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Showing posts with label rich dad. Show all posts
Showing posts with label rich dad. Show all posts

Wednesday, July 16, 2008

Review: Rich Dad's Before You Quit Your Job

So I read this book after completing Rich Dad Poor Dad which I reviewed. Before I completed this book I read John T. Reed's attacks on Robert Kiyosaki. Reed accuses Kiyosaki as being a fraud and he does not recommend any advice from the Rich Dad series. After thoroughly reading Reed's argument, I continued to read Before You Quit Your Job and I came to my own conclusions about the book and Robert Kiyosaki.

Negatives:

  • Some of Kiyosaki's stories do not add up
  • Some of Kiyosaki's advice is not good
  • I guarantee that he exaggerates his accomplishments
Positives:
  • Some of Kiyosaki's advice is great (i.e. Pay Yourself First, Creditors Last - at one point I was not happy with Chase Bank, I owed them several thousand dollars and a rep made a promise that he could not keep, I refused to pay them. 3 days before my stale account was being passed to litigation a very nice rep called me, I told her I refused to pay, she attempted to plead with me until I requested a settlement. I settled with Chase for 2/3's of what I owed them. About 2 months after the debt was settled my credit score went up about 8%.
  • I walked away with some valuable information
  • I was more motivated to reach my goals
I take it from Sir Isaac Newton and believe that for every force there is an equal and opposite force. For every offense there is a defense, for every hot there is a cold, for every plaintiff there is a defendant, for every author that speaks against the norm there is a critic that speaks against the author.

I cannot say that I know for sure that Robert Kiyosaki is a legitimate author, honestly attempting to improve the lives of as many people as he can reach (declared by his books) through financial education. What I can say is that Kiyosaki is a good author, that he provides some fabulous advice and some poor advice, and he is a strong communicator. I am a firm believer that quality advice and inspiration can be found in the strangest places. Considering the information age, anyone can publish a book and when reading any book, the information presented needs to be validated by the reader, just the same as researching a topic on WikiPedia.

If you are considering reading the Rich Dad Books but are hesitant, whats stopping you? Information can only be as dangerous as the methods in which it is used and if you walk away from the book with even the slightest bit of inspiration, motivation or good advice that improves your life, your business or your investments, then what did you loose in doing so?

Tuesday, July 08, 2008

I Strive to be a 'Rich Dad'

So I recently reached the back cover of the Rich Dad Poor Dad book by Robert Kiyosaki. This must be one of the most controversial business books that I have read. Many criticize Robert Kiyosaki's best selling book, stating that they doubt he has done any of the things that are written within its pages.

I began reading this book with an open mind. I feel that his writings are sincere and knowledgeable. Yes, he is cruel in his presentation of the Poor & Middle Class, but he is doing so for a reason, to illustrate the philosophies included within the book. He says that your home is not an asset, I can relate with this statement. Because he says that a true asset is one that provides income, although a home can be used as an asset for a loan, it does not provide income. In fact in many cases it sucks up your income through the need for repairs and improvements.

I feel that people are free to their opinions, but I think that many of the people who harshly criticized this book probably never read it, or if they did, they read it with their mind closed shut and unwilling to understand the teachings that Robert was attempting to pass along.

Lastly, Kiyosaki was criticized for his lack of detail in how he made his way to the top. The problem is that this book was not intended to be a detailed account of what he did to become successful. It was to open up your mind to the possibilities and opportunities that lie in front of each and everyone's face. Opportunities are everywhere and you must have the 'Rich Dad' mind set to take advantage of them.

I recommend this book and support the efforts of the rich dad team.