Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! [Paperback]

Robert T. Kiyosaki (Author), Sharon L. Lechter (Author)

Book Description

Publication Date: January 1, 2002 | Series: Rich Dad's

This book is about how we started with nothing and retired financially free in less than ten years. Find out how you can do the same. If you do not plan on working hard all of your life...this book is for you. Why not Retire Young and Retire Rich?

Editorial Reviews

From Library Journal

In this fifth addition to his highly successful "Rich Dad" series, Kiyosaki (Rich Dad Poor Dad) now focuses on the power of debt leveraging in order to work less and earn more. Beginning with the principle of changing attitudes about financial freedom, he explains the difference between earned income and passive or investment income, managing good debt that makes money for you, such as in real estate, the fundamental concern about 401(k) retirement plans that are too focused on stock market performance, and the need to create a long-term financial freedom plan and the emotional discipline to stick to it. Listeners will likely be captivated as they learn how to replicate his success, and the crisp narration by Jim Ward definitely makes this fact-filled collection of sound financial advice another hit for Kiyosaki. The solid, practical insight into how to put together a plan to financial freedom will require a commitment to changing lifestyles and personal attitudes about work and, of course, enough time left in life to allow the investments to succeed. Highly recommended for all public libraries, especially those that have not yet begun to add Kiyosaki's other super titles to their business and investment collections. Dale Farris, Groves, TX
Copyright 2002 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

About the Author

Born and raised in Hawaii, Robert T. Kiyosaki co-founded an international education company that operated in seven countries, teaching business to tens of thousands of graduates. Now retired, Robert does what he enjoys most...investing. Concerned about the growing gap between the haves and have nots, Robert created the board game CASHFLOW, which teaches the game of money, here before only known by the rich.

Sharon L. Lechter is a wife and mother of three, CPA, consultant to the toy and publishing industries and business owner. As co-oauthor of RICH DAD, POOR DAD and THE CASHFLOW QUADRANT, she now focuses her efforts in helping to create educational tools for anyone interested in bettering their own financial education."

See all Editorial Reviews

Product Details

• Paperback: 288 pages
• Publisher: Business Plus; 1St Edition edition (January 1, 2002)
• Language: English
• ISBN-10: 0446678430
• ISBN-13: 978-0446678438
• Product Dimensions: 6 x 1 x 9 inches
• Shipping Weight: 1 pounds
• Average Customer Review: 3.3 out of 5 stars  See all reviews (150 customer reviews)
• Amazon Best Sellers Rank: #164,845 in Books (See Top 100 in Books)

Most Helpful Customer Reviews

235 of 253 people found the following review helpful

5.0 out of 5 stars Get real you 1 star people! June 11, 2002

By thomas j dick

Format:Paperback

This is a great book, possibly the best of the series. If you think all there is to life is a college degree and a J-O-B, think again.Mr. Kiwosoki has written an excellent book that is right for the times. You can retire rich and you can retire young by following the principles in this book.I also recommend "The New Professionals" and "Turner Turner, Turner: The King of Network Marketing" for additional reading and insight.

76 of 85 people found the following review helpful

5.0 out of 5 stars Essential Look at How You Must Think and Act to Prosper! January 5, 2002

By Donald Mitchell HALL OF FAMETOP 100 REVIEWERVINE™ VOICE

Format:Paperback

This book deserves more than five stars for its exceptional clarity, authenticity, relevance and eloquence.

Those who love the Rich Dad, Poor Dad books will adore this one. I found it to be the best book in the series since Rich Dad, Poor Dad.

Mr. Robert T. Kiyosaki speaks with the authority of experience. He did retire young at 47 while his wife was 37. At that time, his expected annual income was between $80,000 and $125,000. Many people yearn for early retirement with wealth, mostly because they hate their work. Mr. Kiyosaki was soon back at work, establishing new businesses. Most of his wealth was created after he retired. "I keep working because there are so things that need to be done." So, he has clearly moved from earnings a living, to living a mission of self-expression. That's very wonderful, and I hope you will accomplish the same result!

Although the subtitle says this is "how to" book, it's really more of a "what to think" book. The fundamental concept is to leverage your mind, your plans, your actions, and your priorities to get wealth faster and more easily.

As usual, Rich Dad provides some wonderful quotes. Here are a few of my favorites.

"David could beat Goliath because David knew how to use the power of leverage."

"Cash flow is the most important word in the world of money. The second most important word is leverage."

"Leverage is the reason some people become rich and others do not become rich."

"Because leverage is power, some people use it, some abuse it, and others fear it."

"Getting rich begins with words and words are free."

" . . . do more and more with less and less."

The first books in the Rich Dad, Poor Dad series have been about cash flow. This one shifts over to leverage.... Section 1 is about leveraging your mind, section 2 looks at leverage from a plan to retire, section 3 addresses leverage from actions. The book goes on to give you a final exam on your attitudes and a challenging thought to chew on to help get you focused properly: making lots of money with no money to start with.

Now, any book about leverage would normally have lots of pages on how debt leverage works. In fact, that is only a small part of what this book talks about. You will find that discussion in part of chapter 16, which looks at all of the forms of leverage in real estate.

One of the strengths of the book is a fine discussion of how to think about risk and reward. It's not how often you fail, but how big the costs of your failures are compared to the rewards of your successes . . . and your determination to keep trying until you succeed. For instance, 9 out of 10 new businesses fail. But the value of the 1 in 10 that succeed should vastly outweigh the costs of the 9 failures.

The book is excellent in warning you against the risks that you are unconsciously taking. Most people have 100% of their financial futures tied up in government pension and Medicare payments and the stock market. Mr. Kiyosaki correctly points out that this assumption is probably faulty, because there are far more Baby Boomers depending on these two resources than there are resources. One part of the leverage concept is to have more streams of cash flow. He also has excellent ideas on how to reduce risk in your current and potential sources of cash flow.

You are also given a list of good habits to pursue. And top tips from the prior books are repeated in a convenient section near the end of the book.

If you follow the advice in this book, it will be worth more to you and your family than all the other investment and retirement books that you read combined. But you have to take action! Thinking about taking action won't get you there.

I would describe this book as being a lot like Tony Robbins's book, Personal Power, except it is focused effectively on the emotional and mental disciples needed for financial security and investing.

By the way, I have known many people who have retired young with the assistance of being rich. They all embody the principles captured in this book. By contrast, at age 65 only 5 percent of all Americans will be able to afford to live a wealthy life style. Most will be looking for more income. Which group do you plan to be in?

Think and live the thoughts that will make you as rich as you want to be! The solutions are there if you look for them.

Read more ›

30 of 31 people found the following review helpful

5.0 out of 5 stars How to Retire Young and Retire Rich-A world w/o paychecks? June 30, 2004

By A Customer

Format:Paperback

Robert Kiyosaki started with nothing and in less than ten years, retired financially free. He enjoys a lifestyle that we all wish we had. One of the first mindsets or mentality that he had to change was to succeed in a world without a paycheck. This is in a world that practically deifies a job and a paycheck.

Kiyosaki explains that most people have 50%-100% of their income is from earned income from a J-O-B. BIG MISTAKE! Those who retire young and retire rich do so from portfolio income. From passive income. From residual income.

How do you do this? You create a business. It can be network marketing or a franchise (if you have that kind of money sitting around or the ability to borrow it) Or it could be real estate (my choice--no downlines, uplines, sidelines, monthly quota's, sales volume requirements etc.) Or you could write a book. Self publishing is flourishing today because many people have excellent ideas and eager to disseminate these ideas in the form of a book.

Retire Young Retire Rich is an excellent book for anyone who regardless of their present income or level of wealth, wants to retire financially free and financially independant within 10 years or less.

Great book. Maybe his best to date.

44 of 48 people found the following review helpful

3.0 out of 5 stars The best... And the worst February 5, 2002

By Jon R. Patrick

Format:Paperback

I've read almost all of the Rich Dad series, and I continue to give each one of them mixed reviews.
On the one hand, these books stress that people are NOT going to become 'rich' by saving and investing for retirement. The truly rich DO think different and have different options, primarily because they own their own business.
The information provided is, on the one hand, so obvious you wonder "why bother". Then, you realize that Mr. Kiyosaki is the only person out there putting together books like this, and then you have to wonder "why isn't anyone else saying this!?!"

The RD,PD books form a cornerstone of my personal finance library, NOT because of the depth of information provided (as one other reviewer mentioned, specifics are THIN), but because these books are designed to make you THINK, to make you expand your potential, and to find out the rich person in you. That sounds esoteric, but the reason each book repeats earlier books is because the messages need to be repeated, repeated, repeated until you finally _realize_ what he's trying to say!

Yes, this book is a rehash of the previous books. Yes, it does provide a few new insites that make it worthwile. BUT, the fact that Mr. Kiyosaki finally goes into a little bit of detail of HOW he raised himself up, how he APPLIED the lessons he's been teaching, and a bit about some deals he worked. The series isn't about specifics; remember that. It's about changing your CONTEXT.

Read the book and you'll understand.

59 of 67 people found the following review helpful

5.0 out of 5 stars Another winner from "our Rich Dad" December 31, 2001

By "marketing_dog"

Format:Paperback

Just got the book (on order since June!)and I dived in to it straight away. If you liked the other books in the "Rich Dad" series, you are going to love this one. At first I was worried that it would be a rehash of the other books, but my fears were quickly put aside as I read on. "Retire Young" adds a new dimension to the information already shared in the other 3 key "Rich Dad" books by going in to more of the psychology of being rich. Robert shares more insights of his life - adding new levels of details to te stories we heard in the first books, plus new information on the way he and his wife have developed their fortunes from the time that they had zero.

This book is a MUST READ for anyone wanting to get the full impact of the "Rich Dad" way of being. You are left in no doubt of the things you have to stop doing -- or do more of -- in your own life in order to retire young and retire rich.