Comments on: Book Review: Rich Dad, Poor Dad

By: joe

joe — Sun, 10 Jul 2011 20:53:59 +0000

The rich dad poor dad series of books are indeed excellent, but has anyone caught the new book “YOU HAVE A COLLEG DEGREE, NOW WHAT?”

Its an excellent new book and curious if anyone else had read it?

Joe

By: Breaking Free of the Cage: Escaping the Rat Race | Invest It Wisely

Breaking Free of the Cage: Escaping the Rat Race | Invest It Wisely — Wed, 21 Jul 2010 18:56:03 +0000

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By: uberVU - social comments

uberVU - social comments — Wed, 23 Dec 2009 01:08:11 +0000

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By: Roger

Roger — Mon, 21 Dec 2009 18:16:28 +0000

@Investor Junkie: There are some points he makes that are well worth making. I’ve read Reed’s page on Kiyosaki, and it does seem that ‘Rich Dad’ is more allegorical than real. As you say, the overall lessons are correct (it’s hard to argue with points about putting your money to work for you and expanding your financial literacy), but unfortunately (a) as you say, he doesn’t provide much in the way of details (I’ve hit all the prominent themes in just this short review, for example), and (b) where he does get into detail, he gets things wrong or speaks so broadly that it can give the reader the wrong impression.

As for the flak over his latest post, I read the article you linked to, and it does seem he is mostly in it for the controversy (although, it’s hardly the first time he’s attacked 401(k) plans). As with everything, there are good points and negatives to 401(k)s, and it would be nice if he made more acknowledgment of that point.

@Rich Dad Wisdom: That’s pretty much my biggest complaint; a little less folksy stories, a little more detail and supporting material, and I’d give the book a much more solid backing. Especially if you intend to rock common wisdom, you have to provide the detail for your assertions to stand up under pressure.

By: Rich Dad Wisdom

Rich Dad Wisdom — Mon, 21 Dec 2009 05:20:42 +0000

I do agree that the concept is a bit over simplistic. .-= Rich Dad Wisdom´s last blog ..Entrepreneurship – A Panacea For Job Insecurity? =-.

By: Investor Junkie

Investor Junkie — Mon, 21 Dec 2009 02:15:56 +0000

I overall like this book as it takes some traditional notions and flip them 180 degrees. While you are correct a lot of it is hyperbole. There is also the question if there is even a “Rich Dad”.

http://www.johntreed.com/Kiyosaki.html

Being a business owner and investor for over 10 years (I read this book AFTER being both), I can say the overall statements are correct. You will need to find other places to fill in the details.

Robert got flak for his latest Yahoo Post:

http://genxfinance.com/2009/12/03/robert-kiyosaki-is-off-his-rocker-again-is-the-401k-really-the-biggest-scam-ever/

While he created the post for marketing and to create controversy, there is some truth to his statements.
.-= Investor Junkie´s last blog ..Weekend Reading for December 19, 2009 =-.