Rich Dad Poor Dad (What the Rich Teach Their Kids About Money - That the Poor and Middle Class Do Not!) Hardcover – January 1, 2009
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- Publisher : First Borders Edition 2009 (January 1, 2009)
- Language : English
- ISBN-10 : 0446568813
- ISBN-13 : 978-0446568814
- Item Weight : 14.4 ounces
- Best Sellers Rank: #196,565 in Books (See Top 100 in Books)
- Customer Reviews:
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We are planning to read other great books, too. It is time to prosper!
One of the secrets to success is to read ONE book a month. Half of them should be self help books like this one.
-I didn't really enjoy the tone of this author
-There are more important things I need (and care about) to focus in my life right now aside from money/investing.
-I was afraid the rest of the book would be repetitive (I was already seeing that occurring in the portion I read)
I would like to mention a few parts of this book which very much infuriated me.
-At the very beginning is the popular poem, "The road not taken" While it may seem that this poem means that taking the road less traveled will enhance your life (which seems to be the theme in this book) however, this poem is not telling that (at least in my opinion and some other people's). This poem says it doesn't matter whether you take the road most or least traveled by, but if you take the road least traveled by, you typically will have a different story to tell. That's how I feel about this book. Money is not the most important thing in life, so whether you are rich or middle class, it won't make much of a difference.
-I felt like the author throughout this book was talking in a manner that made him sound like "He was superior" and "above everyone" because he knew "how to get rich" and "not to be a slave to a job." As if that was the worst thing that could happen in anyone's life. I especially found this to be the case on page 27 "You're staring at one of life's biggest lessons. If you learn it, you'll enjoy a life of great freedom and security. If you don't you'll wind up like Mrs. Martin and most of the people playing softball in this park." It sounds as if working for a company is the equivalent of living in prison, the way I read this line. I know the author is probably not trying to say that, but that's what I feel from his words.
-Some things in this book were too simply-put. For example, page 36, "Prices go up because of greed and fear caused by ignorance." I really don't know anything about economics, but I feel like prices go up due to many more variables than that. On page 32, "A job is really a short term solution to a long term problem." So, the long term problem is that we need money? Yes, that I can agree with. But, how important overall is this problem in our life as a whole? Should we forget about our family and friends and hobbies and put all our energy in learning how the "rich system works"? Is it worth it in the end? Or should we go to school and educate ourselves on something we care about, and then spend our lives doing something we care about? Yes, once we do get rich, we will probably have plenty of time for friends, family, and hobbies, but can everyone get rich? I don't know much about money, I admit it, but I believe luck also plays a part in becoming rich, more than trying to take "all the right steps and risks."
-Something else that was too simply put "The main cause of poverty or financial struggle is fear and ignorance, not the economy or the government or the rich" Really? Really? Gosh, I never knew that anyone had any idea of a solution to poverty! I didn't know it could be that simple! There are many more causes of poverty, such as mental illnesses, addiction, not much education, and the high costs of health care. Yes, maybe ignorance can be part of it, but it is not the only reason, and I do not believe it is the main cause. There may be no main cause of poverty; it may be due to a myriad of reasons.
-Overall, I felt something felt wrong about the beginning of the book, the fact that the author was 8, worrying about money, wanting to be rich. Kids that age shouldn't be thinking about those things.
-The author just seemed to talk as if money was the most important thing in the world, (maybe I'm being biased here because the main idea is that this whole book is about making money) and people who worked because "they love their job" (pg 32) were stupid and lying.
There were some parts in this book I liked.
-"Money is running their lives, and they refuse to tell the truth about that. Money is in control of their emotions and their souls." (pg 30) That, for the most part, I could not disagree with, as I am guilty of it myself and I know many people who live this way. However, I don't think the perfect solution to this is putting so much of your energy and focus into becoming rich. I find most people who have this issue, mostly have this issue because they are buying a lot of things they don't need (i.e. expensive clothes, cars, new phones, new furniture, etc.) but of course some people do indeed spend every penny they have on rent, food, and other needs but can't make it. And usually those people are definitely not the people who have the liberty to take a "risk", drop their low-paying job, and follow the words of advice in this book.
-"The avoidance of money is just as psychotic as being attached to money." Even though this is most agreeably a hyperbole, I think this is a true notion. However, I probably read this differently than when the author wrote it. From what I read in this line, I'm seeing "Not thinking about money at all can be just as dangerous as being obsessed/too focused with/on it"
"'I've met so many people who say 'Oh, I'm not interested in money.' Yet they'll work at a job for 8 hours a day. That's a denial of truth." I agree with this line, however not everyone goes into a job because of the pay. Maybe people take a little lower paying job because they like it? Or work for a higher paying job because they like it? Yes, of course everyone wants and needs money, but money is not everyone's primary motive in life.
Overall, I didn't enjoy this book because of what the author's worldview seemed to be. Every self-help book seems to come and tell people "LOOK, GUYS, I HAVE THE ANSWER, THIS IS HOW YOU CAN MAKE YOUR LIFE BETTER" and it was no different than this one. "FOLLOW MY GUIDE, AND YOUR LIFE WILL CHANGE FOREVER" Well, what if I don't agree with your guide? Have you considered that your guide isn't for everyone? Self-help is not concrete, while this book may seem valuable to some people, I found this book insulting for me to read. Although, there were a few lines that made a lot of sense to me.
I can tell you how to manage your finances. Control your expenses, establish a budget with a definite end goal, invest your deferred income in sound financial investments that support the end goal of budget, and beware of slick conmen and conwomen who seek to sell you a pie-in-the sky-opportunity. Do not over buy in houses and cars and vacations, true traps of ego and wantonness. All the author has to offer is a cautionary tale of wantonness.
This fool, author, has. no true advice to offer. I am going to ask for my money back, and I recommend you do not buy this book.
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On the other hand this book reads as very insincere and the stories which the author tries to portray as real life examples all come across as hypotheticals. I'm tempted to say that this best selling author who is supposedly an investor has probably made the bulk of his profits through this book and not investments. I say this because his own personal investments relayed in the book are not very detailed and provide no lessons. They are simply a repetition of - I bought a property at a cheap price and sold it at a profit... every time.
I'm disappointed in myself for having contributed to the authors business but there was a little benefit, though maybe not worth the investment. This is my first exposure to business related books. I'm sure there are better out there so my advice would be to start elsewhere.
Claims that he was forging coins pouring molten metal on his driveway at 11 year old however made alarm bells ring and my suspicions continued through the book, which marred the overall experience. Above all, the two Dads (or at least one!), don't exist. It's just a fabrication to convey a point.