Wednesday, December 7, 2011

Book Review: Rich Dad Poor Dad by Robert T. Kiyosaki

Robert Kiyosaki Book
Sub Title: What the rich teach their kids about money - that the poor and middle class do not!
Author: Robert T. Kiyosaki 
Book Category: Finance / Inspirational
Book Format: Mass Market Paperback 
Number of Pages: 274 pages
Publisher: Perseus Distribution 
Publication Date: August 16, 2011
Language: English
ISBN-10: 1612680011
ISBN-13: 978-1612680019
Local Store Availability: National Book Store (Philippines)

I remember a couple of months back, a friend of mine who is engaged to business networking invited me to Rich Dad Poor Dad Seminar. I bewildered the title of the seminar. Rich Dad? Poor Dad? My friend told me that it will be conduct by Robert T Kiyosaki and added that the author is co-related with Donal Trump. Blah! I'm not excited. I just declined his invitation. Lately, just last week, I still remember the date - November 30, 2011; my office mate came in with a book. I arouse. I arouse when I see book(s). I checked, the name in the book was familiar. Aha! That Rich Poor Dad guy! Mark not his real name but a common name told me that the book will let me realize something. I was intrigued. The following day, I borrowed the book and read . . .

Book Review:

There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.
- Robert T. Kiyosaki, Rich Dad Poor Dad, pg.5
The quoted text strike me as I read the first chapter of the book. Kiyosaki tell the story of Poor Dad and Rich Dad. And how people ended with fixated fate and why the same fate was like a wheel inherited by the next generation of poor, middle, and also including the rich class. I learned in the first or in the second chapter that 'don't let oneself work for money but the money should work for us'. It's amusing to learn his point but how? Well, that's where you need to borrow or buy the book to learn or realize how!

Kiyosaki also mentioned that people's lives are forever controlled by two emotions which is fear and greed. I say, can he include love because people are crazy when love comes. I'm just tripping, just skip this paragraph.

Finishing the first through the third chapter, the book made me think of a business that can generate money even if you are not physically there as his rich dad says that great opportunities are not seen with our eyes, they're seen with our mind. Sounds good right? Hmmm, yeah and I already made one and will just keep it to myself whatever it is.

Second thing that strikes me, relating to graduates with finished professional degree in college. Entering the world of work, that's the start that we mind other's business, not minding our own business. We start working with earned profession. That's working for others. The "others" who get the intelligent people to work for them. For them to get rich. TRUE.

The mid part of the book slow my excitement on reading it because I'm not versed with the subject as he was giving an example about doing money in Real Estate business. He also added his game thing called Robert Kiyosaki Cashflow. But lastly, the strategy in his example may apply to my field. And along chapters are about asset and liability. It will be too long to tackle about them and take the purpose of buying or borrowing the book.

Cashflow by Robert Kiyosaki also known as Rich Dad Poor Dad Game. Nah! Nice marketing.

My conclusion - it boost my financial IQ, a little. It slightly develop my financial literacy after inspired by his fruitful quotes. It's a mind opener to financial literacy. It actually take me to study money now than ever before (this is not overrated). The example may applied to your profession or it may not. And it's not a Google rumored Robert Kiyosaki Scam or Robert Kiyosaki Fraud. He's just showing an inspiration here not that he wants you to go for a Real Estate business. Buy the book if you were intrigued with my review and became interested.

Some of Robert Kiyosaki books I found in (looks interesting):