I had two dads; one rich and one poor
That is the opening line of the book. What do you expect after that? Something very third rate, vulgar and porno stuff? Then, you will be deceived 100%. This book is an exquisite piece of material, which every person should read before he begins to earn or becomes financially independent.
I have read this book about 4 years ago and almost every single concept Robert Kiyosaki says is still afresh in my mind. I read madanmohan review on this book (link at the end of the review). It excited me to write my own review on this book, which is one of my all time favorites.
What this book is not about
How to become a millionaire in a month … How to invest in stocks in the best way …. How savings can help your future … 101 simple ways to financial freedom …
The book has nothing of this sort.
Then, what is this book about?
The book narrates the story of Kiyosaki himself right from his childhood to this day, and along the way he teaches you how to handle Money. This book is an education in itself on how to go about handling your finances in the best possible way.
He takes examples of two persons: 1. Kiyosaki’s dad who was a man of principles and conventions. He believes that a regular salaried income is the best way to grow up, in terms of position and wealth. 2. Kiyosaki’s friend’s dad, who teaches him all that would be taught to you from the book, whom he considers as his second dad
Why this book is BRILLIANT?
There is no quick reference, or do this instructions. It is up to you to learn from it
Kiyosaki breaks all conventions. You might be surprised to see all that was told to you as good might not be that good in the author’s perspective
Would you have ever thought that owning a house is not an asset but a liability?
The book highlights what can go wrong with an equal importance against what can be best. For instance, throughout the book the author warns you against getting into the rat race, which is a kind of debt repayment cycle and struggle. Read the book to learn more.
It will teach you that being lazy cannot fetch money. This is evident when the author says, ‘if you don’t want to fix toilets, then you cannot expect profits’ about investing in Real estate investing
It is a no-nonsense book. It is very straight and practical. It will not give you highly energetic exaggerated encouragement that will boost your confidence to achieve the mission impossible. Instead, it will teach you things you can possibly do and possibly cannot
The author also gives advises on how to deal with your personal life when your finances are low. This does not suit only financial situations. You can apply it when you are down in confidence at any stage of your life and for any reason. I have read a dozen self help books too. Not a single book can match 20 pages of advice given by kiyosaki.
The language is in layman’s language. You will not find wall streets, stock quotes, P/E ratios and stuff
You: Do you mean to say there is nothing not-so-good in the book?
The book starts as though the author is narrating a story. The story dies and more of concepts come in as the book progresses. If you were looking for something light to read, but still learn, this book might disappoint. Also, whatever the author says cannot be used if you are really poor i.e. you just make money for three meals a day.
Signing off …
Human mind is just a strange thing that it sometime does exactly opposite to what you do not want to. I learnt so much from the book but I am doing exactly the opposite, that I might become a case-study for what not to do! It high time I re-read this book, so that I do not get into the rat race.
-Vinayak
(Please do RRC)
Madanmohan ’s review