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Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money
In late January, 2009, Robert Kiyosaki launched CONSPIRACY OF THE RICH - a free online book which was written in serial basis to help people understand how the current recession came about, and what they need to learn on how to survive through the coming rough years.
An unprecedented publishing event for Kiyosaki and The Rich Dad Company, CONSPIRACY OF THE RICH is an interactive, "Wiki-style" project in which Kiyosaki has invited feedback, commentary, and questions from readers across the globe.
The response so far has been totally fantastic. Millions and millions of readers have flocked to the website (www.conspiracyoftherich.com) to read what Robert has to say about the recession, and the readers have posted thousands of comments. Some of those reader comments will even be included in the final tradepaper version.
An unprecedented publishing event for Kiyosaki and The Rich Dad Company, CONSPIRACY OF THE RICH is an interactive, "Wiki-style" project in which Kiyosaki has invited feedback, commentary, and questions from readers across the globe.
The response so far has been totally fantastic. Millions and millions of readers have flocked to the website (www.conspiracyoftherich.com) to read what Robert has to say about the recession, and the readers have posted thousands of comments. Some of those reader comments will even be included in the final tradepaper version.
272 pages, Paperback
First published January 1, 2010
231 people are currently reading
3936 people want to read
About the author
Robert T. Kiyosaki
530 books9,368 followersRobert Toru Kiyosaki is an American businessman and author, known for the Rich Dad Poor Dad series of personal finance books. He is the founder of the Rich Dad Company, a private financial education company that provides personal finance and business education to people through books and videos, and Rich Global LLC, which filed for bankruptcy in 2012.
Since 2010, Kiyosaki was the subject of a class action suit filed by people who attended his seminars, and the subject of investigative documentaries by the CBC, WTAE-TV and CBS News. In January 2024, Kiyosaki revealed that he was more than $1 billion dollars in debt.
Since 2010, Kiyosaki was the subject of a class action suit filed by people who attended his seminars, and the subject of investigative documentaries by the CBC, WTAE-TV and CBS News. In January 2024, Kiyosaki revealed that he was more than $1 billion dollars in debt.
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Displaying 1 - 30 of 179 reviews
October 30, 2010
After the first couple of chapters I figured out that this book was kind of like some pop song where you have 3 lines that you repeat over and over. Maybe it's because I have a general understanding of the history he is trying to summarize but I rather think that since he has established his name he thinks he can continue to support his cash flow project by writing empty content books.
I had expected much more and was hoping to learn some practical advice about how to survive in the current and future economic climates. I'm glad I borrowed this book from the library so I didn't waste my money and contribute to his unearned success.
I had expected much more and was hoping to learn some practical advice about how to survive in the current and future economic climates. I'm glad I borrowed this book from the library so I didn't waste my money and contribute to his unearned success.
December 7, 2009
Now that I've caught up on my pop-culture reading from circa 2006, I thought I'd treat myself to something current and exponentially more useful. Robert Kiyosaki's latest book in the Rich Dad series was written "entirely online" earlier this year and published just a few months ago. Since the US is in the midst of the largest fiscal storm the world has ever seen, it's no surprise this book is written like Farenheit 9/11 for money.
I read Kiyosaki's first book in the series, Rich Dad, Poor Dad back in 1998. The title comes from lessons he learned from his biological (poor) dad versus those from a friend's (rich) dad. 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. I don't regret buying the book, since it organizes the information more nicely than the site I refer to in the previous paragraph. 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. Although Obama billed himself as a president for change, he's still giving bailouts to big business and taxpayers will continue to fund them. 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.
-Most of us are at a disadvantage because we were not educated to manage money and increase our wealth. We were taught academic skills so we could get jobs, buy homes, and pay taxes like good little employees.
-We may be in for another depression. The author discusses the one in the 1930s and how today's will be different. 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. The biggest shocker for most people is that your home isn't an asset. It's a liability that can go down in value and cost you money.
-Look for cash flow opportunities instead of capital gains. That way, you don't have to depend on the stock market and economy (things we have no control over) to make money. Mutual funds and savings accounts may earn you a pittance, but they come with some of the highest taxes.
-Kiyosaki created a board game called Cashflow that will help you practice the fundamentals taught in the book. He mentions this at least once per section, thus my two-star rating. The game seems like a great concept, but I don't appreciate being beaten over the head with marketing wharrrgarrbl when I'm trying to read about personal finance.
I like that he brought up the Jim Cramer vs. Jon Stewart conversation on The Daily Show back in March. I remember watching it with my dad in his home office shortly after the episode aired and having a good discussion about it afterward. Financial news media doesn't differentiate between long-term and fast-paced markets, and the latter, as Stewart describes, "is ethically dubious and hurts the long-term market." And we pay the price. 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.
Let's say I have just enough money in the aforementioned areas (stocks, funds, and savings) to make a difference (tens of thousands), but not enough to buy a rental property or invest in a business. What then? Furthermore, what should I do with my paper assets while I increase my financial IQ as the author repeatedly suggests? He said there's a lot to learn and I believe him. 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. For instance, he said he brought his $400K debt to zero. 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?
I appreciate his encouragement to become a good salesman (even if you're not in sales), educate yourself, and think like a rich person. Don't say, "I'll never afford it," but instead, "What do I need to do to afford it?" He puts the reader on a good track, but he needs to provide more concrete examples of what his readers should do when they're ready to change their ways.
This book's glaring deficiency may be the result of one of two things:
1) He is a poor writer, although he admits that he isn't trying to be a best writer, he wants to write a best seller, and he has. (That book again is Rich Dad, Poor Dad.)
2) He wants you to buy that damn board game. 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?
I read Kiyosaki's first book in the series, Rich Dad, Poor Dad back in 1998. The title comes from lessons he learned from his biological (poor) dad versus those from a friend's (rich) dad. 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. I don't regret buying the book, since it organizes the information more nicely than the site I refer to in the previous paragraph. 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. Although Obama billed himself as a president for change, he's still giving bailouts to big business and taxpayers will continue to fund them. 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.
-Most of us are at a disadvantage because we were not educated to manage money and increase our wealth. We were taught academic skills so we could get jobs, buy homes, and pay taxes like good little employees.
-We may be in for another depression. The author discusses the one in the 1930s and how today's will be different. 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. The biggest shocker for most people is that your home isn't an asset. It's a liability that can go down in value and cost you money.
-Look for cash flow opportunities instead of capital gains. That way, you don't have to depend on the stock market and economy (things we have no control over) to make money. Mutual funds and savings accounts may earn you a pittance, but they come with some of the highest taxes.
-Kiyosaki created a board game called Cashflow that will help you practice the fundamentals taught in the book. He mentions this at least once per section, thus my two-star rating. The game seems like a great concept, but I don't appreciate being beaten over the head with marketing wharrrgarrbl when I'm trying to read about personal finance.
I like that he brought up the Jim Cramer vs. Jon Stewart conversation on The Daily Show back in March. I remember watching it with my dad in his home office shortly after the episode aired and having a good discussion about it afterward. Financial news media doesn't differentiate between long-term and fast-paced markets, and the latter, as Stewart describes, "is ethically dubious and hurts the long-term market." And we pay the price. 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.
Let's say I have just enough money in the aforementioned areas (stocks, funds, and savings) to make a difference (tens of thousands), but not enough to buy a rental property or invest in a business. What then? Furthermore, what should I do with my paper assets while I increase my financial IQ as the author repeatedly suggests? He said there's a lot to learn and I believe him. 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. For instance, he said he brought his $400K debt to zero. 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?
I appreciate his encouragement to become a good salesman (even if you're not in sales), educate yourself, and think like a rich person. Don't say, "I'll never afford it," but instead, "What do I need to do to afford it?" He puts the reader on a good track, but he needs to provide more concrete examples of what his readers should do when they're ready to change their ways.
This book's glaring deficiency may be the result of one of two things:
1) He is a poor writer, although he admits that he isn't trying to be a best writer, he wants to write a best seller, and he has. (That book again is Rich Dad, Poor Dad.)
2) He wants you to buy that damn board game. 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?
January 19, 2010
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 1913 as the starting point. Then the removal of the gold standard in 1971. Then Glass Seagall Act during Clinton's reign. All of these contributed to the disaster of 2008.
He explains that the education system is the reason that most people do not understand financial ideas and terminology. Wall St. use complex wording for what in essence basic financial ideas.
The education system was developed by John D Rockefeller funded/inspired committees. It's purpose was to create a good employee through the education system and not a good employer.
Basically you go to school and college to work for corporations/Wall Street/government not to become an entrepreneur. 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 401k 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. He invests in his own business,oil drilling companies, share portfolio(commodities), gold/silver and property. All of his investments generated cashflow. Cashflow is key.
Another idea he stresses is where you fit into his cashflow quadrant called ESBI.E for Employee, S for Self Employed, B for Business Owner and I for Investor. E & S groups represent 80% of the world's population and possess 5% of the wealth. B & I represent 20% of world's
population and possess 95% of the wealth. So obviously getting into B & I will make you very rich!
He sees cashflow as the most important aspect of his financial life. He created a game called Cashflow, to help people improve their financial knowledge and move into the B & I quadrants. 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.
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 1913 as the starting point. Then the removal of the gold standard in 1971. Then Glass Seagall Act during Clinton's reign. All of these contributed to the disaster of 2008.
He explains that the education system is the reason that most people do not understand financial ideas and terminology. Wall St. use complex wording for what in essence basic financial ideas.
The education system was developed by John D Rockefeller funded/inspired committees. It's purpose was to create a good employee through the education system and not a good employer.
Basically you go to school and college to work for corporations/Wall Street/government not to become an entrepreneur. 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 401k 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. He invests in his own business,oil drilling companies, share portfolio(commodities), gold/silver and property. All of his investments generated cashflow. Cashflow is key.
Another idea he stresses is where you fit into his cashflow quadrant called ESBI.E for Employee, S for Self Employed, B for Business Owner and I for Investor. E & S groups represent 80% of the world's population and possess 5% of the wealth. B & I represent 20% of world's
population and possess 95% of the wealth. So obviously getting into B & I will make you very rich!
He sees cashflow as the most important aspect of his financial life. He created a game called Cashflow, to help people improve their financial knowledge and move into the B & I quadrants. 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.
This entire review has been hidden because of spoilers.
December 17, 2014
Too bad a minus star isn't available. I've been curious about the "rich dad" brand for a while, so I borrowed this from the library. It's one page of self-promotional sales screech after another (he shills his games and other books), padded with badly garbled economic thinking (the Federal Reserve prints money) and flatitudes like "money is knowledge" (one of the 8 "new rules of money"). Yeah, there are some unoriginal business ideas that would've fit on a single page of paper. If he had any public spirit at all he would've released this as a free blog. Not surprised to learn he came up through Amway.
Rich Dad is a literary Ponzi scheme.
Rich Dad is a literary Ponzi scheme.
March 1, 2010
Kiyosaki's latest entry in his endless 'Rich Dad' series melds watered down economic conspiracy theory with his plain spoken approach to real estate focused investing. 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. Edward Griffin's, 'The Creature From Jekyll Island,' whom Kiyosaki recommends, is a more in depth starting point. As for Kiyosaki's investing advice, he offers few specifics and many generalities that he has already covered in previous 'Rich Dad' books. 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. Nevertheless, Kiyosaki's intended audience is the everyman and he has a gift for describing financial principles in an easily digestible, folksy manner. As a brief introduction to the current financial crises this book is a success.
February 23, 2011
Mr. Kiyosaki's advice is very sound. 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. As I dug into the greasy beast, I remembered one of the many reasons I don't like fast, processed food. 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 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?
Don't eat the whole fried chicken leg or read all of this book. 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. However, if you'd like to market your own advice, products, or materials for profit, pay attention to the underlying purpose of this book.
Throughout Rich Dad's 'Conspiracy of the Rich,' Kiyosaki hints at an esoteric knowledge of obtaining wealth, kept secret by the affluent. As a rich guy, he's doing a good job at keeping that secret--unless you pay for his products. Kiyosaki uses each chapter of this book as a marketing point for his games and business solutions, which cost hundreds of dollars.
My wife bought a fried chicken from Wal-Mart last night. As I dug into the greasy beast, I remembered one of the many reasons I don't like fast, processed food. 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 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?
Don't eat the whole fried chicken leg or read all of this book. 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. However, if you'd like to market your own advice, products, or materials for profit, pay attention to the underlying purpose of this book.
Throughout Rich Dad's 'Conspiracy of the Rich,' Kiyosaki hints at an esoteric knowledge of obtaining wealth, kept secret by the affluent. As a rich guy, he's doing a good job at keeping that secret--unless you pay for his products. Kiyosaki uses each chapter of this book as a marketing point for his games and business solutions, which cost hundreds of dollars.
July 31, 2011
Gift from Sid. Like so many of his other books, there are kernels of truth amongst the crap. Without the knowledge of several dozen other finance books under my belt, it would be hard to tell the difference between the two.
This guy is always pushing the latest bubble. I find it ironic that he became a best selling author with his advice to buy real estate. Then the real estate bubble burst. I'm impressed with the hubris it takes to write a book here that offers gold and commodities as the solutions to people's latest worries. Commodities are at the top of a decade-long run-up. I'm curious to see where he says to invest in his next book. Sorry, books. Multiple. Maybe he'll come clean and admit that the best way to become rich is to write books that tell people how to become rich.
I did find the "invest for cash flow and not capital gains" advice good.
Unless you read financial books for fun like me, I'd pass on this one.
This guy is always pushing the latest bubble. I find it ironic that he became a best selling author with his advice to buy real estate. Then the real estate bubble burst. I'm impressed with the hubris it takes to write a book here that offers gold and commodities as the solutions to people's latest worries. Commodities are at the top of a decade-long run-up. I'm curious to see where he says to invest in his next book. Sorry, books. Multiple. Maybe he'll come clean and admit that the best way to become rich is to write books that tell people how to become rich.
I did find the "invest for cash flow and not capital gains" advice good.
Unless you read financial books for fun like me, I'd pass on this one.
February 10, 2021
This book is a real eye-opener and bring about a change in mindset. It was the first iconic financial book I've read and it's really mind-blowing. I wish I read it before attending university. I would have think twice or even more before opting for a career option and would have helped in not getting screwed up and lost in the darkest abyss of despair.
I feel glad to come across this book in my local library. The ideas that the author shared are excellent in reshaping people's minds and how they should think. There's one line in the book that says: 'the love of money is the root of all evil, for the same reason you say no. The evil of keeping the masses in ignorance about money is just a 'derivative' of the evil love of money.' Some more lines that act like a wake-up call: 'It's not silver, gold, or real-estate that makes you rich; it's what you know about silver, gold, or real-estate that makes you rich.'
March 29, 2017
This book gives a lot of new ideas to me about how to manage my finances. The concept of making my cash inflow larger instead of looking for capital gains, is definitely something which i was not looking at before reading this book. The second best thing mentioned in this book is about the diversification and focus of your portfolio which was very flawed in my thinking.
Now coming to the negative side of this book. There is too much of repetition of similar ideas in this book. There is a hardcore promotion of the other books and games of the rich dad business, which actually make the reading boring as there is repetition.
Now coming to the negative side of this book. There is too much of repetition of similar ideas in this book. There is a hardcore promotion of the other books and games of the rich dad business, which actually make the reading boring as there is repetition.
April 6, 2020
Could be much shorter and more up to the point. Still contains very useful ideas like 8 new rules of money, BI quadrant and integrities of the BI quadrant.
November 26, 2024
Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money, by Robert T. Kiyosaki, is a book explaining how the ultra-rich have set up a system to steal your money, the history of this system, and how to combat it legally by “printing” your own money.
I really enjoyed this book. It had excellent energy, whilst maintaining focus on the desired teaching lesson. It used narratives to boost the vivacity of the story line, while teaching good habits, and rules to follow. One thing I didn't like was that the author basically said that the rich steal money from the poor, and then said how to become like those rich people, and it felt very hypocritical. I would recommend this book for anybody interested in expanding their financial literacy, and who want a little extra education on the world of money. I give this book a 4 out of 5.
I really enjoyed this book. It had excellent energy, whilst maintaining focus on the desired teaching lesson. It used narratives to boost the vivacity of the story line, while teaching good habits, and rules to follow. One thing I didn't like was that the author basically said that the rich steal money from the poor, and then said how to become like those rich people, and it felt very hypocritical. I would recommend this book for anybody interested in expanding their financial literacy, and who want a little extra education on the world of money. I give this book a 4 out of 5.
April 10, 2022
"Rikaste vandenõu" on ameerikalik raamat. Ma tõesti ei kavatse kõiki Kiyosaki raamatuid läbi lugeda, aga oleks tore teada, kas suures plaanis ongi tal tegelikult mõned mõtted, mida siis erinevates raamatutes erineva rõhuga püütakse pikemaks venitada.
See teos on algselt osade kaupa avalikustatud. Seda on tunda, sest päris paljud mõtted kordusid ning ühed ja samad teemad jooksid pidevalt läbi.
Pikemalt kirjutan blogis: https://midaheliluges.blogspot.com/20...
See teos on algselt osade kaupa avalikustatud. Seda on tunda, sest päris paljud mõtted kordusid ning ühed ja samad teemad jooksid pidevalt läbi.
Pikemalt kirjutan blogis: https://midaheliluges.blogspot.com/20...
September 12, 2021
This book could've been 30-50 pages long, Robert just continued restating information over and over. This one sat on my shelf for nearly 7 years, glad I bought it used. His first 3 or 4 books and the advisor series are must reads but his new books seem like their just rehashing the first 3 books and trying to sell you the cash flow game. Time would've been better spent re reading the original series.
January 2, 2022
Ostale od njega so bolse. Po 3knjigah se samo se ponavlja.
January 29, 2015
I like Robert Kiyosaki's message in general, and I think he did a good job with this book in explaining how the economy works and why it is important to increase your financial education. He explains how people who understand how things work (e.g. taxes, investments, businesses) have an unfair advantage. It's true. What I most appreciate about his teachings is the distinction between an asset (something that puts money in your pocket) and liabilities (that which takes money out of your pocket). It's pretty simple, really, but a lot of people don't know what to do. He gives you lots of ideas, but you certainly shouldn't take his word for it; you should educate yourself further before you invest or start a business, etc.
I also like how he explains the use of debt and why the government wants you to borrow money. Unfortunately, most people borrow money to buy "doodads", things that just take money out of your pocket (e.g. boats, jewelry, electronics) and not assets (like investing in a money-making opportunity).
Even though he may be criticized for the simplicity of his language and his writing, I think it works to get his message across without any unnecessary academic language.
And finally, it is true that your banker doesn't care about your grades from school (your academic or professional education), but s/he does want to know your financial grade - your financial statement.
This book will not TELL YOU WHAT TO DO; it just explains how things work and will help you get the bigger picture. If you want a HOW-TO book, you will need to look elsewhere. Kiyosaki is a big fan of educating yourself. Don't look to him to tell you what to do or how to do it, specifically.
I also like how he explains the use of debt and why the government wants you to borrow money. Unfortunately, most people borrow money to buy "doodads", things that just take money out of your pocket (e.g. boats, jewelry, electronics) and not assets (like investing in a money-making opportunity).
Even though he may be criticized for the simplicity of his language and his writing, I think it works to get his message across without any unnecessary academic language.
And finally, it is true that your banker doesn't care about your grades from school (your academic or professional education), but s/he does want to know your financial grade - your financial statement.
This book will not TELL YOU WHAT TO DO; it just explains how things work and will help you get the bigger picture. If you want a HOW-TO book, you will need to look elsewhere. Kiyosaki is a big fan of educating yourself. Don't look to him to tell you what to do or how to do it, specifically.
April 14, 2024
The book is very interesting, easily, understandably written. It becomes clear that the dollar (as well as other currencies) not pegged to gold is worthless. Now it becomes obvious that bitcoin is a substitute for money and one currency for the whole world. What is missing is a very convenient way to exchange and pay with bitcoin.
"“I want to sail to Tahiti, drink beer at Quinn's Bar [an infamous Tahitian landmark], and meet beautiful Tahitian women,” I replied."
✓His dream was to meet at Tahiti Bar with prostitutes?))
-----------------
"
If you would like greater detail on the monetary system, here are two excellent books I recommend.
1. The Creature from Jekyll Island by G. Edward Griffin:
2.The Dollar Crisis by Richard Duncan
To simply say to a child, “Get a job, save money, buy a house, and invest for the long term in a well-diversified portfolio of stocks, bonds, and mutual funds” is a script right out of the central banker's operating manual. It is a success myth propagated by the super-rich.
Today, many people grumble, criticize, and complain about big banks, politicians, and the financial crisis. To me that is a waste of time. As G. Edward Griffin states in his book The Creature from Jekyll Island, “Bailout is the name of the game.” In other words, what you see today is the real game of the Federal Reserve System. The system was designed to allow big banks with political clout to make a lot of money, fail, and then be bailed out by the taxpayers. In the process the rich get richer and the poor get poorer. This Fed is not for you. It's for the rich and powerful.
Another word often misunderstood is diversify. If you listen to most financial pundits, they will always say that smart investors diversify. Yet, to quote Warren Buffett in The Tao of Warren Buffett, “Diversification is a protection against ignorance. It makes very little sense for those who know what they are doing.”
Russell also says this about people who invest in fairy tales: “Investing in the stock market is a long-term tax on people who want something [profits] without doing any real work for those imaginary profits.”
✓ one of the biggest Ponzi schemes of all: the stock market. In the stock market, investors only make money as long as stock prices rise—as long as new money is being pumped into the market. If money is pulled out of the market, stock prices fall and investors lose their money.
Own Your Own Corporation, written by attorney Garrett Sutton, a Rich Dad Advisor. This book will assist you on integrity #5, legal. The book Sales Dogs, written by Rich Dad Advisor Blair Singer, will assist you with integrity #7, communication
One reason is that the stock market is too risky. The average person has very little control over the market, and odds are a market crash will take most of their money eventually. And the second reason is that I would rather put that retirement money into my own pocket, not the pockets of those who control Wall Street.
The way you can print your own money is via a financial term known as return on investment, or ROI.
I also remind you to focus more on selling and less on buying.
If you would like to see a video with more information on using paper assets and options to create infinite returns and print your own money, visit www.richdad.com/conspiracy-of-the-rich. In one segment, my friend and advisor Andy Tanner will explain how to use options as a way of legally printing your own money.
Today, most money is paper money, an IOU from a government, also known as a fiat currency. Paper money is worthless in and of itself. It is simply a derivative of the value of something else. In the past, the dollar was a derivative of gold; now it is a derivative of debt, an IOU from taxpayers of a country.
Today, money is no longer a tangible object like chickens, gold, or silver. Today, modern money is simply an idea backed by the faith and trust of a government. The more trustworthy the country, the more valuable the money, and vice versa. This evolution of money from a tangible object into an idea is one reason why the subject of money is so confusing. It is difficult to understand something we can no longer see, touch, or feel.
1913: The Federal Reserve is formed. The Federal Reserve is not American, not federal, has no reserves, and is not a bank. It is controlled by some of the richest and politically influential families in the world. It has the power to create money out of thin air.
Institutions like the Federal Reserve have been staunchly opposed by designers of the Constitution, and by presidents such as George Washington and Thomas Jefferson.
Since most investors have little financial education, most people invest in paper assets.
The second step is to hedge your investments. Professional investors invest with insurance. Most of us would not drive a car or own a home without insurance. Yet most people invest without insurance. That is very risky.
For example, when I invest in the stock market, I can buy insurance, such as a put option. Let's say I purchase a stock for $10. I can also buy a put option for $1 to pay me $9 if the stock price falls. If the stock drops to $5, the put option acts as insurance and pays me $9 for a stock worth $5. That is just one of many ways that professional investors use different forms of insurance in the stock market.
For my real estate investments, I have insurance against losses to fire, floods, and other natural disasters. Another bonus of owning real estate is that the rent my tenants pay me covers the cost of the insurance. If my property burns down, I do not lose money, because I have insurance to cover my losses.
Taking all the risk of an investment, buying low and hoping to sell high, and then paying the highest percentage in tax is not financially intelligent.
In the stock market, I often sell a derivative of my stocks—for example, a call option—and make money out of nothing but a derivative of my stock and my mind.
Retirement: “Invest for the long term in a well-diversified portfolio of stocks, bonds, and mutual funds.” This bit of wisdom makes people on Wall Street very rich for the long term. Who would not want millions of E and S quadrant people sending them a check every month? I ask myself: Why would I want to give my money to Wall Street when I know I can legally “print” my own money by using my financial knowledge and intelligence?"
"“I want to sail to Tahiti, drink beer at Quinn's Bar [an infamous Tahitian landmark], and meet beautiful Tahitian women,” I replied."
✓His dream was to meet at Tahiti Bar with prostitutes?))
-----------------
"
If you would like greater detail on the monetary system, here are two excellent books I recommend.
1. The Creature from Jekyll Island by G. Edward Griffin:
2.The Dollar Crisis by Richard Duncan
To simply say to a child, “Get a job, save money, buy a house, and invest for the long term in a well-diversified portfolio of stocks, bonds, and mutual funds” is a script right out of the central banker's operating manual. It is a success myth propagated by the super-rich.
Today, many people grumble, criticize, and complain about big banks, politicians, and the financial crisis. To me that is a waste of time. As G. Edward Griffin states in his book The Creature from Jekyll Island, “Bailout is the name of the game.” In other words, what you see today is the real game of the Federal Reserve System. The system was designed to allow big banks with political clout to make a lot of money, fail, and then be bailed out by the taxpayers. In the process the rich get richer and the poor get poorer. This Fed is not for you. It's for the rich and powerful.
Another word often misunderstood is diversify. If you listen to most financial pundits, they will always say that smart investors diversify. Yet, to quote Warren Buffett in The Tao of Warren Buffett, “Diversification is a protection against ignorance. It makes very little sense for those who know what they are doing.”
Russell also says this about people who invest in fairy tales: “Investing in the stock market is a long-term tax on people who want something [profits] without doing any real work for those imaginary profits.”
✓ one of the biggest Ponzi schemes of all: the stock market. In the stock market, investors only make money as long as stock prices rise—as long as new money is being pumped into the market. If money is pulled out of the market, stock prices fall and investors lose their money.
Own Your Own Corporation, written by attorney Garrett Sutton, a Rich Dad Advisor. This book will assist you on integrity #5, legal. The book Sales Dogs, written by Rich Dad Advisor Blair Singer, will assist you with integrity #7, communication
One reason is that the stock market is too risky. The average person has very little control over the market, and odds are a market crash will take most of their money eventually. And the second reason is that I would rather put that retirement money into my own pocket, not the pockets of those who control Wall Street.
The way you can print your own money is via a financial term known as return on investment, or ROI.
I also remind you to focus more on selling and less on buying.
If you would like to see a video with more information on using paper assets and options to create infinite returns and print your own money, visit www.richdad.com/conspiracy-of-the-rich. In one segment, my friend and advisor Andy Tanner will explain how to use options as a way of legally printing your own money.
Today, most money is paper money, an IOU from a government, also known as a fiat currency. Paper money is worthless in and of itself. It is simply a derivative of the value of something else. In the past, the dollar was a derivative of gold; now it is a derivative of debt, an IOU from taxpayers of a country.
Today, money is no longer a tangible object like chickens, gold, or silver. Today, modern money is simply an idea backed by the faith and trust of a government. The more trustworthy the country, the more valuable the money, and vice versa. This evolution of money from a tangible object into an idea is one reason why the subject of money is so confusing. It is difficult to understand something we can no longer see, touch, or feel.
1913: The Federal Reserve is formed. The Federal Reserve is not American, not federal, has no reserves, and is not a bank. It is controlled by some of the richest and politically influential families in the world. It has the power to create money out of thin air.
Institutions like the Federal Reserve have been staunchly opposed by designers of the Constitution, and by presidents such as George Washington and Thomas Jefferson.
Since most investors have little financial education, most people invest in paper assets.
The second step is to hedge your investments. Professional investors invest with insurance. Most of us would not drive a car or own a home without insurance. Yet most people invest without insurance. That is very risky.
For example, when I invest in the stock market, I can buy insurance, such as a put option. Let's say I purchase a stock for $10. I can also buy a put option for $1 to pay me $9 if the stock price falls. If the stock drops to $5, the put option acts as insurance and pays me $9 for a stock worth $5. That is just one of many ways that professional investors use different forms of insurance in the stock market.
For my real estate investments, I have insurance against losses to fire, floods, and other natural disasters. Another bonus of owning real estate is that the rent my tenants pay me covers the cost of the insurance. If my property burns down, I do not lose money, because I have insurance to cover my losses.
Taking all the risk of an investment, buying low and hoping to sell high, and then paying the highest percentage in tax is not financially intelligent.
In the stock market, I often sell a derivative of my stocks—for example, a call option—and make money out of nothing but a derivative of my stock and my mind.
Retirement: “Invest for the long term in a well-diversified portfolio of stocks, bonds, and mutual funds.” This bit of wisdom makes people on Wall Street very rich for the long term. Who would not want millions of E and S quadrant people sending them a check every month? I ask myself: Why would I want to give my money to Wall Street when I know I can legally “print” my own money by using my financial knowledge and intelligence?"
June 13, 2011
Kiyosaki expounds on some of the rules of money. A lot of the book gives a history of money and how we got to where we are now. What most people are naive about are that our American dollar really has no value-that it is only as good as our governments word-which isn't too reliable really. The Conspiracy theory is basically that there have been a handful of greedy people 'in bed' with greedy politicians. How in the world was Nixon able to take the US Dollar off of the gold standard in the 70's and allow the Federal Reserve (which isn't Federal AND has no reserve) to have imminent control over the money supply. They are able to print billions of dollars while convincing people that it is for the good of our economy...afterall, it lowers interest rates. The main thing is that the Wealthy have different information on how money works. Many of them want to keep everyone blind to the truth so they can keep getting away with uncouthly behavior.
Kiyosaki attempts to explain in a short format the main rules about money. These are good, but still a little hard for someone whose never heard them to fully grasp. The Richest Man in Babylon is a good start to these concepts.
Kiyosaki attempts to explain in a short format the main rules about money. These are good, but still a little hard for someone whose never heard them to fully grasp. The Richest Man in Babylon is a good start to these concepts.
October 17, 2012
I have read his other books. This book is pretty much similiar to them. Talks mostly on the same points. Not too much different. So if you already read his prior books I am not sure if it is worth it to buy this book that in the end will certainly make Kiyosaki more money. I always found it interesting too that he never had kids of his own. I know in my own life my kids are the real drain on my pocket book and if I didn't have them I would have so, so much more time to invest in other projects in my life. Without kids you miss so much in life, I think. Did he miss the point of life then in order to make his money????? But anyhow there are a couple points about the real value of money that he says in this book. About the U.S. money no longer backed by gold that can cause a person to stop and think, but that is about the only point different in this book than his other books he wrote. His basic way of thinking is generally a good thing though. But it just seems like he keeps rehashing the same good thoughts over and over again just to make more money off of it.
October 4, 2022
Macam mana sistem kewangan dunia berfungsi? Kenapa yang kaya makin kaya? Penyebab krisis kewangan berlaku? Apa itu fractional system?
Semuanya ada dalam buku ni.
Buku ni akan membawa kita meneroka dari tahun 1913 hingga sekarang untuk merungkai 'konspirasi' tentang orang kaya & sistem kewangan dunia.
Semuanya ada dalam buku ni.
Buku ni akan membawa kita meneroka dari tahun 1913 hingga sekarang untuk merungkai 'konspirasi' tentang orang kaya & sistem kewangan dunia.
August 24, 2020
Constantemente somos colocados com questões financeiras, como a forma como gerimos ou enfrentamos as oscilações económicas que vivemos. Robert Kiyosaki, leva-nos ao profundo do nosso conhecimento sobre a área financeira e fornece-nos opções e ferramentas para trabalharmos essas mesmas debilidades, no fundo o conhecimento fundamentado sobre a educação financeira, baseada em lógicas práticas, explicando também o que levou as fragilidades económicas da actualidade.
July 1, 2017
Love this book
December 9, 2020
I get more out of a 10 year old book written by an outsider then I do reading the wsj or any current "guru". Repetitive yes but the obvious so obvious that it isn't obvious.
What my 👂 heard ⤵️
whenever they're self-interest, there is a conspiracy
every time an educator brings a banker or a financial planner into their classroom, supposedly in the name of financial education, they are actually allowing the fox to enter the hen house
their job is not to educate but to recruit future customers that is why they preach the doctrine of saving her money and investing in mutual funds.
one of the causes of this financial crisis is that most people do not know good financial advice from bad financial advice
people who spend their money wisely will always be more prosperous than those who save their money wisely
I invest almost exclusively for cash flow
if people do not learn about money, then they end up exchanging their freedom for a paycheck – for a steady job and enough money to pay their bills some people spend their lives in constant fear of being fired. That is why, for millions of well-educated workers, job security is more important than financial freedom
financial education is essential to financial intelligence, financial intelligence is not so much about how much money you make, but how much money you keep, how hard your money works for you, and how many generations you pass your money onto in the information age, financial education is essential to financial security
to me, it is a crime that an America are real estate taxes determine the quality of education a child receives. in other words, schools in poor neighborhoods receive less tax money than schools and Rich neighborhoods. talk about a conspiracy of the rich!
the night before every wally go up to the outdoor balcony of Total sit alone, and allow the wind to separate my thoughts from my fears.
for my poor dad security was more important then wealth
the 1929 crash was triggered by stocks being bought on margin. the 2007 crash was set off by real estate on margin
the economy is still collapsing like a hot air balloon with a tear in it
fractional reservre banking
you don't need a mask to rob a bank you just need to own one
one dad saw the depression as an opportunity and the other saw it as a crisis
when I hear, it takes money to make money. I reply no, money begins with words, and words are free
when someone says, investing is risky, I reply, investing is not risky. lack of financial education and listening to poor financial advisors risky.
never comfuse capital gains with cash flow
invest for cash flow, and you'll never worry about money. Invest for cash flow, and you will not be wiped out in boom and bust markets invest for cash flow, and you'll be a rich man finding investments that create cash flow is hard
Monopoly is not a game about flipping. Monopoly is not a game about buying low and selling high period it is not about diversification. Monopoly is about focus, planning patience, and long-term control the first objective is to control one of the four sides of the board game the second objective is to improve the properties on the side you control, adding green houses and eventually a red hotel the ultimate investment strategy is to have only red hotels on your side of the board . then you sit and wait as other players around the corner hoping not to land on one of your properties final objective is to bankrupt the other players and take all their money
i love debt as long as someone else will pay for that debt
if your heart is in your dream then no request is too exrreme
the more security you seek, the less freedom you have
I have a PhD a public high school degree
one big reason why so many people struggle financially is because they have little to sell, don't know how to sell, or both. so if you are struggling financially, find something to sell learn to sell better or both
if you sell more than you buy, you will not have to live below your means, cling to job security or go to small balls with the rest of the mice
hear this balance
i felt terrible off purpose and lifeless
your financial statement is your report card once you leave school
the reason most people turn their money over to financial planners is because they hope the financial planner will not make mistakes which ironically is a mistake
for many people life is a struggle due to a lack of financial education
your banker never asks to see your report card a banker does not care what your grades were a banker wants to see your financial statement period your financial statement is your report card once you leave school
assets put money in your pocket without you working, and liabilities take money from your pocket, even when you're working
when people get a pay raise, they buy a bigger house and nicer cars, hoping to look rich but really becoming poorer, more deeply in debt.
the way to find a good partner is to know a bad partner
without a solid financial education you remain a prisoner of the e and s quadrants
in my opinion living below your means kills your spirit
that sounds like a you problem to me
What my 👂 heard ⤵️
whenever they're self-interest, there is a conspiracy
every time an educator brings a banker or a financial planner into their classroom, supposedly in the name of financial education, they are actually allowing the fox to enter the hen house
their job is not to educate but to recruit future customers that is why they preach the doctrine of saving her money and investing in mutual funds.
one of the causes of this financial crisis is that most people do not know good financial advice from bad financial advice
people who spend their money wisely will always be more prosperous than those who save their money wisely
I invest almost exclusively for cash flow
if people do not learn about money, then they end up exchanging their freedom for a paycheck – for a steady job and enough money to pay their bills some people spend their lives in constant fear of being fired. That is why, for millions of well-educated workers, job security is more important than financial freedom
financial education is essential to financial intelligence, financial intelligence is not so much about how much money you make, but how much money you keep, how hard your money works for you, and how many generations you pass your money onto in the information age, financial education is essential to financial security
to me, it is a crime that an America are real estate taxes determine the quality of education a child receives. in other words, schools in poor neighborhoods receive less tax money than schools and Rich neighborhoods. talk about a conspiracy of the rich!
the night before every wally go up to the outdoor balcony of Total sit alone, and allow the wind to separate my thoughts from my fears.
for my poor dad security was more important then wealth
the 1929 crash was triggered by stocks being bought on margin. the 2007 crash was set off by real estate on margin
the economy is still collapsing like a hot air balloon with a tear in it
fractional reservre banking
you don't need a mask to rob a bank you just need to own one
one dad saw the depression as an opportunity and the other saw it as a crisis
when I hear, it takes money to make money. I reply no, money begins with words, and words are free
when someone says, investing is risky, I reply, investing is not risky. lack of financial education and listening to poor financial advisors risky.
never comfuse capital gains with cash flow
invest for cash flow, and you'll never worry about money. Invest for cash flow, and you will not be wiped out in boom and bust markets invest for cash flow, and you'll be a rich man finding investments that create cash flow is hard
Monopoly is not a game about flipping. Monopoly is not a game about buying low and selling high period it is not about diversification. Monopoly is about focus, planning patience, and long-term control the first objective is to control one of the four sides of the board game the second objective is to improve the properties on the side you control, adding green houses and eventually a red hotel the ultimate investment strategy is to have only red hotels on your side of the board . then you sit and wait as other players around the corner hoping not to land on one of your properties final objective is to bankrupt the other players and take all their money
i love debt as long as someone else will pay for that debt
if your heart is in your dream then no request is too exrreme
the more security you seek, the less freedom you have
I have a PhD a public high school degree
one big reason why so many people struggle financially is because they have little to sell, don't know how to sell, or both. so if you are struggling financially, find something to sell learn to sell better or both
if you sell more than you buy, you will not have to live below your means, cling to job security or go to small balls with the rest of the mice
hear this balance
i felt terrible off purpose and lifeless
your financial statement is your report card once you leave school
the reason most people turn their money over to financial planners is because they hope the financial planner will not make mistakes which ironically is a mistake
for many people life is a struggle due to a lack of financial education
your banker never asks to see your report card a banker does not care what your grades were a banker wants to see your financial statement period your financial statement is your report card once you leave school
assets put money in your pocket without you working, and liabilities take money from your pocket, even when you're working
when people get a pay raise, they buy a bigger house and nicer cars, hoping to look rich but really becoming poorer, more deeply in debt.
the way to find a good partner is to know a bad partner
without a solid financial education you remain a prisoner of the e and s quadrants
in my opinion living below your means kills your spirit
that sounds like a you problem to me
September 22, 2019
This is the fourth book I read for Robert Kiyosaki. His books are highly recommended for beginners, including me, who want to become rich! However, I expected a lot from this book. His writing skills are not that good. He admitted that at least! But the previous three books were VERY life changing. The summary of this book is the following:
We need to know the four financial forces that keep people poor. They are:
1 Taxes.
2 Debt.
3 Inflation.
4 Retirement. Kiyosaki believes that “the concept of a secure retirement is a dying reality.”
“[These financial forces] form the foundation for the new rules of money.” That is why you need to know the relationship between them. With financial education, you can use them to your advantage by focusing on the asset column rather than the income column.
There are three parts to a great deal. They are:
1 Partners. “When you invest your money you are becoming a partner in that investment enterprise.”
2 Financing
3 Management
The evolutionary stages of money are:
1 Barter
2 Commodities
3 Receipt money
4 Fractional reserve receipt money
5 Fiat money
When money was commodity money, men used to trick others by shaving and debasing coins. Today shaving and debasing continue, just not in physical form. They are:
1 Fractional reserve banking – reserve limit
2 Deposit insurance
There are three basic types of taxable income in the United States:
1 Earned income: income derived from labor. Taxed highest of all income.
2 Portfolio income: income from capital gains. It is the second-highest taxed income.
3 Passive income: income from cash flow. It is the lowest taxed income.
There are three important types of education:
1 Academic education: the ability to read, write and do math.
2 Professional education: Learning to work for money.
3 Financial education: Learning how to make money work for you.
THE EIGHT NEW RULES OF MONEY
1 Money is knowledge.
2 Learn how to use debt. There is good debt, which puts money in your pocket, and bad debt, which takes money out of your pocket.
3 Learn to control cash flow. Control your personal cash flow and monitor the world’s cash flow by observing:
1 Jobs.
2 People. Invest in markets where people are moving to, not from.
3 Cash. “Real estate is not worth much if there are no jobs, because jobs attract people, and where people are flowing, cash is flowing.”
4 Prepare for bad times and you will only know good times. We need to know the types of bad times. There are two types of depressions:
1 Depressions caused by deflation – U.S.-style depressions
2 Depressions caused by inflation – German-style depressions
How to prepare to each: you would be safe during a U.S.-style depression if you hang on to cash in savings, but you would be wiped out if you do so during a German-style depression. During such one, you need gold, silver, investments, not cash.
What we are facing now is a German hyperinflationary depression rather than a U.S. deflationary depression because of:
1 The Warburg effect
2 Printing our way out of debt
3 Fool’s gold
4 A world of wheelborrow money
5 The need for speed. “The faster a person can transact business, the more money he or she will make.” Make money faster the the banks are printing it.
6 Learn the language of money
Capital gains and cash flow. Use cash flow, instead of net worth, to measure your wealth. Net worth is the “perceived notion of value that may or may not be true.”
The 90-10 rule of money is based on the Pareto principle, the rule of the vital few (the 80-20 rule), which says “that 80 percent of the land in Italy was owned by 20 percent of the people.” The 90-10 rule states that “90 percent of all money is earned by 10 percent of the people.
“The name of the game is cash flow – to be in the 10 percent who collect the cash flow from the other 90 percent.”
Short- and long-term investments. “There is two games going on. One game is for the long-term investors in stocks, bonds, and mutual funds (the tuna), and the other game is for short-term investors like hedge fund managers and professional traders (the sharks).”
Kiyosaki is not “against the concept of mutual funds. [He is] against the high fees and hidden expenses of mutual funds that rob investors of their money.”
When you are being advised to invest for the long term, you should question the definition of long term. Think about exit strategy instead of long term. “It is not about how long you hold on to an investment. It is about how you plan to increase your wealth with that investment over a stated period of time.”
Do not diversify. When people diversify, they actually do not. You need to know the four basic investment categories and diversify between them. They are: businesses, income-producing real estate, paper assets and commodities.
Derivatives. Warren Buffett referred to them as “financial weapons of mass destruction.” However, according to Kiyosaki, he forgot to say that they are also "tools of mass financial creation.” Kiyosaki believes that “the real weapon of mass financial destruction is the U.S. dollar."
Derivatives are one reason of the financial crisis we have today. Bankers began creating derivatives out of derivatives out of derivatives. Warren Buffett called derivatives “weapons of mass financial destruction.”
Be aware of the “financial fairy tales”:
1 Live below your means
2 Go to school so you can get a secure job
3 Social security and the stock market. They are legalized Ponzi schemes, which are based on capital gains.
In order to be on the right side of the Cashflow Quadrant (B, I), you need to understand the eight integrities of the B-I Triangle. All eight integrities are important to obtain financial integrity. They are:
Integrity 1 Mission.
Integrity 2 Team.
Integrity 3 Leadership.
Integrity 4 Product.
Integrity 5 Legal.
Integrity 6 Systems.
Integrity 7 Communications.
Integrity 8 Cash flow.
You need to focus on the entire B-I triangle before starting a business, real estate, investing… etc.
7 Life is a team sport. Choose your team carefully.
8 Since money is becoming worth-less and less, learn to print your own money.
You can print your own money via ROI. Kiyosaki considers a ROI of 5 to 12 percent is nothing. He wants infinite ROI. He provides examples of printing money through businesses, real estate, paper assets and commodities.
IF KIYOSAKI RAN THE SCHOOL SYSTEM
He would create a financial education program that included the following 15 financial lessons:
1 The history of money.
2 Understanding your financial statements.
3 The difference between an asset and a liability.
4 The difference between capital gains and cash flow. Cash flow in called dividend yields in the stock market.
5 The difference between fundamental and technical investing. Fundamental investing is the process of analyzing a company’s financial performance, while technical investing is measuring emotions and moods of the markets by using technical indicators, like charts.
6 Measuring an asset’s strength. Focus on the entire B-I triangle, the only the product.
7 Know how to choose good people.
8 Know what asset is best for you. There are four basic types of assets: businesses, real estate, paper assets and commodities.
9 Know when to focus and when to diversify. “True diversification includes investing in all four asset classes, not just different types assets within one asset class.” And when you diversify, do not lose your focus. Focus on only great investments in each asset class.
10 Minimize risk. You can do that by education, hedging your investments by investing with insurance.
11 Know how to minimize taxes.
12 The difference between debt and credibility. Good debt puts money in your pocket. Bad debt takes money from your pocket. Credibility is “knowing how to borrow money wisely, and getting someone else, such as your tenants or your business, to pay the money back.”
13 Know how to use derivatives
14 Know how your wealth is stolen. Focus on assets.
15 Know how to make mistakes.
July 2, 2019
This book genuinely could have been about one-fifth of it's length and still convey the pertinent information.
The same talking points (the fractional-reserve banking system, the gold standard, etc.) are repeated ad-nauseam throughout, with little treatment as to why these are a problem or how they interact with other points introduced.
The "reader comments" peppered throughout the text are downright obnoxious and have no place in a printed book. If I wanted vacuous comments from internet strangers, I would read the YouTube comment section.
Kiyosaki certainly flexes his sales chops through the book too, constantly plugging his games, seminars and associates books. I can't really fault him for that, but repeating the same pitch multiple times is just tiresome.
The last few chapters are the area that has the most tangible advice for action and does contain some good tips.
I think this entire book could have been condensed down into a lengthy blog post (with a comment section) and it would have been better presented. Though, I suppose you can't sell a blog post, now can you?
The same talking points (the fractional-reserve banking system, the gold standard, etc.) are repeated ad-nauseam throughout, with little treatment as to why these are a problem or how they interact with other points introduced.
The "reader comments" peppered throughout the text are downright obnoxious and have no place in a printed book. If I wanted vacuous comments from internet strangers, I would read the YouTube comment section.
Kiyosaki certainly flexes his sales chops through the book too, constantly plugging his games, seminars and associates books. I can't really fault him for that, but repeating the same pitch multiple times is just tiresome.
The last few chapters are the area that has the most tangible advice for action and does contain some good tips.
I think this entire book could have been condensed down into a lengthy blog post (with a comment section) and it would have been better presented. Though, I suppose you can't sell a blog post, now can you?
July 13, 2019
Robert Kiyosaki has put together perhaps the best in this series. The information in this book with be inspirational to anyone, but in my opinion it will be the most powerful to those who are already following the path of investing in assets. You cannot be sitting on the sidelines or sitting comfortably in the bleachers when you take up this one. You must be on the field in the middle of the fray in order to fully appreciate the importance of the material.
I just finished remodeling a house, and turning the corner on it becoming a cash-flow property for me, adding another asset to my asset column. When I took up this book, it was just what I needed to look towards the future. I am awake with a renewed energy, much like I felt when I read the first Rich Dad book, but this one revealed the entire rules of the game.
As a Realtor, I lived a day to day life of the real estate market crash at the time this book was written, and I can tell you with certainty that this book is still important today, if not more so. The bright future you desire is obtainable if you real understand and apply this material.
I just finished remodeling a house, and turning the corner on it becoming a cash-flow property for me, adding another asset to my asset column. When I took up this book, it was just what I needed to look towards the future. I am awake with a renewed energy, much like I felt when I read the first Rich Dad book, but this one revealed the entire rules of the game.
As a Realtor, I lived a day to day life of the real estate market crash at the time this book was written, and I can tell you with certainty that this book is still important today, if not more so. The bright future you desire is obtainable if you real understand and apply this material.
March 28, 2024
This is the sequel of Rich Dad Poor Dada -one of the bad book, a motivational book that mislead many people in my generation. I read about in year 2000s during my college years. Now the book is debunked. I read in the news paper in 2024, I thought this is a new book written in 2020s something, so I think it is a redemption because I think it is somewhere in 2010s he is bankrupt. However, I got surprise that this book is written in 2009 in the recession, where his prediction about tax, debt, inflation and pension still got wrong. Two times predicting, first employee/investor quadrant, and now tax, debt, inflation, pension prediction and still wrong. Inaccurately describe the economy, and inability to practice this in his life.
This is like listening to health guru, the message (the word) is always partially right (drink a lot of water to be healthy), but it does not describe everything (that you also need sleep, exercise), however the action that people expecting is uncorrelated (expecting that drink water make you rich).
The solution of this situation is 1) read more book. 2) work harder.
This is like listening to health guru, the message (the word) is always partially right (drink a lot of water to be healthy), but it does not describe everything (that you also need sleep, exercise), however the action that people expecting is uncorrelated (expecting that drink water make you rich).
The solution of this situation is 1) read more book. 2) work harder.
July 5, 2017
Eye Opening
I just finished Conspiracy of the Rich, Cashflow Quadrant, and Rich Dad Poor Dad.
I'd recommend reading these three, in that order.
Conspiracy of the Rich is eye opening. I especially enjoyed the historical summary starting in 1903 through the crash of 2008. Its almost like reading the plot of a James Bond movie, but played out over decades.
His predictions on the collapse of the middle class are scary. I've seen shanty towns in other parts of the world. It's hard to see people surviving in places like that, and hard to imagine this possibility here in America.
We have choices and tough decisions to make in this country. It's not a political issue. Kiyosaki clearly lays out the decisions made by political leaders from both political parties over the past 100 years that have not served the majority of Americans. By understanding these forces and how the real-life game is played you can make decisions to positively change the course of your life and your family for generations to come.
I just finished Conspiracy of the Rich, Cashflow Quadrant, and Rich Dad Poor Dad.
I'd recommend reading these three, in that order.
Conspiracy of the Rich is eye opening. I especially enjoyed the historical summary starting in 1903 through the crash of 2008. Its almost like reading the plot of a James Bond movie, but played out over decades.
His predictions on the collapse of the middle class are scary. I've seen shanty towns in other parts of the world. It's hard to see people surviving in places like that, and hard to imagine this possibility here in America.
We have choices and tough decisions to make in this country. It's not a political issue. Kiyosaki clearly lays out the decisions made by political leaders from both political parties over the past 100 years that have not served the majority of Americans. By understanding these forces and how the real-life game is played you can make decisions to positively change the course of your life and your family for generations to come.
August 16, 2018
I really enjoy in most of his books the easy, encouraging style of Robert Kiyosaki. But this one is misleading a bit, at least the academic part of it. He is pushing down disproportionately the bank system and is glorifying too much the gold standard money, both are incorrect in my opinion. I wanted to understand a little bit more the concept of money and economy in general. In my opinion the author is a streetsmart who is speaking about academical things in this book misleadingly. The industrial revolution wasn't thanks to just coal, iron and inventions, it was thanks to a fiscal revolution as well. The gold standard money would slowing down the economy and would mean less possibilities to break out from poverty for those who were born poor. If I want to understand better the economy it is better if I put down my ass and read the 700 page -not so easy reading- book from Thomas Piketty: The Capital and I recommend to do this to anybody who want to know more truth things about the economy.
November 4, 2018
Another great book by Kiyosaki who explains in simple language what are MBS, CDO, and CDS that led to the 2008-2009 Mortgage Melt Down; The Book inspired me to finish the book: The Big Short - another great book that explains how the American Tax Payer bailed out the Greedy Boys on Wall Street, who created Bonds, MBS, & CDO's of subprime loans, with teaser rates that blew up after the interest-only loans reset, and Borrowers were unable to afford their PITI payments. The 2008-2009 Meltdown was truly a Conspiracy of the Rich; Those who do not learn from history, are doomed to repeat it. Anyone who is not an accredited investor, earning at least $200,000 for the last 2 years or worth at least $1M excluding their personal residence is not qualified to offer a poor review of this book. I always learn something of value from RICH People who have a net worth that exceeds $50 million. I've read/listened to this book multiple times, and I always pick up nuggets of wisdom that I missed from the last reading.
November 13, 2019
Lots of good lessons learned about investing,
especially in Real Estate, which is what he favors
and how he made his money.
Even though I liked lots of his lessons
I question some of his conclusions.
Especially his answer when asked about
Whole Life Insurance Policies.
And many thoughts were strung together,
as if they made logical sense and justification
for events, though I had trouble seeing the logic.
Like saying Nixon taking us off the Gold standard in 1971
introduced instability into the market.
The 1928 Stock Market crash was before we went off the Gold Standard.
Multiple times in the book he says to go to this link for more information:
RichDad.com/ConspiracyOfTheRich.
But each time I tried going there my browser warns me
that the Website Security Certificate is expired.
So I never went to the site.
If anyone has ever played one of Robert Kiyosaki's
Cash Flow Quadrant games, I'd be very interested in your comments.
especially in Real Estate, which is what he favors
and how he made his money.
Even though I liked lots of his lessons
I question some of his conclusions.
Especially his answer when asked about
Whole Life Insurance Policies.
And many thoughts were strung together,
as if they made logical sense and justification
for events, though I had trouble seeing the logic.
Like saying Nixon taking us off the Gold standard in 1971
introduced instability into the market.
The 1928 Stock Market crash was before we went off the Gold Standard.
Multiple times in the book he says to go to this link for more information:
RichDad.com/ConspiracyOfTheRich.
But each time I tried going there my browser warns me
that the Website Security Certificate is expired.
So I never went to the site.
If anyone has ever played one of Robert Kiyosaki's
Cash Flow Quadrant games, I'd be very interested in your comments.
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