Rich Dad's Retire Young, Retire Rich by Robert T. Kiyosaki, Sharon L. Lechter Summary and Reviews
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Book Reviews of Rich Dad's Retire Young, Retire Rich
Book Review: A Great Book to Read If You Want to Retire Rich and Young!
Summary: 5 Stars
I was so excited when I first read this book and I am still excited after reading it two years later. It is great to have a book that goes through a personal story and then tells you how you can apply the ideas in your life in many different ways. Robert and Sharon did well with this one. If you want to build a future for yourself outside of the rat race, this book is a must read.Book Review: A change of mind
Summary: 4 Stars
This book is good for people who doubt whether or not getting wealthy in life is easy. It's all a matter of the right mind set. When people hear that it's about the state of mind they're in, they tend to blow it off thinking they've heard 'that' before. This book tells you why you need to change your thinking and how to go about doing it. It not only tells you how to change how you think about the world but goes into technical details on shorting, calling, and putting stocks. True, Kiyosaki is mighty proud of his boardgame, Cashflow 101 in all his books but that shouldn't distract you from learning how to change your context. Kiyosaki gives practical easy to follow advice in this nice follow-up from the Rich-Dad series. It's very easy to go from reading Rich Dad Poor Dad to this book without having to read any of the others (Cashflow Quadrant, Guide to Investing) in between. Book Review: An enlightening novel
Summary: 5 Stars
This is the novel that did it for me. It is the third novel of Robert T. Kiyosaki's that I have read. I also have read Rich Dad Poor Dad, and Cashflow Quadrant. The first two books were exciting to read, the information in them is priceless. But this is the book where I finally realized the power of what I think. There is one particular line that I remember especially, First identify what I am afraid of, then ask myself what I want instead, then ask myself how to get it. As he says repeatedly, it is not the content that matters as much as the context. I don't know if I really understand all the stuff about leverage. But what is more important than that, is that I limit me. My thoughts limit what I do, and they also allow me to retire young and rich. I don't know how someone can't like these books unless they are a cynic, arrogant, or lazy. I encourage you to buy this book and read it. And then read it again like I am going to do.Book Review: IT'S ALL IN THE MIND, SO TRUE
Summary: 5 Stars
Of all the RICH DAD books this is my most favorite.
Why? Simply because we've got someone who can walk the talk, telling us that most of the resistance we experience in making money is our own limitations.
It didn't make sense when I was working a day job. Sounded like a bunch of huey, really, but, once I started down the entrepreneurial path, that all changed.
I'm in total agreement. Most of the limitations Americans experience with wealth is all in their heads.
That said, for those willing to take a deep look in themselves and who are willing to grow, this is one of the best books on the matter.
Highlights included:
(1) The most expensive advice is free advice b/c the wrong advice can destroy you. How many times do we take advice from next door neighbors about stocks when they know nothing, or, almost nothing? What does this have to do with mental limitations. Plenty. The people we associate with or want to believe can hold us back if their advice isn't accurate. I wouldn't take advice from journalists on TV, who make less than 100k yet give advice on the stock market daily, would you? Well, lots of people do listen to them.;
(2) The power of expanding one's reality. How many things do we feel are not true yet are? Wasn't their a time when we believed man could not fly and now we can fly?;
(3) Why do most of us not have a financial plan? Why do we rely on the govt to take care of us? Why do we choose to not have a long term plan?;
(4) Why the language we use restricts us even if we choose to believe it. If we say CANNOT or SOMEDAY how does that make us feel? How does it not serve us?;
(5) Setbacks and how they help us. Most people give up when they're really close.;
(6) How to create a winning team to assist you;
(7) The velocity of money application; and
(8) all types of leverage to achieve our financial goals.
Highly advised reading.
NOTE: I think RK sometimes makes things sound easy. While some of the concepts are simple, nothing is easy. I did pre-foreclosures for a couple of years and that was tough work. I made enough money to sit back and reflect and now I'm doing something I want to do: write a novel. I don't plan to return to real estate but I do appreciate the many financial lessons. 12/20/05.
Book Review: Changed how I thought about money and spending
Summary: 4 Stars
This was a great book for me because I am very good at SAVING money, though not very good at spending it. This book changed how I thought about what it meant to be rich. Some of the richest people I know do not work very hard. There is a reason for this, and the author explains this in a way that will get through any thick skull. I began to read this book less than one month ago, and have already stretched to purchase rental property that will soon be profitable. Though it isn't totally comfortable (or in my "reality" as the author explains), I am convinced it is the best way to achieve financial independence and work now toward working LESS in the future. I thank the book for this confidence.A few notes about Robert's writing: if you are looking for a book that defines a "recipe for success", this is not it. If you're looking for an eloquently written book, this is definitely not it. BUT...this book explains, sometimes philosophically, what it means to have other people's money work for YOU and for YOU to control when and how you pay your taxes. He makes many references to other books in the Rich Dad series (which I have not read), but summarizes those references so you aren't lost as to what he is talking about. He gives many examples from he and his wife's life in where their decisions have taken them. He DOES NOT tell you to go out and buy A, B, or C. Those are for you to determine based on the lessons.
This books sticks in my head throughout the day, and in my decisions about spending, investing, saving, and working. I am thirty years old, single, and feel like this book was some of the best money I spent, and even better that I did not wait ten years, or until I was married, or even until tomorrow, to learn these lessons.
Highly recommended by this reader!