Rich
Dad's Guide to Investing: What the Rich Invest in, That
the Poor and the Middle Class Do Not! by Robert
T. Kiyosaki, Sharon L. Lechter (Contributor)
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- Paperback: 405 pages ;
Dimensions (in inches): 1.15 x 9.07 x 6.07
- Publisher: Warner Books; ;
(June 2000)
- ISBN: 0446677469
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Book
Description
"The
rich get richer. The poor get poorer.
We've all heard that complaint many
times before. But finally, that long-standing monetary tradition
has been shattered, as Kiyosaki explains how even the smallest
investor can start benefiting from the investing patterns of the
richest folks.
Robert Kiyosaki knows all this first
hand. There was a time in the 1980's when he and his wife, Kim,
were so cash poor that they were forced to sleep in their car.
Today, however, the Kiyosakis are multi-millionaires, and are
considered highly sophisticated investors.
Based upon the four tenets of RICH
DAD, POOR DAD (are you an employee, self-employed, business
owner, or an investor?) the INVESTING GUIDE explains the
nuts-and-bolts approach to understanding the real earning power
of money, and how you can start cashing today.
Along the way, Kiyosaki explains how
he's invested his monies as his own wealth has grown over the
years."
The rich are
different from the rest of us, if for no other reason than U.S.
tax and securities laws allow them to invest in ways that keep
us from catching up to them.
That's why 90
percent of all corporate shares of stock 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
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