Is Rich Dad Poor Dad Worth reading?

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Jeremy Horton
Rental Property Investor · Somewhere over the Rainbow · Member since 2021 · 1k+ posts · 1k+ votes
3y

Sure is - quick easy read 

the overwhelming theme is a mindset shift to seeing things as assets vs liabilities

I think it's a good book worth a read

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  • Simon W.Business Member
    Real Estate Consultant · Lehigh Valley PA & New York City · Member since 2013 · 1k+ posts · 687 votes
    3y
    Quote from @Forrest T Schue:
    Quote from @Simon W.:

    It is a quick read, but it's way overrated. The ideas aren't anything new.

    Maybe not new ideas now, but probably are to most people who first read it. A great starter for a mindset shift and easy to understand. 

     Plenty of other books that give better insights and mindset shift. It's a fun and quick read but it repeats itself a lot. 

    To summarize, use debt to get assets and not pay taxes. Go buy rental properties to get passive income. Buy a cheap used car because it depreciates too quickly without bringing any income. Don't work to get a paycheck because you will be paying taxes. Did I mention he really emphasizes on not paying taxes?

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    2Reply
  • Joanna Golden
    OP
    Rental Property Investor · Dobbs Ferry, NY · Member since 2018 · 48 posts · 16 votes
    3y

    I wrote a review that goes over the pro's and cons of the book here for anyone thats interested (below)

    https://thefinancialappetite.n...

    0Reply
  • Joanna Golden
    OP
    Rental Property Investor · Dobbs Ferry, NY · Member since 2018 · 48 posts · 16 votes
    3y
    Quote from @Nathan R Andersen:

    I thought it was great. There is a revised version updated to 2017 which is great. 

    I would say it is an amazing book and you have to take the information and understand how to apply it. Not everyone's goal is the build a massive corporation and take it public to become the next Bill Gates, so you have to find the nuggets and apply them in your own life. 

    I would also advise listening to the information about doing things personally and taking control of things like your personal income statement and balance sheet. Unless you're doing this the rest of the information is of significantly less value imo.

    To answer, definitely worth reading and highly recommended. 


     Thanks! I wrote an in-depth review here on if its worth it, if you are interested as well  https://thefinancialappetite.n...

    0Reply
  • Joanna Golden
    OP
    Rental Property Investor · Dobbs Ferry, NY · Member since 2018 · 48 posts · 16 votes
    3y
    Quote from @Simon W.:
    Quote from @Forrest T Schue:
    Quote from @Simon W.:

    It is a quick read, but it's way overrated. The ideas aren't anything new.

    Maybe not new ideas now, but probably are to most people who first read it. A great starter for a mindset shift and easy to understand. 

     Plenty of other books that give better insights and mindset shift. It's a fun and quick read but it repeats itself a lot. 

    To summarize, use debt to get assets and not pay taxes. Go buy rental properties to get passive income. Buy a cheap used car because it depreciates too quickly without bringing any income. Don't work to get a paycheck because you will be paying taxes. Did I mention he really emphasizes on not paying taxes?


    Thanks! I wrote an in-depth review here on if its worth it, if you are interested as well, at thefinancialappetite.net/content/ 

    0Reply
  • Joanna Golden
    OP
    Rental Property Investor · Dobbs Ferry, NY · Member since 2018 · 48 posts · 16 votes
    3y
    Quote from @Joanna Golden:
    Quote from @Nathan R Andersen:

    I thought it was great. There is a revised version updated to 2017 which is great. 

    I would say it is an amazing book and you have to take the information and understand how to apply it. Not everyone's goal is the build a massive corporation and take it public to become the next Bill Gates, so you have to find the nuggets and apply them in your own life. 

    I would also advise listening to the information about doing things personally and taking control of things like your personal income statement and balance sheet. Unless you're doing this the rest of the information is of significantly less value imo.

    To answer, definitely worth reading and highly recommended. 


     Thanks for your feedback! I wrote an in-depth review here on if its worth it, if you are interested as well, at thefinancialappetite.net/content/


    0Reply
  • Joanna Golden
    OP
    Rental Property Investor · Dobbs Ferry, NY · Member since 2018 · 48 posts · 16 votes
    3y
    Quote from @Joanna Golden:
    Quote from @Nathan R Andersen:

    I thought it was great. There is a revised version updated to 2017 which is great. 

    I would say it is an amazing book and you have to take the information and understand how to apply it. Not everyone's goal is the build a massive corporation and take it public to become the next Bill Gates, so you have to find the nuggets and apply them in your own life. 

    I would also advise listening to the information about doing things personally and taking control of things like your personal income statement and balance sheet. Unless you're doing this the rest of the information is of significantly less value imo.

    To answer, definitely worth reading and highly recommended. 



    Thanks for your feedback! I wrote an in-depth review here on if its worth it, if you are interested as well, at thefinancialappetite.net/content/


    0Reply
  • Joanna Golden
    OP
    Rental Property Investor · Dobbs Ferry, NY · Member since 2018 · 48 posts · 16 votes
    3y
    Quote from @Joanna Golden:
    Quote from @Nathan R Andersen:

    I thought it was great. There is a revised version updated to 2017 which is great. 

    I would say it is an amazing book and you have to take the information and understand how to apply it. Not everyone's goal is the build a massive corporation and take it public to become the next Bill Gates, so you have to find the nuggets and apply them in your own life. 

    I would also advise listening to the information about doing things personally and taking control of things like your personal income statement and balance sheet. Unless you're doing this the rest of the information is of significantly less value imo.

    To answer, definitely worth reading and highly recommended. 


      Thanks for your feedback! I wrote an in-depth review here on if its worth it, if you are interested as well, at thefinancialappetite.net/content/


    0Reply
  • Christina BurganPro Member
    Member since 2019 · 2 posts · 1 vote
    3y

    Absolutely read it. I feel like it's one of the most recommended books on the podcasts by the interviewees.

    It is an easy read amd provides a lot of insight. I give that book to all my younger family members who turn 18.

    0Reply
  • Mohit Asthana
    Investor · New York City · Member since 2016 · 45 posts · 22 votes
    3y

    i think it's a good book to get started and in terms of concepts, but in terms of practicality, absolutely not. 

    I don't listen to Kiyosaki's advice since a lot of it has been ******** in hte last 10-15 years. 

    1Reply
  • Ibrahim Hughes
    Real Estate Consultant · Bloomfield, NJ · Member since 2010 · 2k+ posts · 1k+ votes
    3y

    I would definitely say yes. Also highly recommended is the cash flow 101 board game for pre teens - adults and cash flow for kids for younger children.

    It's a great way to teach young people how to be financially responsible and savvy.

    0Reply
  • Sally FairchildPro Member
    Investor · Newport Beach, CA · Member since 2016 · 106 posts · 84 votes
    3y

    @Joanna Golden

    Yes

    0Reply
  • Dennis Nguyen
    Real Estate Agent · Seattle, WA · Member since 2017 · 150 posts · 80 votes
    3y

    That book jump-started my real estate career haha. Definitely give it a try but do NOT go to any of his workshops. I have heard they are a waste of money and only pitching you to buy additional courses. 

    0Reply
  • Account Closed
    Investor · Sunnyside, NY · Member since 2014 · 356 posts · 114 votes
    3y
    It's not a step-by-step how-to guide so you won't read it and suddenly know exactly how to go from $0 to a million. It will help you develop your perspective and it provides a great litmus test for deciding how, when, and why to invest your money.
    0Reply
  • Mike Anderson
    Rental Property Investor · Clayton, GA · Member since 2020 · 186 posts · 152 votes
    3y
    Yea it's worth it great book one of the better ones.
    0Reply
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