I recently reread Robert Kiyosaki’s Rich Dad, Poor Dad book. I read the book when it first came out in 2000, and I was still somewhat of a budding entrepreneur. I figured I would re-read the book now that I have more experience under my belt. I also wanted to see if it’s held up to the test of time, and if I like it as much as I did when I first read the book. A lot has happened financially in the past ten years, and I’m curious if some of his predictions came true. When I first read the book, I primarily liked how he viewed the world from a different perspective. It got me to think differently about my business and investing than previously.
There seems to be a group that either loves or outright hates Robert’s books and thinks they are all trash. The Simple Dollar review for example, adds a lot of personal bias, and I don’t think it’s a fair review. I have somewhat of a neutral viewpoint and will review the book based upon my experience in the business world. Rich Dad, Poor Dad, should be viewed as a general starting point – a investment/startup summary, rather than a list of specific items to do as an entrepreneur. Robert Kiyosaki emphasizes six key points through out the book. It’s the differentiator between his “poor” dad (his real dad), and the “rich” dad that helped him understand business and become wealthy.
The rich don’t work for money
The importance of financial literacy
Minding your own business
Taxes and corporations
The rich invent money
The need to work to learn and not to work for money