Well, it had to happen sometime. After stirring up a hornet’s nest the last time I discussed Robert Kiyosaki, it somewhat became inevitable that I would review his very well known personal finance book, Rich Dad, Poor Dad. This book has been inspirational to many people, but the book seems to have produced as many critics as champions. What’s really inside those covers? Let’s dig in.
The remainder of the book is a section entitled “Beginnings,” which seems from the title to indicate that it will discuss how to begin applying these lessons to your life. Instead, the section mostly is filled with some very weak personal productivity tips. Here’s what is inside.
Overcoming Obstacles One might have expected that this section would include getting yourself financially prepared to actually take action and accomplish the investments that the book discusses, but the obstacles discussed here are all psychological. That’s not to say that overcoming fear, cynicism, laziness, and arrogance aren’t worthwhile goals, but a person can be quite humble and still not be in a position to take advantage of the lessons presented earlier.
Getting Started This is another chapter heading that holds promise, but ends up going in a direction that doesn’t really lead to accumulation of assets. In essence, this is a chapter on personal productivity with a touch of the same rule of attraction nonsense found in The Secret. There are some good points in the chapter that are great for life management (take things one day at a time, for instance), but then the positive direction is ruined by statements that imply that your life has basically three choices: you either waste your money on consumer goods, you put your money in the bank and earn “nothing,” or you get rich in some vague, unspecified way. The point is to convince you that you…
Still Want More? At last, some tangible things: read books and take classes to educate yourself! Ask questions! Do something! These are all great tips, but I felt really uncomfortable realizing that the first direct, clear applicable tip found in the book came near the end – and it was to read more books.
The book ended with a very brief section that outlined another unbelievably good financial situation. Tomorrow, I’m going to give a buy or don’t buy recommendation for Rich Dad, Poor Dad.
Rich Dad, Poor Dad is the twenty-second of fifty-two books in The Simple Dollar’s series 52 Personal Finance Books in 52 Weeks.