Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! by Robert T. Kiyosaki, Sharon L. Lechter Summary and Reviews
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Book Reviews of Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not!
Book Review: Interesting read
Summary: 3 Stars
Pros:
- easy to read
- keeps you interested
- you find some good info here and there
Cons:
- too vague about the subject
- repetitive
- too situational to US market
Fine read for a holliday.
Book Review: Worst Book I Almost Read
Summary: 1 Stars
This book is terrible. I got halfway through, about 200 pages, and realized it was going absolutely nowhere. It reads like a bad infomercial, jammed with financial fortune cookies, that gives you absolutely no advice and no help. You'll get as much out of watching a Tom Vu half-hour as reading this mess. I keep waiting for a point, the nuts and bolts of investing (as the title might suggest), but none of that is here.
Kiyosaki is one of those typical rich guys who earned his wealth in one of two ways: 1) he got lucky and cashed in on real estate at the right time, or 2) he sold copies of a really bad book to people, promising to make them rich. In either case, it doesn't qualify him to provide these life lessons he keeps espousing.
And not only is the content bad (bordering on ridiculous), it is reads like it was written by a third grader. It's all these drawn-out conversations between him and his so-called rich dad. Seriously, it's like Miyagi in "The Karate Kid", only we never learn why we wax on or wax off or paint the fence.
Case in point: he emphasizes making a plan. A plan is very important, says he, and I agree. But I summed that up in two sentences and it takes him around 10 pages. And then he doesn't give any specifics about what should be IN the plan. Just have one or you'll remain poor. Thanks for the help. AHA!!! So that's what's been holding us poor minions back!!
After reading page-after-page and going nowhere, I started skipping large sections. Then I realized I could skip the whole book. I recommend you do the same. I can guarantee you will not get rich by reading this or any of his other books - I bet he won't guarantee the opposite.
Book Review: Evidence-based decision-making applies to personal investing
Summary: 5 Stars
"I always remember my rich dad saying, 'I have so much money because I was willing to make more mistakes than most people and learn from them. Most people have not made enough mistakes or continue to make the same mistakes over and over again.'" As I commented in Hard Facts, Dangerous Truths, in the Business Development section of this resource library, evidence-based decision-making is the key difference between succeful leaders and others. The same applies to individual investors and business owners. Study the facts, and hire people to also do that for you, and you can make better decisions. The rich, according to Kiyosaki, invest based on facts, not based on wishful thinking or based on fears and biases of family and friends. I like the writings of Kiyosaki because they are simple lessons wrapped in simple stories, and they cause me to think of my own decision-making. This principle is behind my reviews of instant wealth systems at civilsocietyblog at seedwiki. Book Review: This is a psychology book
Summary: 5 Stars
The answer to the question posed by the title is simple: "Themself".
The book goes into details of "how" they invest in themself. You can choose to do the same if you like it and you will benefit.
The premise of the book is that poor people are poor because their mental wiring (The thought process) is wrong. This book is about how rich think and how you can "train" yourself to think like them.
Yes, the title is misleading, but if it were "Rich dad's guide to Mental rewiring - How the rich think and the poor and middle class dont", you wont buy this and neither will you be reading this review.
One quote from this book resonated with me:
"If you think you can, you can. If you think you cannot, you cannot. Either way, you are correct"
Read the book, it is a gem. It might just change your life.
Book Review: RD Guide to Investing
Summary: 5 Stars
For anyone who has no experience or no (family) history of finding, analyzing, and acting on investments, this book is one to read. For one who has some background, this book opens interesting avenues. I'm glad to have made this purchase and have recommended the book to others.