Customer Review

32 of 36 people found the following review helpful
3.0 out of 5 stars Can't be as positive as everyone else, 24 July 2003
This review is from: Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money (Paperback)
This was the first finance book I read just under a year ago. I was a few months into my first job and was wondering what to do with my money. At the time I liked it however I have since read a lot more books about different fincancial areas etc. I would say this.
-/+ Many of the books this recommends in the course of the text are better than this. Often having read them I felt the author wasn't really a finacial genius he just knew how to outline the main points of some other good books
+ He is right in that we aren't taught about finances properly in school and I found his assets and liabilities info quite good. If I ever have kids I will make sure they are more financially literate than I was, but, money really isn't everything despite what he says.
- Often the book is used as a sales pitch for his other products and its difficult to see past this as he is very good at appealing to the reader by telling you, you are a superstar the whole time followed by 'so try my other product'. Its a good pep talk at times
- When you read his 2nd book you find out he was bankrupt. It strikes me as odd given that Rich Dad educated him from such a young age he should have been bankrupt I know we all make mistakes but...
- If you look at the series which has now grown to loads of books and games the book ratings on Amazon are progressively deteriorating. I know that doesn't mean much for this book in particular but I think it says something.
- The author seems to contradict himself at times. I've read many articles about him on the net. He claims the investment strategy he favours is taking startups to market and then getting out. Yet in other things I've read he says he doesn't know enough about the stock market to give advice. In one article he says to put your money in mutual funds in another he's said to avoid mutual funds. Look on the net for stuff about him.
- His property claims are a bit too american orientated and given the state of the British property market price wise and structurally (not pun intended ; ) ) its unlikely your average person can expect to perform such wheeling and dealing and pick up bargains like he does.
- I think he makes you think you can make mega bucks year on year and appeals to our more unsavoury sides such as greed and over self confidence. Even Warren Buffet the worlds greatest investor only aims for 15% a year growth.
I'm sorry for being negative so why 3 stars. Well I guess it got me thinking about my finances, which, has lead me on a better financial path, although I think its my other readings that were more beneficial. I bought the 2nd book but then things seemed too good to be true and I found him repeating himself the whole time. There is some good advice in there and its a good read but there's also a lot of psychology in order to make the whole thing appealing and I'd be careful not to get carried away.
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