I have recently read a book titled “Rich Dad, Poor Dad” by Robert T. Kiyosaki with Sharon L Lechter, C.P.A.. This book had many informative and detailed ideas as to how to learn to make money, or better yet, how to make money work for you. This book basically goes back to when Mr. Kiyosaki was 9 years old and wants to make money, and he learns his first lesson of many on the road to becoming wealthy.
Through the years, he learns many different aspects of running and operating a business, as well as how to make money work for you to make you even more money. He gives very easy to understand run downs of the lessons he has learned in his life and includes many diagrams to help describe each. Most of these lessons he learned at a young age, and his “rich dad” drew pictures to help him understand.
I have just purchased my first house, and thinking this is great to be a homeowner, this book has a different view. It says that a house is a liability, not an asset, because it requires a payment every month. When there is no money owed, it becomes an asset. If it were to be a rental property, that would be even better because you will receive a monthly payment, with the money to go nowhere but your pocket.
The ideas in this book are so basic, that anyone could follow and repeat it themselves. I have already began to reexamine my financial plans, and to adjust them to include new investments that will make me money in the near future. Once i can reclaim my investment, then i will have “free money” working to make me more money, and it has technically cost me nothing.
I know alot of you are thinking, I have been doing this for years, and some of you are thinking about going to buy this book. I can honestly say it has changed my outlook on money, investments, and “the rich”. Wealth can be obtained much easier than I ever imagined and now I can see my family out of the “rat race”.
This book covers things from Real estate transactions and investments into stocks, bonds or mutual funds. It also has different levels of wealth and how to acquire them. Some people will want to never risk their money or so much of it to hurt them, so they invest poorly into areas that will keep their money and earn them little interest, but the risk of loss is not large. Others who are willing to risk have a much higher reward ratio, however their risk is larger.
I would recommend this book to recent high school graduates, young families, and small business owners, because there is so much to learn for each group. Always remember when you want to be wealthy, you must pay yourself first and everyone else thereafter. Read this book to find out why and how. It is truly an amazing and inspiring story.