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4.5 out of 5 stars42
4.5 out of 5 stars
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on 4 April 2002
This fourth book in the main series follows through the logical progression from 'taking care of your business' to retiring and doing what you want to do full time. Some people in the UK may find Robert Kiyosaki's American enthusiasm and repetitive writing style a bit hard to take - just stick with it and realise that making money is something that Americans do better then us! Others may say that you 'can't do those things here' - may I suggest to them that they need new advisors as I have not had any problems in implementing these ideas. I would read 'Rich Dad Poor Dad' and 'Cashflow Quadrant' before this book - could be a bit much at once otherwise.
The big gain from this, as with all the books, is the sense of challenge and attitude that comes across. Combined with the specific ideas for action and areas to think about Robert is able to lead you towards acheiving your financial goals, whatever they are.
Retiring before 45 is a dream that most us share, but few think is possible. I would rate these four books as being of equal value in helping me to be on track to reach this goal (despite having started at 31 years old), as my MBA. The MBA tells me how, Rich Dad helps me think of why, when and what.
The true value of these books is really demonstrated by their life expectancy on my book shelf at home. I have leant a number of copies of Rich Dad Poor Dad to friends and family, none of which have ever been returned! Since then my sister is now starting her own company and writing a book and friends have made some very profitable moves into property investment. None of these people, including myself, talked about such things before reading Robert's books.
Buy this book. Read it. then hide it and re-read it every few months - if you don't you will probably find that it disappears and those close to you start to have more money in their pockets!
A real delight.
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on 2 September 2003
I went to a lecture by Robert Kiyosaki, at the launch of this book and was disapointed that the lecture and the book were a rehash of the lessons brought forward in the original Rich Dad Poor Dad books. The book is written live a novel and there is a lot of repetition from other books and from the earlier chapters of the book itself. It did not leave me as inspired as the earlier books and was a struggle to get through. I'd say if you've read Rich Dad, Poor Dad - you'll not get much more out of this book.
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on 8 September 2002
You only need to look at the number of reviews (positive and negative) for this book and others in the rich dad series to see that is considerable interest in the Mr Kiyosaki themes. I don`t want to repeat these reviews again since many of them have already given a very clear picture of what you will get out of this book. However, I wish I had read this book when I was younger and my life might have been different. I am not saying that I would have become an overnight entrepreneur but this book has made me look differently at money and possesions. I now realise the things that I thought were important, i.e. working my way up the career ladder and buying houses, cars..Etc are in many ways the things that are really dragging me down and stopping me from becoming financially independent. I am now actively pursuing ways of generating passive income as Mr Kiyosaki suggests. This realisation alone is more than worth £10 or so that you spend on the book. The book is highly motivating and using the great (if doubtful) story of his two dads, Mr Kiyosaki really convinces you that you can be rich if you just wish hard enough.
But if you are already convinced of the need to generate passive income then there is little use in buying this book. There is little in the way of specific information on how to generate cashflow. The anecdotes that are provided relate only to specific situations that would not work again in a million years. For more hard information the reader is only referred to other books in the series. I have not read the other books but I have a feeling however that the law of diminishing returns operate here and that you could buy the whole series but not really be much further forward. Clearly there is no easy and risk free method to becoming rich.
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on 19 October 2003
I have just finished reading this book and it was absolutely fantastic. I must admit that some of it was alittle tough going but stick it out it is well worth it.
I read this book and was left feeling more inspired than I have ever before. It has completely changed my way of thought and I have already started buying the other books to continue learning rich dad's way of thought, anything is possible if you believe it is. I WILL be rich!!
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on 8 November 2003
I would recommend every book in Robert Kiyosaki's "Rich Dad" series to anyone, but this book is the best yet! Kiyosaki's writing style has settled down, and he has organised his thoughts into a clear, logical book, that, at long last, carries clear guidance on many of the topics that he has addressed in previous books.
"More of the same"? well, yes, there is some repetition there, but since no author can expect every reader to read all his books in sequence there will always be a need to re-state the main principles. In any case, I don't see repetition of this kind as being anything but beneficial, as ultimately it helps to reinforce the message in my own mind.
This book talks a great deal about leverage; all kinds of leverage; ways to improve your ability to create personal wealth. This book will help you to realise that your dreams ARE achievable and help you to organise your mind to achieve those dreams.
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on 24 June 2013
An interesting read from the famous author of "Rich Dad Poor Dad" which I read a few years ago prior to the current financial crisis. I read Rich Dad Poor Dad for 'personal development' as I was involved with a networking marketing business at the time. Mr Kiyosaki also recommends network marketing/starting your own home based business in this book. Personally neither Mr Kiyosaki's book or the network marketing business I was involved in at that time helped to make me rich. Far from it - I think it was more the other way around! In this book Mr Kiyosaki goes into a bit more detail about how he became rich learning the lessons of financial education from his Rich Dad, which they never teach you in school and is the reason why most children are destined for the middle classes at best. One area which became a source of his wealth was in real estate, buying property for investment and using it to make a rental income or by selling it on at a profit. He claims that he did all this with the assistance of the banks, even the government, and used debt at the Bank's expense to make him wealthy. I'm not sure how well this strategy can work in the current market conditions! He also explains how he has made his wealth through other income streams, such as his books and CDs. Mr Kiyosaki seems satisfied with his new lofty position as being part of the mega rich elite who have made their wealth not at the expense of everyone else he believes, but through becoming financially educated and seeing opportunities to make him rich that others did not take advantage of.
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on 10 October 2002
Kiyosaki's inspirational, easy-to-read books are written to excite the reader about available financial opportunities. And they do excite the reader. It is easy to get caught up in the author's enthusiasm. The generalizations are great and allow the reader to dream, but more details are needed. In this recent book, Kiyosaki stresses the need to protect your assets. He spends an entire chapter (17) on how stock options can, and in his opinion, should be used by all investors to gain that protection. His discussion was convincing, but again, there were not enough details. I recommend THE SHORT BOOK ON OPTIONS to learn those details. The reader would then be in position to follow Mr. Kiyosaki's good investment protecting advice.
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on 5 November 2002
Okay, so it looks like Robert Kiyosaki isn't exactly what he claims to be, but frankly I don't think that in any way detracts from the approach to money taken by this book. If you've ever felt that you're just not the kind of person that gets rich, this book will blow you out of the water. In VERY clear and extremely basic terms it shows readers a different way of evaluating financial value that even escapes the so called professionals in finance and investing. If you are worried about providing for yourself or your family but don't know where to begin I'd say this, together with "The Richest Man in Babylon" by George S. Clason, is the best foundation for financial education you could hope to find.
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This book deserves more than five stars for its exceptional clarity, authenticity, relevance and eloquence.
Those who love the Rich Dad, Poor Dad books will adore this one. I found it to be the best book in the series since Rich Dad, Poor Dad.
Mr. Robert T. Kiyosaki speaks with the authority of experience. He did retire young at 47 while his wife was 37. At that time, his expected annual income was between $80,000 and $125,000. Many people yearn for early retirement with wealth, mostly because they hate their work. Mr. Kiyosaki was soon back at work, establishing new businesses. Most of his wealth was created after he retired. "I keep working because there are so things that need to be done." So, he has clearly moved from earnings a living, to living a mission of self-expression. That's very wonderful, and I hope you will accomplish the same result!
Although the subtitle says this is "how to" book, it's really more of a "what to think" book. The fundamental concept is to leverage your mind, your plans, your actions, and your priorities to get wealth faster and more easily.
As usual, Rich Dad provides some wonderful quotes. Here are a few of my favorites.
"David could beat Goliath because David knew how to use the power of leverage."
"Cash flow is the most important word in the world of money. The second most important word is leverage."
"Leverage is the reason some people become rich and others do not become rich."
"Because leverage is power, some people use it, some abuse it, and others fear it."
"Getting rich begins with words and words are free."
" . . . do more and more with less and less."
The first books in the Rich Dad, Poor Dad series have been about cash flow. This one shifts over to leverage. Section 1 is about leveraging your mind, section 2 looks at leverage from a plan to retire, section 3 addresses leverage from actions. The book goes on to give you a final exam on your attitudes and a challenging thought to chew on to help get you focused properly: making lots of money with no money to start with.
Now, any book about leverage would normally have lots of pages on how debt leverage works. In fact, that is only a small part of what this book talks about. You will find that discussion in part of chapter 16, which looks at all of the forms of leverage in real estate.
One of the strengths of the book is a fine discussion of how to think about risk and reward. It's not how often you fail, but how big the costs of your failures are compared to the rewards of your successes . . . and your determination to keep trying until you succeed. For instance, 9 out of 10 new businesses fail. But the value of the 1 in 10 that succeed should vastly outweigh the costs of the 9 failures.
The book is excellent in warning you against the risks that you are unconsciously taking. Most people have 100% of their financial futures tied up in government pension and Medicare payments and the stock market. Mr. Kiyosaki correctly points out that this assumption is probably faulty, because there are far more Baby Boomers depending on these two resources than there are resources. One part of the leverage concept is to have more streams of cash flow. He also has excellent ideas on how to reduce risk in your current and potential sources of cash flow.
You are also given a list of good habits to pursue. And top tips from the prior books are repeated in a convenient section near the end of the book.
If you follow the advice in this book, it will be worth more to you and your family than all the other investment and retirement books that you read combined. But you have to take action! Thinking about taking action won't get you there.
I would describe this book as being a lot like Tony Robbins's book, Personal Power, except it is focused effectively on the emotional and mental disciples needed for financial security and investing.
By the way, I have known many people who have retired young with the assistance of being rich. They all embody the principles captured in this book. By contrast, at age 65 only 5 percent of all Americans will be able to afford to live a wealthy life style. Most will be looking for more income. Which group do you plan to be in?
Think and live the thoughts that will make you as rich as you want to be! The solutions are there if you look for them.
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on 8 October 2014
I chose to read this book after reading "Rich Dad, Poor Dad" and finding it a good read. Kiyosaki's ideas are great and throughout the two of his books he often refers to people having read the series. I actually think reading more than one of the books is where the issue lies, as each one is far too similar to the other and it starts to seem as though the same message is constantly on repeat. "Thats financial intelligence" and "buy real estate" etc etc.

I would also point out that this is not a "get rich quick" scheme to any potential readers, its a realistic way of managing and spending your money so the title is a bit misleading. Firstly, the book pretty much revolves around using real estate to make money and if you're here in the UK than you need significant capital in the first place to even consider buying any property. Kiyosaki make money in a high paying sales job in the early days, so if you're working minimum wage today and hope this can help you then you may be in for a disappointment.

Key take away from both the books I have read is how to spend more intelligently on assets that make money rather than the liabilities that dont. Its amazing the way the book makes you realise how everybody falls into the trap of earning well but having none left at the end of each pay day.

I would recommend this book if you have not read the others and similarly if you havent then I would recommend buying "Rich Dsd, Poor Dad" instead.
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