Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money

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Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money

3.91 of 5 stars 3.91 · rating details · 553 ratings · 58 reviews

In late January, 2009, Robert Kiyosaki launched CONSPIRACY OF THE RICH - a free online book which was written in serial basis to help people understand how the current recession came about, and what they need to learn on how to survive through the coming rough years.

An unprecedented publishing event for Kiyosaki and The Rich Dad Company, CONSPIRACY OF THE RICH is an inter...more

Paperback, 272 pages

Published September 21st 2009 by Business Plus (first published 2009)

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Feb 03, 2013 Bill rated it 1 of 5 stars

Over the past few months I've been learning more about investing and personal finance. I've seen Robert Kiyoaski (of "Rich Dad, Poor Dad" fame) mentioned all over the place but have not yet read one of his books. Admittedly this book is not his most well-known book, but it was published at an interesting time: March 2009 -- the most acute period of the recent recession. I was hopeful that he would have a chance to provide updated advice given the unfolding recession.

This book was bad -- and I ev...more Over the past few months I've been learning more about investing and personal finance. I've seen Robert Kiyoaski (of "Rich Dad, Poor Dad" fame) mentioned all over the place but have not yet read one of his books. Admittedly this book is not his most well-known book, but it was published at an interesting time: March 2009 -- the most acute period of the recent recession. I was hopeful that he would have a chance to provide updated advice given the unfolding recession.

This book was bad -- and I even agree with the majority of his supporting points. His thesis as best I could determine is: "the wealthy have concocted a conspiracy to keep the lower/middle class poor, and the way you fight that conspiracy is the learn about money and build cash flows". Setting aside the rhetoric of the first part, I do believe the latter sentiment is reasonable. The problem is: he is big on financial education and building cash flows, but his book is inconsistent and light on details. I don't need pages and pages about the importance of financial education when I'm reading a personal finance book; that's _why_ I'm reading the book! His perspective on building cash flows (which in his case means pretty much owning real estate) makes gross simplifications. Those sections frame the process and decision of owning real estate into a deceptively simple proposition: "just buy real estate and earn $N,000 per month!". He doesn't explain the risks of real estate or the fact that you're converting a well-diversified, highly liquid asset (cash, stocks, bonds, etc.) into a consolidated, highly illiquid asset. There's no discussion of valuing real estate properly, doing due diligence in your local market, or the changes in responsibility, time commitment, and personal risk that being a property owner entails. When I first read those sections I thought the author was just being negligent, but having reflected on it for a few days, I believe someone who reads only this book will be led down a dangerous and potentially ruinous financial path.

Other gripes:

He eschews investing in mutual funds, but briefly praises the work of John Bogle (the founder of Vanguard and advocate of low-cost mutual finds). The reader is left with the impression that Bogle supports Kiyosaki's claim that mutual finds are bad, but in fact, Bogle invented low-cost index funds.

About 20% of the book are sidebars with reader comments, which don't add to the book at all.

He continually shills his own CASHFLOW board game and other educational products.

He talks about his own financial success. It's almost as if he's using his success to justify his points rather than discussing the principles behind his points.

Finally, the most damning fact may be that the author's company filed for bankruptcy in October 2012.(less)

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Oct 17, 2012 Lee Scheer rated it 3 of 5 stars

I have read his other books. This book is pretty much similiar to them. Talks mostly on the same points. Not too much different. So if you already read his prior books I am not sure if it is worth it to buy this book that in the end will certainly make Kiyosaki more money. I always found it interesting too that he never had kids of his own. I know in my own life my kids are the real drain on my pocket book and if I didn't have them I would have so, so much more time to invest in other projects i...more

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Feb 23, 2011 Tim Miller rated it 3 of 5 stars

Mr. Kiyosaki's advice is very sound. Unfortunately, readers have to sift through a great number of Rich Dad marketing pages and repetitive talking points to get to the meat of this book.

My wife bought a fried chicken from Wal-Mart last night. As I dug into the greasy beast, I remembered one of the many reasons I don't like fast, processed food. Most of the "chicken" consisted of fried breading, rather than fleshy good stuff. The little poultry meat I found was delicious, but our family will be...more

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Feb 28, 2010 Justin rated it 3 of 5 stars

Kiyosaki's latest entry in his endless 'Rich Dad' series melds watered down economic conspiracy theory with his plain spoken approach to real estate focused investing. For those that are completely unaware of the function of the Federal Reserve and the mechanisms and workings of global finance, ie most people, the information in this book may be potentially valuable and eye opening. Kiyosaki barely skims the surface of this subject however. Edward Griffin's, 'The Creature From Jekyll Island,' wh...more

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Jul 31, 2011 Brian rated it 2 of 5 stars

Shelves: business, investingfinance

Gift from Sid. Like so many of his other books, there are kernels of truth amongst the crap. Without the knowledge of several dozen other finance books under my belt, it would be hard to tell the difference between the two.

This guy is always pushing the latest bubble. I find it ironic that he became a best selling author with his advice to buy real estate. Then the real estate bubble burst. I'm impressed with the hubris it takes to write a book here that offers gold and commodities as the solut...more

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Jan 23, 2013 Ivan Kharitontsev rated it 5 of 5 stars

Shelves: conspiracy

Robert T. Kiyosaki’s purpose in writing his book, Conspiracy of the Rich, is to let his readers know that no matter what financial situation they are in right, there is always a solution to their money problems. Kiyosaki gives confidence to his readers with this message. This book tells the reader where they need to start to get their financial freedom and how rich people manage their money. He explains how rich people invest and spend their money to accomplish their financial goals. This book...more
Robert T. Kiyosaki’s purpose in writing his book, Conspiracy of the Rich, is to let his readers know that no matter what financial situation they are in right, there is always a solution to their money problems. Kiyosaki gives confidence to his readers with this message. This book tells the reader where they need to start to get their financial freedom and how rich people manage their money. He explains how rich people invest and spend their money to accomplish their financial goals. This book has an astonishing impact on the reader. It opens the reader’s eyes by showing the real problems of financial illiteracy. Conspiracy of the Rich has a lasting value on its readers by explaining how people can best handle their money. ”When you are rich, your money works for you. When you are poor, you work for your money” (Kiyosaki 23). This is the main point of the book, and this idea changes how the reader thinks about money.
Conspiracy of the Rich is really well-written. The story is easy to read and comprehend. It gives many examples of real people’s life problems and accomplishments with money, keeping the reader interested throughout the story. For example, Kiyosaki tells the reader, “in order to be successful in the world of finance, first you need to know the first steps to start the path to financial freedom and different ways to make your money work for you and not for your money work for someone else” (Kiyosaki 7). Kiyosaki has a unique and inspirational way to show the reader his point of view of how to deal with financial problems. This book was very captivating. I can’t relate to having financial burdens, but it is not a boring book. However, this book has a very serious subject matter, so it would not appeal to readers looking for a fun read.
The greatest strength of the book is that it is told in a totally realistic way. If people have financial problems, they can turn to this book and use it to help themselves get out of debt. The greatest weakness of the book is that the author uses strong financial vocabulary that is hard to understand. This prevents readers who do want to think like the financially educated, but cannot since the concepts are too complicated. Despite this flaw, this is one of the best books I have ever read. I would strongly recommend this book to anyone who wants to make changes in their life, and I would recommend any of Kiyosaki’s books since he did such a great job with this book. I recommend this book because it changed my way of thinking and I believe it will change any person’s beliefs regarding the financial world.
(less)

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Jan 19, 2010 Brian Moriarty rated it 4 of 5 stars

This review has been hidden because it contains spoilers. To view it, click here. I never read Rich Dad, Poor Dad but heard about it. This book was given to me while on holidays by a fellow traveler. He thought it was a useful book that you can use to your advantage for investing your money. I normally would never read this kind of book but felt that I have picked up some good information from it.

First part of the book deals with the problems with the financial system and the current financial crisis. He blames the Federal Reserve that was created in 1913 as the starting poi...more I never read Rich Dad, Poor Dad but heard about it. This book was given to me while on holidays by a fellow traveler. He thought it was a useful book that you can use to your advantage for investing your money. I normally would never read this kind of book but felt that I have picked up some good information from it.

First part of the book deals with the problems with the financial system and the current financial crisis. He blames the Federal Reserve that was created in 1913 as the starting point. Then the removal of the gold standard in 1971. Then Glass Seagall Act during Clinton's reign. All of these contributed to the disaster of 2008.

He explains that the education system is the reason that most people do not understand financial ideas and terminology. Wall St. use complex wording for what in essence basic financial ideas.
The education system was developed by John D Rockefeller funded/inspired committees. It's purpose was to create a good employee through the education system and not a good employer.

Basically you go to school and college to work for corporations/Wall Street/government not to become an entrepreneur. After you get a job you are told to buy a house because it is an asset, but in reality it is a liability. You, the worker, are the asset if you are able to repay the mortgage to the banks each month.
Then when you retire you are forced to put your 401k in mutual funds investments. Mutual funds that can suffer badly when everything on Wall Street goes tits up. The money that you, the average worker, earn throughout your life is mainly controlled by banks and Wall Street. He wants you to change that and take control of your money yourself.

Some the stuff he talks about in the first half of the book is all classic "conspiracy" stuff that I had read before but it was good to hear it from a top selling mainstream author.

The second part of the book deals with solutions. He really stresses the need for more financial education in schools and for individuals. He invests in his own business,oil drilling companies, share portfolio(commodities), gold/silver and property. All of his investments generated cashflow. Cashflow is key.

Another idea he stresses is where you fit into his cashflow quadrant called ESBI.E for Employee, S for Self Employed, B for Business Owner and I for Investor. E & S groups represent 80% of the world's population and possess 5% of the wealth. B & I represent 20% of world's
population and possess 95% of the wealth. So obviously getting into B & I will make you very rich!

He sees cashflow as the most important aspect of his financial life. He created a game called Cashflow, to help people improve their financial knowledge and move into the B & I quadrants. I have not tried it.

There is much more and it is an easy book to read. I would recommend it to young people and could open their eyes to the workings of the financial world.(less)

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Jul 25, 2011 C.J. rated it 4 of 5 stars

This book offers some good advice, although much like most of Kiyosaki's books, it has very good points but is light on content.

The book covers the past, present and future of the U.S. (and world) economy. After having read Rich Dad's Guide to Investing in Gold and Silver by Michael Maloney, I much prefer Mr. Maloney's depth of coverage with regards to the history of world monetary policy. Kiyosaki makes some good points and offers good advice for the present and future outlooks for the economy...more

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Oct 29, 2010 Curtis Haderlie rated it 1 of 5 stars

After the first couple of chapters I figured out that this book was kind of like some pop song where you have 3 lines that you repeat over and over. Maybe it's because I have a general understanding of the history he is trying to summarize but I rather think that since he has established his name he thinks he can continue to support his cash flow project by writing empty content books.

I had expected much more and was hoping to learn some practical advice about how to survive in the current and f...more

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Sep 18, 2009 Janice rated it 4 of 5 stars

I read this online, a chapter at a time, before it came out in stores this month. I have read a number of his books and found them to be 'nice'. They basically gleaned the topic but do not get down to real specifics. He does have seminars, which are free to attend, where the pressure is to pay for his in-depth training programs which usually run a couple of days. This book isn't a how to book so it is more informative that some of his others and I enjoyed it much more. I have been feeling the ne...more

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Apr 01, 2013 Manohar rated it 4 of 5 stars

This was definitely a good book!
I was delighted in discovering the position of the author Robert Kiyosaki on issues such as the Federal Reserve, excessive money supply, the low quality of education, etc.
Although I don't agree with all the positions of the author, I enjoyed this book.
This book explains really well these topics to people that aren't aware of them. However if you already knew most of it this book will feel repetitive.
This book doesn't also give much practical advice, for that othe...more

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Jun 13, 2011 Mim rated it 3 of 5 stars

Kiyosaki expounds on some of the rules of money. A lot of the book gives a history of money and how we got to where we are now. What most people are naive about are that our American dollar really has no value-that it is only as good as our governments word-which isn't too reliable really. The Conspiracy theory is basically that there have been a handful of greedy people 'in bed' with greedy politicians. How in the world was Nixon able to take the US Dollar off of the gold standard in the 70's a...more

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Dec 07, 2009 PlatKat rated it 2 of 5 stars Recommends it for: People who like the "Rich Dad" series

Recommended to PlatKat by: No one

Now that I've caught up on my pop-culture reading from circa 2006, I thought I'd treat myself to something current and exponentially more useful. Robert Kiyosaki's latest book in the Rich Dad series was written "entirely online" earlier this year and published just a few months ago. Since the US is in the midst of the largest fiscal storm the world has ever seen, it's no surprise this book is written like Farenheit 9/11 for money.

I read Kiyosaki's first book in the series, Rich Dad, Poor Dad bac...more

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Jan 03, 2010 Chazzle rated it 2 of 5 stars

I tried, but just couldn't, finish this book.

At first, it's actually quite interesting. Personally, I don't take this guy too seriously, but I was going for entertainment value. And entertain he does, maybe for the first third of the book.

By the time I "cut the cord", he was talking about a concept he terms "the B-I triangle", which should have been called "the B.S. bonfire of the vanities."

So...yeah, if you want to be entertained, read a little until you get bored. Then cut your losses.

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Apr 07, 2013 Waseem rated it 5 of 5 stars

almost become a fav but found it a tad bit repetitive, so gave it 5 stars, never the less some very important points perhaps worth repeating by kiyosaki, big fan of his work and this is a must for anyone not looking to make good money...but survive the upcoming depression...

remember they are the times when biggest wealth transfers take place, so look at them with enthusiasm with the help of this book

Waseem
www.InternetRichesMentor.com

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Nov 02, 2009 Loren rated it 4 of 5 stars

Shelves: money

Okay, I get it. You're really mad that Nixon took the US dollar off the gold standard, but for the love of god, do you have to repeat it 92 times in every book? If readers can get over the constant regurgitation of info, there are some gems of wisdom to be found in Rich Dad's books. He's actually piqued my curiosity about economics and the federal banking system. I know...Crazy!

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Feb 22, 2012 Clay rated it 1 of 5 stars

I heard his original book was best, bust library only had this one available so I checked it out. It was written as an online book and then published. Reads like it. Anyway, overly repetitive, a few interesting tidbits but overall very little substance. Shamelessly self-promotes over and over and over again. Not worth your time.

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Apr 08, 2013 LeikHong Leow rated it 3 of 5 stars

Is a good read from Robert Kiyosaki, good concepts and examples given. Since he used many of the example listed on USA, but the moral of the story will apply worldwide.

In this book, it gave us a better prospective why the rich get richer and why 10% of people are controlling 90% of all the wealth.

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Feb 16, 2013 Anthony Tenaglier rated it 5 of 5 stars

Shelves: money-education

An excellent book. Despite it repeating many concepts from previous books Kiyosaki has written, it provides a foundation for the new 8 rules for thinking about money. These new rules are now posted on my office wall to constantly remind me that times have changed and are constantly changing.

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Sep 03, 2012 Trisha rated it 3 of 5 stars

There wasn't much new in this book that the author hasn't said in any of his other several books. While his books in general seem to be rather repetitive, this one was extremely repetitive between chapters. Still, the message is a good and through provoking one, but I wouldn't necessarily recommend this book to anyone who has read his others already. (But you can't blame him for trying to pump out more books, after all, it creates more derivatives for him!)

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Apr 15, 2011 Jose Yong rated it 4 of 5 stars

Shelves: business

Most of the books are hit, some are redundant from previous books.
Put special attention to the parts on the Federal Reserve and why the financial crisis happen.
Watch the documentary "Inside Job" after the book.
It did gave me a paradigm shift of my perception of what's happening, so it's worth the time to read this book

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Mar 13, 2012 Nick rated it 5 of 5 stars

Shelves: 2012-reads

Great book about all the benefits the rich have and poor people don't. Excellent read if you've already read Rich Dad, Poor Dad and want to apply these concepts to the current recession. ~NR

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Apr 13, 2011 Chris rated it 4 of 5 stars

Good read. If you've read other Kiyosaki books, much of this book is a rehash of his previous works, but it's still good and useful information with some new (and relatively current) data.

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Mar 10, 2012 JasonH rated it 2 of 5 stars

This book disappointed. While his books often have great tips this one just felt lacking. I suppose the franchise must continue on but this book could have been a third as long.

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Aug 15, 2010 Nicolas Ramirez rated it 4 of 5 stars

Enlightening.

Lo recomiendo ampliamente. Irán desde la frustración (la realidad del dinero y el robo/fraude del cual todos somos víctimas todo el tiempo) hasta la reflección.
2.

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Apr 27, 2013 Keala Boyne rated it 1 of 5 stars

I was curious. He makes it sound too easy. Not for the timid, but interesting to see what our financial options are and that we can take bolder steps to survive this nightmare economy.

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Jul 07, 2010 Jeremy rated it 4 of 5 stars

Though "Rich Dad"(Kiyosaki) is a fraud and using bad times to manipulate, this book details why there are so many horrible things happening economically in the world.

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Dec 05, 2009 Bill rated it 2 of 5 stars

There are about 10 pages in this book worth reading. The rest is like an infomercial that promises interesting information right after the next commercial break.

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Dec 11, 2012 Abhishek Kumar rated it 5 of 5 stars

Excellent Book .not as good as rich dad's previous version bt fits the bill

loved d way story hs been created around money sans any nonsense

recommended

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Aug 21, 2011 Richard rated it 4 of 5 stars

I bought this book on impulse at the bus station bookstore because my phone was dead, and I needed something to read for the long ride. I have a love/hate relationship with these types of self-help books, but this one inspired me, and I expect it will have a significant impact on at least my short term behavior as I'm coming to a major crossroads soon. The impetus behind the content of the book is a bit demoralizing (the imminent demise of the US economy), but the ideas and spirit of the book ar...more

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About Robert T. Kiyosaki

Kiyosaki is best known for his book Rich Dad, Poor Dad, the #1 New York Times bestseller. Kiyosaki followed with Rich Dad's CASHFLOW Quadrant and Rich Dad's Guide to Investing. He has now had at least a dozen books published. A partial list of his books is included below

More about Robert T. Kiyosaki...

Books by Robert T. Kiyosaki

Cashflow Quadrant: Rich Dad's Guide to Financial Freedom

Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!

Rich Dad's Retire Young, Retire Rich (Rich Dad)

The Business School For People Who Like Helping People

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