Robert Kiyosaki: "Rich Dad, Poor Dad"

I've started meeting with a business coach/mentor and I'm really excited about it. I have been needing someone like this in my life for a while now and have just recently been able to find the guy locally here who I can get together with on a regular basis. We've only met twice so far and it's been awesome.

He recommended I read Robert Kiyosaki's book, "Rich Dad, Poor Dad", so I picked it up and read through it yesterday prior to our breakfast meeting this morning. I was really intrigued... with a subtitle like "What the rich teach their kids about money - that the poor and middle class do not!" who would not be interested?

This book came out over 10 years ago, so I'm a little behind the times on this one, but it is still a great read and very relevant for today. I'm a big Dave Ramsey fan and he's very anti-debt. Dave's deal is you should have no debt except your house (and you need to try and pay that off as soon as possible). Robert considers a house that you live in a liability, not an asset, because it does not add to your monthly income cashflow.

I've got to be careful that I don't jump in too deep here and give away the whole book (especially if money matters completely bores you to tears!). I've always been pretty cautious about becoming that Christian guy who says he doesn't worship money but lives differently. That's why I've kind of stayed away from books that have "rich" or "millionaire" in the title (a matter of principle, I guess). But I made an exception here and I'm glad I did - more than anything it challenged the way I THINK about money matters. Well worth the purchase, and really a pretty easy read (I knocked it out in 3 hours of concentrated reading).

Have you read it yet? what do you think?

Comments

[lifes best friend]

Being a Christian doesn't mean wallowing in poverty and debt. My family are in debt at the moment and it's not nice at all. I think there's a story in the bible about someone who loses an axe-head and becomes indebted to the owner.

I've read read the book last week and found it extremely enlightening as to cash flow and other concepts.

I think I could also do with a business mentor. How did that come about?

[Jeremy]

Hey all - I would love to hear your thoughts once you get a chance to read/reread this book. Very interesting indeed...

[Bernard Ng]

Rich Dad, Poor Dad is one those books which truely opened up my mind and enlighten me. The best thing about this book is that it is simple to understand and you can get a lot out of it.

[Laura]

I read the book a long time ago. I need to go pull it out again and refresh my memory. I think I remember being challenged in my thinking because it was not what I was taught growing up.

[Amy]

I have heard Dave Ramsey talk about this dude's book. And my in-laws have read it and told us that we need to read it. It's on my list! May have to borrow it from you guys sometime!

[Stephen]

Great post...not boring at all. Actually so relevant to where we are right now. With a kid and a stay-at-home mom, the single salary is more pressing than ever. 2008 is about putting a substantial dent in our debt, but it's so hard to make headway. I'll have to check this book out.