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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: What a joke
Review: after reading this book my suspicions have been confirmed. I think this rich dad was an imaginary character. I spent 20 years on wall street as an investment banker and then a venture capitalist and I can smell Bull ... a mile away. This guy has not got a clue. Reference to "the rich" "the poor" He sounds like my communist economy professor in college. Waste of money.

Rating: 1 stars
Summary: No new/useful information here
Review: I read and enjoyed Rich Dad Poor Dad. It was inspirational and had some interesting ways of shifting the way you view money and work. This book is a crude rehashing of that, advertisement, and no detailed information you can actually use. It constantly says the great information will be in the next chapter, but it is just another fuzzy chapter of definitions, new financial lingo (i.e. Ultimate Intestor = Really rich like Bill Gates or Warren Buffet - Obvious right?), and personal anecdotes (...Rich Dad paused for a minute, and then said...) Look to some of the other great investment books out there and don't waste your time/money.

Rating: 5 stars
Summary: A book about mindsets
Review: This is a book on perception - how you perceive money. It's not so much on concrete examples of getting rich, but on changing your mindset as to how you see money, and on how a business owner perceives money also. This book was quite an eye-opener for me because the long cherished tradition/belief of "study, work hard, and save" is questioned. Being an E-quadrant person, I am now more aware of the existence of other quadrants (-look around you, everything you see is a business, he cites), and that essentially E-quadrant people make money for B-quadrant people. If nothing more, Kiyosaki's views at least makes one aware of how money flows between the quadrants, and why the super-rich have to come from the B-quadrants. No easy formulas here, only a change of paradigm presented.

Rating: 1 stars
Summary: Enough is enough already!
Review: Kiyosaki's third book is like his other two. Nobody is going to get rich from reading this drivel. Does rich dad even exist? The whole book reads like an Amway pitch. Anyone interested in making money should get themselves a JOB (or two), save and invest. If you can, start your own business; but do it when you have a REPUTATION and CAPITAL. Reality is nowhere near as simple as in Kiyosaki-land.

Rating: 5 stars
Summary: Another winner from Kiwosaki
Review: I bought this book after reading Cashflow Quadrant and Rich Dad, Poor Dad. This book is 400 pages packed of powerful ideas.I also recommend Tax Loopholes of the Rich, Real Estate Money Machine and Waealth 101.

Rating: 4 stars
Summary: My take on it
Review: This book gave a totally different way of making money. It was just in the stock market. The author focused on getting us to start a business in whatever our desires are. The biggest advantage is that you can save on taxes by incorporating some of your regular expenses (car and home office) into the business. This may be difficult for me. The biggest advantage is that you get continuing income from the business. The author was big on real estate businesses since that provides one with rental incomes and depreciation. He focused on being financial smart to find properties or businesses that are profitable. This takes considerable financial education, which luckily I have. However, I do need to improve this facet so that I can become a sophisticated investor. He suggested people become inside investors. The best thing for people to do is to become very knowledgeable in reading financial statements. He gave a brief introduction, but one should definitely take some classes or get another book on how to read these statements. The best way might be picking up some annual reports and reading them and get some questions in your mind. Then read one of these books at the library. I find this way of learning sticks. The author suggests that we pick up skills in sales - luckily I am in that field, and I do not have a fear of approaching people. What I need to learn is getting more product knowledge so that people will want to invest with me. The author suggests that I build a business that I can sell, and one that there is a wide market for. Now, I can eventually build a financial planning business, but selling my book to others might be difficult since only a few people could buy it. He suggests that I get into a business where the business is run on systems like an apartment business or a restaurant. These are businesses that any Joe Smoh with money can buy. I am not too sure about this. I believe in owning and running businesses that you like and have passion for. Remember that you will most likely be putting 80 hours a week into your business. Make sure you love what you do!

What am I going to do with the material I learned from this book?
1. Getting a better understanding of financial statements of companies
2. Learn how to research companies and industries better so that I can make prudent choices of investment
3. Start thinking of businesses that I would like to run. My number one choice is to run my financial planning business because that is what I enjoy to do
4. Get to know more VCs, angels, and wealthy people who can act as my mentor
5. Start reading more sales books so that I can become better in sales

Rating: 3 stars
Summary: Good source of information, but too much forced advertisment
Review: The book is a good general guide with a different approach to investing. The only problem that I had while reading it was the constant references to Mr. Kiyosaki's other books and products like board games. It seems as if he may have made his millions selling books about how to make millions.

I do enjoy his approach to investing, but every time I thought he was making a good point that needed a little development, he would reference one of his other products, hinting that the answer was located there only after you purchased it. He likes to refer to his board game quite a bit, and I don't blame him since they cost around [price] a piece.

Overall, I appreciate the information provided, but I do not appreciate being sold a book which tells me that in order to get the information I want, I must but another one of his own books. If you don't give in to marketing pressure easily and need a good extremely general approach to investing, then you should enjoy this book.

Rating: 5 stars
Summary: Terrific Book
Review: All of the books in the Rich Dad are excellent. I also suggest How to make nothing but money by DelDeotto,

Rating: 4 stars
Summary: Packed with a lot of information, but mostly for starters
Review: This book, the third in the Rich Dad series by Robert T. Kiyosaki is so packed with information (it has over 400 pages) that it can end up loosing the reader. But if you stick with it and learn to deal with what's become the norm in his books (that is an essential lack of editing) you will be able to take with you a wealth of knowledge that will put you on the road to become the ultimate investor. Out of the Rich Dad books this is the best one.

As the book is so broad in scope, I will only line out here some concepts which I hope will engage the casual reader (yes, you!) to grab a copy of this book:
* To become a sophisticated investor, one must know the three E's: Education, Experience and Excessive cash. He makes a lot of emphasis all through the book on this. And the point about Education he emphasizes the most. In fact, when you realize how many times he repeats some concepts, you come to the conclusion that the author is on a true crusade to educate people, and by repeating things over and over (I don't only mean in this book, but actually all through the three books) he's trying to accomplish what most teachers try to do: to help you internalize these ideas.
* Investing is a Plan, not a Product or Procedure: it is often a dull, boring, and almost mechanical process of getting rich... following a recipe. The problem is that some people find such dull approaches... well, dull!
* Types of investors: (1) the accredited investor (a person who earns significantly more money than the average person yet does not necessarily know anything about investing); (2) the qualified investor(a person who has money as well as some knowledge about investing, a person who learns that "If you want to be a savvy investor you need to know how to exit an investment as well as how to get into the investment..."); (3) the sophisticated investor (also familiar with Tax Law, Corporate Law and Securities Law, and able to use the advantages of E-T-C: Entity -choice of business structure-, Timing -not only how much you pay in taxes, but when to pay them-, and Character -of income: earned, passive or portfolio; (4) the inside investor (someone who is on the inside of the investment and has some degree of management control); and (5) the ultimate investor, a Bill Gates or a Warren Buffet (someone who creates an asset that becomes so valuable that the asset is worh literally billions of dollars to millions of people).
* If you can learn to build a successful B (business owner) quadrant business, your business will generate excessive cash. Then you can use the skills you learned to analyze investments an an I (Investor). Ultimately Koyasaki goes into a lot of detail in terms of what he calls the B-I triangle, which essentially is a framework for creating a business: the three sides are the Mission, the Team and the Leadership. The inside is composed of Cash Flow Management, Communications Management, Systems Management, Legal Management and Product Management. There is an entire chapter devoted to each of these, so this book could also be called "Guide to Creating a Business."

The book will prove to be a valuable source of information if you are not familiarized with concepts such as tax benefits that can be obtained from running a business, basics of investing, and different types of business structures (although this is not the main focus of the book). If you are not a rookie in areas such as this, you'll probably be wasting your time with it.

Rating: 5 stars
Summary: Great Book although I still need some help
Review: Thank you for such a great book. Actually I read all the three in a week and I am now going through them again slowly. I realise that I do require financial literacy lot. Where do I start? Can you recommend any website etc for a start.
Great stuff I must say.
Lucy Wanjiru


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