Interesting insights which are generally know. Big focus on increasing your own financial intelligence which, I agree, is not taught in schools. Important focus on the weak areas that might be stopping each individual from reaching their top level of intelligence (which applies for every aspect of our lives).
Financial intelligence according to this book is gained through learning about finances, financial risk, investment, taxes and business law as early as possible, investing and taking risks, learning from top expert in each field (to save yourself time) and honing the skill to a higher level with each year of active experience.
Some points stood out now that I am reading from a more European socialist environment and some ideas are definitely not as applicable but a great book to get you thinking about your own management of money and depending less on your job, state and pension for the financial freedom you want.
Personally I took away two mains ideas:
1) It is ok to fail and the wisest investors are those who have learned through their failures.
2) Every month you must pay yourself first before you pay other (rent, food, taxes, etc) - was rather counterintuitive at first, but I understand it and agree with it after reading the book.
"Invest first in education. In reality, the only real asset you have is your mind, the most powerful tool we have dominion over. "
"Simply put, people who have low self-esteem and low tolerance for financial pressure can never be rich. As I have said, a lesson learned from my rich dad was that the world will push you around. The world pushes people around, not because other people are bullies, but because the individual lacks internal control and discipline. People who lack internal fortitude often become victims of those who have self-discipline."
Really pushes you to take control and learn about money in a whole different way! Challenging and inspiring
1st half is very good but the 2nd half belong to real estate investors
Its really amazing story teach this to young students who want to be rich who wants to enter the higher air, you are not born to be poor if you are born poor, its you what you chose!
It's 99% fiction (including the whole rich Dad story) and 99% water or pure bs. There is no evidence Kiyosaki made investments before this book came out. His company declared bankruptcy. That's all you need to know.
Financial education should be paramount since childhood, we are taught from small to work and earn our money, but not how to invest it or what we should do. Kiyosaki says in the book "Money without financial intelligence is money that soon disappears." Luxuries cannot be paid with credits, education is an investment, you must be able to pay on credit. I recommend reading this book
I loved it! Being proactive is very important as well as investing in the knowledge that can bring you money. It is true, some people never wants to pay for a certain course because it is too much money and precisely that is why they never make a large amount of money, they are simply missing a bigger picture
What a great content, author did a great job of letting me see a different view
This book exposes a lot to financial literacy and the secrets to wealth which isn't necessarily a part of the school curriculum/syllabus. It encourages parents to instill a certain level of drive and orientation in their wards so they can compete fairly in the real world. Definitely a must-read for parents and kids in their teens
Very interesting and highly knowledgeable. Worth reading for those ready to be self-dependant in life.