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Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Mass Market Paperback – August 16, 2011


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Product Details

  • Mass Market Paperback: 274 pages
  • Publisher: Plata Publishing; 8.2.2011 edition (August 16, 2011)
  • Language: English
  • ISBN-10: 1612680011
  • ISBN-13: 978-1612680019
  • Product Dimensions: 6.9 x 4.5 x 0.8 inches
  • Shipping Weight: 5.6 ounces (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (3,349 customer reviews)
  • Amazon Best Sellers Rank: #273 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 the 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
5 star
1,793
4 star
640
3 star
301
2 star
189
1 star
426
See all 3,349 customer reviews
The book is very well written and easy to read and understand.
Monty Rainey
It is a really good book for those who want to know the secret to being rich, but don't want to read a boring book that just tells you what to do with your money.
Sheridan
He also discusses some great points on how you should invest your money in income producing assets like rental real estate, stocks, businesses, etc.
MAT

Most Helpful Customer Reviews

525 of 541 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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3,667 of 4,022 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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101 of 106 people found the following review helpful By B. Hinds on August 7, 2003
Format: Paperback
Rich Dad Poor Dad is the very best book available for those who want to become wealthy or at the very least, attain a moderate level of financial freedom.
I think some people miss the point and think this is a "get rich quick" book. Clearly, it is not. You can get rich quicker though and this book explains how.
No book stays on the best seller lists this long. Has this many 5 star reviews with continuing high book sales without having something worthwhile to share.
And what about the 1 star reviews? I suspect that this is just 1 person constantly reposting. Same unsubstantiated complaints against Kiyosaki. Same website keeps getting mentioned (how often do you see a 5 star reviewer hawking a website?) Their arguments are unsubstantiated and without base. Do what I do...don't read them.
Rich Dad Poor Dad is an excellent book and I highly recommend it.
B. Hinds author of Power Wealth
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122 of 129 people found the following review helpful By A Customer on February 14, 2004
Format: Audio CD
While the book is great, you have to hear this program on a high quality CD. Great education while you are driving around in your car---beter than hearing the rapes, murders, robberies and accidents and other negative crap on the radio.
Even if you own the book, get the CD. It is outstanding!
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109 of 115 people found the following review helpful By Terri on November 25, 2003
Format: Paperback
Before reading Rich Dad Poor Dad I was out of control, letting brokers make my financial decisions for me and letting my employer determine my lifestyle.
What I got out of Rich Dad Poor Dad first of all is to think for myself. No broker, financial planner or advisor will take care of my money as well as I will. Point of fact, I once turned over a sizeable amount to a broker and asked him to watch it for me. He must still be watching it because I never saw it again.
Employers determine how much we make, when and where were can go on vacation. We work 9-5 and at the end of the week, our employer who has us on a chain, loosens that chain let's us have a little freedom. Once a year (or more depending on how long you have worked for them) your employer reels out that line a little more for something called a vacation. Our employer even determines what kind of retirement or even if we can retire based on pensions and 401 (k) plans all of which are determined by the employer.
Thanks to Rich Dad, I found a better way. I determine my own investments and have done quite well thank you. I have started my own super successful business and set up my own retirement plan. I am in control. I also think for myself, something that Kiyosaki learned from his Rich Dad.
I used to read certain financial magazines but stopped when I realized that most were just cataloques for certain financial companies and offered very little useable advice. I lost a bundle buying a stock recommended by my broker because it was in (.....) magazine.
To sum up Rich Dad Poor Dad, it is the true story of Robert Kiyosaki and his real father who was poor following pretty much the same system that most people do; go to school, get a job etc. and his "Rich Dad", actually a friends dad who was rich
but followed a different system, of being an entrepneneur, independent.
Rich Dad Poor Dad is a excellent book to launch you into financial self reliance. It sure worked for me.
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