Sharon L. Lechter | Robert T. Kiyosaki
1 Listen to the audio of Rich Dad Poor Dad but read this one
This is one of my favorites from The Rich Dad Poor Dad series. Although I find Robert's work often too generalized, he puts some broad based tactical information in this book. I've found with all of Kiyosaki's books and tapes you have to get repeated exposure to get everything out of them. If you've already been investing and/or building a business you may find this a bit too topical but I still found it useful.
Bill White
Pres/CEO
thebiggestdeal.com
and cofounder of sleepyourwaytoriches.com
2 Another Great Book by Robert
True to the Rich Dad Poor Dad series, this is another book you have to read if you want to become rich and to enjoy life.
Yes money can't buy happiness but it can buy you the TIME you need to do the things you really want to do. In that sense time is truly worth more than gold.
This is one of the books that will open up possibilities in your head, which is very important because if in you cannot imagine becoming a millionaire in the future then you will prove yourself right.
I see a lot of people (some of them my friends) wasting their time on useless, directionless, completely wasteful activities and then they wonder why nothing is happening to them. My advice is to follow Rich Dad's Three Paths to great wealth.
1. Increase your business skills
2. Increase your money management skills
3. Increase your investment skills
If the word investment or the other items above sounds technical and intimidating for you then this book is a big help because it is an easy and fun read.
3 Doesn't worth a penny
This guy remember me that OLD true story Of a man who promised to make gold but nerver did, and others gave him tons of money, in the hope he was going to make gold FOR THEM, through some special talent, but acttualy it waS A TRAP TO STEAL OTHERS MONEY. That is a huge fraud.
He shows no proof that he is as rich as he says and that he does all the transactions he claims in his book.
As an Administration student i feel sick when i remember i gave this guy and his crowd my money by buing one of his books.
4 good book.
this book really marked a turning point. after reading it i started trading in options and investing in real estate. its has a lot of good advice, but like his other books has no real steps you can implement. for that you'll need to look elsewhere.
5 Good as the others
Kiyosaki is an excellent author. For anyone in search of wealth, this is definitely the place to start. The lessons found in the Rich Dad series are important concepts that anyone can learn from. Apply these concepts to your own life and the possibilities are endless. I also recommend Stop Working by Rohan Hall which guides one through building cash flow and becoming a "B" and an "I".
6 Good for the fundamental fundamentals
Read any of the 5 star reviews, and that's what I'm saying. But I only give it 4 stars for two reasons.
1) RK says one of the things to do on the road to riches is to hire a personal bookeeper. Say what? Right now, I am in the E quadrant. I have one income from one job comprised of one paycheck, with no car payment, no credit card debt, and no kids. I'd be a fool to think that everything in this book applied directly to me . . . , but a bookeeper? Why? What is he talking about? I pay my few bills, I save what I can, I think about how I'm going to graduate to the B and I quadrants. Even when I am operating in those quadrants, I will take advantage of the services of an accountant, not some mysterious bookeeper.
2) And this is the major one-- RK likes Network Marketing. Now, anyone with two or more brain cells to rub together knows that Network Marketing and MLMs and pyramid schemes are cruel, corrupt, flagrant, fraudulent, cultish scams. Everybody knows this. Everybody, including the MLMers themselves. They know this, and, protecting their Golden Calf, they lie lie lie about it. I am disappointed Mr. Kiyosaki advocates them. He should know better.
Beyond these two issues, this a great book, deliberately light on hard numbers, facts, and techniques. This is about changing the way you look at things, yourself, the world, so you can then later use the numbers, facts, and techniques to your best advantage.
7 Get Rich Quickly?-Keep on dreaming!
This book is definitely an easy, motivating but shallow read.
A typical but unrealistic self-help book, I guess it is more likely to win the lottery than getting rich and stay rich with the advice of "Rich Dad".
Nevertheless, bearing this in mind, recommendable for motivational purposes as it certainly will force you to shift your personal paradigm on financial matters.
8 Very relieving
What a relief it is to realize that I will never have to depend on social (in) security, a company pension, a 401 (k) (just glorified savings accounts or that whopping .50% return in a bank savings account or 1%-2% on cd's to retire on.
I feel sad when I see people who were planning on a great retirement and believing in some or all of the above, having to go back to work when reality set in.
Kiyosaki offers a better way. His Rich Dad taught him a better way and now Kiyosaki so kindly and humbly offers the advice to the rest of us.
9 Yes you can get rich quicker today
I have to agree with the review that precedes mine indicating that it is not possible to get rich easier than ever before. The speed at which people like Michael Dell and Steve Chase have become billionaires is incredible. But keep in mind that these two gentlemen made their fortunes over a decade ago...it's even easier today.
What I like about book like Retire Young Retire Rich is that it blows past self induced limitations about wealth or even the ability to retire. If you follow conventional methods, you'll be lucky to retire at all.
Retire Young Retire Rich is must reading for anyone who wants to create wealth early and quick enough to enjoy it. Some parts are similiar to his other books and other parts are completely new.
Interesting how many unhelpful votes that CPA who wrote a very nice review here is getting (presumably from 1 star reviewers) Isn't it funny how some people have nothing better to do with their but attack successful people like Robert Kiyosaki who so kindly and humbly want to help the rest of us, discredit the guy and when someone of note comes along, they blitz that person with so many unhelpful votes? If you ask me, I think their actions are driving more people towards Kiyosaki, not away. Book sales are increasing not decreasing. And more and more people are becoming more successful than ever before.
This is an excellent book for anyone who wants to get rich quicker in todays world.
10 Can you get rich quickly?
This installment in the Rich Dad series Retire Young Retire Rich is also subtitled How To Get Rich Quickly and Stay Rich Forever.
Kiyosaki tells us that it took Rockefeller 16 years to become a billionaire in his time. And it took Bill Gates 10 years to reach the billion dollar status. However it took Mike Dell and Steve Case only 5 years to become billionaires. It's easier than ever.
In Retire Young Retire Rich, Kiyosaki pounds to death the concept of leverage. One chapter I found interesting was the leverage of generosity. Kiyosaki discusses how his Rich Dad taught him reciprocity and service. He states an age old law "Give and you shall recieve." Kiyosaki says thath is rich dad taught him that if you want to be rich, you must first be willing to serve as many people as possible.
Aaccording to Kiyosaki, Rich Dad believed inthe law of reciprocity and in the idea of being generous was the best way to becoming very, very rich.
Kiyosaki also talks about networks and network marketing. He goes on to discuss the power of networks and the importance of leverage ratios and goes on to say that you can b ecome exceptionally wealthy in a short period of time by doing so and at a fraction of the cost.
I noticed that Retire Young Retire Rich is recommended here by a Nationally recognized CPA. I am glad that people of quality appreciate Rich Dad's and Robert Kiyosaki's work.
I'm with a company that does business around the world and the most successful people I know are exercising the concepts espoused by Kiyosaki and are becoming very wealthy as a result.
So can you.
11 Probably his best book
I read Rich Dad Poor Dad, CASHFLOW QUADRANT and RICH DAD's GUIDE TO INVESTING first and learned something new from each book. Retire Young Retire Rich is ideal for anyone who is sharp enough to realize the folly of betting on social (in) security, a company pension or a 401 (k) (should be called 101 (k) based on what they are worth after following your company's advice)
With the advice in Retire Young Retire Rich, we all can truly retire young and retire rich.
12 Deja vu
I read this one after reading Rich Dad Poor Dad - the first in the series. I can't say I learned anything new. The author's point of view is made clear enough by the first book, and as I put this one down I got the feeling it was time to move on to books by others, and broaden my perspective on the subject.
13 How to Retire Young and Retire Rich-A world w/o paychecks?
Robert Kiyosaki started with nothing and in less than ten years, retired financially free. He enjoys a lifestyle that we all wish we had. One of the first mindsets or mentality that he had to change was to succeed in a world without a paycheck. This is in a world that practically deifies a job and a paycheck.
Kiyosaki explains that most people have 50%-100% of their income is from earned income from a J-O-B. BIG MISTAKE! Those who retire young and retire rich do so from portfolio income. From passive income. From residual income.
How do you do this? You create a business. It can be network marketing or a franchise (if you have that kind of money sitting around or the ability to borrow it) Or it could be real estate (my choice--no downlines, uplines, sidelines, monthly quota's, sales volume requirements etc.) Or you could write a book. Self publishing is flourishing today because many people have excellent ideas and eager to disseminate these ideas in the form of a book.
Retire Young Retire Rich is an excellent book for anyone who regardless of their present income or level of wealth, wants to retire financially free and financially independant within 10 years or less.
Great book. Maybe his best to date.
14 Kiyosaki Actually Did It
Robert Kiyosaki "retired" when he was only 47 years old. (His wife was only 37 at the time.) Most people would consider that an early age at which to retire. In order to accomplish this, you need a "fast" and "sure" financial financial plan.
The way to do this is to use the power of leverage, otherwise known as "other people's money" (OPM). Kiyosaki's vehicle of choice was real estate, and he credits mortgage brokers with enabling his early retirement. That's because he was using their money to retire (through mortgages on his apartment houses), rather than his own money. He is a "value" investor who invests for cash flow and depreciation (read, tax breaks), which are known ahead of time, rather than appreciation, which is uncertain.
In fact, Kiyosaki's "fast" plan is really about getting other people to help you get ahead financially. For instance, if you own 500 (fully rented) apartments, and each unit yields you $50 a month after mortgage payments and expenses ($600 a year net), that's an income of $300,000 a year. The more units you own and the more people you serve, the more money you make. The greatest opportunities lie in low income housing, where the U.S. government wants "qualified" (experienced) landlords to help it solve the problem of housing poor people, and will provide generous subsidies. Alternatively, you can own and manage one or more (small) corporations using teams of people that you assembled yourself. If you know how to work with different types of people, you can "play the fastest game in the world."
I am looking at my 47th birthday as an opportunity to "retire" in a similar fashion to Kiyosaki. I believe I have a "critical mass" of capital, although I don't have his experience with turning around failed companies. Will his methods work for me? I'm about to find out.
15 A Great Book to Read If You Want to Retire Rich and Young!
I was so excited when I first read this book and I am still excited after reading it two years later. It is great to have a book that goes through a personal story and then tells you how you can apply the ideas in your life in many different ways. Robert and Sharon did well with this one. If you want to build a future for yourself outside of the rat race, this book is a must read.
16 A change of mind
This book is good for people who doubt whether or not getting wealthy in life is easy. It's all a matter of the right mind set. When people hear that it's about the state of mind they're in, they tend to blow it off thinking they've heard 'that' before. This book tells you why you need to change your thinking and how to go about doing it. It not only tells you how to change how you think about the world but goes into technical details on shorting, calling, and putting stocks. True, Kiyosaki is mighty proud of his boardgame, Cashflow 101 in all his books but that shouldn't distract you from learning how to change your context. Kiyosaki gives practical easy to follow advice in this nice follow-up from the Rich-Dad series. It's very easy to go from reading Rich Dad Poor Dad to this book without having to read any of the others (Cashflow Quadrant, Guide to Investing) in between.
17 An enlightening novel
This is the novel that did it for me. It is the third novel of Robert T. Kiyosaki's that I have read. I also have read Rich Dad Poor Dad, and Cashflow Quadrant. The first two books were exciting to read, the information in them is priceless. But this is the book where I finally realized the power of what I think. There is one particular line that I remember especially, First identify what I am afraid of, then ask myself what I want instead, then ask myself how to get it. As he says repeatedly, it is not the content that matters as much as the context. I don't know if I really understand all the stuff about leverage. But what is more important than that, is that I limit me. My thoughts limit what I do, and they also allow me to retire young and rich. I don't know how someone can't like these books unless they are a cynic, arrogant, or lazy. I encourage you to buy this book and read it. And then read it again like I am going to do.
18 IT'S ALL IN THE MIND, SO TRUE
Of all the RICH DAD books this is my most favorite.
Why? Simply because we've got someone who can walk the talk, telling us that most of the resistance we experience in making money is our own limitations.
It didn't make sense when I was working a day job. Sounded like a bunch of huey, really, but, once I started down the entrepreneurial path, that all changed.
I'm in total agreement. Most of the limitations Americans experience with wealth is all in their heads.
That said, for those willing to take a deep look in themselves and who are willing to grow, this is one of the best books on the matter.
Highlights included:
(1) The most expensive advice is free advice b/c the wrong advice can destroy you. How many times do we take advice from next door neighbors about stocks when they know nothing, or, almost nothing? What does this have to do with mental limitations. Plenty. The people we associate with or want to believe can hold us back if their advice isn't accurate. I wouldn't take advice from journalists on TV, who make less than 100k yet give advice on the stock market daily, would you? Well, lots of people do listen to them.;
(2) The power of expanding one's reality. How many things do we feel are not true yet are? Wasn't their a time when we believed man could not fly and now we can fly?;
(3) Why do most of us not have a financial plan? Why do we rely on the govt to take care of us? Why do we choose to not have a long term plan?;
(4) Why the language we use restricts us even if we choose to believe it. If we say CANNOT or SOMEDAY how does that make us feel? How does it not serve us?;
(5) Setbacks and how they help us. Most people give up when they're really close.;
(6) How to create a winning team to assist you;
(7) The velocity of money application; and
(8) all types of leverage to achieve our financial goals.
Highly advised reading.
NOTE: seems like there are more Kiyosaki negative bashers, to, let me list some hard results. Before these books, I made about 50k per year. Now, I make triple that. These books were part of the reason. I meet a lot of people who talk negatively about RK and who complain about their financial lives. No surprise.
19 Changed how I thought about money and spending
This was a great book for me because I am very good at SAVING money, though not very good at spending it. This book changed how I thought about what it meant to be rich. Some of the richest people I know do not work very hard. There is a reason for this, and the author explains this in a way that will get through any thick skull. I began to read this book less than one month ago, and have already stretched to purchase rental property that will soon be profitable. Though it isn't totally comfortable (or in my "reality" as the author explains), I am convinced it is the best way to achieve financial independence and work now toward working LESS in the future. I thank the book for this confidence.
A few notes about Robert's writing: if you are looking for a book that defines a "recipe for success", this is not it. If you're looking for an eloquently written book, this is definitely not it. BUT...this book explains, sometimes philosophically, what it means to have other people's money work for YOU and for YOU to control when and how you pay your taxes. He makes many references to other books in the Rich Dad series (which I have not read), but summarizes those references so you aren't lost as to what he is talking about. He gives many examples from he and his wife's life in where their decisions have taken them. He DOES NOT tell you to go out and buy A, B, or C. Those are for you to determine based on the lessons.
This books sticks in my head throughout the day, and in my decisions about spending, investing, saving, and working. I am thirty years old, single, and feel like this book was some of the best money I spent, and even better that I did not wait ten years, or until I was married, or even until tomorrow, to learn these lessons.
Highly recommended by this reader!
20 Being A Lifelong Learner
Kiyosaki encourages us to never stop growing as we often do once we finish school and get a job. In the private sector many of us put blinders on to achieve that one narrow goal of working hard to attain that better position with better pay to afford better things. This causes us to become less human and more and more like a rat in the way we think, behave and treat eachother.
Part of being a complete human being is to lead a well balanced life that continues to grow everyday by learning new things. In addition to keeping life interesting, this learning will help us to achieve our goals while being in harmony with our environment by giving and taking from it what we need to achieve that goal. Lack of proper knowledge and wisdom leads to fear, insecurity and many times trouble.
Kiyosaki encompasses the idea of being a lifelong learner, to obtain information about a particular goal, make a plan, put it into action and then refine that plan from the information obtained thus continuing the cycle. Indeed there are no mistakes in life but only lessons to be learned. He also writes about creating your own reality which enables one to ignore the negative comments from others who through their own fears and insecurities have become rats.
The mind needs to be excercised everyday...challenged, to be put in a place that it's not used to being in by thinking "outside the box". Only through this philosophy may we create the ideas necessary to turn our dreams into realities and then dream some more.
If you'd much rather be a human than a rat, then you should read this book.
Those that wrote negative reviews did not truly understand this book. Although it offers general financial principles, it does not give the reader a specific exterior "get rich" plan. It explains that the individual needs to find from within him/herself an ever-expanding way to see the (financial) world around them which is constantly changing.
21 Is this a book or a biography??????????? cmon robert
I will start off with, DO NOT BUY THIS BOOK! I heard alot about this gentleman and figured id read one of his books. I first thought, hmm , well maybe it will get more interesting as I read on. Well I read the book cover to cover and it was nothing more than him rambling on about how him and his wife made their millions but nothing about actually HOW TO DO IT! Yeah he had a couple good points (*note..a couple), I'll give him that. He needs to stop talking about himself and his "rich dad" and write about material people can actually use. Sorry Robert.........But ive found Russ Whitney!
22 Kiyosaki owes me 1 star
Robert Kiyosaki does a disservice to his readers by presenting unrealistic scenarios of easy profits. If it truly were so easy, the deals would have been snapped up by now. His comments on stock tips, housing depreciation, and expensing watches and vacations as business costs are not only inaccurate, but ILLEGAL. His disdain for education is reflected in his poor writing.
23 Not another "Get Rich Quick" book... Thank Goodness
I would first off like to address the person who said that Kiyosaki "ignores the fact that 9 out of 10 small businesses go belly-up in the first five years". First off, negative thinking will get you nowhere. Second, in my reading of this book, Kiyosaki in fact mentions this fact at least THREE times in this book in sufficient detail. Kiyosaki acknowledged this as a fact but also mentioned that it also means that 1 out of 10 small businesses are succesful. Meaning you have to be willing fail 9 times. You learn more from failing than winning. If everything was easy then everyone would be rich. He mentioned that one of his friends lost $1,000 on 14 straight trades, but made $50,000 on the very next one. The reason why a lot of people do not like this book is because they are perhaps expecting a "get rich quick" scheme; we already have enough of those.
For those that understand where Kiyosaki is coming from, his intention is NOT to tell people HOW to get rich quick, instead it seems to me that his main goal is to get people out of the context that they have to work for others and depend on these people in order to be rich. For most people this is not going to happen, as long as your working for someone else no matter how much you make, you will NEVER be truly free. Until people realize this they will be forever trapped in this world we call corporate America.
Kiyosaki does an excellent job in this book, he again hammers home the fact that "How" to get rich is not nearly important as "Why". Once we have our "Why" the "How" part becomes easier. The points and "lessons" he uses in this book can be retitive, however this is nessacary in order to get his point across. One point that he made that continuously sticks out in my mind is that the more money you make at your job, the more you become dependent on your job to take care of you. This is why he said his "Rich Dad" made him and his friend work for free so they can come up with ways to make money on their own.
If any of us were forced to work for free, I think we would be VERY motivated to find other ways to make money. In this case our "Why" would be simple. The reason why our "Whys" are so hard is because most of us our "blinded" by our salaries. But in reality we are working for nothing. The money we do make is taxed heavily and even worse, our companies could reduce our salaries or even worse lay us off anytime they get ready. After we are laid off, what do most of us do? - Find another job and the process starts over again. I admit I am still caught in the rat race at 26 but after seeing what my company is starting to do and how they treat their employees, I am beginning to realize the importance of working for myself and not for someone else.
Again the point of this book is to find our "Why" in order to get out of this rat race. Many people will not like this book because it gives very few specific examples on how to get rich. (He does however mention Real Estate and the Stock market numerous times). Different things work for different people and the key is to FIRST find your "WHY". After you find your "WHY", THEN find what YOU like and WANT to do, not just blindly DO what someone else did to become rich. If you are looking for a book that will change your CONTEXT and thinking about money and WHY you would want to make it for yourself, then this book is for you, however if you are looking for a "Get Rich Quick" program, then you are better off staying up late and watching the endless informercials that come on TV.
24 Skip This One
I would advise to just stick with the first three books in the series (Rich Dad Poor Dad, Cashflow Quadrant, and Rich Dad's Guide to Investing). This particular book is just a "condensed" repeat of the first books and it's really a waste of money and time.
25 Boring and too Conceptual
I just took this book out of the library today and plan on returning it as soon as possible. Robert Kiyosaki is rehashing what has been said for many years. It is too conceptual for my taste. I gave one star due to the fact that Kiyosaki was able to make a fortune of money by getting people to buy his books.
Don't waste your time reading this book.
26 Motivational With Great Ideas
This book is primarily a motiviational tool, at which I think it does a great job. It gives you some broad ideas of how to go about Retiring Young and Retiring Rich, which you will then need to research further once you select your avenues. The main thing here is that it is easy to read, makes a lot of sense and really makes you feel like you CAN achieve your goals if you are really willing to put forth the effort. I think he does a great job of explaining the difference between "thinking" about retiring early and actually putting a plan in place to DO IT. I find that re-reading sections of this book get me going again on moving ahead -- it's like a kick in the pants to take charge of my own financial future. A great starting point for those who are even considering an early retirement.
27 Caution is advised...
RY RR, and basically all of Kiyosaki's books, are motivators. They try to rev up people about going out and being creative in their finances and working outside the traditional job market.
Ok. That's good. Most people ignore their economic health far too much and ignore possibilities for creative investing / owning a business and thus scuttle their chances for a comfortable retirement or financial independence.
But Kiyosaki, while giving the reader no hard data, seems to think that owning your own business/investing in real estate is very easy. He encourages people to quit their jobs and work for themselves. He ignores the fact that 9 out of 10 small businesses go belly-up in the first five years. He ignores the fact that many small businesses never make sufficient profits to for a famliy to live on. He ignores the fact that real estate has business cycles, management can be a huge headache, and there are many hidden costs that can cripple small scale investors. What are these people supposed to do now that they've blown their savings and have no job?
Motivation is great, but without education novices are going to fail. Kiyosaki provides nothing beyond the most rudimentary education in this or pretty much any of his books. He does encourage further reading, but he really needs to inject a bit of reality into his books.
Furthermore, Kiyosaki appears to be making up most of his personal experiences. A review of the Maricopa County, AZ assessor (where he lives) shows that he owns only two properties: his own home(worth far less than he claims) and one possible single family rental. Not what the reader is led to believe. Historical records also indicate that he wasn't exactly the real estate mogul that he implies to his readers in the 80's and 90's in AZ. He did own a few properties, but his net worth and passive income could not have possibly been what he claimed based on it. It's also doubtful if he made the kind of fortune he claimed before his books hit it big.
Even the omniscient Rich Dad appears to be a myth. Seems like it'd be easy to track down the multimillionare who lived on the same street as Kiyosaki when Kiyosaki was growing up. But nobody living or dead seems to fit the bill. In fact, nobody living or dead in Hawaii seems to have owned the variety of businesses that Kiyosaki claims Rich Dad owned. Couple this with the fact that Rich Dad doesn't get an acknowledgment in Kiyosaki's early books (which give acknowledgements to pretty much everyone else, including his Poor Dad), and it seems that we're all being swindled.
So, take this book with a big grain of salt. Use it to get motivated about taking your financial destiny in your hands, but please learn from qualified advisors before you risk everything.
28 Powerful and timely advice--Pure Genuis!
With major companies continuing to layoff en masse and the stock market still an uncertainty, Retire Young and Rteire Rich offers both timely and powerful advice.
Citing myself as an example, I became my own financial advisor back in April 2002, dumped the expensive loaded funds and boring stocks that my broker had me in. Replaced them with no load funds and powerful stocks and also started using options.
I also took Rich Dad's advice and started to "mind my own business" exiting the "yes master", trade time for money employee syndrome and started my own business. Not only am I making more money, but having a lot more fun to boot.
What turned me around? The opposite thinking as espoused by Rich Dad between the middle class and the rich.
For example, the middle class think:
A safe and secure job (dream on baby!)
A big house (house is your greatest asset!)
Save money (take no risks!)
The rich are greedy (hmmmm??)
Here is how the rich think:
Start a business (greatest security is working for yourself)
Buy apartment houses and rental properties (real assets)
Invest (saving money is the real risk)
The rich are generous
I used to think that a high paying job was the way to go. Now I
know that real wealth comes from cash flow from assets.
President Bush's new tax plan will make investing even more profitable and the best news is that this is available to everyone, not just the rich.
I highly recommend Retire Young Retire Rich to help you reach your goals.
29 No rocket science here !
This book does not really teach you how to invest in order to retire young, retire rich. It basically tells you to read more, learn more and be more adventurous in investment. This book does not teach you how to invest in order to retire rich, retire young.
30 Powerful and pragmatic
Robert Kiyosaki and Sharon Lechter sure take on the establishment and blow a hole right through commom misconceptions about wealth.
Forexample, many people think that investing is risky. No so say Kiyosaki and Lechter. In fact, they go on to explain that not investing is risky.
Buy and hold? Invest in blue chips (or is that blue jips?)? Dollar cost averaging? All taboo.
Social security? Hah! And how effective are 401 (k) plans? According to ther authors they are about as effective as savings accounts. Before you blast that concept, look at your 401 (k) plans and how they have performed over the last three years. I rest my case!
The authors also discuss the huge (50%) capital gains tax 401 (k) holders will have to pay as they withdraw their money. Many people are not prepared for this and unfortunately, many financial professionals never disclose this to their clients.
Imagine current retirees paying a 50% capital gains tax on top of the 50%-75% loss in capital from the bear market over the last three years--Ouch!
The advice in Retire Young Retire Rich is powerful, timely and pragmatic. I also recommend Rich Dad's Prophecy and Rich Dad's Guide to Investing.
For more advice on options, I recommend The Option Player.
Follow the advice and you too can Retire Young and Retire Rich!
31 This book isn't worth the paper its written on
Luckily I checked this out of the library first All he does through out the entire book is repeating and reiterating the same concepts over and over. These concepts in my opinion are nothing but vague ideas, which I find are not helpful
32 Just milking it...
Read "Rich Dad's Guide to Investing" and forget about Kiyosaki's other books - the third book in the series captures all the ideas this man has. If you must, browse through the other books in the bookstore - you will realize that the information is repeated, and that you can save a lot of money by not buying his other books.
33 The power of leverage
Like some other reviewers have noted, I initially looked at Retire Young Retire Rich with ambiquity feeling that it would just be a rehash of the first three books. No so. RYRR is 21 chapters and 338 pages packed with powerful information that you won't find in any of Kiyosaki's other books.
This book is primarily about the power of leverage. It demonstrates hoe Kiyosaki started with nothing and retired financially free in less than ten years.
Kiyosaki further breaks the book down into three sections:
-The leverage of your mind
-The leverage of your plan
-The leverage of your actions
How important is leverage? In quoting his Rich Dad, Kiyosaki states; "People without leverage work for those with leverage."
Leverage is one of the secrets of the rich. It is how Kiyosaki was able to start without money and amass a fortune...and how you can too.
I highly recommend RYRR, that is if you would like to retire young and rich. Work smarter instead of harder.
Good reading and good luck!
34 Thinking in the right direction
For those who have read other Kiyosaki books, you won't take away any significant new information from this book. It's worth a read if you need a mental refresher course in the Rich Dad basics. Personally, it got me thinking in the right direction again after going a few months without action toward my financial goal, so in that sense, it was worth my time. I'd recommend borrowing it or checking it out from your local library. The money you save may be better spent on a title more specific to your investment interests.
35 Same book, different title
...Retire Young...., however, is a sleeper. Same ideas in a new wrapper. Mr. Kiyosaki has retired rich and continues to get richer on this fluffy tome. While the title is compelling, this achingly dull book takes over 300 pages to sell one idea. That idea is to expand your mind far enough to grasp the idea that one can retire young and rich.
Great. Done. Now how do I do that exactly?
Well, that's "beyond the scope of this book". Mr. Kiyosaki introduces the idea of options trading which is exciting and new to me but does not recomend where I can learn more about it. (Go to the library he says. Maybe a suggestion of an author or title?)
Save your money. Buy it at a deep discount if you must. Or better yet. Go to the library.
36 Multi-Faceted Motivator Backed-up With Practical Insights
This approach will be different from other reviews on this book which focuses on the surface-level mechanics of the facts and the strategies that are very generically presented by the author. However, in a philosophical context, there are many elements in this book, and it isn't one of those "get rich, retire young-how to" books. The variety of concepts in it can help people in sales, in starting their own business, and thinking more carefully of the Risks and Rewards of their actions, whether financial, personal, or professional. Overcoming self-doubt, fear, negativity, laziness, learning from our failures, and consistently thinking "outside of the box," are many things Robert Kiyosaki reminds us of in this piece. And he's also "been there and done it."
For Kiyosaki, the concept of failure is important to the learning experience, and what we learn from our failures in life can help us succeed in the future. Kiyosaki related the failure of his first two businesses and his own self-doubt at a certain period of his life (in the beginning of the book). He noted this about who his Rich Dad and he think losers are: "many losers bet only on sure things....job security, a steady paycheck, garaunteed pension, and interest from a bank account." another quote: "the problem of having a job, is that it gets in the the way of getting rich," his Rich Dad said. I see this statement as clear and true for not all, but most people. For example, look around at the people you know. They've got a "job" that took up the majority of their mental and physical energy and time. They bought a home with a mortgage. Endgame: like a hamster spinning on the wheel. The illusion of movement. This person is now the leverage for his/her employer, the one who really makes the money.
Some repeated themes which we should be reminded by is what Kiyosaki stated numerous times in different ways using different real-life examples: "What we think is real becomes reality, in most cases" (p. 54). He adds that we human beings often try to substantiate and reinforce our beliefs and perceptions of reality. This can lead to self-defeating behavior and/or missed opportunities to see the opportunities that present themselves in front of us. "One of the most important things to learn is to take control of your reality" (p. 54). If one is a pessimist, has self-doubt, or believes "it can't be done," it won't be done. R.K. reminds us these truisms affect the decisons we make in life.
Throughout the book there is redundancy, but there are mostly positives here. He also incorporates some of the principles of his Cash Flow Quadrant in this piece. He has the reader fill in a list of things that the reader loves/hates. Also important is the constant need to ask and answer "why" you are doing anything in life. Not the "how" you do it, but the "why." He correctly asserts that if you know "why" you you can then focus your energies on the "how." R.K. sheds light on how bad believing in a 401k, and mutual funds is. This is a practical common-sense guide and a positive motivator. Read this to keep yourself continually thinking "outside the box."
37 This Book is Fiction
I have been a reader of Kiyosaki for quite some time. Yet I've learned that this book is fiction. I have read in numerous places that there is no evidence whatsoever to substantiate any of Kiyosaki's past businesses or even the existence of a rich dad. He has refused to comment when questioned about it. I didn't believe it, until I took a look at the copyright page: Although based on a true story, certain events in the book have been fictionalized for educational content and impact.
38 Enjoyable Reading
After reading some of the other reviews, I just want to say this is not 'How to Retire Rich for Dummies'. This book was my first in the Rich Dad series, so I cannot compare it to the others. Personally, I found this book enlightening and inspiring. The author is writing to intelligent individuals to spark desire and motivation, not teach step by step instructions. I am planning to read other books by this author. For those who say the author is trying to sell more products -- might I suggest going to your library and borrowing them instead.
39 This Book is like a "Power Bar"....
Not a lot of nutritous or fulfilling substance, but it does get you pumped up pretty good. I agree with other reviewers that the book is short on specifics. To be fair, however, Kiyosaki never claimed that this book would have a lot of specifics.
On the up side, however, I felt very motivated after reading this book, and, came away with some general ideas.
I can't help but wonder two things, however:
1. Is this book simply written so vaguely that you make out of it what you will?
2. Was "Rich Dad" omniscient and ominpresent? It's amazing how many fables, fairytales, bible stories and diagrams he seemed to teach for every occasion. Just a thought--you draw your own conclusion
40 Robert & Sharon deserve a prize!!
I read this book after reading "The Retirement Myth" -S. Kerpel. Robert and Sharon deserve a prize, atleast from me. After reding this book, I`ve even switched to a job that gives me more time to "Mind My Business" though my paycheck is now "thinner"
It is a must read for all employees -Please try it
41 Flip through it in a book store
I agree with the more negative reviews of this book. The writing is wordy/slow/redundant which makes the little information that is provided all the more frustrating. This thing could have been summed up by:
1) Think about how the government taxes different types of income.
2) Start a business.
3) Buy investment real estate.
The rest is just filler or misleading. Flip through it in a book store. Ignore any information on trading options etc etc. Options are a very complex instrument and other books are far far more useful than this little "intro" (come on R.K. do you really think Mr. and Mrs. Wanna Be are going to start trading options with that little bit of information ? Dangerous at best)
Better yet buy "Fooled by randomness" for a reality check on investment concepts.
I would have given the book one star if it did not make the reader feel a little "better". So one star for content and one for "feel good".
Save your money .....better yet save your time. The original Rich dad/poor dad book is pretty good. The rest Rich dad/Poor dad are permutations on the same theme.
42 Good advice
Kiyosaki's inspirational, easy-to-read books are written to excite the reader about available financial opportunities. And they do excite the reader. It is easy to get caught up in the author's enthusiasm. The generalizations are great and allow the reader to dream, but more details are needed. In this recent book, Kiyosaki stresses the need to protect your assets. He spends an entire chapter (17) on how stock options can, and in his opinion, should be used by all investors to gain that protection. His discussion was convincing, but again, there were not enough details. I recommend THE SHORT BOOK ON OPTIONS to learn those details. The reader would then be in position to follow Mr. Kiyosaki's good investment protecting advice.
43 Few specifics, lots of repetition
This book is okay. Mostly it encourages you to get your mind ready for being rich rather than just assuming that you never will be. Unfortunately, it spends the first 200 or so pages doing that. Eventually, it gives cursory treatments of real estate investing, stock options, and building businesses. Unfortunately, it never tells you *how* to do anything.
If you are hoping to educate yourself on how to make a plan for retiring young and rich, do not buy this book. If you want a feel-good book to get you pumped up about retiring young and rich, then this book is for you.
44 This Guy is a Con Artist!
This guy is the latest in a forever march of con artists trying to sell kook ideas with a book. I read the book and researched the writer, his background cannot be verified nor can his income, but I am sure it is much higher after selling this book.
He is a low middle class reaching for the upper class, by giving
middle-middle class the "shakes" on how they will die penniless
and destitute in future unless they end their $inful way. There are two ways to make money, you either earn it or inherit it. So that making yourself nervous and get busy doing one of these, hell go find a rich wife or husband!!!
45 Change your concept with this book
Rich Dad Series
Retire Young, Retire Rich by Robert Kiyosaki
This book is more updated for this economy and has some interesting points in it. The main thing is to change your concept of what is possible. I have heard this saying many times, if you believe it is possible, then it will be possible for you. Next, he suggests that we get as much knowledge in the real estate rental business as possible. Take courses, read, and look at hundreds of houses. I would also suggest calling people who are advertising their homes in the paper, and ask them what response they are getting. I firmly believe that having some money in real estate is great. I don't think it is as passive as he says it is, but if you get great tenants, then it will be a lot better on your life. I know from my experience I was paying my landlords mortgage on both houses with my rent. He had almost no expenses on my part. I don't think real estate market will zoom up in the Bay Area in the next few years, in fact, I think it will go down. But, I do believe over the long run, this area will pick up. Robert says to make sure the house is cashflow positive as soon as you buy it. Don't hope for apprieciation to make it profitable. I like that idea. Also, he says, it is much better to buy in a down market than an up market. During the up market, learn the market well enough so that you can spot bargains. He did not say much about buying foreclosures. I guess if you have a good enough real estate agent, then he or she will be able to find some good deals for you.
He talked about investments. I did not agree with him on options - they are risky and most people lose on them. If you really know what you are doing you can make money, but very few do.
I did like that he says you should ask yourself what lifestyle do you want to live when you retire. I feel that I would love to have $500k annual income when I retire. That will let me live the lifestyle I desire to live.
I highly agree that I need to have friends that have a bigger dream in their life. I need to hang around people that are going to make it in life, not ones that want to barely hang on. I have met very few in my age group who really have that attitude, and he says that these people are harder to find, but keep searching.
The main idea I got out of this book is that it is possible for anyone to become financial independent if they really make it a goal and work intelligently towards it. I feel the real estate market will take a dive in the next year or so in the Bay Area, and I will be prepared to get some bargains and make some money.
Beware of the sales stuff in this book. He is trying to sell his other books which I think are great.
46 Retire Young, Retire Rich
This book is in many ways a summation of his earlier books but I liked it better than the others. This is not a "how to" book in the traditional sense it is a motivational book on how to "be". I read Rich Dad in 1999 and since then these books have motivated me to change my life. I have gone from a low six figure income (1999) to almost a seven figure income in three years and much of it I attribute to the thought process I have learned through these books.
The book is easy to read but virtually impossible for most to grasp the concepts presented. I have reccomended the books to many and often those I reccomend them to rarely finish reading them. The concepts presented are just to radical for most and down right scary to others. But hey, the world needs E's and S's too....
47 Not worthwhile for people who read his first threes
I know his purpose is to help readers learn by repetition and examples, but this is the forth book, I expect something new!
48 RY, RR Review
I feel as if this book has been given a lot of unfair reviews...
It seems to me that many people that read Robert's books feel like they should simply be answers on how to get rich. We don't want to hear about how to think, we want to learn how to take our $25K income or whatever and turn that into millions. Of course, as Robert has mentioned in his books, the answer isn't the same for every one of us.
The point of this book, as well as the other four in his series are to introduce to us new ideas about our own financial goals, and then allow us to decide which route we will take to reach whatever our goal is. This book, while repeating some of the same lessons learned in the other books, further explains a lot of the concepts that we have been shown.
The bottom line is, if you want a book that for ($$$) tells you exactly how to make millions, this is not it. If you want a book that will help you to grasp the concepts required to start yourself on a path towards becoming rich, this is definitely it.
49 Retire Young, Retire Rich is disappointing
This was my first foray into the "Rich Dad" series. I decided to pick this up to see what all the hoopla was about. This book is long on concepts and improving your mindset and short on telling you HOW to accomplish the goal.
Kiyosaki drones on, frequently referring to his other books. After the first few chapters, I gathered that his plan is to invest in real estate and start your own businesses, but there is no substance to tell you where to start DOING any of these things. I guess that I was expecting more of a "how to" guide to achieve the end result.
Now that you know what you SHOULD do, skip this one and go find a nuts and bolts guide to real estate investing or starting your own business.
50 Nothing new here.
Just another real estate huckster hawking the "Quit your job and buy Real Estate and my other products" approach. Go to any used bookstore, look in the real estate section and you can buy these concepts for a couple of dollars. RY, RR is nothing but a catchy new cover on old material.
Twenty years ago I read Bill Greene's "Think like a Tycoon". THAT'S THE BOOK YOU WANT TO READ!
Retire a little richer and pass on this one.
51 A "MUST READ" if you want to be wealthy.
Robert doesn't give you any "get rich quick" schemes, this is a straight forward, easy to read book about changing your mind set in order to obtain wealth. You cannot become a wealthy person without thinking like a wealthy person first. This book is very similar to "Rich Dad, Poor Dad" because it makes you question your core beliefs about money and how to obtain it and how to stop having a "loser" or "chicken little" mentatlity. A lot of books out there give you the details of what to do but do not discuss the personal psychology behind wealth-buiding. I was introduced to Robert's books almost 3 years ago by my father at the beginning of my college career and have taken all the steps necessary to ensure the fact that when I graduate in may of 2003, I will not have to type up any resumes, go to any job fairs, or interview for a future career with XYZ corp. of America because I started a business, heavily invest in real estate with my business partners, and continue to learn about wealth buidling tactics. If I can do this before I graduate from college, anyone can, you just have to change your mindset from a person who works for money to a person who lets money work for them.
52 Insight to reviewers
After reading several of these Rich Dad books including Retire Young, Retire Rich as well as many of the reviews here on Amazon.com, it is easy to spot the reviewers who have a chance of being rich and the reviewer who will be stuck in the same rut they are in. Those who rated 4-5 stars are embracing the new concept and those with 1-2 stars think they know it all already. This series of books is excellent. There is much repetition, but it is important to keep driving the message home. One read may not sink in. There a lots of books about "how-to-do" these books are about "how-to-think"
53 Good Book, too many plugs
Mr. Kiyosaki's ideas and strategies can be used to help people diversify an investment portfolio. Generating alternative means of income is an important point he stresses. This book is an easy read with an upbeat pace. The motivation and dedication he lives is illustrated in the flow of the book. However, too many plugs for his other books and books of his friends are listed throughout the book.
54 I love this book :)
A lot of people are bashing here his books. I wonder why?
Some are saying he is vague, some say his examples are false or made up.
I agree with them but I think Robert is doing it for the right reasons:
Being vague: as Robert said: he's writing these books to open up our minds, not to give us a detailed plan to follow up on. Every reader has a different background. Some are poor, some are middleclass, some are rich. They are different in education, some are still in highschool, others are studying on the university or already working. And working people can vary from lawyers to repairmen to computerprogrammers and many others. And his books are sold all over the world so there are even different society's involved.
With so many different people it's impossible to write some basic plan which applies to everyone.
That's why he's vague, he's giving you the principles, the mindset what is most important.
About his examples: I agree with the opinion of the people most of it is made up. Some things are too detailed in my opinion. For example: he recalls about a conversation with his Rich Dad from 30 years ago and writes some silly things as: "bla bla Rich Dad said, he smiled and nodded".
It's not very believable that he can remember such details. Plus that sentence "he smiled and nodded" just shows up too much in all his books.
A lot of the things Rich Dad says is knowledge that showed up in the 1985-2000 era. I can recognize a lot of Anthony Robbins NLP, Stephen Covey 7 Habits and others mindsets in the Rich Dad books.
So how is it possible Rich Dad in 1960 and 1970 uses knowledge that has been invented in 1990?
Example: Robert talks about conversations he had with RD in his youth (like when he was 10 years, that should be around 1960). RD gives advice (knowledge) which was invented (written on paper) around 1990.
Conclusion: there probably is a RD, but a lot of things RD said is made up by Robert.
Why is this positive?
Robert is an excellent teacher: he uses knowledge from NLP and 7 Habits and other sources to give us the information and mindset in an understandable way. He simplifies difficult financial matters with a story just like Kenneth Blanchard did with "The One Minute Manager".
He gives his knowledge in the form of stories because that's easier to understand. He gives advice in the form of talking about himself instead of pointing his finger at you and say: "you should do it this way". (that's Habit 6 of Stephen Covey's 7 Habits).
So in conclusion:
The purpose of the book is to introduce you to new ideas and mindsets. It's not a detailed plan for getting rich quick and it never pretended to be.
The stories are made up, but so what? He wrote the book to teach us and if he does it by making up half of his stories, fine by me.
By the way: I loved the One Minute Manager and Who Moved My Cheese :)
Final thing: people are complaining about a lot of repetition in his books and how it's a cheap way of making more money with the same stuff.
I disagree, as any good teacher will tell you repetition is the mother skill. Robert keeps repeating things which are important because we learn by repeating.
For your information: each time you repeat something it gets nested better in your (subconcious) mind. It makes more connections with other pieces of information in your brain.
Ok, that's it for my review of this book, thanks for reading :)
55 Great Reading if You're Really Into Getting Rich
I honestly expected to see only 3 stars (or less) for this book, especially since the author himself admits that he wasn't much of a writer (it shows). I can also understand how he can give people the wrong impression and rub them off the wrong way. But as he himself says, it really boils down to what your reality is, and changing that reality if you want to change your life. He does have an entertaining and thought-provoking book. Even though his writing is simple and sometimes elementary it does make for a good and fast read. Of all the books he's written, this is probably the one I like the best, because he talks about the power of leverage, and using your mind. He does tend to pass off things as easier than what they are, such as investing in real estate and trading options, and especially with the latter, I'd not recommend jumping into that so soon. I also wouldn't necessarily go out and buy the rest of his products. My point is, if you honestly want to become rich, you don't have to buy his products or even his books (I have bought 3 already, but only because I found I liked reading them). If you are serious about the pursuit of wealth and happiness, then this could be your guide. However, that's all they are -- not all the self-help books, seminars, games and gimmicks will make you rich, if you don't make the principles yours and apply them each day. Being rich is really just a state of mind. :-)
56 Some gems, but some details missing
In general, I like the way the author helps you start believing that you can do more with your life than climb the corporate ladder. I had been interested in real estate investing, and I am even more so after reading this book. However, I will still need to study other resources before taking the first step.
In addition, he refers often to network marketing businesses with going into much detail. I have a fairly negative view of those businesses, and there wasn't enough information to help me change my perspective.
The bottom line, however, is that now as I drive or walk around my area, I wonder if a business might be available to purchase. I notice apartment buildings and whether they have vacancies or not. I wonder what sort of rents are being paid. It has definitely made me see my world in a new light, and it has prompted me to buy additional books to read over the coming weeks.
57 Overall good book.
The book helped me overcome several of my self imposed limitations, and also helped me understand the roots of my limitations. (Think outside the box as Robert puts it). All in all, I'd have to say it was very easy reading and the author succeeded in getting most of his points across very clearly.
The bad points: On average, every 10 pages or so you will find plugs for his other money making ventures such as his game, his other books, and his seminars. I agree with one of the other reviews in that he does not go into detail about how he managed to build his empire while keeping away from the employee way of thinking, which was what I really wanted to hear about. Also, he makes tons of references to his other books, and things that he mentions in them, so at times, I felt like I was reading a second hand book.
58 Get real you 1 star people!
This is a great book, possibly the best of the series. If you think all there is to life is a college degree and a J-O-B, think again.Mr. Kiwosoki has written an excellent book that is right for the times. You can retire rich and you can retire young by following the principles in this book.I also recommend "The New Professionals" and "Turner Turner, Turner: The King of Network Marketing" for additional reading and insight.
59 Rich Dad, Poor Dad == Retire Young, Retire Rich
I loved Rich Dad, Poor Dad, and it definitely inspired my entire family, but I didn't get much out of RY,RR. It seems to be much of the same encouragement. I think one or the other would suffice. If you own Rich Dad, Poor Dad, just reread it.
60 There are better books out there.
This book is filled with so many innaccuracies and errors of omission that I would not recommend it. The information on stocks and financial planning is incomplete and erroneous. For ex:The writer talks profusely of the tax consequences of owning mutual funds,yet fails to mention any of the great tax shelters available to remedy this problem. Roth IRA's, Education savings plans, and Tax efficient mutual funds(index funds) are available to practically everyone on this planet and mitigate these tax consequences. Not a word on this! This is financial planning 101 stuff which is always the foundation of a solid financial plan. P/E ratio's are described wrong. Too much quack theory and very little practical advice. Another thing, starting a business CAN be profitable, but for MOST is not. Most businesses FAIL and therefore should only be started by people who have it to lose. The vast majority of folks are best off with a allocated MIX of stocks, bonds, cash, and real estate. This mix is determined by your Time horizon, risk tolerance, and education level(i.e a real estate agent may be comfortable with more real estate holdings) Loading up on any one of these asset catagories at the expense of another will increase your risk-another basic missing from this book.
61 Retire Rich, Retire Young
This book, as well as all the books in the Rich Dad series, is an investment in knowledge that gives the reader a new paradigm on taking the appropriate actions in his life to accumulate wealth. It provides the reader with an important foundation of knowledge that he can use as a springboard to further educate himself in personal financial matters. The key being that one must continue to not only expand his knowledge, but also to learn how to apply that knowledge in the real world to accomplish his goals.
62 A terrible investment
This book is long on cliches and hype, and frustratingly short on specifics. Even though the print is large and the ideas simplistic, its rambling style, arrogant boasting, and redundancy make it a surprisingly difficult read, and in the end, the reader will be no closer to understanding on how to actually make enough money to do as the title says.
Kiyosaki's legal and tax advice is in general extremely vague, and this is probably a good thing, as the advice his does get specific on is impractical, outdated, or illegal. Worse, this book appears to be more a work of fiction than anything else. Kiyosaki's anecdotes about his own career are at times contradictory, and the dates don't match. And the Honolulu Star-Bulletin was unable to identify who "Rich Dad" could possibly be, despite Kiyosaki's claims of how rich and famous he is in Hawaii. It is quite probable that he is also a work of fiction (check out Kiyosaki's disclaimer at the front of the book).
Kiyosaki is much more a (poor) motivational guru than a serious financial advisor, as anyone who has seen him hustling his products on his infomercials can attest to. In case you've missed his informercials, never fear. At the back of this book are pages of ads for his products, including his $200 (!) board game. One has to wonder how seriously to take a financial advice book that seems to be more of a marketing tool, designed to make Kiyosaki, rather than the reader, rich.
63 Nationally recognized CPA endorses it as a MUST buy!
If you are on a quest for financial literacy, this is a must buy foundation book for your treasure chest. This is Robert Kiyosaki at his finest. Skip the drivel from the ignorant naysayers who carp about the author's writing skills. They are right, it's not scholarly. Thank goodness! I'm a member of MENSA but personally, I prefer it like it is - readable.
In Retire Young, Retire Rich, Kiyosaki is hitting his stride. This book is smoother and more advanced than his past books. So much so, that I strongly recommend that you read Rich Dad, Poor Dad and Cashflow Quadrant first. I found it so thought provoking that it was hard to read more than a few pages at a time without going "Ah-Ha!" and mentally zooming off to ideas on how I could apply it, right now, today.
In 1980, I graduated at the top of my class and I've spent over twenty years developing my financial knowledge base. But I can tell you, I've learned more from Kiyosaki about the fundamentals of financial literacy than from any other single influence. I heartily recommend that you read this book.
64 Liar?
This was my first (and last) reading of this series. Kiyosaki is a great motivational writer when you can get beyond his miserable grammar. There was way too much hype and not enough substance! He really doesn't give any of his 'secrets' away. He does, however, tell a story about how he made fantastic returns 'without any money'. It's BS because, as he admits, tho not in an apparent context, that he had to have enough collateral (about $40k) to cover himslf, had his hedge failed. Hmmmm....
Further, I think it's contrived. He starts the book in '84 or so saying he 'can't' do what he says is most important: change his thinking to retire rich beyond his wildest dreams. He goes through a long-winded story about how his friend had to convince him. Contradicting this, throughout the book, he's saying in retrospect, how he was realizing how important what 'Rich Dad' had taught him was, etc. as he's being exposed to it. So which is it? Did he learn this stuff from '84 or so on, or was he really following it throughout his life and needed another book to help him retire rich?
65 So So
This book is a bit too abstract. I would have liked it if he had described a bit more the sweat and heat of running a business. And he says he retired at age 48. To me, retiring young is more along the lines of what Eddie Murphy said, "I always knew I'd be a millionaire by age 21." That's young! And if Kiyosaki didn't retire until age 48 (and he retired on a fairly unimpressive five-figure passive income) EVEN THOUGH HE HAD BEEN COACHED BY HIS RICH DAD SINCE AGE 9, a reader older than 9 can tend to feel it's too late to start the multi-years process of getting rich, which for Kiyosaki involved being homeless in his late 30's. And I confess, I'm older than 9 myself!
66 Thinking Different
This is the third book of Robert's I have read. I took my time reading this book, reflecting on the different points he has made. A blueprint or outline on how to become rich, this book is not. Started me to thinking differently on issues of money and achieving life goals, it has.
67 Regurgitation
After reading several of his books, Kiyosaki has run out of things to say. If this were his only book I would rate it 4 stars because he does share alot of valuable information. The reason I would not rate it 5 stars is because he repeats himself over and over and over and over again. He also misquotes the Bible several times. If you have read his first book then borrow this one if you have time to kill.
68 A must read for all Business Owners
For me this book is the best yet of the Rich Dad series. It is a must read for all business owners or those who wish to start a business.
69 This book is not detailed enough - too general
This book is too general - it is not as detailed as I thought to be. I am quite disappointed in this book. Robert keep referring to his other books, leaving you hanging there and thinking - is he trying to sell me his other books? It seems like he wants to write a book that could tie in with his other books (in order to sell you his other books). I really think I made a bad choice in buying this book!
70 Has value to read
Actually, I think this book is not good as same as before. Not enough information to know how to get rich or retire young. But it has value to spend your time to read, if you want to know why "It doesn't take money to make money".
But, I think his first book "Rich Dad Poor Dad" is far batter than this one.
Anyway, ,go to get it and you will enjoy this book.
71 Write a book, get rich
Too much "context" not enough "content". The main point that Kiyosaki left me with was, "Hey, if I want to get rich, maybe I should write a book about how to get rich?" I will say that the motivational aspects of this book may help those with a seemingly incurable self esteem.
72 No new ideas
Like other reviewers I have bought four of Robert's titles (about NZ$130). I would only recommend the first and third, Rich Dad Poor Dad and Guide to Investing. Retire Young is senile. It is a now old story that was thrillingly novel on the first telling but only ellicits a polite smile on the nth recount. Accordingly, I felt like a sucker after purchasing this book.
As for ideas like Leveraging your Context, I appreciate the sentiment but, linguistically, Robert is falling towards the corporate HR psychobabble that his auidence wishes to escape. He is speaking like a Dilbert joke. Or worse, a cynical Dogbert selfhelp book.
At 300+ pages I crave substance. Robert recounts stories of buying a house for $50,000 and two years later selling for $100,000. OK, I don't expect what worked for him to work for others, however, these tantilising examples would be more instructive if he recounted what he learnt, what skills he found important, tales of serendipity and acumen We are told that he once visited six bankers to obtain $35,000 and are told that he learnt something on each failed meeting but not told what exactly. It is akin to Arnie saying that to get big and strong, you must go to the gym and then failing to give any exercise prescriptions.
In conclusion, congratulations on your success Robert, well done. I will, however, be scrutinising any future products from your "brand" very closely.
73 ..OH PLEASE!!...THIS IS GETTING OLD...
I did like Rich Dad Poor Dad, and started to read cashflow quadrant...this book is nothing but the same concepts in a little more detail....but all the same watered down concept of the first book...I glanced at a few other books, and have caught on to this....save your $$$$, The only thing you should know is that your contributing to the wealth of one man, who makes a living out of suckas's who pay for these way too watered down, and tired concepts......
74 TO MUCH HYPE AND NOT MUCH INFO
THE BOOK RELIES MORE ON COMMON INFORMATION AND ALWAYS GOES BACK TO WHAT HIS RICH DAD HAD SAID WHILE HE WAS GROWING UP. IT HAD A FEW ITEMS THAT WERE O.K.,BUT WITH 335 PAGES IT SHOULD HAVE SOME IDEAS. THIS IS MY SECOND BOOK THAT I HAVE READ BY MR. KIYOSAKI
AND IT IS NOT REALLY MUCH DIFFERENT FROM "RICH DAD,POOR DAD"
I REALLY BELEAVE THAT HE SHOULD HAVE HIS RICH DAD WRITE A BOOK
BECAUSE HE ALWAYS USES HIM AS HIS REFERENCE. TOWARDS THE END OF THE BOOK HE TALKS ABOUT HIS WIFE KIM AND HIM BUYING A FEW RENTAL HOUSES AND THEN TRADING UP UNTIL HE GETS A LARGER GOV'T BACKED
APARTMENT BUILDING. THEY THEN RETIRE...MAKING $40-50K A YEAR
HE HAS DONE NOTHING SINCE THEN IN THE APARTMENT/RENTAL BUSINESS.
NOW HE JUST WRITES BOOKS AND LECTURES ON THE CIRCUIT. I RESPECT HIM FOR BEING IN THE SERVICE. BUT THIS BOOK COULD BE REDUCED BY ABOUT 200 PAGES AND STILL HAVE THE SAME EFFECT.
75 Enough of this junk already!
I didn't think these books could get any worse, but they just did. This is the worst of the bunch. I've read them all, just for entertainment purposes, because I just can't believe that these things could help anyone, other than the author.
First of all, the entire premise of these books is wrong, since it is certainly very possible to become rich by getting a good education, getting a good job, being frugal, and investing your savings for the long run. I have plenty of friends and family who have done so. I'm working on the same thing myself. I have no doubt that I'll be able to accomplish my goals, nor do I think that those goals are particularly difficult to attain.
No, you do not need to own your own business or buy rental real estate to become wealthy. Statistically, 98% of small businesses fail. The odds of your acheiving wealth by getting a good job, and investing your savings are much higher than that. The amount of rental real estate you need to own to generate enough income to be considered wealthy is also quite high, depending on where you live. Owning a couple of four unit garden apartments isn't going to do it. It's doable, but it would take you many years to be able to put together that type of a real estate portfolio. Where I live it would take about 100 units. I know, because a friend of mine owns about 100 rental units in my area.
Do yourself a favor and skip all of these books. They're worse than a waste of your time because they tell you can't acheive wealth in a conventional way, which may cause you to doubt yourself and stop trying.
Read the reviews of these things. People say, "Oh, this is a great book", but nobody says they've made any money by reading them and following their questionable advice. They're like mindless sheep, reading the finance bestsellers and talking about how great they are. But almost nobody will get anything useful out of any of this guys books.
Read Millionaire Next Door, and Eight Steps to Seven Figures instead. They're much more useful, and you'll feel a whole lot better after reading them.
76 A Great book for the Open Mind
This book is one of Kiyosaki's best. "Rich Dad Poor Dad" opens your mind to something never discussed before but seems so obvious. "Cashflow Quadrant" helps explain the way that Kiyosaki views the world; but "Retire Young Retire Rich" is the best book yet. All the poor reviews I've read so far have either attacked his writing as a person or have attacked the lack of concrete evidence of numbers. In every book so far he has said that he will not give the concrete numbers but will show you how to open your mind. So many people believe that they have an open mind but it's merely vacant. He doesn't offer a plan to get rich but the way he was thinking in order to become fabulously wealthy. In the beginning it talks about expanding your context so that it can except more content. Saying I can't do that or it can't be done is having a fools context. I'm only 21 and have invested in stocks, and I am about to close on my first real estate investment as a college student. The younger minds are much more free to the beauty of such thinking. If you're looking for other books to read Kiyosaki does offer many books besides his own at the end of "Cashflow Quadrant" If you'll notice throughout "Retire Young Retire Rich" he mentions his plan of buying two homes every year for the next ten years. That planning in my personal belief came from a prior book written in the early 80's called "Creating Wealth" by Robert G Allen. He also mentions "How to Make Money in Stocks" by William J Oneil. These are all fabulous books to read. So to all the bad reviewers who found no value to this book, your context is too small to except the content that this book is giving you. The wealth of information is immeasureable. I also own Cashflow 101 the game and have played with numerous other people and have seen the difference in the way people trully think. The five Rich Dad series books are wonderful and provide insight to the next. The game is expensive but I have found the true fountain of youth in my mind. Thank You Robert.
77 Excellent Book to get the richt mind-set to attain wealth
I find Mr. Kiyosaki's books extremely inspirational. In each of his books, you will find a wealth of radical ideas that will, if you have an open mind, change your vision of everything society has made us believe in terms of wealth building and the general sense of dependency towards earned income (e.g. job income) to make a living.
Yes, you will not find specifics, but consider this book as a menu of alternatives to find portfolio and passive income alternatives that you might wish to explore more deeply. In my own case is option trading. As of today, I have read over 10 books (and growing) in option trading and I can tell you that any person that consider it a risky investment, does not know what s/he is talking about.
The only area of the book which I find boring is the story of his both dads. I specially find it very denigrating for Robert's biological dad (poor dad) to keep repeating these stories all over again. Robert, keep up your excellent mission in life which is, among other things, to teach the common person to get rich. But please, let your poor dad rest in peace.
Aside from this, this book is worth its weight in gold.
78 Waste of time
This book could have been summarized on one sheet of paper. The author constantly repeats the same (obvious) points to fill up the pages. The "rich dad poor dad" theme was especially annoying. I was completely sick of both fathers after the 400th reference to both. There are a number of plugs in the book for other products the author is selling. I do not recommend for anyone who is looking for practical information.
79 Retire young(RY) + Rich dad/poor dad(RDPD) rolled into one
The wierdest thing (noone has mentioned):
After reading between the lines, I'd bet anything that HE HAS WORKED HARDER THAN 80% OF THE GENERAL POPULATION TO GET TO WHERE HE IS! For some unexplicable reason he presents a life story that saunters into money. And then he talks about skipping weekends, running several small businesses, going broke, going to work early, leaving late. That ain't easy stuff -- but he seems quite happy with his life, good for him.
...
The book is a paradox. On the one hand, I am EXTREMELY grateful to him because his RDPD "kicked me in ..." to seriously start investing.... On the other hand his website and RY book comes off as promotions for his whole system. Kinda like TV evangelist who has some good things to say and lots of things to sell.
I've read all the reviews for RY and the reviews cover the spectrum of "horrible" to "supreme enlightenment". For good reason. He does a good job expanding his earlier ideas (the repitition doesn't bother me, then again I blew through the book in an hour and a half in a bookstore) and his overall gestalt for thinking about money is appealing.
But his adoration of money leaves a sour taste -- for him being rich seems to be the ultimate. I would frown upon such an imbalance just as I would frown upon myself else being so "artistic" that I became irresponsible, hurting family and friends ....
...
Both books are worth reading, but a healthy dose of skeptism mixed with an open mind should accompany your eyes. For me, it has gotten me to study investing -- but in the meantime I have other goals and I AM GOING TO RETIRE OLD (hopefully rich) AND ENJOY THE PRESENT.
80 His best book - But not for those with closed minds
This book should have been his first...although I'm not sure it would have made him as popular. This book is centrally about why you would want to get rich, not how to get rich.
This thought is of extreme importance, and in my opinion is much more instrumental to the development of a person than knowing the methods of getting rich.
I liken this to being in a space ship. You may know how to turn the wheel (methods of making money), but not knowing where you are going makes that steering wheel useless (knowing why you want to be rich, and preparing your mind for being rich).
81 A wake up call!
There is no real estate "how to" value in this book! I gave it 5 stars because when I was done reading it I came out with life saving solutions such as: stop working for corporate america, don't invest in 401k or stock market and concentrate fully in multi family real estate investments. I know it's the opposite of what you hear from CNBC but after reading this book you'll realise that this guy makes sense. For his message alone I wish this was required reading in college. This guy is brilliant!
82 How to ?BE?, not how to ?DO?.
I listen to the CD's over and over again (nothing else to do on my 2 hour drive to work). The one thing to remember is that this book is about how to "BE", not how to "DO".
83 Long on theory, short on specifics
While there are some good general concepts to be learned, the entire book (335 pages) could be shrunk 75% (easily) and there would still be ample room to get the points across. Lots of wishy-washy, big picture stuff (nothing wrong with that if that's what you need, of course).
84 Retire Young, Retire Rich (Wr. by Kiyosaki and Lechter)
If you have seen the new infomercials Robert Kiyosaki has made about retiring and making millions of dollars, you get the gist of this book. It is a three hundred and thirty five page ad for all of his other products under his Rich Dad moniker.
Most frustrating is Kiyosaki's complete lack of skills as a writer. He freely admits he is not a great writer, and proceeds to prove it. He repeats himself constantly throughout the book, and writes pages of dialogue scenes he swears are from memory, but play like the worst staged scenes in an infomercial.
Kiyosaki also manipulates the reader with his constant berating. If you are doubtful of his methods or if you question whether you can go running out and buying real estate without money down, then that is your problem. You are wrong and he is right. I was consistently made to feel stupid as I read this thing, and that was confirmed by the authors' smug attitude toward people who actually work for a living.
Kiyosaki also never gets specific about how to retire young and rich. He dances around the subject, throwing out little helpful hints here and there, but never gets to the brass tacks when it comes to sitting down and doing it. Recommending I go to seminars and hire a bookkeeper are lovely ideas...but then what??
If anyone is retiring young and rich, it is the people behind this three hundred page ad for other Rich Dad products. If anything, reading this will inspire you to go it on your own, and ignore the advice of "experts" like this duo. Don't waste your money, or self esteem.
85 A must read..
Great Book. Very insperational.
86 Buy this book and judge for yourself.
I have just read all of the reviews on this latest Robert Kiyosaki book and I must say, many people don't understand Kiyosaki's intent.
I have given a few of Kiyosaki's books negative reviews, mainly those that he simply wrote the forward on, and then allowed some "Advisor" to write and pass it off as his work in his "Rich Dads Advisor Series". But this book is more in the tradition of typical Robert Kiyosaki, rather than some babble by Dolf DeRoos on real estate.
If you want to read all of the negative reviews of this particular book "Retire Young, Retire Rich", your going to discover that almost all of them are unhappy because they had a question in mind, and Kiyosaki failed to answer the question to their satisfaction. But, that was not the point of this book at all, and that is stated VERY clearly right up front.
Kiyosaki is very clear is saying that he is not going to tell anyone "How-To" do anything. I applaud him for this, as everyone has their own unique experiences and talents. Look at the top 500 Billionaires in the world, there is simply no one way to get rich, it takes the proper mental perspective, and once that is acheived, anyone can get rich using a number of techniques.
The point of the book is to provide the mental framework that anyone can use if they begin to apply their own skills for wealth. To some this is real estate, for others it might be retail, or a car wash business. The simple truths in his book were used by all people of wealth, whether intentional or by coincidence. Kiyosaki manages to spell out the "Why" you need to begin to create wealth. I suggest the novice not be to concerned with the "How-To" immediately, but understand the "Why" to wealth, then your road to achieving wealth will be much clearer, and you can avoid the many pit falls of those that have failed before you.
If your not interested in understanding the PRINCIPLES needed to be wealthy, and "Retire Young, Retire Rich", your probably not going to achieve wealth. If you want to comprehend the techniques, skills, and principles to wealth, then I give this book a very high rating and recommendation. "How-To" books are a dime a dozen, but 98% fail to deliver, thus 98% of society are not wealthy, true?
After this book, you can atleast understand why 98% fail to accomplish wealth, thus enabling you to use your own talents in a manner to achieve wealth if you so desire.
Good job Robert, I'm glad you wrote this book, regardless of what some of your critics have said in the past, namely myself.
87 Tools and Insight
I regard this as an excellent book. In reading other reviews I guess people find what they are looking for. The path to "Rich" is not a series of static steps, that's a ridiculous idea, so why would I expect that in this book? Everyone's situation and opportunities are different. This book provides a wealth of models and evaluation tools. He shares experiences I have never heard before. Do I care if he has a simple and plain manner? I think it actually helps, unless you are looking for some overblown financial treatise that will give you an excuse to never take action because you don't understand the concepts. No excuses here, probably the reason for the hostility of some of these reviews. It's difficult to have to admit things to yourself.
In short, I recommend this book because it will open your mind, you models and tools that will set you on the path to creating your own financial life plan.
88 Ask someone who has done it
To all those who would criticize Robert Kiyosaki for not being a great writer, you have missed the point. I started investing in real estate in 1990 after having watched those late night TV commercials. I had no money at the time, but found a way to get my first place, then my second, etc. I have a backround as a musician, and no degree. Speaking as someone with 8 rental houses today, I can tell you I agree with 90% of what Kiyosaki says. If you want the nuts and bolts of real estate, you need to keep reading and studying.
Kiyosaki writes for overall financial perspective, and his overall perspective is correct.
There are many ways to get started in real estate, and each works best depending on location, timing, and your individual temperment and abilities.
I would caution you, don't sell the message short because you're not crazy about the messenger's style.
89 lacks detail, evidence, credibility
I more than anything want to retire young and retire rich myself, which is why I picked up a copy of this book and read it twice, cover to cover with an open mind. My conclusion: I got conned into making the author richer by buying this book.
There's a few points that I will give this book: the concept of leverage is an important one to learn and yes, it does work when used wisely and after you've done your homework. It is motivational - you do want to get rich fast even more after you read this book.
However, this book seriously lacks credibility and details. By taking a storytelling tone (which I admit makes the book easy to read) the author avoids offering any solid evidence that his approach to retiring rich works. After doing some research, I found that "poor dad" is Ralph Kiyosaki, a PhD and was the head of the Hawaii dept. of education. However, "rich dad" was never named - why not? The author says he started several businesses - what were they? Where did the startup capital come from? What did they sell and to whom? I see no reason why this information is not revealed, it should be a source of pride, unless there is some kind of shame associated with it that the author wants to mask. I really want to see the author quote and cite some sources, name some names, show me some real numbers, and build a case to convince me that his method works. I'd really like to see some accounts from some real people who have tried the different techniques he sells/tells. He's going out on a limb with comparatively new/radical techniques but he's trying to convince the reader to believe him just on faith. If you doubt him in the book, he just says that "you haven't learned how to leverage your mind to handle risk yet." I don't know about that - the way I manage my risk is by learning more about the problem and applying some form of logical/methodical/reasoned approach to mitigate the risk.
The writing of the book is repetitive and sounds like a sales pitch for the authors' other books and products when he constantly refers the reader to the other books for more information. There is already a listing of the other richdad products both at the beginning and the end of the book. Why keep promoting the items inside the text of the book? When the author tries to sell things while trying to teach things, it really blows his credibility. In addition, the author very rarely suggests other reading materials or sources besides his own books and products - why is that? If these techniques work, why isn't there any other literature out there the author can point readers to for more information?
One of the biggest problems I have with the book is he makes everything sound way too easy. Residential real estate is something that is fairly manageable, although where do you all of a sudden get enough money to take out a loan to rent an apartment building? That initial capital has to come from somewhere. Where? Trading stock options can give you limitless returns, but why is it that 90% of the people who trade stock options lose all their money? There are no citations for the reader to go and find out more about trading options successfully (if that is possible). Specifically on one point in the book: why in the world would you ever buy a put option to bet against a stock that you own? Any decent investor would want to research and buy stocks that will perform, not sink. If you have a feeling that the stock will sink badly in the near future, don't buy a put option, sell it now! The author makes business building sound easy - I know many successful CEOs, moderate self-starters, and devoted people who have poured their hearts out trying and not making it. None of them are retired and living filthy rich like the author described. I'm a business owner myself, and I'll tell you one thing, you work your tail off just to make ends meet.. to come out rich like the author tells it is not a piece of cake.
More or less, the point of the book boils down to, "if Kiyosaki can get rich, so can you, but Kiyosaki's just gonna sell (not tell) you a vague notion of how." As the cliche goes, "the devil is in the details." This book really steers clear from any details and evidence and it is way too easy to overlook this fact because we all want to retire young and retire rich and that can easily put blinders on people (myself included). If you buy this book, really sit down and try to evaluate and analyze it on its merits - you'll find there really isn't much there below the philosophical surface.
I try like crazy to take a step to make it big every day of my life, but if the secret formula to get rich is in this book, there sure as heck better be a serious increase in the number of rich people in this country in the next five to ten years to prove my assessment wrong. I'm looking forward to hearing some success stories and talking to those who made it - at least that way when I am wrong we will all know there is an easy way to get rich quick after all.
90 Jimmy Doesn't Like This Book
Jimmy thinks Kiyosaki talks too much in third person, like
he is "Rich Dad."
Jimmy thinks Kiyosaki should stop writing. Jimmy thinks there
is too much repetition in "Retire Young, Retire Rich." Jimmy thinks there
is too much repetition in "Retire Young, Retire Rich."
Jimmy wants to write a book on money but Jimmy thinks his
book might be too repetitious.
Seriously this book is pretty much a joke. RK has dug a hole
and it's bad writing. I cannot recommend this book. "Rich Dad
Poor Dad" seems to be a better more serious book. This new one
is as silly as the "Jimmy" character that was so funny on an
episode of Sienfeld.
-Jimmaaay
91 Not very useful...
This book is filled with cliches, platitutes and vague concepts, but very little specific useful information. Actually, the best thing that I inferred from the book is the best way to retire young and rich is to write a mediocre book about planning for retirement.
I don't intend to be overly mean, but the book has the tone of a late night television huckster peddling real estate investment scams.
92 Huh?
something about the author complaining about being broke and worring about the next year while he was on a ski trip just doesn't sound right. The long and the short of this book is own a bunch of assets, go into debt to get them if you have too, then write a series of books.
Some good information about changing your mindset, but I had already done that is why I bought the book.
93 Good book, not great, but worth a read.
I thought this was a pretty good book. Not much on How-to, more of a Why-to. The author spends most of the book recollecting how he became wealthy, and gives some good advice on why you should press on when things look bleak. I liked it, and I came away with an understanding that in order to be where you want to go, you have to focus on your business and goals with a singlemindedness that most people aren't willing to reach. Anybody can do it. I haven't yet, but I will. It's worth reading if you apply what you learn.
94 Not very helpful
This book repeats itself so many times it becomes an annoyance. The book could have been written in about 50 pages. Really the mantra is: Own a business or real estate or stocks. Being employed is bad. Yep, got all that. It does manage to make you think about how truly aweful it is to be an employed toady, but like most books of this ilk there is very little there to help you get started. It read like a multi-level marketing meeting.
95 The best... And the worst
I've read almost all of the Rich Dad series, and I continue to give each one of them mixed reviews.
On the one hand, these books stress that people are NOT going to become 'rich' by saving and investing for retirement. The truly rich DO think different and have different options, primarily because they own their own business.
The information provided is, on the one hand, so obvious you wonder "why bother". Then, you realize that Mr. Kiyosaki is the only person out there putting together books like this, and then you have to wonder "why isn't anyone else saying this!?!"
The RD,PD books form a cornerstone of my personal finance library, NOT because of the depth of information provided (as one other reviewer mentioned, specifics are THIN), but because these books are designed to make you THINK, to make you expand your potential, and to find out the rich person in you. That sounds esoteric, but the reason each book repeats earlier books is because the messages need to be repeated, repeated, repeated until you finally _realize_ what he's trying to say!
Yes, this book is a rehash of the previous books. Yes, it does provide a few new insites that make it worthwile. BUT, the fact that Mr. Kiyosaki finally goes into a little bit of detail of HOW he raised himself up, how he APPLIED the lessons he's been teaching, and a bit about some deals he worked. The series isn't about specifics; remember that. It's about changing your CONTEXT.
Read the book and you'll understand.
96 A Book of Words...Just WORDS!
If "Rich Dad, Poor Dad" is a brilliant success, this one is a brilliant FAILURE. The theme is very loose, and it seems the author has nothing to say anymore, especially after all these rich dad, poor dad series. I cannot find the theme coherence of the whole book, and the author is just selling / marketing (again) all his previous titles. You can get any more practical financial advices from other Do-it-yourself personal finance book. I just want to say: if you want to be the rich dad, don't buy the book and save the money in money market fund, at least you earn a penny a month.
97 Same as the other books.
Robert Kiyosaki, Talks about the different quadrant's. There is the self employed, the employee, the investor, and the business owner. I have read his books in the past getting to the investment and business owner Quadrant is next to impossible. I have read several books on real estate and theory is not always practical. Looking for distressed properties is just a feeding frenzy. There is so much competition For distressed properties the only way you can get them is to pay cash. I have been to the foreclosure auctions in Houston Texas and it is required that you bring at least (amount) in cash just to pickup 2 properties! Once you make it to the investment and business owner quadrant you Are set for life. The hard part is getting there. I have tried for the last six months, moved from a 3,000 square foot house to a small condo to have more money available to me for investments. Even working for investors and finding them houses hasn't worked out either. Unless you are looking for a long term investment and pay full retail for the house's I can't seem to get it to work. The theory behind it is great. Getting the theory to work is a whole different story.
I have also noticed that when you tell people you are a Real-Estate investor they demand to know your secrets (they don't ask) you would not believe how many people in Church have approached me wanting to know my secrets. The people that are in Real-Estate will do everything they can to sabotage your success, even people in my Church this seems to be true. If you are successful keep it a secret!
98 Don't buy this book.
This book should be free since it offers little more than Robert Kiyosaki selling his other books and games. If you want to retire young and retire rich, own a little real estate and write a lot of lousy books. That is the message I received.
99 Where is the beef?
Although this book covered some very interesting and some what complicated concepts (such as Context vs. Content; different types of leverage), I find this book contains way too many fillers and self promotions. Not only did the fillers wasted a lot of the readers' time, it also hurt Mr. Kiyosaki credibility as an financial educator. We all know that Mr. Kiyosaki is getting rich by selling books like this one. I feel he is milking his ideas too much. I know one thing, he just lost me as a returning customer.
100 People should work harder
I haven't yet read the other books in the "series"; but I can say that reading anything for the supposition that it may someday have relevance is not a bad thing. For all those crying poor-mouth about not finding work, get over yourselves and work at all the malls or fast-food joints that I see signs on. Better yet, work 2 jobs like I do and keep in mind that it's not forever. It's possible to retire young, you just have to WORK first.
