![]() ![]() Needless to say, I don't think I missed much from Mr Kiyosaki's interview on the coronavirus. Maybe that is acceptable in the USA, but I wonder if it would enable the buyer to sue Mr Kiyosaki (or the reader) in other jurisdictions. ![]() Mr Kiyosaki gives an example of avoiding contracts to sell his properties by making them contingent on the approval of his business partner, then having the business partner be is cat and saying the cat didn't approve it. The book also seems to be based on the USA, but doesn't clarify this, which may be important if the reader's local laws differ, for example the tax treatment of various assets. His idea is that most people are too timid, but he doesn't offer much to address the reader's fear of failure. It is particularly annoying that Mr Kiyosaki is quick to intersperse the book with self-congratulatory examples of how he found some great deal, and he talks about having made mistakes and lost money, but he doesn't give details about that or, more importantly, how he recovered. That's sort of the "what", but what would be much more useful is the "how". He offers disdain for the "mutual fund" and the diversification that it supposedly offers and he offers some comments that diversification will lower your returns, so you should concentrate your assets in things that you know more about, and you should start early so that if you make losses you have more time to recover. Particularly when they payoff was something like "education is good" or "you have to take risk to earn more." Mr Kiyosaki's attitude towards risk was something that struck me as particularly poorly fleshed out. I don't think that we really need a folksy, long waffling anecdote to illustrate obvious points, and having the inefficient study session sections that basically repeat the same anecdotes a little more efficiently grew tiresome very quickly. Personally, I felt that the content of the book was obvious, at too high a level of generality to be useful, and expressed very inefficiently. If you want to learn how to find opportunities like that, then this book doesn't really tell you much. If you want to learn why those are good things, then this is probably a great book for you. ![]() Basically, I would summarise this book like this: Mr Kiyosaki doesn't give many specific examples, but he does mention buying property with a 16% yield and buying property and selling it for more than double. I put this down to me not properly paying attention, and resolved to just get this book to see what knowledge lay within. I listened to the whole interview, but I couldn't really pin down anything specific from it. He did a great job of creating a sense of urgency and implying that he had specific, actionable knowledge. I half listened to an interview with Mr Kiyosaki on the economic impacts of the coronavirus. PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.ĭo you literally know nothing about money? Teaches you what to teach your kids about money for their future financial success.Defines once and for all an asset and a liability.Shows parents why they can't rely on the school system to teach their kids about money.Challenges the belief that your house is an asset. ![]() Explodes the myth that you need to earn a high income to become rich.Will there be a few surprises? Count on it. and continue to rock more than a few boats in his retrospective. In many ways, the messages of Rich Dad Poor Dad, messages that were criticized and challenged two decades ago, are more meaningful, relevant and important today than they were 20 years ago.Īs always, listeners can expect that Robert will be candid, insightful. Sidebars throughout the book will take listeners “fast forward” - from 1997 to today - as Robert assesses how the principles taught by his rich dad have stood the test of time. In the 20th anniversary edition of this classic, Robert offers an update on what we’ve seen over the past 20 years related to money, investing, and the global economy. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you. Rich Dad Poor Dad is Robert's story of growing up with two dads - his real father and the father of his best friend, his rich dad - and the ways in which both men shaped his thoughts about money and investing. translated into dozens of languages and sold around the world. The #1 personal finance book of all time. ![]()
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