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140 of 147 people found the following review helpful
4.0 out of 5 stars Not so common sense
In order to enjoy this book, you'd best put your "capitalist pig" head on. The first sixty pages assume that the best thing you can do from the age of nine is apply yourself to making money. Play baseball? Baseball is for wimps. It's wasting precious time that you could be using applying your brain to thinking up money making schemes. It all started to irritate me,...
Published on 2 Jan 2002 by Jim 8888

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25 of 25 people found the following review helpful
3.0 out of 5 stars OK up to a point
The best thing about this book is that the central message is very clear. Rich people put their money into ASSETS (items which grow in value/ generate income - e.g. stocks, shares, real-estate), whereas worse-off people tend to spend money on LIABILITIES (things that either depreciate or cost money to maintain - e.g. cars, clothes.... and your own house). So far, so...
Published on 22 Jan 2007 by M. Hayes


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25 of 25 people found the following review helpful
3.0 out of 5 stars OK up to a point, 22 Jan 2007
By 
M. Hayes "Maz" (United Kingdom) - See all my reviews
(REAL NAME)   
The best thing about this book is that the central message is very clear. Rich people put their money into ASSETS (items which grow in value/ generate income - e.g. stocks, shares, real-estate), whereas worse-off people tend to spend money on LIABILITIES (things that either depreciate or cost money to maintain - e.g. cars, clothes.... and your own house). So far, so good. The non-rich also waste money by (a) unnecessarily paying too much tax and (b) running up debts on credit (he says its OK to buy the flashy car/ boat etc., but only AFTER you've made money from investing in assets).

However my problem is that the practical advice is very US-centred, in particular some of the tax-avoidance techniques he proposes which are simply NOT legal in the UK (e.g. putting your holiday down as a legitimate business expense if you own your own company... I wish!). I would welcome a UK version of the book. On balance the style is engaging if repetitive (as with many US self-help books). A useful way to start you thinking differently, but I would have liked some more specific recommendations on where to go/ what to do to get started with some of the investment ideas he suggests.
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140 of 147 people found the following review helpful
4.0 out of 5 stars Not so common sense, 2 Jan 2002
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In order to enjoy this book, you'd best put your "capitalist pig" head on. The first sixty pages assume that the best thing you can do from the age of nine is apply yourself to making money. Play baseball? Baseball is for wimps. It's wasting precious time that you could be using applying your brain to thinking up money making schemes. It all started to irritate me, because there clearly is more to life than earning money - but then you wouldn't really be buying this book without wanting to earn a bit more dosh, would you? I'm glad I stuck with it, however, as he does temper this attitude as the book progresses.
You cannot argue with one Kiyosaki's opinions. Our (and the American) education system just does not teach you how to deal with personal finance. If it did, Barclaycard would be in receivership. Understand the value of a pound and make it work for you - it shouldn't be such a distasteful subject. Kiyosaki offers some basic common sense approaches that you could apply in order to make your money work better, but he often qualifies advice by stating the approach may not be right for you. Therefore step one could be Learn to Understand Yourself and Your Motivations. Once you've done that, apply your mind to making money if it interests and excites you. If it doesn't, fair enough. Perhaps the process will help you discover what actually does make you tick.
For those interested in making a stack, then the advice is again about learning. Choose who and what you learn from - teachers, friends, books, tapes, seminars. Look for new approaches. Find people who want to buy and sell something to them. Try to make your profit when you buy, not when you sell. Investigate stocks, real estate, whatever. Find people who can do a good job for you and reward them well. I especially liked his advice that you'll only receive when you learn how to give, and as the book progressed Kiyosaki seemed to "lighten up" a bit more and came across a bit more human. In the later chapters he relates a lot more personal anecdotes and pithy tales about the upsides and downsides of trying to make money. It's not all a bed of roses, but it shouldn't be life or death either. Making money is just a challenge, and you should enjoy it. If you're successful, you can reap the rewards, even if that's choosing to donate it to other people or causes.
In summary, the book is an easy and likeable read. I'm sure most people will get something out it on their road to understanding. Will this book make you rich? Of course not. The only thing that will do that, as the book constantly reminds you, is you, your brain and the action you take.
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72 of 79 people found the following review helpful
1.0 out of 5 stars Not worth the effort, 28 Mar 2002
I had heard about this book and decided to do some research of my own, sure enough there are about equal amounts of people who either like his views or see them as complete rubbish.
I find that the basis behind the book is good, the idea of "paying yourself first", not relying on your job to provide for you, buying assets that will make money rather than buying things that make more bills for you. This is surely common sense and Robert spends a long time on this. While he does go into detail, he spends an astonishing amount of time before he gets to the point.
The majority of this book centres around how he (supposedly) makes his money but I found it a bit unfair, unnerving almost, the way he went about it.
The book is written in a gloating fashion, "My assets bought me my porsche" I found this a bit like rubbing peoples faces in the fact he had a lot more money than we the readers (and the fact youve bought this book means your helping him buy the next one).
I like the way he explains the difference between incomings and outgoings in his diagrams, but again this book is written for an american audience so about 1/3 of his book will not apply here in good old blighty.
Some of his statements about education too I find disturbing, he almost recommends dropping out of school and learning about money in order to be better off. I find this irresponsible and dangerous. I certainly would not want my son to read any of this material.
If you, like me are looking at a way of clearing your debts and getting yourself steady in order to start saving or investing, there are better, simpler books on the market. My personal recommendations are: The Richest man in Babylon by George Clayson, or the Motley Fools "How to invest when you dont have any money" these are much better books geared more to our UK market and are more likely to help you on the way to a secure financial future.
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87 of 96 people found the following review helpful
5.0 out of 5 stars Five stars., 28 July 2003
By A Customer
In this short book Robert Kiyosaki distinguishes between the typical cash flows of the 'rich' and those of the poor and middle classes. He goes into some detail as to how they achieve this and how you can achieve it yourself; simply by ensuring that you live well within your means and consistently build on your assets.
For such an easy read it touches on some deep concepts that one doesn't generally think about too deeply. Some great one liners inside to remember, along the lines of "Time is your most precious asset" with regard to compound interest, and "listening is more important than talking, which the majority of people don't understand. If God intended you to talk all the time then he wouldn't have given you 1 mouth and 2 ears" with regard to ones need to learn from those who are greater than oneself.
Unfortunately he does come across rather badly due to his high self-confidence from making his millions... he seems to have had a poor relationship with his real father (referred to as 'poor dad')- painting him in a negative shade throughout, and he occasionally comes across as fairly arrogant when talking about the middle classes and 'poor'... he somehow manages to bestow an image of utter stupidity upon anyone who doesn't own acres of land and real estate, and anyone who works for a living (if everyone was 'rich' and let out real estate instead of working, then who would rent the real estate or produce any goods to consume?).
This attitude of his all helps to hammer in the flowing theme of why one should not be financially dependant though, which is probably why it is a best-seller.
The other downer, in my opinion, is the way he talks about investment gains. The most consistently prolific investment returns, of 13% per annum before inflation consistently since 1919 has been in the stock market... Kiyosaki projects the image that making 100% investment wins is extremely easy... just buy a tech stock and sell it in a few months down the line for a big mark up, or buy property in an area with a depressed housing market and sell for twice the price in a few years, or even buy government bonds with 16% yields. He talks about the rich losing in order to win, but not once does he mention a losing venture of his, which would have made a nice balance. He encourages readers to have an unbalanced portfolio and not to worry about risk if you want to make any real money. This prolifically successful image he projects of himself will not be a reality for most and I would urge readers to take heed... just look at what happened to tech stocks soon after the book was written.
In conclusion I would say that this is an excellent book for anyone who is struggling with the concepts of cash flow... a wonderful read for the youngsters of today... Listed above are some flaws, but the positives hugely outweigh the negatives and I would recommend this book to anyone with a wallet or a dream of early retirement. A good read!
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65 of 72 people found the following review helpful
1.0 out of 5 stars Total fluff - Also total fiction, 1 Jun 2007
By 
Mr. Simon P. Roth (Bournemouth Uk) - See all my reviews
(REAL NAME)   
This book has very little real substance. Often what he says is very misleading or utterly contradictory to his own ideas. From an investors perspective, it has some very bad advice regarding high risk investment.

The most insulting thing is, is that the books many anecdotes are passed off as the truth. In fact Rich Dad and his lessons are entirely fictional. A quick web search will prove this. Kiyosaki repeatedly lied about this to the media and only recently conceded that rich dad is as real as Harry Potter is.

If you want to read a rant against educated people you may enjoy this book. Or enjoy the author bragging about his fictional business deals. Other than that he makes about 6 valid points in the whole book. Points that could be picked up off the net in a matter of minutes.

Its important to note the author didn't get rich investing, he got rich selling books and seminars. the only thing I learnt from him is how to mislead people to trick them out of their money.

Also ... for the record, buying a house (with a mortgage) will *not* tie you into the rat race. Being well educated *will* make you more money and allow you to retire early. Diversifying your investments *IS* a good idea... buying this book is not.
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75 of 83 people found the following review helpful
1.0 out of 5 stars A Trashy Book from Property Boom, 12 Jun 2011
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Sharon Lechter was introduced to Robert Kiyosaki by her husband, a patent lawyer. Koyosaki wanted to patent an educational game called "Cashflow" aimed at improving what he calls young peoples financial intelligence.
One thing leads to another and they eventually collaborated in producing this book which is essentially a financial biography of Kiyosaki. The Rich Dad, Poor Dad of the title are his real father, the superintendent of education for Hawaii (poor) and the businessman father of a schoolfriend (rich).

He says that at age 9 he decided to follow the advice of his rich dad and contrasts it with the advice of his poor dad throughout the book.

For example, poor dad says, "Love of money is the root of all evil", but rich dad says, "The lack of money is the root of all evil" and he follows rich dad, making the money but proving that his poor dad was right on the moral aspects.

Rich dad says, "The rich don't pay taxes, that's only for the poor and middle class", or Kiyosaki; "In real estate I make an offer with the words, "Subject to approval of my business partner" ...... and if they accept the offer and I don't want the deal I call my (non existent) business partner"

And rich dad again: He hugs a manageress in one of his shops and says that she is like a mother to him, then in the next breath gives a warning that "you'll wind up like Mrs Martin". He could have said that he respected her for her loyalty and good work but he clearly doesn't.
If Kiyosaki had been aboard the Titanic you would have found him hiding behind the women and children in the first life raft, but in non critical situations he has some useful things to say about financial management.

His idea that an asset is only an asset if it makes you money is a good one. If you take a large mortgage to buy a private residence, then it is a drain on your resources, although an accountant would class it as an asset.

He's also good on the importance of clear thinking. As he says, "Most people do not know that it is their emotions that are doing the thinking."

The book is aimed at young people but should come with a double warning. Firstly that the writer is dishonest and secondly that the "less travelled road" of business ownership is very risky for less imaginative people than Kiyosaki.

A far better choice is Sam Walton's Sam Walton : Made in America My Story. He was way ahead of Kiyosaki on ethics and financial success.
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13 of 14 people found the following review helpful
1.0 out of 5 stars Waste of money to buy this book, 25 Jun 1999
By A Customer
This is a book that makes only a few points and takes forever to get to those points. Totally unnecessary long worded stories, lots of page-filling graphs and attempts to bash the rich. This books seems to be targeted to people wanting to be rich but hating the already rich. There are many other, better books out there that provide sound financial advice, don't waste your money with this book.
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91 of 101 people found the following review helpful
3.0 out of 5 stars Interesting BUT be cautious�, 10 Dec 2003
By 
Mr. N. Platten "Nick" (Herts, UK) - See all my reviews
(REAL NAME)   
When I found this book and read some of the reviews I thought WOW!!! But after reading it and doing some research on the internet I found that this writer (Kiyosaki) has been a bit of a shady character...do your own research via google or any other good search site.
The book has some fundamental truths about finance and the idea of becoming financially literate should be on every ones list. But there is no easy or quick way to become rich. When reading the book take a big pinch of salt as to the historical/factual truths he presents. It has some common sense ideas mixed in with conflicting fanciful tails of money making methods. In fact, the book is a bit mixed up around!
The book contains an Interesting bunch of ideas and thoughts, it may get your brain thinking about money, investment and assets but beyond that you gain nothing solid.
Anyway, read it if you wish but do your research and remember nothing is easy about making money...
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73 of 81 people found the following review helpful
3.0 out of 5 stars If you want to know the mechanics, look elsewhere, 29 Dec 2003
By 
Caroline Anne Perks (Lancashire, United Kingdom) - See all my reviews
A very readable book. However, for those of you looking for advice on the mechanics of putting together an alternative income source, look elsewhere. This book is geared to encouraging you to do so, and telling you why you should, rather than actually how to do it. More of a motivational tool. Some of the financial aspects don't travel across the Atlantic too well either.
The book's main points are
You won't get rich in the rat race (but you knew that already)
You won't get rich by building debt
You should acquire assets (income generators) rather than liabilities (things you have to pay for like houses with mortgages, cars and so on) and do this before you buy luxuries (i.e. invest then spend, not spend and have nothing left to invest)
You should keep your eyes open for investment opportunities (obviously)
Higher risk can give higher return - you won't get rich based on a savings account
All pretty obvious stuff, if you really think about it.
All in all, somewhat disappointing, as it lacked meat on the bones IMHO. I wouldn't mind betting that the Rich Dad Poor Dad brand is doing considerably better for him than dealing in condos in Phoenix.....
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44 of 49 people found the following review helpful
1.0 out of 5 stars Nope....It isn't what it pretents to be....., 8 Sep 2007
By 
I. Ioakimidis "Johny b." (Athens, Greece) - See all my reviews
(REAL NAME)   
I couldn't help but notice the emotional appeal his writings hold, using various motivational, logic-breaking and controversial methods. Being a professional Business and Market Analyst with working experience - among others - in a big multinational corporation, as soon as I finished his book "Rich Dad Poor Dad" I felt that something was TERRIBLY WRONG with his advices. Moreover, I felt like being emotionally manipulated towards a specific role model (that would be the Kiyosaki-style "financial free" individual) as well as a gross disregard of logic and common sense.

One or two personal thoughts about him and his book (RDPD) :

First of all, the symbolic paternal figure he uses as the main vehicle and base towards his teaching (Rich Dad) is - as he personally stated - maybe (!) fictional. So much for the credibility of a person who asks to shape my personal financial attitude. As history and experience have told us again and again, credibility is the No 1 factor when it comes to economic advices. How can he possibly keep on building when the base upon which he stands is probably based on a lie? How can he deny people a clear explanation about it? Sure, keeping the fairy tale alive makes people more happy, more eager to believe and more sentimentally attached to him, but does it make them better entrepreneurs or investors? I seriously doubt it.

People may step-up and say that it does not matter whether he lied or not, whether he is technical correct or not, whether he is right or wrong as long as he provides them the motivation they need in order to think for their financial future. That is also EXTREMELY misleading. Being a professional business analyst, I believe that there is MUCH MORE to succeed in a competitive market environment than merely the will to do it. It takes careful and detailed planning and analysis, a calculated approach to risk and a deep understanding of the market in which you compete as well as a strong background in at least basic financial, marketing and sales principles before you even start thinking about entrepreneurship. This can be achieved only with YEARS of experience and related education and CANNOT be taught by any single book or seminar, surely not by the Kiyosaki-like emotional nonsense. And because I can hear the voices screaming "But how can all these entrepreneurs succeed?" my answer is that they had the skills to do it or the LUCK and insight, but the fact remains: the TREMENDOUS majority of starters fail and, if people go by the Kiyoasaki-principles, I fear that the failing percentage is about to climb even hihger.

When I say that he is misleading, even fraudulent , I mean that he encourages people WITHOUT the necessary skills, background, attitude and experience to seek "financial-freedom", based on EMOTIONAL MANIPULATION. This provides him fame and fortune no doubt, even recognition among economic and other cycles who seek his popularity in order to raise their numbers, but in the end he is just feeding the dream of the average un-educated individual: that one can become quickly rich as long as she wants to. I will not go on in more details about it, there is John Reed page that does just this (just type kiyosaki in any search engine and you'll come across it). I will just point out this: did Kiyosaki got his success by his entrepreneurial skills and the attitude he is trying to sell? MOST PROBABLY NOT. He succeeded by selling hope to others and to you, by lying, by deceiving millions in order to receive millions.
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Rich Dad Poor Dad
Rich Dad Poor Dad by Robert T Kiyosaki (Paperback - 23 Jun 2011)
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