|Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and the Middle Class Do Not!
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Anyone stuck in the rat-race of living paycheck to paycheck, enslaved by the house mortgage and bills, will appreciate this breath of fresh air. Learn about the methods that have created more than a few millionaires. This is the first abridged miniature edition of Rich Dad Poor Dad. The full-length edition has sold millions as a New York Times bestseller. As proven by the runaway success of The Secret and like titles, changing one’s thinking to influence one’s fortune sells big, and forms the basis of rich dad’s advice. Learn to think like a rich dad and let your money work for you!
- Very Good
Item was received in a timely manner and in good condition as promised by seller....more info
- Rich Dad Poor Dady: what the rich teach their kids about money
I actually never got this book can you please reply why i never got this book thankl. ...more info
- ITEM IS NOT AS DESCRIBED
This is a Great book but Amazon did not describe this book and being pocket sized! The pictures they have are from the regular version/size. The $4.95 version is small pocket book size and is vey small to read I ordered 10 of these thinking it would be regular size. Amazon please change your description...more info
- Bad, bad, bad advice
Our brother is now facing foreclosure and the loss of everything including his wife and children because of this book. This is a book that recommends taking all the equity out of your house to invest and denigrates working for a living and saving. It goes against everything our parents taught us....more info
- Upside down & backwards
This book has it upside down and backwards. The "Poor Dad" was actually the "Rich" one by valueing things such as education, family, self-sacrifice & integrity. The me-first/get-rich-quick priorities of the "Rich Dad" are less helpful....more info
- A good starting point, but a real financial education is necessary.
If there's one thing this book doesn't do, is promise you absolutely that you will be rich. Instead, it motivates you to try and look at life, your career, and how you spend and manage money a little differently. However, a real financial education - courses you could take at a community college that teach you how to manage risk, understand investing, real estate, etc etc are ultimately necessary for success.
Interesting anecdotes and stories abound, and honestly they're the best teaching tools used, regardless of their truthiness. You'll learn how to manage money, how corporations work, and why owning a home could be the worst decision you ever make. However, there are a few stumbling blocks that really limit the usefulness of this book:
1. He doesn't full discuss how corporations - and their alternatives - work in detail. He also says that corporations can be used as tax shelters. That's not primarily why corporations exist. They exist to limit the liability of the investors. The major disadvantage with corporations is that earnings are actually taxed twice - once when the earnings are calculated, and again when the investors are paid out. You could also say that they're taxed again when you buy something (sales tax) or when you buy property/investments with the money gained. The point is, corporations are not some magic formula that allow people to keep money that the government would otherwise take away.
2. Risk is vastly understated with many investments. He does a good job of trying to slap sense into how people incorrectly view the stock market - by likening dips in stock prices to a sale at a supermarket for toilet paper (as in, that's time to buy), but doesn't explain how securities investment should be done, or even how to evaluate risk. It basically boils down to "if you like the stock, put a ton of money into it and hope to god it does well". He also advises you to use insider information when buying and selling stock, something that readers might not be aware as being illegal.
3. He acts like having a job is some sort of curse, and people who have jobs can never save money or move further in life. Yet, he prides himself on being one of Xerox's top 5 sales people. Apparently everyone should just quit their job or at least direct their attention to something else despite the fact that the earnings from his jobs are what allowed him to make investments in the first place.
Despite how limited and vague the discussion is, it does put a new spin on looking at things. For example, when you start working, he motivates you to direct your income not on spending and consuming things, but investing that money in assets that will generate you money. This cycle of earning money, reinvesting it, and then reaping earnings is how people indeed get rich. However, you don't necessarily need to invest in businesses or real estate to do this. Mutual funds or even a basic savings account are considered assets that generate revenue for the owners. Furthermore, he advocates using money generated from assets - like rental income from a real estate holding - to buy luxuries, not income that comes from your job. This gives your money momentum - i.e. the car payment for a shiny mercedes doesn't come from your paycheck, it comes from an investment.
However, a dark side to this is that many people tend to overindulge in what's known as "found money" - money that didn't come as a direct byproduct of work. Really, money that comes from an investment should be used for reinvestment and saving. Justifying luxury spending on the path to financial security simply because the source of the money is different isn't necessarily wise financial planning.
This book stresses the importance of financial literacy and how the reason people are poor is because they don't understand how money works. However, this book is only the starting point for a good financial education. Going out and getting one is the next step if you truly want to be successful....more info
- Reality Check
Its true, we arent all taught the facts that are in this book. I was hooked from the very beginning....more info
I found this book very informative. It really made me open my eyes and think....more info
You will not get rich in one night, but you will learn how money works, the easy way. I found it useful because I learned how to see money with a different type of glasses. I began to change the way I invested my savings, no matter the economic times. How money works is not taught in college, you should find advise from the experienced and this is a good source....more info
- Rich Dad Poor Dad is a must-read
Rich Dad Poor Dad is a refreshing perspective on your personal financial state and goals....more info
- just another pep talk
This book is very overrated! Kiyosaki briefly mentions things like investing in tax liens, but he doesn't say how to do it. The book is 99% pep talk....more info
- Helpful or not?
This book was a little helpful but honestly I do not think i will use any of his advice. Throughout the book her would just repeat over and over the same things!!! it got kind of boring..But there were some things that he said that made me think of what I spend my money on, and how i can save by making small changes. But overall this book was not as good as i expected....more info
- rich dad poor dad
i thought i was buying a real book. not a nic nak. it said no where that this was one of those small nic nak books. when i said something to the seller i got no answer. they ripped me off and im pissed!! want a big book not some stupid nic nak book that i payed 10 bucks for. not a happy person about that.[...]...more info
- Its Abridged
I was disapointed when I got this book and it was a little mini abridged version of this book. I was looking forward to reading it. On the other hand, amazon took the book back and refunded my money without any hiccups. Was a very good transaction. But I don't think it said abridged when I ordered it, but when I went back to look it says abridged now. ...more info
- Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and the Middle Class Do Not! [ABRIDGED]
I thoroughly agree with George Helber's review. Who would have thought that Amazon's offering of a "book" would consist of a little ~ 2x3 inch item? Maybe the "real" book has value, but caveat emptor on this particular version - worthless. Well, my family derived worth from the look on my face when I opened the package; everyone had a good laugh....more info
Expected to receive full size book. Instead got a baby version. Guess I'd better read the fine print next time. ...more info
- Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and the Middle Class Do Not! [ABRIDGED] (Hardcover
I love the original book and thought that's what I was buying in hard cover form but, noooo, this little abridged thing is 126 pages, measuring 2 1/2" X 3" there is not enough here for me to pay the shipping let alone buy the book. I feel tricked!!!
I have always trusted Amazon but that has changed with this transaction!!!...more info
- Rich in other ways too!
When I first purchased this book, it was for the simple purpose of trying to educate myself more on the concepts of how the millionaires create their success. While I was not disappointed in any way with the context, what surprised me was that many of the fundamentals written about how to attain prosperity are spiritually based. Robert has done a great job in explaining the "negative reality" his biological father had, as compared to his more trusting and "expecting success" friend's father. For me, the book is an easy to read and easily understood map towards pointing everyone in the right direction. Jim Fargiano, author of The Spoken Words of Spirit: Lessons From The Other Side...more info
- Rich Dad Poor Dad
When I received the 3" x 2.5" mini-book, I thought it was a joke. Abbreviated is one thing, but the size of this book was disgraceful. It taugh me one thing though, I will now have to read the dimensions of the books Amazon sells. Hopefully, Amazon, or whoever sells a miniature book, will make sure the size of their wares, especially if it is shoking is diminsion, would be more predominately mentioned considering their marketing reputation. Maybe photographing this book next to a quarter would have given a clue. Shame on Amazon for making it appear to be as large as a normal book. Shame on me for not always assuming that all books are generally the same size, and not reading the diminsions of the book found in amoung the other misc. information. ...more info
- Important read for anyone dealing with Personal Finance
The text is just an amazing way to view how different a poor family and a rich family view money and it's use. There are several great messages in this book for those looking to build their net worth...more info
- It's Okay but Stick to What Works.
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. ...more info
- Rich Dad Poor Dad- a good book
I think that Rich Dad Poor Dad is a good book because it shows people how there are many different views of how to earn a succesful future and career. It demonstrates that poeple have to work hard everyday in thier lives in order to have success and it takes time to build up a well earned future. I enjoy how the author, Robert Kiyosaki, shows the reader the steps and lessons that he learned while growing up to become rich. I really enjoyed reading this book and I reccommend others to read this book since the author spends his time to explain in an orderly fashion how to become rich through working and studying hard....more info
- A classic book with wisdom and foundation
Five stars. A classic. A book with wisdom and foundation. Kiyosaki explains things that are easy to understand. This should be a starter business book. I highly recommend all of Kiyosaki's books. A must read....more info
- An eye-opening experience
The ideas in Rich Dad, Poor Dad have changed my way of thinking about money. Some of the things said in this book are shocking, but they make perfect logical sense after a bit of reflection. If you want to understand money, I'd recommend you buy this book for you and all of your friends....more info
- Tip Of The Iceberg
For me this book started it all. My Mother-in-Law sent this book to my wife to read, I took it and consumed it in 1 day. I've never read a book so fast. This book changed the way I view money and business. I have read hundreds of business books since, but they all started with this one....more info
- Taking Action
I read this book back in college while I was studying engineering and it was quite inspirational. But after I graduated I ended up taking an engineering job for about a year and a half and realized that I wasn't getting paid what I was worth. I went back to read this book a few months ago and ended up quitting my job in hopes of doing something more. (Although I did apply for USC and got in to get my Master Degree while I was trying to do something else just in case things didn't work out) But anyways back in August I attended one the Rich Dad's free seminars and ended up paying for more advanced classes through them. So now I'm hoping that this could lead me to the financial independence that the book has motivated me to achieve.
- Bad Advice!
How do you become rich? Simple. Just write a book about how to become rich. I've see the author's face everywhere, and he unfortunately is a bit of an opportunist. Aside, from the self-aggrandization, his advice is just wrong, and even worse, it's harmful to the ill-informed. This book focuses on what people supposedly do wrong with their finances, but provides very little help for how to do things right, or more important, how to become "rich".
So what's "wrong"? Investing in a 401-K is wrong, he says. Saving cash in a savings account is wrong. His reasoning is that a 401-K locks in your money and a savings account stagnates. True, but at least you're saving something, as opposed to what he considers "right."
And what's "right"? Investing in the stock market is right. And buying real estate is right. Owning your own business is right. You need only glance at the past month's headlines to realize that this is really, really bad advice. High home foreclosures. The sharpest drop in the stock market ever. And businesses laying off record-numbers of employees and many shutting their doors.
Rich Dad, Poor Dad encourages everyone to be an entrepreneur, but neglects to mention the dramatic pitfalls that come along with it. Not everyone is an entrepreneur, nor should most people try to be. If you are supporting a family, you ideally try to minimize risk, not maximize it.
The premise of this book is intriguing--that a shift away from the financial beliefs you were raised with could precipitate wealth--but the book not only fails to provide sensible ideas, it actually teaches very damaging ones. ...more info