Why are you ok paying a fraud to give you financial advice? Rich Dad Poor Dad Review. Robert T. Kiyoski An American investor, businessman, self-help author, motivational speaker, financial literacy activist, and occasional financial commentator. It is a hardback, on the right. It’s a field I have some knowledge and hard won experience in, and nothing he’s selling is going to make anyone any money. What I”ve noted is the poor and lower middle class view money very different than people in the upper and rich class. I read this book about 11 years ago at 27 years old , had no money, I followed the advice in this book and now have 15 rental properties paid off free and clear, my assets more than cover all my expenses. The poor and middle class acquire liabilities, but they think they are assets.â. It is a life-changing concept. How do you know? The book is really easy to understand and to read, the message Robert gives is good and can help you change your mindset to be more financially independent but please beware of richdad education. Itâs all âinsider trading.â There are forms of insider trading that are illegal, and there are forms of insider trading that are legal. The "Rich Dad Poor Dad Letter" is Robert Kiyosaki's research advisory newsletter, where he gives specific tips on investing well, living richly and retiring comfortably. It was recommended to me by a friend so naturally, I dove in headfirst. Not even! You can lead a horse to water but can't make it drink. With all the complaints about this tiny book, I'm not sure why that is the book that automatically comes up when you search for the book. I really like how peopel who don’t know him can just claim te hstory is made up! Rich Dad Poor Dad is Robert's story of growing up with two dads his real father and the father of his best friend, his "rich dad" and the ways in which both men shaped his thoughts about money and investing. Research it on your own. I do know the local seminars are pure crap. Today we are going to be reviewing a book about business, entrepreneurship, assets and passive income. However, most of the benefit … Rich Dad, Poor Dad gave me a different perspective on personal finance using a story to illustrate his points. A load of Kiyosaki's critics point out that this statement doesn't follow general accounting standards. Instead of getting the book I expected, I received a tiny, hand sized book, with print that is too small and that is, frankly, hard to open all the way in order to read the words near the binder. Advising people to do so is simply stupid. I finally did it. Rich Dad, Poor Dad was a quick personal finance read and, at many points in the book, I was motivated to change my life. My husband eared a degree in Physics from UCLA, and I earned a degree in Computer Science from Cal State LA. Rich Dad, Poor Dad is an absolute juggernaut of a book–it’s been on the bestseller lists for as long as I remember. Prime members enjoy FREE Delivery and exclusive access to music, movies, TV shows, original audio series, and Kindle books. The subtitle of Rich Dad, Poor Dad says it all: "What the Rich Teach Their Kids About Money — That the Poor and Middle Class Do Not!" Agree entirely that the book has some good points. I had read some of this book when I was in my early 20's. You can still see all customer reviews for the product. Book Review: Rich Dad, Poor Dad When I first discovered Rich Dad, Poor Dad, I was well into the last year of my residency. This book conveys a mindset that when you get it, it will revolutionize how you see everyday opportunities and what you can do to change your financial future. Robert Kiyosaki is a risk taker. That’s why today I will presenting the Rich Dad Poor Dad book review. Larry Ludwig was the founder and editor in chief of Investor Junkie. Some inaccurate information such as Charles Schwab dying penniless. I recently finished reading Rich Dad Poor Dad by Robert T. Kiyosaki. How would you feel? Top subscription boxes – right to your door, © 1996-2020, Amazon.com, Inc. or its affiliates. The primary takeaways for me were the fact that you don’t need a university education to be a success, you need to think differently about money, and owning your own business is an excellent thing to do. Honestly, it was on my to-read list for the longest time, but I never got to it until more recently. Contending that the wealthy have learned to make … The performance of the Quantitative mutual fund and hedged quant funduant funds has been relatively poor over the past 3 years. For me about half the book felt fairly useless since I didn’t intend to go into real estate (and he focuses on that heavily, not just on the one chapter but throughout the whole book), and I also am turned off by stories that are purported to be true but you’re not sure if they are (ie, as mentioned the whole ‘rich dad’ scenario). My reaction to Robert’s book was not of enlightenment, or criticism – but I felt more of a confirmation that I’m not crazy for thinking differently from others. What a mess the global monetary system is. Some people love this guy, other's not so much. So the book is utterly useless. The seminars are basically recruitment pitches for more costly seminars. I’m a value investor so I think all technical trading systems are junk anyways. Robert Kiyosaki (Rich Dad Poor Dad) offers personal finance education to help you learn about cash flow, real estate, investing, and business building My husband and I were both like the poor Dad. Wondering if Robert Kiyosaki's The Rich Dad Poor Dad Letter is worth subscribing to and if it's legit? In several places he advises readers to commit criminal acts (fraudulent contracts, insider trading etc.). Rich Dad Poor Dad Review. This type of attitude is infuriating. Look up rich dad poor dad scam and you'll see what I'm talking about. Your recently viewed items and featured recommendations, Select the department you want to search in, A great foundation book for beginning to improve your financial intelligence, Reviewed in the United States on June 19, 2017. The one who makes the money is the one selling the “system”. I was raised by loving parents that unfortunately follow “poor” thinking – i.e. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. The need to work to learn and not to work for money. The aim of the book is to get all of us to think differently, to question the way we live,etc. wasted 3 days of my life and $700.00 just to give them the opportunity to talk about how I need to purchase their $50,000 legacy plan. Rich Dad, Poor Dad should be viewed as a general starting point — a investment/startup summary, rather than a list of specific items to do as an entrepreneur. That is so far-fetched. The title is intriguing, and that's the primary reason so many people chose it to understand what it is about. While rental properties have also gone down in value, if you focus on positive cash flow, you still are bringing in money every month. This page is to review Rich Dad Poor Dad book He also says to buy rental properties, not a big primary residence. I literally had 50 dollars in my account, came up with the money to take his real estate seminar and in 6 months I have purchased 8 properties with a total cash flow of almost 20,000 a month. The book has a motivational aspect as well as financial advice and strategies devised by Kiyosaki. He explains how he and his best friend try to make money using illegal methods and how his friend’s father Mike (also referred to as the Rich Dad… Here are my thoughts of Kiyosaki’s best-selling book. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you. Poor Dad was Kiyosaki’s biological father, a man who was highly intelligent and very well educated. I am in the later camp, and find that this book offers so little concrete information it begs you to buy his other books, which I assume is the point. Rich Dad Poor Dad certainly opened up my eyes and taught me how to stay poor/middle-class or become financially free (rich). Rich … I don’t have any knowledge of or interest in really pouring myself into real estate. How’s that old saying go? Agree 100% the book is PERFECT for a person’s first read during their journey to financial freedom, independence, and education but it is FAR from the end all be all. If so, you are in the right place. But it is the law, and as Martha Stewart can tell you it’s a law worth following. The people being targeted by his seminars are poor – no capital. I used to think swindler, but lately Iâm more on the fence. He’s now selling stock trading scams. Rich Dad Poor Dad focuses on what separates the poor, and the rich. W, the link I mentioned is about real estate. More important is the author filed for bankruptcy in 2012. Robert even states in his book that home values do not always go up. Rich Dad Poor Dad is filled with many wonderful stories that teach real lessons. https://en.wikipedia.org/wiki/Insider_trading. Andy Shuler. Not a weekend seminar. The cash flow game is kinda fun and a knock off of monopoly. Whether it OUGHT to be legal or not is a different question. Wisdom from Rich Dad for Teens is an excerpt only. In some ways, I think he’s saying his way was better than his dads (Poor Dad), so I wonder is in a small sense he’s writing that he was right and his dad was wrong? When the overqualified father dies, he will leave next … Rich Dad Poor Dad – Book Review. The poor dad was highly educated with a Ph.D., while the rich dad didn’t even finish the eighth grade. Thanks to the elimination of protected retirement accounts of days gone by, now most peoples retirement funds are wrapped up in pathetic 401K accounts in the crooked stock market. There is “inside” information that is legal to the eyes of the SEC. I re-read this book yesterday. why wouldn’t you recommend attending his local seminar? He writes in his own book he is a "best selling author not a best writing author". On a weekly basis, I now do things I used to consider risky or could never imagine doing before owning a business. Main Takeaways in Rich Dad, Poor Dad. Reviewed in the United States on July 22, 2017. It is an excellent book for the average American looking to secure their financial future. Rich dad was a real person, google “Richard Kimi” sometime. However, many people have questioned the validity of his financial advice and its applications in the real world. First published in 1997, Rich Dad, Poor Dad was written by Robert Kiyosaki and has sold over 32 million copies globally. I would say I have a ton of education in the rich dad series and I did feel inspired by it. That said, anything worth trading is likely NOT for sale – they’re the property of private trading firms both big and small who have no intention of killing the goose laying golden eggs. The question I have is, very practically, how do I get started investing in something that’s going to yield more than a savings account consistently? Written by Robert Kiyosaki, a formidable author who gives a solution on how you can increase your wealth. go to school to get a degree, then go to work for someone else, followed by going into debt for a house, car, etc., then work until you are too old to enjoy retirement. Iâm not saying do it illegally, but the sooner you know, the better your chances are for profits with minimal risk. Supposedly they even ask you to pay $32K for a personal mentor to teach you the ropes. It’s worth a read. I bet you won’t be able to see this post, but I think that it is possible for what you are saying to be true if you have knowledge of real estate and some juicy, hot contacts. So you can have access to a mentor. I learned the better way to look at assets, liabilities, and money. Please read reviews … The only distinction is how far away from the inside are you? Chapter 1: Rich Dad, Poor Dad. Rich Dad Poor Dad is a book written by Robert T Kiyosaki, that tells you what the rich teach their kids about money – that the poor and middle class do not. Shame he didn’t just say this is the story of My Rich dad, Poor Dad… However, sometimes I think people take what is written in these types of books as pure gospel, and forget that some of these ideas are just theories and one mans way of doing something. Rich Dad Poor Dad is Robert's story of growing up with two dads -- his real father and the father of his best friend, his rich dad -- and the ways in which both men shaped his thoughts about money and investing. It got me to think differently about my business and investing than I had previously. The book does have some far fetched stories which I presume Robert thought would add credence to his theories. And while it is something the rich sometimes do, it’s not a smart thing to emulate. ABCs and Advanced guide to real estate investing and property management are really key to knowing how to invest and how to either manage your property or ensure that your property manager is managing your property properly. Many financial gurus have taught this same principle, but Clason was the first to put it in writing. Are you wondering; should I read Robert Kiyosaki’s book Rich Dad Poor Dad? The information on Investor Junkie could be different from what you find when visiting a third-party website. I honestly think they should be (and easily could be) selling this information for $99 or more, so definitely take advantage of this while the price is so low. Insider trading – I took the excerpt from the book, since it appears you are referencing John T. Reed’s info. Para leer esta publicacion en Español, haga clic “Aqui“ Money has always been something that people aspire to obtain. Most of the other books are simply a rehash of these two books. Kiyosaki’s a loser. In this post, I summarize and review the bestselling book Rich Dad Poor Dad by Robert Kiyosaki. We found what we were looking for in this book.I'm glad we read this as a family. I’m not aware of any he is offering hence my question to you. Why would you spend most of your time writing books, giving seminars, producing weekly multimedia shows if you were making millions wheeling and dealing investments? The cost of education continues to increase much faster than the rate of inflation. A lot has happened financially in the past 20 years, and I'm curious if some of Kyosaki's predictions came true. Robert would later call him his “Rich Dad”, due to his insight and wealth. Even thought I know rich dad is fake I still want to make money work for me something that never entered my mind previous to the rich dad series. Rich Dad, Poor Dad is an easy read that can give you valuable advice on making your money work for you. His advice sounds dangerous and at times, illegal. To this day it remains one of the best books on money you will ever read. As I crept along, I … Essentially, Rich Dad Poor Dad tackles financial mentalities through two perspectives that Robert … A Complete Rich Dad Poor Dad Summary with Chapter Reviews. My understanding is that he made his money when some Amway groups (closed market) began to promote his book to their brainwashed followers. Wise investors buy an investment when itâs not popular. This book ranks up there on my personal finance list, right next to the Richest Man in Babylon. Some of the examples that seem to be his idols are a bit scary too, like Ray Kroc. It also analyzes reviews to verify trustworthiness. I believe his Rich Dad seminars are a scam. The Wikipedia link discusses this in depth. I had never thought that building an asset can put one on his way to become rich. As Kiyosaki mentions, he's not suggesting that people skip higher education; he's suggesting higher education does not assist with “street smarts.” Financial literacy is something that is rarely discussed in school, and if it is discussed, it is only at basic levels. Rich Dad Poor Dad has been successful in helping everyday people establish themselves as entrepreneurs and has given them courage to enter the business world. 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