Rich Dad, Poor Dad
by Robert T. Kiyosaki, Sharon L. Lechter · first published 1997
35% recommend32% neutral32% critical
Why HN recommends it
Accessible, story-driven intro to personal finance for beginners: assets versus liabilities, debt, paying yourself first, and thinking beyond a 9-to-5 job. Best taken as a mindset shift rather than literal advice.
Common criticism: Light on substance and evidence, relying on anecdote
Summarised by Claude from recommending comments
April of 2022 marks a 25-year milestone for the personal finance classic Rich Dad Poor Dad that still ranks as the #1 Personal Finance book of all time. And although 25 years have passed since Rich Dad Poor Dad was first published, readers will find that very little in the book itself has changed — and for good reason. While so much in our world is changing a high speed, the lessons about money and the principles of Rich Dad Poor Dad haven’t changed. Today, as money continues to play a key role in our daily lives, the messages in Robert Kiyosaki’s international bestseller are more timely and m
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- The first one, even with all its well-known shortcomings, was "Rich Dad Poor Dad" by Robert Kyosaki. It opened my eyes to "there's another option out there". - Benjamin Franklin's autobiography (translated into modern English). - PG's "Hackers and Painters" (why I joined this forum).…
on “Can Entrepreneurs be Made?” ↗I have read many of the recommend books. Here are my two pence. Books on Wealth 1. "Rich Dad Poor Dad" and find out exactly why someone becomes rich. (if you like this one, at some point you may also want to quickly scan through "Cashflow Quadrant Rich Dad's Guide to Financial Freedom".)…
on “Ask HN: Best books/source to learn about investing?” ↗…non-duality, higher third unification of opposites Hear the Wind Sing (Murakami) - really bizarre and pure, his first one written late nights at kitchen table after working in a bar, before he became famous Rich Dad Poor Dad - solid advice Discrete Maths (Rosen) - interesting and very learnable, a great reference An Imaginary Life (Malouf) - great clarity of writing The Solid Mandala (Patrick White) - amazing observation…
on “Ask HN: What are the books that changed the perspective of your life?” ↗Rich dad poor dad. It got me thinking pro actively about money, paraphrasing "its not I CANT afford it, but HOW can I afford it".
on “Ask HN: Most influential books you read growing up” ↗It also stands to reason that the children of wealthy parents are also taught how to handle money, etc. See the book "Rich Dad Poor Dad" by Kiyosaki. It's really too bad that public schools teach nothing about accounting, finance, the time value of money, the basics of how business operates, stock market fundamentals, taxes, etc. They…
on “Entrepreneurs Aren’t a Special Breed – They’re Mostly Rich Kids” ↗Rich Dad Poor Dad, by Robert Kiyosaki, and his follow on book, Cashflow Quadrant. Those were life-changers when they taught me to think the way rich people do, and I acted on my newfound knowledge.
on “Ask HN: What books have you read that have changed your life?” ↗…cheap you'll be at the end of the line (I'm thinking of not starting businesses like auctions, search, employment, etc. in the 1990's because everything was expensive. ) Learn about Robert Kiyosaki's (Rich Dad, Poor Dad) four quandrants. Investing Learn what's meant by secular & cyclical bull markets and what their length is. Learn how important demographics are (Right now my "baby boom" generation is trying to sell…
on “Ask HN: What do you wish you had known before you turned 40?” ↗Rich parents also are more likely to show their kids how to handle money and get rich. See the book "Rich Dad Poor Dad" by Kiyosaki. Edit: Teaching kids how to manage money, the time value of money, the basics of running a business, how markets work, etc., is painfully neglected by the schools. Young adults often have…
on “It’s better to be born rich than gifted” ↗…I don't treat either or as gospel, and I'm always quick to invoke "all models are wrong, but some are useful". However, they both have some interesting insights that have helped my personal journey. Rich Dad Poor Dad (Kiyosaki) helped me see debt differently. I grew up with the mindset that all debt is bad, it's slavery, and it should be paid off... and that money is meant to be saved. I now realize that money is…
on “Ask HN: What have the past 12 months taught you?” ↗This is the only lesson I really took away from Robert Kiyosaki's "Rich Dad, Poor Dad." People will say what they will about the man, and his kin, that he's a peddler and just another business man out for himself. I'm sure much of that is true, and personally I can't reconcile the fact…
on “Why poor people make poor decisions” ↗Rich Dad, Poor Dad It's by no means a great book, but it covers the basics, it's accessible, and I read it at just about the right time around 18 years of age. Something better / more modern might be: https://www.penguinrandomhouse.com/books/317640/the-index-ca...…
on “Ask HN: Which books made you the most money?” ↗…"Courage is Calling" by Ryan Holiday (yes it was published this year but I found it helpful) - "How to Win Friends and Influence People" by Dale Carnegie - "No One Ever Told Us That" by John D. Spooner - "Rich Dad Poor Dad" by Robert Kiyosaki (Not something I'd read today but there was some good things in their for my naive 20 year old self)
on “Ask HN: Life Changing Books?” ↗Rich Dad Poor Dad, by Robert Kiyosaki
on “Ask HN: What book do you recommend everyone should read?” ↗:the_dip => 'by Seth Godin', :essays => 'by Paul Graham', :art_of_the_start => 'by Guy Kawasaki', :the_innovators_solution => 'by Clayton Christensen & Michael Raynor', :rich_dad_poor_dad => 'by Robert Kiyosaki', :seven_habits_of_highly_effective_people => 'by Stephen Covey', :stanford_technology_ventures_program => 'by Reid Hoffman (i.e., the session he did for STVP)'
on “Articles, Ideas, Books and/or Concepts that have changed your life” ↗"Thou Shall Prosper" by Rabbi David Lapin. One of my favorites. "Rich Dad Poor Dad" by Robert Kiyosaki. Yeah, really. Both this book and the author have been the recipient of a good amount of criticism, but this book help me a lot to increase my thinking beyond a 9-5 job as the primary…
on “Ask YC: Business books actually worth reading?” ↗