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. I guess he is speaking of the fortune 500 companies then. We are told of the author's real estate properties that generate income whether he works or not. Mention is also made of mutual funds and "other" ventures. Yes, but HOW was this done...we are left to wonder.
We are then told of some failed business practices and that the majority of businesses fail however, he recommended becoming a B before moving to an I. When investing, this should be done carefully with advice of those in the know but again we are not told how or what to invest in because the author did not like giving specifics because each person's circumstance was different. ..However, in his NEXT book, RDPD's guide to investing, all will be revealed!
In his conclusion, the author reminds us to mind our own business and get into the right mind set by playing his board game CF. DUUHH!
He then proceeds to compares three groups, the Broke masses, the successful middle class investor and the rich. One group [guess which one?] has resources listed as: RDPD, CFQ, CF Game, RK tapes etc.
Finally, we live in a real world. What about persons with CHILDREN? How does this impact with day care, school fees, attendance and pick up. Funny enough, no mention is made about these entities that require HUGE sums of money to maintain, having an impact on our financial adventure!
Recommendation: Read the Richest Man in Babylon instead. It is shorter and has everything that you want to know and you can start immediately! It outlines broad principles and formulas that work which can help the ordinary person as well as the E, S or B move between quadrants and save to become an investor. It can even help the U's get into a quadrant! It talks about your family, children , wife etc. It has certainly helped me. The multiple streams of income are explained, as is the use of your money to work so you don't have to, all clearly laid out. And this book was written over 50 years ago!
Read also the Wealthy Barber, I view this as an essential follow up to the Richest Man in Babylon in the unlikely event that your eyes did not light up after reading it for the first time. This will tell you the specifics instruments available that will help you.
This book CFQ, [all 251+ pages] should have been edited removing the 82.5% FROTH leaving approximately 30 pages of material for second edit!
Comment: this book does nothing to help the ordinary citizen move into financial freedom. What it does do is ensure a stream of income for the author whether he works or not! By constantly mentioning the super rich such as Bill Gates, Ford, and so on makes one think. Of the over 220 Million persons in the USA how many Bill Gates are they? He is the exception, not he rule!
If it were possible to give negative stars, I would have here. This incomplete, rushed, advertising marvel seemed to have captured the imagination of some readers by using a diagram and re-presenting material that has been well presented elsewhere. By the way, one reader compared this book to the Richest Man in Babylon. In a word..don't. That would be like comparing little leaguers to the superbowl!
In conclusion I cannot recommend this book. It is Cash Froth Quid pro quo. We give cash; he gives froth, quid pro quo! Hence 1 star.
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. I have no money (so investing is out of the question), but I'm ready to get serious, and now you won't tell me how to get started? He ends this book with the this advice: "Take baby steps." His next book gets you ready for the Olympics. Either I'm missing something or he is.
So I must say I give this book high marks for philosophy (just like its predecessor, CQ has helped reshape my thought patterns), but if you want much actual information, you will be spending more money on books. If the purpose of this series is to teach you how to have more money with less work, Cashflow Quadrant is an ironic waste of time and money.
Quick note on audio CD: the narrator's habit of extreme annunciation definitely takes some getting used to.
If you bought this book looking for an action plan, a business plan or a "paint by... Read more