This work will reveal why some people work less, earn more, pay less in taxes, and feel more financially secure than others.
The author could have reduced the number of pages by (a) 25% by dedicating this book to his wife and stating that they were poor with no assets and living out of a vehicle and off friends' graces before becoming financially free several years later. (b) another 25% by eliminating the repetition. (c) another 25% by eliminating the repetitive diagrams especially the EBSI one. (d) did I mention the repetition?
Interestingly, while the book deals with their success in general terms, it does not say HOW they did it. Indeed, the author and his wife did not appear in their own cash flow quadrant since there is no place for U [my creation] meaning the Unemployed.
So the question remained, How did they go from U and destitute to B and I in the CFQ? The answer is real estate we are told. Ok, but how does one without a job or collateral secure funds to pay the required 10% deposit. We are carefully told NOT to break the law. Real estate is key but WHERE to buy seems to be a problem. The author was magically ably to buy huge portions of land cheaply and sell with massive profits. We learn that the author learned three invaluable methods of negotiation previously unknown to him but are carefully not told what these methods were.
We are told that a true B or business owner can leave his business for a year and return to find it still functioning and more profitable than when he left it.Read more ›
I thought Rich Dad could have used tighter editing, and if it had, it would have been a much shorter book. CQ is exactly the same way, meaning that if both were edited down to avoid repetition, they could be combined into a single, highly-informative book of about the same price.
Am I exaggerating? Perhaps, but consider that this is my impression based on the ABRIDGED audio version.
But I digress. The real question is how informational this book is. To be sure, there is a good bit of information here, but I felt a little disappointed by the end. Kiyosaki spends most of the book stating why we should change but only a very brief conclusion tells us how to begin the process.
I still have more questions than answers, and I'm starting to wonder if the Rich Dad series will actually tell me what I need to know. For example, Kiyosaki says you should typically become a B (business owner) before becoming an I (investor). What is the next book in the series? Rich Dad's Guide to Investing. *Sigh* I want to take your advice and build a corporation.Read more ›
If you bought this book looking for an action plan, a business plan or a "paint by... Read more