what is the concept of rich dad poor dad
January 30, 2007 3:38pm CST
Any of you have read this lovely book and can you tell me what you can guide me about with the concept of the book
• United States
14 Mar 07
In regards to your comment the big problem is in his book he put just enough information in it in order to lead you to your own conclusions just like all of his other books I've read. Which is the main reason people in the MLM industry have preached his teachings for so long, depending on how you interpret it will depend on which way you believe. Coming from a person who has been part of many MLM companies and have also invested a lot of money in Robert Kiyosaki as well, the truth is his book doesn't agree with the MLM setup because he tells you to build a business that doesn't require your own efforts and with MLM it is solely up to you in order to get the products sold not employees that work for you.
16 Feb 07
Ive heard that too but not really reading it, I ask a friend the same and what he told me was this. We nrmally have jobs,but jobs we have simply supports our lifestyle, but we dont get rich, only the people who owns the job you work get rich. Where in there are two choices, you can make, if you have money, what will you do with that, either , you use your money to buy an asset, the other one is , you buy a liability, both of them using your money. The difference of the two was, the asset you bought in return will pour you money back, while the liabilities will require you to spend money to make it running. Like buying an asset or small business, it someshow ears money for you. while buying a liabilities are like owning a car, the car will run needing your money everyday. I dont know if you get my point. Its like this, a friend of mine rented a hosue, then convert the house into a dormitory to earn for him. Its like saying that , let the money work for you and not you working for money, which one is better, you judge...
17 Feb 07
Yes I have gone through this lovely book and what I could gather from the book is that you have to take risk to earn more, the safer you will play the game of life poorer you will be. But somehow to follow the sayings of that book you really need to live dangerously and then prosper.It is a tough task.
18 Feb 07
Actually the "risk" being refered to in the book was about "calculated risk". It was mentioned that one should really take risks in order for him or her to succeed. We need to plan first before we jump into a business venture. Anyway life is a risk isn't it?
16 Mar 07
The key to financial freedom and greta wealth is a persons' ability or skil to convert earned income into passive income and portfolio income. Investing to become rich requires a different set of personal skills - for financial success as well as low risk and high investment returns. One must know how to create assets that buy other assets. Rich Dad & Poor Dad gives the basic education regarding the above. With this basic education outline one cannot immediately gamble with their own money. Experience required is time consuming.
• United States
14 Mar 07
If you find out more about the author through other books and series you will find out the entire reason behind the book was they wanted to sell the game "Cash Flow". That in mind it does have just enough good information in it to have you wanting more. My opinion it shouldn't have been in the Business / Real Estate section of the book store and instead should have been marked as "About Me" but the truth is then no one would have bought and and we wouldn't be having this discussion right now. (Just like his first book about teachers, which no one read) Please keep in mind that I have invested a lot of money in Kiyosaki's teachings as well as other investors and I'm not trying to put the guy or the book down just trying to keep things real.
22 Feb 07
The concept is that anyone can become rich but you must play by the rich people's rules. Anything that takes money out of your pocket is a liability and anything that put money into your pocket is an asset! This idea takes you to the first step to become rich! regards, Thomas Hoi http://drsecretbwl.blogspot.com
15 Jul 10
It teaches us how to learn by "unlearning". Before we learn the way of the rich, we have to unlearn first the lessons inculcated in our minds by our poor and middle class environment. We have to empty our cups first of outdated "poor" beliefs before we can fill it with lessons of the rich.