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Rich Dad's Who Took My Money?: Why Slow Investors Lose and Fast Money Wins! [Paperback]

Robert T. Kiyosaki , Sharon L. Lechter
3.9 out of 5 stars  See all reviews (9 customer reviews)

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Book Description

May 1 2004 0938045369 978-0446691826 0
Reveals how to actually speed up and maximize the return on investments to achieve total financial independence.

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From Booklist

The eighth book in the Rich Dad series reveals the financial wisdom of the rich, which is neither taught in schools nor discussed in the popular financial press. The authors begin with an example of the Zen master-student relationship that Kiyosaki had with his Rich Dad mentor. Kiyosaki had made the mistake of many inexperienced investors and bought into a mutual fund he knew nothing about; his Rich Dad let him stay with the bad investment for months to learn the lesson of patience. Kiyosaki also learned that the common advice to "invest for the long term, buy, hold and diversify" is not really advice but actually a sales pitch, and it teaches very little about how to become a smart investor. The reason most people continue to choose mutual-fund investing is because it is so easy, and that is also why it is inherently risky. Kiyosaki and his coauthor emphasize investing in asset classes other than equities, such as a business venture, real estate, and paper assets like hedge funds and options. These approaches require more thought, education, and effort than does simply handing one's money over to a financial company and allowing a stranger to control it, but the risks are lower and the potential financial rewards can be much greater. Certain to be in demand at the circulation desk. David Siegfried
Copyright © American Library Association. All rights reserved

Review

"More than a how-to audio, this program lays out the life and money decisions all individuals make, consciously or not....Watch out if you have any ambition because these possibilities could change your life direction." --This text refers to the Audio Cassette edition.

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First Sentence
In December of 2002, a local newspaper in Phoenix, Arizona, ran an article on my book Rich Dad's Prophecy, which had just been released in October of the same year. Read the first page
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Customer Reviews

Most helpful customer reviews
3 of 3 people found the following review helpful
4.0 out of 5 stars Who Took My Money -- Book Summary July 6 2004
By A Customer
Format:Paperback
If you're sick and tired of working harder and harder and not getting anywhere, begin to educate yourself on how you can improve your financial position. If you don't think that things have become that bad, then just consider the fact that the average annual salary of an American worker increased only 10%, from $32,522 to $35,864, during the nearly 30 years between 1970 and 1999, while that of the "Fortune 100" top American CEOs has increased 2800%, from $1.3 million to $37.5 million, during the same time period.
In this ninth installment of the Rich Dad Series, Kiyosaki addresses the issue of which specific investment vehicles people should invest their money in. The need for such information remains greater than ever. Millions of investors lost nearly 9 trillion dollars during the stock market crash that lasted from 2000 to 2003. This marked one of the greatest wealth transfers ever. Remarking on this cataclysmic event, Kiyosaki writes, "The question is, How can so many millions of people be deluded into the idea that losing money every month, for years on end, without a money-back guarantee or insurance against catastrophic loss can be considered smart investing? It has to be one of the biggest mass sales jobs in the history of the world...a sales job that could only occur with a financially naïve population (203)." The answer of course is greater financial literacy. For example, many of those stock investors who lost money in the market may have avoided the misfortune if they had seen the graph illustrated below.
The primary reason why real estate values have appreciated more than the S&P during the ten years between 1992 and 2002 is largely attributable to the power of leverage and the fact that real estate is indexed for inflation while the S&P is not.
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2 of 2 people found the following review helpful
3.0 out of 5 stars Kiyosaki Advances More Concepts May 20 2004
By A Customer
Format:Paperback
I have about 8-books by Kiyosaki, and find they all add to my financial perspective. What I liked the most about this book is his discussion between a capital gains investor and a cashflow investor. Most average investors are capital gains investors, but successful investors are cashflow investors.
Although I like the Kiyosaki books, I give it only 3-stars because when I finished the book, I'm left with "that sounds great, so how do I do it??" Well, I found some great answers in Van Tharp's new book "Safe Strategies for Financial Freedom". Van Tharp was a fan of Kiyosaki, and his influence is obvious. But Van Tharp finally reveals exactly how to get some investment/passive income from some experts.
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1 of 1 people found the following review helpful
4.0 out of 5 stars The best book after Cash Flow May 13 2004
Format:Paperback
This book was great. So many of the other kept repeating the same thing but this one had quite a few new things to say. Very motivating and gives some tips, tools and ideas. I really liked the part about Capital Gains (ie. investing in stocks) vs. Cash Flow (rental properties and business). I also like the game analogy and what quarter are you in.
Probably one of my only complaints about his books is he makes everything sound SOOOOO easy! Now I realize if it were easy everyone would be doing it, which is why everyone isn't. This book will help you figure how you can be wealthy. Kiyosaki also went into some pros and cons of the various asset classes (business (the hardest of all), real estate and paper (stocks - the easiest).
All in all a good book and an easy read. Worth your time.
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5.0 out of 5 stars Far better than financial planner advice May 8 2004
Format:Paperback
If you have been listening to typical financial planners over the last three years, then you were one of the millions that lost nearly $10 trillion! I don't know about you, but I don't like to lose money.
Obviously the review written just ahead of mine was by a financial planner. Financial planners are just like brokers, that is, they cause you to become broker with their advice. The best financial planner you will ever have is the one who looks back at you in the mirror. If you give up your investments to financial planners, advisors, brokers etc. you will end up a financial loser.
Robert Kiyosaki has once again written an excellent book with advice that really works. What these "investment people" always neglect to mention is that Kiyosaki's advice has been right on all along. He predicted the crash of 2000 in his earlier book Rich Dad's Guide To Investing. What were investment advisors, financial planners and brokers telling everybody to do? That's right "buy and hold", (more like buy and pray that your investments will someday get back to where they were 3-4 years ago) "diversify" (put your eggs in many baskets and have many baskets of crushed eggs), "dollar cost average" (more like average down) and so on.
If you had listened to Kiyosaki as I did and many others, you would have been out of risky stocks and had your money in other equities that provided huge returns.
Ifyou are a serious investor, then I highly recommend this book along with Rich Dad's Guide To Investing and Rich Dad's Prophecy. Kiyosaki and his Rich Dad have been right so far and I would bet on him continuing to be right again.
Of course you could listen to a financial planner, advisor or broker and end up broker and perhaps join others and lose another $10 trillion.... again with their "professional" advice.
Good book RTK. Keep em coming.
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