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A Review of Rich Dad, Poor Dad by Robert Kiyosaki

I am a full-time content creator. I write about entertainment, personal finance, & every facet of health.

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Rich Dad, Poor Dad is an excellent book, one written from the perspective of a very wealthy man.

If you are prone to blaming the government for your financial stress—which most of us are at times—it will likely make a good read.

Robert Kiyosaki Is Ruthlessly Direct

The callousness that the author conveyed sometimes was shocking, yet it still made complete sense as far as getting the best bang for your buck goes.

He is not afraid to point out the many flaws that accompany those who choose to work for someone else, at least in many cases:

  • They cannot scale their income.
  • They have to answer to someone else.
  • They too often do not receive financial education pertaining to money management and investing—Most of us don't.
  • They usually work on someone else's terms instead of their own, trading their precious time for money without realizing there are other options.
  • Too often, they are paid less than they deserve, in part because they haven't mastered the art of negotiation.

Robert Kiyosaki is a wealth of information, but his writing is certainly not for the faint of heart.


Ask for What You're Worth

Too many people forget that nearly everything is negotiable if you are savvy enough: the cost of a home, your salary, a pay raise, etcetera: The problem is that a lot of us forget asking is even an option.

The caveat, of course, is that you have to go above and beyond the expectations of the job you have if you expect to be compensated more highly.

Again, too many individuals despise their jobs too much to do that.

Make Your Money Work for You

You don't have to work for the rest of your life if you invest wisely, unless you'd prefer to.

The savviest people invest in assets such as fine art, dividend stocks, and real estate, reap the financial rewards, and, eventually, live off of the interest they've earned as a result.

This is certainly a better way to go than toiling away for all hours of the day and blowing through your paycheck the minute it hits your account.

The problem is that most of us are short-term thinkers rather than long-term planners.

A healthy balance of the two is key for success.

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Get the Best Deal You Can

This is definitely advice straight from the (corrupt) horse's mouth:

  • If you hire employees, pay them as little as possible by taking advantage of them, demanding their full potential, and compensating them meagerly for their efforts.
  • Always look for discounts wherever you can find them.
  • Save your money, even if that means hurting other people by not paying them what they deserve to be paid.

I vehemently disagree with all of this advice, but it's there, in plain sight.


Spend on Luxuries after You've Invested

This advice was perhaps the most illuminating: The fake rich spend their grandchildren's inheritance on fancy yachts and designer clothes, as Kiyosaki puts it, but the real rich?

They spend interest from their investments on their Mercedes-Benzes, extravagant pool parties, and trips to The Bahamas.

That means they keep getting wealthier because they continuously earn income from their investments.

Diversification Is Key

The profit from most investments goes up and down: In short, you can actually lose money.

Fortunately, the best way to remedy the situation is to set yourself up for success by diversifying your portfolio: These people buy investment properties, fine art, and dividend stocks.

Honestly, it's not a bad strategy.

Overall, this was an excellent, humorous, and informative read.

Honestly, I would give this book 4/5 stars: A certain amount of empathy was lacking, but all of the advice was good— If your only concern is getting filthy rich, despite having to step on other people's toes to do so.

Pros:

  • Wryly humorous, entertainingly written
  • Engaging
  • Concise
  • Extremely direct
  • Accessible
  • Thorough

Cons:

  • Quite ruthless at times to towards those who were uneducated about their finances or were simply poor.
  • A lot of this advice is for people who truly do not care about exhibiting a minimal amount of human decency as long as they get to where they want to be financially.

In short, this is a book that is chock-full of actionable advice, but you'll want to be careful just how much of it you take to heart: Following the instructions within its pages to a T could lead to a great deal of moral indecency.



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