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jessgrieser 's review for:
Rich Dad, Poor Dad
by Robert T. Kiyosaki
I read this in a single day, in almost one sitting.
I can see why it appeals so widely, in that RD,PD is promising that wealth accumulation is simple if only you understand how to make your money work for you. Kiyosaki explains a good deal about corporations and tax sheltering, and why saving won't make you rich.
However, unlike most personal finance books, this book offers very little in the way of real guidance. Even the "ten steps" at the end of the book are but a meager introduction into how to follow in Kiyosaki's footsteps. So while it may snap your mindset a bit, it offers very little in the way of concrete advice.
One of the main problems I have with this book is that while Kiyosaki defines your wealth as "the number of days you could live off your assets," he continues through his vignettes to define "being rich" as being a multimillionare. I'm not even certain that he's aware of this, since he takes pains to define wealth in other ways related to freedom, but the overall impression he gives by telling his own story is that "rich" means getting millions of dollars of income our of your assets, in his case, mostly real estate.
If you're interested in real estate and its potential benefits, this is probably a good read. And the chapters on understanding liabilities vs. assets (and how many people put things that are really liabilities into the "asset" column) are good reads. But if you're looking for a book that will more accurately deal with the financial mindset you need to get ahead, and will deal with the reality that some people don't desire to make millions and millions, just to be financially secure, this book doesn't cut it.
I can see why it appeals so widely, in that RD,PD is promising that wealth accumulation is simple if only you understand how to make your money work for you. Kiyosaki explains a good deal about corporations and tax sheltering, and why saving won't make you rich.
However, unlike most personal finance books, this book offers very little in the way of real guidance. Even the "ten steps" at the end of the book are but a meager introduction into how to follow in Kiyosaki's footsteps. So while it may snap your mindset a bit, it offers very little in the way of concrete advice.
One of the main problems I have with this book is that while Kiyosaki defines your wealth as "the number of days you could live off your assets," he continues through his vignettes to define "being rich" as being a multimillionare. I'm not even certain that he's aware of this, since he takes pains to define wealth in other ways related to freedom, but the overall impression he gives by telling his own story is that "rich" means getting millions of dollars of income our of your assets, in his case, mostly real estate.
If you're interested in real estate and its potential benefits, this is probably a good read. And the chapters on understanding liabilities vs. assets (and how many people put things that are really liabilities into the "asset" column) are good reads. But if you're looking for a book that will more accurately deal with the financial mindset you need to get ahead, and will deal with the reality that some people don't desire to make millions and millions, just to be financially secure, this book doesn't cut it.