- Series: Rich Dad's
- Paperback: 403 pages
- Publisher: Time Warner Books; 1 edition (June 1, 2000)
- Language: English
- ISBN-10: 0446677469
- ISBN-13: 978-0446677462
- Product Dimensions: 6.2 x 1.2 x 9.2 inches
- Shipping Weight: 1.1 pounds (View shipping rates and policies)
- Average Customer Review: 3.7 out of 5 stars See all reviews (246 customer reviews)
- Amazon Best Sellers Rank: #546,193 in Books (See Top 100 in Books)
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Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and Middle Class Do Not! 1st Edition
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The rich are different from the rest of us, if for no other reason than U.S. tax and securities laws allow them to invest in ways that keep us from catching up to them. That's why 90 percent of all corporate shares of stock are owned by 10 percent of the people. Kiyosaki believes it's possible for anyone to move up into that 10 percent, but it takes a different view of investing than most people have: it takes a plan to be a successful investor. And a plan is more than simply buying and selling, or collecting "assets" that bring in no cash and are thus more akin to liabilities. The way most people invest, "they might as well be pushing a wheelbarrow in a circle," he writes. A plan is "mechanical, automatic, and boring," a formula for success that has worked historically for most of those who've used it. Kiyosaki's "rich dad" (actually, the father of his best friend) tells him the simplest analogy is the game Monopoly: buy four green houses, trade them for one red hotel, and repeat until you become rich.
The overall message of Rich Dad's Guide to Investing is that this is an abundant world, full of opportunity for the sophisticated investor. However, it sometimes takes a while to find this point. Much of the book is told in dialogues between young Kiyosaki and his rich dad, and these conversations can ramble. There are rewards for the careful reader--for example, in the middle of a section on the basic rules of investing, Kiyosaki's rich dad compares investor education to toilet training: difficult at first but eventually automatic. But getting to these inspired metaphors means wading through a lot of repetitive dialogue. It's a bit ironic that someone who advocates investor discipline should show so little as a writer. But by the end of the book, even the rambling starts to make sense. By the hundredth time you read that the rich don't work for money, and that you don't need money to make money, both concepts start to make sense. It still looks difficult to apply these ideas, but Rich Dad's Guide to Investing certainly makes the case that they'll work for anyone bold and smart enough to practice them. --Lou Schuler
"Investing means different things to different people. In fact there are different investments for the rich, poor and middle class. Rich Dad's Guide To Investing is a long-term guide for anyone wanting to become a rich investor and invest in what the rich invest in. As the title states, it is a "guide" and offers no guarantees...just as my rich dad offered me no guarantees...only guidance." Robert T. Kiyosaki. Author of Rich Dad, Poor Dad & Rich Dad's Cashflow Quadrant --This text refers to an out of print or unavailable edition of this title.
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Top Customer Reviews
One of the best ways to learn is to have a successful mentor who will guide us through the key challenges of getting started. This book is designed to duplicate the experiences that the author had his his rich Dad. For example, the key questions that rich Dad asked him are at the end of each section for you to answer for yourself. I found my answers to be revealing, even though I have been through a lot of similar sets of questions. Well done!
The story line picks up after the author is coming out of the Marines in his twenties to find his boyhood friend already wealthy from his own efforts.
The financial advice parts of the book are tied into helping you pick up a meaningful financial plan. You begin by deciding what you want money to do for you. That's an excellent thing to do. Some want security. Some want more income. Others want substantial wealth that keeps growing. You should decide. Some books make the mistake of pushing you to choose a goal that really isn't what you want. Rather than push you in a particular direction, the book emphasizes key principles (compound cash tax-free, create assets with your mind as well as with your money). The author notes that each of us has preferences that will take us in different directions for implementing whatever our goals are. I liked that approach a lot.
You will recognize a lot of the diagrams from Rich Dad, Poor Dad. But it is good advice, so it doesn't hurt to have the repetition. This part is fairly compact, so you can skim through it if you feel confident about the material.
This book would be outstanding as a gift for someone who is about to graduate from school and starting a first job, or for newly wedded people. It would be even more valuable if you would be a mentor for the person you give it to, like one of your children or grandchildren.
If you get to be good at this now, think how great it would be to be the rich Dad for your children and their friends. Now that's an irresistibly great goal!
Enjoy the riches you would like to have, for the reasons you would like to have them!
First off, I've been studying money books for almost two years. Most of them were for the middle class which told you to play it safe and diversify. Answers were little and fear was great. Basically, if you had a lot of time, you could at least retire adequately from those books.
So then I found RK last May and what a change! This was exactly what I was looking for: not people who couldn't walk the talk but people who had done it and done it well. Understand that RK and his wife lost most of their money and had to live with a friend (it's in their second or third book) but there's no shame in this per se as some people feel. This guy is basically telling you about his mistakes, at the risk of being attacked, and letting you avoid them.
I've played CASHFLOW 101 about 30 times and moved on to 202 and have played it about a dozen times now. THe group I am with is positive and training their minds to see the invisible. One guy has already started to do r/e deals in Calif and while he is still looking around in a tough market like the Bay Area, he's moving along.
RK's books are really about opening your mind to the possibilities as cliche' as it sounds. Once you decide to specialize in a particular investment vehicle (i.e. real estate, MLMS, stocks, etc), you will need to get the information from other sources.
In RDGTI, RK covers how he got started in investing. Now, some of this information will be out of your league unless you want to become a big time rich person but the most important thing is learning how he thinks. When you know he thinks, that will help you even more so in your future investments.
The important things RK's books do is give you smidgens of various fin. vehicles and, more importantly, teaches you to believe that the possibilities are out there.
Let me stress that again: the possibilities ARE out there. The problem is: most Americans have trained their mind to believe there are very few and they cannot get them so they repeat this vicious circle. That's the biggest problem I've noticed since training my mind and learning.
You've got to believe and you have to start seeing the possibilities: or, seeing the invisible as RK calls it. Once you start doing that, you're on your way.
After this book, check out his audio casette series RICH DAD'S GUIDE TO FINANCIAL LITERACY (advanced) or YOUR FIRST STEPS. You can also check him out at RICHDAD.COM . . .or, you can get these items for less at ebay or your public library or half.com
The important thing isn't so much as where you get it but that you use it, learn it and apply it.
REVISION NOTE AS OF 09/05/03: I am at a loss for words as to why the RK books are getting slammed on Amazon. These are the books I started with two years ago, which inspired me to be more and never work a day job again. Since then, I won't say I haven't lost money but I've made more money and things are only looking up. Additionally, I've gotten involved with a group of other investors, who were all inspired by those books. In fact, if it wasn't for the RK books, I and my other colleagues wouldn't be on our ways to financial freedom.
So, when people slam RK and tell me it doesn't work, I just shake my head and realize that these are people who are living in their delussions. Everyday I'm surrounded by people who have accepted their financial cages and think things are too good to be true. Until they change their perceptions of abundance and money, they will forever be constricted.
I used to think like that and had a dead end day job. Now, I'm making more than ever and, in less than five years, I plan to be financially free.
Good luck to those who keep an open mind.