Wednesday, July 04, 2007

Book Review: 'Rich Dad Poor Dad'

Book Review : Robert kiyosaki (Rich Dad, Poor Dad)
-- This book has the power to brain wash you and its a good thing for you. All of us are brillinant, intelligent and professional in our work or field we are interested in. But in finances (which is the major part of how you will spent the rest of your life) we all lack interest and financial knowledge. Robert emphasizes on gaining the financial intelligence so that you can master the art of 'money working' and make money work for you. The primary message he conveys through this book is "Don't work for money, Let the money work for you".

-- some interesting things he points out to support his idea.
- you work only 8 hr per day for money, but your money work 24 hr a day for you
- Robert recommends Peter Lynch's book 'Beating the Street' for stock investment
- money is nothing but an idea
- the art of money making is moving with time. In the information age of today you must be really quick to adapt yourself to the changes
- your greatest gift is your time and your mind
- you have the power and the right to use every rupee that land in your hand. spend it properly and u get rich or spend it foolishly to make yourself poor.
- money game CASHFLOW
- be focused
- put your more eggs in few baskets rather than putting fewer eggs in more baskets
- cynics crytisize and winners analyze
- difference between broke and poor (broke is temporary but poor is eternal)
- difference between; i can't afford and how can i afford it. if you say i cant' afford it, your mind stops working.but the latter opens up your mind to cretive thinking of the ways to affording your wants
- answer to beat your laziness is little greed
- invest first in your education
- pay yourself first, the bills at the end
- savings are only used to create more money, not to pay bills
- pay your brokers well, source of great information
- its good to pay brokers well than to tip in a restaurant
- Take responsibility for your finances or take orders all your life. you're either a master of money or a slave to it


Well all i can say about this book is, this is a book worth reading and it works to make you make financially intelligent. Go for it. A must read.

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