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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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Rich Dad Poor Dad, the #1 Personal Finance book of all time, tells the story of Robert Kiyosaki and his two dadshis real father and the father of his best friend, his rich dadand the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
- Print length274 pages
- LanguageEnglish
- PublisherPlata Publishing
- Publication dateAugust 16, 2011
- Dimensions4.25 x 0.25 x 7 inches
- ISBN-101612680011
- ISBN-13978-1612680002
- Lexile measure860L
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Product details
- Publisher : Plata Publishing; 1st edition (August 16, 2011)
- Language : English
- Mass Market Paperback : 274 pages
- ISBN-10 : 1612680011
- ISBN-13 : 978-1612680002
- Lexile measure : 860L
- Item Weight : 5.5 ounces
- Dimensions : 4.25 x 0.25 x 7 inches
- Best Sellers Rank: #457,127 in Books (See Top 100 in Books)
- #974 in Introduction to Investing
- #1,010 in Budgeting & Money Management (Books)
- #30,210 in Reference (Books)
- Customer Reviews:
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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.
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First off I will preface this with a fact that the title always sounded to me like it was how to transform yourself from a poor dad to a rich dad. This was not so. Although it has the information within to create that transformation, at least if you choose to apply some fo the principles, and of course in theory! Know this, though, this is not a rags to riches overnight book. It is a journey over a fair span of a lifetime.
Robert T. Kiyasaki tells his tale as a young man growing up in Hawaii, his paternal father being a well-educated man who throughout this book always seems to be on the verge of monetary disaster, even though he followed in seemingly appropriate steps required to climb the ladder to success.
His adopted father had the school education of 8th grade; what his adopted father had was a key understanding of finance, of assets, debits, expenses etcetera and had over time become incredibly wealthy.
Now how Robert came to adopt rich dad is by way of Rich Dad's son Mike. The two of them were close friends and at a young age (3rd grade). They had made the decision that they would like to become rich. The wanted to make money. Which is what they quite literally did attempt to do. They went around and collected empty toothpaste tubes, created a cast, and began to mint their own nickels. Rich dad saw this and while found the overall situation to be humorous, he informed them of the imposing legalities of their situation and offered to have them stop by his office to work for him. Initially, the boys worked for him for a very low wage, 10c an hour! After some time, Rober becomes fed up and demands a raise or else he is going to quit. Whereby rich dad imparts a critical lesson: Most people will work for the money and if they don't receive the respect or monetary wage that they feel is appropriate, they will go elsewhere. However, once they do so, they find themselves in the same situation. They were more than likely going to accept a paycheck knowing that they will struggle financially. Some may even take a second job, working harder and still accepting a measly gain. Robert asks "So what will solve the problem?"
Rich dad points to his head and says "This stuff between your ears." All of this is distilled into what Robert calls lesson #1 :
"The poor and the middle-class work for money. The rich have money work for them."
What's entertaining is that immediately following this even, rich dad has the boys work for him for free! This imparted the lesson that you work to gain knowledge, not necessarily money AKA the rich don't work for money.
He then proceeds to illustrate in the book through a few diagrams of how the rich and poor view their money in a cash flow pattern and how the poor view the job as income and expenses as food, shelter, transport, etc, neglecting the assets and liabilities columns. The middle class is fairly similar with income being received for their job, however, they do tend to recognize the liabilities column.
Where the rich differ is that they have an assets column in which you will find stocks, bonds, real estate and intellectual property which will provide them with their income, which they continue to invest into more assets. Assets create wealth. Seems like a fairly simple formula. The major takeaway here is not so much that assets create wealth, it's how to identify an asset, that little gem didn't really seem to present itself clearly while reading, but it is there nonetheless!
These views and philosophies are fully fleshed out in the remainder of the book, denoting that most or many will fall prey to the ongoing rat race whereby they build a substantial amount of debt through poor financial education and ultimately have to work in order to stay the course. Rarely being able to lift above and see a way out.
Robert offers some alternative views on how we are taught to view finances, and not everyone may agree nor may follow his advice. He does suggest that if you are not willing to take risks and prefer to follow another route, that you should begin at a very young age to invest. It may take a while longer to create a fortune for yourself, however, it is the recommended way! I don't think that you can look anywhere in the financial world and that same advice is not given!
While this touches on the surface of what is in this book, I do hope that it whets your appetite to continue to read even if it is to teach your children or others about financial literacy.
Overall the book was a simple read with an easy flowing storytelling style, and it filled my own head with plenty of food for thought!
On a scale of Rich Dad to Poor Dad, I found this to be a fairly enrichening read!
I really liked this viewpoint that his "rich Dad" had, his perspectives are not only informative but very profound verses the lame and non-growing philosophies of the "poor Dad" who has the older ways set in his mind on what money is (just live pay check to pay check & fight a rat race to keep up with taxes and bills).
Great book for anyone wanting to learn about the importance of their own financial management with some interestingly simple diagrams and details. This author made his money through real estate investments, taking bold risks then finding new businesses & real estate properties to invest and risk in. I have no idea why people bash this book, yes it does not give you the absolute detailed account on how you person X can immediately become rich, but it does provide a blue print and a mental approach. Working hard and earning money honestly is very important, and Kiyosaki reminds people to also work their brains more.
I am in total agreement with him on America's failed public school system, I learned NOTHING about money, investments, or finance from school. We were taught that big money people were bad, or greedy and got their income by stealing which i is nothing BUT A LIE, because in American society despite the rougher economy of today just about ANY PERSON can do well if they throw their heart, soul, and brain into something.
He doesn't get political at all in this book, but in my own mind I felt we had a lot in common being we both served as combat veterans and had a "can do" positive attitude. And just as importantly he doesn't strike me as a guy who thinks he is entitled to anything, nor does he come off as a "big government nanny state guy" because his poor Dad seemed to love the idea of a noble lower middle class guy who looked at government as being the foundation of life's happiness and security, when nothing further from the truth is the reality. With the exception of the military, the fire dept, and the police in my mind the government is HORRIBLE, and only Far Left Wing pathetic LOSERS want less free market capitalism and business successes and MORE big government running our occupations and lives. If you want to be a total NO GOOD first class bum and loser, then keep supporting the Far Left's ideals and remain in the gutter. If you want hard work, risk, a positive attitude, and success which might include earning a lot of money then take Mr. Kiyosaki's advice by reading his books.
I also agree with him, people born into money just inheriting it with out earning it lose it fast. Financial success is all on both risk, knowledge of the market, learning to LOSE money and NOT win learning from mistakes, mental and physical discipline, while also hard work where one does their homework. Good book worth your time & money if you want to learn how to be successful and NOT be a poverty induced loser.
Top reviews from other countries
You cannot argue with one Kiyosaki's opinions. Our (and the American) education system just does not teach you how to deal with personal finance. If it did, Barclaycard would be in receivership. Understand the value of a pound and make it work for you - it shouldn't be such a distasteful subject. Kiyosaki offers some basic common sense approaches that you could apply in order to make your money work better, but he often qualifies advice by stating the approach may not be right for you. Therefore step one could be Learn to Understand Yourself and Your Motivations. Once you've done that, apply your mind to making money if it interests and excites you. If it doesn't, fair enough. Perhaps the process will help you discover what actually does make you tick.
For those interested in making a stack, then the advice is again about learning. Choose who and what you learn from - teachers, friends, books, tapes, seminars. Look for new approaches. Find people who want to buy and sell something to them. Try to make your profit when you buy, not when you sell. Investigate stocks, real estate, whatever. Find people who can do a good job for you and reward them well. I especially liked his advice that you'll only receive when you learn how to give, and as the book progressed Kiyosaki seemed to "lighten up" a bit more and came across a bit more human. In the later chapters he relates a lot more personal anecdotes and pithy tales about the upsides and downsides of trying to make money. It's not all a bed of roses, but it shouldn't be life or death either. Making money is just a challenge, and you should enjoy it. If you're successful, you can reap the rewards, even if that's choosing to donate it to other people or causes.
In summary, the book is an easy and likeable read. I'm sure most people will get something out it on their road to understanding. Will this book make you rich? Of course not. The only thing that will do that, as the book constantly reminds you, is you, your brain and the action you take.
A MUST READ.
on the path to becoming financially independent of their jobs.
There are 2 ways to look at this book.
One way is as i did to look on it as a kick up the backside to your way of thinking about what assets are and what aren't and how you can apply legal tax laws to re-invest and then spend money you earn from those investments BEFORE paying taxes on it. This in turn makes you wealthier.
The second is to delve deeper into the author -It is said that when people researched the author he had no discernable business interests UNTIL he wrote this book so the book is in fact his own way of becoming
financially independent - If you sell one million books telling people to change their thinking on money you automatically become as successfull as the book implies.
There are folk who will tell you that this book reeks of the second but if you do as one of the Authors main detractors did then in my opinion you deserve what you get.
I myself used it as a guide to reminding me that if you use some of the wages from your job to buy bonds and other income generating assets then eventually you will start to see some money back. As long as you don't expect to trun into the next Donald Trump or Richard Branson just by reading this book you'll be fine.
If i was thinking of buying this book i would say it is quite a long read with the author repeating himself, persevere and you may gain a little insight into how money works - you'd be surprised. I already knew a lot of what this book teaches because i have some friends who are self employed and claim the cost of a car (purchase, fuel, tax, insurance, parts) as tax free income, along with business clothes and certain other things. That is sort of what is going on here.
It's important to note the author DOES NOT tell you how to make the money i.e. he doesn't say go out and buy a repossesed house and rent it out then buy municipal bonds etc, he only advises you to look at your income and what you spend it on a different way.
I've no doubt it'll help most folk but not in the way you think....























