Rich dad poor dad robert kiyosaki how to make money
Rich Dad, Poor Dad by Robert T. KiyosakiI bought this book on the recommendation of a client, and from page one I was feeling uncomfortable with it. I pushed aside the part of my mind that was shouting This guy is trashing highly educated people and the working poor! and I was able to actually become enthusiastic about the message of the book.
Here is the message of the book, and as far as I can tell, the only thing of value in its pages:
* When you own something, it is either putting money into your pockets, or taking money out of your pockets. Owning a business or earning royalties creates income. Owning a house and a car incurs expenses.
* Try to own things that put money in your pocket.
* If you rely on earning a wage or salary to put money in your pocket, you will be forever caught up in the vicious cycle of needing money, earning money and spending money.
There you go. Thats the big message this book will impart to you, and it will do it slowly and repetitively in the first three chapters, leaving the remainder of the book for the author to drone on and on about how turned $60,000 into $80,000 without ever going into specifics.
Early in the book the author lists royalties as a form of income. Later in the book he disparages a young writer who laments that she hasnt been discovered yet. He tells her to take courses in marketing, which horrifies her (as it would me). He goes on to explain that his best-selling books are best sellers because he knows how to market them.
I then saw the $10+ I dropped on this book as just another dollar in his pocket. He writes about 200 pages of repetitive, non-specific advice with only one interesting message (see above), and people line up to throw money at him because of a compelling title and a tough-love story. Towards the end, I felt embarassed to be seen with this book in public, just like Id feel for responding to a get rich quick spam mail.
The Ultimate Hypocrite: Robert Kiyosaki and His Company’s Bankruptcy
It used to be that the power to become a business that was built on systems—businesses that are representative of the B quadrant in the Cashflow Quadrant—rested with a few. The barrier to entry was high. It was expensive and risky. Of course, the payoff for success was big, which was many people tried. Unfortunately, many failed.
The Rich Dad message hasn’t and won’t change—but our methods will
We would play for hours exchanging four green houses for one red hotel. Buried in that simple formula is a powerful lesson, a lesson that has served me well throughout my adult life. That was one of the first, and most important, lessons in financial education I ever learned: the value of cash flow. You purchase a property and collect rents when someone lands on your property. In order to make money, much like in real life, you improve the value of your properties and eventually sell them. When you move on from single-family homes green houses and into larger properties like duplexes, 4-plexes, and, eventually, apartment complexes red hotels , you increase your cash flow.