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Rich Dad Poor Dad: What The Rich Teach Their Kids About Money - That The Poor And Middle Class Do Not! Kindle Edition
Robert has challenged and changed the way tens of millions of people, around the world, think about money and investing and he has become a global advocate for financial education and the path to financial freedom. Rich Dad Poor Dad (and the Rich Dad series it spawned) has sold over 36 million copies in English and translated editions around the world.
Rich Dad Poor Dad will
explode the myth that you need to earn a high income to become rich
challenge the belief that your house is an asset
show parents why they can’t rely on the school system to teach their kids
about money
define, once and for all, an asset and a liability
explain the difference between good debt and bad debt
teach you to see the world of money from different perspectives
discuss the shift in mindset that can put you on the road to financial freedom
- LanguageEnglish
- PublisherPlata Publishing
- Publication dateSeptember 18, 2015
- File size10512 KB
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Editorial Reviews
Review
"Rich Dad Poor Dad is a starting point for anyone looking to gain control of their financial future." - USA TODAY
About the Author
Product details
- ASIN : B0175P82RA
- Publisher : Plata Publishing (September 18, 2015)
- Publication date : September 18, 2015
- Language : English
- File size : 10512 KB
- Text-to-Speech : Enabled
- Screen Reader : Supported
- Enhanced typesetting : Enabled
- X-Ray : Enabled
- Word Wise : Enabled
- Sticky notes : On Kindle Scribe
- Print length : 182 pages
- Customer Reviews:
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
Reviewed in the Netherlands on February 18, 2021
Al final da algunos pasos para el cambio de pensar y el estatus financiero del lector, pero no es un libro práctico para crecer económicamente, y Kiyosaki lo sabe :)
Lo recomiendo como un buen comienzo del cambio de perspectiva sobre el dinero y para estudiarlo de vez en cuando después de la primera vez de leerlo.