So I just finished reading "Rich Dad Poor Dad What The Rich Teach Their Kids About Money That The Poor And Middle Class Do Not" and I feel like I must have missed out on something given how often this book as cited as THE GO TO beginner book for real estate investment. I also just finished reading "The Book On Rental Property Investing". The latter book gave me approx. 3 pages of short notes and tips covering all of the page; information that I'll want to make sure I internalize and make sure I put to good use. The former book gave me three sentences and, I personally feel, could be summed up thusly: Make money work for you (not vice versa), Fear holds you back (learn to control it and act), Educate yourself continuously and find experts to learn from (failure is a form of learning). As someone spending money on investment books and real estate, I feel like I must have missed the point of Rich Dad Poor Dad because it seems to me to have basically boiled down to a pre-game pep talk from coach letting you know that you can do it if you try. I know I need to make money work from me. I clearly chose to do this through investing because I'm reading a book on how to do it. I know I'm going to be scared of losing my money until I can control my risks. That's how we, humans, feel every time we ever try to do something for the first time. Educate yourself. Really? If that isn't the biggest "Duh" when trying to figure out how to do something new I'd love to hear what is. The reason I bought the book was that I was trying to educate myself and gain useful information that will help me succeed in this game. Information like, "Watching commercial building trends can direct you towards new growth areas." I was not looking for platitudes and pick me ups. I was hoping for tangible, usable information that I could apply to my business strategy and mitigate risk. So did I miss something? Is the book supposed to be a pep talk? Or did I miss something major? I truly want to know if somebody got something more out of the book as I'm eager to learn and chewing through as many books as I can.

My objections to the content of RDPD are many. However, I find the MOST fault in the way hard working and highly educated people are belittled, while examples of "successful" dad is this guy who no longer has to work. First of all, all success is not monetary. Many hard working people who are not rich work for another purpose, not the least of which is self actualization. Secondly, the most successful people I know have worked long and hard AND are highly educated.

I don't think you are off-base at all. It may not have been put out as a pep talk specifically, but I think more of the point of it and why it's gotten so much popularity is because it explains a different way of thinking about money than most people were taught growing up. You may understand all those things, but not everyone does. And even the people who get it conceptually, may not understand how to apply it more practically. It's definitely not a 'how-to' book, by any means. But if there were only how-to books out there, they would lose half the crowd because they were in the wrong mindset for investing in the first place. So I'd call it more like a "thought-provoking" book and then also as "supportive material". Not a how-to.

I read RDPD after listening to probably 60 Bigger Pockets podcasts.. I assumed it was a real estate book and when i read it I didn't really see it.. What I took away from it is that you need to change your thinking and how you look at money if you ever want to retire the way you want to or if you want to be rich Money is nothing more than employees and you choose if you send them away to die or if they are going to work for you!

Rich Dad Poor Dad: Did I Miss Something?

Tim Ryan

Investor / Mentor / Contractor · Arcadia, CA Buying Out of State · Member since 2015 · 655 posts · 622 votes

Rich Dad Poor Dad: Did I Miss Something?

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