Interpretation: 2-stars is more like "meh".

This book has been repeatedly referenced by authors I respect, and the curiosity got the better of me. Clearly. Because I read the whole book, thinking there must be something salvageable somewhere. However, I finished it disappointed. The author's greatest weakness is not that he doesn't understand money. He does well. Rather, he gets on the cusp of cracking a code for his readers...and then breaks into a swagger and bravado about his own accomplishments + income.

Edited down, this is what you need to know: Have assets, not liabilities.

There are far better books available with simpler, straight-forward, 1-2-3 steps to follow when building financial security. Bottom line: look elsewhere.

رغم أن الكتاب على قائمة
Want To Read
منذ سنوات إلا أني لم أفكّر جديًا بقراءته سوى هذه الأيام بعد أن استمعت لعدة مقاطع فيديو لمؤلفه روبرت كيوساكي؛
ظننت حتى بلحظة أني أضعت على نفسي فائدة جمّة بعدم قراءته حتى الآن!
فـ بالله أستعين...

In the pantheon of Financial Literacy and Pseudo Self Help this book is pretty regularly tossed around. I had never read it despite having read many of what I would consider similar books: Think and Grow Rich, HTWFAIP, 7 Habits, 4HWW, etc. Well today that changed, and I am worse off for it.

This book is junk. Thankfully it’s been out for awhile and cheap used copies are abundant, but I feel bad for even the meager $3 I spent at Half Price Books. And that my purchase might add weight into whatever algorithm is evaluating their inventory, which in turn might perpetuate the idea that people should care about what Robert Kiyosaki has to say.

There’s an idea that I was introduced to through InfoSec. When you look at scams, a lot of the things that people laugh at are deliberately placed in order to filter out bad marks. If you’re a scammer, you don’t want someone who thinks critically to waste your time. So having a sentence like “Pls helf I am rare prince with millions of dollars to give for you” is actually one of the better ways to select out those people. I couldn’t help but wonder if this book is intended to do the same thing.

Robert Kiyosaki has apparently buit a whole ecosystem of Financial Self Help materials with this book as it’s flagship. In which, he mostly lauds the virtues of passive income and generating income for yourself. That's fine, no one with two braincells to rub together is going to disagree about the idea that "investing is good." The problem is with literally everything else in the book.

So a couple quick things, because Im not sure that the millionth review of this book on Goodreads is worth much of anything, Kiyosaki is making money off teaching others to make money. It’s a paradox with no end in sight. This book has those few prescient points intertwined with a lot of just bad advice and shaming of those who don't do exactly what he says. It's like the worst of the toxic MLM mentality that says, if you're not successful it's not the MLM's fault for having a shitty product or terrible support, it's your fault for not working hard enough.

The writing is fake as hell. The same way it rustles my jimmies when Brene Brown has cute kids come up with much-too-prescient conclusions about the whole of the human experience, Bobby K here has an all too magical mentor figure that doesn’t seem like they ever existed. Read this guy if you want to see more detail (https://johntreed.com/blogs/john-t-re...) And while I'm not one to throw out a non-fiction book for creating a composite character, inventing one out of thin air, combined with the other glaring issues with the ideas presented, undermines the credibility of what is said. It's a narrative device designed to obfuscate shitty ideas. The appeal to credibility fails when your Rich Dad is an imaginary Mary Sue, puppeted by the author in order to spew bad advice.

Nassim Taleb, for all his curmudgeonly argumentative twitter nonsense, has a great book about having “Skin in the Game.” The premise is to look for people who are authentically in line with what they are saying. Slick Bobby K here is full of big talk about his “portfolio” but doesn’t present any actual evidence to back up his claims. I’m struck by the humor that this book was likely written by someone who has never actually had success doing what is preached about in the book.

The formula for success here is to predatorily take advantage of those who are daft enough to believe your nonsense, and to milk them for thousands in courses on your website ($599 for a course on real estate investing if you're interested). It's the “hello I am prince with gold bars that need visa US passport” just for a slightly (very slightly) more sophisticated crowd.

Now if you liked this book, and feel the need to tell me how wrong I am, I read every comment over $299 sent to my CashApp at $rickw262. Its half the price of Bobbys Real Estate course, and I promise you will get twice the satisfaction.

I'm a bibliophile, I've read four books. But trust me, this is my favorite book of all time, and yeah, I like, how to make friends and influence people.

"Acquire Assets, Avoid Liabilities". The message of the book was fascinating and valuable yet the author continued rephrasing it, again and again, to fill out 200 pages.
This book is just an introduction to the world of personal finance and it is going to contribute very little towards your financial literacy.
In the book, Robert says, "I am a best-selling author, not the best-writing author". I do not doubt his statement because this book is just a drag based upon 2-3 facts.
There are better books on personal finance available in the market which are actually rich in content.

Way back, when I was in college, one of my teachers recommended this book to me as a must read before I started earning. Characteristic of a college student, I ignored it completely. Wish I had read this way back! Needless to say, when I finished it, I recommended it to everyone I cared about.

This book is like a must read for Financial literacy (not education) - what is not taught in school nor the social set-up. Using anecdotes and simplified explanations, the author drives home the point of how becoming rich is a choice and how money can work for you. Not that everything is acceptable, but then, it is far more educational than the gazillion books on money / investment.

Using the two polar opposite viewpoints of Rich Dad and Poor Dad, the author explains his understanding of how to develop a healthy attitude towards money (which is basically a concept) and getting rich is a lot more mindset change and self control than opportuities. The leasons were hard hitting and you feel a bit restless of what the book is doing to you.

A must read!

Worst book ever. Ew.

This book has one message that makes alot of sence but unfortunately this is the only part of the book that does. The rest is either to specific to the point of sounding stupid (see next paragraph) or not specific enough and somehow $50,000 dollars turns to $60,000 with only a few words of encouragement, I wish this is how is actually worked.

So this book actually made me very mad at times, it provided situations to make money that were very hard to believe, does this guy seriously think people will learn from this. If youve read the part where he starts a comic book library in his house as a child you know what I mean. This is how it plays out - He gets free comics from a store that is throwing them out b/c they were old or something like that, then sets up a room in his house where kids from the neighborhood come over and pay to spend a certain amount of time in the room, he pays his sister a portion of the profits to watch over the room and collect the money. He then goes on to say that he did this with no money at all and makes a profit out of nothing. This just does not happen in the real world, besides the obvious fact that children dont have money and if they did wouldnt spend it to go to a lousy homemade comic book library in thier frinds spare room. The lack of thought it took the author to come up with this scenario should NOT be printed in a book! Just one vauge example but the rest of the book is filled with this "off the top of the head" writing style that I would not suggest to anyone.

Please dont give this Author anymore money, below is the only useful information I found in this book.


When you own something, it is either putting money into your pockets, or taking money out of your pockets. Owning a business or earning royalties creates income. Owning a house and a car incurs expenses.

Try to own things that put money in your pocket.

If you rely on earning a wage or salary to put money in your pocket, you will be forever caught up in the vicious cycle of needing money, earning money and spending money.

عاش الكاتب تحت كنف أبوين، وكلا الأبوين ناجح في حياته ومتفوق، الا أن طريقة التفكير تختلف، فرغم أن الأب الأول أكثر تعليماً الا أنه -وحسب رأي الكاتب- يفكر بطريقة مختلفة عن الطريقة التي يجب أن يفكر بها الأغنياء والأثرياء، وهو الأمر الذي قام به الأب الثاني والذي لم يكمل تعليمه الإعدادي

الكتاب به الكثير من التشجيع على الاستثمار والمخاطرة الذكية، ويركز على الطريقة السليمة في التعامل مع المال

لم يعجبني في الكتاب، أسلوب الكاتب الذي يتضح أنه من الرأسماليين الجشعين جدا، فهو يجد أن الفقير يستحق الفقر، وأنه يستحق أن يبقى فقيرا، وأن يزيد الأغنياء ثراء والفقراء فقرا، متناسياً تماماً المبدأ الاسلامي "إن الله يبسط الرزق لمن يشاء ويقدر"، إضافة إلى أنه دائماً ما يحاول اثبات وجهة نظره من خلال أمثلة قد لا تنطبق على الكثيرين، فباسلوبه الحماسي وتشجيعه المثالي وكأن الحياة وردية قد يدفع بالكثيرين غلى خوض مغامرات قد تودي بهم

ومع ذلك فقد نجح الكاتب بشكل كبير في تعليم الناس الطريقة الذكية في التعامل السليم مع المال بشكل بسيط وميسر، وفي التشجيع المستمر على التعلم والقراءة

This book is a gem. It gives you simple explanations of how money works. It will not give you any trading tips, but it helps you understand the things no one teaches us in the school or at home. The financial insights aid you to take action, and be your boss. Many people don't like this book, but I think every novel is different and written by diverse authors who have distinct experience makes it more interesting to read. Whether you're an experienced financer or a newbie, this book is perfect for you. I highly recommend it.

Read the detailed review here -https://www.bookscharming.com/2020/07...

إذن... احتاج مني الأمر 4 شهور، 7 فصول، و165 صفحة.. عشان أوصل أخيرا للـ (آها مومنت) اللي كنت أنتظرها -واللي بدأت عشانها أقرا هالكتاب.

يوم خلصت النصف الأول من الكتاب، كنت أجد صعوبة كبيرة فعلا في إكماله إلى النهاية، رغم اهتمامي بموضوع الثقافة المالية ورغبتي في التعلم.. بدا لي أن لغة الكاتب غير موجهة للقارئ العربي إطلاقا، وأن الإطار المالي للفرد في المجتمع الأمريكي هو مختلف بالكامل عنه هنا. نظرة الكاتب كانت مستفزة بالنسبة لي -وأنا المتحمسة بخطواتي الأولى الخجولة في عالم المال والأعمال- وهو يقول أن المال وهم مختلق، وأن الطامحين للثراء هم ناس يحركهم الخوف أو الجشع، وأن الأمان الوظيفي لايحمل أهمية إلا للكادحين الجبناء. حتى أنهيت الفصل السابع (من أصل 10 فصول) وانا أحس بملل غير طبيعي.. وأفكر: هكذا إذن.. كتاب سخيف من 230 صفحة ماله أي فايدة ولا هدف إلا إقناعك بترك الوظيفة والتوجه للعمل الحر.

في الفصل الثامن، بدأت الأمور تختلف بشكل ماتوقعته.. ما أقول إني اتفقت مع الكاتب في كل فكرة قالها، لكني بدأت أشعر (أخيرا!) أنه يقول كلام مثير للاهتمام ووجهة نظر تستحق القراءة. الفصول الثلاثة الأخيرة رفعت تقييمي للكتاب من نجمة ونص إلى نجمتين ونص.. من خمسة. و سعدت إني امتلكت طولة البال عشان أكمل الكتاب وأوصل للجزء الأفضل فيه، واللي يشرح لي بطبيعة الحال مجموعة من الأمور اللي مااستوعبتها بطريقة سليمة في الفصول الأولى.

في النهاية، أنصحك لو كنت جاي من طرف أحد مادح لك الكتاب وموصله للسما.. انك تسوي فورمات للي سمعته، وتقراه كأي كتاب ثاني بدون توقعات كبيرة. في الكتاب كمية جيدة من التنوير المالي، وفيه فوائد جميلة استمتعت بقراءتها.. لكن توقعاتي المسبقة أحبطتني بعض الشيء في البداية.

n  n
(Slate, February, 2016)

Unlike employees, entrepreneurs work for free.

At 9, Robert Kiyosaki was taught (by his Rich Dad, an entrepreneur) about money by playing Monopoly.

The school system will never teach you about money. (Wall Street won't allow it, suggests the author)

Robert Kiyosaki tells young people: find your game.

"I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I—
I took the one less traveled by,
And that has made all the difference."

The above poem by Robert Frost, alludes two ways. Kiyosaki took the "less traveled one". Meaning, he preferred his unfinished-8th-grade, entrepreneur, Rich Dad's way. Rather than his biological father's way. Poor Dad was a PhD man, indebted, with no financial literacy.

"I don't save money. I don't pay taxes"
"The rich don't have jobs, but assets"

His financial Philosophy is coherent and makes sense, if you're about to live for (and by) the supreme value of profit (you may call it "cashflow") and the money god. And yet his sayings about the poor are inexcusable. Like, "The poor are stupid people".  I am deeply worried about the poor in spirit.

Granted, this book teaches you 6 important lessons which, presumably, will increase your financial IQ. But money won't buy you hapinness, as we all know. In fact, it may get you into trouble.

Once I watched someone interviewing Donald Trump and Kiyosaki. They were both facing the challenge of defining what a rich person is. The first character emphasized that being rich is a "state of mind", if you would have also a "wonderful" family. I didn't hear Kiyosaki speaking about family.

Anyway, this is a good read. Sometimes a bit simplistic. You know, Kiyosaki doesn't like academics. Maybe he should. Their minds are rich enough. Some.

P.S. Kiyosaki was sued by his coauthor; she received $10 million.


UPDATE

https://www.yahoo.com/finance/news/ri...


UPDATE

(GOOD Prediction)

https://www.news.com.au/finance/busin...