Rating 7/10
This was one of the books that kicked my backside into gear. Since first reading I have set up and run 6 businesses. Quite simply, it can be life changing.
Robert Kiyosaki teaches financial intelligence and how to use the rules that have been set for us to use so that we benefit from them, rather than be controlled by them. The main theme of the book, and the reason for the name, is how two father figures in his life take two different paths…. One being very entrepreneurial (His best friends dad) and one being a more ‘normal middle class’ man (His real dad). The author explains the difference in mindsets and what rules each play by.
His entrepreneurial ‘dad’ owned numerous businesses, employed hundreds of staff by playing the entrepreneurial game, whereas his real dad plays the standard middle class game, working his way up the ladder in a government job only to be relieved of his duties towards the end of his working life with no income or assets.
The author explains in detail the difference between assets and liabilities and how to utilise debt effectively in order create financial abundance for yourself. Covering property investing, precious metals, stocks and shares, business and how to adapt in different market conditions.
Having invested in a few different asset classes myself after reading this book, I can now see why it also has some critics, maybe making things seem easier than what they are and not taking into consideration different peoples attitudes to risk. However, do not let that deter the fact that this is a real game changer and can shift your mindset very quickly.
He also also wrote a number of other books including, ‘The Cashflow Quadrant’ and ‘Second Chance’.
Highly recommended for anybody seeking a more solid foundation in financial intelligence.