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I appreciated the matter-of-fact tone and digestibility of the material. I was in high school then, so I would probably benefit from a rereading since its lessons will be more valuable to me now. I recommend that book over this one. And if you want to save some money, browse the online lectures and discussions that he used to write the book.
Because of the non-traditional process by which this book was written and published, the author tends to repeat himself to a heinous fault. When I began reading, I was ready to give this book four stars, but as I continued, my feelings went south. The site contains a lot of material, but it also serves as an informative, continuously updated supplement to the lessons laid out neatly in the book.
The book is divided in two parts. The first part provides a concise history lesson explaining how we got into this mess and gives readers a reason to stick around for Part 2. The second part attempts to provide some solutions that us regular folks can implement to safeguard our finances from tough times ahead. Lessons from Part 1 -Obama is not going to save you, nor is the government.
He might be capable of doing great things, but his power is greatly overshadowed by the wealthy few who own the Federal Reserve, which is not a bank, is not American, and has no money. We were taught academic skills so we could get jobs, buy homes, and pay taxes like good little employees. Instead of acting as a "reset button" for our economy, it could sink us entirely and wipe out the middle class.
Two key reasons are the fact that our money is no longer backed by gold, and the US exports more debt than anything else. Lessons from Part 2 -Throw everything you thought you knew about money out the window. Mutual funds and savings accounts may earn you a pittance, but they come with some of the highest taxes.
He mentions this at least once per section, thus my two-star rating. I like that he brought up the Jim Cramer vs. I remember watching it with my dad in his home office shortly after the episode aired and having a good discussion about it afterward. Although Stewart probably incited his audience to stand alongside him calling bullshit, I highly doubt anyone gave our predicament much thought several hours, let alone days later. Our lack of education will be what destroys us, Kiyosaki warns.
He frequently reiterates the problems with our current mindsets. The stock market is a crap shoot, my income from mutual funds will be taxed to holy hell, and by saving money I inadvertently cause inflation to rise, thus devaluing my money further.
What then? Furthermore, what should I do with my paper assets while I increase my financial IQ as the author repeatedly suggests? What do I do in the meantime? Instead of peddling his board game, Kiyosaki should have spent more time discussing the "How" portion of his lessons. HOW did he do that exactly? He said he invests in a successful oil drilling operation. HOW did he come to find the key people in setting up such an investment? That book again is Rich Dad, Poor Dad. He makes a good case for why playing the game is better than reading the same information.
As education theory suggests, we learn best by doing. But since he mentions the board game Cashflow ten times as often as he discusses the concept, he ought to give a price break to those of us who actually purchased his online book.
What do you say, Robert? To view it, click here. I never read Rich Dad, Poor Dad but heard about it. This book was given to me while on holidays by a fellow traveler. He thought it was a useful book that you can use to your advantage for investing your money. I normally would never read this kind of book but felt that I have picked up some good information from it.
First part of the book deals with the problems with the financial system and the current financial crisis. He blames the Federal Reserve that was created in as the starting point. Then the removal of the gold standard in All of these contributed to the disaster of He explains that the education system is the reason that most people do not understand financial ideas and terminology.
Wall St. After you get a job you are told to buy a house because it is an asset, but in reality it is a liability. You, the worker, are the asset if you are able to repay the mortgage to the banks each month. Then when you retire you are forced to put your k in mutual funds investments.
Mutual funds that can suffer badly when everything on Wall Street goes tits up. The money that you, the average worker, earn throughout your life is mainly controlled by banks and Wall Street. He wants you to change that and take control of your money yourself. Some the stuff he talks about in the first half of the book is all classic "conspiracy" stuff that I had read before but it was good to hear it from a top selling mainstream author.
The second part of the book deals with solutions. He really stresses the need for more financial education in schools and for individuals. All of his investments generated cashflow. Cashflow is key. Another idea he stresses is where you fit into his cashflow quadrant called ESBI. He sees cashflow as the most important aspect of his financial life.
I have not tried it. There is much more and it is an easy book to read. I would recommend it to young people and could open their eyes to the workings of the financial world. Not surprised to learn he came up through Amway. Rich Dad is a literary Ponzi scheme. For those that are completely unaware of the function of the Federal Reserve and the mechanisms and workings of global finance, ie most people, the information in this book may be potentially valuable and eye opening.
Kiyosaki barely skims the surface of this subject however. His advice can be distilled to the truism: make your money work for you, as opposed to only working for a paycheck.
Needless to say there are more sophisticated works on investing. As a brief introduction to the current financial crises this book is a success. Unfortunately, readers have to sift through a great number of Rich Dad marketing pages and repetitive talking points to get to the meat of this book.
My wife bought a fried chicken from Wal-Mart last night. Most of the "chicken" consisted of fried breading, rather than fleshy good stuff. The little poultry meat I found was delicious, but our family will be Mr. The little poultry meat I found was delicious, but our family will be better off buying free-range, skinless chicken breasts from now on.
How does this analogy relate to this latest installment of the Rich Dad series? Peel off the skin and read the parts, in which Kiyosaki talks about real estate, stock options, and commodities. Of course, he never actually gets into the details of how to launch the business, real estate, and investing ventures he advocates.
You have to buy more of his stuff to figure that out. Kiyosaki uses each chapter of this book as a marketing point for his games and business solutions, which cost hundreds of dollars.
La conspiración de los ricos
La conspiración de los ricos, por Robert Kiyosaki