Personal finance author and lecturer Robert T. Kiyosaki developed his unique economic perspective from two very different influences - his two fathers. This text lays out Kiyosaki's philosophy and his relationship with money.
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Naturally, since rich people are not actually a secret society, but only people who have money, I was disappointed. The book does not tell you the secrets and it cannot. I was also very much annoyed by the book, and therefore - here is a summary, which is probably more accurate than the back cover of what this book contains.
The things I liked:
- The book tells the getting rich story of the author, the path he took and where it got him. The story is told well, is inspiring, and the dramatization is adequate
- The book provides a decent reference for actual content, telling you which subjects to learn and pursue in order to increase your chances of becoming rich.
- The book is effective in convincing you that becoming rich is possible, and the authot is honest enough to admit that it takes time and that it is not easy.
The things I disliked:
- The book is repetetive. It appears as though the author did not have enough meat for a whole book, so he just hit the repeat button, instead of adding some meat to it. Or else, the author believes that by repeating statements they assume greater validity. Anyway, it's rather annoying.
- The book is lacking in actual content. After listing several topics that you should learn (marketing, accounting, etc.), I'd expect the author to at least provide primers on these subjects. However, he only recommends other books.
Most importantly, and here's a WARNING, the book pushes you to get rich for all the wrong reasons.Read more ›
The author challenges us to re-think our financial priorities and the way we define assets and liabilities - i.e. houses, cars and golf clubs are NOT assets in that they suck money out of us rather than generate a revenue stream for us.
In fact the whole message of the book could be summarized by saying, "start early and put money aside into investments that will eventually generate enough revenue for you to retire".
The writing is very average, the book is quite repetitive, and the author comes across as pathologically obsessed with money and annoyingly ego-centric. In fact, he appears to have thought about very little in his life other than golf and making money, ever since he was a kid. And in pursuit of making money he chose (as he has a right to do) to forgo a lot of fun things along the way such as baseball as a kid (too busy working for free for "Rich Dad") and having kids (I'm guessing here - but it's clear this guy would see kids as a financial liability - and you can't have that dragging you down).
It's fine for him to make his own choices but he portrays working class people (which includes most of us) as pitiful, lazy, scared and generally pathetic failures who are all very unhappy. He genuinely seems to believe that we can't possibly be enjoying life because we're not financially independent like him. I felt sad for him.
The title refers to the fact that his biological father worked at a job (professor) his whole life while a friend's Dad (the Rich Dad, here) taught him how to invest and get out of the "rat race". That's all fine, but despite the fact that his biological father seems to have been a decent Dad the author essentially disparages him and drags him through the mud throughout the book.Read more ›