Rich Dad Poor Dad – Is Robert Kiyosaki Legit? [2019 Review]

Looking for more info on Rich Dad Poor Dad?

Wondering whether Robert Kiyosaki is the real deal?

I’ve been taking a closer look at Rich Dad Poor Dad and seeing whether it’s really relevant for 2019 and beyond.

Keep reading below to get all the details on Rich Dad Poor Dad and the man himself Robert Kiyosaki.

Before I start…

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Rich Dad Poor Dad - Is Robert Kiyosaki Legit? [2019 Review] 1

Rich Dad Poor Dad Overview

Rich Dad Poor Dad is one of the best-selling books by Robert Kiyosaki. Since its publishing in 1997, 32 million copies have been sold. This high sales return is due to the great insights, ideas and inspirational quotes that Robert puts across.

robert kiyosaki rich dad poor dad

My friend recommended me to read this book, and it was great knowing it existed. When I started reading it, I felt I should continue reading until the last page.

Admittedly, this book changed my life with fancy or profound ideas. The book created new ideas in my mind and taught me to think differently about money.

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After reading this excellent book, it served as an eyeopener. The book drives you to think about money as an arsenal for creating wealth. The author talks of how to make money work for you and not you to work for money.

Speaking of money Rich Dad Poor Dad isn’t the only investment related review I’ve done lately, be sure to check out my Roofstock and Realty Mogul reviews.

What Does Rich Dad Poor Dad Entail?

Robert Kiyosaki talks about his two fathers where one of them was a rich dad while the other was a poor dad. The poor dad was his father while the rich dad was his father’s friend. The poor father was well educated while the rich father was not well-versed with educations. That’s the difference Robert brings in.

The book has six key lessons plus other few concerns. Let’s briefly highlight them.

Lesson 1: The rich don’t work for money

Here, the author talks about how you should avoid being controlled by money instead of controlling it. He addresses that many people say they are not interested in money, but they’ll wake up every morning going for work. He adds that a job is a short-term solution to the long-term problem. He advises people to see what other people miss to see. In short, he wants you to have entrepreneurship mind and have your own business.

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Lesson 2: Why teach financial literacy

In this chapter, Rich Dad Poor Dad points out why it is essential for people to be financially literate. It says that being financially literate means differentiating between assets and liabilities.

Robert inputs that, for you to become rich, you must be financially literate. Again, being financially literate is a matter of how much money you can make instead of how much money you have saved. He defines, an asset as anything that adds money to your pocket and liability is anything that drains your pocket.

Lesson 3: mind your own business

In this chapter, Robert enlightens us to focus on assets and forget about the income statements. He advises us to keep expenses low, minimize liabilities and build a solid asset base. He goes ahead and suggests some great kind of assets in this chapter. The chapter points out some practices that lead the poor and the middle to their poverty while the rich remain rich. He says the reason is differentiating between what is an asset and liability.

Lesson 4: Tax history and corporation power

This is the chapter that brings about how taxes came to exist. It also describes why the rich are taxed less than the poor. He says that the rich have many tax advantages compared to the other classes. He explains how forming a corporation works miracles regarding tax computation. He encourages people to create a corporation to avoid tax. He says being smart protects you from being pushed around as much.

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Lesson 5: The rich invent money

Rich Dad Poor Dad goes farther in this chapter to make us understand that everyone has tremendous potential but excessive fear and self-doubt pulls us back. The section encourages us to teach our minds to see opportunities instead of waiting for them. Again, avoiding risks will make us fail because human beings learn through mistakes.

Lesson 6: Work to learn instead to work for money

This is the last lesson where the book teaches us to focus on learning when we’re employed rather than focusing on money. By learning, you gain the necessary knowledge to start your own business.

Concerns

Rich Dad Poor Dad has another chapter that talked about overcoming obstacles, followed by another section teaching you how to get started. Finally, the last chapter gives you more tips on how to become rich.

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Pros of rich dad poor dad

  • The book is very resourceful concerning inspirational quotes.
  • It challenges you to see money in another dimension.
  • It teaches different ways to create wealth.
  • The book is written in a simple language that anyone can understand; no complex vocabulary.
  • Its ideas open our mind to be financially literate to enjoy freedom.
  • Rich Dad Poor Dad points out that financial education is the key to success, unlike the education system which doesn’t teach about money.

Cons of Rich Dad Poor Dad

  • The book has excellent ideas about real estate, but new investors who have no capital find it complicated.
  • Robert gives an excellent example where he earned $40000 within hours; that is impossible in today’s era.
  • The author uses an insulting and demeaning language when referring to those people who chose to work for employers.

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Rich Dad Poor Dad Conclusion

The 32 million copies sold is proof that it is a great book. It awakens the desire to read financial books.

Combining this awesome book with other books will make you think differently.

I would recommend this book to anyone who is willing to challenge his/her thought.

Before you leave

If you’re tired of scams and want a real solution for making money online check out my recommendation below.

It’s helped me earn over $300k in the last 12 months alone:

Go here to see my no.1 recommendation for making money online

(This is a 100% free training)

Rich Dad Poor Dad - Is Robert Kiyosaki Legit? [2019 Review] 1