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Rich Dad's Guide to Investing Abridged

Rich Dad's Guide to Investing Abridged

List Price: $17.98
Your Price: $12.23
Product Info Reviews

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Rating: 1 stars
Summary: Pass on this one
Review: I always check out "How To" books from the library first. If they pass the read, I buy them. This one didn't.

I am constantly looking for ideas on how to improve my investments. Pick up new ideas from others and incorporate them into my life.

While I was reading Rich Dad's Guide I couldn't help but feel something was missing.

Then on page 106 it hit me.

The conversation in the book (it's written mostly a conversation between the author when he was younger and his "Rich Dad") went to the Basic Rules of Investing.

Rule 2: Convert Earned Income into Portfolio Income or Passive Income.

Page 106: "But how do I do it?" I asked. "How do I get the money if I don't already have the money? What happens if I lose the money?" I kept asking.

Response: "How, how how?" said rich dad. "You sound like an Indian Chief from an old movie."

It hit me right there. I've gone 106 pages into this book and I have been told nothing. Imagine it. 106 pages and still nothing.

I then checked the internet for Robert T. Kiyosaki and came across an interesting page that I think all should look at before buying this book. ...

Although the review is on the original book by Kiyosaki, it still gives a lot of insight.

I'm glad that I went to the library first.

Rating: 1 stars
Summary: Kyosaki Misses
Review: I raced through the first two books in the Rich Dad series. Number three is a huge disappointment. Repetitive. Empty. Rambling.

I get the sense that Kyosaki wanted to lay out strategies clearly, but the strategies don't exist, since there's nothing simple about understanding opportunity and risk. What is useful was well covered in the previous two books.

Read the first two books and skip this one.

Rating: 5 stars
Summary: Invaluable if you need to change your Investor Mindset
Review: I have a read a number of the negative reviews and I think I understand their criticism, so I wanted to give my perspective and why this book is so important to me. What Kyosaki brings front and center in this book is the fact that the way an investor looks at a business (he creates) is as a vehicle to generate income using OTHER people's assets. The CEOs of the last three startups I worked for pitched ideas to OTHER investors and VCs which then gave them MONEY to start the business. They took some of that money as a salary, some as dividends and used this money to invest in. The power in this is that they didn't work really hard for someone else, save their money and invest, they took other investor's (and some of their own) money hired other people to work for them and invested the dividends and salary.

Additionally, he makes clear that there is risk in investing, but the best way to reduce this risk is to increase what he calls your financial intelligence. What he means by this is the knowledge and wisdom about the whatever investment vehicle you are using that you will gain by reading about it, taking advise from experts in the field (seminars, classes) and probably most important doing it making mistakes and learning from those mistakes.

He makes it clear in the book what his rich dad told him: "most people will try these things, not do very well and give up", "the best advise to give the average investor to be more successful is not to be average", "focus less about having the best product or service or idea and instead focus on having the best SELLING . . ."

He also states in several places very valuable pieces of information that gave me insight into how he thinks and works. He stated how he became rich by learning about owning corporations and LLCs and LLPs and used them to invest in real estate. He gave a due diligence list that he uses to evaluate apartment buildings. He even confesses at his 30% success rate in investing in different investment vehicles.

The most important thing I learned from playing CF 101 was that you have to play the game to be rich. I have become rich in the game and gone bankrupt sometimes, but I would not have any chance at financial freedom if I did not play at all.

So I would recommend you use this book as a guide and not a hand book. It will help to give you some of the emotional intelligence to deal with the pressure and risk involved with investing. But if you don't start or you give up you will never be rich.

Rating: 5 stars
Summary: RDGTI is the Ultimate Investors Guide
Review: This book is about the 90/10 investor difference. As Kiwosaki explains [quoting Rich Dad] "If you want to be rich, just find out what everyone else is doing and do the exact opposite"RDGTI explains the differences between the 10% of investors who make 90% of the money and the 90% who make only 10% of the money.It's not what they invest in, but how they think.The RDGTI goes against standard, accepted dogma. To me, the greatest revelation was when I realized that by changing my thoughts, as espoused by Rich Dad AND told to Kiwosaki, I could [and did] change my investment results.The average investors philosphy is to not take risks and buy and hold [actually buy and pray--average down]I like the fact that this book is written in an easy to read format. The story telling and metaphors help drive the ideas home. The mental attitude quizzes clears the cobwebs from your head and gets you thinking like an entrepeneur, champion investor. While some of the information is repeated from the RDPD and CFQ--so what? Ever taken a class? Don't teachers review previous material before moving on to newer studies? This book builds on the prior books Kiwosaki and Lechter will tell you some things that you don't want to hear and blow holes wide open on typical misconceptions.So where do you want to be, in the 90% who go nowhere or the 10% who succeed. I have chosen to be inthe 10%. Care to join me? Start by reading this book.

Rating: 2 stars
Summary: A guide to WHAT????
Review: Reading many of his books, listening to most of his audio tapes, having gone through the whole nine yards... I'M FED UP!!! I sure can't call this book "Guide to investing". It's basically a repetition of hype from his previous books. It seems that some of his investments turned south, so he decided to throw out another book on the market, in order to recoup losses. And if someone out there happens to tell you that this book or any of Robert's books made him rich, I think it's the placebo effect that helped him to prosper psychologically. He got no real investing guidance. No steps to follow...

And the whole notion about that "rich dad" ... ...do you believe him...I would like to ask any of you out there...How many of your friend's dads would have the time to devote for you like Mr. Kiyosaki's so called rich dad...I bet you...none! So what makes you think that all this is true...

For all of you that do want to read this book, I suggest doing it in your local library, rather than spending the money on it..."good investing - starts with good saving" and here is a good place to start...

Now you might ask why I gave him 2 stars...it's quite simple...I admire his GUMPTION in publishing such a frivolous piece of work...

If you want to take my advice...go out and buy "The Only Investment Guide You'll Ever Need" by Andrew Tobias...and put your eyes on Peter Lynch's books too, trust me he's great...

Rating: 4 stars
Summary: Some good info and a lot of repeat
Review: Part of the success of the Rich Dad series is through a good marketing strategy and the use of his idea to create a series of books. This is one of the first four, which set the stage for the new books written by his team rather Kiyosaki. In reading some of the books, you read particular stories and references to his other products mentioned again and again.

This does not mean you need to write a book with a series of books in mind. This book is helping you to understand how the world of investing works. As he mentions, if you don't fully understand after reading this book, that is ok. What he wants to accomplish is broadening your horizons and understanding of the entire world of investing rather.

Some of the methods of investing will not apply to the average person because we do not have the track record or the assets ready to do so. It is good to read about it because it provides us with a goal. As in other books, he mentions that it is better to invest in good businesses rather than investing in a stock that is currently rising. If you are not sure how to read financial reports of business to facilitate this, he does explain some of the basics. This is a handy skill to have.

Although there is a lot of repeat, I would recommend this book for bettering your understanding the world of investing.

Rating: 4 stars
Summary: Great Jump Start for Necessary Mindset
Review: If you're looking for someone to take you by the hand and say, "do this," or "buy that" look elsewhere. The value of this book is in learning and understanding the mindset needed to find YOUR OWN answers. Successful business owners and investors don't have a "cheat sheet" with all of the answers for their success. They develop an intuition based on knowledge and experience. That's what this book helps you develop and it is an ongoing process.

In the discussion of going from the "S" quadrant to the "B" quadrant, Kiyosaki recommends Gerber's E-Myth, a great concept book. Add to that Susan Carter's How To Make Your Business Run Without You, and you'll be able to successfully develop the systems for business success Kiyosaki is talking about. For my money, coming away with a new perspective for business development and investing is valuable. Guide To Investing delivered on its promise.

Rating: 5 stars
Summary: I am a big fan
Review: I usually recommend Robert Kiyosaki's books to any of my friends who want to learn more about how to manage their money. Kiyosaki has given me a great deal to think about in terms of how to handle money properly. I credit them with turning around my personal financial situation and hope that everyone who reads it benefits at least a tenth of what I did. Please note that this latest book, Guide to Investing, is another great piece of financial education. It is not a get rich quick book. It is a change your mindset so you can get rich quicker book. Before you execute any money making strategy, you need to have the right frame of mind and this book, through repetition and easy-to-understand anecdotes, helps you get there. Once you have this down, then you can move on to some more specific books on investing like O'Neil's How to Make Money In Stocks and Kwong's 401(k) MarketBuster. Just remember to set your mental base with Kiyosaki's series first.

Rating: 3 stars
Summary: Need Details?
Review: If you want details about investing in real estate, including how-to's and full explanations in terms you can understand, look at "Income for Life-from Real Estate", ASIN 097117380X, as well as--or instead of this book.

Rating: 5 stars
Summary: Not a HOW-To book
Review: After reading all the negative comments I had to write this review. I could tell by some of the reviews that many of the people that wrote them did not actually read the book (I've read it several times already) or simply missed the entire point of the book. This is NOT a How-to-get-rich book (it's even on the book cover: "What the rich invest in...." and he mentions this right in the Introduction!). What qualifies me to make this review? Not only did I actually read the book more than once, I've been an insurance agent, financial planner, investor, and successful business man. After more than 13 years of experience in different fields, I can honestly say that this book still taught me a thing or to. This is a GREAT book if you are looking for new ideas, exposure on GENERAL investments that the rich can invest in that the middle class cannot, and to challenge your thinking. If you're looking for a get rich scheme, or specific paint-by-the-numbers approach, you will be severely disappointed. To correct some of the other incorrect reviews Robert Kiyosaki does NOT borrow heavily from Peter Lynch or encourage you to be a "real estate speculator". He encourages you to increase your "financial intelligence" by reading, attending seminars, finding a mentor, and having more than one financial plan. Then again, the intelligent people reading these reviews will know the difference between the negative ones full of bull, and the one's that were actually written by people who read the book. I do agree, however, that his books repeat a lot of the same information. This is done on PURPOSE because people forget 90% of what they read after 7 days. Repitition is the road to mastery, so he repeats things that are very critical to your success. For example, knowing the difference between an asset and a liability (it may not be what you think!). Using a corporation to shield your assets and creating your own assets other some other key paradigms that most of the public is not aware of. I give this book 5 stars because if you read it with an open, non-judgmental mind, it will challenge your thinking, which is the first step to financial well-being. Good luck.


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