Rich Dad, Poor Dad

Personal finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated, but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book is nonetheless a compelling advocate for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how the former might be acquired so that the latter eventually can be shed. --Howard Rothman, Amazon.com

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Life changing - Rated
The title of this review says it all. If you are open minded and willing to change your ways, then this is for you. Gave me new perspective and i hvent looked back. a must buy.

Gives a fascinating perspective on wealth - Rated
The book is excellent at explaining the fundamental differences in the approach the rich have to money compared with the not rich. A lot of what Kiyosaki says is a real eye opener and really makes you sit up and think about wealth creation in a totally different way. For instance, every home owner regards their home as an asset, buy Kiyosaki explains that the mortgage to pay for your house takes a huge part of your salary away and a house shouldn't be regarded as an asset, but as a liability. I think many would agree with this!

He also discusses starting your own business and makes some excellent points here, highlighting the fact that 9 out of 10 new businesses fail within a year, and of the ones that survive this, most go on to fail within 5 years. He actually advises against starting your own business and instead recommends focussing on starting a side business to supplement your day job.

This book is quite a revelation, my only criticism is that it doesn't actually present any money making ideas, it's more an inspirational book. Definitely worth a read.

Indulge yourself - Rated
I enjoyed Rich Dad, Poor Dad in a self-indulgent kind of way. It would appeal to the inspirational and aspirational type of person. Definitely not a guide for entrepreneurs - more of a self-help, confidence builder type of book. It was such an easy read - no more than a few hours cover to cover.

If you want to "live rich" and "collect assets", then buy this one! - Rated
This is one of those exciting books where the person I was before I read it and the person I am now are two completely different people. Rich Dad, Poor Dad completely changed my thinking; the way I thought about money and how it worked or didn't work for me. The book outlines a (thinking) trap that so many people fall into and Robert Kiyosaki steers you into another direction based on common (financial) sense, rather than one which follows the crowd. And there's the sting: I think the ideas in this book will set you free but it's the start of a great commitment to be different and step out in his faith. I'm not building up my own empire like Robert Kiyosaki but I am governing my finances and making smarter decisions about my future and that's no small thing. If seeing your money, as "employees" who work 24/7 and never leave, is exciting then this is the book for you.

Common Sense Financial Advice But Ignore Knowledge? Na - Rated
If you've never had the common sense to work hard, spend your income within a budget, reduce your debt and save your money in assets, which generate cash in return (making your savings work for you) then this book is for you. Mr Kiyosaki explains how the rich instinctively know this principle and teach it to their kids, whereas most of the middle class work just to pay bills and keep up with the rat race. He contrasts this attitude to money using the examples of his poor but highly educated father and his best friend's father-rich dad-who was barely educated but rich. Much of his explanation of how to save, budget and invest is good, common sense. However, that's as much praise as I will give Mr Kiyosaki's book.

The author spends the rest of the book deriding education and gloating over how special he is; how he learnt marketing at Xerox, bought and sold houses to become wealthy and retired at the grand old age of 45. Most of this is harmless twaddle but, I think, his deriding of knowledge in an increasingly knowledge-based economy is unforgivable.

In a world that is increasingly driven by advances in computing, internet technology, biotechnology and globalization, Mr Kiyosaki's focus on money for money's sake (at the expense of education) is utter nonsense. Yes, money is very important but the knowledge and management skill to generate that wealth is equally important. Let's break down the success of his "rich dad": he was a self-made man, the boss of his own company, which made garments. That industrial model for success is vital and important today, especially in the Third World, but pales in comparison with the success of Google, Amazon, Microsoft and other technology giants.

I suspect that "rich dad", whom he lionized so much in the book, is a product of his fecund imagination. If he did exist, then Mr Kiyosaki's real (poor) dad must feel a sense of shame and disgust. Imagine reading your son's book in which he states that you (dad) are a complete loser and that the uneducated father of his best friend was his childhood hero. That must have broken his father's heart.

We cannot all be entrepreneurs. Capital without the necessary knowledge and skill to drive economic growth is useless. We need the combination of both in a fast-changing world. That Mr Kiyosaki chose to ignore knowledge in this equation is near criminal. In deriding the education of his "poor dad" Mr Kiyosaki lost my approval. This book deserves 2 stars.