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

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3 comments on “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!”

  1. 192 of 198 people found the following review helpful

    4.0 out of 5 stars
    A great foundation book for beginning to improve your financial intelligence, June 19, 2017

    By Eugene C. -

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    This review is from: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! (Mass Market Paperback)

    This is an enhanced reprint of the original, with additional study questions/ discussion and review added at the end of every chapter. I bought the original about 18 years ago and it changed my families destiny for the better. I am glad the reprint came out as it prompted me to reread it and deepen my understanding.
    Some people complain that this book does not give a step by step process for change. I would counter that one size shoe does not fit all feet. There are many individual paths to wealth, and Kiyosaki sets the guiding stars to navigate by, but you have to walk your own individual road.

    Some key concepts of this book are: 1) Assets put money in your pocket even when you are on vacation. Liabilities take money out of your pocket, therefore your house is a liability [unless you rent out rooms and the garage as one person I know did while rebuilding his asset base].
    2) Wealthy people buy assets first, and then let their assets buy their luxuries from the surplus cash flow.
    3) Wealthy people continuously increase their assets by reinvesting their surplus cash flow in more assets.
    4) There are 3 primary asset classes: Real Estate, Businesses, and Paper assets (stocks bonds notes, etc)
    5) Cash Flow is more important than Net Worth. Net Worth is similar to potential energy, to use it you have to spend it, then it is gone. Cash Flow is like power from a hydroelectric dam, constantly replenished.
    The rich don't work for money, they work for assets.
    The tax laws are fair from the standpoint that the laws that the rich spent billions of dollars to have modified and interpreted apply to everyone who learns how to use them.

    A great foundation book for beginning to improve your financial intelligence so that you don't work 4 or more month's of every year for the Tax man, more months for the banks that hold your mortgage and credit cards, and whatever is left making the company you work for wealthy. Good luck on your journey to being Rich, poor, or middle class.

  2. 61 of 67 people found the following review helpful

    5.0 out of 5 stars
    Everything, March 17, 2018

    By Ilive4him24 -

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    This review is from: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! (Mass Market Paperback)

    I read this book about 11 years ago at 27 years old , had no money, I followed the advice in this book and now have 15 rental properties paid off free and clear, my assets more than cover all my expenses. I just bought this book again, I'm in the middle of reading it again now 11 years later and can't put it down. I hate reading btw. I plan on reading this book at least three more times over the next 20 years so I can keep all info fresh in my mind. People always ask me about success. I tell them to read this book...whats crazy is that they don't read it. You can lead a horse to water but can't make it drink. The book changed my life and it will change yours. Do you want change or do you just want to talk and think about change? There is a big difference , do it.

  3. 39 of 42 people found the following review helpful

    3.0 out of 5 stars
    Rich Motivation, Poor Examples, Fun to Read, May 19, 2018

    By Mister E2 (Chicago, IL) -

    Verified Purchase(What's this?)

    This review is from: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! (Mass Market Paperback)

    A very motivational book without a lot of practical steps to magically achieve the goals listed. Some inaccurate information such as Charles Schwab dying penniless. More important is the author filed for bankruptcy in 2012. Why is that? Research it on your own. For most people this will motivate them to THINK differently and think outside the box, but not necessarily ACT differently, as we still need money to live on and have to work some and not just dream big without action and income behind it. This books contrasts another book "The Millionaire Next Door." Some of the examples that seem to be his idols are a bit scary too, like Ray Kroc. I'd rather apply Biblical money principles from people like Dave Ramsey. All in all a fun good read for mental stimulation. Take it with a grain of salt and don't blindly follow it 100%

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