Rich Dad's Who Took My Money?: Why Slow Investors Lose and Fast Money Wins! Paperback – 2004
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Top Customer Reviews
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.Read more ›
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.
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.
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.
Most recent customer reviews
DO NOT BUY THIS BOOK!!! OR ANY OTHER BOOK WRITTEN BY THIS AUTHOR. HE IS A CHARLATAN, A CHEAT, A CROOK. THE ONLY PERSON THAT MAKES MONEY FROM THIS BOOK IS THE AUTHOR. Read morePublished on July 1 2004 by jim scott
The good news is that this book is the next progression in the Rich Dad series. There are key elements discussed in how to move beyond the "average investing" that... Read morePublished on May 7 2004
I knew this book was due to come out and was happy to see that my favorite book store had it already.
So far, I have only been throught he first three chapters. Read more
People who want to make money with their money. People who want to make their money work as hard for them as they work for it. Read morePublished on May 1 2004 by We're Going Places!!