What the Rich Teach Their Kids about Money : That the Poor and the Middle Class Do Not! by Sharon L. Lechter (2001, Compact Disc, Abridged edition) for sale online | eBay (2024)

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• 4 out of 5 stars

  by sai9njwtvMay 17, 2006

  Solid non-fiction framework with fiction illustrations

  Before reading this book, I had no answer to the question why the children of rich parents are rich and the descendants of poor people are poor, and why poverty is eternal while broke is temporary. I didn't know why rich persons quickly recover from bankruptcy while poor people even winning millions in a lottery sooner or later revert to the poverty again.This is the first book I ever read that clearly and briefly provides the response to the question. What differs rich from poor is not how they earn their money but how do they spend their money. Rich people spend all the money on money-generating assets, and the rest is kept for luxury like big houses or nice cars. Luxury is merely a reward for a high cash flow from the assets. Not enough money comes from the assets - no luxurious toys. Poor is the opposite - they buy liabilities like a big house and a powerful car which besides mortgage and credit payments require a big sum of money to upkeep them. Thus the poor class is always in debt and is deprived of money required to purchase the sources of income.The most of the case vignettes of the book are fiction, and the author warns not to follow them literally but to use them as a source of inspiration and imagination and always use your own brain and your own judgment. Do not treat this book as the author's biography, as it may have seemed so. When I read a chapter about the childhood of mr. Kiyosaki and his next-door playmate, Mike, I've found so much interest, stimulation, liveliness and variety in this section that I've instantly realized that it is a literary work of imagination.Because of the author's excessive mixture of real names and thought out cases, some people may conclude that mr. Kiyosaki is trying to trick or deceive them (e.g. "John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad"). Please do not think this way about "Rich Dad Poor Dad", just treat it as a solid non-fiction framework with fiction illustrations.Read full review

• 5 out of 5 stars

  by lubo590Mar 04, 2007

  Rich Dad,Poor Dad.

  I saw Robert Kiyosaki on TV recently, and like his style of speech - informative, not boring and no pressure to buy his products.I was looking for sources to improve my financial edication, and his audiobooks fit my need.I prefer audiobooks, because I can listen to them in the car or on my iPod while driving.This way my drive to work is not a waste.I enjoyed listening to "Rich Dad,Poor Dad" so much, that I bought a few more audiobooks authored by Rober Kiyosaki.I enjoyed them once, and started listening a second time.The only thing I dislike about the audiobooks is, that some are the abridged. Iwould prefer to have an unabriged version, so I would not miss anything that isin the written form.

• 5 out of 5 stars

  by BgasT8p4R1W@Del...Oct 14, 2006

  How the rich become rich

  Rich Dad Poor Dad has been around long enough now so that everyone should know it's the true story of Robert Kiyosaki's 2 fathers; one rich, one poor and how Kiyosaki developed financial literacy.This book will tell you some things that you don't want to hear like a house is not an asset. That financial literacy is different from educational literacy. That your income is not your wealth. Investors are different from savers and so on.Easy to understand why some people fail to understand the concepts taught by Robert Kiyosaki.The real question is: How are doing financially? I mean really?You can live in a big house, have 3 cars, a nice job and a big income, but if you are living on 125% of your income, you are still a poor person.It's cash flow that determines your wealth. If you spend all you make, plus some, you are in a negative cash flow.As Kiyosaki explains, "assets feed you, liabilites bleed you." Too many people have too many liabilities and too few assets.Unfortunately, some people feel this is normal because everyone else does it as well. ENT!401 (k) plans are savings plans according to Kiyosaki and nothing wrong with that as long as you understand that you have a savings plan. Never call these programs investments. Unfortunately, most people do. Investers get in and get out and understand the risk. Investors also make money whether the market goes up or goes down.Savers since March 2000 look at their 401 (k), mutual fund statements, brokerage accounts which they mispronounce "investments" and all they see is red. Typical "Poor Dad" mentality.Kiyosaki also enlightens on income vs expence ratio. The role that taxes plays on slowing wealth accumulation. "It's not what you make, it's what you keep" says Kiyosaki.Rich Dad Poor Dad teaches you to act like, be like and think like a Rich person instead of a poor person.13 years ago was the first time I recieved training from a truly rich person. This guys net worth was in excess of 1/4 of a billion dollars. I had the gall to tell this guy that his advice was interesting but my concern was that it did not coincide with with I had been taught by parents, relatives and other family members (Poor Dad mentality).This man was kind, smiled and asked me politely and seriously; "How many of those people who taught you were rich?"Good question and I got it right away. The fact is, no one in my family was rich. There were sincere and meant well, but not rich. This guy was. I wanted wealth, not just security.Robert Kiyosaki is offering the same advice. If you want to be rich, listen to a rich person.Rich Dad Poor Dad is a excellent book to get you started on the road to wealth. I highly recommend it.Read full review

• 5 out of 5 stars

  by t4ZKEcIpTLK@Del...Oct 10, 2005

  Have $$ Issues??? -- Buy this Book!!

  I purchased the Audiobook to take along on a long road trip with my husband. The incidents that are depicted between the Rich Dad and the Poor Dad lead you toward your own upbringing around money, creates an understanding of why you have created wealth or a poverty consiousness and how to overcome them, without sounding like a self-help book. I had so many ah-ha moments and this book created such excitement in me that I want to give this series to all my kids who are now grown adults. I know that this will be helpful for them and their future.One would think this book is more of a business, investment type presentation; but I can guarantee that you will want to know more and more! A great presentation on money and how to bring it into your life!!!

• 5 out of 5 stars

  by pauljcrewsJul 28, 2010

  Rich Dad Poor Dad (2001, Compact Disc.)

  Not haveing a lot of time to read the book I choose to hear it on CD. I have heard for years that I should read this book and the words and stories would help you learn more about the money you make and how to spend it would change your life. Well, many of the leason in this CD are leason I have learned the hard way and now I know how to channel / route my money so I can keep most of the money earned so I can focus on helping others that want a JOB / Career get back to work while running a company - companies.Thank you Robert T. Kiyosaki for sharing your Rich Dads information. My own poor Dad always had a reason why we CREWS's would never be rich.. Now I know without a doubt, he was full of S**t.. He just did not know the rules of the game or choose not to learn. My Dad is a good man but lacked the know how to end the statments that conditioned my mind. Dam at age 39, I truly understand now..Read full review