BOOK REVIW: Rich Dad, Poor Dad aka. My Daddy is richer than your Dad

Book Title: Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
Author: Robert Kiyosaki & Sharon Lechter
Publication Year: 2000


Whether Rich Dad Poor Dad is fiction or not, there are valuable business principles can learn and apply.

The book is pretty easy to read and understand. The "story" begins Kiyosaki's childhood and how he and his best friend start to make money (wish I was that smart). It wasn't that simple of course =) The book highlights the attitudes toward money, work and life of the two adult male he admirer (the two dads). The attitude surrounding YOU does make a big difference, one of the key Robert stress is the importance of teaching a child positive thinking related money... rich is not (all) evil. Too bad the educational system does not teach financial literacy at a young agr.


I really enjoy the simplicity Robert brings to light of liability vs asset. I'm guess the author means until you paid off the bank it's a liability to you... I love the fact there are many opposition against Robert's thinking. Which is another reason why I love this book. It give you that fresh air, a perspective that the "expert" big-shot firm financial adviser don't (or don't want you to have?).




some of the quotes from the book:
"The poor and middle class work for money. The rich have money work for them."

"Pay yourself first" --Robert quote from another book "The Richest Man in Babylon" (I'll review this later).

Where is the "plan"? Some reader were disappoint by lack of workable plan in the book, but I kind of like the idea that YOU come up with your own action plans. Everyone has and see different opportunity for example Robert found success in real estate. Does this mean that you should go and stand outside of the courthouse? it's up to you.

I took away some financial IQ and going off to found this Cashflow board game, LOL. It'll be a big hit @ my next party!


Update: Thanks to books.google.com you can read Rich dad, poor dad preview here. Enjoy
Here is John T Reed's take on Kiyosaki. You gotta read both side of the story :-)

Reading is fun!

I'll use this useless space to blog about things I read. I ain't into spelling or grammar hell this ain't no English class! But I sure like to read. I'll start writing about business related books since I enjoy them the most and later move into non-fiction.