Book Review On Rich Dad Poor Dad By Robert T.Kiyosaki

Date Friday, May 1st, 2009

The life changing book that has been a personal finance best seller for over a decade written by author Robert T.Kiyosaki. This little book has changed the lives of many people and their perspective on money, who are in misery, not knowing how to make ends meet due to lack of financial education. The contents of this book, tells the story of a young man, who is the author himself, being brought up by his natural father the conventional way of getting a job, saving every penny, working hard and climbing the corporate ladder. At the same time, he also had a “second father” who taught him a different way to view things and how to start from scratch and build his business into an empire.

Rich Dad Poor DadI am sure many of us can relate to the story on the part where we were being brought up the conventional way to become workers. As much as we don’t wish it to be that way, ironically, the education system plays a very big part in educating our fathers and their fathers to be trained into workers instead of educating them and inspire them to become business owners. Ignorance of other available choices, we are trapped in a eternal cycle of working for money, saving up and spending on wasting assets that constantly drains our finances and loses value over time. Welcome to the rat race! Unless we learn and educate ourselves on personal finance, we will be unknowingly stuck with only one way of thinking, and passing that knowledge on to the next generation. Talk about vicious cycle!

The main point of this book is to educate yourself on personal finance, which is to learn how to become financially independent by making money work hard for you and not you working hard to earn every single penny. It teaches you that you do not have to be a slave to money and to turn the situation to your advantage. There is no need for you to work for another person if you do not want to, in order to fulfill what you want in life. You are in control of your situation and you no longer need to take orders from anyone.  You decide how much work you need. You are your own boss!

This book has certainly made a huge impact on my life, why not read it and see if it will change yours as well? Make that difference now.

To purchase this book, click on the following: Rich Dad Poor Dad

Have a Kindle? Click Here instead.



Posts Posted by Ben Ang on Books    

One Response to “Book Review On Rich Dad Poor Dad By Robert T.Kiyosaki”

  1. Steven Says:
    January 1st, 2010 at 12:25 am

    Some might criticize and some are supportive. As for me, if you really know what is your condition now, and want some improvement, this is surely very inspiring book. However, lack of step-by-step getting rich examples, right?

    But, you know what, if people give you a hard task how to be rich, well, you have to look for an answer. they won’t feed you up every single spoon.

    So Invest your Time & Money into what? Actually really depends on people. Looking back at Robert Kiyosaki background, you would be able to know what to invest, Real Estate? Writing Books?. However, if you don’t like the field, you would really hard to get it started. The real answer is still in your hand that is “Invest” something that you comfortable of, and make the “Money” work for you.

    In terms of the definition between the Assets and Liabilities, his definition might seems confusing. But if you read some more materials from Robert Kiyosaki, he wants us to make the “MONEY” work for us. So during the monthly installment of housing loan, making people pay at least half of your monthly installment by renting out. Saving you 50% installment as well as saving you 50% of the interest indirectly. However, if you plan to pay 100% installment until the final stage. Then decide to rent it out at later age, you are actually working for money until the loan is settled first.

    Look carefully, the value you are paying today is actually for future value. For example, a property worth USD200K now, might be worth USD500k in 20 years time, correct? But if you calculate your monthly installment now, you might be paying at least USD450k from now onwards in addition to the interest and other charges.

    In summary, if you work for “MONEY”, you are actually BUYING.
    if “MONEY” work for you, you are actually INVESTING, meaning you put a very little money inside, the rest of the time, the money is paying by itself, and pouring in while you asleep and doing nothing.

    I found this from website saying:
    “I am an engineer working in wireless technology. I buy the latest cell phones and PDAs when they become available. I buy a faster computer every year. Liabilities? No. Without using cutting edge technology on a regular basis, I would not have the successful career that I have. No toys, no knowledge, no promotion, no job, no income.”

    Actually the meaning should be like this, making people pay for your upgrades, such as company that is willing to pay you all the expenses for learning new technologies. Getting a company sponsor your knowledge and appreciate your skills.

    If you want to be successful to pay every single cents on your own, it is just like buying your house from your every single hard earning money.

    Your asset = Hard earn money.
    Robert Kiyosaki’s Asset = People pay for it continuously and more.

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