Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not
By Robert Kiyosaki
Paperback: 274 pages; Publisher: Plata Publishing, LLC (2011); Language: English; ISBN-13: 978-1612680019
Rich Dad Poor Dad, the #1 Personal Finance book of all time, tells the story of Robert Kiyosaki and his two dads—his real father and the father of his best friend, his rich dad—and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
For the most part, it seems that people either love or hate the book and now having read it, I think I understand why. Most likely it seems that it depends on your personal situation and knowledge prior to reading the book. I think that if you were someone who was just making ends meet, using all of your salary to support your lifestyle (in Kiyosakian parlance, buying "liabilities") and doing little to save and invest (buying "assets"), I can see that this book might serve as a wake up call and can inspire and motivate people to look for ways to possibly change their situation. Furthermore, the book's various claims, (however misleading or unrealistic as I point out below) plays right into such people's desires to learn the "secret of success" of the rich that if only they knew, they could quit (or abandon their plans) to go to school, quit their jobs and just invest and live off of investments the rest of their lives without working.
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