Reed, says, " Rich Dad, Poor Dad contains much wrong advice, much bad advice, and virtually no good advice." He also states, " Rich Dad, Poor Dad is one of the dumbest financial advice books I have ever read. Īmerican fashion entrepreneur and investor Daymond John has called the book one of his favorites. Donald Trump did a literary collaboration with Kiyosaki in 2006 called Why We Want You To Be Rich, Two Men One Message and a second book called Midas Touch: Why Some Entrepreneurs Get Rich - And Why Most Don't in 2011. PBS also honoured him with an excellence in education award in 2005. PBS Public Television station KOCE, aired a 55-minute presentation of Kiyosaki titled "A Guide to Wealth" in 2006 which essentially summarises his Rich Dad Poor Dad book. Another celebrity supporter is actor Will Smith, who said he taught his son about the financial responsibility by reading the book. American talk show host and media mogul Oprah Winfrey endorsed the book on her show. Rich Dad Poor Dad has sold over 32 million copies in more than 51 languages across more than 109 countries, been on the New York Times bestsellers list for over six years, launched a series of books and related products and received positive reviews from some critics. Nor has anyone ever documented any vast reserves of wealth earned by Kiyosaki prior to the publication of Rich Dad Poor Dad in 1997. No one has ever proven that "Rich Dad", the man who supposedly gave Kiyosaki all his advice for wealthy living, ever existed. The titular "rich dad" is his friend's father who accumulated wealth due to entrepreneurship and savvy investing, while the "poor dad" is claimed to be Kiyosaki's own father who he says worked hard all his life but never obtained financial security. Rich Dad Poor Dad is written in the style of a set of parables, ostensibly based on Kiyosaki's life. It advocates the importance of financial literacy (financial education), financial independence and building wealth through investing in assets, real estate investing, starting and owning businesses, as well as increasing one's financial intelligence (financial IQ). Occasionally the author acknowledges that people who are really poor can't choose to save money but ultimately the book is aimed at the kind of person who's got a secure job, would be perfectly comfortable if they didn't keep trying to keep up with the Joneses, but wants to know how to get rich so they could keep up with the Joneses after all.Rich Dad Poor Dad is a 1997 book written by Robert T. Not that owning your own house is therefore a bad thing, but it's not putting money in your pocket so if your goal is to get rich then buying a bigger one isn't going to forward your goal.īut it's hard to get past the fact that it would have been better titled "Rich Dad, Average-income Dad". Thus, the house you live in is a liability (you pay the mortgage, maintenance, property tax, etc) while the house you rent out is an asset (you gain rent). The point that in practical terms "assets put money in your pocket liabilities take money out of your pocket" seems a very important one. (And much of the book really is repetitive waffle.) There are a few interesting and useful ideas in here, if you can get past all the pull-yourself-up-by-your-bootstraps waffle. His methods are tried-and-true and have helped create more than a few millionaires - by focusing on changing how the readers think and encouraging spending that lets money work for you, Kiyosaki has created a landmark book that challenges conventional middle class thoughts surrounding hard work and saving money.Īs Kiyosaki asserts, “You're either a master of money or a slave to it.” With this book, learn to think like a rich dad and let your money work for you. In this abridged edition of his renowned self-help book, Kiyosaki details the principles of how to get out of the rat-race of living paycheck to paycheck. Taking to heart the message that the poor and middle class work for money but that the rich have money work for them, Kiyosaki lays out his philosophy on income-generating assets always providing healthier bottom-line results. From the founder of Rich Global LLC and the Rich Dad Company, Robert Kiyosaki, comes this tell-all self-help book about wealth, retirement, and financial philosophy.
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