Sunday, December 11, 2011
Rich Dad, Poor Dad
Rich Dad Poor Dad by Robert Kiyosaki presents many great points about how the rich people make money work for them and how everyone else works for money. The book does a great job on teaching how one should think about work and money. It has good real estate and business management advice, but I do not agree with how the book presents this information. Kiyosaki speaks as if investing in real estate and the stock market is a really easy thing to do, but your average person has virtually no experience in investing in the stock market or real estate. The biggest problem with this book is that it lacks actionable techniques, in other words it doesn’t tell people what to do.
One of my most favorite quotes in the book would be, “Most people never study the subject. They go to work, get their paycheck, balance their checkbooks, and that’s it. On top of that, they wonder why they have money problems. Few realize that it’s their lack of financial education that is the problem.” I like this particular quote because it distinguishes what the working class does compared to the wealthy. I would recommend this book as a way to challenge one’s thinking about work and money, but not as an educational book for tactical recommendations of financial strategies. Overall, I would rate this book as a 7 out of 10.