Author(s): Robert T. Kiyosaki, Sharon L. Lechter
Publisher: Business Plus, Year: 2000
This book kick started my interested in controlling your own finance but I realize something is amiss when I finished the book, I am lost. I do not know what’s the next step to take.Luckily for me, I noted down one of the books he mentioned, The richest man in babylon and went to amazon and bought the book. It took me a while before I start reading. Meanwhile, still searching my way to finance success and bought many books which either reinforce his idea or contain really complicated stuff for my still young financial mind. My effort up until then have been much of a waste if not provides little.
Until I read The richest man in babylon, everything make sense.
Robert Kiyosaki failed to consider that his reader are going to be in all kind of financial situation. Young graduate, debt ridden people, financially strained family, long hour working middle class or even the truly rich. But to stir their feeling up and make them take dangerous steps into financial and investment without a good plan is why I took 2 stars away from this book. These step can worsen people situation. Tell people there’s a bargain for a certain property and fail to teach them how to locate one is particularly dangerous. There’s risk in investing and Robert Kiyosaki might have advocated some of his reader to take too much risk.
In today world where these financial means are available to the general public, authors of financial books have to be more responsible in their use of words.
For people who mind has been open up, I want to reinforce that the learning has just started.
Read The richest man in babylon, where this classic tackle almost (if not all) of the financial situation and teach you how to get out of it. It will reshape your concept and mindset about money and how to earn, spend, save, grow, protect and repay to their rightful owner, freeing you from the grip of money along the way.
As of investment, I suggest start understanding the different type of investment.
The major investment type is debt or asset based. Value and growth investing versus speculative trading.
Read The Intelligent Investors and Common Stocks and Uncommon profits can give you great inside on value and grow investing. I do a little of speculative trading which I haven’t find a good book about it but if you are into technical analysis, New concept of technical trading system is an excellent book.
I’m not into debt type of investment so I can’t recommend on that. Check out investopedia and learn more about investment and discover your own investment strategy along the way.
I’m still on my way to financial freedom and only time will tell if I am discipline enough to ripe the rewards from what I learn and whether these classic book continue to prove timeless.
Wish me luck and I wish everyone luck too.