.
David Ludka
This book will change the way you think financially and i would recommend it to anyone.
Michael B

Most Helpful Customer Reviews

559 of 575 people found the following review helpful By Hinkle Goldfarb on 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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3,697 of 4,059 people found the following review helpful By "korak@evilemail.com" on 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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108 of 114 people found the following review helpful By A Customer on March 10, 2004
Format: Paperback
According to Kiyosaki, his Rich Dad told him and Kiyosaki told us that we are heading towards a jobless society.Take a look at the unemployment stats that came out last week. Unemployment is down as more and more people are moving away from the job market and entering into self employment by way of home based businesses, network marketing, real estate and other forms of business.Rich Dad knows his stuff and so does Kiyosaki. RTK sure had the right mentor. I suspect that all of those people are causin the unemployment numbers to drop have read Rich Dad Poor Dad.I also recommend Peter Lynch's excellent books (so does Kiyosaki, he recommends them in his book).If you want success, then read books written b successful people i.e. Kiyosaki, Lynch Robert Allen, Charles Givens, Ric Edelman, Dave Bach and some others who are helpng people and sharing their wealth of knowledge.Be wary of self published books written by people with no prior business experience who only write and in some cases, plagerize other authors.
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1,002 of 1,102 people found the following review helpful By barry kaufman on June 19, 2002
Format: Paperback
Where do you learn about money? School? No! Too busy memerizing war dates. Parents? Possibly, but not likely.If you dislike this book you have probably bought into the Great American Lie of go to school, get a job and after 40 years you get a gold watch. And you are in rat race my friend.I have a gold watch already. It says to Barry Kaufman the greatest guy in the world from Barry Kaufman the greatest guy in the world. I didn't have to wait 40 years for mine or sell my soul to corporate America for a little cup of soup (called wages)I also suggest reading Who Stole the American Dream, Wave 4 and Turner, Turner, Turner: The King of Network Marketing.
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