Home > Media > Books > Robert T. Kiyosaki and Sharon L. Lechter - Rich Dad Poor Dad: What the Rich Teach Their Kids About Money-That the Poor and Middle Class Do Not!
Robert T. Kiyosaki and Sharon L. Lechter - Rich Dad Poor Dad: What the Rich Teach Their Kids About Money-That the Poor and Middle Class Do Not!
jankp's Full Review: Robert T. Kiyosaki and Sharon L. Lechter - Rich Da...
If you are going to be open to reading sound financial advice from a best-selling author who retired at age 47, then I hope you'll read on. This book by Robert Kiyosaki is written for you. He does not talk down to his readers as if they are stupid or to blame for their financial challenges for he blames the problem squarely on our antiquated school system. Not only does that system only prepare students to get a good job where one works for the boss, government and the bank for the rest of one's life, but the system is also taught at home.
Kiyosaki describes his childhood when he first learned there was another way to be taught which would let him become rich by making money work for him instead. His own father was of the old school, a teacher who had a great education and yet was poor. His friend Mike had a rich father, though, who owned several businesses and yet had never gone to high school. He notes that this is the primary reason school is seen as boring and unnecessary by many students who drop out or fool around in school. They know there's an easier and better way to make it in life, just by looking at sports stars and computer geeks, for example.
How does the author learn from his "rich dad"?
He and his friend go to work for Mike's father after school in one of his businesses, cleaning the place up for only pennies a week (a dime an hour to be exact!). Of course, they demand a raise or threaten to quit, but rich dad explains that he has been teaching them how to be successful in life as they requested. They now must work for free! In a few weeks, he tempts them with a quarter an hour up to five dollars an hour, but, as the author puts it, "the part of my soul that was weak and needy was silenced. The part of me that had no price took over." Now they understand the uselessness of working like a slave for money and that they need to get angry so they're not pushed around by life.
That is only the beginning of his lessons. The boys start looking for an opportunity to make money from nothing, to create it using their heads, and no longer working at the store, they see their chance at the library. They take the used comic books being thrown away and open up their own library of comic books in the basement, charging a dime for a full days' admission. They hired his sister to be the librarian while they raked in the dollars.
Let's Get To The Point!
While Kiyosaki can take his leisure getting to the point, he still kept me interested throughout the book. Sometimes it was indeed repetitive, but it was easy to skim over that to the main points made. He does not claim to be a best-writing author, only best-selling, and much of the book is a dialogue between the boys and rich dad as seen here:
"Can you tell the difference between emotions thinking and the head thinking?" Mike asked.
"Oh, yes, I hear it all the time," said rich dad. "I hear things like 'Well, everyone has to work.' Or 'The rich are crooks.' Or 'I'll get another job. I deserve this raise. You can't push me around.' Or 'I like this job because it's secure.' Instead of 'Is there something I'm missing here?' which breaks the emotional thought, and gives you time to think clearly." pp. 49
I don't know about you, but I hear emotions talking more than heads talking and I found it very interesting that Kiyosaki showed and explained how harmful such emotional statements are to our financial future. He gives us seven lessons expanding on this lesson and then a few chapters on how to overcome obstacles and how to get started mentally and physically. Parents may especially find his epilogue helpful as he takes us through the steps a parent took to raise enough money to send his four children to college. He did it with an investment of $7,000 in twelve years!
Final Thoughts
This book is a bestseller for a reason, in my opinion. If you are already rich and know how to make your money work for you, then don't bother with reading Kiyosaki's book. If, however, you're stuck living from paycheck to paycheck, you will learn a new way of looking at money and life from reading this book, I daresay. It only takes an open mind and the willingness to take time away from "the rat race" for a few hours.
Thanks for reading. Hope you'll check out his other books, such as the recently-released The Rich Dad's Guide to Investing. He recommends about sixteen books for reading, one of which I've read, enjoyed and reviewed: Michael Gerber's E-Myth. There are many stylistic similarities in Gerber's book with Rich Dad, Poor Dad.
One last note: Kiyosaki is very much for education, but the right kind. He teaches financial intelligence through using Cashflow, his Monopoly-like game. He attends seminars, reads books and listens to everyone he meets to learn from them.
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