Have you read "rich dad poor dad"? What Did You Learn From It?

by Ernie Lo

Posted: 14 years ago 24 replies

PERSONAL DEVELOPMENT

I just bought a ebook copy of rich dad poor day from some unknown site for $3.95 lol...lucky I got the copy

Anyway I'm sure many of you have read it, did you get much out of it? How did it change your life in any big way? If so, please explain.

#learn #read #rich dad poor dad

Andrew O 14 years ago

Yes, I read this book when I was in high school and, honestly, it was probably the single biggest motivation for me to decided that I would NEVER have a "job." It had such a positive impression on me that I decided right then and there to create wealth and success on my own terms, whatever it took. I would also highly recommend the Cash Flow Quadrant and Rich Dad's Guide to Investing once you've finished the first one.
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Ernie Lo 14 years ago

Thanks Andrew! Can you go into more detail how you went about your life? Did you end up buying a house straight away or did you go some other route first?
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- webwriter 14 years ago
  
  i read the book and learned that working for someone else all of the time keeps you down, saps your energy and motivation. For a happier, more prosperous life, you've got to take the initiative and become your own boss.
  
  That message resonated with me. I always resented working for someone else and hated nearly every job I had. It was about time that I did something for myself for a change and took some responsibility for my own life, instead of depending on a job and/or the government to provide all of that for me.
  
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- Andrew O 14 years ago
  
  Originally Posted by Ernie Lonardo
  
  Thanks Andrew! Can you go into more detail how you went about your life? Did you end up buying a house straight away or did you go some other route first?
  
  Well the road hasn't always been easy but when I read the rich dad books I felt so inspired to be an entrepreneur and investor, that I knew I wanted to do that for the rest of my life (especially real estate investing). So now, I'm using the internet as a way to create wealth that will ultimately help me reach my goals of buying real estate investments. As he talks about in the books, business is like the game Monopoly: you buy 4 green houses and trade them in for one red hotel. Right now, I'm using the internet as my "green houses".
  
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Chad Masters 14 years ago

I just read that book about 6 months ago and I must say that it really opened my eyes. It was an enjoyable read and that book has motivated me more this year than any time in my life I can remember. It's really all about having money work for you and it makes great points about trying to get out of the rat race. Enjoy the read.
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rcritchett 14 years ago

Great book! Definitely a classic with some powerful strategies, philosophies and tried and true fundamentals! If taken and applied on a consistent basis, the information in that book can change your life in a large way. !!
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Dan Axelrod 14 years ago

I really wish he'd update it for the internet age. Brian McAboy sort of did with his Rat Race Escape Plan course, which is excellent. I don't think Kiyosaki is the best entry level finances guy, though he's not bad. I do think he is rather cavalier about risk in investments and real estate.
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Ernie Lo 14 years ago

Started reading it....LOVE it! Unlike a lot of the "make money online" books....I feel this book is much different and is going to change my life!

I love Robert K....his one reason I started investing in Silver last year, and that investment was a good choice so far (wish I was able to buy more!)....so he definitely knows his stuff.
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sbarrow 14 years ago

It's very good. Many of the things I read in there were things I already knew but could never really articulate. I think the single most important point was the difference between assets and liabilities.
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ellewong 14 years ago

The Cashflow Quadrant!

Get out of the E and SE quadrants
Focus on I and B
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robrave 14 years ago

Lol, I got this ebook for free somewhere.

I learned what asset and liabilities is. And to get rich, you need to acquire assets.
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- davebr52 14 years ago
  
  This is a true story.
  
  In 2004 during my first coaching training, we were discussing goals and the girl I was talking to sharded her big goal.
  
  She said that within 5 years her and her husband wanted to own their own yacht and sail it around the world.
  
  I thought this was "pie in the sky" but she said her and her husband had read this book and it had changed how they saw work and money. Since then they had continued working but had built up a small residual business in the "off time" - anyway this wasn't small for long and pretty soon they had their yacht and were as Kyosaki says financially independent.
  
  2 years, 5 months later they were there way...
  
  They are currently somewhere between Darwin and Perth.
  
  The book - you guessed it "Rich Dad, Poor Dad"
  
  The lesson. You've got to make it work when you're not there
  
  Dave.
  
  PS: Reading it to learn will do nothing, applying it is what makes the difference
  
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  naruq 14 years ago
  
  Yes I read Rich Dad Poor Dad a couple of years ago. what I learned is that the rich think differently from the Middle class and poor. In addition, the rich use a different vocabulary from the middle class and poor.
  
  Thanks
  
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Caroline Lingard 14 years ago

This is a great book. I read it and re-read it and will probably read it again. Makes you realise that making money is a mindset.
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- Spot the Ball 14 years ago
  
  I read this a few years ago.
  
  A very good book, it doesnt tell you how to make money but rather how to view money as a tool that works for you.
  
  If I remember correctly, his rich dad (friends dad) lived in a plain house with a old rug for their carpet, all the while the rich dad would beaver and chip away at his business and wouldnt go out spending his hard earned on new carpets etc .... instead he re-invested and compounded his fortunes to make the money work for him.
  
  Now, we can easily apply this to what we are doing with IM.
  
  Instead of making a few quid/dollars and then spending it on a shiny new toy, re-invest those dollars even if it isnt much, you could outsource a few articles and have them distributed by any one of a few good services and get another product on first page of google. Then you could have double the profits to again re-invest and it hasnt really cost you anything to do this .... if you look at the spending as investing in your own future fortunes.
  
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Ernie Lo 14 years ago

So far the book has really got me thinking about building more income generating assets. (more adsense websites for me) and I have made a monthly spreadsheet in Excel listing my total cash flow....job income + asset income and also listed my expenses, most being essential unless I want to walk around everywhere and ditch my car lol. But it is surprising that I spend about HALF of my monthly income, no wonder I have trouble saving!

I know it sounds boring to make a income/expenses spreadsheet but it's actually fun and will really show you how you can save money and show you were you're wasting yours.

Don't waste your money...use it to build/buy more assets!
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PPPPaul 14 years ago

I had an "out of body" experience in a bookstore around 2003. I swear this book "drew" me to it as I was walking down the aisle. At about $10, there was no resistance from my wallet -- but it truly opened my eyes to a whole new way of looking at things.

pt
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PPPPaul 14 years ago

PS. The games "Cash Flow 101", "202", and "Cash Flow for Kids" are also highly recommended! Expensive but helped my young kids "get" why I was so keen on passive income
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BenBrent 14 years ago

I am a big fan of Robert Kiyosaki and have read quite a few of the books put out by his company, including books by his advisors. The Rich Dad book I've read most recently is Retire Young, Retire Rich. I have learned alot from Robert Kiyosaki, but I'd say the two most important things I've learned have been the difference between an asset and a liability and the power of leverage, especially mental leverage.
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- webwriter 14 years ago
  
  I also bought the Cash Flow game and for awhile, played it with three or four other interested people at the local library.
  
  We learned to distinguish items that Kiyosaki called "doodads" from worthwhile items that earned income, such as various properties. Since then, I've restrained myself from buying items as clothes simply because I wanted them and put more money in my SEP, etc. Still don't have enough confidence or skills to get into real estate yet, especially buying forclosures.
  
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  BrittyBritt 14 years ago
  
  I recommend his entire series. Like most people have said, the book isn't going to give you a "step-by step" guide on how to become rich (but then, what book really does) but it is going to give you some good fundamentals and open up your mind to what it really means to be financially independent.
  
  It's a good motivational story. It really drove home what I was already thinking (not working a 9 to 5, wanting to retire when you're still young, living your "dream life").
  
  Next to "The Richest Man In Babylon", it's my favorite book.
  
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he_who_brings_order 14 years ago

From this book I understood the basic concepts that lead me now... I recommend the entire series of "rich dad poor dad."

How will affect you depends on how much you are qualified by these issues...
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jay walters 14 years ago

Great book and teaches you to really think out of the box. Robert has been instrumental in my business journey. I picked up his book after I got into the franchise business. The mindsets he shared has greatly helped my online business ventures... going from zero to a couple of thousand in 6 months... as far as I can remember.

I find that the principles he writes about are thoroughly seen in his other books. However, I started with the Guide to Investing book and then got the audio version of RDPD.

He and his team know their content and live it. Keep going... he's got other free resources.
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