RICH DAD POOR DAD

Robert Kiyosaki

Platas Pub, Scotsdake, AZ., 2017, 351 pgs., paperback

Reviewer comment -
Tis excellent memoir detailing the authors' education in investment methods. As a young man he decided he wanted to become sufficiently wealthy to be able to retire at age 47 - and he succeeded. He has spent the following years writing books, lecturing, and advising others in his campaign to show everyone he can how to do this. This is not exactly a 'how to do it' book but a very strong motivational book in which the author hopes to kindle the strong desire necessary to achieve. I highly recommend it.
This is a primer, the basic beginning book on how to become a very wealthy business person. The follow up book is Guide to Investing in which the author takes the reader very deep into the secrets of being a successful business person.

The author follows a few simply rules. Save and invest in assets that will generate money - avoid purchasing liabilities that will cost you money. Buy assets and organize investments that will minimize taxes. Be active and watch for bargains.

The educational advice is presented in the form of the author's conversations beginning at age 9 with the father of his best friend in school. This is the 'rich dad'. At the same time the author describes his own father's financial ideas - he is the 'poor dad' Despite having a Ph.D. and being an excellent school teacher, his father is stuck in a mental trap of thinking only about being an employee. He is successful at that and is promoted though the ranks to eventually be the head of the state department of education. But despite earning a larger annual salary greater than 'rich dad' he remains poor because he does not manage to save much from that salary nor invest it wisely. Meanwhile 'rich dad' learns how to build not one but multiple businesses from which he can deploy yet more real assets to expand and expand.

The writing style makes the book very enjoyable to read. There is considerable repetition of the same lessons as the author continues quizzing his 'rich dad' during the years he graduates from the US Merchant Marine Academy, becomes a Marine helicopter pilot in Vietnam and then prepares for his own efforts to become a success in business.