Name: Jb's review of Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
Item: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
Rating: 3
Author: Jb

Robert T. Kiyosaki

It's been nearly 25 years since Robert Kiyosaki’s Rich Dad Poor Dad first made waves in the Personal Finance arena. It has since become the #1 Personal Finance book of all time... translated into dozens of languages and sold around the world. Rich Dad Poor Dad is Robert's story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you. 20 Years... 20/20 Hindsight In the 20th Anniversary Edition of this classic, Robert offers an update on what we’ve seen over the past 20 years related to money, investing, and the global economy. Sidebars throughout the book will take readers “fast forward” — from 1997 to today — as Robert assesses how the principles taught by his rich dad have stood the test of time. In many ways, the messages of Rich Dad Poor Dad, messages that were criticized and challenged two decades ago, are more meaningful, relevant and important today than they were 20 years ago. As always, readers can expect that Robert will be candid, insightful... and continue to rock more than a few boats in his retrospective. Will there be a few surprises? Count on it. Rich Dad Poor Dad... • Explodes the myth that you need to earn a high income to become rich • Challenges the belief that your house is an asset • Shows parents why they can't rely on the school system to teach their kids about money • Defines once and for all an asset and a liability • Teaches you what to teach your kids about money for their future financial success

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

Taking to heart the message that the poor and middle class work for money, but the rich have money work for them, the authors lay out a financial philosophy based on the principle that income-generating assets always provide healthier bottom-line results.

What the Rich Teach Their Kids about Money - that the Poor and Middle Class Do Not!

Rich Dad, Poor Dad

angie

History proves that great civilizations collapse when the gap between the haves and havenots is too great.

Pratik Wankhade

"Life pushes all of us around. Some people give up and others fight. A few learn the lesson and move on. They welcome life pushing them around. To these few people, it means they need and want to learn something They learn and move on. Most quit, and a few like you fight.

Sharon L. Lechter

Argues that a good education and a secure job are not guarantees for financial success, and describes six guidelines for making money work for oneself.

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

Rina

Although we have been successful in our careers, they have not turned out quite as we expected. We both have changed positions several times-for all the right reasons-but there are no pension plans vesting on our behalf. Our retirement funds are growing only through our individual contributions. Michael and I have a wonderful marriage with three great children. As I write this, two are in college and one is just beginning high school. We have spent a fortune making sure our children have received the best education available. One day in 1996, one of my children came home disillusioned with school. He was bored and tired of studying. “Why should I put time into studying subjects I will never use in real life?” he protested. Without thinking, I responded, “Because if you don't get good grades, you won't get into college.” “Regardless of whether I go to college,” he replied, “I'm going to be rich.”

Piet Terheyden

Gimnath Perera

Interesting insight into how "self-made" people think.

TW: lots of love for DJT.

Warum bleiben die Reichen reich und die Armen arm? Weil die Reichen ihren Kindern beibringen, wie sie mit Geld umgehen müssen, und die anderen nicht! Die meisten Angestellten verbringen im Laufe ihrer Ausbildung lieber Jahr um Jahr in Schule und Universität, wo sie nichts über Geld lernen, statt selbst erfolgreich zu werden. Robert T. Kiyosaki hatte in seiner Jugend einen "Rich Dad" und einen "Poor Dad". Nachdem er die Ratschläge des Ersteren beherzigt hatte, konnte er sich mit 47 Jahren zur Ruhe setzen. Er hatte gelernt, Geld für sich arbeiten zu lassen, statt andersherum. In Rich Dad Poor Dad teilt er sein Wissen und zeigt, wie jeder erfolgreich sein kann.

Was die Reichen ihren Kindern über Geld beibringen

Rich Dad Poor Dad

Mohatdy Mahdy

As an Egyptian reader, I noticed that the book's financial advice differs significantly from what I am used to. In Egypt, Islamic finance is heavily emphasized, which prohibits the charging of interest and other practices deemed usurious.

I would like to point out that Kiyosaki's book does not consider Islamic finance and, in fact, promotes investment strategies that are considered haram under Islamic law.

For instance, Kiyosaki suggests that readers consider investing in real estate, which may be perceived as a risky investment in Egypt (between 2022-2030). He also recommends the use of leverage, a financial tool that can amplify both losses and gains. It's important to note that investments based on debt and advances are considered haram and carry a high level of risk at present, so they should be studied carefully.

In my opinion, Kiyosaki's book may not be the best fit for readers interested in Islamic finance, but it could be helpful for those seeking a general introduction to personal finance.

Simone Felisati

Good introduction to personal finance. It doesn't go too deep but gives a new perspective to those who never stumbled upon the "rich way of thinking".

Ufuk Safak

I listened to the audiobook and it is basically a very good book that everyone should read. I am planning to read hard copy after a couple of years.

This is by far the best book I have ever read in my life thus far. It has completely changed my mindset and provided insight into how I can change my life for the better. This book is truly eye opening for those of us that want to leave the rat race and become financially free. Everyone should read this book, regardless of their goals / dreams. It is important to understand the world we live in and how society as a whole thinks about money, freedom and independence. 

Valeria Sandino

April 2017 marks 20 years since Robert Kiyosaki's Rich Dad Poor Dad first made waves in the Personal Finance arena. It has since become the #1 Personal Finance book of all time... translated into dozens of languages and sold around the world. Rich Dad Poor Dad is Robert's story of growing up with two dads -- his real father and the father of his best friend, his rich dad -- and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you. 20 Years... 20/20 Hindsight In the 20th Anniversary Edition of this classic, Robert offers an update on what we've seen over the past 20 years related to money, investing, and the global economy. Sidebars throughout the book will take readers "fast forward" -- from 1997 to today -- as Robert assesses how the principles taught by his rich dad have stood the test of time. In many ways, the messages of Rich Dad Poor Dad, messages that were criticized and challenged two decades ago, are more meaningful, relevant and important today than they were 20 years ago. As always, readers can expect that Robert will be candid, insightful... and continue to rock more than a few boats in his retrospective. Will there be a few surprises? Count on it. Rich Dad Poor Dad... * Explodes the myth that you need to earn a high income to become rich * Challenges the belief that your house is an asset * Shows parents why they can't rely on the school system to teach their kids about money * Defines once and for all an asset and a liability * Teaches you what to teach your kids about money for their future financial success

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

Isabella

az a fresh grad i had a personal crisis regarding my personal finances... not the book i was looking for but some of the advice was slightly helpful methinks

Great book for those who understand how a mindset works. Sadly, I see people giving bad reviews out of their poor literacy skills.

Jānis Pārums

egemen

As I have finished reading this book, I have the impression of making money through real estate and writing a book about how to make money. This book is more of a book where there are essays with the summary parts in the end. Those parts sum up the main idea of the associated chapter. If you want to know what the author has to say, just read the summary parts. The book goes on with real-life examples. It would be better if the author has backed his experiences with some scientific examples. Overall it is OK.

Okan Davut

Finansa dair temel konularda aydınlanmamı sağlayan ve pasif gelir oluşturmanın ne kadar önemli olduğunu anlatan bir kitap. En hızlı şekilde okuduğum kitaplardan biri oldu çünkü keyifli ilerliyor. Finans ve yatırım ile ilgilenen kişilere tavsiye ediyorum. 4 yıldız verdim çünkü bazı yerlerde yazar çok fazla abartıyor gibi geldi.

Nast Marrero

Food for thought. It feeds the same ideas several times in the "for dummies" American fashion, yet it has some very interesting challenges to the popular understanding of wealth.

Ivy Nguyen

This is the first personal finance book I’ve read. On my challenge journey, I found this is of most sophisticated and crucial skills for my self
After the decision of Robert Kiyosaki, Become a I and B part, I think this is a new way to improve for me.
I will devote all my money to bitcoin, because it’s enhance my finance status
Before 40, I will have a big penthouse and a car, and live a life in US
I hope so
Hue, Oct 16, 2021

Obada Mu

"Life pushes all of us around. Some people give up and others fight."

Matteo

If you don't have financial knowledge this book can give you the very basics, helped me understand the difference between asset and liability, but the rest of the book it's useless, don't read it unless you're fine with skimming to the important parts

poprika

Cash Flow Quadrant : Employee, Self-employed, Business Owner, Or Investor ... which is the Best Quadrant for You?

Rich Dad, Poor Dad 2

McKlayne Marshall

7 levels of investors and 7 steps to move quadrants was the best part.

This is a great resource for rewiring your financial brain. The common narrative amongst most immigrant families is that risk is out of the question if you want to survive. My family followed the educated but poor dad's lesson. A lot of the times I've thought about adopting the 'rich' dad's way of thinking, I am met with uncomfortable amounts of cognitive dissonance. After finishing this, I feel empowered to dare to think and act differently.

Some valuable lessons (with clear real-world examples):

- Experience/knowledge over material goods.

- Be charitable without expectation of dividends

- Risk (and failure) is a prerequisite for success.

BUT: working through this book reminded me of the importance of abstraction when consuming information...and then further abstraction in light of context. Kiyosaki wrote this for a capitalist/western society. Even with the aid of technology, it's almost impossible for those trapped in a socio-political rat race to escape.

Kelly Kim

This is a great resource for rewiring your financial brain. The common narrative amongst most immigrant families is that risk is out of the question if you want to survive. My family followed the educated but poor dad's lesson. A lot of the times I've thought about adopting the 'rich' dad's way of thinking, I am met with uncomfortable amounts of cognitive dissonance. After finishing this, I feel empowered to dare to think and act differently.

Some valuable lessons (with clear real-world examples):
- Wealth/money is a mindset.
- Experience/knowledge over material goods.
- Be charitable without expectation of dividends
- Assets first; liabilities second
- Risk (and failure) is a prerequisite for success.

BUT: working through this book reminded me of the importance of abstraction when consuming information...and then further abstraction in light of context. Kiyosaki wrote this for a capitalist/western society. Even with the aid of technology, it's almost impossible for those trapped in a socio-political rat race to escape.

Al Siddeg Omer Mohmmed

It has such an interesting ideas and valuable information about money and investing. I finally learned about assets, stocks, taxes and how they work and how to benefit from them. It pointed to huge gaps of missing information that i need to learn more about. This book opened my eyes and changed my thoughts about money and how it works.

Zack Bowman

April 2017 marks 20 years since Robert Kiyosaki's Rich Dad Poor Dad first made waves in the Personal Finance arena. It has since become the #1 Personal Finance book of all time... translated into dozens of languages and sold around the world. Rich Dad Poor Dad is Robert's story of growing up with two dads -- his real father and the father of his best friend, his rich dad -- and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you. 20 Years... 20/20 Hindsight In the 20th Anniversary Edition of this classic, Robert offers an update on what we've seen over the past 20 years related to money, investing, and the global economy. Sidebars throughout the book will take readers “fast forward” -- from 1997 to today -- as Robert assesses how the principles taught by his rich dad have stood the test of time. In many ways, the messages of Rich Dad Poor Dad, messages that were criticized and challenged two decades ago, are more meaningful, relevant and important today than they were 20 years ago. As always, readers can expect that Robert will be candid, insightful... and continue to rock more than a few boats in his retrospective. Will there be a few surprises? Count on it. Rich Dad Poor Dad... • Explodes the myth that you need to earn a high income to become rich • Challenges the belief that your house is an asset • Shows parents why they can't rely on the school system to teach their kids about money • Defines once and for all an asset and a liability • Teaches you what to teach your kids about money for their future financial success Bron: Flaptekst, uitgeversinformatie.

Financial Education Essentials

Todd Luallen

Much has changed since Kiyosaki wrote this book in 1997, but his main message is still so very appropriate today. The book confronts the mentality that going to school to get a good job is the best path to financial freedom. Kiyosaki puts forth the argument that financial literacy should be the goal (something not taught in schools) -- stating that earned income should not be the end goal. The proper end goal should be portfolio and passive income, which come from assets, not liabilities. A good book that challenges many of the common philosophies in modern America. The book is written in a very conversational style, with a lot of stories and dialogue. Almost twice as long as most financial "how-to" books I've read, but enjoyable enough to keep my attention while driving home the arguments. I prefer to read books that are more straight-forward with less story, but you can't argue that it hasn't had tremendous success in the market.

Megan

This is a good one if you’re looking to learn about money. I definitely took away some lessons I’ll be using in my everyday life which was a nice bonus!

Dweedle 

There is some great advice in here. Increase your financial IQ. Understand how to make your money work for you. Understand the difference between assets and liabilities. Don’t believe everything everyone tells you.

That last part applies to this book too. There are some real wacky suggestions in here that make no sense. Join a MLM to get over your fear of being told no? Seems like there are cheaper ways to overcome that fear.

He also never talks about a time he made a mistake. He says he did, but you don’t hear about that here. He also repeatedly talks down about his fathers salaried education job... but reveals he basically did the same.

Worth a quick read through, but don’t sell the farm right away.

Pranav

A worthy best-seller. Must-read for both financial and non-financial people, to learn and ground themselves in the basics of the habits of the wealthy. A good primer to get started with, and move on to more advanced books in the series, as well as other books on saving, investing, trading, and basically creating indestructible, old-money wealth.

Ammar Alakkad

One of the best book I've read 

I'd recommend everyone specially young people to read this book as soon as possible. 

It's going to change how you look at the money and your work. 

It'll encourage you to start thinking how to get more money in a smart way, not just by increase your working hours or find another job with higher salary. 

It opens your mind on investing and its importance.

Ugis

Classic read about the financial education. [reading time: 6h33m]

Robert T Kiyosaki

What the Rich Teach their Kids About Money

Chris Raastad

"The single most powerful asset we all have is our mind."

I listened to this classic on a drive from SF to Lake Taho and back. It's perfect for a long-drive audiobook. I wish I read this book in my early twenties rather than my early 30s. I think everything here is absolutely relevant today. The TLDR is easy, keep developing your financial literacy, focus on acquiring assets, use the assets to buy luxuries, live off the income of your assets and do what you want for the rest of your life. It's easier said than done. Guy has a great story to tell, about his "rich dad" and "poor dad", and his life story of success from the hands on lessons of the former. It's vital to understand the contradictory advice that "non-rich" people give to each other and how that traps them in at most the "middle class". This is a quality read to start off your financial literacy journey.

Summary: https://www.samuelthomasdavies.com/bo...

Gimnath Perera &
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki

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Gimnath Perera &Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki

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Join the club

Gimnath Perera &
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki