Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!

by Robert T. Kiyosaki, Sharon L. Lechter

book data

5,888 ratings, 3.60 average rating, 1,122 reviews (more data...)

rating	frequency	%
5		24%
4		30%
3		29%
2		10%
1		4%

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published

April 1st 2000 (first published 1997) by Warner Business Books

binding

Paperback, 207 pages

isbn

0446677450 (isbn13: 9780446677455)

description

Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his...more

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08/11/07

Troy rated it:

Has a copy to sell/swap — Read in December, 2005

I bought this book on the recommendation of a client, and from page one I was feeling uncomfortable with it. I pushed aside the part of my mind that was shouting "This guy is trashing highly educated people and the working poor!" and I was able to actually become enthusiastic about the message of the book.

Here is the message of the book, and as far as I can tell, the only thing of value in its pages:

* When you own something, it is either putting money into you...more

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5 comments

05/26/07

Keely rated it:

bookshelves: non-fiction, reviewed

I read this book while in an Entrepreneur phase. On one hand, it is rather inspiring, in a John Madden sort of way. You see, John Madden (American football broadcaster) always makes everything sound easy, which may be how he coached the Raiders to the superbowl. He'll say something like "now what they need to do here is score a touchdown. I think that if they can do that, they will turn this game around".

I still recall a memorable game where a quarterback's contact fell ou...more I read this book while in an Entrepreneur phase. On one hand, it is rather inspiring, in a John Madden sort of way. You see, John Madden (American football broadcaster) always makes everything sound easy, which may be how he coached the Raiders to the superbowl. He'll say something like "now what they need to do here is score a touchdown. I think that if they can do that, they will turn this game around".

I still recall a memorable game where a quarterback's contact fell out, and while he and the refs looked for it, Madden said "now here's a guy who when he wears glasses, he can see better". When it's explained in such a simple way, it really seems like the easiest thing in the world. Unfortunately, one must remember that the 6'5 defensive line is not just going to roll over and say 'uncle'.

And real estate isn't any easier. There's always some conflict around the corner to trip you up and send you back to square one (or even square negative one). So, while this book gives you such excellent advice as "learn from failure", "make profitable deals", and "work hard for yourself", it doesn't actually give you a system or method to make money.

This seems a strange irony to me, as this book is clearly marketed to people who are not smart enough to realize that they should 'work hard and not give up' if they want to succeed, but who are smart enough to be able to figure all the rest of the logistics out by themselves.

Now, there are supplementary books that give a lot more in-depth information, but they still tend to fall into similar traps. It seems to me that you are either the self-motivated entrepreneur-type, or you aren't, and that difference will show itself often and early. The self-made may use this book, but to continue projects they are already working on, not to start their 'dream business' from scratch.

There is another option for the marketability of this book, but it is not one I like to think about: depressed people who feel their lives going nowhere and stave off depression by clinging to untenable dreams. For these types, self-help and new age books act like a surrogate (or additional) religion: bolstering their self-esteem and making them feel as if their dreams are truly within reach.

Then, years go by and the dream draws no nearer. They get depressed. Then they whip out this book (or another one) and suddenly feel like their millionaire retirement is only 6 months away! Then they do nothing again.

I'm not saying people shouldn't have dreams, and I'm definitely not saying not to follow them, and I know people get attached to their denial, but it's not going to make your life any better.

Now, I know that most people who (don't say 'peddle', don't say 'peddle') market these self-help (or new age) products are not usually scam artists. Most of them believe in what they do; they believe that they are helping people; and I hope sometimes they do.

However, there is a difference between being a doctor and telling someone they have cancer to help them move on and lying that there is no cancer because it seems more 'kind' or 'uplifting'. The latter, is, of course, morally reprehensible (said the atheist).

Kiyosaki has built an empire off of this book, and made himself a pretty penny. He has also been researched by some critics who have challenged his assertions about his wealth, real estate successes, and the very premise of the book. There is no evidence that his 'rich dad' ever actually existed, and Kiyosaki has said in interviews that the character is, at best, a combination of people. However, at other times he has stated that he definitely does exist. And that doesn't even go into his support of Casey Serin.

Maybe I'm wrong, maybe you will buy this book and it will turn your life around, maybe Kiyosaki is relating a true story of struggle and inspiration, but maybe not, maybe it will just be another $5 in his pocket and less room on your bookshelf for Chekhov.(less)

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02/11/08

Dan rated it:

(review of isbn 0751532711)

bookshelves: fiction, personal-finances

Read in January, 2001

recommends it for: nobody

This book may do a good job of getting you excited about your financial future but the false information it teaches negates any benefits.

I believe this book does a disservice to the public. I suspect it was written to appeal to those who are failing in the world's conventional definition of success. Didn't go to college? Can't hold down a stable job? Good for you! You haven't fallen for that waste of time and stupid rat race like all those other suckers!

Saying that higher...more

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03/26/08

Nola rated it:

(review of isbn 0751532711)

bookshelves: nonfiction---financial

Read in January, 2006

recommends it for: people who don't want to think "poor" or want to learn about money

While driving for the Thanksgiving vacation, my husband and I listened to Robert Kiyosaki’s book, Rich Dad, Poor Dad, on CD. This book helped us to expand and to think outside the box when it came to money. It gave us many things to think about and other ways to view our finances. I enjoyed it so much that I not only listened to it twice on CD, but also read the book itself.

In his book, Kiyosaki reveals that he had two fatherly perspectives while growing up. His biological father...more While driving for the Thanksgiving vacation, my husband and I listened to Robert Kiyosaki’s book, Rich Dad, Poor Dad, on CD. This book helped us to expand and to think outside the box when it came to money. It gave us many things to think about and other ways to view our finances. I enjoyed it so much that I not only listened to it twice on CD, but also read the book itself.

In his book, Kiyosaki reveals that he had two fatherly perspectives while growing up. His biological father maintained an attitude towards money that kept him struggling financially throughout his life. His friend’s father, who he spent a lot of time with, held a different perspective, and ultimately prospered. The two men regarded money differently, which caused young Robert to compare and ponder the different things each dad taught. In doing so, he had to choose which path to follow, rather than just blindly accept what he learned. He applied these principles in his life, and, like his rich dad, prospered financially.

I enjoyed the way Kiyosaki introduced us to both fathers. He puts us in the scene of action, rather than lecturing us, and like he did as a boy, we learn from actions rather than words. This is more successful, I think, than most financial books, which while helpful can be a little boring.

Kiyosaki presents the six lessons that his rich dad taught him, and then expands on them. He provides examples and applications. Much of what he says caused me to change my normal perspective as I considered a different way of thinking. Similarly, as I read, I could see phrases that I and others have used that mark us as “poor.” In fact, over the Thanksgiving holiday, my dad unknowingly repeated about six or seven things that Kiyosaki’s “poor dad” had said! These statements have caused me to realign many of my thoughts on money.

As we drove, my husband and I frequently stopped the CD to discuss not only the changes in our thinking but also the inspiration that occurred to us. We began seeking opportunities, rather than just blindly accepting the fact that we were broke. We discussed business opportunities, and chances we could “work to earn” rather than “work for money.”

If this book has a failing, it is that it is more of an overview than a how-to. It left me wanting to learn more. However, I understand that Kiyosaki has several other books written that appear to dive into the subject more thoroughly, and I look forward to reading those. Still, this works as a great stepping-off point to make us reconsider our view of financial issues.

This was clear, well-written, and thought-provoking, and left me wanting to learn more. It made for great discussion with my husband, and I felt like we both grew closer as we considered the opportunities around us. I highly recommend this book to anyone who wishes to increase their financial knowledge.
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10/06/07

The other John rated it:

(review of isbn 0751532711)

bookshelves: borrowed, curiosity

Read in October, 2007

"And I will say to my soul, 'Soul, you have many goods laid up for many years to come; take your ease, eat, drink and be merry.'"
But God said to him, "You fool! This very night your soul is required of you; and now who will own what you have prepared?"

That parable popped into my mind when I read this book. This book is about "what the rich teach their kids about money that the poor and middle class do not." It's not so much a manual on how to g...more "And I will say to my soul, 'Soul, you have many goods laid up for many years to come; take your ease, eat, drink and be merry.'"
But God said to him, "You fool! This very night your soul is required of you; and now who will own what you have prepared?"

That parable popped into my mind when I read this book. This book is about "what the rich teach their kids about money that the poor and middle class do not." It's not so much a manual on how to get rich, but more of a book on the underlying worldview of the wealthy. In it Mr. Kiyosaki contrasts his own father--Poor Dad--who got a good education, worked hard, but never quite made it big, with the father of one of his friends, who was quite successful and took Mr. Kiyosaki under his wing. I was moved to read this book because, as I've been looking over my finances, I wonder if I might not have been doing things wrong. It turns out that I'm not totally off Mr. Kiyosaki's track. By the grace of God I've been able to avoid major debt and I tend to avoid transient luxuries such as fancy cars and the latest electronic gadgets. (Of course, my two year "vacation" overseas was hardly a wealth building choice.) On the other hand, I'm too lazy to work hard and invest my finances responsibly. I'm content to stick my excess cash in the bank and forget about it. So has the book changed me? I don't know. I don't need to be rich, but I sure do covet the financial independence that wealth can buy. Even while I recognize the wisdom that Mr. Kiyosaki offers, I couldn't really buy into his world view. I'm going to have to think about this some more before I make any lifestyle changes. Could I recommend this book? Well, it was an enjoyable read despite the fact that I find finances boring. But I have two big reservations about it. The first that it was written about ten years ago, in a different financial climate. The second is that Mr. Kiyosaki has other books and materials for sale. I sometimes wonder if maybe the unspoken secret to financial success is to get a lot of people to buy your books and attend your seminars. Caveat emptor!(less)

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09/05/07

Meutia added it (review of isbn 0751532711)

bookshelves: not-recommended

Read in April, 2001

This book is more a motivational book rather than personal finance book. It talks about general things that people knew already. Plus, after reading the analysis of this book by John Reed, I became increasingly skeptical about it: the author is making money out of writing this kind of book instead of through managing his own finances. You can read this book for leisure but it won't help much in managing your personal finance. And if possible, don't buy it, just borrow from local library. Persona...more

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01/21/09

Danine rated it:

(review of isbn 0751532711)

Read in January, 2009

recommends it for: Suckers

I've been wanting to read this for a couple of years. After some recent events in my life I wanted to understand the financial thinking of people who were raised wealthy and those who were not. The first chapter was great. The storytelling was simple and informative. It made so much sense to me and I related to it. Then I started Lesson Two: Why Teach Financial Literacy. It was this chapter that I realized that homeboy Kiyosaki is quite pompous. I understand that he was using specific exam...more

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05/26/08

T.J. rated it:

bookshelves: this-book-is-wretched

Inane, self-righteous congratulatory drivel best left to the rubbish heaps.

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12/19/08

Leslie rated it:

(review of isbn 0751532711)

bookshelves: business, nonfiction

Read in December, 2008

There were things that I liked and things that I disliked about this book.

Dislikes:

*Author makes exaggerations, blanket statements, and assumptions and then presents them as facts. (i.e. He states that Americans pay 50% in income taxes. Not many Americans are in this tax bracket, certainly not the person that would be reading this book!)

*Author doesn't understand economics, politics and law well. For instance he states that "Our staggering national d...more

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05/27/08

Mugo Mugo rated it:

Read in January, 2007

this one and the other one by Kiyosaki (cash flow quadrant) really shook the financial cobwebs out of my head. i really like the bare-knackles definition of an asset- if it doesnt generate cashflow, it aint an asset no matter how much you paid for it. that struck my' hummer' off the assets column leaving a huge dent. a family house would also not squarely sit in this column. ok, it generates cashflow as 'rent not paid', but the value you would put for it in this column according to Kiyosaki sho...more

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05/19/08

Alan rated it:

(review of isbn 0385496397)

Read in April, 2008

recommended to Alan by: Teacher
recommends it for: Anyone

Rich Dad, Poor Dad is easily one of the most insightful and useful books of our generation. In an ever changing economy it is important for people to have not just academic intelligence but financial intelligence in order to be successful. This book gives so much information that many people never learned in school, college or from their parents. This book teaches smart ways to invest and ways to make your money work for you instead of having to work for your money.
This book appeals to all...more

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04/09/08

Abby rated it:

(review of isbn 0751532711)

Read in January, 2004

This is a GREAT book! I can definitely say it changed my life and they way I look at money and finances. For example, my husband and I bought investment properties after I had him read it as well. It is very easy and interesting to read. READ IT! READ IT! READ IT!

Here is one of my favorite lines from it, approximately quoted: "I have never met a rich man who hasn't lost a lot of money, but I have met a lot of poor men who have never lost a dime." True! SO TRUE. Everytime I...more

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02/03/08

Nate rated it:

Read in February, 2008

After getting into the first few chapters of this book I found myself quite excited as I came across some information in regards to money that is put into a perspective between how wealthy people think and how middle class/poor people think. I would not expect a person to agree with everything after reading this book once or experiencing some of the things this author has experienced but it really opens up a lot of ideas in how to proceed.

The most interesting thing brought out in thi...more

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10/03/07

Oat added it (review of isbn 0751532711)

Read in October, 2001

recommends it for: Business fans

หนังสือเรื่องพ่อรวยสอนลูกหรือในชื่อภาษาอังกฤษว่า Rich Dad Poor Dad ได้กลายเป็นจุดเปลี่ยนสำคัญของสำนักพิมพ์เล็กๆ แห่งหนึ่งในเมืองฟินิกส์ เมื่อหนังสือเล่มนี้ซึ่งเป็นผลงานของโรเบิร์ต �...more หนังสือเรื่องพ่อรวยสอนลูกหรือในชื่อภาษาอังกฤษว่า Rich Dad Poor Dad ได้กลายเป็นจุดเปลี่ยนสำคัญของสำนักพิมพ์เล็กๆ แห่งหนึ่งในเมืองฟินิกส์ เมื่อหนังสือเล่มนี้ซึ่งเป็นผลงานของโรเบิร์ต คิโยซากิและชารอน แอล. เลชเตอร์ ได้ตีพิมพ์ออกมาเพียง 1,000 เล่มในปี 1997 เดิมทีผู้เขียนทั้งสองคิดว่าหนังสือที่พิมพ์ออกมาคงใช้เวลาเป็นปีๆ กว่าจะขายหมด แต่แล้วหนังสือเล่มนี้ในปัจจุบันกลับขายได้มากกว่า 6 ล้านเล่ม โดยตีพิมพ์เป็นภาษาอังกฤษและภาษาต่างๆ อีกกว่า 35 ภาษา
สิ่งที่ทำให้หนังสือเล่มนี้น่าสนใจก็คือเรื่องราวของผู้เขียนในวัยเด็กที่เกี่ยวกับความแตกต่างกันอย่างสุดขั้วของพ่อ 2 คน คือ พ่อรวยและพ่อจน พ่อแท้ๆ ของคิโยซากิคือพ่อจนซึ่งเรียนจบปริญญาเอกและเป็นอธิบดีกรมการศึกษาของรัฐฮาวาย แต่กลับต้องกลายเป็นคนล้มละลายในช่วงสุดท้ายของชีวิต ในขณะที่พ่อของเพื่อนสนิทซึ่งออกจากโรงเรียนตั้งแต่อายุ 13 ปี กลับเป็นคนที่ร่ำรวยที่สุดคนหนึ่งในรัฐฮาวาย พ่อรวยนี่เองที่เป็นคนที่คอยสอนและชี้แนะคิโยซากิตั้งแต่ยังเด็กในเรื่องการเงิน ถึงแม้คิโยซากิจะรับเอาความเฉลียวฉลาดด้านการเงินมาจากพ่อรวย และธุรกิจการทำกระเป๋าสตางค์ของนักเล่นกระดานโต้คลื่นที่มีแถบติดเวลโครของเขาจะประสบความสำเร็จในปี 1977 อย่างงดงามก็ตาม แต่ความปราถนาในส่วนลึกของเขาด้านการศึกษาก็เป็นมรดกที่เขาได้รับมาจากพ่อจนเช่นกัน พ่อทั้งสองของเขาจากโลกนี้ไป ก่อนที่ตัวเขาเองจะอยู่ในสภาพพร้อมที่จะถ่ายทอดเรื่องราวเกี่ยวกับคนทั้งสอง

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07/13/07

L rated it:

Read in July, 2007

recommends it for: everyone

This book is not just about money. It's about how we are taught to think; how we are programmed by schools, family, and friends to look at the rich as greedy no good bloodsuckers and opportunities as risks. It is an attempt to reprogram minds to look at why we do what we do.. why do we buy all these shoes, clothes, cars, jewelry.. have we earned it or are we just trying to maintain an image?

To me the most important thing it teaches is that being educated is the key.. educated in o...more

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01/30/08

Jocylynn rated it:

(review of isbn 0751532711)

My father handed me this book two nights ago, and said something to the effect of "interesting read--not very informative, but not bad".

After reading 36 out of 195 pages, I've already gotten a grasp of the overall message (make your money work for you). I've also become bored with it. As a future purveyor of doctorate-level counseling/psychological services (fingers crossed, here), reading the dribble that pop-psychologists, self-made millionaires, and the like are allowe...more

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06/30/07

Mowai rated it:

recommends it for: no not really

if you want to learn about a how to make a best seller or make a book about making money this is a model to follow. No it wont tell you about how to invest, or where to invest, or what strategies to use. What I did glean from this book was how to take something of minimal value and if marketed well can yield large returns. There is little in this book of "actual" practical use, just a few stories from the writers life, no details on how he actually used it to help him make is fortun...more

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07/14/07

Matt Nehring rated it:

(review of isbn 0446611093)

Read in July, 2007

recommends it for: EVERYONE

The book is about a man's life lessons from his two fathers, his rich dad and his poor dad. One father was the superintendent of schools in Hawaii while the other was merely a janitor. One constantly told his son "Son go to school, study hard, get a good education, and then get a good job with great job security." The other one became one of the richest men in Hawaii by making smart investment choices. This book is a must-read FOR EVERYONE both millionaires and not-yet-there alike by s...more

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10/09/07

Krissy rated it:

(review of isbn 0751532711)

Read in November, 2006

recommends it for: Teens on up

This was a fun read. Fascinating, too. Good insights in to the differences in financial talk between his wealthy "dad" (actually his best friend's dad) and his own well educated father who never had control of his finances-- rather, his finances had control of him. Very motivational book-- got me thinking about what I have to offer, and made me believe that I have the ability to offer it. It's in the way I think about finances. Am I the type of person to say, "That's too expe...more

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08/06/07

Spencer rated it:

(review of isbn 0751532711)

Read in September, 2004

This book shares the same fundamental problem that plagues most business how-to's (like The E-Myth): terrible, corny writing. You would think smart, successful people like Kiyosaki and E-Myth's Michael Gerber would be able to retain a decent ghost writer, but you'd be wrong. As for the content, there are a few nuggets of wisdom here but the major revalations and practical guidance that the word of mouth for Rich Dad promised just never materialized. Here's the entire book in a nutshell, "Wh...more

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