on 9 November 2003
20 stories from a wide variety of people. A dyslexic young woman who went from near despair (I tried to be a waitress but I couldn't spell "kofie") to CEO of her own company, winning national entrepreneur awards and appearances on Oprah and other shows. An elderly lady who had worked for Kiyosaki behind the scenes, but never considered that his financial lessons could be for her. A 30-year-old high school dropout, single mother on welfare who first heard of Kiyosaki on TV in New Zealand in 1997. Now she owns a medical practice and 2 rental properties. Some of the contributors are nearing retirement, 1 is just 13 years old with her own Web-based business. As Kiyosaki says in the foreword, "these people took action and achieved successful results". Some of the contributors were clearly financially savvy before they read Kiyosaki's books, or have a natural entrepreneurial ability: some are financial advisors, or stockbrokers. One was a highly successful young man who was at Ground Zero on that fateful day in September 2001. But the common link between all the contributors is how reading and digesting the ideas of "RichDad" led them all, in their own ways, to expand their horizons, to see opportunities that they did not see before; many were galvanized and found wellsprings of energy and enthusiasm - they saw a brigher future for themselves once they began thinking outside the box. The dyslexic CEO, for instance, was already successfully running her own business before she came across the RichDad books. "I paid cash for everything, including rent, equipment and trucks. With RichDad I learned how to leverage what I had so that it could be used to create cashflow...Before RichDad, I had leased most of my stores. After listening to Robert I realized I should be investing in real estate so that I could make my investments that would provide financial security."
All of these people faced negative reactions from the people around them; some faced their own fears or a lifetime of habits such as laziness, procrastination, doubt. Kiyosaki's books helped them see a new way forward, a new and brighter future for themselves. For me, these books are not about getting rich or amassing wealth; they are about seeing a bigger picture, taking charge of the financial aspect of one's life, as this brings power, energy and excitement. Each story is illustrated with examples of plans for financial freedom, and actual examples. Most of them (but not all) involve real estate deals. Most, but not all, are from the US (1 is from Korea, and many who live in that part of the world will relate to this description: "Working as a salaried man menat dealing with policies and rules that resulted in weakened creativity and a challenged spirit"). I give it 4 rather than 5 stars because I would have liked to see more examples of other success stories than those that used real estate.
Kiyosaki begins his foreword with an an exchange between him and an irate caller on a local TV show: "she had liked the book but felt it was a waste of time to read...'The book did not tell me what to do next'. So what should she do? asked the TV host. 'Find another book that will tell her what to do'. If you want a recipe book, try something else.
on 31 January 2004
The first book in the richdad series is life changing and everyone should read it, but the books tail of from there and become repeats of what has already been said mixed in with adverts for other richdad products. Prophecy is about 50% useful. But this book is really not worth reading. It is simply a collection of anecdotal success stories lacking in all but token detail. I think following the richdad formula you can get somewhere, but this book will not help you. Most people in the book seem to have been successful by luck. And it is not balanced by people who failed, so gives you a false perception of the realities of making it work. Seems that the Richdad corporation is now milking the brand, no doubt there is a sea of middle class dreamers with enough money to buy an endless supply of books (giving them the impression they are egtting somewhere) but no guts to carry it through - Don't become one of them. Time to stop reading and act for yourself. In addition, for UK readers it is even less relevant as it is mostly an american book.