Monday, March 30, 2015

Review: Rich Dad Poor Dad: What The Rich Teach Their Kids About Money - That The Poor And Middle Class Do Not! by Robert T. Kiyosaki


SUMMARY FROM NETGALLEY.COM:
Rich Dad Poor Dad, the #1 Personal Finance book of all time, tells the story of Robert Kiyosaki and his two dads—his real father and the father of his best friend, his rich dad—and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
MY TAKE:
I've seen copies of Rich Dad, Poor Dad at a local bookstore for years, but it wasn't until I saw it on NetGalley that I finally decided to give it a try.

In Rich Dad, Poor Dad, Robert Kiyosaki shares the things he learned from his rich dad (his friend's father, who is a successful businessman) and his poor dad (his real father, who is a teacher and worked for the government at one time), and how this can be applied in your life so you can break free from the Rat Race.

Honestly, I wish I had read this book before I finished high school. If I had, perhaps I'd have a more sizable nest egg and I had more investment experience and less fear about taking risks money-wise.

Some of the lessons and anecdotes he shares, while interesting and funny, can also seem harsh, especially if you've been taught all your life to be polite, get a good and stable job, etc. A few of the things he tries to teach readers may require a paradigm shift on your part, but if you're willing to at least consider what he sees, you'll see that he does make good points. One of the things I learned that I'll seriously try to put into action is actively looking for opportunities.

I also liked that he was able to discuss money matters in such an easy-to-understand way. Usually, books like this can get boring after awhile, but for the most part I was kept fascinated and entertained by his anecdotes and discussions.

It was nice to see that I had at least some of the skills he says one needs to have, and that I already understood and practice some of the things he says. However, I am only halfway or less than halfway there.

I don't think everything he says is easy to replicate, especially when you're in another country, since things may operate differently here. I do feel inspired, though, and I will make it my goal to practice most of what I've read here the rest of the year.

Thanks to NetGalley and Plata Publishing for the e-copy.

THE GOOD:

  1. It's quite inspiring.
  2. It forces you to think outside the box.
  3. You learn a lot about money and how you should approach making it.  

THE BAD:

  1. Some of his lessons and the phrasing he sometimes uses may feel a little harsh for some. 

READ IT IF:

  1. You want to retire early.
  2. You want your money to work for you.
  3. You want to break free from the Rat Race. 

RATING:
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Note: This post may contain Amazon affiliate links.

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