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:
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. 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.” 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.
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. How to improve your financial information — Kiyosaki shows you how to accelerate your wealth as you learn more and more.
Rich Dad’s Increase Your Finacial IQ PDF
This particular book focuses significantly on the five key points of financial intelligence, as Kiyosaki sees them. They are:
1. Making more money
2. Protecting your money
3. Budgeting your money
4. Leveraging your money
5. Improving your financial information
He points out that most people are (relatively) strong in IQ #1 – they know how to work hard, etc. However, they/we tend to think inside the box and focus on paychecks rather than building and expanding on that.
IQ #2, protection, focuses on all of the things that seek to “take” your money. Taxes are one, but so are businesses, family, and brokers/salespeople. Some of these are more obvious than others.
I think he has a good point on politics – he states that one party taxes and spends while the other borrows and spends, and neither is a good plan – and makes some interesting points I hadn’t considered regarding brokers and businesses.
IQ #3, budgeting, you might think would be the whole, lay out your plan for your money and spend within your means. Unless, of course, you’ve read anything by him before (or really even the first few chapters).
This chapter really resounded with me in terms of “finding” the money you want to spend by producing/purchasing an asset to create it. Probably one of the biggest “ah ha!” points for me in this book.
IQ #4 discusses that old standby, OPM, or “other people’s money,” and how to best utilize it. I’m not a big borrower – I first read “Rich Dad, Poor Dad,” because Dave Ramsey, get-out-of-debt-extraordinaire, recommended it, but I do think he makes some good points. I also like his discussion on fear.
IQ #5 This probably my favorite, simply because I’m a voracious reader (surprise) and love to learn. He makes some great points on the educational system which I agree with, having studied it from other perspectives (and being an ‘A’ student).
Overall, a good book. A lot of repetition of what Kiyosaki teaches from previous books, but that’s one way of learning it, and I enjoyed it. It stretched my mind and broadened my horizons.
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|Books Title||Rich Dad’s Increase Your Financial IQ|