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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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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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Product Details

  • Mass Market Paperback: 274 pages
  • Publisher: Plata Publishing; 1 edition (August 16, 2011)
  • Language: English
  • ISBN-10: 1612680011
  • ISBN-13: 978-1612680019
  • Product Dimensions: 0.2 x 4.2 x 7 inches
  • Shipping Weight: 5 ounces (View shipping rates and policies)
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (4,132 customer reviews)
  • Amazon Best Sellers Rank: #190 in Books (See Top 100 in Books)

More About the Author

Robert Kiyosaki, author of Rich Dad Poor Dad - the international runaway bestseller that has held a top spot on the New York Times bestsellers list for over six years - is an investor, entrepreneur and educator whose perspectives on money and investing fly in the face of conventional wisdom. He has, virtually single-handedly, challenged and changed the way tens of millions, around the world, think about money.In communicating his point of view on why 'old' advice - get a good job, save money, get out of debt, invest for the long term, and diversify - is 'bad' (both obsolete and flawed) advice, Robert has earned a reputation for straight talk, irreverence and courage.Rich Dad Poor Dad ranks as the longest-running bestseller on all four of the lists that report to Publisher's Weekly - The New York Times, Business Week, The Wall Street Journal and USA Today - and was named "USA Today's #1 Money Book" two years in a row. It is the third longest-running 'how-to' best seller of all time.Translated into 51 languages and available in 109 countries, the Rich Dad series has sold over 27 million copies worldwide and has dominated best sellers lists across Asia, Australia, South America, Mexico and Europe. In 2005, Robert was inducted into Amazon.com Hall of Fame as one of that bookseller's Top 25 Authors. There are currently 26 books in the Rich Dad series.In 2006 Robert teamed up with Donald Trump to co-author Why We Want You To Be Rich - Two Men - One Message. It debuted at #1 on The New York Times bestsellers list.Robert writes a bi-weekly column - 'Why the Rich Are Getting Richer' - for Yahoo! Finance and a monthly column titled 'Rich Returns' for Entrepreneur magazine.Prior to writing Rich Dad Poor Dad, Robert created the educational board game CASHFLOW 101 to teach individuals the financial and investment strategies that his rich dad spent years teaching him. It was those same strategies that allowed Robert to retire at age 47.Today there are more that 2,100 CASHFLOW Clubs - game groups independent of the Rich Dad Company - in cities throughout the world.Born and raised in Hawaii, Robert Kiyosaki is a fourth-generation Japanese-American. After graduating from college in New York, Robert joined the Marine Corps and served in Vietnam as an officer and helicopter gunship pilot. Following the war, Robert went to work in sales for Xerox Corporation and, in 1977, started a company that brought the first nylon and Velcro 'surfer wallets' to market. He founded an international education company in 1985 that taught business and investing to tens of thousands of students throughout the world.  In 1994 Robert sold his business and, through his investments, was able to retire at the age of 47. During his short-lived retirement he wrote Rich Dad Poor Dad.

Customer Reviews

Most Helpful Customer Reviews

829 of 860 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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3,926 of 4,329 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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102 of 108 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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121 of 129 people found the following review helpful By Jack Ross on December 2, 2003
Format: Audio CD
As great as the book is, the information from Rich Dad Poor Dad really comes to life on the cd. I am more of an auditory learner so listening makes learning easier for me. I played this cd audio for 21 days straight untill Kiyosaki's words became my words.
I have the book too, but the cd's really rock. Read the book but listen to the cd audio as well. You'lll earn faster and since this is the subject of wealth, doesn't it make sense to maximize your learning? Yeah! I knew you would agree.
Great book and cd program.
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155 of 167 people found the following review helpful By A Customer on January 1, 2004
Format: Paperback
Despite the fact that thanks to Pres. Bush, the unemployment rate is now the lowest it has been in over 3 years, how many people have lost jobs and are still struggling financially?
Clintonomics put this country into a tailspin in late 1999/2000.
We have had one of the biggest stock market crashes in history and one of the worst recessions in history. Interesting though is that RTK warned us about some of these things in this and other books.
Some of us went about creating our own opportunities via business, stocks and real estate. Some people don't realize or know how to make money in the stock market in a down market (HINT: Read Retire Young Retire Rich) or how to make money in Real Estate or the value of starting your own business.
Some people attack network marketing. Funny thing though; the people I know in network marketing are enjoying life, never complain about the economy, living really well and don't have to worry about being downsized. I am not currently involved in network marketing but have a breakfast appointment after a golf game next week with a very successful network marketing friend of mine.
I highly recommend Rich Dad Poor Dad for those who want something more out of life than just a J-O-B which stands for just over broke (untill you get downsized), who wants to invest profitably (Kiyosaki also warned us about mutual funds too and listening to certain financial people. Read Rich Dad's Prophecy)
As we start a new year, I cannot honestly recommend a better book or series of books that Rich Dad Poor Dad, Cash Flow Quadrant, Rich Dad's Guide to Investing, Retire Young Retire Rich and Rich Dad's Prophecy.
Best wishes for a Happy and Successful 2004!
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