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4 of 4 people found the following review helpful
5.0 out of 5 stars How to Retire Young and Retire Rich-A world w/o paychecks?
Robert Kiyosaki started with nothing and in less than ten years, retired financially free. He enjoys a lifestyle that we all wish we had. One of the first mindsets or mentality that he had to change was to succeed in a world without a paycheck. This is in a world that practically deifies a job and a paycheck.
Kiyosaki explains that most people have 50%-100% of their...
Published on June 30 2004

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6 of 8 people found the following review helpful
2.0 out of 5 stars Caution is advised...
RY RR, and basically all of Kiyosaki's books, are motivators. They try to rev up people about going out and being creative in their finances and working outside the traditional job market.
Ok. That's good. Most people ignore their economic health far too much and ignore possibilities for creative investing / owning a business and thus scuttle their chances for a...
Published on July 10 2003


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6 of 8 people found the following review helpful
2.0 out of 5 stars Caution is advised..., July 10 2003
By A Customer
This review is from: Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! (Paperback)
RY RR, and basically all of Kiyosaki's books, are motivators. They try to rev up people about going out and being creative in their finances and working outside the traditional job market.
Ok. That's good. Most people ignore their economic health far too much and ignore possibilities for creative investing / owning a business and thus scuttle their chances for a comfortable retirement or financial independence.
But Kiyosaki, while giving the reader no hard data, seems to think that owning your own business/investing in real estate is very easy. He encourages people to quit their jobs and work for themselves. He ignores the fact that 9 out of 10 small businesses go belly-up in the first five years. He ignores the fact that many small businesses never make sufficient profits to for a famliy to live on. He ignores the fact that real estate has business cycles, management can be a huge headache, and there are many hidden costs that can cripple small scale investors. What are these people supposed to do now that they've blown their savings and have no job?
Motivation is great, but without education novices are going to fail. Kiyosaki provides nothing beyond the most rudimentary education in this or pretty much any of his books. He does encourage further reading, but he really needs to inject a bit of reality into his books.
Furthermore, Kiyosaki appears to be making up most of his personal experiences. A review of the Maricopa County, AZ assessor (where he lives) shows that he owns only two properties: his own home(worth far less than he claims) and one possible single family rental. Not what the reader is led to believe. Historical records also indicate that he wasn't exactly the real estate mogul that he implies to his readers in the 80's and 90's in AZ. He did own a few properties, but his net worth and passive income could not have possibly been what he claimed based on it. It's also doubtful if he made the kind of fortune he claimed before his books hit it big.
Even the omniscient Rich Dad appears to be a myth. Seems like it'd be easy to track down the multimillionare who lived on the same street as Kiyosaki when Kiyosaki was growing up. But nobody living or dead seems to fit the bill. In fact, nobody living or dead in Hawaii seems to have owned the variety of businesses that Kiyosaki claims Rich Dad owned. Couple this with the fact that Rich Dad doesn't get an acknowledgment in Kiyosaki's early books (which give acknowledgements to pretty much everyone else, including his Poor Dad), and it seems that we're all being swindled.
So, take this book with a big grain of salt. Use it to get motivated about taking your financial destiny in your hands, but please learn from qualified advisors before you risk everything.
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4 of 4 people found the following review helpful
5.0 out of 5 stars How to Retire Young and Retire Rich-A world w/o paychecks?, June 30 2004
By A Customer
This review is from: Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! (Paperback)
Robert Kiyosaki started with nothing and in less than ten years, retired financially free. He enjoys a lifestyle that we all wish we had. One of the first mindsets or mentality that he had to change was to succeed in a world without a paycheck. This is in a world that practically deifies a job and a paycheck.
Kiyosaki explains that most people have 50%-100% of their income is from earned income from a J-O-B. BIG MISTAKE! Those who retire young and retire rich do so from portfolio income. From passive income. From residual income.
How do you do this? You create a business. It can be network marketing or a franchise (if you have that kind of money sitting around or the ability to borrow it) Or it could be real estate (my choice--no downlines, uplines, sidelines, monthly quota's, sales volume requirements etc.) Or you could write a book. Self publishing is flourishing today because many people have excellent ideas and eager to disseminate these ideas in the form of a book.
Retire Young Retire Rich is an excellent book for anyone who regardless of their present income or level of wealth, wants to retire financially free and financially independant within 10 years or less.
Great book. Maybe his best to date.
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5.0 out of 5 stars Can you get rich quickly?, July 6 2004
This review is from: Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! (Paperback)
This installment in the Rich Dad series Retire Young Retire Rich is also subtitled How To Get Rich Quickly and Stay Rich Forever.
Kiyosaki tells us that it took Rockefeller 16 years to become a billionaire in his time. And it took Bill Gates 10 years to reach the billion dollar status. However it took Mike Dell and Steve Case only 5 years to become billionaires. It's easier than ever.
In Retire Young Retire Rich, Kiyosaki pounds to death the concept of leverage. One chapter I found interesting was the leverage of generosity. Kiyosaki discusses how his Rich Dad taught him reciprocity and service. He states an age old law "Give and you shall recieve." Kiyosaki says thath is rich dad taught him that if you want to be rich, you must first be willing to serve as many people as possible.
Aaccording to Kiyosaki, Rich Dad believed inthe law of reciprocity and in the idea of being generous was the best way to becoming very, very rich.
Kiyosaki also talks about networks and network marketing. He goes on to discuss the power of networks and the importance of leverage ratios and goes on to say that you can b ecome exceptionally wealthy in a short period of time by doing so and at a fraction of the cost.
I noticed that Retire Young Retire Rich is recommended here by a Nationally recognized CPA. I am glad that people of quality appreciate Rich Dad's and Robert Kiyosaki's work.
I'm with a company that does business around the world and the most successful people I know are exercising the concepts espoused by Kiyosaki and are becoming very wealthy as a result.
So can you.
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5.0 out of 5 stars Probably his best book, July 6 2004
By A Customer
This review is from: Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! (Paperback)
I read Rich Dad Poor Dad, CASHFLOW QUADRANT and RICH DAD's GUIDE TO INVESTING first and learned something new from each book. Retire Young Retire Rich is ideal for anyone who is sharp enough to realize the folly of betting on social (in) security, a company pension or a 401 (k) (should be called 101 (k) based on what they are worth after following your company's advice)
With the advice in Retire Young Retire Rich, we all can truly retire young and retire rich.
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2.0 out of 5 stars Deja vu, July 5 2004
By A Customer
This review is from: Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! (Paperback)
I read this one after reading Rich Dad Poor Dad - the first in the series. I can't say I learned anything new. The author's point of view is made clear enough by the first book, and as I put this one down I got the feeling it was time to move on to books by others, and broaden my perspective on the subject.
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5.0 out of 5 stars Kiyosaki Actually Did It, June 14 2004
By 
Thomas P. Au (New York, New York) - See all my reviews
Robert Kiyosaki "retired" when he was only 47 years old. (His wife was only 37 at the time.) Most people would consider that an early age at which to retire. In order to accomplish this, you need a "fast" and "sure" financial financial plan.
The way to do this is to use the power of leverage, otherwise known as "other people's money" (OPM). Kiyosaki's vehicle of choice was real estate, and he credits mortgage brokers with enabling his early retirement. That's because he was using their money to retire (through mortgages on his apartment houses), rather than his own money. He is a "value" investor who invests for cash flow and depreciation (read, tax breaks), which are known ahead of time, rather than appreciation, which is uncertain.
In fact, Kiyosaki's "fast" plan is really about getting other people to help you get ahead financially. For instance, if you own 500 (fully rented) apartments, and each unit yields you $50 a month after mortgage payments and expenses ($600 a year net), that's an income of $300,000 a year. The more units you own and the more people you serve, the more money you make. The greatest opportunities lie in low income housing, where the U.S. government wants "qualified" (experienced) landlords to help it solve the problem of housing poor people, and will provide generous subsidies. Alternatively, you can own and manage one or more (small) corporations using teams of people that you assembled yourself. If you know how to work with different types of people, you can "play the fastest game in the world."
I am looking at my 47th birthday as an opportunity to "retire" in a similar fashion to Kiyosaki. I believe I have a "critical mass" of capital, although I don't have his experience with turning around failed companies. Will his methods work for me? I'm about to find out.
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5.0 out of 5 stars A Great Book to Read If You Want to Retire Rich and Young!, March 6 2004
By 
Amazon Customer (Pleasant Grove, Utah United States) - See all my reviews
This review is from: Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! (Paperback)
I was so excited when I first read this book and I am still excited after reading it two years later. It is great to have a book that goes through a personal story and then tells you how you can apply the ideas in your life in many different ways. Robert and Sharon did well with this one. If you want to build a future for yourself outside of the rat race, this book is a must read.
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4.0 out of 5 stars A change of mind, March 2 2004
By 
W. Wade "Willhime" (Austin, TX United States) - See all my reviews
(REAL NAME)   
This review is from: Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! (Paperback)
This book is good for people who doubt whether or not getting wealthy in life is easy. It's all a matter of the right mind set. When people hear that it's about the state of mind they're in, they tend to blow it off thinking they've heard 'that' before. This book tells you why you need to change your thinking and how to go about doing it.
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5.0 out of 5 stars An enlightening novel, Jan. 20 2004
By 
Evan Wearne (Silver Spring, MD United States) - See all my reviews
(REAL NAME)   
This review is from: Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! (Paperback)
This is the novel that did it for me. It is the third novel of Robert T. Kiyosaki's that I have read. I also have read Rich Dad Poor Dad, and Cashflow Quadrant. The first two books were exciting to read, the information in them is priceless. But this is the book where I finally realized the power of what I think. There is one particular line that I remember especially, First identify what I am afraid of, then ask myself what I want instead, then ask myself how to get it. As he says repeatedly, it is not the content that matters as much as the context. I don't know if I really understand all the stuff about leverage. But what is more important than that, is that I limit me. My thoughts limit what I do, and they also allow me to retire young and rich. I don't know how someone can't like these books unless they are a cynic, arrogant, or lazy. I encourage you to buy this book and read it. And then read it again like I am going to do.
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5.0 out of 5 stars IT'S ALL IN THE MIND, SO TRUE, Jan. 16 2004
By 
MISTER SJEM "sonofhotpie" (CALIF BAY AREA United States) - See all my reviews
This review is from: Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever! (Paperback)
Of all the RICH DAD books this is my most favorite.
Why? Simply because we've got someone who can walk the talk, telling us that most of the resistance we experience in making money is our own limitations.
It didn't make sense when I was working a day job. Sounded like a bunch of huey, really, but, once I started down the entrepreneurial path, that all changed.
I'm in total agreement. Most of the limitations Americans experience with wealth is all in their heads.
That said, for those willing to take a deep look in themselves and who are willing to grow, this is one of the best books on the matter.
Highlights included:
(1) The most expensive advice is free advice b/c the wrong advice can destroy you. How many times do we take advice from next door neighbors about stocks when they know nothing, or, almost nothing? What does this have to do with mental limitations. Plenty. The people we associate with or want to believe can hold us back if their advice isn't accurate. I wouldn't take advice from journalists on TV, who make less than 100k yet give advice on the stock market daily, would you? Well, lots of people do listen to them.;
(2) The power of expanding one's reality. How many things do we feel are not true yet are? Wasn't their a time when we believed man could not fly and now we can fly?;
(3) Why do most of us not have a financial plan? Why do we rely on the govt to take care of us? Why do we choose to not have a long term plan?;
(4) Why the language we use restricts us even if we choose to believe it. If we say CANNOT or SOMEDAY how does that make us feel? How does it not serve us?;
(5) Setbacks and how they help us. Most people give up when they're really close.;
(6) How to create a winning team to assist you;
(7) The velocity of money application; and
(8) all types of leverage to achieve our financial goals.
Highly advised reading.
NOTE: seems like there are more Kiyosaki negative bashers, to, let me list some hard results. Before these books, I made about 50k per year. Now, I make triple that. These books were part of the reason. I meet a lot of people who talk negatively about RK and who complain about their financial lives. No surprise.
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