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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 is a starting point for anyone looking to gain control of their financial future USA TODAY Robert Kiyosaki's work in education is powerful, profound, and life changing. I salute his efforts and recommend him highly Anthony Robbins --This text refers to an out of print or unavailable edition of this title.
About the Author
A 4th-generation Japanese American, Kiyosaki was educated in New York before joining the U.S. Marines and serving in Vietnam as a helicopter gunship pilot. In 1977 he founded a company producing Nylon and Velcro 'surfer' wallets which became a multi-million dollar business. --This text refers to an out of print or unavailable edition of this title.
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Top Customer Reviews
I think it should be concerning to potential buyers that most of the recent 5-star reviews are overly short, vague, and look likely to have been solicited to artificially improve this book's rating. I have no proof of this, but it is suspicious.
In any event, I can see why people are drawn into this book and the Rich Dad company that Robert Kiyosaki has built for himself. I consider myself financially savvy, and even I found myself drawn into his works. The general ideas sounded great, and lined up nicely with what I have been learning over the years in teaching myself how to manage my money. Additionally, the whole book is given a great big vote of confidence by "rich dad," Kiyosaki's personal financial advisor and super-successful father to his childhood friend.
The problem is, there is no rich dad. Everything about how Kiyosaki had this childhood mentor who taught him all these great life lessons about personal wealth is a work of fantasy. Here is an exact quote from Kiyosaki himself when pressed by SmartMoney Magazine about who rich dad really was: "Is Harry Potter real? Why don’t you let Rich Dad be a myth, like Harry Potter?" He boasts of several major real estate flips of which there are no public records. He also claims to buy the majority of small companies right before their share price sky rockets, then makes big money on the proceeds. Except, anyone that owns more than 5% of any publicly traded company is required to report the sale to the SEC. Kiyosaki's name is not on any of these reports. There is also a large pile of evidence that Kiyosaki became wealthy only after this book and his subsequent line of financial-advice products became best-sellers. To be sure, that is one way to get rich, but it is notably absent from the rest of his "profound" advice.
Admittedly, he does have some good points. Ones that I personally think are worth remembering for anyone trying to build their personal wealth are: Learn how to make your money work for you through wise investments, understand your tax obligations and ways to (legally!) reduce your tax liability, failure is all part of the process, and school (and a sad number of parents) will leave you woefully unprepared to manage your personal finances so you'll have to learn about this area of your life on your own. That last sentence is pretty much all that can be gleaned from this book, and all of it you'd probably figure out on your own anyway.
Long story short, please read this website: http://www.johntreed.com/Kiyosaki.html before you buy into his empire. There are much better resources on Amazon and elsewhere that can teach you about money management from authors that actually built their wealth instead of selling you a bunch of false promises.
Rich Dad Poor Dad is not a great book, it is an outstandingly great book. It is the one book that you must have.
Thanks again Robert T. and Happy Valentines Day!
I also know many people who have lost their homes to foreclosure and therefore their life savings because they were dupted into thinking that a home was a "asset."
Kiyosaki's advice is right on. He is telling it like it is. It may not be what you want to hear and it may be opposed to what you were taught by early mentors, but let me ask you a question; how are those mentors doing?
Let me ask you another question: have you ever been mentored by a rich person before? Kiyosaki gives you that chance. Use it or lose it. The choice is yours.
I also recommend Rich Dad's Success Stories to get the full and true story of how Kiyosaki has positively impacted the lives of others.
His system works. Try it. You'll love it.
Most Recent Customer Reviews
advice on advising your family and kids on some quality information
Not pleased at all