Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Mass Market Paperback – Illustrated, April 11, 2017
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- Item Weight : 7.2 ounces
- Mass Market Paperback : 336 pages
- ISBN-10 : 1612680194
- ISBN-13 : 978-1612680194
- Dimensions : 4.25 x 1 x 7 inches
- Publisher : Plata Publishing; Second edition (April 11, 2017)
- Language: : English
- Best Sellers Rank: #802 in Books (See Top 100 in Books)
- Customer Reviews:
Top reviews from the United States
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Some people complain that this book does not give a step by step process for change. I would counter that one size shoe does not fit all feet. There are many individual paths to wealth, and Kiyosaki sets the guiding stars to navigate by, but you have to walk your own individual road.
Some key concepts of this book are: 1) Assets put money in your pocket even when you are on vacation. Liabilities take money out of your pocket, therefore your house is a liability [unless you rent out rooms and the garage as one person I know did while rebuilding his asset base].
2) Wealthy people buy assets first, and then let their assets buy their luxuries from the surplus cash flow.
3) Wealthy people continuously increase their assets by reinvesting their surplus cash flow in more assets.
4) There are 3 primary asset classes: Real Estate, Businesses, and Paper assets (stocks bonds notes, etc)
5) Cash Flow is more important than Net Worth. Net Worth is similar to potential energy, to use it you have to spend it, then it is gone. Cash Flow is like power from a hydroelectric dam, constantly replenished.
The rich don't work for money, they work for assets.
The tax laws are fair from the standpoint that the laws that the rich spent billions of dollars to have modified and interpreted apply to everyone who learns how to use them.
A great foundation book for beginning to improve your financial intelligence so that you don't work 4 or more month's of every year for the Tax man, more months for the banks that hold your mortgage and credit cards, and whatever is left making the company you work for wealthy. Good luck on your journey to being Rich, poor, or middle class.
Top reviews from other countries
It is a book which taught me the thought process of poor and middle class people where I belong, which laid foundation towards progress of my thoughts about financial wisdom.
I was very intrigued about tax system and determined to read more about taxes and shocked about poor and middle class people who will pay more taxes than rich.
Detailed description about difference between assets and liabilities was best part and how to develop your asset column by investing in yourself to escape from rat race and retire early and let assets will make money for you was where I got interested.
1. This book helps to find out HOW to use your money to make money for you.
Read it again:
HOW to use your MONEY to MAKE MONEY for you.
2. It just changes our financial viewpoint towards money.
3. It explains why the poor people try to save money, whereas the rich INVEST.
4. It teaches you how to grow financial habits of the rich, even when you are not making money.
5. Literally, it gives you freedom from MONEY!
1. Some sellers are selling the cheap xerox copies of the book, try to buy only from Amazon Prime Sellers.
So, if you are ready to get ALL your financial practices proved wrong, try out this book! It will at LEAST show you how to live a FINANCIALLY HEALTHY & worry-free lifestyle.
If you liked our review, do give it a Helpful vote...it helps:)
On the other hand this book reads as very insincere and the stories which the author tries to portray as real life examples all come across as hypotheticals. I'm tempted to say that this best selling author who is supposedly an investor has probably made the bulk of his profits through this book and not investments. I say this because his own personal investments relayed in the book are not very detailed and provide no lessons. They are simply a repetition of - I bought a property at a cheap price and sold it at a profit... every time.
I'm disappointed in myself for having contributed to the authors business but there was a little benefit, though maybe not worth the investment. This is my first exposure to business related books. I'm sure there are better out there so my advice would be to start elsewhere.