Rich Dad’s Guide to Investing
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Rich Dad's Guide to Investing
3 thoughts on “Rich Dad's Guide to Investing”
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It is not meant to be a magic pill to get you rich overnight,
I have some sympathy with some of the poor reviews for this book, but i still award this 4 stars.
Yes, this is not a book that will make you a million overnight: There are no instant action points that will automatically put you on the fast track…and the comment that the first million dollars are the hardest to make is rather gauling to read if you’re currently skint.
However, what this book does do is give you a long-term philosphy to investment and running your business. From this 30,000 feet view, it is very handy framework to have in your mind. i personally found this useful as it plans out the mid-game of a person’s business/investment career (with a million already in the bag). This, i strongly believe, is useful to know even if you are at the beginning of your career as it’s important to have a map of where you are going. As rich dad says, u gotta have a plan….
Now, I suggest my fellow reviewers below did not pick up that nuance and were frustrated that there was no magic pill that could make them rich overnight. I share their frustration – it’s hard to overcome that urge to find the secret that will get you rich overnight and its always disappointing when u don’t find it……but that is the heart ruling the head….the level-headed person should constantly remind themselves that this business game is a marathon and not a sprint and this book will help with some (but by no means all) of the bigger waypoints on the journey
In short, this is a book for understanding the big picture of investment and business strategies. If u want a get rich quick book, then I’m afraid you will be disappointed….
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|Worth a read but you’ll have had enough of Kiyosaki by the end of it,
I read book this immediately after reading “Rich Dad, Poor Dad”, the first in the series of Rich Dad books. Rich Dad’s Guide To Investing continues the central concept of comparing his biological father (“Poor Dad”) to his best friend’s father (“Rich Dad”) as a means of contrasting how the Rich and the Poor differ in their attitudes towards money. In the first two-thirds of the book, Kiyosaki repeatedly hammers home the point that one of the first steps to achieving great wealth is a change in one’s attitude towards money and indeed, how to make money. He emphasises the need to build a business and become an investor in business rather than work as an employee. It’s similar stuff to the (perhaps eye-opening) first book but it doesn’t hurt to read it again, especially if your attitude towards money is more aligned with that of Poor Dad. And for me it’s this that makes it worth reading.
On the negative side, and admittedly this may be a symptom of reading two of his books back-to-back, things get very repetitive; the book really needn’t be 500 pages long. At the end he descends from the high-level lessons and actually goes into some of the specifics of how to take a company public! It smacks of gloating as nobody considering taking a company public would be reading this book for advice, especially since at the time of writing, Kiyosaki had never (and maybe still hasn’t) taken a company public before. I also grew to dislike his writing style, perhaps because some of the concepts are over-explained and therefore at times you feel like he’s talking to you as though you were a child.
Two other things that irritated me: Firstly, the ceaseless promotion of his own board game that he developed with the ‘noble’ mission of elevating everyone’s financial literacy (or words to that effect. The game is nobly priced at almost $200!). And secondly, the pointless interjections from business partner Sharon L. Lechter which serve only to interrupt the flow of the book.
On the whole it’s worth a read but don’t be afraid to but it down when it starts to get tough going towards the end – you’re better off picking up your next book.
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|Good if you have $200,000 per year or more…,
This starts in similar style to the previous books. However, I kept asking “So what?” Your first million is the hardest to make. “Well, I don’t have a million (surprise, surprise), is there anything you can do to help me get it?”
And the answer is…not really. The sort of things it suggests is more the sort of thing that Rich Dad 2 is about.
Some interesting things at the end of the book about how to take your company public, which should only cost a half a million or so.
So, basically, this book is about “You build a company – you own a company – you get $200,000 a year or more income – then I’ve got some more advice.”
Until you do have $200,000 a year, or until you have read Rich Dad 2 and wanted the next stage, I wouldn’t get this book. At least I got it for half price (thanks to Amazon).
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