Wednesday, April 24, 2013

Rich Dad, Poor Dad - A Financial Education Primer - Book Review & Thoughts

Rich Dad Poor Dad is a great book that provides some great insight into a different way of financial thinking.  He uses personal stories to effectively get his point across.  I think this book would be a valuable read for the discerning young adult.  I qualified this with 'discerning' for a couple of reasons:
1. Mr. Kiyosaki uses examples of financial maneuvers that are specific to American tax law.  One needs to have an understanding of what is and isn't possible from a tax perspective with real-estate deals before considering some of the options mentioned in the book.
2. It is important to read carefully as the author does qualify a lot of his financial suggestions with saying that he had a lot of experience and guidance.  Mr. Kiyosaki is aggressive in his financial investing - meaning he is willing to accept a lot of understood risks.  If you don't understand all the risks around the investments you are making, then you probably should be calling them investments.  It ends up being more like gambling.  The author says this himself.

I totally agree with the author's philosophy on learning.  He talks about it throughout the book, and because of that, I highly recommend it.

Some questions for readers to consider:
Mr. Kiyosaki almost makes money sound like the 'end all be all' in the first chapter of his book - like learning the proper lessons about money is the most important thing.  Do you agree?  Do you think there are more important things?
After you've read the book, reflect on whether or not it has influenced your view of success.  Has it changed how you view or define success?  Do you agree with Mr. Kiyosaki's point of view in the book?  Do you think it's a balance point of view?

1 comment:

  1. Financial education prime and thoughts are providing a great deal with the education learners and the distributors as well. It's a great book that provides some great insight into a different way of financial thinking and planning. Providing stories effectively to get his point across. I think that this blog would be a valuable read for the discerning young adult.

    ReplyDelete