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2.05k reviews for:
Rich Dad, Poor Dad: What the Rich Teach Their Kids about Money – That the Poor and Middle Class Do Not!
Robert T. Kiyosaki
3.54 AVERAGE
2.05k reviews for:
Rich Dad, Poor Dad: What the Rich Teach Their Kids about Money – That the Poor and Middle Class Do Not!
Robert T. Kiyosaki
3.54 AVERAGE
Read on a recommendation by a friend as part of a 2023 reading challenge.
My first one star review. I didn't strike this off from my TBR, because hey, you can always be wrong! Might as well read it just to see if I could get something out of it. And to some small extent I did.
To be fair, there are a few pieces of salient advice here and there. Investing in assets is good. Houses aren't investments. There's something to be said for some of Kiyosaki's words on mindset as well, and on working to learn (indeed, I think that while I'd not call him a visionary, this is one aspect where career centers did essentially pick up on that).
That being said, when the advice is bad, it's really bad, and that's what sinks this from a 2 or even a 3 to a 1. "Do a little insider trading, y'know, the 'legal' kind, as a treat" and the whole dismissal of ethical and legal corporate responsibility boils my blood as someone who's worked in compliance. As much as Kiyosaki says not to be arrogant, there's a sense of contempt where he can't understand those who would stay in "The Rat Race." Moreover, the book is frequently repetitive, inanely so. Repetition may boost learning, but this reads like a college freshman trying for a word count. In fact, several times Kiyosaki admits he isn't an especially good writer and that he views books as marketing opportunities, so I don't especially think he holds his readers in the highest esteem. To Kiyosaki, what people who don't want to speculate extensively are is chumps who serve as lessons in failure. That's a bleak way to view other human beings.
He also points out that one should strive to be an owner rather than an employee, which, the socialist part of me is tempted to say, why not both? He addresses systemic problems and then turns aside from them, acting as if merely everyone else was as rich as he was, we'd be living in a utopia. Some of his examples are downright laughable knowing what we know now. Even with the main trope of the book, the two dads, it appears that at least one dad is an amalgamation, and goodness, does it read like it. Such strained dialogue.
Basically, all the good advice (and there is some to be found here) you can get from this can be found somewhere else. Even the lien investment recommendation (which I'll have to look into) was picked up by Kiyosaki from another book.
If you want a look into Kiyosaki's principles and values, what makes him tick, this would be a fairly serviceable read. I might even give it a 3. But that's not what it claims to be, so it goes alllll the way down. Goodbye and good riddance.
My first one star review. I didn't strike this off from my TBR, because hey, you can always be wrong! Might as well read it just to see if I could get something out of it. And to some small extent I did.
To be fair, there are a few pieces of salient advice here and there. Investing in assets is good. Houses aren't investments. There's something to be said for some of Kiyosaki's words on mindset as well, and on working to learn (indeed, I think that while I'd not call him a visionary, this is one aspect where career centers did essentially pick up on that).
That being said, when the advice is bad, it's really bad, and that's what sinks this from a 2 or even a 3 to a 1. "Do a little insider trading, y'know, the 'legal' kind, as a treat" and the whole dismissal of ethical and legal corporate responsibility boils my blood as someone who's worked in compliance. As much as Kiyosaki says not to be arrogant, there's a sense of contempt where he can't understand those who would stay in "The Rat Race." Moreover, the book is frequently repetitive, inanely so. Repetition may boost learning, but this reads like a college freshman trying for a word count. In fact, several times Kiyosaki admits he isn't an especially good writer and that he views books as marketing opportunities, so I don't especially think he holds his readers in the highest esteem. To Kiyosaki, what people who don't want to speculate extensively are is chumps who serve as lessons in failure. That's a bleak way to view other human beings.
He also points out that one should strive to be an owner rather than an employee, which, the socialist part of me is tempted to say, why not both? He addresses systemic problems and then turns aside from them, acting as if merely everyone else was as rich as he was, we'd be living in a utopia. Some of his examples are downright laughable knowing what we know now. Even with the main trope of the book, the two dads, it appears that at least one dad is an amalgamation, and goodness, does it read like it. Such strained dialogue.
Basically, all the good advice (and there is some to be found here) you can get from this can be found somewhere else. Even the lien investment recommendation (which I'll have to look into) was picked up by Kiyosaki from another book.
If you want a look into Kiyosaki's principles and values, what makes him tick, this would be a fairly serviceable read. I might even give it a 3. But that's not what it claims to be, so it goes alllll the way down. Goodbye and good riddance.
I started this book after it was suggested to me by a financial analyst and I believe one of the main reasons why this book has been a best-seller for many years is because of its simple language and a sense of hope that even you can become rich by becoming a bit more street-smart. While there has been outrage and uproar over some of the key points that this author repeats again and again such as paying yourself first, the author does mention that he understands it isn't possible for everyone and that money is just a concept or an idea and it is what you make of it- so you can either be its master or work for it. From my understanding, the author wants you to find new ways to grow your money, be more financially literate and take calculated risks. Spend time and money on learning new skills and you never know how it'll help you in the long run.
There are certain things I found hard to digest and one among them was a lack of respect to people who are suffering student debts or people who are struggling to make ends meet as the author casually waves them away and goes so far as to say that education isn't a necessity to be rich and the poor are poor because they are financially "illiterate". Education may not be a necessity to be rich but it is certainly needed to be a decent human being.
I give this book 3 stars because it does have good concepts that a person can put to work in everyday life but perhaps he/she can be more sympathetic to the poor person than the author.
There are certain things I found hard to digest and one among them was a lack of respect to people who are suffering student debts or people who are struggling to make ends meet as the author casually waves them away and goes so far as to say that education isn't a necessity to be rich and the poor are poor because they are financially "illiterate". Education may not be a necessity to be rich but it is certainly needed to be a decent human being.
I give this book 3 stars because it does have good concepts that a person can put to work in everyday life but perhaps he/she can be more sympathetic to the poor person than the author.
fast-paced
Overall decent advice in some of the chapters, but most of what the book spouts is nonsense anecdotes and poorly backed-up arguments.
I think this taught me a bit about how to view money, time, and work, but only because I had basically zero financially-related exposure to those topics beforehand. Strong real estate investment slant.
I think this taught me a bit about how to view money, time, and work, but only because I had basically zero financially-related exposure to those topics beforehand. Strong real estate investment slant.
I was hoping for great financial advice from this book. The story is being told about the author when he was 9 years old receiving intensive financial lessons from his best friend’s father. It’s difficult to believe a lot of the questions that he was asking as a 9 year old boy. It was also difficult trying to glean financial advice that was given to a 9 year old who was getting paid 10 cents per hour and trying to apply this to modern adulthood. Could not get past this and DNF’ed.
I wanted to learn more about investing and gave this book a shot (the most reordered book at our library - between never being returned and theft). It is informative and gives you some insight into Kiyosaki's financial philosophy and what has worked successfully for him. Very interesting. I'm ready to be a millionaire now. :)
El autor nos explica a través de su experiencia y con ejemplos como adquirió su educación financiera y en base a ella su fortuna. Consejos teóricos y prácticos, además de las diferencias de pensamiento entre la gente rica y pobre.
To summarize, this book doesn't teach you how to make money. Rather, it inspires you to do so.
There was a story in this book where the author met another aspiring author, but he told that aspiring author to take up marketing, because he succeeded in selling his book well because of this skill. It is very true. The book is a good marketing product. Everyone knows this book. Yet there's little skill to acquire from it. And by not giving too much, the author can make more follow-up books.
But even that said, I find this book strongly inspiring. Because of this book, I feel like earning wages is not the way of life, striving for promotion is not the way to earn more, I tend to agree that our education system (I do not live in the US, but I would guess the conventional/traditional education system is not far off) is flawed and paid too little emphasis on financial education. But I don't really like the tone, the book sounds like a libertarian Republican that makes tax sounds evil, and poor people deserve to be poor, and deserve to be ridiculed.
I'm not sure whether I will recommend this book to other people or not. If you literally read nothing about personal/household finance management, or your dream life is built around getting more pay by getting higher promotions, then you need to read this. Otherwise, if you're financially aware, even the slightest (probably from some fancy inspirational infographics over the net), then I don't think this book serves much purpose. Go ahead and find books that really explains how to buy or sell real estate or stocks or how to start your own business and such.
There was a story in this book where the author met another aspiring author, but he told that aspiring author to take up marketing, because he succeeded in selling his book well because of this skill. It is very true. The book is a good marketing product. Everyone knows this book. Yet there's little skill to acquire from it. And by not giving too much, the author can make more follow-up books.
But even that said, I find this book strongly inspiring. Because of this book, I feel like earning wages is not the way of life, striving for promotion is not the way to earn more, I tend to agree that our education system (I do not live in the US, but I would guess the conventional/traditional education system is not far off) is flawed and paid too little emphasis on financial education. But I don't really like the tone, the book sounds like a libertarian Republican that makes tax sounds evil, and poor people deserve to be poor, and deserve to be ridiculed.
I'm not sure whether I will recommend this book to other people or not. If you literally read nothing about personal/household finance management, or your dream life is built around getting more pay by getting higher promotions, then you need to read this. Otherwise, if you're financially aware, even the slightest (probably from some fancy inspirational infographics over the net), then I don't think this book serves much purpose. Go ahead and find books that really explains how to buy or sell real estate or stocks or how to start your own business and such.
informative
fast-paced
Early in the book the advice to become more educated in matters related to money, career and self are excellent.
The rest of the book is little more than useless to actively harmful anecdotes.
The rest of the book is little more than useless to actively harmful anecdotes.