REVIEW Rich Dad Poor Dad: Robert Kiyosaki


I am kinda going through a management book-reading phase right now, got a whole list of books to read. I first picked up Rich Dad Poor Dad, and frankly speaking, I was bored halfway through it and managed to plough through with great difficulty. Kiyosaki encourages you to get up and get a hold on your finances, but doesn't give any concrete steps on how to do it.

Kiyosaki talks about his two dads: his real one who was a superintendent of education who worked hard his whole life yet died penniless, and his friend's father who dropped out of school yet ended up one of the richest men in Hawaii. Kiyosaki keeps harping on how people work for money, while what they should be doing is making money work for them. he talks about building assets so that cash inflow outstrips liabilities, but gives contradictory views on how to do it. For example, he talks about real estate being an asset, but fails to tell the reader how to raise the initial investment without being swamped by mortgages and loans. He advises you to start your own corporations, but doesn't touch on the ups and downs of starting out on your own. He says that putting all your money into one or two stocks is the way to go, while every financial expert worth his salt advises people to invest in multiple companies to reduce the risk. He doesn't address the problems of coping with debt, nor does he help you understand the basics of personal finance management. When he delivers his "pearls of wisdom", it sounds like he's talking down to you, saying that if are foolish enough to be poor, you'll be idiotic enough to buy the book (note: I read an ebook, and rued the time I wasted over it)

The book tries to stand on a couple of shaky theories and gets repititive, running circles around the same bush till your head spins. At the end of the book, I walked away with the feeling that to get rich, I had to start off by being rich.

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