Robert Kiyosaki is one name that requires no introduction. As one of the biggest names in the entrepreneurship world, his reputation speaks for himself.
Everyone seems to have a different opinion about this man according to Quora, but there’s no denying the fact that he’s incredibly successful. Education and public speaking are his obvious strengths, and thousands of people have attended his seminars or purchased his learning products on Amazon over the years. Many people have benefited from his teachings.
One of the most interesting things about Robert Kiyosaki is that he targets people of all types, ages, and backgrounds. He’s even created video games that educate kids and adults about financial concepts. If you want to wrap your head around some difficult concepts in this complex industry, Robert Kiyosaki offers some of the best learning resources out there. He’s made financial knowledge simple, fun, and easily accessible by just about anyone.
But sometimes, for a truly valuable educational experience, we have to go back to the basics. Instead of learning using software, it pays to read good old-fashioned books. And Robert Kiyosaki has created one of the most popular and successful book series in the world – Rich Dad Poor Dad. This series has sold a whopping 27 million copies all over the globe, and it’s been translated into 51 different languages.
Let’s be honest – an author can’t reach those kinds of numbers without having written an interesting book. And that’s exactly what Rich Dad Poor Dad is. But for newcomers to the series, the book can seem like a bit of a mystery. Even if millions of people all over the world love it, how can you be sure that you’ll enjoy it? More importantly, how do you know you’ll actually benefit from it?
After reading this extensive review, we hope all those questions and more will be answered. We’re about to take a deep dive into this book, and figure out what it’s all about. You’ll get all that facts, and then it’ll be up to you to make up your own mind. It’s definitely a book PDF that a lot of people are thinking about purchasing… So we hope to make your decision even easier…
Rich Dad Poor Dad – An Introduction
The first thing you need to realize about this book is that it really creates a lot of division among critics. Some people love it, while others completely hate it. Some people read it over and over again, absorbing as much knowledge from the book as possible. Others don’t really seem to understand what the book is trying to teach them. Every book has its fair share of critics, and Rich Dad Poor Dad is no different. But we can safely say that what Robert Kiyosaki was trying to do when he wrote this book was to inspire people.
And when you read this book, you might also feel that spark. It’s definitely designed to get everyone excited about the world of business – even those who have no entrepreneurial experience whatsoever. That is why the book succeeds, but it’s also why it fails. The average person becomes excited with the “how-to guide” that the book seems to contain, but fails to realize that the steps cannot really be applied in the real world. Some would say that the book contains teachings which are dangerously close to “get rich quick” schemes.
At its very core, Rich Dad Poor Dad is trying to help its readers redefine the term “asset.” In Robert Kiyosaki’s point of view, an asset is only something that actually generates income and cash flow. According to that definition, your house would not be considered an asset, for example. The book’s lessons are presented almost like a story, and they draw the reader in.
Robert Kiyosaki’s Six Lessons
So what kind of lessons will you find in this book? Robert Kiyosaki stresses 6 core lessons as the basis of Rich Dad Poor Dad. How did Robert learn these lessons? As the title suggests, the teachings come from a comparison between a rich dad and a poor dad. The “rich dad” was actually someone that Robert knew when he was growing up – a guy who owned multiple businesses. The “poor dad” was actually Robert’s own father. Throughout the book, the reader learns from the successes of the rich dad, while also learning from the mistakes of the poor dad. It’s an effective way to contrast good financial decisions and bad ones, and it shows us that a good plan can make a huge difference.
The first lesson that you’ll learn in Rich Dad Poor Dad is that “The Rich Don’t Work For Money.” This simple lesson can be interpreted in many different ways – although only one is truly correct. Robert Kiyosaki isn’t saying that rich people don’t do any real work. What he’s saying is that rich people don’t work towards an end goal of putting a few extra dollars in their bank account at the end of each day. Instead, rich people work towards learning new lessons and methods to make an infinite amount of money – to the point where money is no longer an issue for them.
Their goal is not a higher wage. Their goal is a business that will make wages obsolete in their own life. Passive, recurring income might sound like a lazy person’s dream, but that’s a bit of a misconception. Setting up a good cash flow actually takes an incredible amount of hard work, risk, and initial investment. Essentially, you are deciding not to pursue the “safe” option of a dependable wage every day, and instead pursuing a business venture that doesn’t guarantee you anything. But in the end, we all know who ends up being richer.
Robert Kiyosaki also explores the definition of wealth in this section of the book. When he talks about his “rich dad,” he never fails to mention how careful the man is with his money. The rich dad doesn’t spend his money on sports cars or mansions. The most important thing about being rich isn’t material possessions, but reaching a point where money is no longer a concern. Of all the sections of the book, this one generally receives the most praise – even among those who criticize the book as a whole. This is a lesson that rings true with a lot of people, and it does a great job of hooking us in with the first few chapters.
While the first section of the book entices us and reels us in, the second lesson raises some serious questions. This is the section of the book which causes a lot of division among readers, and it’s a massive source of criticism. It all stems from Robert Kiyosaki’s insistence on completely redefining the term “asset.” The title of this lesson is: “Why Teach Financial Literacy?” As previously mentioned, Robert Kiyosaki maintains that we can only consider something an asset if it provides a source of income.
In addition, he also redefines the term “liability,” to some extent. According to Kiyosaki, a liability is anything that a net cost associated with it. This is why in the world of Rich Dad Poor Dad, your home cannot be considered an asset. On the other hand, income from a rental property can be considered an asset.
Now that we understand what Robert Kiyosaki is truly talking about when he uses these two terms, we know what he means when he talks about wealth. According to him, the only real way to become rich is to acquire as many of these “assets” as possible. Intellectual property is a prime example of one of these assets because it costs nothing and it can potentially earn you millions (if not billions) of dollars.
Some people do not agree with Robert Kiyosaki’s definition of “assets” and “liabilities,” and that’s where the criticism comes from. Kiyosaki is trying to simplify his own core beliefs and create clear rules for his readers to follow. But the concern is that he might be missing great financial lessons that do not fit in with his rules, or his established definitions of these key terms. These are valid concerns, to say the least.
The third section is a breath of fresh air. Robert Kiyosaki goes over a lesson that almost everyone can agree with, and this is “Mind Your Own Business.” What Robert means by this is simple. You need to run your personal life as if you’re running a fully functioning business. That means watching your expenses, budgeting everything correctly, and generally being intelligent with your money.
Going one step further, this lesson encourages readers to invest their money instead of spending it. This sounds like an obvious rule to follow, but you’d be surprised how many people live paycheck to paycheck these days. It’s not necessarily because they’re poor, but rather because they’ve become accustomed to a lifestyle they cannot afford. Robert Kiyosaki that instead of blowing our paycheck as soon as we receive it, we should be investing that money. If we invest in an intelligent way, we end up having more money to spend on the things we want. It’s a simple lesson, and it’s a very old one, but a brilliant one nonetheless.
In the eyes of many readers, this is where the book starts to descend into a downward spiral. Despite having set a very solid foundation in the earlier lessons, this section begins to deal with strange, vague notions that are honestly counter-intuitive. This lesson is called “The History Of Taxes And The Power Of Corporations.” It’s counter-intuitive because it seems to contradict a lot of the lessons that Robert Kiyosaki previously discussed. In this section, he entices the reader with promises of Porsches and other luxury items. But these are exactly the same things we warned not to buy in the previous chapters…
Even worse, a lot of the tactics Robert discusses in this article border on being completely illegal. He boasts of an extensive knowledge of the tax system and gives the reader the “secrets” of using certain tax loopholes. A lot of these loopholes involve things like writing off Porsches as company expenses. The problem here is that the IRS and other revenue services are well aware of such schemes. They know that a Porsche is not a necessary business expense. This is just one example of a tax loophole that Kiyosaki sells the reader, and these are all likely to get someone in serious trouble.
It all sounds great, and it gives the reader the impression that Robert Kiyosaki is a corporate guru that clearly knows what he’s talking about. But a large portion of his tax dodging schemes are actually not very intelligent – or at least not in the eyes of several critics of the book. These critics insist that the IRS will not fall for these simple schemes. One thing is definitely true – the tax man is not stupid.
In this section, Robert Kiyosaki seems to be suggesting that starting a corporation will reap all kinds of tax benefits. According to him, these benefits include writing off Porsches and keeping your assets inside a corporate structure. But this system only works if you’re declaring reasonable expenses, not Porsches. In addition, most of the tax dodges he discusses will only delay the tax bills, not eliminate them. Once again, this book gives off the slight stench of a “get rich scheme.”
In the fifth lesson of the book, Robert Kiyosaki pulls us even deeper into his world of incredible success and wealth. This begins with yet another story of how he seems to have “played the system” by making $40,000 in a real estate real that took him 5 hours to complete. This ties in with the title of the lesson, which is “The Rich Invent Money.” Making that much money in such a short span of time is impressive, without a doubt. But how realistic is this, really?
Let’s try to figure out exactly what Robert Kiyosaki is saying in this section. The lesson here is that rich people know how to “invent” money, seemingly out of thin air. Again, many readers feel as though they are being sold a “get rich quick” scheme as this point. The example he uses is also interesting. He made $40,000 by going to a courthouse and finding a great deal in a sheriff’s price sale, but these are quite rare occurrences. In addition, the real estate companies often have far better insider information than the average person.
So how good of an example was this to use? At first glance, it’s a great story about how a savvy businessman swooped in and made a small fortune due to his foresight and intelligence. But if we take a closer look, we realize that it’s not a lesson that can be replicated in the real world. How does the reader go out and do something like this in their own life?
Perhaps that was the wrong example to use, but the lesson is a good one at its core. Rich people do in fact “invent” money, but not in such a spectacular and flashy way. In reality, these are usually much more simple methods such as creating intellectual property, creating digital products online, or exploring an untapped niche market. There really wasn’t any need to sensationalize this lesson with a crazy story.
This is perhaps the most misguided lesson in the entire book. In Robert Kiyosaki’s eagerness to inspire his readers, he ends up denigrating and dehumanizing the majority of the population, referring to them as mindless “hamsters.” In his eyes, those who choose to be employed and earn an honest wage are unworthy and wasting their lives.
It almost seems as if Robert Kiyosaki is influenced by the resentment of his own father, the “poor dad.” His father chose to earn an honest living by having a normal job, and that perhaps that made him less of a man in Kiyosaki’s eyes. Of course, this is all speculation, but Kiyosaki does seem to be some seriously misguided attempts to create division between “us” and “them.” This carries with it a slight undercurrent of resentment.
Not only is this a terrible way to look at other people, but it’s also a pretty inefficient business strategy. Entrepreneurs should be able to relate to common people – how else are they going to anticipate their needs and create a product that people want? Furthermore, working for a good company can be worth its weight in gold in terms of education. There are countless millionaires who have been loyal employees in the past. Many still are.
The Rest Of The Book
The rest of the book tries to find ways to apply these lessons to real life situations. It’s great that Robert Kiyosaki makes an attempt to do this, but he doesn’t really do enough to give his readers a clear path towards success. The fact that this book lacks any way to apply the often vague lessons Kiyosaki outlines is one of the main criticisms people have.
Instead of a solid, applicable guide, Rich Dad Poor Dad includes a variety of personal productivity tips that are sometimes completely unrelated to the previous six lessons outlined in the book.
Overcoming Obstacles is the first section where Robert Kiyosaki attempts to apply his core lessons to the real world. But the main problem here is that this essay is purely psychological. It does not deal with the real world, and instead focuses on mental obstacles such as fear and laziness. Don’t get us wrong – these are very real obstacles that every entrepreneur has to overcome. The problem is that readers still aren’t being given a clear lesson on how to create assets and become a “rich dad.”
Personal Productivity Tips
The next section of this book is called Getting Started, and it’s obviously an effort to inspire the reader to finally put their plans into motion. Again, it’s a great notion but it has no end result that the reader can latch onto. Personal productivity tips are useful, but what about the path to wealth that we were promised? In the end, instead of telling us what to do, Robert Kiyosaki tells us what not to do. The reader is expected to know their own way to wealth, but Kiyosaki warns us not to waste our money on personal spending or leave it in an account.
The final few chapters still don’t leave the reader with a clear path towards success. Instead, Robert Kiyosaki tries to convince us to attend seminars, read more books, and essentially spend more money on education.
So what’s the final verdict on this book? There are undeniably useful lessons and philosophies found within its pages, that’s for sure. In summary, the book teaches readers to save their money, and try their best to find assets which represent recurrent revenue streams. The end goal is to become financially independent and replace wages with smart investments. There’s really nothing wrong with this idea, and it’s a great goal for any person these days.
The problem is that Rich Dad Poor Dad doesn’t actually involve a clear path towards that end goal. What it does have is several examples of successes which seem way too easy. These examples are also very hard to replicate in a normal, average life. Don’t get us wrong, these stories are very inspiring. But we find ourselves asking how we’re actually supposed to do any of these things… And we never really get a clear answer.
The worst part of this book is the resentful undertone that starts to rear its ugly head as the reader progresses through the chapters. It’s very hard to learn from someone who so obviously looks down upon wage earners. After all, the majority of people reading this book are probably going to be employed… Is insulting your students an efficient means of education? Probably not.
How much of this book is a legitimate attempt at education, and how much of it is an attempt to inflate Kiyosaki’s own ego? It’s hard to tell sometimes, especially with the constant success stories from his own life that he uses as examples. We could deal with them if they actually had an applicable lesson at the end. But they don’t.
In conclusion, this book is honestly a pretty great source of inspiration. Reading about Kiyosaki’s exploits might be exactly what you need in order to spur yourself into action. It also offers some general tips for financial success and productivity, which are extremely useful at their core. But the deeper Kiyosaki gets into the specifics, the more disconnected he becomes from the reader and the real world in general. Just don’t expect it to tell you how to get out there and start making real money.
When I was in a 9 to 5 job, I know that I need to find a way to find opportunities online. A business that is scalable and can give me the financial freedom that I want. That’s when I discover this local lead generation coaching program.
I learned different things but most importantly, I learned I high income skill that let me earn 6 figure income by building multiple lead gen sites that use free traffic
Take a look at my very first lead gen that I built last 2014. I haven’t touched that ever since but it keeps earning $750 per month on autopilot
If you want to go out there and make real money, then, you should check out our elite local lead generation coaching program.
You will learn a step by step procedure to build these digital properties that generate leads with free traffic and earn over 6 figures and beyond this 2019.