Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money by Robert T. Kiyosaki, Jake Johnson (Editor)
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(Paperback)
- Pub. Date: March 2008
- 240pp
- Sales Rank: 12,850
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Product Details
- Pub. Date: March 2008
- Publisher: Grand Central Publishing
- Format: Paperback, 240pp
- Sales Rank: 12,850
- Series: Rich Dad Series
- ISBN-13: 9780446509367
- ISBN: 0446509361
Synopsis
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.
Biography
After growing up watching the financial lives of his "two dads" (his own father and his best friend's) unfold, Robert T. Kiyosaki turned the lessons he learned into the bestselling Rich Dad, Poor Dad line of personal finance guides. No doubt both dads are proud.
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No Longer a Victimby ResearchGuy
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June 02, 2009: The book addresses the current (2009) financial crisis in the US and world economy. Kiyosaki analyzes the historical actions and factors that led to this situation, and provides specific suggestions for getting out of this. Steve Forbes and Donald Trump have both written forewords for the book.
Kiyosaki points out that this is not a how-to book, with step-by-step instructions. But the principles he presents indicate approaches, a new perspective. Kiyosaki's goal is to enable ordinary people to take charge of their financial lives.Most people still operated under old money rules, but the world changed in 1971. After Richard Nixon's decision in 1971 to remove the US dollar from the gold standard, US Currency has no fixed value.In the current climate, the government has allowed the Federal Reserve Bank to print extensive amounts of currency. This automatically makes all money less valuable. Thus money in bank accounts is losing value daily. But money being used gains value as it is invested in real assets.As the government prints more currency, that diminishes the value of all money through inflation. The ones who suffer are those on fixed income, like wage earners. A job makes them a victim of the rich who hire them. Kiyosaki presents alternatives.Kiyosaki defines five types of intelligence needed to understand the new financial system and take charge of wealth management. Underlying all these is to stop thinking poor.Here are his five points of financial intelligence:1. Making More Money. The problem of debt, living above one's means. But Kiyosaki further says wage earning is victimization. Rather, look for ways to increase your income by making your money work for you, rather than the other way around.2. Protecting Your Money. The highest percentage of tax is paid by wage earners. Thus look for other types of income than earned income. He presents very practical alternatives.3. Budgeting Your Money. A budget is a plan for "the coordination of resources and expenditures." His focus is on managing debt and understanding liabilities.Kiyosaki urges us to be intentional, planning what we will spend, and to create ways to get income for what we plan, not being a slave to to either a paycheck or to our uncontrolled desire for things.4. Leveraging Your Money. Here Kiyosaki outlines specific strategies for increasing the value of your money, saving taxes, using other peoples' money on "good debt" in assets that will produce money (like rental property). Buying a house is not investing. An "investment" is something that brings you return. Kiyosaki focuses on creating cashflow.5. Improving Your Financial Information. In this helpful, practical section he describes 4 approaches to wealth, related to developmental stages in human society and economies: Hunter-Gatherer, Agrarian, Industrial and Information. Knowing these contrasts can help you take understand where you are and take charge of your situation.Must read if serious about your future.by CheeseMR
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May 02, 2009: Very informative about increasing your financial future. Great insights into how the rules and game of money has changed.
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