Rich Dad's Retire Young, Retire Rich (Paperback)

~ (Author), Sharon L. Lechter (Author) "The following is the story of how my wife, Kim, my best friend, Larry, and I began our journey from broke, to rich, to retired..." (more)
Key Phrases: rich dad, affluent level, quadrant person, Bill Gates, Social Security, Henry Ford (more...)

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.

Product Description

The way to achieve the goal of a lifetime.Its the dream that is quickly becoming a realitymaking so much money at an early age that you could decide when to retire, knowing full well that you have enough stashed away to ensure a life of comfort. In this new book, the fifth in the Rich Dad series, financial guru Robert Kiyosaki provides practical insight on how to put together a financial plan which will not only make you prosperous, but will also allow you to map out the freedom to choose your own retirement age.Retire Young Retire Rich follows the smash success of the four previously published titles in the Rich Dad series, all of which are New York Times bestsellers. The series has also appeared on the Wall Street Journal, Business Week, USA Today, and countless other business bestseller lists.Rich Dad Poor Dad is a starting point for anyone looking to gain control of their financial future. USA Today

See all Editorial Reviews

Product Details

• Paperback: 264 pages
• Publisher: Business Plus; 1st edition (January 15, 2002)
• Language: English
• ISBN-10: 0446678430
• ISBN-13: 978-0446678438
• Product Dimensions: 9 x 5.9 x 1 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 3.3 out of 5 stars  See all reviews (136 customer reviews)
• Amazon.com Sales Rank: #15,008 in Books (See Bestsellers in Books)

  Popular in these categories: (What's this?)

  #8 in	Books > Business & Investing > Personal Finance > Retirement Planning
  #16 in	Books > Business & Investing > Personal Finance > Financial Planning
  #36 in	Books > Professional & Technical > Accounting & Finance > Accounting

• This item is part of The Rich Dad Series.

Customer Reviews

Most Helpful Customer Reviews

229 of 245 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 (Miami, Florida, USA) - See all my reviews

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.

91 of 94 people found the following review helpful:

5.0 out of 5 stars Powerful and pragmatic, July 1, 2003

By A Customer

Robert Kiyosaki and Sharon Lechter sure take on the establishment and blow a hole right through commom misconceptions about wealth.

Forexample, many people think that investing is risky. No so say Kiyosaki and Lechter. In fact, they go on to explain that not investing is risky.

Buy and hold? Invest in blue chips (or is that blue jips?)? Dollar cost averaging? All taboo.

Social security? Hah! And how effective are 401 (k) plans? According to ther authors they are about as effective as savings accounts. Before you blast that concept, look at your 401 (k) plans and how they have performed over the last three years. I rest my case!

The authors also discuss the huge (50%) capital gains tax 401 (k) holders will have to pay as they withdraw their money. Many people are not prepared for this and unfortunately, many financial professionals never disclose this to their clients.
Imagine current retirees paying a 50% capital gains tax on top of the 50%-75% loss in capital from the bear market over the last three years--Ouch!

The advice in Retire Young Retire Rich is powerful, timely and pragmatic. I also recommend Rich Dad's Prophecy and Rich Dad's Guide to Investing.

For more advice on options, I recommend The Option Player.

Follow the advice and you too can Retire Young and Retire Rich!

70 of 79 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	Professor Donald Mitchell "Jesus Makes Me a P... (Boston) - See all my reviews (TOP 10 REVIEWER)

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.