Book Review | Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money by Robert Kiyosaki

Updated: Jul 28

Birth: April 8, 1947, Hilo, Hawaii, USA

Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money by Robert Kiyosaki - 2008

Robert Kiyosaki, the author of the famous "Rich Dad, Poor Dad" Book, wrote some of the best financial freedom books in the world. He shared his economic situation with influential entrepreneurs like us and changed our perspective on life.


I would like to share with you today;

Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money by Robert Kiyosaki.



I read Rich Dad Poor Dad one year ago, it was a gift from my brother. I have stated my views about "Rich Dad Poor Dad" on my site, but in short I can say that the book is worth reading Based on my experience with "Rich Dad Poor Dad" I felt the need to buy this book as well, but such a waste of my time and money. Very vague in nature. No real actionable advice. Repeated stories over and over again. Could have left a few names out of this book. Could have left a few stories out of the book and come to the point. A lot of round about talking without really saying anything that was anything close to give you real financial information. Does a lot of advertising for his other products, ie, cashflow 101. The only difference of this book from gambling-filled advertising sites was that it advertised the game "cashflow 101", not gambling. In short, the book only sells dreams, fills people with hollow trust and makes them feel like they have learned something. Robert Kiyosaki is not the only writer to do this, there are a lot of writers in this way today. In short, the book only sells dreams, fills people with hollow trust and makes them feel like they have learned something. Robert Kiyosaki is not the only writer to do this, there are a lot of writers in this way today.



“Financial IQ #1: Making more money.
Financial IQ #2: Protecting your money.
Financial IQ #3: Budgeting your money.
Financial IQ #4: Leveraging your money.
Financial IQ #5: Improving your financial information.” /Robert Kiyosaki
“When faced with a crippling budget deficit, most people choose to cut back on their spending. Instead of cutting back on spending, rich dad recommended increasing income. He thought it smarter to expand your means by increasing income.” /Robert Kiyosaki
Using simple numbers as an example, if we had $1,000 in income, and $1,500 in expenses, Betty was to take 30 percent of the $1,000, and put that money in the asset column. With the remaining $700, she was to pay the $1,500 in expenses. /Robert Kiyosaki
In other words, we swallowed our pride and did whatever it took to make the extra money. Somehow, we always made it; and somehow Betty stuck with us and assisted us with our problem, solution, and process, even though she worried more about us than we did. /Robert Kiyosaki
I wrote about the importance of paying yourself first. /Robert Kiyosaki
When faced with a crippling budget deficit, most people choose to cut back on their spending. Instead of cutting back on spending, rich dad recommended increasing income. He thought it smarter to expand your means by increasing income./Robert Kiyosaki
He asks for 10 percent and lets me keep the other 90 percent. You know what happens if you stop paying your partners? They stop working with you. That is why we tithe. /Robert Kiyosaki
“Most people know they should save, tithe, and invest. The problem is, after paying their expenses, most people don’t have any money left to do so. The reason is because they consider saving, tithing, and investing as a last priority.” /Robert Kiyosaki
1. Keep nothing of value in your name. It was my poor dad who proudly said, “My house is in my name.” Financially smart people would not have their houses in their names. /Robert Kiyosaki
2. Buy personal liability insurance immediately. Remember, you cannot buy insurance when you need it. You must buy it before you need it./Robert Kiyosaki
3. Hold assets of value in legal entities. /Robert Kiyosaki
For example, if the stock is 110 today and the trader senses the price will go higher, the trader may buy a call option for $1. If the trader is correct, and the stock goes to $20, the trader has made $10 with $1. If the trader thinks the market is going down, the trader may use a put option, or short the stock. /Robert Kiyosaki
One is a budget deficit, and the other is a budget surplus. The reason Financial IQ #3 is so important is because learning how to budget for a surplus is the key to becoming rich and staying rich. /Robert Kiyosaki
While hiring an attorney or accountant may seem expensive, the pain they can save and money they can make for you can be much greater than the fees you pay them. /Robert Kiyosaki


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