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The Good, The Bad and the Ugly...,
This review is from: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money-That the Poor and the Middle Class Do Not! (Paperback)The Good:
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. That's a very ingratious way to treat someone who brought you into this world and provided you with food, shelter, clothing and a decent home. In fact, the author seems to loathe his father for no other reason than he was not rich.
The author's loathing also extends to humanity in general. He loathes and feels sorry for just about everyone who isn't him - including his so-called "friends". He gives several examples that start out "I have a friend who ..." and invariably end with the author explaining why his friend is a short-sighted idiot with no vision who wouldn't take his advice.
He makes some good points about how we should view money and prepare for financial independence. But he came across as so shallow, arrogant, ingratious and condescending - that he left me wondering whether obsessing over financial independence comes with a huge hidden cost that he is incapable of recognizing.
Note: In all fairness I must mention that there were a few paragraphs that talked about giving money to charities, but they weren't very convincing in the overall scheme of things.