|
Guide to
Investing
Become the ultimate investor. End those fears that
keep you up at night regarding the financial choices you make.
By reading Rich Dad’s basic rules of investing, you can reduce
your investment risk and convert your earned income into passive and portfolio
income. That means you keep more of your income … not the government.
Rich Dad’s Guide to Investing is just that – a guide. It
offers no guarantees, just as Robert Kiyosaki’s rich dad offered him no
guarantees … only guidance. But if you’re interested in the inside
look at an entrepreneur’s financial plan to be rich, this is the book for
you.
Author: Robert Kiyosaki & Sharon Lechter
ISBN:
0-446-67746-9
Buy Guide to Investing
Amazon.co.uk
Review
The rich are different from the rest of us. That's why 90
percent of all corporate shares are owned by 10 percent of the people. Kiyosaki
believes it's possible for anyone to move up into that 10 percent, but it takes
a different view of investing than most people have: it takes a plan to be a
successful investor. And a plan is more than simply buying and selling, or
collecting "assets" that bring in no cash and are thus more akin to
liabilities. The way most people invest, "they might as well be pushing a
wheelbarrow in a circle," he writes. A plan is "mechanical, automatic, and
boring," a formula for success that has worked historically for most of those
who've used it. Kiyosaki's "rich dad" (actually, the father of his best friend)
tells him the simplest analogy is the game Monopoly: buy four green houses,
trade them for one red hotel, and repeat until you become rich.
The
overall message of Rich Dad's Guide to Investing is that this is an abundant
world, full of opportunity for the sophisticated investor. However, it
sometimes takes a while to find this point. Much of the book is told in
dialogues between young Kiyosaki and his rich dad, and these conversations can
ramble. There are rewards for the careful reader--for example, in the middle of
a section on the basic rules of investing, Kiyosaki's rich dad compares
investor education to toilet training: difficult at first but eventually
automatic. But getting to these inspired metaphors means wading through a lot
of repetitive dialogue. It's a bit ironic that someone who advocates investor
discipline should show so little as a writer. But by the end of the book, even
the rambling starts to make sense. By the hundredth time you read that the rich
don't work for money and that you don't need money to make money, both concepts
start to make sense. It still looks difficult to apply these ideas, but Rich
Dad's Guide to Investing certainly makes the case that they'll work for anyone
bold and smart enough to practice them. --Lou Schuler, Amazon.com
USA Today
'RICH DAD, POOR DAD is a starting point for anyone
looking to gain control of their financial future'
If You Liked Rich
Dad, Poor Dad, This Book Helps Apply It, May 13, 2004
Reviewer: Donald
Mitchell from a happy Patriots fan in Boston
I recommend that you read
both "Rich Dad, Poor Dad" and "Cash Flow Quadrant" before reading Guide to
Investing. That will ensure that you understand Mr. Kiyosaki's key concepts and
are emotionally committed to them. You'll need that grounding to begin to apply
them well! As in Rich Dad, Poor Dad, this book has the delightful story line of
advice from the father of a friend who became a very wealthy man before his
death -- leaving his family well set financially for 100 years! I think it's
that base in reality that makes these books so interesting.
One of the
best ways to learn is to have a successful mentor who will guide us through the
key challenges of getting started. This book is designed to duplicate the
experiences that the author had his his rich Dad. For example, the key
questions that rich Dad asked him are at the end of each section for you to
answer for yourself. I found my answers to be revealing, even though I have
been through a lot of similar sets of questions. Well done! The story line
picks up after the author is coming out of the Marines in his twenties to find
his boyhood friend already wealthy from his own efforts.
The financial
advice parts of Guide to Investing are tied into helping you pick up a
meaningful financial plan. You begin by deciding what you want money to do for
you. That's an excellent thing to do. Some want security. Some want more
income. Others want substantial wealth that keeps growing. You should decide.
Some books make the mistake of pushing you to choose a goal that really isn't
what you want. Rather than push you in a particular direction, the book
emphasizes key principles (compound cash tax-free, create assets with your mind
as well as with your money). The author notes that each of us has preferences
that will take us in different directions for implementing whatever our goals
are. I liked that approach a lot.
You will recognize a lot of the
diagrams from Rich Dad, Poor Dad. But it is good advice, so it doesn't hurt to
have the repetition. This part is fairly compact, so you can skim through it if
you feel confident about the material. This book would be outstanding as a gift
for someone who is about to graduate from school and starting a first job, or
for newly wedded people. It would be even more valuable if you would be a
mentor for the person you give it to, like one of your children or
grandchildren.
If you get to be good at this now, think how great it
would be to be the rich Dad for your children and their friends. Now that's an
irresistibly great goal! Enjoy the riches you would like to have, for the
reasons you would like to have them! Remember, the sooner you finish these
tasks, the sooner you can turn your attention to the other aspects of your life
you want to improve. May your life be filled with much health, happiness, peace
. . . and prosperity.
This book is an investment in itself., June 6,
2001
Reviewer: Nikos Iatrou from London, UK
Kiyosaki is no
writer. His style is repetitive, simple and to the point. Which is why i
recommend Guide to Investing. For the creation of wealth often requires exactly
this kind of approach. If spiritually enlightening messages are what you're
seeking, try Dostoyevskiy's Karamazov Brothers. If you're interested in
becoming wealthy - not secure, or financially independent, but RICH (he has a
chapter on becoming a billionaire) - then Rich Dad's Guide To Investing makes
for a thoroughly refreshing read. The author uses a wide selection of diagrams
and stories to highlght his points, which I found useful in most cases. He also
offers some simple yet invaluable guidelines on building a business and
becoming an investor in the true sense of the word. However, the one thing
missing is a 'reality check', since Kiyosaki, in my view, should have devoted
more time on encouraging people to develop specific core competencies,
strengths that individuals can "bring to the table", rather than solely
emphasising the importance of finanical literacy (hence 4 stars).
The conclusion of an amazing three part series, February 8, 2001
Reviewer: Liam Palmer from Ipswich, England
Guide to Investing is
the end of the Rich Dad series and it would be a big mistake to try to read it
without having first read Rich Dad Poor Dada and Cashflow Quadrant - you just
wouldn't understand the big picture. This one gets into the fine detail a bit
but has some great methods for thinking about businesses and investing and I
learnt a lot from it (and I've got an MBA!). Probably of most use for those who
have spent a few years working through the first two books but well worth a
read (and constant re-read)!
Buy Guide to
Investing
|
