Rich Dad Poor Dad

I just finished reading the book Rich Dad Poor Dad (Amazon Link). There’s lots of stuff to chew on in there. I didn’t get the impression of the book was about being one type of father or not, nor was it about being wealthy in the definition of “money out the wazoo.” Instead the real focus of the book was financial competancy. I disagreed with some of the author’s philosophy, but nothing severe enough to not recommend the book. In short my Christian worldview conflicted with some of his assertions, but over all the principles in the book seem sound and I’m really just left thinking about what I need to lear next. Not a bad place to end considering many books come across as having the answer. I definitely recommend this book and suggest that you give it a read through.

The book is very narrative and comes across more like you’re sitting at a table and your friend is sharing his life story with you rather than a list of ‘To Do’s.” Further, their is a recognition of your current situation. Rather than just saying that its time to jump out of your comfort zone and just do something he encourages readers to learn. I really like that. I’m ready to learn about lots of areas I know I’m weak in rather than just wallow in my inability. Being a self-starter type myself I found this book engaging because that is much of what the book talks about -> I’m not waiting for money to come to me, I’m not waiting to get filthy rich, I just want to take care of my family, my extended family as they get older, and be able to go visit relatives and take vacations to places I’ve never been. Oh, and it doesn’t recommend you leave your job, but be smarter with the money you make with your job.

One major focus is on assets. What assets do you have? I don’t really have any…yet. An asset generates revenue (by the author’s definition) where as a liability takes coninued resources. I’m going to have to look at my liabilities, see which ones can be trimmed and then start collecting assets – it’s just better that way.

This book gets 5 stars and I highly recommend it to readers of this blog.

4 Replies to “Rich Dad Poor Dad”

  1. I agree that the book isn’t the be-all-end-all, but it’s well worth reading. The book doesn’t actually teach you how to do anything other than think. It teaches new ways of thinking about money, at least new for most of us. And then hopefully it inspires you to learn more about how to achieve your financial goals.

    I think a lot of people are down on Rich Dad because they don’t like the author or because the book doesn’t tell you how to do anything. But the value in the book is the new perspective it offers. I believe in it and it’s definitely changed my life over the past few years.

  2. This is useless book, only aim is to make money from people want to be rich and have low IQ. I cannot believe this book is liked by so many.

  3. Well, Raj, unfortunately you insinuate some things that are rather rude. This book’s main message is this: don’t just sit back and be status quo, that’s something that people with any IQ level should listen to carefully. Also, I’d prefer that if you think you have an IQ, you write comments that are more useful than just insulting, do you have another book that you recommend over this? Is there a better technique?

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