Book Review: Rich Dad Poor Dad

Rich Dad, Poor Dad by Robert T. Kiyosaki

My rating: 3 of 5 stars


It's a good thing one of the authors admitted in this book that they weren't a good writer, because I'm about to tear into this book.

I get that it's a self-help kind of book, but still, there is something to be said for avoiding things like egregious repetition. Each paragraph (almost) repeats exactly what the previous paragraph has said, sometimes using the exact same damned words. This had me so annoyed, I was ready to take a match to the book.

And I abhor the idea of burning books.

Moreover, many of the anecdotes were tiresome and unrealistic (which is weird, because they all, likely, actually happened). I half expected Yoda to jump off the page and say, "Learn this and rich you will become, young investor." I might be a bit harsh here, but it really, really annoyed me.

Also, I'm not much of a capitalist. I mean, I have no issue with capitalism, provided that it is handled in a sensible, mutually beneficial manner.

In short, I think I'm too much of a socialist for this book. I tend to avoid investing in corporations, not only because I don't have the funds spare to do it with, but because there are very, very few corporations I can, in good conscience, invest in.

I refuse on principle to invest in a company that is involved in serious environmental "indiscretions" or corporations that take advantage of workers in developing countries (yes, I do shop at fair trade stores), or even developed countries. I'd rather give my money to Greenpeace, thank-you.

Why is this the case? Because I don't see a point in making a tonne of money for either myself or my children if my children will not have a healthy, safe planet on which to live.

That rules out almost every company currently on the stock market.... though, thankfully, that is changing.

Furthermore, my problem is that I don't want to be filthy rich. I want to be financially independent, but having porches and boats and a house that is far too large to clean is not on my priorities list. Perhaps that is strange, but I don't find so. I'm not that into being rich. I'm not particularly fussed as to whether I have a 5000 inch flat-screen television, or a yacht or other material signals of wealth.

I also don't mind paying taxes. I see taxes as an investment in my community's infrastructure. I like the idea that my children will have access to free health care. I like the idea that tuition fees will be manageable (though they are slowly creeping in the obscene - and already are obscene in the U.S.A.). I like rubbish disposal and smooth roads and parks and a fire brigade that is not a privately owned one (they used to be owned by insurance companies. I'll let you figure out why that's a terrible idea). I don't mind investing in my community. After all, my community is, more or less, my tribe.

For these reasons, I suppose, this book really wasn't for me.

That's not to say that it won't be for you.

As far as the content of the book, there were some things that made sense, and other things that made absolutely no sense to me whatsoever. No doubt the authors of this book would classify me as "arrogant" or a "Chicken Little" or "ignorant." Granted, when it comes to money matters, I am a safe player.

However, advice like 'pay yourself first and let the government scream' is, to my mind, not sound advice. Ever.

Also, the authors state that there is a phenomenal debt problem amongst the middle class. I'm not disagreeing with this at all. Then they go on to say that the majority of workers are living within their means (p. 136).

What?!

No they're not! If they were, there wouldn't be a debt crisis.

I might have missed the point the authors' were trying to make, but it seemed really odd to me.

There were other details that I found irritating, but I won't go into them here.

Thank goodness the authors' didn't claim formal education was useless, or I'd really be having a conniption!

Despite my objections, the book did have some very informative and interesting things which would help anyone. Their ideas on real estate, for example, and their definition of an asset vs. a liability were extremely instructive. Moreover, they provide some practical starting off points for people who might not be willing to risk bankruptcy in order to get rich.

Now, if you're looking to get rich and have no social conscience or any other goal, this is probably the book for you. Even for people like me, there are some good points to take in and put into action. Like, for example, don't spend more money than you have. Wait until you have the funds to afford the luxuries, don't buy the luxuries to make it look like you have the funds. You know, things that ought to be common sense, but apparently aren't.

All in all, the book was "alright."

It's not really my thing, but it might be yours. That said, it did get me thinking, and it does have some very valid points. Worth a read.

View all my reviews

And here's today's Forgotten English word/phrase:

Googer:

The devil.

- Walter Skeat's Specimens of English Dialects, Westmoreland, 1879