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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
by Robert T. Kiyosaki, Sharon L. Lechter
Warner Books
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List Price: $16.95
Our Price: $11.86
You Save: $5.09 (30.03%)
Release Date: 01 April, 2000
Media: Paperback
ISBN: 0446677450
Availability: Usually ships within 24 hours
Average Review: 3.87 Based on 1383 reviews.
Description:
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 nonetheless compellingly advocates 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 those assets might be acquired so that the jobs can eventually be shed. --Howard Rothman
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Customer Reviews
Average Customer Review: 3.87 Based on 1383 reviews.
5  Excellent book - ignore paid bashers
Rich Dad Poor Dad is a life changing book that is why this incredible book has been a best seller now for over 8 years and is still in the top 20 of all books being sold right now.

Kiyosaki will tell you some things you don't want to hear. He is controversial. So is Donald Trump. Rich people are always controversial, but who are the people that make Kiyosaki and others controversial? Certaintly it's not the wealthy. The wealthy agree with Kiysosaki becuase that is how they became rich.

Kiyosaki tells us that a house is not an asset. I have to admit that I had a problem with that one myself. I a lways felt that real estate was the one safe have out there and like most, was taught by parents and other early mentors that a house is an asset. Then I got a house and found out that Kiyosaki is absolutely right and so were my mentors. A house is not an asset for the buyers, people like you and me but it certaintly is an asset for the banks, real estate agents, insurance people, the local government who wack you with high city taxes and so on.

The biggest problem is that many people think that a big house is a symbol of wealth. It is a symbol of wealth to the bank. Most people tyupically take out 30 year mortgages. How much do you think banks make on that while you are paying for the equalivent of three house payments over time?

Conventional wisdom tells us to get a great education and you'll get a great job. Well it started in the Clinton era and has been escalating ever since---downsizing. People who spent tons of $$$ on a college education, invested years in their jobs being servants to their employers and for what, to be downsized?

And then there is the typical way that people invest. Conventional wisdom tries to tell us that we can't do it on oour own. We need brokers (so named because they make us broker with their advice) or other financial advice. Those who do try it on their own usually get bad advice and go to deep, deep discount brokers looking for the lowest commissions or on the other end pay fees for loaded mutual funds which are supposed to be better managed (HINT: They are not!)

Kiyosaki offers a newer, better, more effective way. Unfortunately like some others who have come before him, Kiyosaki has stepped on some toes, the very people who are using your ignorance for their bliss.

Rich Dad Poor Dad is a life changing book. It is highly recommend for anyone who really wants to survive the new millenium.

I highly recommend Rich Dad Poor Dad, Rich Dad's Guide to Investing and Rich Dad's Success Stories (prooves that Kiyosaki's naysayers are wrong as usual)

Good luck!

5  Stop Reading Reviews and Buy this Book
Every day you delay reading this book costs you money. I read some of the positive and negative reviews on this book and was compelled to put in my own two cents. This book and the sequel (Cash Flow Quadrants) were two of the most eye opening books I have read on personal finance. I am by no means an expert, but I have read at least 50 books in this area. One of the reviews I read stated this book was weak compared to The Motley Fool's... and The Millionaire Next Door. I have read both of these books, and I completely disagree.

Rich Dad Poor Dad is not a get rich quick book, nor is it a book explaining one person's technique on creating wealth. It literally teaches the fundamental principals and thought processes required to develop wealth. I have recommended this book to at least 100 people and have gotten nothing but positive feedback. This book is a must read for anyone who has the itch to develop passive income.

Disclaimer: As great as this book, I do not recommend reading it until you have taken control of your day to day finances. If you are living above your means, you need to gain control before you try to multiply. Read Financial Peace by Dave Ramsey first.
1  Worth Learning the Facts
Some extensive research has been done on Kiyosaki, so I won't bother repeating it here (I also want to avoid getting ripped by the 5-star reviewers who revere Kiyosaki in cult-like fashion . . . pretty creepy). Learn (and think) for yourself: http://www.johntreed.com/Kiyosaki.html

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