Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! description
Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed. --Howard Rothman |
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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! Customer Reviews
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♥♥♥♥♥ |
honor thy father - or sell his tomb?
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Going one step beyond Kirosaki's "dishonor thy father" hook, I offer this "modest proposal" for wealth maximization...
Some misinformed people have wrongfully believed their home to be a major asset; Kirosaki guides them to recognize it as a liability and unburden themselves.
Likewise, other misinformed people believe their children are also assets, when in fact, were they to unburden themselves of archaic attachments, they would realize that one can quickly earn millions by leaving work, quitting school, joining a cult, and auctioning off their children's kidneys. Hence, a liability oft mistaken for an asset could be recouped: kidneys today sell for upwards of $25,000 on certain markets, and most children it would seem have more kidneys than they need. Invested into a AAA rated jumbo mortgage bond with a proper derivative swap, one could multiply that into $750,000, which sum suffices for purchasing two or three repossessed homes (you might buy a Porsche while saving all this money...) Flip the properties, and you're looking at $1.5 million in leverage, which, invested in a few IPOs the day before they are offered and held by a Bahamas-based tax protected personal corporation, will propel you to billions...
Such is the famished claptrap realm of Kiyosaki's reasoning. It ought to be abhorrent.
From the simple premise of dishonoring one's father as a shock inducing revenue stream, through the notion of "get rich quick" by real estate trading and other network based schemes that overlook certain real world issues (risk? credit rating?), Kiyosaki mixes a few unquestionable platitudes that one ought to have learned in kindergarten (don't spend more than you make...) with a few unreasonable wealth strategies. In the process, he rendered himself wealthy.
Wealth, for a few, may indeed be obtained by breaching with obsolete principles like "honor thy father" as a hook - and by accepting the "new wine in old wineskins" notion that one can convert real estate into prosperity without risk. After all is said and done, hundreds of wealthy Wall Street traders will laugh off 2008 and beyond, while tens of thousands of people lose their homes.
Far as I'm concerned, it's the legions of "poor dad's" sweating and working and getting just a little bit ahead that make a nation wealthy. A handful of Kirosakis fleecing them that endanger this system I hold dear.
Two stars: one ought to skim even vile books as this and glimpse the lucrative potential of selling out one's family members for profit, and then toss it in the heap, kiss one's children good night, and send a loving email to Dad, whether poor or rich.
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