Rich Dad Poor Dad + Rich Dads Increase Your Financial IQ Get Smarter with Your Money by Robert T. Kiyosaki
For only 2.00 USD you can have a copy on this digital book.
Rich Dad Poor Dad is a modern classic of personal finance and our favorite finance book of all time. Although controversial and often heavily criticized, people have decided it’s worth reading – otherwise it wouldn’t have sold over 32 million copies.
Robert Kiyosaki tells the story of his two Dad’s in his childhood. His own father and the father of his best friend. While he loved both, they were very different when it came to dealing with finances.
The summary on Blinkist starts with the idea that many of us are too afraid of being branded as a weirdo, in order to exit the rat race. We let the two main emotions everyone has around money dominate our decisions: fear and greed. That’s why we still stick to the outdated mantra “Go to school, go to college, get a job, play it safe.” when in reality no job is safe any more.
For example, when you get a raise at your job, a wise choice would be to invest the extra money in something that builds wealth like stocks or bonds, which has medium to high risk, but also a very high reward. Maybe you find a good fund with a 60% chance to double your money within a year, but a 40% chance of losing it all. However, most likely your fear of losing the money altogether will keep you from doing so.
But when your greed takes over, you might then spend the extra money on an improved lifestyle, like buying a car, and the payments eat up the money – this way you’re guaranteed to lose 100%. This already gives you a glimpse of how important it is to educate yourself financially. Since we receive no financial education in school or college, sadly, this is entirely up to you.... there's more on this ebook buy now.