Your Monkey Librarian

I read books so you don't have to.

Sunday, December 17, 2006

Rich Dad, Poor Dad by Robert Kiyosaki

Here's a short and simple review: Don't buy this book. Just don't. If you know anyone susceptible to Amway type scams, do everything you can to prevent them from finding this book. Kiyosaki packages this information as motivational speaking. He talks about the ease of acquiring wealth. he talks about the importance of letting your money work for you. He mentions legal tax loopholes to help the rich get richer.
And in all of this, he mentions no specifics. Not one. Not a single real idea to help you increase your money. In the meantime, he suggests his father (the "poor" dad), struggled with money. In reality, his father was an impoirtant figure in the Hawaiian educational system. While he may not have been rich, it sounds like he did well for himself in a field he loved.
Kiyosaki mentions drifting from job to job as "gaining experience". He says failure hsould be embraced as a learning opportunity. The book is rife with contradictions, cliches and half truths about money, and dangerous ideas for those seeking to get rich quick.
Even worse, it's a tool for shameless self promotion: Buy the Kiyosaki board game for $150! Learned everything here? Buy the other EIGHTEEN books in the "Rich Dad" series. Log on to his website and hire a "Rich Dad" consultant...
Kiyosaki claims to make his money in real estate and stocks, but I think the primary (possibly sole) source of his working income is royalties form his book series.
The book did motivate me. I want to go out and find some decent books on financial advice.

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