This book made me rethink all my views on money. It was also the impetus to get me focused financially.

Despite being completely focused on the Amercan financial market and retirement plans (or countries similar to it such as Canada), this book offers a practical philosophy that you may be able to use in your own country as well.
Considering the practicality as well as the short length of the book, I totally recommend reading it.

Very helpful when it comes to getting into the mindset of how to save money. I never would have thought to save money by not buying lunch everyday at work. I could save a lot more by making something and bringing it in or eating leftovers. This is only one of the many tips I learned from this book.

I like the main premise of the book, making your investing automatic to pay yourself first. I disagree with the "no budget" philosophy. His argument is that they are boring, stifling, and don't work. Inn experience they are what keep you from going into debt.

I am not sure how automatically saving and investing is going to keep you from wasteful spending of the rest of your money without having a written budget and sticking to it.

Pretty straightforward. Mostly helpful to someone who's never read a financial planning book before. Basically take advantage of compound interest, invest as early as possible, and make your investments (401k, IRA, etc.) first, immediately out of your paycheck and just live off the rest. Inadvertently funny because automatic banking is cutting edge in 2004.

While most of the ideas in this book aren't groundbreaking I found it motivational and I loved all of the specific resources he lists throughout the book to help you get started.

الكتاب بالجملة مفيد لعامة الناس .. كونها يحوي طريقة لتجميع مبلغ مالي جيد من خلال التوفير من الإيراد الشهري أو النصف شهري ..
يحوي أفكار كثيرة رائعة .. لا يرقى لما طرحه كيوساكي في كتابه " الأب الغني والأب الفقير " لكنه في الجملة رائع ومفيد
أكثر ما أعجبني فيه طريقة التسديد النصف شهري والذي يضيف نصف شهر في السنة ويسقط عليك نصف التكلفة بعد مرور عشرين سنة ..
أنصح بقراءته

A quick and easy read which is what the author said it would be. I don't think any of the information provided is groundbreaking but it covers the major things one can do to build financial security, but all the info could also be found on YouTube or Reddit. Helpful advice nonetheless

The premise of this whole book is that if you do anything with money, throw out the concept of a budget and automate everything you do with money. Safe idea?

He explains everything in a very young-adult reader fashion by creating little snippets of conversations with people from either interviews or classes he taught and framing it in a way that sounds funny and easy at the same time. I think the idea of a budget or some finance manager is still important for tracking expenses and following up on errors that occur, from the bank or businesses.

His try and true method is simply, set percentage goals of saving and investing and giving and set up automatic drafts from your checking acct and then leave it be. This sounds nice and easy, but does not take into account people who travel a lot and those that have unstable incomes. He touches briefly on the subject of self-employed people but not enough for people who know they only get paid twice a year or maybe less than ten times a year.

This book is great for those that live basic, stable lives where nothing ever changes and no surprises will happen. If that's you, then read this book. Its a great saturday read and you can learn a lot from it. His chapter on investing is very helpful.

This is a valuable read that I think all college students and young 20-year-olds should read! This is an easy read. It motivated me to pay myself first in order to set my wealth for the future.

1. The Latte Factor (or in my world, the Chocolate Pastry Factor) - Small payments every day add up; by the same token, small savings every day add up. The book challenges you to pay yourself 1 hour of your pay every day. Maybe this is $10; maybe it's $100. When you try it, you'll be surprised at how much you can save.

2. Pay yourself first. The government does it with our paychecks, so why shouldn't we adopt the same tactic? Otherwise you will likely not have the discipline to "pay yourself" later. How to do it? Automatic payments...

3. Use automated payments for disciplined and simplified investing. The author recommends automatically setting aside 10% of your pay. Most companies allow you to do this very easily (two separate checking/savings accounts). People who think saving 10% of their income is difficult will be poor their whole lives. This book is not nearly as aggressive as "The Millionaire Next Door," which advocates saving at least 50% of your pay. If you take advantage of pre-tax savings (401k, IRA for husband and wife, Employee Share Purchase Program, 529 Plans, Health Savings Accounts, etc., many of which employers contribute to if you do, and that is on top of your base income), it is easy to save well over 10% of your income. I suggest trying to save substantially more. By saving 10%, yes you'll become a millionaire, but you'll probably be in your 60s by the time you achieve that goal. What I don't like about the book is that it doesn't go far enough or inspire people that they can retire early.

4. Max out your tax advantaged savings. As mentioned above, some of these are 401k (with employee match), IRA for husband and wife (if you have a retirement plan at work, you can't contribute to a traditional IRA in addition to the 401k; but if only one spouse works, you can contribute to your spouse's traditional IRA), Employee Share Purchase Program (many companies have a plan that allows you to buy company stock at a 15% discount, up to $25,000 every year (IRS rules), or $12.5k every six months; that's an easy 15% return on a simple, automatic investment; if this is available to you, just bite the bullet for 6 months and use that portion to effectively pay for the next 6 months, and on and on), 529 Plans (some states have huge tax incentives for contributing to a 529 plan; for example, contribute $5,000 and receive a $1,000 tax refund (in Indiana)), Health Savings Accounts (many employers will contribute to these; IRS limits are $7100 for 2020; your contributions are taken out pre-tax, you can invest the funds and earn a return tax free, and you can spend the money on health-related expenses tax free, a triple win!); etc., but these are the major ones.

5. Use automatic payments to set aside a rainy day fund. Set it aside and don't touch it! Put it in an account that you don't use other than for your emergency fund.

6. Own your home; don't rent. You'll be surprised at how much lower your taxes are each year. And you might even benefit from appreciation. One funny thing in the book is that he says there never has been a housing bubble. It was published before 2007. What the author says is right, however, that any downturns are short-term (years?). If you stay in your home for several years (at least 5 years), you are likely to see appreciation.

7. Pay your mortgage bi-weekly. You might need to call or pay an ongoing fee to arrange this with your lender, but it's worth it because it could knock off 5-10 years off your 30 yr mortgage.

6. Automate tithing payments (10%). If you're religious or generous (as everyone should be), this will be easy to do because you're likely already paying 10% of your income for charitable purposes. And no, this doesn't count as the 10% saving above.

I don't think this was emphasized enough in the book, but the best thing to do is save as much as you can (20%, 30%, 40%, or more). And do it in an organized way. Identify how much you want to save in a particular year, then break down where those savings will come from (Automatic setting aside of 10% of regular pay, your entire Bonus, 401k contributions, IRA contributions, HSA contributions, ESPP contributions, 529 contributions, side gigs, overtime, gifts, etc.).

We can only invest with what we save. To quote Adam Smith from the Wealth of Nations: "As the capital of an individual can be increased only by what he saves from his annual revenue or his annual gains, so the capital of a society, which is the same with that of all the individuals who compose it, can be increased only in the same manner."

This book accomplishes exactly what it sets out to do. It’s a simple, accessible guide that can be devoured in an afternoon that de-complicates personal finance and helps anyone of any income level set themselves up for retirement.

Thanks, David!