ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Book Review: Rich Dad Poor Dad by Robert T. Kiyosaki

Updated on May 19, 2013

Rich Dad Poor Dad

During reading a great book, you have two opposite feelings, the first one is that you are enjoying reading it & you do not want it to finish. The second feeling is that you want it to finish, so you make sure that you get every detail in it. Really, I was blaming myself for delaying reading this book, although I heard about it a year back from one of my friends.

The Book which I am speaking about is “Rich Dad Poor Dad” written by Robert T. Kiyosaki, who has proved in this book that he writes to share a real knowledge he has got through long years of studying, thinking, trading, doing business, failing & sure achieving a great financial freedom.

Robert’s unique experience is that he has two fathers, (Real one who is highly educated but poor (Poor Dad), and his friend’s father who is the (Rich Dad). He was able to experience how the low financial intelligence of his poor father, made him just works for the money whole his life. The rich dad on the other side understands that he should make the money works for him. They both have a very different mind, for example: One dad would say, "The love of money is the root of all evil." The other, "The lack of money is the root of all evil." One dad had a habit of saying, "I can't afford it." The other dad forbade those words to be used. He insisted I say, "How can I afford it?" One is a statement, and the other is a question.

Source

Some of the lessons I learned as I understand

  • Everyone could be rich, the money is an idea & every one could make it real.
  • I should do my work for my employer the best way I can, but I have to keep in my mind that I have to have my own business.
  • Education is the best investment you can spend your money for. But you have to take action, do test it yourself.
  • My house, which I am living in, is not an asset. Because assets generate money, not let me spend money, like paying maintenance, tax & mortgage, so it is a liability.
  • I should pay myself first, so by saving from my work income, I could have a little capital to start by own business.
  • I should not by luxuries from the money I work for, I should wait till the time I make my money works for me, and then it will bring me luxuries.
  • I am responsible of teaching my children the importance of money, because simply, schools do not do that.
  • Educating myself, for the purpose of working for a good company in a good position, is not a wise decision. This will put me in the rat race, get up morning, go to work, wait for the paycheck, and pay due bills and so on.
  • Mostly, poor people wait patiently for the promotion and when they get it, they just consume more on things maybe they do not need.
  • There are many people who build empires from scratch, so I can do also.
  • Self-discipline is a very important to get financial freedom. You should believe that every decision of spending your hard earned dollars is, actually, a decision of being a poor, middle class or rich.
  • You have to pay well to the professionals who work for you like share brokers or real estate agents. If you do your best to cut their commissions, how come they will do their best to give you their best deals & information?
  • It is not important what do you know now. It’s a very fast changing world. It is important how fast you could learn new things.
  • Do not listen to people who just know to say “play it safe.” you have to accept the risk to get rich. This does not mean to throw your money blindly, but educate yourself, read, attend courses, ask who did it before, and take action.
  • If you give 100 people $10000 each, 80% percent of them will be suffering more after one year. Because they purchase many things on credit by making down payment, then they have to struggle to pay the loans.
  • It is OK to like luxuries, it is OK to buy them, just postponed that till you, really, could afford it.

Source

Did you enjoy the book review?

See results

Some quotations from the book

  • “Our staggering national debt is due in large part to highly educated politicians and government officials making financial decisions with little or no training on the subject of money.”
  • “One dad said, "The reason I'm not rich is because I have you kids." The other said, "The reason I must be rich is because I have you kids."
  • “Money comes and goes, but if you have the education about how money works, you gain power over it and can begin building wealth.”
  • “Being able to know when to make quick decisions is an important skill.”
  • “Most people want everyone else in the world to change but themselves.”
  • "The poor and the middle class work for money." "The rich have money work for them."
  • “They think that more money will solve the problem. Few realize that it's their lack of financial education that is the problem."
  • “I know people who have millions who are more afraid now than when they were poor.”
  • "The main cause of poverty or financial struggle is fear and ignorance, not the economy or the government or the rich.”
  • “The best part was that our business generated money for us, even when we weren't physically there. Our money worked for us.”
  • “Accounting is possibly the most boring subject in the world. It also could be the most confusing. But if you want to be rich, long term, it could be the most important subject.”
  • "Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets"
  • "If you want to be rich, you've got to read and understand numbers."
  • “If your pattern is to spend everything you get, most likely an increase in cash will just result in an increase in spending.”
  • “The philosophy that a pay raise means you can buy a larger home or spend more is the foundation of today's debt-ridden society.”
  • I am sure if you read the book you will enhance your financial intelligence, so you can get better life. Although I am a professional accountant, this book was great & let me understand many things better way.

Robert Teaches

Comments

    0 of 8192 characters used
    Post Comment

    • Taleb80 profile imageAUTHOR

      Taleb AlDris 

      5 years ago

      Thanks for stopping by & commenting.

    • Ingenira profile image

      Ingenira 

      5 years ago

      Good to read about the interesting facts you have summarized from this book.

    • Taleb80 profile imageAUTHOR

      Taleb AlDris 

      5 years ago

      Yes, happiness is a decision we take.

      I would like to add that Kiyosaki engorges every body to give other, educate them, & help them. I can say that although I did not like some of his ideas, I can find, from his writing style, that really he wants others to enjoy in the long term, not just to focus on the short term satisfaction. Thanks for your addition.

    • SidKemp profile image

      Sid Kemp 

      5 years ago from Boca Raton, Florida (near Miami and Palm Beach)

      Thanks, Taleb. I hope we get to know one another better. The major difference in focus between me and some of what Kiyosaki says is that he focuses on money for happiness, and I focus on happiness, with or without money, but also without the poverty consciousness that prevents it.

    • Taleb80 profile imageAUTHOR

      Taleb AlDris 

      5 years ago

      Whenever there is two things which are, totally, different, they catch our eyes as human being. so I think having two dads, who have two different financial point of views, helped Robert understand the topic more in depth.

      Thank you for introducing Joe Dominguez. He is new for me.

      Appreciate your encouraging words & votes.

    • SidKemp profile image

      Sid Kemp 

      5 years ago from Boca Raton, Florida (near Miami and Palm Beach)

      This is an excellent review of an important book. Great job! I was aware of Kiyosaki's work, but had not realized that he actually experienced the two dads in his own life. I thought they were a comparative construction to express his ideas.

      I never read the book because I learned similar lessons from Joe Dominguez in Your Money or Your Life in the previous generation. I don't agree with Kiyosaki completely. But he has a lot to offer a lot of people, and you're helping people find him. Good work! Voted up and useful.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)