Rich Dad's Rich Kid, Smart Kid: Giving Your Children a Financial Headstart

Rich Dad's Rich Kid, Smart Kid: Giving Your Children a Financial Headstart | Robert T. Kiyosaki, Sharon L. Lechter | Great audio book!

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Rich Dad's Rich Ki...

	Rich Dad's Rich Kid, Smart Kid: Giving Your Children a Financial Headstart Robert T. Kiyosaki, Sharon L. Lechter Warner Business, 2001 - 288 pages average customer review:based on 74 reviews view larger image
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Growing up with two father figures, a Rich Dad and a Poor Dad, Robert T. Kiyosaki understood well the importance of financial planning. In this easy-to-read parenting guide, Kiyosaki and co-author Sharon Lechter design a step-by-step guide to moms and dads to explain to their children the basics of our financial economythe employees, the self-employed, the business owners, and the investors. The authors explain that providing children with financial problem-solving skills, can help to ensure a profitable future.

Best Book My Daughter Has Read!

The title is her words not mine. I bought this book thinking that she might get through the first 3 or 4 chapters before she put it away in favor of her school work. Instead she carries it with her to school and reads it when she finishes her work. One of her teachers asked her about the book and after my daughter finished raving about it the teacher decided to get a copy for her self. That teacher now uses the book and it's principles in her classes.
What better testimony about a book than it is now being used in an academic setting?
My daughter has also surprised me by asking financial questions when we are alone. I am now in the middle of a job hunt and she asked me questions about what my salary would be with a new company. She listened intently as I explained negotiations over salary once I was offered a job. I explained the different factors that went into determining what I would ask for as a salary, such as distance to the new job, what others were making doing the same job, and benefits such as medical, dental, and of course vacation time. For an 11 year old she had an amazing grasp of what I was talking about. I believe this understanding came from reading this book. My son on the other hand, who is 24, is still working in a dead-end job making minimum wage. I gave him "Rich Dad, Poor Dad" and the cover has never been broken.
Buy this book for your kids; it is well worth the "investment" to teach kids how money works. Do it now while they are young.

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Great audio book!

Great audio book. Gives you information to help you teach your kid about money, and ways to keep you from over indulging your kids.

A useful resource, worth the price

If you've read Robert T Kiyosaki's other books such as Rich Dad Poor Dad, the ideas presented in Rich Kid Smart Kid will probably not be new to you. However, the information is reorganised to focus on applying the Rich Dad concepts to the task of educating your child, which allows this book to remain a useful resource- even if it isn't 100% new.

Most helpful, in my opinion, are the parent-child interactive activities recommended by the book. For example, one suggestion is to take your child to the bank and ask the banker what interest rate they pay on savings as well as what they charge to borrow. Without the need to understand complicated math formulas, your child will quickly see that banks charge more than they pay, which will hopefully prompt questions in the mind of your child. Those questions will inspire your child to get answers that inevitably increase your child's financial intelligence.

One knock I often hear about this book, or any self-help title for that matter, is that the ideas are obvious. Some people wish to argue that because a concept is simple it is not useful. I couldn't disagree more. I try to judge the value of a thing by whether or not I get enough out of it to justify the cost, be it in dollars or time. If you cannot get the purchase price of this book back out of it in value, then you just aren't trying very hard.

While some of the concepts may seem obvious or simple in nature, it is the application of these concepts that produces real results. Some of the most complicated subjects in our world can involve very simple ideas. Think "What goes up, must come down." Simple, yes, but the practical applications involving gravity occupy a great deal of study time among physicists of the world.

My point is simple. This book gives you a variety of ideas and suggestions that will help you improve your child's financial education, but YOU have to be the one to do the work. Is it the world's greatest book and ultimate problem solver in the universe? No. Is it worth the purchase price? Without a doubt, absolutely yes.

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