Rich Dad Poor Teach Middle Reviews Summary

Financial Education

Pros:

• "This book is a complete game-changer in financial education."
• "One of the most powerful ideas presented in 'Rich Dad Poor Dad' is the importance of financial education."
• "The book not only teaches you the importance of financial literacy but also offers practical advice on how to escape the rat race and achieve financial independence."
• "Rich Dad, Poor Dad places great emphasis on understanding the difference between an asset and a liability."
• "This books lays it all out and completely changes the way you think about money."
• "The book has some useful information on how to build wealth and sustain it."
• "There are economics concepts presented here in a simplicity that I've never seen before."

Cons:

• "Most of the tall claims of Author are fake and highly advise to avoid his unauthentic advise."
• "It seems that young people like this book because it feeds the lie that you don’t have to work hard in life to become financially successful."
• "The useful content in this book is the basic financial education you will find in any other book."
• "Kind of a fairy tale jokeLots of advice for those who don't know anything about investing."
• "It’s a contrived and predictable motivational book - it is not a practical guide to building wealth."
• "This is a terrible book if you actually want to learn anything about investing."
• "Most of the book attempts to motivate the reader to learn more- to get a financial education - BUT doesn't provide the education!"

Impact on Mindset

Pros:

• "This book should be mandatory as part of the curriculum in every middle/high school!"
• "I liked because it is very inspiring for young people or other changing the professional path to have a better and balanced live."
• "This book can change your financial life!! We live in a capitalist country why wouldn’t you want to know how to make money work for you."
• "I feel I’m a different Person now after reading this book."
• "I now have an entirely new way of looking at money I never knew existed."
• "It completely shifted my mindset about money and wealth."
• "This book is a must read for any young person who doesn't know where to start on their financial journey."

Cons:

• "Kiyosaki's own company went to bankruptcy and there is no documented reserve of wealth prior to his publication of this book in 1997."
• "Unfortunately, that message seems a little diminished when the author praises the grifter Donald Trump."
• "Everybody already knows the rich don't work for money and they make their money work for them."
• "This is because we are not taught financial intelligence in school, even though it's important for personal and societal prosperity."
• "The road to wealth is bumpy."
• "He's never seemed to be a person who's father had a PhD--the poor dad, as he calls him."
• "It is worth noting that he had zero wealth until publishing his book, his prior companies went bankrupt."

Practical Advice

Pros:

• "Kiyosaki advocates for prioritizing saving and investing a portion of income before paying expenses, a concept known as 'paying yourself first.'"
• "Only invest in assets, not liabilities."
• "Stop buying things that lose money or cost more money, and buy things that grow in value or make money for you."
• "Invest in things that generate value like stocks, bonds, tax lien certificates, real estate, etc."
• "Make a list of 'wants' and 'don't wants' and refer to them occasionally for motivation."
• "Your profession pays the bills. Your business creates wealth."
• "You have to learn to make your money work for you."

Cons:

• "You will not find a step by step instruction manual on what to do, or what investments to make."
• "Poor advice regarding real estate in the original edition led someone I know to sell their home in 2008 when the market was scary."
• "Unfortunately, I don't feel like I gleaned much useful information."
• "This is a book written by a man who feels vastly superior to the poor and the middle-class."
• "It is essential to change our thoughts to change our live."
• "The method and mindset of this approach to acquiring wealth will probably only be successful about one out of a thousand tries."
• "The pages where financial education and the cashflow quadrant are important in order to be wealthy and understand money."