Sharon L. Lechter

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki reviewed 3/30/22.

Why I picked this book up: Since downloading TikTok and watching people make money on the internet, learning the importance of multi-sources of income and an ad for this book I excitedly picked it up.

Thoughts: Overall I really enjoyed this book. I used to get paid well, I always worked, put money away, paid bills, had fun but never really learned how to show more use money as a resource to help build wealth. This book was fun to read, he learned from childhood about money from different perspectives, what to do with money and how to utilize finances. I now see it is possible, wish I learned earlier and want to pass this knowledge onto my children.

Why I finished this read: I took this as a self help book and found it useful, enjoyable and relatable to my life.

Stars rating: 4.5/5 stars. I can learn more about this. show less

One of the best books I’ve read on investing. I was sceptic at first and pleasently surprised at the end. I’ve read the critics and I have to say this: it’s all just bad-mouthing, because it goes against some common held beliefs. A house is not an asset if you pay mortgage, he DOES give practical advice on how to move and earn money, he DOES argue that keeping your job is fundamental, he DOES argue that education and THE MIND is your most powerful asset, he DOES argue that paying and show more abiding the law is fairplay, etc. He only suggests that within the context that you have ( government, market, job, etc. ) you play everything with intelligence, that means fostering your finance/legal/market iq, which is creativity at it’s best.

Not speaking of the other book references he mentions along the way, most of which are pure gold. show less

This was suggested to me by my Finical Coach quite a few months ago. I finally got around to getting the abridged audio book version. I really wish I had got a full version because the info was good. Kiyosaki is even tougher than Dave Ramsey. I think its a good complement to Ramsey as without Dave's direction of getting out of debt, Kiyosaki's direction on investing and ensuring you don't work for money would seem out of reach. I'm still not clear on how I'm going to get there but I am at show more least motivated in hand.

Kiyosaki's poor dad isn't someone I would call poor. He's his real dad. An educated teacher, and later administrator, working in the public school system. Poor Dad, like me, didn't want to make money, because rich people are evil. His Rich Dad is his friend Mike's Dad who taught him how to get money to work for him, not lecturing but by making him work for nothing. Starting with a story about how to make money where young Robert and Mike counterfeit nickels out of old lead toothpaste tubes. Mike's Rich dad says that having no money is the root of all evil because it is what makes people do stupid things. The more money poor dad made, the less he is at home (this has been me as of late) while the more money rich dad made, the more he was home with family. This is something that is worth working for. I'm still scared of risk. When I still struggle to pay bills its hard to think past the end of the month, but I'll make it. I really will. show less

"A mindset shift more than a manual."

This book completely changed how I think about money. The comparison between "Rich Dad" and "Poor Dad" really stuck with me—especially the idea of making money work for you instead of just working for money. The concepts about assets vs. liabilities were eye-opening, even if some of the examples felt a bit vague or repetitive.

It's not a step-by-step guide, and some of the advice is definitely more motivational than practical, but for someone just show more starting their financial journey (like me), it’s a great introduction. It’s the book that made me want to learn more—and that's a win in my eyes.

Would recommend to anyone who’s ready to start thinking differently about wealth. show less