Book review: Rich Kid Smart Kid

RICH KID SMART KID

By Robert T Kiyosaki

TechPress $32.95

Reviewed by David Doyle


If you, like me, have walked past Robert T. Kiyosaki's books in the airport countless times, plumping instead for a lighter read on the plane, I am delighted to say I can now put you out of your misery.

Or at least, I can confirm that if you thought Rich Dad Poor Dad looked tacky, Rich Kid Smart Kid is worse.

To be fair to Kiyosaki, the book has a number of excellent concepts. Unfortunately, they come with references to previously acknowledged tomes - and dated ones at that.

For example, he simplifies the excellent theory of emotional intelligence of David Goleman by paraphrasing the concept as me talking to myself and you talking to yourself.

The second and most frustrating aspect is that he has virtually rewritten his first book under a different title.

I am sure Rich Dad Poor Dad is a great and inspirational read (I have to plead ignorance).

But the sometimes wafer-thin premises are stretched even thinner by using the same old bones in the watery soup.

The biggest drawback is not the lack of value or content - there are some valuable lessons about money - they are just couched in long-winded or banal tales that at times lose all impact.

The other frustration is the eclectic nature of Kiyosaki's subject matter - not, one senses, because of the diversity and fascination of his life-learnings, but in an attempt to pad out the book.

If you are inspired by chapters headed "How Many Winning Formulas Will Your Child Need?" "Will Your Child Be Obsolete by Thirty?" "Will Your Child Be Able to Retire before Thirty?" - then go for it.

If, like me, you find it hard to get your children to tidy their room, then increasing your child's financial IQ by getting them to play the cashflow game is likely to be a stretch.

If you have the time and the bravado actually to have your child aged 11 interview your bank manager, you probably don't need a book like this to help you get on in life.

I'd suggest the return on a movie ticket and a meal with your kid is likely to be a far more pleasant and mutually beneficial experience.

* David Doyle manages professional services recruitment for TMP Worldwide.