I agree with everyone else in that it will change the way you think about making money. my favorite line "poor dad told me, go to school , get an education so you can get out and go to work for a good company". "rich dad told me, go to school, get an education so you can get out and buy good companies"
I'm making my 16 yr old stepdaughter read it now because i'm hoping it will help her think about her money, investing in her future and not make the same mistakes that i made
This was the first educational book I ever read and boy did it open my eyes... Many people knock it because he didn't give them a step for step process as some books do but that was not really his intentions...He opened your eyes to be more then you could be and in my mind that far outwieghed the alternatives...
Real Estate Investor · Georgetown, MA · Member since 2008 · 250 posts · 6 votes
19y
Just finished this book last week.
A lot of people said how great the book was in terms of teaching you how to manage money or create wealth through income producing assests. Much of this stuff I knew well ahead of time and it just re-enforced it. I have had a solid financial background all my life and that was my major in college, so I believe I have a better grasp on that stuff then the average person. I still though he put it simplistically which is a great way to drive stuff into your head.
The stories, the motivation and conviction he speaks with is great to see. The single biggest thing I gained from this book is taking action, stepping up to the plate and taking the risk. I know this is a book that I will re read multiple times in the future to keep the wheels churning in my head.
But as for now I "have a good education, stuck in my secure job, and playing it safe". Hopefully in 6-12 months this will all change. I am young(24) still weighing all my options but book just made me want to change my direction all that much faster.
There are some questions I have in the book. I'd like to reference some pages and see if someone can help me understand it better. When I get home I'll take a look through and see if people can make me see the light in a few of these situations.
I definately would recommend the book for anyone who is looking to understand what life should be all about and not what society "hurds" us into. I think this is the main reason why most of us are here...looking for that change.
Dallas, TX · Member since 2008 · 73 posts · 0 votes
19y
many people call him a crook, and maybe he is, but his book was so inspiring to many people. To me, it really gave me a different view of what life is. I was watching the big idea on cnbc the other day and there were these young millionaires, 23 and 25 year olds, that were first inspired by this one book. I read this book a few years ago and it motivated me to look for something out of life instead of a raise I never got. So here I am, tryin to learn about real estate investing.
Real Estate Investor · Denver, CO · Member since 2008 · 133 posts · 7 votes
18y
A great book!
I have it on audiobook.
Couple of criticisms:
1. No real investment strategy advice; really just a primer on leaving the rat race and re-conditioning the idea of wealth
2. The stories in the book are definitely made up (I think he took some of the things a little far). For example, did he really meet a young lady in Singapore who got up angrily from an interview when he suggested she take a marketing course? Nothing wrong with an anecdote like this, but I would say that this book is no biography either.
Real Estate Investor · Terrell, TX · Member since 2008 · 30 posts · 4 votes
18y
I read a couple of the books. I will admit, he is good at motivational speeches. But, there are huge mistakes in it (like using a 1031 exchange into a mini-storage.....flatly illegal per Section 1031...this sort of caught me by surprise as the co-author is supposedly a CPA). Not someone I would take advice on "technical" information. Some of the advice is just plain stupid while others are pretty good.
Bottom line....
Read it for motivation, but seek other resources for "how-to".
Rental Property Investor · Lisbon, CT · Member since 2008 · 120 posts · 29 votes
18y
I definately believe in the motivational power of this book to enable different views on money and success. This book started it all for me.
I was actually looking for an entrepeneureal book to learn about business and the title caught my eye. I didn't put it down till I was done.
I've read almost all of Richards books and while they aren't strategy based, they have allowed me to broaden my thinking and investigate more ideas. And the more knowledge I gain the easier it is to learn new things.
Professional · Salt Lake City, UT · Member since 2008 · 38 posts · 5 votes
18y
I've read most all of Kiyosaki's books. The one I've read over and over is Retire Young Retire Rich. It has enforced that I'm on the right track and keeps me continually motivated.
The “my rich dad/poor dad” thing gets old but every author has some kind of tag line to emphasize their point.
I highly suggest reading it, twice.
The question I have is if the high priced seminars are worth the money? I saw one post of someone who’s attended one, anyone else?