iReview: Rich Dad Poor Dad by Robert Kiyosaki

Rich Dad Poor Dad is built around a premise that none could possibly disagree with - that it is highly essential to build financial intelligence early in life. The author, Robert Kiyosaki is pretty much convincing in his explanations mostly by comparing the financial dealings of his rich dad & poor dad.  Large part of his recommendations are fundamental financial principles; learn to define assets / liabilities, Increase assets, keep expenses to the minimum, have an alternative source of income, spend on luxuries last and only after  accumulating good amount of assets, and maintain financial discipline. He actively encourages his readers to take actions involving money and investments, also warning that there would be failures along the way, while assuring that it is also how we are programmed to learn. These universal tenants of finance draw little controversy.  However, the methods he suggests adopting in order to amass wealth, is what I am not exactly sure about and that's where the agreement ends. My first problem with the book is that it's way too repetitive & doesn't move on or conclude when the point is already made. It could very well have been wrapped in half the number of pages.  Secondly, the over emphasis on the taxes. Though I do not subscribe to the philosophy of very high tax regimes, I am also not as against it as the author seems to be, recognizing well that as a contributor to social costs it is only right that each individual owns a part of it. Then  comes the idea on real estate as an investment vs mortgage as a liability needing a more elaborate explanation as categorizing 'owning a house' in the liability column is too generic and thereby might not be relevant across the board. Aside from the security it offers the owners,  it is also the same sentimental value that in some cases pushes the prices up for the so-called investors to bank on! Finally, owning corporations is not an idea that seems practical for everyone or even the majority to follow. It is an idea that completely ignores the entrepreneurial gene and individual interest.It is like expecting everyone to do well at Maths because it is supposed to be beneficial.  However, in spite of the disagreements, the book can be considered a primer in emphasizing the importance of acquiring financial knowledge in the least. Choosing methods is anyways up to the individual circumstances, appetite for risk, strengths and so on.