Rich dad Poor dad ? Have you read this?

by 96 replies
114
Hi,

do you guys like this book? And do you like the ideas of Robert K. ?

What is your opinion for this whole concept they came out with?

Adam
#main internet marketing discussion forum #dad #poor #read #rich
  • I'm not sure this belongs here but I'm not the one who makes that decision.

    I agree with Robert Kiyosaki that you should not consider your house an asset.

    I disagree with him on many other things, such as the high-pressure RDPD seminars put on in his name around the country. I have heard many horror stories from reputable sources.

    Here's a WF thread on RK:

    http://www.warriorforum.com/mind-war...-poor-dad.html

    and another here:

    http://www.warriorforum.com/main-int...technique.html

    fLufF
    --
  • I've read a few of Kyosaki's books and like them overall. Kyosaki does present important practical concepts. For example, he suggests that you don't buy miscellaneous things (doodads) that don't give you a ROI, such as jewelry and golf clubs. Buy them when you're business has sufficient money to pay for them (if you wish). Kyosaki, in some of books, has a lot of good things to say about real estate and he's inspired me to consider investing in single homes. He recommends looking at a LOT of properties before investing.

    The book, Rich Dad, Poor Dad, in my opinion, was and still is a real eye-opener. It makes you think. Of all of Kyosaki's books, that one is a must-read.
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    • I've read several of Kiyosaki's books. I love the concept - that school doesn't teach you anything real about money (so true) and that the way to wealth is not through a job.

      I don't think that everyone can or wants to invest in Real Estate. This is what Kiyosaki invests in. That's not my thing and honestly, I don't see it ever being my thing - but I still think his concepts are valuable.
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  • Yes it's a terrific book. Kiyosaki is a genius within his field of work. He is full of knowledge and wonderful advice.
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    • Get it. Rich dad Poor dad is an excellent book, so is the next one in the series - Cash Flow Quadrant. But don't buy any other of his books. Beyond these two books, the guy is a complete fraud. All of his other books are full of rubbish non-practical babble. He also doesn't practice what he preaches. He himself makes most of his money from the sale of his books, he is in no way a big-shot investor like he claims to be.
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  • If you want a better book about making money on the internet - with real practical advice then take a look at "Get Out While You Can" by George Marshall. Very thought provoking and better than anything by RK in my opinion. Best price is Amazon Kindle at around £4.59.
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    • I don't think that Robert K. talks about getting rich on the internet. He just talks about the basic. The basic ideas that changes the way you look at the world.

      Adam
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  • Adam, agreed, but the theme of "passive income" is far better described in Georges book (and also how to get it)
  • I really liked the book for mindset purposes. My only problem is the book doesn´t really lay out a stratgy or key steps to getting that success rate and some parts are a bit vaugue. I enjoyed reading his wifes book more "Rich Women" as it was more focussed on real estate which is something I am interested in in the long term.
  • I found Rich dad poor dad to be a lot more about your mindset. sure he talks about property as an avenue for investment but overall I thought it was a lot more about educating your mind towards being financially free and not trapping yourself with the "my job is my life mentality".

    It changed my thinking about money and I think I would not be on this forum if I had not read it.
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  • The Kiyosaki books changed my life. Literally.

    RDPD got me started and CFQ had me quitting my job soon after.
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    • RDPD is about MINDSET and if you "get" that mindset, it can be a game changer.

      It teaches the crucial financial ideas that they don't teach in College.

      I am putting my little sister through college right now. She is an undergrad. She has a "full ride", on me. I pay everything. She's lucky but there is a caveat I gave her....

      In order for me to continue supporting her, I REQUIRED that she read RDPD this year between terms and submit me a "book report" (lol, remember those?). She did, and ended up liking it. The book report was soly to PROVE that she read it, and opened the channels for discussions.

      Yup, I believe it's that good.... that IMPORTANT.
  • My father gave me this book as a present a few years ago. Great book. Kiyosaki's books are all great.
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    • Yeap great book. It does give you an idea on what a small percentage of the elite is doing in order to get rich. Some principles mentioned in the book are always overlooked by most of the people.
  • I never read THAT book, but some of the others in the series. Not bad stuff. Can't comment on the rest.
  • Banned
    Robert Kiyosaki is a hustler.

    ... I've read his books and while the concept is interesting and engaging, the practicality of it is non existent.

    Also, if you do a little cross checking between his books there are a LOT of inconsistencies in his stories... plus, I highly doubt 90% of his stories are even real. There's now way he could recall exact conversations that took place like he describes in his book.

    And some of the advice is just plain bad ... if you want a detailed breakdown of this, here's a good resource:

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

    Be careful who you listen to.

    Ansar
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    • Haters gonna hate, potatos gonna potate
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    • John's site is a great summary of all the bashing that Kiyosaki gets. It ranks REALLY well in Google.

      But I've found it a bit nit-picky and hollow. Checking just now I may know why.

      Robert has been more vindicated in his views eg about 401ks, houses not being assets, silver & gold, invest for cashflow not capital growth, since the GFC hit in 2007/2008.

      John's Kiyosaki page says at the bottom

      "Copyright 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007 by John T. Reed"

      ie not been updated since 2007?

      For example, I think Rich Dad has now named himself publicly and is giving seminars himself.

      If nothing else RK has been an catalyst in many, many people's lives, so credit where credit is due for this alone.
  • There are some good insights, but Kiyosaki made up the whole rich dad, poor dad story.

    I recommend The Millionaire Next Door instead.
  • It was a fine book. I was forced to read it a while back as a means to get me interested in business. It's a good eye opener, but definitely not a guide.
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    • The book was overall inspiring. Though didn't agree with some of the specifics, especially near the end of the book.

      .
  • To me the material is too general to be of much use. I agree with him that the new golden rule is that those with the gold are now making the rules.
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    • Hi Svaciada,

      I always find threads about RDPD interesting.

      I agree that the title/branding and main plot was genius.

      I think that for some people, certain books/products turn on a light bulb above your head (epiphany) that ultimately lead to a different lifestyle and philosophy. However much BS they may have been padded with, as long as the general message wasn't misleading and dead-end-ish then they always maintain a place in your heart.

      A good writer can utilise a little BS in an entirely positive way in order to suck you in to buying it and suck you into the story line - without leaving you feeling robbed after the event - as long as the underlying lessons are sound ones.

      RDPD did this for me for many reasons. One was to teach me to hate PAYE (Pay As You Earn, the British tax system for employees which deducts before you receive) and all that it stands for as well as highlighting the alternative and why it is empowering.

      Another was to emphasize how dangerous a 'poor dad' can be when they reel off advice that has been moulded from state conditioning and confirmation bias in order to assuage their bruised ego and justify their existence, even if they truly have your best interests at heart.

      I also liked the way the rich dad figure provided lessons surrounded by tough love and how he didn't give them freely - the lessons had to be earned based on faith/trust, which initially gave the forthcoming lessons a higher perceived value to the child in the story.

      Another example for me was Robert G Allen. I'm not the biggest fan of his online business, but he implanted entrepreneurial seeds in my head via his cassette tapes years before I actually left the rat race. When I finally did, those seeds had been germinating for some time (unbeknown to me) and had subconsciously grown into an underlying winner's mentality and philosophy.

      This also taught me (in retrospect) a lot about how powerful the mind is and why we should treat it with massive respect in terms of shielding it from poor input, which is all around us in everyday life along with how important it is to nudge positive influences on those you would seek to teach because you have influence (a child of your own for example), as early as possible. Those influences can compound over time (derived from another of Robert G Allen's memorable lessons - compound interest.)
      • [ 6 ] Thanks
    • My take away from the book had nothing to do with real estate or specific money making mechanisms. The basic concept is to think in terms making time. Own your own time. Obviously in order to do that, learning to make money is an automatic byproduct.

      I say he is 100% correct...there is no room in my mind for differing opinion.

      You can either be in a job...or create jobs. If you work for someone else you are trading your precious time for a pittance of a wage, and giving them ownership of their time...at the expense of yours.

      Sure...in hard times you may be grateful for the wage, while you work to something better...but if you are the type of person who is satisfied with it and never progress, or feel that your job is the end-all-be-all and final goal in lfe...

      ...then yer just stupid. There simply is no other explanation.

      harsh, I know
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  • Very interesting books that sort of got me started in IM...

    Just read it and build your own opinion.

    Cheers,

    ~Gary
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    • RDPD is an Excellent "starter" book for those just starting out in taking control of one's finances.

      Cashflow Quadrant is also good. :rolleyes:

      The later books are written by other people and are NOT as inspiring (IMHO).

      He DOES get into MLM companies, but NOT in his books...I found them in a couple of magazines...so he DOES go for internet marketing (if you go the MLM route)!

      Ruben
  • I think my problem with the book and the things that Robert Kiyosaki "teaches" is this...

    He became rich because of the things he "teaches", not by DOING the things that he "teaches".

    I'm not saying some of the stuff in his book doesn't work or isn't true (even though not all of it IS true)... I'm saying the stuff in his book(s) did NOT make him the rich man he is today.

    Sort of like Susie Orman. She is rich. However, she is rich because she sells books on financial advising, not because her advice is good/sound. She doesn't even follow her own advice. She doesn't have to.
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    • Welcome to the world of education (and the MMO niche...)

      As a few other posts mentioned, this is a good book, and Cash Flow Quadrant is good, but after that everything went VERY downhill.

      And I've never read a SINGLE good thing about the seminars the company hosts.

      I actually went to a free one, which is just an upsell to the $500 one, which is another upsell to seminars that cost at least $12K
    • remember the samuel brennan story??? don't dig for gold, sell the shovels!
  • Rich Dad Poor Dad... amazing book... proper investment strategies are so important in life...
  • Yes I read it and they almost bought over my domain =P
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    • Banned
      Just took a look at your site... that's crazy man!

      Great work!

      Ansar
  • It was one of the first books I ever read when I was just getting started with my business. I'd say it definitely helped put me in the right mindset, which helped with my success in a huge way.
  • God I hate this book. WAYYYYY too many people take it and try to use it as a guide to making money rather than reading it for inspiration to figure out their own methods. What they seem to miss is that RK ADMITTED that he committed fraud and the results he talks about are not possible using legal methods. I used to be a CFP and people asked me about this book all the freaking time. I always warned my clients away from it...there are MANY other books out there that are better and more realistic. When I worked for a book store I always talked people out of buying it.
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    • Seriously? He admits to doing fraud???

      Why would any honest business person want to read it then?
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    • Ha, ha, you say this is not possible? Ha, i have got to laugh. He describes the real story. I got several people in my list to be as rich as he is doing the same legal method..

      If you say it is not possible, it is not possible for you!

      Adam
  • I first got introduced to his books here, or in the marketers chat (Im not sure) but when any turn up on the shelves of my bookshop I am the first to read them because they are not confusing, I hate books that go out of their way to be clever.
  • Rich Dad Poor Dad is very inspiring book. A lot of marketing tricks and life tricks can be learned from it. Overall good book.
  • Hi have read Rich Dad Poor Dad and a few of Robert's other books. I think they are great and do a fantastic job of giving you the big picture.

    One of his former trainer's Loral Langemeier took Robert's work and put it into much clearer focus for me. I would recommend reading her first book The Millionaire Maker. I think it explains everything much better.

    Her Cash machine Book is also very good. Both Robert and Loral teach the same thing: Create a business which generates money then invest those earnings into Passive Income like real estate and stocks.

    My 2 cents anyways.

    John
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    • This is a coincidence

      I just purchased this book last weekend. Only through the first chapter, but it is pretty good.
  • [DELETED]

  • It's a good book with some good ideas.

    You have to watch out for the Rich Dad seminars he hosts every year... they did a special report on them here in Canada on CBC... and apparently they just try to rip you off. the whole thing is a sales pitch. watch it on cbc if you'd like. just google cbc robert kiyosaki or cbc rich dad poor dad

    just a heads up. don't get scammed
  • Have you seen this: Road to Rich Dad | Marketplace
  • I think his books and concepts are excellent. Especially the concept of owning a business that runs itself and makes money 24/7 or one where you get residual income. Like a membership site or joining a MLM networking and building a organization where you get continual residual income.
  • I finished reading this book one month ago. Kiyosaki motivated me to ger rich, I won't give up until I will succeed.
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    • This is good for us, Kiyosaki is a person that has changed a live to tons of people
  • I've actually never come to read this book but I bought it a few days ago and started reading, so far it has been great and pretty much a reflection of thoughts i've been preaching to my family & friends.
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    • Good step ahead... Read this book and keep going... You will achieve what ever you want!!
  • Robert Kiyosaki has said a lot of things with which I do not agree. He makes it all seem so easy. Well, that is not the truth that we see. Sadly, hard work is the secret sauce. It does not matter if your dad is rich or poor. Basically, I do not agree with his premise. People think they can wave a wand and money can appear. Yeah, just like magic. Wish that were so.
  • I think his books are all excellent. Calling him a fraud, etc. is excessive and here is why. No book is a magic bullet that will instantly transform anyone's life.
    The key, to me as an author, is that a book creates a catalyst, what I call a pearl, that hopefully inspires the reader to take one small step towards success.
    Robert's books are full of pearls, including Sales Dogs. It's our job as readers to decide what those pearls are.
  • XponentSys is right... RDPD is about a mindset. All the other stuff is just illustrating the point: If you believe it, you can do it.

    Like others, this was the first business self improvement book I read, and it changed my life. I remember telling my Dad, "I want to make something!"

    So - the lesson is one about mindset, not about the specifics behind what he did (or told the story of doing).

    The original is Napoleon Hill. Get a copy of the original Think And Grow Rich. This book focuses intensely on the mindset. I listen to chapter 2 of this book about every week on audio book...makes driving in northern VA bearable and drills important lessons into your head...
  • It's good reading for philosophy, mindset and not much else.

    If you want something to get your mind into a better state to make money, read it.

    If you want something to actually learn what the hell you can do with that mindset and how to go about doing it, don't even bother.
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  • The way he explains the difference between how rich and poor think is very good to read. (Been 10 years since I read the book, but that's what I got out of it) But the practicality of executing his strategies, just aren't realistic. It isn't as easy as he makes it out to be.
  • It still sells by the boatload, been a bestseller for years, that speaks for itself, I believe'Think and grow rich' by Napoleon Hill is far better, the greatest book ever published,after the Bible that is.


    Kevin
  • Just picked up a copy, looking forward to a good read
  • I have read this book about a year back and realized why we were always struggling in-spite of my father working hard all the time. I always wanted to have a great life-style. This book taught me the advantage of having your own business. But I did not know what business can I do being short on money. I am so glad I came to know about IM. I am only in the learning phases and banking on it to take me to the land of my dreams.
  • I am a fan myself (though not worshiping him or anything).

    A lot of what he says can be (and is) misrepresented or distorted.

    Of course there is the misconception that he just makes money out of his books (making money by telling people how to make money). However this doesn't take into account that he had already retired before writing the book.

    As with anything, you should take what he says with a grain of salt. Implement what you think is good and disregard the best.

    -Simon
  • I know it's a good book, I have heard of it for many times.
  • That book has some good concepts, yes. But the rest of his series does not deliver. They all claim to give you an edge, when all they do is tell you the obvious stuff with no actionable strategy to follow. Furthermore, his "Rich Dad Coaching" was outsourced to a 3rd party that does nothing but scam people. They are nothing more than a terrible OTO company that sells an idea. People pay up to $30,000 for nothing. There are a few good reviews, but there have been investigative reports that make it clear that his stuff is bogus.
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    • It's possible Rich Dad is my next read after of one of Paul McKennas books.

      It's one of few famed books I haven't got around to reading.


      Daniel
  • RDPD book changed my mind to focus own business. I can't agree with all details which he follows. Specially with real estate.Now I'm going to read CFQ.
  • What can we learn from Robert Kiyosaki's? His marketing...pure genius!!
  • It disturbes me (but doesn't surprise me) that many DO NOT SEE the importance of BOTH.... the MECHANICS of making money as well as the MECHANICS of how such money made WORKS.

    :-(((

    We're MIXING things up in this thread.

    I'll be the first to shout out loud that MAKING MONEY is NOT enough.

    KEEPING it is also important.

    I know, because I screwed this up once.

    Lets forget about the "blue pill" mentality for a moment and focus on RDPD for what it is... A MINDSET TO HANDLE MONEY MADE..... ANY money mode!

    The pipe-dreams can be found in the WSO section.

    Should any of those "pan out", please read RDPD.

    I am sorry to come off aggressive, but I can't stress enough how important this is. I know from experience.
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    • Okay, lets take a step back. I am NOT sure why I quoted YOU; it wasn't intended.

      The "blue pill" comment wasn't an attack on your character, personally.

      I was making more of a general statement because I read through this thread and saw people mixing up the idea of MAKING MONEY.... versus MANAGING MONEY already made.

      Seems some here who gave critical reviews of RDPD were doing so because they couldn't replicate his MONEY MAKING strategies. Reading back through, how many people said "real estate wasn't their thing"?

      More than one.

      THESE were the people I was schooling, not the likes of you.

      As for the personal wealth of both of us, now's not the time to debate that. I am sure we're both more than comfortable. :-)
  • I have been meaning to read that book. I have heard great things said about it and the author.
  • I lost my respect for him a few years ago. "Fake it till you make it" Rob

  • It's a fantastically inspiring book, definitely worth a read when you get a chance.
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    • I'll have my copy later this week hopefully!


      Daniel
      • [2] replies
  • it is must read for entrepreneurs, infopreneurs, netrepreneurs and all other small business owners this book will be soon found on my bookshelf.

    - Ashish Patel
  • I haven't read it, but I've heard mixed reviews (quite a few critical ones).

    If you're looking for a good overall strategy for your business and investing, check out The Millionaire's Fastlane by MJ DeMarco. It's an AMAZING, amazing book.
  • Hi

    His first book was genius. It mad me leave my J.O.B. and start up a new business. Yay!

    I feel that subsequent books have lost their way and a little bit of the magic!

    HTH?

    Joe
  • don't know about others..but i love d concept of book and i recommend everybody to read this book once
  • I read it about 9-10 years ago and at the time it did have a strong effect on me. From what I can remember Kioysaki impressed the importance of acquiring revenue generating assets to fuel your lifestyle...

    I remember at the time everyone was putting their cash into real estate (and we all know how that ended - especially over here) who I think the lessons hold true but with an caveat....know when to exit the market before the bubble bursts..
  • I have read this book a couple of times and really liked it. It actually inspired me to come online and start building and selling websites. I figured if the theory can be done offline it can be done online too with websites instead of property.

    Although I do think he makes it sound a lot easier than it actually is. I know people who have lost a lot of money with property development.

    The cashflow game is well worth playing though. You can play it online and its great for kids.
  • I agree with most people here. I think it's an important book from the standpoint of perspective towards money.

    Robert Kiyosaki opened the laborious-sounding door of 'financial education' a door that would have stayed closed for many had he marketed it without a story - the audience in need didn't want to read in statistics and facts alone.

    To all the haters, if he had to invent 'Rich Dad' then so be it - would the story have been as good without the character? Without the dichotomy of the two Dad's the message would have fallen apart - readers wouldn't have been able to place themselves between the two financial realities.

    And, oh right, you're telling me the Bible is full of legitimate stories? Humans learn through jumps of imagination. To tell a great story you need plot devices and real-life doesn't always offer that - without fabrication, your intention to teach is really limited.

    I challenge anyone to write a more engaging and welcoming book on Finance, and one that appeals to all us non-finance types.

    No matter about his personal issues, so what if Sharon Lechter sued him? There are two sides to every story and it's none of my business. Read the original Rich Dad Poor Dad, you can skip all the rest. In hindsight I consider it to have been a seminal step in my life and I count my blessings to have come across it, every day.

    I'm now in the fortunate situation of running my own business from home, in fact anywhere with an internet connection - I had my best week while staying with my parents in France at Xmas; out in the sticks, armed with only laptop and an internet connection.

    If I hadn't built my own business I would have been 'downsized' with all my other ex-colleagues, now looking for work.

    I saw it coming, but they didn't. I have only Robert Kiyosaki to thank for pointing me in the right direction.
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    • I'm not sure I'd condone using the word "hater" to label someone who has merely identified falsehood in a book that's passed off as non-fictional any more than I'd take the liberty to assume that that same person takes the bible seriously.

      In light of your challenge, Napolean Hill seemed to do a fine job with his work without raising any BS sirens in my mind as I was reading, nor did George Clason or many other authors. Indeed, there may be fabricated and exagerated segments to their works however the difference is telling a story which is believable and undetectable and one that is far fetched to the point of being ridiculous.

      You'd be brilliantly wrong to assume a person can't tell a truthful story relating to their own experiences. Not everything has to be fluffed up with falsehood for it to be interesting. You'll probably find truth can be interesting if it's presented properly.


      Daniel
  • Hey I have read Rich Dad Poor Dad and that was the beginning of my Entrepreneur journey. Since then I have read many books with like wise topics my all time favorite being the classic Think And Grow Rich by The Never Fading man himself Nepolean Hill
  • Of all the books I've read...I admit, I've never read Rich Dad/Poor Dad...

    By the sound of many responses in this thread, it sounds like I should read it ASAP...
  • Banned
    [DELETED]
  • This book goes right in line with the 4 hour work week books. The goal is not to be an employee...but to be the owner.
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