Rich Dad, Poor Dad by Robert Kiyosaki has always been the go-to book for people who's looking for a way to end their financial woes.
Does it really give sound financial advice or just a bunch of mumbo-jumbo of extraordinary proportion?
The book Rich Dad, Poor Dad is a financial advise book authored by Robert Kiyosaki and co-authored by Sharon Lechter. It was published in 1997 and was pushed into astronomical fame ever since. It has sold over 32 million copies and had been a New York Times bestseller for whopping 260 weeks!
But is this reputation a well deserved one?
Well, one thing I loved when I first read Rich Dad, Poor Dad was how great Rich Dad was. With little education and low rank in the society, he was able to be a great business mogul of the Islands of Hawaii. Talk about success right?
But as I read more books of Kiyosaki about Rich Dad, the more I become more interested whether rich dad is really real or just a figment of an author's imagination.
For a critical man, Rich Dad has some quirks that cannot be left unnoticed.
Like how we was able to have advice on almost anything bout business, or how vague his approach are in giving advice, ( like you'll have to wait for years before you remember that this is the answer to that open-ended question given by Rich Dad).
Critics suspects that Kiyosaki had built a character out of thin air, thus Rich Dad came into existence. In an interview conducted in 2002, Kiyosaki had compared Rich Dad with a character like Harry Potter. The backlash was tremendous as critics were quick to drew blood on Kiyosaki's remarks.
All the advice written on the book was put into question, even the reputation of Kiyosaki was put in the line.
Long time readers and fans of Rich Dad Poor Dad was in turmoil. Avid supporters claimed that they don't care whether Rich Dad is real or not, but what matters are its advices that are usually sensible and logical.
On the other hand, others said that Kiyosaki had used the supposedly "real" Rich Dad to give credibility to his book and allow it to be put in the non-fiction section of the bookstore.
People believed the recommendations of the book because someone else had already done it.
But now that the very existence of that "who done it before" was put into question, it invalidates almost everything in Kiyosaki's Rich Dad, Poor Dad.
A silver lining in for the fans in 2009.
In 2009, a man named Richard Wassman Kimi, passed away. It turns out that Richard Wassman was Rich Dad in Robery Kiyosaki's book. A hawaii-based paper reported this at their obituary "“Richard Kimi also enjoyed teaching and sharing his sales, marketing and business knowledge. One of his students was Robert Kiyosaki, author of the Rich Dad, Poor Dad books, who based the “rich dad” of his books on Kimi.”
The similarity of Rich Dad's life described in the book and Kimi's life history corroborates Kiyosaki's claim that Rich Dad is really a real person.
Kimi and Rich Dad both had served in the military and find fortune in the real estate business. And like the Rich Dad in his book, Kimi also possess socio-civic consciousness by focusing more on giving services to the locals and not-so-rich instead of the mega rich visitors of Hawaii.
What are the lessons of Rich Dad, Poor Dad?
Some of the advice given by the Rich Dad, Poor Dad is spot on. It is an invaluable book teaching how to manage your personal finances.
The book taught me how to acquire assets first before buying liabilities. Rich people had been on the process of acquiring assets that will pay for their liabilities while the poor is much obsessed in acquiring liabilities and wondering why they're poor.
Kiyosaki also made it far clearer that the government will always takes it cut first before giving your money to you. So it is wise to know how the system works and learn how to make it work to your advantage.
However, Kiyosaki's book has its limitation.
While it is a good motivational book to start taking control of your finances, it will be a disappointment for anyone looking for a step by step way on how to become reach. Well, Robert Kiyosaki always made it clear that his books are not a guide on how to become rich but rather how to have the rich man's mindset.
Since Kiyosaki is an established businessman in the field of real estate, his bias towards real estate is very apparent in his book. This leaves little space for other business ideas to be discussed in Rich Dad, Poor Dad.
The book must also be taken with a grain of salt especially by students and other young people. Kiyosaki's view is that you will not get truly rich by pursuing higher education, only a high-paying employee.
While its true that many of the today's billionaire did not finished their college studies, it is worthwhile to note that these people also possess extraordinary skills and determination that helped them get success.
Think about that before quitting school, okay?
All in all, Robert Kiyosaki's Rich Dad, Poor Dad is a good book to start reading on your quest to financial freedom. It may have some limitations, but I seriously recommend this book to anyone.
Does it really give sound financial advice or just a bunch of mumbo-jumbo of extraordinary proportion?
The book Rich Dad, Poor Dad is a financial advise book authored by Robert Kiyosaki and co-authored by Sharon Lechter. It was published in 1997 and was pushed into astronomical fame ever since. It has sold over 32 million copies and had been a New York Times bestseller for whopping 260 weeks!
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| Robert Kiyosaki's phenomenal Rich Dad, Poor Dad |
But is this reputation a well deserved one?
Well, one thing I loved when I first read Rich Dad, Poor Dad was how great Rich Dad was. With little education and low rank in the society, he was able to be a great business mogul of the Islands of Hawaii. Talk about success right?
But as I read more books of Kiyosaki about Rich Dad, the more I become more interested whether rich dad is really real or just a figment of an author's imagination.
For a critical man, Rich Dad has some quirks that cannot be left unnoticed.
Like how we was able to have advice on almost anything bout business, or how vague his approach are in giving advice, ( like you'll have to wait for years before you remember that this is the answer to that open-ended question given by Rich Dad).
Critics suspects that Kiyosaki had built a character out of thin air, thus Rich Dad came into existence. In an interview conducted in 2002, Kiyosaki had compared Rich Dad with a character like Harry Potter. The backlash was tremendous as critics were quick to drew blood on Kiyosaki's remarks.
All the advice written on the book was put into question, even the reputation of Kiyosaki was put in the line.
Long time readers and fans of Rich Dad Poor Dad was in turmoil. Avid supporters claimed that they don't care whether Rich Dad is real or not, but what matters are its advices that are usually sensible and logical.
On the other hand, others said that Kiyosaki had used the supposedly "real" Rich Dad to give credibility to his book and allow it to be put in the non-fiction section of the bookstore.
People believed the recommendations of the book because someone else had already done it.
But now that the very existence of that "who done it before" was put into question, it invalidates almost everything in Kiyosaki's Rich Dad, Poor Dad.
A silver lining in for the fans in 2009.
In 2009, a man named Richard Wassman Kimi, passed away. It turns out that Richard Wassman was Rich Dad in Robery Kiyosaki's book. A hawaii-based paper reported this at their obituary "“Richard Kimi also enjoyed teaching and sharing his sales, marketing and business knowledge. One of his students was Robert Kiyosaki, author of the Rich Dad, Poor Dad books, who based the “rich dad” of his books on Kimi.”
The similarity of Rich Dad's life described in the book and Kimi's life history corroborates Kiyosaki's claim that Rich Dad is really a real person.
Kimi and Rich Dad both had served in the military and find fortune in the real estate business. And like the Rich Dad in his book, Kimi also possess socio-civic consciousness by focusing more on giving services to the locals and not-so-rich instead of the mega rich visitors of Hawaii.
What are the lessons of Rich Dad, Poor Dad?
Some of the advice given by the Rich Dad, Poor Dad is spot on. It is an invaluable book teaching how to manage your personal finances.
The book taught me how to acquire assets first before buying liabilities. Rich people had been on the process of acquiring assets that will pay for their liabilities while the poor is much obsessed in acquiring liabilities and wondering why they're poor.
Kiyosaki also made it far clearer that the government will always takes it cut first before giving your money to you. So it is wise to know how the system works and learn how to make it work to your advantage.
However, Kiyosaki's book has its limitation.
While it is a good motivational book to start taking control of your finances, it will be a disappointment for anyone looking for a step by step way on how to become reach. Well, Robert Kiyosaki always made it clear that his books are not a guide on how to become rich but rather how to have the rich man's mindset.
Since Kiyosaki is an established businessman in the field of real estate, his bias towards real estate is very apparent in his book. This leaves little space for other business ideas to be discussed in Rich Dad, Poor Dad.
The book must also be taken with a grain of salt especially by students and other young people. Kiyosaki's view is that you will not get truly rich by pursuing higher education, only a high-paying employee.
While its true that many of the today's billionaire did not finished their college studies, it is worthwhile to note that these people also possess extraordinary skills and determination that helped them get success.
Think about that before quitting school, okay?
All in all, Robert Kiyosaki's Rich Dad, Poor Dad is a good book to start reading on your quest to financial freedom. It may have some limitations, but I seriously recommend this book to anyone.
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