Review by James Jenkins - Rich Dad's Guide to Investing is the third book in the Rich Dad series and is FANTASTIC!
The focus of the book is to provide you with a long term understanding of what it takes to become a successful investor. Rather than providing you with "get rich quick tips", Rich Dad's Guide to Investing seeks to guide you in building a foundation that will last a lifetime.
The book opens with Robert Kiyosaki returning to Hawaii after the Vietnam War. At the time the young Kiyosaki had very little money and even less of an understanding of what it took to become a true investor.
After a lunch meeting with his Rich Dad and his best friend Mike (Rich Dad's son), Kiyosaki realizes that both Rich Dad and Mike have achieved true financial independence and are wealthy beyond their wildest dreams.
It is now his turn to escape the Rat Race and achieve great wealth, but not before he must make some VERY TOUGH decisions that teach him a great deal about himself and his true investment objectives.
Rich Dad's guide to investing is not a "How To" book, as it would be impossible for any bestselling author to provide each and every reader with tailored information. Kiyosaki's magic is that he CHALLENGES the way you think and encourages you to open your mind and take responsibility for improving your own financial education.
What I really enjoyed about the book was Kiyosaki's focus on wealth being created by your mind. Rich investors are the ones that see opportunities where others can see nothing at all. Rich investors are the ones that take the time to continually improve their financial education, while others try and "play the market" based on the latest hot tip.
"Think hard and prepare mentally because you are about to learn to invest in a way that very few people are allowed to invest. You will see the investment world from the inside rather than from the outside. There are far easier paths in life and easier ways to invest. So think it over and be prepared if you decide this is the path for your life."
- Rich Dad
Kiyosaki's Rich Dad tells us that when we say things like " I can't afford to invest" or "I don't have time", our brains shut down and we end up stuck in the Rat Race working for our money as opposed to having our money work for us.
Successful investors don't let things like not having money be an excuse for not investing. In fact it is the very process of overcoming obstacles like not having enough money or time that strengthens our minds and helps us become successful investors.
Furthermore, according to Kiyosaki, it is our personal decision to take responsibility for our financial well being and improve our financial education that will allow us to truly achieve financial independence.
Today many of us feel that the only way to achieve true wealth is study hard and get good grades, but as Rich Dad's Guide to Investing reminds us, high marks and good grades do not guarantee financial freedom. Thomas J. Stanley PH.D, author of the Millionaire Mind states that his research "found NO correlation between high SAT scores, good grades and money". 1
The young Robert Kiyosaki that we are introduced to at the beginning of the book has no money and no real understanding of what it takes to be a successful investor. However, by taking the time to improve his financial education and by listening to Rich Dad's advice Kiyosaki is able to achieve tremendous financial success and become a Rich and Successful Investor.
Rich Dad's Guide to Investing will share with you the same basic rules of investing that Kiyosaki learned from his Rich Dad to literally make millions. The book will also teach you the importance of converting earned income into passive and portfolio income and how to reduce your investment risk.
Kiyosaki does a wonderful job of explaining the differences between the individual types of investors and how investments differ for the Rich, the Middle Class and the Poor. The book also focuses on teaching you Rich Dad's basic rules of investing and individual Investor controls that can separate Rich and Successful investors from Poor and Unsuccessful investors.
In my opinion the most important element of this book is that the author provides you with a long term understanding of what it takes to become a RICH investor. The book is not written for those who are interested in the "magic formula" or the "hot tip". More importantly the focus of the book is to provide you with a solid foundation of how to become RICH!
Rich Dad's Guide to Investing is a wonderful book that I sincerely recommend to anyone looking for a guide to true Financial Freedom.
"Investing means different things to different people. In fact there are different investments for the rich, poor and middle class. Rich Dad's Guide To Investing is a long-term guide for anyone wanting to become a rich investor and invest in what the rich invest in. As the title states, it is a "guide" and offers no guarantees… just as my rich dad offered me no guarantees…only guidance."
Robert T. Kiyosaki
Buy It Now:
Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the Middle Class Do Not! (Paperback)
by Robert Kiyosaki
Also Available in: Audio CD | Audio Cassette