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Books : Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
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Binding: Paperback Dewey Decimal Number: 332.024 EAN: 9780446677455 ISBN: 0446677450 Label: Business Plus Manufacturer: Business Plus Number Of Items: 1 Number Of Pages: 207 Publication Date: April 01, 2000 Publisher: Business Plus Studio: Business Plus Sales Rank: 176
Product Description: Robert Kiyosaki reveals how he developed his unique economic perspective from his two fathers: his real father, who was highly educated but fiscally poor; and the father of his best friend - an eighth-grade drop-out who became a self-made multi-millionaire. The lifelong monetary problems experienced by his "poor dad" pounded home the counterpoint communicated by his "rich dad". Taking that message to heart, Kiyosaki was able to retire at the age of 47. This book lays out his philosophy and aims to open readers eyes by: exploding the myth that you need to earn a high income to be rich; challenging the belief that your house is an asset; showing parents why they can't rely on schools to teach their children about money; defining once and for all an asset versus a liability; and explaining what to teach your children about money for their future financial success.
Customer Reviews
Average Rating:
Rating: - Fun reading
Easy fun reading -Interesting learning tool-Plan on finding the Cash flow game under the Christmas tree this year for some fun family time with an educational twist.
Rating: - This Book Changed My Life!
This is a MUST read book if you want to obtain financial freedom. Personally, this book totally changed my life!!
Rating: - Greatest Personal Finance book!
This is far by the greatest personal financial book! It sets the bar for all other books. It will change your life...highly recommend it for everyone.
Rating: - Good but not a instruction book
This book is pretty good because the basics it mentions are fairly good.
Its true that 90% of America does not know the different between a true asset and a liability. Financial money management is missing from most of education. If you listen to Dave Ramsey, he says many of the same things.
As for the tax advice and deferrments in this book, I wouldn't bet the farm on it. Yes, things like 1031 do exist but some of the advice like buying a corporate car with a personal corporation is illegal(although the accounting advisor at H&R block did inform me last year before I read the book that deducting mileage and gas on my car was a legal option). You can defer taxes forever on a few things, but not many of them and overall, taxes in America are progressive, not regressive as the author claims.
I did learn and was reminded of many important principles by this book and book series, but I'd take a much closer look at tax law before deducting anything.
Rating: - Don't bother. Seriously.
This book is all cliche and lies.
1. The author recommends that people join MLM to become "better salespeople".
2. The author shows a strong distaste to basic education. (He was held back sophomore year in high school.)
3. The author shows a lack of respect for his real father (poor Dad)
4. The author shows a way too basic math to demonstrate his profits.
5. The author makes recommendations that are flat out illegal (such as writing off vacations on the corporation...aka, tax fraud.)
So, don't bother reading it. You want the basics of the book? Here....
1. People work for money because they are in fear.
2. Rich people horde their money because they are in fear of losing it.
3. Schools don't teach people about money.
4. People who don't know about money will always be poor.
5. He will not show you how to make money, nor will he show you how to make money work for you. He'll give a couple examples that have mathematical and legal errors with regards to taxes.
6. He preaches to use corporations to save on paying taxes....news flash: corporations have double taxation. That's the price of the legal protections.
Anyway, there's the gist of the book. The only money that Robert Kiyosaki has ever made is from this book...it's motivational, but financially irrelevant. This book started it's circulation through Amway...think about that. He is speaking about money and recommends MLM...was this book designed to make the Amway people feel better about their decision to join MLM?
Think before you buy. And hopefully you'll put your money away.
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