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
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Book Summary Information
Author: Robert T. Kiyosaki, Sharon L. LechterEdition: Paperback
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2000-04-01
ISBN: 0446677450
Number of pages: 207
Publisher: Business Plus
Book Reviews of Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
Book Review: It's Okay but Stick to What Works.
Summary: 3 Stars
I just finished reading Rich Dad, Poor Dad (and probably spent way too much money but that's beside the point). It's a great book with lots of financial tips and advice. However, a lot of it has to do with just plain old common sense. Spend less than you earn, save money, and invest wisely. That's all there is to it.
I'm a bit skeptical on Robert's brilliant memory...a lot of the recollection he had when he was younger sounds more like a script for a drama than an actual conversation between a young child and grown adult. I'm also skeptical on the house ownership being a liability, than an asset. Wouldn't that fall under the real estate investments he often talks about in the book? It doesn't matter if you own land, buildings, etc...you still pay taxes on it. I'm also still not sure how $2K monthly in assets and $2K montly in liabilities makes one wealthy. According to my calculations, that makes one broke.
I, for one, don't buy his 'Don't go to school' advice. My college degree has paved the way for many opportunities; one of them being around rich and wealthy people who gave me excellent financial tips, and which I'm still generating much income today as a result. Do not knock the value of an education and what it can do.
So I do recommend the book, but keep an open mind and don't take everything he says to heart. Don't just quit your job the next day unless you have a plan as to what you want to do.
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Summary of Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
Rich Dad, Poor Dad chronicles the story of the authors two dads, his own father, who wa the superintendent of education in Hawaii and who ended up dying penniless and his best friends father who dropped out of school at age 13 and went on to become one of the wealthiest men in Hawaii. Kiyosaki uses the story of these two men and their varying financial strategies to illustrate the need for a new financial paradigm in order to achieve financial success in the new millennium.Introduction Books
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