Robert Kiyosaki Reviewed

Unless you have been living under a rock the last few years, you have no doubt heard about Robert Kiyosaki's famous bestseller, Rich Dad, Poor Dad. In addition to this smash bestseller, Robert Kiyosaki has written a dozen or so other books, covering topics such as real estate investing, small businesses, and taxes, but without a doubt, Rich Dad, Poor Dad is still his best known book.

I should say at the outset that Rich Dad, Poor Dad is not a step-by-step guide on how to get rich. Rather, it is a book about how to think about money. The emphasis is on the philosophy behind being rich, and how to structure your life in a way that maximizes your chances of attaining wealth. There is no specific information on how to buy real estate cheap, how to invest in stocks, etc. If you are looking for specific how-to information, you will need to look elsewhere.

Having said that, Robert Kiyosaki tells an engaging story where, in a nutshell, he discusses his poor dad (his biological father), and contrasts him to his rich dad (his friend's father). The difference between the two is not in their natural talent or intelligence, but the way they think. It is this point that is emphasized repeatedly in the book. So after reading it, you may not have specific money-making techniques, but you will have something much more important: A new way of looking at money.

One of the recurring ideas in the book is how you must acquire assets and minimize liabilities to gain wealth. Robert Kiyosaki's definition of an asset is something other than a job that brings in money (examples are real estate, stocks, etc). A liability is anything that takes money out of your pocket. (Strangely, a house is considered a liability since each month, you must pay money out of your pocket to cover the mortgage). This actually does not comport with a lot of what I learned from accounting or finance classes. But overall, I think it makes sense.

So how did Robert Kiyosaki himself get rich? Mostly through buying real estate foreclosures, which Kiyosaki admits in his book is much harder to do today with the increased competition. That doesn't mean his philosophy of making money is now invalid. Robert Kiyosaki emphasizes that if you understand how money works, you will always be able to spot new opportunities.

Even if you already think the way the Rich Dad did, Robert Kiyosaki's books are still a very interesting and inspiring read. If you think like the Poor Dad, then this book will definitely open your eyes to a different way of thinking.

I have purchased other Robert Kiyosaki products, like Own Your Own Corporation and Guide to Investing, and found them valuable as well.

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