I’m a little let down by the last few chapters of Rich Dad, Poor Dad. The first chapters grab your interest, and you anxiously await Rich Dad’s words of wisdom. But by the time the author gets into the meat of the subject, his writing (and the editing) fall flat. He uses incomplete sentences, poor grammar, repitition, and references to material that doesn’t seem to exist.
Putting aside the poor writing, there are three basic messages I got out of this book:
1. The US tax code is structured so that it’s almost impossible to get ahead by working for a living. Income is heavily taxed, wealth is not. (This is probably not the most socially equitable arrangement, but it’s what we have for now. See Warren Buffet’s recent comments.)
2. Given 1., you should put your money in revenue-generating assets. These include real estate, investments that pay dividends, etc. Then incorporate and pay all your (legal) expenses out of your corporation.
3. Be creative and take risks. You’ll never “win” if you never try.
