Customer Reviews

Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money

5 star:		(56)
4 star:		(20)
3 star:		(16)
2 star:		(6)
1 star:		(13)

 

 

First of all, I'm not a Kiyosaki fan...his style of writing just tends to annoy me however, he is one of those authors that is able to effectively communicate with the average person and often has one or two gems that make it worthwhile to read his books. Having said that, this book is a bit different than his others both in terms of content and style. It is primarily compiled from his website which by this point, is both a work in progress as well as a day by day breakdown of the current economic crisis unfolding as history. The book contains comments by readers of the website/blog as well as more traditional insight and commentary by Kiyosaki et al.

As a college instructor as well as business writer, I'm quite familar with authors that "try out" or compose a book from class notes, lectures, journal submissions and articles etc...but few have used an online format as a pure marketing ploy to generate both interest and actual content. I suspect it takes a highly recognized name and a major economic melt-down to pull it off. Sales of this book will certainly determine if it is pure genius or merely a gimmick.

Aside from the collaborative nature of the book, the actual writing retains the same consumer friendly, conversational tone found in former "Rich Dad" books with the very pleasant lack of constant reference to the "dads" which was a personal pet peeve. Personally I found this to be more readable than most and equally interesting.

The author departs from the prior "real estate" emphasis into a much broader investment perspective which includes precious metals and other assets, proper use of debt, information and much more. I was fairly impressed by both the rationale and future trends as well as the very "do-able" information presented. It is obvious the author has taken time to create something within the grasp of average Americans by first providing a framework for safety then moving beyond to creating choices for potentially more rewarding investments. At each step of the way a solid rationale is provided...whether one agrees or disagrees, it is valuable to reflect upon where the author is "coming from" in order to make up your own mind as to the validity of the position or not.

Readers that enjoyed Ron Pauls' recent 'End the Fed" will be delighted by the straight-forward discussion about the status of the government, Fed and more in this recent book. Kiyosaki doesn't mince words this time around and does so in a purely equitable manner that doesn't offend - but is designed to enlighten the reader to the dangers surrounding them at every turn.

More savvy investors may not find a lot new however, those searching for a fresh start or trying to make sense of the current economic crisis and future financial trends in an easy to understand way will truly appreciate this book. There is overlap from prior books but also a surprising amount of newer or revised content that is well worth the time of former readers to review.

Bottom line...a surprisingly good book.

This remarkable book is filled with factual information, both current and historical, and although that information may discourage or frighten some readers the book is written in such a casual style that it is almost as if its story is being told by your best friend. Only, in this case your friend actually knows what he is talking about. It is a great read, and the information it conveys is simply too valuable to miss. I only wish such books had been available forty or fifty years ago.

In any event, if you are a product of America's public school system, you may very well have asked yourself, as I once did: "What have I learned in my twelve years of school that will help me get a job?" That's certainly an interesting question, but, strangely enough, the answer is far less important than the question itself. For that question reveals a mindset that has been instilled in America's children by our public education system, by conventional wisdom, and, in all probability, by almost every student's parents for generations. Namely: Get an education, get a job, work hard, buy a house, save for the future, and someday you will be able to retire and live happily ever after.

That mindset, according to this book's author, has doomed generations of Americans to a lifetime of hard work with little chance success, leading many to someday ask themselves: "Why is it that I have a good education and work hard at my job, but I never seem to be able to get ahead?" The answer, again according to this author, is that, despite the fact that America is a capitalist society, our public schools only train our children to be good employees, good soldiers, professionals, and small business owners, but teach them nothing about money and finance or how to properly invest and prosper in a capitalist system.

This book seeks to break that mindset by encouraging its readers to change their attitudes from "I can't do that" to "How can I do that" and offers fairly specific suggestions and guidelines as to how individual successes might be achieved. The trick, Mr. Kiyosaki avers, is to first change your way of thinking, then study your chosen direction, and finally work toward getting out of what he terms the "Employee/Small Business" (E/S) quadrants, in which the odds are stacked against you; and into the "Big Business/Investor" (B/I) quadrants wherein lies greater opportunity, lower taxes, cash flow without labor, and the opportunity to exploit those in the E/S quadrants.

After reading this book, I came to the conclusion that it is invaluable, especially to young adults, and should be read by every thinking American. I also came to the conclusion, however, that the book's title is something of a misnomer. It should really be entitled "The Conspiracy of the Super Rich," for they, the politicians they control, and the heads of America's largest banks are the ones who perpetrated and carry on the conspiracy.

So, yes, Virginia, there is a conspiracy of the rich, and if you reside in the E/S quadrants, as virtually all of us do, you are one of their Santa Clauses. But, strangely enough, "the rich" aren't really those we are led to believe they are. They aren't those making over $200,000 per year, who presumably should be punished for it, or minor millionaires. They are the anonymous "Super Rich" who make the rules and control the game. And they are well above it all.

You want to know the secret to salesmanship? Agree with your customer philosophically so that he thinks you're a kindred spirit. Then when his emotional defenses are down, sell him garbage.

I thought that this would be an interesting book because I'm libertarian and anti-Fed, but it all came apart when it dealt with personal investment advice. And that was the reason to read it, wasn't it?

Let's get something straight. The banksters want you to go into debt. They manipulate the credit cycle to charge interest in boom times and foreclose in bust times. There's no such thing as 'good debt.'

The author emphasizes cash flow, and then he gives as example how much of his income is derived from royalties and licenses on his books and games. Now how is that supposed to apply to the rest of us?

About the only applicable advice he gives is to rent out properties for more than you pay in mortgage payments. Wow, never heard of that one before. I wonder what would happen if the renters couldn't pay. Hmm.

In the Author's vision of America, nobody actually produces anything. Instead, they simply make investments. The author pretty much comes out and says that anyone who works for a living is a chump. How food, clothing, housing, appliances, health care, electricity, etc., are to be provided when everyone is busy playing cash flow games is not explained. America may not want an explanation, but China is wondering.

Considering R. Kiyosaki is a wealthy man from his other books he is really providing a patriotic service to our country. As a student of the banking system and money in general, he does expose the fundamentals of who "prints" our money and to the private organization a large part of our federal taxes feed.

Because of his platform and fame, he really is exposing himself to risk on this one. He's really connecting the dots. I'm sure those in control will not appreciate this being in the mainstream. He clearly states that change isn't coming with Obama (or any President, rep. or dem) and we'll have to be the change. This book operates on this fundamental... in order to break the rules, you have to know them well. You need to know the fallacies of the "old" rules of money before you can apply the "new" rules.

This book will open your eyes to what money really is... shouldn't you know what most of the world goes to work for every day?

Pick this book up while you still can.

Thanks Robert for all of your books. My life has never been the same since reading Rich Dad Poor Dad. He has steered me clear of the "Rat Race" pitfalls most people fall into.

I personally met Robert in 1991. I've always considered him a mentor who has good information to share.Although I have not always agreed with him 100 per cent, I think his essential ideas are very sound. I've followed his writing career with interest over the years. I haven't read every one of his books, but I thought Rich Dad, Poor Dad was great, and deserved to be such a huge bestseller.

Those who are fans of Robert's investing techniques will not find a lot of new ideas here for making money. The really important information in this book has more to do with the unholy alliance of the Federal government with the big banking houses --- and how that is impacting our economy now, and in the near term future.

It also takes a critical look at the history of our educational system,examining the WHY of"why don't the schools teach much about managing money?".

This book is a serious eye-opener, and I hope Robert's fame results in a lot of people reading it.

What a waste of time and money. Wow. To say that this book is repetitive is like saying this book is repetitive. Did I mention it was repetitive? If you enjoy reading the sentence "When President Nixon severed the U.S. dollar from the gold standard in 1971" repeatedly (SEVEN TIMES that I recalled) or that "Go to school," "Get a job," "Work hard," and "Save money" are useless bits of advice (FIVE(?)TIMES), then maybe this book is for you....or maybe an Alzheimer-afflicted relative. Don't even get me started on the shameless down-your-throat, "buy my game, CASHFLOW" and "visit my website" refrains. Wow. Maybe 30 pages of actual content (which doesn't even provide any technical "how to" information), packaged ever so neatly in to 257 pages of text. Clearly, selling the license to print this book to 50 publishers and collecting royalties (which he also says at least FIVE TIMES...) was the only reason to write it. As Kiyosaki himself says on page 171, "I am not a best-writing author; I am a best-selling author." Amen to that.

This book is a scam. Most of the information is good enough, but it promises some new rules, and there are none.

What are the 8 rules?

1. You don't need money to make money. You only need ideas. Hmmm. It might be true if you can start a google, but most people need something to invest. He doesn't talk about Google, he talks about shorting shares. You need money to do that. So he's just full of crap here. However, someone with a good business idea can raise capital - that's true, and that would be a good point, a good example. Not new by any means, but at least not BS.
2. Learn how to use debt. He distinguishes between consumer debt and leveraged investment, which is right, but not new. He also fails to give any warning about the hazards of leverage. You'd think, given the events of the past year, it might've deserved a mention.
3. Control cash flow. Keeping a budget is a new idea?
4. Prepare for bad times. My grandparents lived through the Great Depression. They knew this. Nothign new here.
5. The need for speed. RK means you have to act quickly. Hasn't everyone noticed this? Remember all the globalization hype? Anyway, someone should ask Warren Buffet about speed.
6. Learn the language of money. Did anyone need to be told this?
7. Life is a team sport - choose your team carefully. Pure platitude.
8. Get educated about finance. This "rule" must be 300 years old, and if you couldn't think of it for yourself, no book - let alone this one - will help you.

All in all, don't spend your money on this book. Find a book with real information and less salesmanship.

Let me recommend instead one of the all-time great books on personal finance: Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Revised and Updated for the 21st Century.

I am an advocate and fan of the "Rich Dad" crowd, however as I continue to read more of there books, the reoccurring message is simply "learn more and get more educated"

This book does do an admirable job of describing national events that are distorting our economy. That portion of the book is well served. Robert's discussion of his personal story in life is also interesting. The one thing I find that is lite is any specific suggestions for action for the reader to respond to this "conspiracy".

All things equal, a good book, especially for a beginner. But for those of us that are aware of the general theme of things, it's a bit too fundamental.

This is the third of Kiyosaki's books I've read (the others were Rich Dad, Poor Dad and Rich Dad's Guide to Investing). At first I found the book interesting as it provided some basic history of our current fiat money system. But the thing that really makes the book fall short, as others have noted, is the constant promotion of his other products. It seems like every chapter is basically "Investing is hard... unless you go to my seminar and buy my stuff." That becomes annoying real quick.

The other thing I disliked about this volume is its generalities. While I understand you can't pack everything regarding money and finance in a small paperback, the way he does it seems almost arrogant. Kiyosaki goes on talking about how he 'beats the rigged game' by creating money and get 100%+ returns on all his investments, which is suspect as he keeps referring to stock market and real estate strategies of "The Rich" but clearly makes his money through infomercials and seminars.

To conclude, the book does contain a few bits of wisdom, but its mostly a self promotion and pitch for his guru business (the real way he makes money like the rich). If you would like to become rich by selling seminars on how to be rich, Kiyosaki is the perfect guy to learn from, otherwise find someone who actually succeeds by selling goods or services that people actually need, not illusions.

This book is a double edged sword. It alerts you that an asteroid is about to strike the planet (metaphorically) but instead of issuing any real instruction it simply yells... RUUUUNNNNN!!!!! It's amazing that the author can open your eyes to all the tricks the rich use while at the same time spoon feeding information and repeating the same stuff over and over again when he could use that time to instruct and fill in the gaping holes. What the author does do is plug his Cash Flow game, other books and follow up services. This is not a "How To" book. This is a "You Need To Figure Out A Way To" book.

Only reason I gave it 3 stars is because it did open my eyes. But once my eyes opened I was all, "Hey, you're one of them!" Dude, next time you write a book to help people. Help them. Just a thought.