The author explains some classic notions aimed at making big money. For instance, gather assets not bad debt, pay down taxes and acquire only good debt. i.e. an example of good debt would be a mortgage on an income-producing property or a bank loan to buy a "cash cow" business.
The author encourages us to utilize the bank's money instead of our own in order to leverage a transaction. Sound budgeting and planning techniques are explained throughout the work. The key to utilizing the bank's money wisely is to acquire a property where the cash flow from rents is greater than the mortgage and operating expenses.
This rendition would help to formulate, manage and operate a business or group of business ventures. It is aimed at YOU as the owner of a business and not an employee per se. If you learn anything from reading this volume, it's that rich people gather assets with earning power to build real wealth. Poor people tend to accumulate debt with high interest costs attached.
This is the second book I've read from Robert Kiyosaki and it was a quick read but very informative. If there's one thing that successful people tend to mention is that their thinking process is usually the opposite of what most people think. Kiyosaki gives a number of examples of that in the book. He explains how the economy of the US changed forever in the early 1970's and that the government prints more money, essentially decreasing its value. So most people are conditioned … more
For years, Robert Kiyosaki has firmly believed that the best investment one can ever make is in taking the time to truly understand how one's finances work. Too many people are much more interested in the quick-hitting scheme, or trying to find a short-cut to real wealth. As Kiyosaki has preached over and over again, one has to truly under the process of how money works before one can start out on trying to escape the daily financial Rat Race.
Now, in this latest book in the popular Rich Dad Poor Dad series, Kiyosaki lays out his 5 key principles of Financial Intelligence for all to understand. In INCREASE YOUR FINANCIAL IQ, Kiyosaki provides real insights on these key steps to wealth:
o How to increase your money -- how to assess what you're really worth now, what your prospects are, and how to start mapping out your financial future.
o How to protect your money -- for better or for worse, taxes are a way of life. Kiyosaki shows you that "it's not what you make....it's what you keep."
o How to budget your money -- everybody wants to live large, but you have to learn how to live within your budget. Kiyosaki shows you how you can.
o How to leverage your money -- as you build your financial IQ, knowing how to put your money to work for you is a crucial step.
o How to improve your financial information -- Kiyosaki shows you how to accelerate your wealth as you learn more and more.