Just finished the book, Rich Dad, Poor Dad
, by Robert Kiyosaki and Sharon Lechter. I thought the book was OK, though I'm glad I didn't actually buy the book. A friend had given me his copy. There aren't really any major new revelations in the book on how to make money. Though for the complete novice, there are important points presented:
- Your greatest asset is your mind.
- Think long-term.
- Donít have expenses greater than your income.
- Use discretionary income to invest in assets instead of buying liabilities.
- Use assets to product income.
- Assets can include such things as stocks, bonds, real estate, commodities, businesses.
- Invest in things that are interesting and that you will enjoy investing in.
One thing that intrigued me is that the authors have produced a series of board games called CASHFLOW to teach about the principles in the book. However, the prices of them do seem a bit steep (CASHFLOW 101 costs $195.00 retail). But, it seems a great way to teach kids about finances.