I’ve had this book for a while now and I just never got a chance to read it. The book I’m talking about is Rich Dad Poor Dad by Robert Kiyosaki. according to the book’s cover it’s been a number one seller in a highly acclaimed book. Well, I read it from cover to cover and then I researched these concepts, the book and the author online.
What I came away with is that this book is a decent primer on learning to work for oneself rather than for others. But that is not a new concept it’s been around since the dawn of time. Business owners as a rule generally always made more money and fared better than any other occupation.
In the book, Rich Dad Poor Dad, Robert Kiyosaki uses a story of two boys (one of whih is himself) growing up and desiring for better. finally the boys end up getting advice from the Rich dad which was supposedly Robert Kiyosaki’s friend’s father. Later on by researching the Internet I found out that this was not true and no one has been able to find out the whereabouts or any information on this rich friend or his father.
So it is a fictional piece then, but it is still entertaining and it does open oneself up to the basic concepts and importance of working for one’s self. It is a good primer and motivational book for people that are working paycheck to paycheck and wish to attain greater wealth. There are better books out there like The Millionaire Next Door which are based on actual fact and some lengthy research, but nonetheless Rich Dad Poor Dad does serve a purpose – informing the masses that prosperity and wealth can be attained.
That’s right wealth can be attained but what people don’t understand or can’t comprehend is it takes dogged determination, learning to live below one’s means, abstaining from trying to impress others and buying luxury goods, and learning the power of getting your money to work for you and learning about compound interest.
That sounds like a lot and it is. It is hard nowadays for even those with high income to deal to break away from the norms of society and live well below their means so they can be able to put their money to work for them. Too many people nowadays are more interested in driving a car that is way above their means to try and impress others. This is a horrible investment. You are buying a depreciating asset at top dollar plus because you can’t pay cash for and have to take a loan out on it are also paying interest on that, higher car insurance and higher property taxes – a horrible deal all the way around.
What if instead for few years instead of driving that Mercedes Benz you drove a Honda Accord or Ford Taurus and a used one at that? You could easily take the savings input that work for you in investments, real estate, or even a business venture of your own. the difference here is that with the Mercedes-Benz in several years time you’re left with a car that at last one third of its value new. The other route did you thousands and thousands of dollars to invest – and guess what? Those thousands and thousands of dollars will turn into thousands and thousands more dollars because they are invested.
As I said, the Rich Dad Poor Dad book by Robert Kiyosaki is a good to average fictional story with a couple of ideas thrown in about power of investing in real estate in other ideas and topics that the rich delve into. But it is just a primer. One cannot go out and start their own business based on this book and become wealthy. This is just a start just like 1st grade is just a start to an education. There’s a lot more reading and research one needs to do to be able to really take these ideas and create their own businesses and become wealthy from them.
Now I see that Robert Kiyosaki and his team are doing seminars all over the US trying to teach people how to become wealthy by using their system. It is not a cheap system and there’s a lot of DVDs and CDs that you need to purchase that’ll cost a lot of money and none of these will really prepare you for your own business. The Rich Dad Poor Dad book is not bad but definitely avoid the seminars. All they do is push their very expensive products and materials and none of these will make you wealthy or rich – the only person they will make rich is Robert Kiyosaki himself.