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Sharon Lechter, C.P.A., introduces this book discussing the "Rat Race," where many people find themselves. She also mentions the concept that many Americans have saved nothing for their retirement. Robert Kiyosaki decided to write this book believing it is ill advice for parents to just tell their children, "get a good education, study hard and get a good job." He has six basic lessons that he shares. His ideas will seem radical to some people and he counters these, with examples of choices every person makes. Kiyosaki's early childhood involved his own father, who was an educator. The father of his best friend, Mike, became an important mentor, (rich dad). He considered him to be another father figure, teaching many important lessons. Both men were successful, both men believed in education, but they each recommended different attitudes toward money and investments. The subject of money is taught at home, not in school. Robert's poor dad was poor not because of the amount of money he earned, but because of his actions. His rich dad encouraged him to learn how money works for him and to realize that this is a type of power. Robert's early years show great creativity. Mike and he decided they wanted to be rich and they worked for Mike's dad. This man taught the boys that life is the best teacher, not talking or lectures. The realization that these two dads looked at life so differently was sometimes confusing, but extremely educational for Robert. A smattering of advice that Robert Kiyosaki offers is 1) Avoidance of money is just as psychotic as being too attached to it. Get a handle on the fear aspect. 2) When you forget about NEEDING the paycheck, your adult life will get easier, 3) It is not how much money you make, it is how much money you keep. You need to be financially literate. 4) Learn the true definition for asset and liability. An asset puts money into your pocket and a liability takes money out. One of the most interesting concepts to me in this book was the example of Robin Hood. Robert's poor dad thought Robin Hood was a hero, which his rich dad saw Robin Hood as a crook. Extremely interesting book!!
Reviewed by Rita Ratacheck, August 2003
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