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Review of Rich Dad, Poor Dad

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Who would know that during the daily slog at work I would have the course of my life changed. My workmate said, I must read Robert Kiyosaki's book Rich Dad, Poor Dad and that it would change my life. I hadn't heard of Robert Kiyosaki before nor of the book. She further told me that because of the book she had started her own small businesses with the view of one day being financially free.

She was right. I read the book and it changed my total mindset. Although it will not make you rich overnight the themes of the book have the power to set you on the road to financial freedom.

Rich Dad, Poor Dad is an advice book by Robert Kiyosaki about financial lessons learnt from his own life experiences and two examples of successful men – one his real Dad – a successful educator who whilst having succeeded in his field was forever financially enslaved and another – a Friends Dad who although he started poor ended up very rich indeed. By contrasting these two men very clear lessons are learnt.

Firstly very few people get rich by working for others. The rich get so by understanding money and the importance of leverage time and effort of others, and leveraging money to make it to work for them. One classic sentence which says in my mind and which if you learn nothing else is alone worth the cost of the book, or the time to visit your public library is "an asset is something that puts money in your pocket – a liability is something that Takes money out of your pocket. Hence a house is not an asset because it generates you no money, only maintenance expenses, likewise with cars and many other things people call assets. He demonstrates real assets earn income like savings, shares, rental property and businesses.

Many people criticize Robert for not spelling out a path for everyone to follow – ie buy this, sell that. Robert though acts as an educator – giving his readers the tools to achieve their own financial freedom through any means they wish. He recommends real estate investment or starting a business as the best means of achieving wealth. Whilst he acknowledges the risks involved he illustrates the greatest risk is to do nothing and be enslaved to a wage for your entire life.

In rating this book I give it a 10 out of 10 and if Robert reads this – my many thanks. I went on to read the whole series and you might be tempted to do the same.

By Alastair Harris

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