Rich Dad Poor Dad: What the Rich Teach Their Kids about Money That the Poor and Middle Class Do Not!

Rich Dad Poor Dad: What the Rich Teach Their Kids about Money That the Poor and Middle Class Do Not!

by Robert T. Kiyosaki
4.1 519

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Rich Dad Poor Dad 4.1 out of 5 based on 0 ratings. 519 reviews.
Anonymous More than 1 year ago
Rich Dad, Poor Dad explains the differences and distinctions between how the rich class, and the poor and middle classes manage their money. The author differentiate throughout the entire book explaining how his best friends dad, the "Rich Dad" was so successful. One of the main significances that were emphasized was "working hard" was different from "working and spending smart". For example, you can be the hardest worker in the building, but, if you are not smart on managing your money, you can have nothing to show for it. The Poor Dad is considered to be more government based, relying on other people to make monetary decisions, especially when it concerns taxes. The Rich Dad in more corporation based, being more proactive and finding ways to keep more of the money earned. This book explained economics in a way that was realistic and encouraging. The fact the author explained it in a way that anyone can follow his methods and be successful. It was able to keep my interest from the beginning to the end. It gave real world examples of how to manage my money and make smart investments to build my asset column. Before reading this book I had no knowledge or interest in starting to build an assets column at my age. This book gave me an understanding on what exactly determined an asset and how to start building a portfolio that could benefit me now and in the future. It is never too early to start. The most helpful thing that I gained from this book was to look at things as; a want versus a need. I realize that I have more wants than needs. Reading this book as a teenager has pointed me in the right direction of knowing what determines an asset and what determines a liability.
Poordadrichlife More than 1 year ago
Robert Kiyosaki has lived with two dads. The poor dad, who was his biological father, went to the ivy league schools and received a doctorate degree, however, always ended up financially poor. The rich dad, was his friend's father, who only received education up to 8th grade, understood how to invest in money. He explains that it's all in the mental process. For instance, if job wages are low the common thought is--"I can't afford it" or "how can I afford it?" The poor dad would say he can't afford it, automatically shutting down his brain and accepting the state that he's in to save money. On the other hand, the rich dad tries to figure out a way to make more money and not dwell on the fact that the wages are small. This theme of differences in principals and financial methods is what continues on throughout the book. The common problem is that people in school are not taught about money. The average dad, also the poor dad, tells their children to work hard in school and get a steady job in a good company. In other words, he believes in the traditional ideas of working hard, preserving money, and not wasting it on material things, especially things he can't afford. The situation is that the poor dad was always more focused on education, rather than money, and commonly thinks "money doesn't matter". The poor dad also dwells on company insurance, security, and salary raises, instead of actually focusing on the job itself. This is what the rich dad calls the "Rat Race" in which one can never leave this cycle of being poor with this mindset. The rich dad did not spend time for education, but instead invested it on investing. The rich dad is seen as someone who learned to take risks, instead of not taking them, and by doing so, was able to have money work for him, instead of him work for money. I was shocked as to how much I was able to see these common thoughts portray in my life, and that my father fits perfectly under the category of a poor dad-- a common teacher, who loves to learn more but doesn't really like to focus on money, and constantly exclaims around the house, "we can't afford that". He also always focuses on insurance of our house, or our social security, or saving money. However, I may not live the glamorous life of having a rich father, I appreciate the rich life I live with his knowledge and determination to work hard, even if it still means to financially struggle with money. I am skeptical about not having an education, in the means to be able to become a rich dad, because I feel that without a root of knowledge then money takes over a family and have no real value. However, constantly dwelling on low wages, or in other words, to not be a pessimist, can always be a goal that families try to achieve. In the end, I found this to be book to be informative and maybe even life changing, but at the same time very unethical.
Anonymous More than 1 year ago
Pretty good book to help get you started on a more financially intelligent future. Teaches some basic principles, but can often be vague. A lot of the book teaches the same basic rules over and over most likely to cram them into the reader's mind. I ocassionally got rather uncomfortable when he would recommend some illegitimate tactics to get ahead. Such as buying new cars and other things as "corporate expenses" and using his cat as his partner. -Ethan
MLB-CA More than 1 year ago
Purchased my third copy as a gift for a friend who didn't think about getting his money working for him when he purchased his condo and is now under water with the loan. He couldn't understand how a hard working ethical person could get in so much debt. He is pretty discouraged! When I first read RD-PD I had many ahha moments that explained how to think about money. I already had the basics of attention to interest rates, paying off debt in an order and saving. I still felt frustrated. The book guided me in a complete turnaround to co-owning and assets. I changed my employment, increased my deferred comp and increased my base pay to increase retirement. I was raised in a cash household by depression era kids who recycled and bought used. I had frugal down -but not asset awareness. My folks were land oriented. Property value increases saved them from low income. Still I didn't know how to get on top until I started studying money. RD-PD is the best as a mental gear shifter.
RibbyBD More than 1 year ago
The purpose of this book (besides to make the author money) is not to give the reader a cookie-cutter MLM plan to make money; rather it sets out to change the mindset of the reader, to help open his/her eyes to opportunities. If you are looking for stock tips or ways to refi your house, pick another book. If you are frustrated with working for somebody else but need a motivational spark, then this is your book. Parts of it do read like a commercial for his other products, but what author doesn't do this? One lesson I took from the book that I won't forget is changing my attitude from "I can't afford this" to "what can I do to afford this?".
Guest More than 1 year ago
I have serious issues with Rich Dad/Poor Dad books. I have read several, including this one, and here it is: Defenders will claim that it is meant to inspire. The inspiration he offers is telling of the great amounts of money he has. He throws in a quick snippet occasionally mentioning that if you aren't rich, you have to live below your means and cut of credit cards. Since there's no elaboration there, I can only assume this is not meant for someone in debt. Who is it meant for? It's certainly not meant for someone without a plan on how to get rich. He touts real estate and owning companies. Yet he never elaborates on how you would begin this. Essentially, the only purpose this book can have is inspiration, but it left me rather depressed. In his anecdotes, he constantly bemoans his tragic fate of growing up middle-class: 'poor', he calls it. He gives no real suggestions about the steps that must be taken to get out. A note: these stories he gives have been 'fictionalized'. This is NOT nonfiction. He makes no claims that he is telling you the truth. One of the biggest flaws of his books are the number of plugs for his seminars and board games (we're not talking a measly $30 Monopoly game). He's obviously in this to make money off of the reader, not to let the reader make money off of his ideas.
Guest More than 1 year ago
In Rich Dad Poor Dad the author never ventures to tell the reader how exactly to attain wealth. Throughout the book he leads the reader through a cat and mice game 'basically dangling promises without the following through part. This book is a poor investment in ones quest to ultametly live a finanicially controlled life. The authors own personal success is the direct result of the consumers naivety. As a result he is a 'Rich Dad' through your own money and not through the system that he claims works.
Guest More than 1 year ago
The financial press investigated this guy's claims of wealth and found them false. Until he made million's on these books he had nothing. So, unless he is writing a book about writing a book, his knowledge is limited. Entertaining, but don't follow his advise. The one good point he has is to teach your kids early on about finance. Now you don't have to read the book.
Sromero15 More than 1 year ago
"If you work for money, you give the power to your employer. If your money works for you, you keep and control the power." This quote sums up practically everything that Kiyosaki has to say about being financially literate. Many of us are slaves to our paychecks when in fact we can easily find ways for our money to work for us (stocks, property, etc) College is not necessary in a financially literate man's life. I found this book to be very informative in the sense that it got me thinking about my own financial future. Kiyosaki gave me hope for a financially prosperous future through each of his six lessons. This book can be helpful to anyone even if they end up finding Kiyosaki to be a quack. This book has the potential to make people think about their own financial situation and whether or not they are satisfied with it. It is the very fact that this book can help answer one question, what they are doing wrong, financially, if anything. I really enjoyed the fact that Kiyosaki conveyed his information through a story rather than through an essay. I was able to relate to Rich Dad, Poor Dad more through Kiyosaki's characters. Seeing that Kiyosaki's characters were kids, they asked a lot of questions. Kiyosaki cleverly 'answered' many of the readers' possible questions through the answers that the characters got. Overall, I felt the book had a lot of helpful information about becoming financially literate. I always saw before reading this book that the only successful people out in this world are the rich, but Kiyosaki has taught me that someone can make any amount of money and be 'well off' as long as they know how to work their money. This got me thinking of why we are not taught how to balance a checkbook or learn what 'assets' and 'liabilities' are even though the majority of our lives are going to be spent earning, saving, and spending money. The information in the book is important to everyone. There is not specific age group that should only read this book. If you are able to count money then you are able to comprehend Kiyosaki's teachings.
Anonymous More than 1 year ago
I haven't read a lot of these self-help books, and I've only read the first chapter of this one but I couldn't continue. His anecdotes of his early money making are based on illegal activity, which he sneakily nods at, like "but I didn't know." He tells a story about being stopped from actually counterfeiting money, which he didn't know was illegal as a kid. But then he talks about all the books he got and set up a pay library. He obviously knows what he did was illegal 'cause he points to a couple of key things: he notes that the woman who gave him the books or comics cut the covers off them. That's a marker that the books have been reported as destroyed and the authors-publishers don't make any money off them. And the woman tells him he can have the books so long as he doesn't sell them. He repeats the fact that he didn't sell the books a couple times. It's obvious that he knows "renting" the books, or whatever you call his pay library, is illegal. He's saying he followed the rules he was given, so it wasn't wrong. He also never remarks that he knows it was illegal. He's either assuming people don't know, or he's pretending he still doesn't know. He could've talked about the idea, the fact that he did it, and it was illegal, but he didn't know at the time, but it's the idea of making money work for you. Instead he touts it as a mark of his business acumen. I'm all for educating people in more of the complexities of the financial world, but I can't see that predicating a life and financial advice on illegal activities and "I didn't know" is a great way to teach legal financial concepts, let alone moral guidelines.
Anonymous More than 1 year ago
This guy has conflicting advice and is a scam artist. Do not waste your money on his get rich quick scam.
12345NT More than 1 year ago
Thesis: This books main idea is to tell the story of his life about his 2 parents: the rich dad and the poor dad. He shows that rich dads teach children about money and wealth and what the middle class or poor classes' dads do not teach to their children. He shows that you don't have to go to big schools and have a great education to be successful. Make money work for you, not work for money. Summary and analysis: This book is about Robert T. Kiyosakis' life, from childhood to adulthood. He was raised with a Rich dad, who was his best friends (Mike) dad, who was a large business owner, and a poor dad, his real biological father, who was poor and highly educated. Both fathers taught Kiyosaki different views on success but because he saw that Mikes' father was successful he chose to learn how to be successful from him (rich dad). This book shows you that anything is possible if you are fearless and open-minded and also shows the 6 major lessons for success: The rick don't work for money, The importance of financial literacy, mind your own business, Taxes and Corporations, The rich invent money, The need to work to learn and not to work for money. Kiyosaki states to never to work for money through out the book and shows that the rich when opportunities come and go the rich tend to take risks, wile the poor are too concern paying bills, fearful to make a risk, and too busy seeking wealth. This book shows the difference on how the rich class vs. the poor class look at money.
Anonymous More than 1 year ago
this was a good book that really stressed the importance of financial intelligence and it seems like a good stepping stone to find out more about making a living in different ways than just being employed by someone else. 
Anonymous More than 1 year ago
I highly recomend this book to anyone who has financial problems. It explains a whole lot about investing, making a lot of money, and getting out of the rat race. Anyone at any age should read it!
seandy More than 1 year ago
this book for me told me a lot of stuff that i already knew. it has really good advice but it does not tell exactly how to do it. that is the only critique i have for this book. i liked how kiyosaki used pictograms in which helped me understand what he meant.
kcKS More than 1 year ago
The book Rich Dad Poor Dad by Robert T. Kiyosaki is a wonderful novel and guide to the little tips and tricks it takes to become financially literate. This book shoes one how to look at life's bigger picture and explains about how to work to learn and then to earn; and how to find loop holes in the financial game called life. It talks about the author's life experiences and his advice. One might say the theme of this novel is the power of education but not school, the whole novel is centered on the idea of out of class room education. Page by page the author provides all his knowledge about money. I found this quite amazing how he could go from nothing to everything just form his power and understanding of money. The only part of the book one might disagree with is how you really he talks about being rich in just money, because you could also be rich in family and friends etc. Anyone interested in money and seeking a better understanding of hoe to become financially literate should read this book.
BoRaT More than 1 year ago
This book is a milestone for your lives. Once you read it and once you play the game Cashflow afterwards, nothing will be the same for you anymore. Surely everyone will benefit in a different way but the general idea of the necessity to get of the rat race is priceless; while you are reading the book you'll feel like this "Would I share this information with everyone if I'd knew it?" Yes, this book is "THAT" awesome. I recommend you to read this book while you are also reading a Trump Book. Your focus will be doubled and everything will make more sense to you. Thank you Mr. Kiyosaki for helping young idealists like me to find some answers to our questions which we couldn't be able to learn from our own parents.
Guest More than 1 year ago
This is a motivational book with a few common sense financial suggestions such as buy assets that appreciate over time or provide a positive cash flow. It also has suggestions that are not so great, like how an education and a good job only trap you in the rat race and lead to debt. Some suggestions are downright bad, like not paying bills so your creditors will be able to motivate you to get out and make money. It is sprinkled with examples that are actually get-rich-quick fantasies so absurd that this book should be listed in the fiction section. It sells dreams, it does not realistically educate you to accumulate wealth. If a reader were to actually follow the author's advice, they could loose a lot of money fast!
Guest More than 1 year ago
A truly remarkable and life changing book that helps me pave my road to financial independence each and every day.
Anonymous 22 days ago
The book is very basic and lay foundation for you start thinking about investment.
Anonymous 6 months ago
I think I'll be wealthy when I grow up thanks to this book, ten stars if I was able to.
Anonymous 10 months ago
Loved every bit of this book. Wish I read it years ago.
Manas More than 1 year ago
This book is not just about money. It's about how we are taught to think; how we are programmed by schools, family, and friends to look at the rich as greedy no good bloodsuckers and opportunities as risks. It is an attempt to reprogram minds to look at why we do what we do.. why do we buy all these shoes, clothes, cars, jewelry.. have we earned it or are we just trying to maintain an image? To me the most important thing it teaches is that being educated is the key.. educated in our motives, in money, in the world around us... educated does not always mean a degree lessons can be learned anywhere at anytime. My Review:
Anonymous More than 1 year ago
Great read
Anonymous More than 1 year ago