Rich Dad, Poor Dad

Imran Naseem · 04-12-2009, 01:24 PM

How many of you have read this and after reading this, think differently?

I read this a few months ago and I think its the best thing that has happened to my businesses online.

Mukul Verma · 04-12-2009, 01:25 PM

It is great to read.

Mukul Verma · 04-12-2009, 01:27 PM

I am big into reading, you can see the books I have ready and suggest on the website in my signature.

Desmond Ong · 04-12-2009, 01:32 PM

Rich Dad Poor Dad got me started online. When I was 14, I grabbed this book to read during my school's reading hours. I was shocked by Robert Kiyosaki's learning style. And then I realized that by just studying hard, that won't make me rich.

Limited from many resources, I started to make money online.

Totally a VERY inspiring book. Especially about his comic book idea. ;-)

Hililuud · 04-12-2009, 01:51 PM

yeah I've read all most all his books, the best one is the one he did with TRUMP!

Mukul Verma · 04-12-2009, 01:53 PM

I just read Rich Dads Guide to Investing, excellent book

ToughTurkey · 04-12-2009, 01:56 PM

Isn't his main source of income property? Are his ideas standing up to the current economy?

honestbizpro · 04-12-2009, 01:58 PM

Leverage baby! (He actually had great success with MLM first.)

So many people complain about a 9 to 5 but do nothing about it.

There had been controversy about whether there really was a Rich Dad....those people are missing the point.

Rich dad is a philosophy to live by.

Loved that book.

Mukul Verma · 04-12-2009, 01:58 PM

He investments in many different things, real estate, stocks, education etc....his ideas are more of a balance portfolio.

This book was written 9 years ago and I think it is based in principles and mind set more then then economic times. If you have the right way of thinking you will make money in both good and bad economic times.

jumbopanda · 04-12-2009, 02:00 PM

It's a great book. i highly recommend it. It opened my eyes to many things, and I definitely think different, even to this day. ( I read it like 6 years ago).

Desmond Ong · 04-12-2009, 02:05 PM

Quote:

Originally Posted by honestbizpro

Leverage baby! (He actually had great success with MLM first.)

So many people complain about a 9 to 5 but do nothing about it.

There had been controversy about whether there really was a Rich Dad....those people are missing the point.

Rich dad is a philosophy to live by.

Loved that book.

I personally believe that it doesn't matter if "Rich Dad" exists or not. Robert Kiyosaki does produce an amazing concept.

milan · 04-12-2009, 02:05 PM

The book is very inspiring. I am very glad to have read the book.

However, you should not take everything for granted from that book. There is some bad advice, and errors as well. Keep in mind that author got rich by selling his books on how to get rich - not by investing or doing other business. It's also proven that the "Rich Dad" is a fictional and not real character. It's most probably a combination of a couple of people that have influenced the author, some of them are people he met, some he read their books.

Overall, definitely worth reading. For things like investing, real estate - find another book.

Mukul Verma · 04-12-2009, 02:06 PM

Another great book, best book since Rich Dad, Poor was '4 Hour Work Week', amazing book.

IGotTheNews · 04-12-2009, 02:12 PM

I really think that those types of books are mainly aimed to get you motivated. There are no techniques that really work, in my opinion. I read Rich Dad Poor Dad. I thought it was a good story, but just that. It inspired me to start but it did not teach anything. I think it is best to read how to books. Just an opinion.

xiaophil · 04-12-2009, 02:13 PM

Not sure about inspirational but I have definitely found his books motivational, if perhaps a bit fluffy.

They were worth it just for the motivation but I can't remember any concrete instructions beyond generic advice about wise investment.

The value of these books I think is more about adjusting mindset and attitude.

BTW Does anybody know how he kick-started his wealth?

How did he make money before teaching people how to make money?

Phil

Oracle_320th · 04-12-2009, 02:45 PM

After his first company bankrupted, Robert made money from nothing down investment if I didn't get it wrong. Of course he didn't make seven figures income back then, but it was enough to pay for his family expenses.

Then he set up his first book "If You Want to be Rich and Happy: Don’t Go to School"

It was set up for MLM network. He made an alliance with MLM company, that was the first time he made a hit from Rich Dad Poor Dad

ProductCreator · 04-12-2009, 03:25 PM

Quote:

Originally Posted by xiaophil

BTW Does anybody know how he kick-started his wealth?

How did he make money before teaching people how to make money?

Phil

lol! Reminds me of half of all internet marketers!!!

jamesviago · 04-12-2009, 03:49 PM

bought his books, bought his games.
read and played, read and played.
finally understood (it takes a while to get the "ah-hah").

played for real, made $670k profit (after tax and all expenses).

yeah, i'm a big fan.

an author with a similar strategy and also useful to get the "ah-hah" moment: Dolf de Roos.

Before RDPD Kiyosaki wrote "If you want to be rich and happy, don't go to school?" it's a book about how the education system teaches you nothing about how to be rich or happy.

all the books are repetitive and difficult to read.
but i am happy that the ideas work.

Hililuud · 04-12-2009, 04:08 PM

Quote:

Originally Posted by ToughTurkey

Isn't his main source of income property? Are his ideas standing up to the current economy?

I may be wrong, but I thought it was the goldmine company he has in asia?

honestbizpro · 04-12-2009, 04:08 PM

Quote:

Originally Posted by jamesviago

bought his books, bought his games.
read and played, read and played.
finally understood (it takes a while to get the "ah-hah").

played for real, made $670k profit (after tax and all expenses).

yeah, i'm a big fan.

an author with a similar strategy and also useful to get the "ah-hah" moment: Dolf de Roos.

Before RDPD Kiyosaki wrote "If you want to be rich and happy, don't go to school?" it's a book about how the education system teaches you nothing about how to be rich or happy.

all the books are repetitive and difficult to read.
but i am happy that the ideas work.

lol, that is so true...it's almost like he made several books out of chapters!

But hey....if you have your marketing eyes on...you learn from that as well!

Hililuud · 04-12-2009, 04:11 PM

Quote:

Originally Posted by jamesviago

Before RDPD Kiyosaki wrote "If you want to be rich and happy, don't go to school?" it's a book about how the education system teaches you nothing about how to be rich or happy.

all the books are repetitive and difficult to read.

Not to sure that they are all that diffulcult to read, however im glad they work also.

As far as the don't go to school thing, he withdraws that statement in some of his later books by advising to go to school for accounting and marketing.

His first book is not famous because he tried to re-invent the wheel to much

yellowboy · 04-12-2009, 04:33 PM

Awesome Book!

I've read it one year ago and it got me started. Amazing how this book can get you pumped up, great ideas and very powerful strategies.

We shouldn't be thinking "oh I can't afford that car/house'

We should be thinking "how can I afford it". What kind of action do I have to take.

I loved that one.

Another great quote: If you wanna get your prayers answered, get off you knees and hustle!

This book got me started so I got a lot of respect for it. It's not perfect, and you need further information to really get things going. (e.g. Think and Grow Rich)

But it's the best book to really get you started and change your 9-5 thinking.

Highly recommended.

mario

Mark Riddle · 04-12-2009, 05:40 PM

I had the pleasure of meeting Robert and Kim prior to the launch of RDPD, His Best Friend "Mike" and his dad, wasn't named Mike, nor was it his next door neighbor, That's why the nay sayers claim he doesn't exsist.

Robert had gone through the boom and bust cycle for the third time when the RDPD book was released he was still hurting from a sour investment offshore.

His wife Kim is the real estate buff of the family.

Velcro wallets runner wallets was his first million dollar product, but was short lived because it was easy to copy. (and the Ad he promoted to the trade didn't have a phone number or address in it)

Sharon Lechter is the one who created the cash quadrant philosophy, and its the basis of her financial empowerment for women and family's courses.

Robert is the promoter of the group, so if you had your choice of spending the day with Robert, Kim, or Sharon, I would pick Kim.

There is more business sense in a 15 min talk with Kim than you will find in a MBA.

Kim understand the why behind the what.

Rich Dad, Poor Dad is an excellent introduction to the philosophy that the Haves are taught from an early age.

For example when poor folks get their picture taken, they all smile and say CHEESE.

When Rich folk get their picture taken, they all smile and say MONEY.

Mark Riddle

shane_k · 04-12-2009, 05:45 PM

Quote:

Originally Posted by ToughTurkey

Isn't his main source of income property? Are his ideas standing up to the current economy?

Yes his ideas are standing up to the current economy.

It is the difference between buying for apprecation (when the value goes up) versus buying for the cashflow a property produces.

Most people buy property for the appreciation value. Robert does not. He buys for the cashflow (i.e. Rent).

The easiest way to tell it is standing up to the current economy is to look at the price of rent. The value of a house might fluctuate up and down but the rent coming from the property is pretty darn stable.

Let's say that you live in a 60 unit Apartment building and you were a tenant in that building. And let's say that your monthly rent is $1,000 a month.

Now, It wouldn't matter if the value of that 60 unit Apartment Building dropped from $1,000,000 down to $850,000 you would still pay the same in rent each month.

So even though the value has dropped the cashflow that Robert gets still stays the same.

And not only that, but when you really think about it, "crash" is just another term for "sale"

Shane_K

shane_k · 04-12-2009, 05:55 PM

Quote:

Originally Posted by xiaophil

Not sure about inspirational but I have definitely found his books motivational, if perhaps a bit fluffy.

They were worth it just for the motivation but I can't remember any concrete instructions beyond generic advice about wise investment.

The value of these books I think is more about adjusting mindset and attitude.

BTW Does anybody know how he kick-started his wealth?

How did he make money before teaching people how to make money?

Phil

Umm Real Estate. He looked for Investment properties that produced a positive cashflow, and just kept adding more and more of those positive cashflow producing properties reinvesting each time to grow more and more wealthy.

A lot of people don't believe that because it is not a "sexy" way to become rich. His story is not amazing. He just kept reinvesting the money he made. It is a simple, straightforward plan.

He also owned a business that used to sell those velco wallets that were the rage in the late 80's early 90's, and he also used to have a licensing business that dealt with rock bands like Aerosmith, and GnR.

Then he and his current wife built the Rich Dad company to begin teaching others how to become wealthy.

Being a best selling author is not how he became wealthy. He was already wealthy before that.

Being a best selling author definately accelerated his wealth though.

mediamogul · 04-12-2009, 05:56 PM

RDPD is a life changing book for me. I have worked entirely for myself for the past 8 years. As noted above it is extremely timely today with companies folding left and right. Do something you love doing and the $$ will be there eventually.

Dmitry · 04-12-2009, 06:18 PM

Quote:

Originally Posted by milan

The book is very inspiring. I am very glad to have read the book.

However, you should not take everything for granted from that book. There is some bad advice, and errors as well. Keep in mind that author got rich by selling his books on how to get rich - not by investing or doing other business. It's also proven that the "Rich Dad" is a fictional and not real character. It's most probably a combination of a couple of people that have influenced the author, some of them are people he met, some he read their books.

Overall, definitely worth reading. For things like investing, real estate - find another book.

I was actually wondering if someone would bring this up... Just like many "teachers" he made his money by selling the very stuff he wanted but didn't have.

He seems to be quite these days - probably made enough from teaching theory and finally started practicing it.

A lot of the Internet marketing "gurus" are the same way - the reason they sell their time teaching isn't because they are all so nice and want to help, it's because they don't know anything else. Some of them discover the "real thing" and they disappear. Unfortunately very few realize this.

As for his books - they've been amazingly inspirational for me!

I read RDPD when I was about 14-15 and it had definitely made a great impact on me.

LordXenu · 04-12-2009, 06:25 PM

I've heard alot about the book, but I never got around to readingit. i might have to check it out.

dndoseller · 04-12-2009, 06:36 PM

That book is what made me resolve to starting an online business, so it made all the difference.

Adaptive · 04-12-2009, 06:40 PM

Quote:

They were worth it just for the motivation but I can't remember any concrete instructions beyond generic advice about wise investment.

The value of these books I think is more about adjusting mindset and attitude.

Phil, I agree with you 100% on this one.

If people are stuck in a "get a good job and you'll be taken care of" mentality, the Rich Dad series is a great way to get out of that mental rut.

Unfortunately, once you're out of the quicksand, you're pretty much on your own to then find a way out of the jungle.

In some of the Rich Dad series, I don't remember now if it's the original book, Kiyosaki refers to his initial success in his own business. He described this as being the original company popularizing nylon and Velcro wallets, originally made for surfers. He also refers to poor management, arrogance, and lack of intellectual property protection bringing down that initial company. He says this forced him to admit he had more to learn about business, especially about teamwork.

Regards,
Allen

healymedia · 04-12-2009, 06:48 PM

John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad

If you want to read books to get inspired or motivated, fine, rad RDPD. If you want to learn about business, don't.

It's an interesting read but its riddled with bad advice, fiction and factual errors.

The fact of the matter is, as his been mentioned, Kiyosaki made his money by teaching people about how he made his money. The guys credibility is thin.

Those books are nice if you're looking for motivational stories. If you want more than motivation though, you'd be far better reading this board and learning from people with real experience in building wealth for themselves, rather than reading the fiction and b.s. in RDPD.

kevin campbelle · 04-12-2009, 06:55 PM

This was the book that made me require more for my life. I was stuck in the job mentality and after reading this book I knew there was more to life than the normal day job. There may not have been concrete instructions but this book opened my mind to the other possibilities out there.

This book started me on the path of my IM journey. So for me it was the one of the most important books that I've ever read.

Kevin.

Melford Bibens · 04-12-2009, 06:56 PM

I don't want to sound cheesy, but this book changed my life!

It truly changed the way I think about success and the dedication I have to acheive everything I want in life!

Another great read that been around since the '20's-"Think and grow Rich"

These two books made me the businessman I am today.

Kyle Tully · 04-12-2009, 07:08 PM

Reading the RDPD book, and then going to see Robert speak live in Sydney were two of the driving forces behind me REALLY getting my butt in gear and starting my own business.

If you can get your hands on the cash flow computer game thing he has -- DO IT... it will help you understand the power of assets and change the way you think about money. And let your kids play it, it's the kind of stuff they should be teaching in schools.

healymedia · 04-12-2009, 07:11 PM

Anyone who thinks that they should be learning about finance from Robert Kiyosaki needs, NEEDS, to read that page I linked to above.

Again, very important -> RDPD: good for motivation or inspiration, BAD for learning about actual business. The book is full of factual errors and poor information.

Read it to get your butt going fine, but once you're going, throw it away and learn from a credible source.

Justin Jordan · 04-12-2009, 07:14 PM

"He seems to be quite these days - probably made enough from teaching theory and finally started practicing it."

He's got four book Rich Dad label books coming out in 09, two of them written by him (or at least with him as author) and two last year. So not really quiet, by any means.

Kyle Tully · 04-12-2009, 07:24 PM

Quote:

Originally Posted by healymedia

Anyone who thinks that they should be learning about finance from Robert Kiyosaki needs, NEEDS, to read that page I linked to above.

Again, very important -> RDPD: good for motivation or inspiration, BAD for learning about actual business. The book is full of factual errors and poor information.

Read it to get your butt going fine, but once you're going, throw it away and learn from a credible source.

I have never thought of him as a "finance" guy... he's always been an inspiration and motivation guy for me.

And frankly, THAT is what most people really need. Which is why he has been so successful.

Stallion · 04-12-2009, 07:37 PM

The book doesn't have a lot of substance to it, but the philosophy it teaches is great. It helps you think of a business in a totally different light.

healymedia · 04-12-2009, 07:39 PM

The problem with Kiyosaki is he goes beyond pure motivation and offers up advice on strategies of how to build wealth. Strategies that are often ill-informed, dangerous, or in some cases even illegal.

Personally I have no love for the man and I never finished Rich Dad Poor Dad in it's entirety because I couldn't get past the fact that he was spewing so much garbage. I got about 60-70% of the way in and just stuck it away somewhere.

As long as people can separate the motivational aspects of the books from the business advice, they should be fine. A lot of people may confuse the two though, and some of the advice given in those books has the potential to cause serious trouble.

Personally, I'd rather just read something by someone credible that doesn't exaggerate and falsify things in a book that exists in a non-fiction genre.

As for the Rich Dad Advisor series, I can't comment. Being that they're written by other authors, they could very well be full of excellent advice.

honestbizpro · 04-12-2009, 07:44 PM

It's pretty easy to take a few shots at almost anything, but if the book helps 1 person realize that a corporation does not give a damn about you working all your life for retirement and will downsize you in a heartbeat...then it's totally worth it.

marketguru · 04-12-2009, 08:13 PM

i was in two minds whether to buy this book, i think i may have been swayed

healymedia · 04-12-2009, 08:15 PM

Quote:

Originally Posted by bigmomma1967

"The poor and middle class work for money. The rich have money work for them." It was on (P30). This is done via building your own system to run a business, or assets, so that money comes in whether your there or not.

and building those systems, that business, and those assets isn't work?

It's DAMN hard work.

The poor and the rich both work for their money. The rich just do it differently. Not to mention the vast majority of millionaires work daily.

I prefer the quote "Work smarter, not harder".

Most of the good advice in Rich Dad Poor Dad is readily available (and has been for a long time) from other such sources.

The book is in absolutely no way groundbreaking or visionary. It's simply one of many books with motivational value for people wanting to get into business for themselves.

JamesCallowag · 04-12-2009, 08:22 PM

Hi, Ive read Robert kiyosaki's Rich dad Poor Dad. I agree its a great read. One of the main things that I learned from it was that everyone has their own genius inside.

In school if you got bad grades you grew up with an inferiority complex about being intelligent. But clearly, school is not the same as education.

You can still learn and improve your financial education, and even if you start right now from scratch, you can become a wealthy person in a few years.

Of course you need to buy assets that are producing income for you, watch your liablities, and talk to smart people about taxes.

Randy Bheites · 04-12-2009, 09:09 PM

I read two of Kiyosaki's books, Rich Dad and the Quadrants book. Here's what everything he says boils down to:

Assets are anything that puts money in your pocket.

Liabilites are anything that take money out of your pocket.

Acquire assets.

---
That's how to get rich, in a nutshell.

Andyhenry · 04-12-2009, 10:13 PM

Quote:

Originally Posted by Adaptive

In some of the Rich Dad series, I don't remember now if it's the original book, Kiyosaki refers to his initial success in his own business.

It won't have been the first one because he never was successful in business - he made his money selling this RDPD work of fiction.

It's a great read if you have friends who think working for other people is the way to personal success, but many people forget (or don't know) that it's completely made up and not actual good advice or factual.

I love things that open peoples minds to thinking differently and as some people have stated - this book made them think differently so I'm not going to knock it - but it's worth remembering that this was not a book sharing experience of how to become rich and successful - the author was only successful by selling this book.

It's your classic cliche of someone getting rich telling others how to do it.

cmbwealth · 04-12-2009, 10:59 PM

I think one of the things are not remembering about the books is that he really doesn't set out to tell you how to run your business. He talks about changing your mindset then talking to experts for your business.

He is a big believer in having a team around you. I saw an interview of him on NBC awhile ago and they discussed changing how you think and how to find good people (lawyers, CPAs, bookkeepers, real estate agents, etc)and then learning about your chosen business, and looking for a successful mentor in your area and your field.

Really similar to what Trump says in his books. Does anyone say Trump isn't successful, no, because he branded all of his buildings with his name, so we know what he owns.

I wonder how much different people would look at Kyosaki if he had a hit tv show

Stevecyr · 04-12-2009, 11:20 PM

Ive lamost read all his books and this was the best of the whole lot. The main moral was that everyone has their own genius inside. Wat say members?

jasonl70 · 04-12-2009, 11:32 PM

I read this way back when it first came out.. having a background investing in options, futures, etc, I immediately found his stories/advice regarding options to be questionable (I'm being nice).

This made me question the validity and truthfulness of the rest of his stories, so I started researching the guy. Turns out more then reporter had researched his claims and found most of them to be false. I think they found 1 apartment building that he had owned, and that the guy was pretty much broke when he wrote RD/PD..

As others have said - great for motivation/inspiration, but beyond that??

jasonl70 · 04-12-2009, 11:41 PM

Quote:

Originally Posted by cmbwealth

I think one of the things are not remembering about the books is that he really doesn't set out to tell you how to run your business. He talks about changing your mindset then talking to experts for your business.

He is a big believer in having a team around you. I saw an interview of him on NBC awhile ago and they discussed changing how you think and how to find good people (lawyers, CPAs, bookkeepers, real estate agents, etc)and then learning about your chosen business, and looking for a successful mentor in your area and your field.

Really similar to what Trump says in his books. Does anyone say Trump isn't successful, no, because he branded all of his buildings with his name, so we know what he owns.

I wonder how much different people would look at Kyosaki if he had a hit tv show

trump was incredibly wealthy and famous way before his tv show.. heck, the Donald was my idol back in the 80's when I was in HS. He did not make his money as a 'make money' guru.

People's real estate holdings are public record.. and the public record did not support Kyosaki's claims back when his book came out. The public record on Donald Trump is in an entirely different stratoshpere.

swiminsoda · 04-12-2009, 11:52 PM

I read the book in 2004 and I have palyed the game a few times. This book is really a good and easy read for beginners, especially those who are looking beyond the active income gained from a salary or employment.

One fundamental thing I learnt was the concept and idea of earning passive income. In this time and age, leveraging of time and money is key to achieving life's independance.

04-12-2009, 01:24 PM	#1
Imran Naseem Just A Nice Guy :) War Room Member Join Date: May 2007 Location: UK, Manchester Posts: 3,752 Blog Entries: 2 Thanks: 879 Thanked 363 Times in 170 Posts Social Networking	Rich Dad, Poor Dad - Inspiring? How many of you have read this and after reading this, think differently? I read this a few months ago and I think its the best thing that has happened to my businesses online.
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04-12-2009, 01:25 PM	#2
Mukul Verma Hangin out at WF is Work War Room Member Join Date: Apr 2009 Location: Toronto, Canada Posts: 624 Blog Entries: 1 Thanks: 33 Thanked 46 Times in 41 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? It is great to read.
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04-12-2009, 01:27 PM	#3
Mukul Verma Hangin out at WF is Work War Room Member Join Date: Apr 2009 Location: Toronto, Canada Posts: 624 Blog Entries: 1 Thanks: 33 Thanked 46 Times in 41 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? I am big into reading, you can see the books I have ready and suggest on the website in my signature.
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04-12-2009, 01:32 PM	#4
Desmond Ong Caffeinated Warrior War Room Member Join Date: Nov 2008 Location: Kuala Lumpur Posts: 570 Thanks: 63 Thanked 41 Times in 28 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? Rich Dad Poor Dad got me started online. When I was 14, I grabbed this book to read during my school's reading hours. I was shocked by Robert Kiyosaki's learning style. And then I realized that by just studying hard, that won't make me rich. Limited from many resources, I started to make money online. Totally a VERY inspiring book. Especially about his comic book idea. ;-)
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04-12-2009, 01:51 PM	#5
Hililuud HyperActive Warrior Join Date: Mar 2009 Posts: 178 Thanks: 17 Thanked 2 Times in 2 Posts Social Networking	Re: Rich Dad, Poor Dad - Inspiring? yeah I've read all most all his books, the best one is the one he did with TRUMP!
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04-12-2009, 01:53 PM	#6
Mukul Verma Hangin out at WF is Work War Room Member Join Date: Apr 2009 Location: Toronto, Canada Posts: 624 Blog Entries: 1 Thanks: 33 Thanked 46 Times in 41 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? I just read Rich Dads Guide to Investing, excellent book
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04-12-2009, 01:56 PM	#7
ToughTurkey Active Warrior Join Date: Mar 2009 Posts: 35 Thanks: 3 Thanked 2 Times in 2 Posts	Re: Rich Dad, Poor Dad - Inspiring? Isn't his main source of income property? Are his ideas standing up to the current economy?
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04-12-2009, 01:58 PM	#8
honestbizpro Senior Warrior Member War Room Member Join Date: Mar 2007 Location: , , . Posts: 2,212 Thanks: 95 Thanked 237 Times in 152 Posts	Re: Rich Dad, Poor Dad - Inspiring? Leverage baby! (He actually had great success with MLM first.) So many people complain about a 9 to 5 but do nothing about it. There had been controversy about whether there really was a Rich Dad....those people are missing the point. Rich dad is a philosophy to live by. Loved that book.
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04-12-2009, 02:00 PM	#10
jumbopanda Warrior Member Join Date: Mar 2009 Posts: 29 Thanks: 0 Thanked 2 Times in 2 Posts	Re: Rich Dad, Poor Dad - Inspiring? It's a great book. i highly recommend it. It opened my eyes to many things, and I definitely think different, even to this day. ( I read it like 6 years ago).
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04-12-2009, 02:05 PM	#12
milan An Old Hippie War Room Member Join Date: Mar 2007 Location: All Over Europe Posts: 1,445 Thanks: 85 Thanked 82 Times in 53 Posts Contact Info	Re: Rich Dad, Poor Dad - Inspiring? The book is very inspiring. I am very glad to have read the book. However, you should not take everything for granted from that book. There is some bad advice, and errors as well. Keep in mind that author got rich by selling his books on how to get rich - not by investing or doing other business. It's also proven that the "Rich Dad" is a fictional and not real character. It's most probably a combination of a couple of people that have influenced the author, some of them are people he met, some he read their books. Overall, definitely worth reading. For things like investing, real estate - find another book.
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04-12-2009, 02:06 PM	#13
Mukul Verma Hangin out at WF is Work War Room Member Join Date: Apr 2009 Location: Toronto, Canada Posts: 624 Blog Entries: 1 Thanks: 33 Thanked 46 Times in 41 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? Another great book, best book since Rich Dad, Poor was '4 Hour Work Week', amazing book.
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04-12-2009, 02:12 PM	#14
IGotTheNews American Article Writer War Room Member Join Date: Apr 2009 Location: Wroclaw, Poland Posts: 50 Thanks: 9 Thanked 1 Time in 1 Post Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? I really think that those types of books are mainly aimed to get you motivated. There are no techniques that really work, in my opinion. I read Rich Dad Poor Dad. I thought it was a good story, but just that. It inspired me to start but it did not teach anything. I think it is best to read how to books. Just an opinion.
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04-12-2009, 02:13 PM	#15
xiaophil HyperActive Warrior War Room Member Join Date: Apr 2006 Location: Far East Posts: 191 Thanks: 44 Thanked 52 Times in 33 Posts	Re: Rich Dad, Poor Dad - Inspiring? Not sure about inspirational but I have definitely found his books motivational, if perhaps a bit fluffy. They were worth it just for the motivation but I can't remember any concrete instructions beyond generic advice about wise investment. The value of these books I think is more about adjusting mindset and attitude. BTW Does anybody know how he kick-started his wealth? How did he make money before teaching people how to make money? Phil

04-12-2009, 02:45 PM	#16
Oracle_320th HyperActive Warrior War Room Member Join Date: Feb 2005 Location: , , . Posts: 236 Blog Entries: 18 Thanks: 0 Thanked 24 Times in 8 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? After his first company bankrupted, Robert made money from nothing down investment if I didn't get it wrong. Of course he didn't make seven figures income back then, but it was enough to pay for his family expenses. Then he set up his first book "If You Want to be Rich and Happy: Don’t Go to School" It was set up for MLM network. He made an alliance with MLM company, that was the first time he made a hit from Rich Dad Poor Dad
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04-12-2009, 03:49 PM	#18
jamesviago Active Warrior War Room Member Join Date: Nov 2008 Location: Hamilton, New Zealand Posts: 89 Blog Entries: 4 Thanks: 10 Thanked 10 Times in 8 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? bought his books, bought his games. read and played, read and played. finally understood (it takes a while to get the "ah-hah"). played for real, made $670k profit (after tax and all expenses). yeah, i'm a big fan. an author with a similar strategy and also useful to get the "ah-hah" moment: Dolf de Roos. Before RDPD Kiyosaki wrote "If you want to be rich and happy, don't go to school?" it's a book about how the education system teaches you nothing about how to be rich or happy. all the books are repetitive and difficult to read. but i am happy that the ideas work.
	Happily married, father of two. Semi-retired and loving it. New business hobby: internet marketing! More about jamesviago: www.jamesviago.co.nz Business Productivity: www.geninqforum.com Core business: www.viago.co.nz

04-12-2009, 04:33 PM	#22
yellowboy Mario Brown War Room Member Join Date: Jan 2009 Location: South Beach, Miami Posts: 402 Thanks: 43 Thanked 167 Times in 26 Posts Contact Info	Re: Rich Dad, Poor Dad - Inspiring? Awesome Book! I've read it one year ago and it got me started. Amazing how this book can get you pumped up, great ideas and very powerful strategies. We shouldn't be thinking "oh I can't afford that car/house' We should be thinking "how can I afford it". What kind of action do I have to take. I loved that one. Another great quote: If you wanna get your prayers answered, get off you knees and hustle! This book got me started so I got a lot of respect for it. It's not perfect, and you need further information to really get things going. (e.g. Think and Grow Rich) But it's the best book to really get you started and change your 9-5 thinking. Highly recommended. mario
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04-12-2009, 05:40 PM	#23
Mark Riddle Breakthrough Expert War Room Member Join Date: Aug 2002 Location: Kansas City Metro, MO , USA. Posts: 998 Thanks: 117 Thanked 119 Times in 81 Posts Social Networking	Re: Rich Dad, Poor Dad - Inspiring? I had the pleasure of meeting Robert and Kim prior to the launch of RDPD, His Best Friend "Mike" and his dad, wasn't named Mike, nor was it his next door neighbor, That's why the nay sayers claim he doesn't exsist. Robert had gone through the boom and bust cycle for the third time when the RDPD book was released he was still hurting from a sour investment offshore. His wife Kim is the real estate buff of the family. Velcro wallets runner wallets was his first million dollar product, but was short lived because it was easy to copy. (and the Ad he promoted to the trade didn't have a phone number or address in it) Sharon Lechter is the one who created the cash quadrant philosophy, and its the basis of her financial empowerment for women and family's courses. Robert is the promoter of the group, so if you had your choice of spending the day with Robert, Kim, or Sharon, I would pick Kim. There is more business sense in a 15 min talk with Kim than you will find in a MBA. Kim understand the why behind the what. Rich Dad, Poor Dad is an excellent introduction to the philosophy that the Haves are taught from an early age. For example when poor folks get their picture taken, they all smile and say CHEESE. When Rich folk get their picture taken, they all smile and say MONEY. Mark Riddle
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04-12-2009, 05:56 PM	#26
mediamogul The Filmmaking Guy War Room Member Join Date: Feb 2009 Location: Los Angeles Posts: 203 Thanks: 38 Thanked 21 Times in 18 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? RDPD is a life changing book for me. I have worked entirely for myself for the past 8 years. As noted above it is extremely timely today with companies folding left and right. Do something you love doing and the $$ will be there eventually.
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04-12-2009, 06:25 PM	#28
LordXenu Active Warrior Join Date: Apr 2009 Posts: 66 Thanks: 1 Thanked 3 Times in 3 Posts	Re: Rich Dad, Poor Dad - Inspiring? I've heard alot about the book, but I never got around to readingit. i might have to check it out.

04-12-2009, 06:36 PM	#29
dndoseller DanoSongs.com Webmaster War Room Member Join Date: Feb 2008 Location: New York, NY Posts: 373 Thanks: 4 Thanked 40 Times in 33 Posts	Re: Rich Dad, Poor Dad - Inspiring? That book is what made me resolve to starting an online business, so it made all the difference.
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04-12-2009, 06:48 PM	#31
healymedia HyperActive Warrior War Room Member Join Date: Mar 2009 Location: Mississauga, Ontario Posts: 283 Thanks: 55 Thanked 56 Times in 37 Posts	Re: Rich Dad, Poor Dad - Inspiring? John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad If you want to read books to get inspired or motivated, fine, rad RDPD. If you want to learn about business, don't. It's an interesting read but its riddled with bad advice, fiction and factual errors. The fact of the matter is, as his been mentioned, Kiyosaki made his money by teaching people about how he made his money. The guys credibility is thin. Those books are nice if you're looking for motivational stories. If you want more than motivation though, you'd be far better reading this board and learning from people with real experience in building wealth for themselves, rather than reading the fiction and b.s. in RDPD.
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04-12-2009, 06:55 PM	#32
kevin campbelle HyperActive Warrior War Room Member Join Date: May 2005 Location: T&T Posts: 270 Thanks: 130 Thanked 11 Times in 8 Posts	Re: Rich Dad, Poor Dad - Inspiring? This was the book that made me require more for my life. I was stuck in the job mentality and after reading this book I knew there was more to life than the normal day job. There may not have been concrete instructions but this book opened my mind to the other possibilities out there. This book started me on the path of my IM journey. So for me it was the one of the most important books that I've ever read. Kevin.

04-12-2009, 06:56 PM	#33
Melford Bibens HyperActive Warrior Join Date: Feb 2009 Location: Sarasota FL... A.K.A. Paradise Posts: 133 Thanks: 1 Thanked 6 Times in 6 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? I don't want to sound cheesy, but this book changed my life! It truly changed the way I think about success and the dedication I have to acheive everything I want in life! Another great read that been around since the '20's-"Think and grow Rich" These two books made me the businessman I am today.
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04-12-2009, 07:08 PM	#34
Kyle Tully ConsultingTycoon.com War Room Member Join Date: Apr 2007 Location: Vaucluse, Australia. Posts: 2,353 Thanks: 96 Thanked 256 Times in 125 Posts Social Networking Contact Info	Re: Rich Dad, Poor Dad - Inspiring? Reading the RDPD book, and then going to see Robert speak live in Sydney were two of the driving forces behind me REALLY getting my butt in gear and starting my own business. If you can get your hands on the cash flow computer game thing he has -- DO IT... it will help you understand the power of assets and change the way you think about money. And let your kids play it, it's the kind of stuff they should be teaching in schools.
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04-12-2009, 07:11 PM	#35
healymedia HyperActive Warrior War Room Member Join Date: Mar 2009 Location: Mississauga, Ontario Posts: 283 Thanks: 55 Thanked 56 Times in 37 Posts	Re: Rich Dad, Poor Dad - Inspiring? Anyone who thinks that they should be learning about finance from Robert Kiyosaki needs, NEEDS, to read that page I linked to above. Again, very important -> RDPD: good for motivation or inspiration, BAD for learning about actual business. The book is full of factual errors and poor information. Read it to get your butt going fine, but once you're going, throw it away and learn from a credible source.
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04-12-2009, 07:14 PM	#36
Justin Jordan Advanced Warrior War Room Member Join Date: Oct 2007 Location: The wilds of Pennsylvania Posts: 538 Blog Entries: 3 Thanks: 19 Thanked 18 Times in 13 Posts	Re: Rich Dad, Poor Dad - Inspiring? "He seems to be quite these days - probably made enough from teaching theory and finally started practicing it." He's got four book Rich Dad label books coming out in 09, two of them written by him (or at least with him as author) and two last year. So not really quiet, by any means.
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04-12-2009, 07:37 PM	#38
Stallion HyperActive Warrior War Room Member Join Date: Mar 2008 Location: , , . Posts: 257 Thanks: 104 Thanked 18 Times in 12 Posts	Re: Rich Dad, Poor Dad - Inspiring? The book doesn't have a lot of substance to it, but the philosophy it teaches is great. It helps you think of a business in a totally different light.

04-12-2009, 07:39 PM	#39
healymedia HyperActive Warrior War Room Member Join Date: Mar 2009 Location: Mississauga, Ontario Posts: 283 Thanks: 55 Thanked 56 Times in 37 Posts	Re: Rich Dad, Poor Dad - Inspiring? The problem with Kiyosaki is he goes beyond pure motivation and offers up advice on strategies of how to build wealth. Strategies that are often ill-informed, dangerous, or in some cases even illegal. Personally I have no love for the man and I never finished Rich Dad Poor Dad in it's entirety because I couldn't get past the fact that he was spewing so much garbage. I got about 60-70% of the way in and just stuck it away somewhere. As long as people can separate the motivational aspects of the books from the business advice, they should be fine. A lot of people may confuse the two though, and some of the advice given in those books has the potential to cause serious trouble. Personally, I'd rather just read something by someone credible that doesn't exaggerate and falsify things in a book that exists in a non-fiction genre. As for the Rich Dad Advisor series, I can't comment. Being that they're written by other authors, they could very well be full of excellent advice.
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04-12-2009, 07:44 PM	#40
honestbizpro Senior Warrior Member War Room Member Join Date: Mar 2007 Location: , , . Posts: 2,212 Thanks: 95 Thanked 237 Times in 152 Posts	Re: Rich Dad, Poor Dad - Inspiring? It's pretty easy to take a few shots at almost anything, but if the book helps 1 person realize that a corporation does not give a damn about you working all your life for retirement and will downsize you in a heartbeat...then it's totally worth it.
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04-12-2009, 08:13 PM	#41
marketguru Warrior Member Join Date: Apr 2009 Posts: 18 Thanks: 0 Thanked 0 Times in 0 Posts	Re: Rich Dad, Poor Dad - Inspiring? i was in two minds whether to buy this book, i think i may have been swayed

04-12-2009, 08:22 PM	#43
JamesCallowag Warrior Member Join Date: Apr 2009 Posts: 5 Thanks: 0 Thanked 0 Times in 0 Posts	Re: Rich Dad, Poor Dad - Inspiring? Hi, Ive read Robert kiyosaki's Rich dad Poor Dad. I agree its a great read. One of the main things that I learned from it was that everyone has their own genius inside. In school if you got bad grades you grew up with an inferiority complex about being intelligent. But clearly, school is not the same as education. You can still learn and improve your financial education, and even if you start right now from scratch, you can become a wealthy person in a few years. Of course you need to buy assets that are producing income for you, watch your liablities, and talk to smart people about taxes.
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04-12-2009, 09:09 PM	#44
Randy Bheites Post-Modern Retro NOW! Join Date: Mar 2009 Location: Fort Lauderdale, FL Posts: 195 Thanks: 8 Thanked 42 Times in 29 Posts	Re: Rich Dad, Poor Dad - Inspiring? I read two of Kiyosaki's books, Rich Dad and the Quadrants book. Here's what everything he says boils down to: Assets are anything that puts money in your pocket. Liabilites are anything that take money out of your pocket. Acquire assets. --- That's how to get rich, in a nutshell.

04-12-2009, 10:59 PM	#46
cmbwealth HyperActive Warrior Join Date: Mar 2009 Location: Manitoba, Canada Posts: 129 Blog Entries: 1 Thanks: 28 Thanked 20 Times in 16 Posts	Re: Rich Dad, Poor Dad - Inspiring? I think one of the things are not remembering about the books is that he really doesn't set out to tell you how to run your business. He talks about changing your mindset then talking to experts for your business. He is a big believer in having a team around you. I saw an interview of him on NBC awhile ago and they discussed changing how you think and how to find good people (lawyers, CPAs, bookkeepers, real estate agents, etc)and then learning about your chosen business, and looking for a successful mentor in your area and your field. Really similar to what Trump says in his books. Does anyone say Trump isn't successful, no, because he branded all of his buildings with his name, so we know what he owns. I wonder how much different people would look at Kyosaki if he had a hit tv show
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04-12-2009, 11:20 PM	#47
Stevecyr HyperActive Warrior Join Date: Apr 2009 Posts: 110 Thanks: 0 Thanked 3 Times in 3 Posts	Re: Rich Dad, Poor Dad - Inspiring? Ive lamost read all his books and this was the best of the whole lot. The main moral was that everyone has their own genius inside. Wat say members?

04-12-2009, 11:32 PM	#48
jasonl70 Software Developer War Room Member Join Date: Feb 2007 Location: Columbus, Ohio , USA. Posts: 1,959 Thanks: 350 Thanked 304 Times in 185 Posts	Re: Rich Dad, Poor Dad - Inspiring? I read this way back when it first came out.. having a background investing in options, futures, etc, I immediately found his stories/advice regarding options to be questionable (I'm being nice). This made me question the validity and truthfulness of the rest of his stories, so I started researching the guy. Turns out more then reporter had researched his claims and found most of them to be false. I think they found 1 apartment building that he had owned, and that the guy was pretty much broke when he wrote RD/PD.. As others have said - great for motivation/inspiration, but beyond that??
	-Jason