I read Rich Dad Poor Dad on the advice of my brother and it was one of the best things Ive ever done. Not because of the information contained in it though. It was useful only in making me see a new path in life which has subsequently led me to read a lot of other things and also led me to this forum.
Whether or not Kiyosaki has ever done what he says is irrelevant. His work is a great entry point and is definitely inspirational.
I agree that it all gets pretty repetitive though, especially "Why we want you to be rich" which I found to not actually say anything for the first half.
All in all, worth a look but probably only as a starting point.I've read 'Rich Dad Poor Dad' and took a bit out of it. I liked his earlier work, but his latest stuff, in my opinion, borders on hysteria and scare mongering. As a general rule, anything with 'conspiracy' in the title should be avoided.
Banker wrote:My post won’t be popular. I’ve read most his books and seen him speak. Banjo is correct he made no money from his own teachings: – his money has been made from writing books and public speaking :- )
He has lost a lot of credibility in recent years due to 'rich dad' being based on fictional characters and his involvement in network 21 (related entity to Amway). Most qualified people in the finance, accounting or legal sectors will say his teachings are simply flawed and incorrect and he is simply a motivational speaker. Sales people in Real Estate, Amway and other groups targeting the lameman investor use his books to hype up potential investors and make them feel smart parting with their money.Funny thing is that most of his supporters are in the lower social economic classes.
I think his books are great for the teenager / kids learning about money. If your want to be a sophisticated investor you can’t rely on what your learn in year 7 economics,
Banker, would you recommend any books for the more experienced? Or is there just nothing out there? I to have found that most of the books I have read are just to basic and do not teach anything to the more experienced person.
In saying that, sometimes I do pick up 1 or 2 tips from a whole book but weather I ever need to put them into action is another story.Many have benefited from his books, created turning points for themselves, created better attitudes and mindsets, don't care if he is poor or rich. The man has had a huge positive effect on so many people, including me.
Not sure I like the comment about low socio economic classes, but there are certainly plenty of appreciative people who aspired to better economic circumstances and needed Kiyosaki's readable material to help them on that journey.
His material helped me a lot, it confirmed many things I believed, but weren't game to "bank" on. With the knowledge and inspiration from him (and a few others), I was able to achieve financial success.
Knowledge is the key, and overrides socio-economic factors.
Many have profited from his books , and many more will. Considering that any one good financial idea is certainly worth
more than the mere cover price of any one of his books, everyone who buys one already makes a profit right there.Cheers
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Hi Guys
I am new on here reading steves book at the moment and enjoying it. I have read RK books and find them more inspirational and of a general nature than a detailed guide. Robert in my mind is a great writer and makes investing concepts rather easy to understand. The best thing I got out of his books are that they made me want to take action for my financial independence and become "wealthy" and not just "rich".
Cheers
Scotty
Great to get the mindset of investing going and one of the first books I recommend anyone to read is Rich Dad Poor Dad.
Some of his other books (Rich Dad's Guide to Investing for example) I feel are not a balanced view at all.Hello all,
I took one step further and joined the rich dad coaching program for $13,997.00 USD
I joined because his message is different.
The "content" of his program is outstanding.
I get a coaching call every Wednesday morning from Roberts right hand man Tony.
I believe the future is in on-line education and not 7K seminars + $1K per month personal coaching.
Half the course is real estate and the second half is paper assets. The course focuses away from "growth" assets into passive and constant income.
Developing in his mind is risky because you are at the mercy of the markets and interest rates.
So far so good and I want to implement his ideas into my programs.
Philip Sigglekow
LREA authorI love his book, "Rich Dad’s guide to investing". He's really good in his field and everyone who dreams to become rich or to accumulate more wealth, should start reading his books. (;
I first read cashflow quadrant which opened my eyes and mind. It reinforced the emotions i had at the time and the goals i was chasing. im pretty much a fan of RK.
After reading that book ive become an avid reader of many other books related to money. Ive attended seminars, had a couple of mentors which have helped me do a couple small deals in the past.
Good books to get me started (rk) but at this point and time im starting again so I need something more specific to my situation.
I like D.Trump where he talks about making his come back. Im not saying im in his league – hell no – but I can relate to the emotional aspect he touches on. He says 'when your in bad times, you dont have the same energy/spirit as when things are booming'.
I have discovered many other great authors. Lately been reading stuff from Stuart Wilde. Very interesting, he talks about quantum phsisics etc.
Then theres 'Think and Grow Rich' – by Napolian Hill. V. good book! inspired me.
Right now im going to have to knuckle down and save up for a deposit which reminds me of Adam Smith – 'LABOUR IS WEALTH/CAPITAL'..
I have read three or four of Robert Kiyosaki's books and they contain some fantastic ideas.
The books really struck a chord with some of my core beliefs. By reading the books it gave me the kick in the butt to change my life – I even moved to a different country and totally changed the direction of my life.
I am also a little cynical that he has only made money from teaching others to make money, and I am also aware that some of the things he has said at seminars etc are factually incorrect – but he is passionate about financial education and that is to be admired.
I love the focus he puts on cash flow when investing in property – I have seen a lot of people focus on everything but cash flow and it has caused a lot of heartache.
We all need to continually learn and educate ourselves, and Robert Kiyosaki's books are a great starting point for the 'big picture' concepts.
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I agree with a lot of the people here that his books are great for changing people's mindset.
Some of my fav stuff of his is the cashflow 101 boardgame, I take out all the playing cards that involve
the sharemarket & just play with a few people on all the real estate cards. Good learning game.
"Real Estate Riches" by Dolf De Roos would be my favourite book in his whole series.
I recently gave my brother "rich dad poor dad" for Christmas and it has done the rounds of the family, I've also read 2 others of Kiyosaki's books and it is the shift in mindset and simplification of complex issues that make them so successful, try reading warren buffet's books and you'll see the point of difference in style and content. I would point out however that his books are horribly written with grammar and content of high school level aimed at maybe a late teen audience (like your newspaper). There were so many times I cringed at his writing style, but therein also lies the charm as he never pretends to be a writer. They appeal to the lower socio economic classes because rich people don't need to read about other rich people!!! Hahahaha
His message however rings true. I preferred McKnight's books for actual specific property strategies and examples hence why I joined the forum. Here endeth my first ever post (phew), cheers to 2011 the year of saving!!
Jonesi
I read and liked his first few books and help me towards wanting to learn more about financial inteliigence. They are good guidelines to start with. Nothing beats experience though and learning from OPM (Other People's Mistakes).
Robert Kiyosaki’s books definitely provide insight and education that the mainstream economics and financial teachings don’t.
Kiyosaki himself states that he is a good marketer and like everything, (including courses we attend on investing), his books are a product designed to sell for a profit and provide a benefit in return. That doesn’t mean they aren’t a valuable tool in property investing education.Certainly, people criticise RK’s material that it lacks content, but his intention is not to provide an instruction manual to become wealthy. More people lack the mindset and the overall “big-picture” view, than information on how-to-profit-from-an-investment-deal. How many people do we know who have attended all the courses but don’t seem able to put a deal together, or make the right investing decisions?
My group plays Robert Kiyosaki’s boardgame, Cashflow every month. If you want to learn the mindset to build a portfolio and you haven’t tried Cashflow then do yourself a favour and play the game with a group of investors. (You can play with family and friends but believe me you get more out of it playing the game with people who are doing the deals in real life). I would not be where I am, without the mindset gained through Robert Kiyosaki’s books and Cashflow game.
As for his books- my advice – get a few from the library and read them, make up your own mind.
If you like them, buy them, read them several times and lend them to your friends.I agree ‘Rich Dad, Poor Dad’ is one of the most inspirational books for anyone starting in the world of business and property investment. After that you have to learn real business.
A good friend just got his latest book, Unfair Advantage, from the US for me (I don't think it's available here yet). I enjoyed it immensely.
It shows how Robert & Kim became financially free via their real estate holdings before they ever got into the education business. I got Rich Dad Poor Dad in 1998 during an illustrious Amway career, i.e. I spoke to about two people
However the Amway book of the month club delivered Rich Dad Poor Dad and that was the book that got me going.Many thanks to Amway and Robert
Cheers, Paul
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SORRY ABOUT CAPITALS MY PHONE IS PLAYING UP. MY FAVE RK BOOK IS 'IF YOU WANT TO BE RICH, DONT GO TO SCHOOL' AS THIS IS EXACTLY HOW IVE ALWAYS FELT ABOUT SECONDARY SCHOOLING AND UNI. I FOUND THE BOOK WITH TRUMP VERY BORING AND DIDNT FINISH IT. I WAS GIVEN HIS NEWER BOOK 'BUSINESS OF THE 21ST CENTURY' RECENTLY BY SOMEONE WHO SAID THEY 'HAD GREAT BUSINESS OPPPORTUNITY FOR ME AND I HAD JUST THE RIGHT PERSONALITY TO USE THIS BUSINESS TO CREATE WEALTH' … 2 MONTHS LATER I AM STILL TRYING TO GET THIS AMWAY PERSON OFF MY BACK ANDTO LEAVE ME ALONE. I WILL LEAVE MY AMWAY COMMENTS THERE.. SO FOR ME, RK HAS LOST SOME CREDIBILITY DUE TO THIS ASSOCIATION BUT HIS EARLIER BOOKS WERE FANTASTIC.
Well, I have read Rich Dad Poor Dad- I liked them. Yes, probably a lot in the way of inspiration and not a lot in the way of perspiration- that is not so much in nuts and bolts. But it has changed my way of thinking and that is what counts to me. It has moved me into action and thinking about money and wealth creation differently. I am happy with that.
I have been to and listened to a lot of inspirational speakers. They are all the same – have a message and you wonder what they actually do toward what they preach. But if it gets you moving and makes you do “something” that is positive, then it IS all worth it.Quote:I think these “made me think about finances” comments are inarticulate at best and dishonest at worst. What is really going on is a lot of people are schlepping along doing a half-ass job of managing the financial aspects of their lives. Rich Dad Poor Dad slaps them up side the head and tells them to clean up their acts. That’s good, but the book goes on to <moderator: delete personal comment> make getting rich seem much easier than it really is and make education sound much less valuable than it really is. Basically, people want to get rich quick without effort or risk. <delete>http://www.johntreed.com/Kiyosaki.html
source John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor DadJohn Reed
This guy looks at all that is dodgey and exposes a few truths. He also sorts out the wheat from the chaf for the wannabe investor. He seems pretty straight down the middle even bagging a close friend in the game and classifying him as a "Do Not Recommend" He doesn't mince words.http://www.johntreed.com/realestate.html
John T. Reed's Real Estate Investment Home pageCaveat emptor
I’m seeing Robert Kiyosaki speaking in Sydney next week (along with Donald Trump), should be interesting.
However the Amway book of the month club delivered Rich Dad Poor Dad and that was the book that got me going.
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