The overall rating of a review is different from a simple average of all individual ratings.
Share this review on
Actually, Rich Dad Poor dad, Robert Kiyosaki's first book was the first book I actually read and felt good about motivational books. This his third book provides a good insight on how the rich make money and the poor never dare to. it went a step further to break down the two types of income he cited in his first book into four quadrants. On the top left quadrant, he has the actively employed or employee- one who is working for somebody else and who at the end of the month gets a pay check. On the bottom left quadrant, he has the self employed. On the top right, he has the businessmen, and finally on the bottom right they he paced the Investor which I understand is what everyone is suppose to be. This book made me drop the traditional finish school and get a good job mentality. It placed me on the level in which I see things from the level of an investor. Initially, when I read this piece of classic, I was mistaking the self employed as people with little businesses but on reading it more and more, I came to realise that those in the S quadrant are businesses without a vibrant working system of systems. These businesses actually fail in the absence of the owners. It may be a small scale capital business or even a large scale business but would still belong to this quadrant. He made mention an example of artist who has a given talent in singing but has no marketing, accounting nor managerial skills and he just hops in to starting a business. Those in the E quadrant are those who actually are under paid employment. I realised that people are excited losing sleep for other people's business. In most developing nations, being in the E quadrant has been the trend that people feel it is their God given right to finish school and get a job with a big paycheck. In the words of Ogbo A. Ogbo, they confuse financial freedom with financial security. A big base salary with other pecks is just financial securty. Mr Kiyosaki actually made me understand that what you get paid is very minute compared to your actual worth each month to the company. On the right side, he places the B- these are business owners. These people actually have systems put in place for their businesses to outlive them. Finally, the I quadrant consists of investors. Those who are not involved in the day to day management of businesses but they make the most money. another very interesting story in this book is how he ran to buy his first real estate property without actually understanding the numbers which ultimately would have had him in doom but for the intervention of his Rich dad. This very story I use to compare to my own story. I have been hearing a lot about stocks and so decided to read financial newsletters which unknown to me were from brokers that had no idea of what they were doing and were just there to make money. I ended up buying some shares from an IPO but it was a big disaster. The stock lost almost 100% of its value. The lesson from this is that after reading this book, I just ended up smiling, because of my foolishness in entrusting money to a stock without due diligence on my part. It is a very interesting book with real life experiences.
i guess it depends on how you measure success, means more than just money to me
anonymili 11.09.2009 11:18
Haven't really seen anything much here to persuade me to buy this or read this. I know people who are successful despite not having rich parents or a good further education just as I know people who were born with a silver spoon in their mouths and have failed in pretty much all walks of life. I also know successful and failed self employed people and none of them got their success from reading a book :)
loveofnight 10.09.2009 19:24
good info. but formatting it with a little more detail will help