If you have ever asked anyone about a beginners book to learn about money, this is the book they would suggest. Even Google would thrust this onto your face if you drop in your search query. I’ve tried to focus on the book and also tried to learn about the things Robert talks about online as well and as an overall experience, I have learnt a lot from this book and have a few complaints (but not any that would deem this unreadable). I have written down the things you would have to be cautious of while reading this book in this review and also what you could take away as well.
If I were to review this book in one line, I would Say: Rich Dad, Poor Dad is a book that talks about financial literacy for beginners and build a mindset to become rich by a “Hard Love” kinda Dad.
The book begins with a comparison between the mindsets, beliefs, beginnings and end of Kiyosaki’s Poor Dad (his father) and his Rich Dad (a father of his classmate who became the wealthiest man in Hawaii). This was really helpful to understand what the book is about and what the author would be talking about in the book.
This book is motivational power horse and definitely gives you hope that you can also be rich. This book does a great job at speaking about the mindset and attitude the rich have towards money and wealth. After you close the book, you definitely can begin to understand and Think like the Rich.
But, this book falls short on any practical advice. Most of the advice in the book is unclear and doesn’t make it easy to work them out. Even though there is a chapter just about starting out to save for children’s education, it still is vague. One would have to read other books in order to learn or take the first steps in order to think like the Rich.
This book is definitely entertaining and one can finish this in a single read as well, but the book seems to have a few issues with it.
What I really liked about the book:
- Talking about the mindset to earn wealth, like the rich.
- Showing how to think of assets and liabilities.
- The section on different avenues to earn money.
- Understanding how laws work and use them to our advantage.
- generic motivation and help to seek things and know what is to be done and what not to
What I didn’t like about the book:
- If I want to apply his ideas, by the end of the book I still did not know where and how to start. Luckily, I read The Richest Man in Babylon and have been working on some skills, did I know and relate to what he says.
- A hard dad method, and borderline looks down upon most people.
- Some parts seemed to breach ethical lines. Robert talks about keeping Contingency clauses to back out in deals you make, which makes sense. He gives an example where his contingency clause is subject to Business partner’s approval which apparently is his cat. This example is ethically wrong, and if anyone wished to call his bluff could end up in a pickle. Such, examples made me wary to believe and take the examples seriously. I just tried to understand his point of view.
- To me I really just don’t like the “only when you do this, will you be rich”, and “If you aren’t rich, you aren’t worthy” attitude which is found almost everywhere in the book.
- The narration and examples seemed far fetched.
- Just as much as I loved the way he speaks of using the law to your advantage, you can find examples where he makes use of loopholes in the law which are morally, and ethically not right.
This is a book that is important as everyone needs to learn to think like the rich in order to be rich. The mindset is absolutely important.
If one is looking for a step by step practical advice, this book is not for you. But again, if you are just looking for advice, it is all the more evident that the mindset is not in the right space as “Making fast money” does not make one rich.
This sure is a book that people should read, but with extreme caution. One has to keep in mind that not everything is consistent in the book and after detailed examination of examples on the web, the examples in the book are once in a lifetime opportunities and are too good to be true. When you read this book, don’t read anything on face value. Always, always think twice if something makes sense or not. Try to understand what Robert wishes to tell, but do not go by the examples in all cases.
I Would Rate it:
You may also like: The Richest Man in Babylon by George S Clason
This being a book you must not read on face value, I have dropped a song for you which encompasses the overall feel of this book!
Until Next Time,
Stay Home, Stay Safe,
More Power To You