Comments on: Rich Dad, Poor Dad: Revolutionizing Personal Finance

By: Zach

Zach — Wed, 01 Oct 2008 22:15:36 +0000

I’ve never read a book that used so many pages to tell so little. His story is inconsistent with very few facts, written in 7th grade prose; I struggled to finish it. Example: he states that your house is a liability. Wrong. Your mortgage is a liability, your house is an asset. If it was a liability, why does he claim to own so many. To date, no one has been able to find any record of him in any real estate transactions. Think thrice before you take advice from someone who recommends insider trading and claims that you pay 50% in taxes. The list goes on.

After reading this book, do you have a detailed action plan? Or have you just had a mentality shift? He leaves you with no clear path with which to follow. If you want a good basic financial book, start with The Total Money Makeover, by Dave Ramsey. He’ll spend less time bragging about his porshe and how he made millions by taking companies public and give you a very detailed, executable recipe to follow.

RDPD is a fraud, don’t waste your time. How can you believe someone who claims to have purchased stocks of companies and THEN taken them public, making millions in the coming months? Show me how to purchase a stock of a non-public company. . .

Good luck!

By: Brian Oates

Brian Oates — Wed, 17 Sep 2008 22:26:09 +0000

Blog Carnival: Business Books - September 17, 2008…

Welcome to the September 17, 2008 edition of business books.
Ned Carey presents What Should Be In Your Library? posted at Baltimore Real Estate Investing Blog
ElleAtDefiningSomeday presents It’s Your Ship: Management Techniques from the Best Dam…

By: Sherin

Sherin — Sun, 07 Sep 2008 13:42:13 +0000

Oh…. that is a classic review. This books itself known as the best financial planning guidance book for kids. You have mentioned all the important parts from the same to have a fast understanding. Nice work and keep it up.

wishes from Sherin - Investinternals
http://investinternals.blogspot.com

By: Jenna

Jenna — Sat, 06 Sep 2008 15:41:40 +0000

That is wonderful Stan!! I am hoping to get there myself in a few years. It’s really good to talk to someone who took Kiyosaki’s advice and ran with it, and really did get out of the rat race.

Thanks for sharing!

By: Stan Chatman

Stan Chatman — Sat, 06 Sep 2008 12:55:36 +0000

This book has open my mind and eyes. I can retire today or tommorrow if I want too.Today I am controlling my own life.I can live off my investments.I don’t own a house right now,however if I want to I can buy one in cash,and still be wealthy.

By: Jenna

Jenna — Mon, 01 Sep 2008 03:11:13 +0000

Matt,

Thanks for your comment I’m definitely interested in learning more about Kiyosaki’s methods, and you are right, many times the language puts people off of an otherwise simple topic.

By: Matt @ Steadfast Finances

Matt @ Steadfast Finances — Mon, 01 Sep 2008 02:53:40 +0000

Nice post, and glad you decided to read the book. I’m an independent trader/investor and lived by these rules ~ 10 years now. It definitely works if you allocate the time and effort required to managing money, problem is, most people don’t really know how to get started. Kiyosaki is a big fan of real estate and option investing rather than basic stocks. A topic we refer to as leverage, or basically using other people’s money. If you’re interested, I have a blog that covers many of these topics in basic language.