I read this because I enjoyed the first. As far as specifics, this book has more, and if you could only read one, I would recommend this one. There is some genuinely good frameworks in here for understanding basic personal finance and life goals.

I particularly liked how he said the poor pay to take risks whereas the rich get paid to take risks. I also enjoyed how he said the E works for a system, the S is a system, the B owns a system, and the I buys into a successful system.

The boom suffers from some turn of the millenium motivational BS that, if taken out, would have made all the good points in this book one or two extra chapters of RDPD. Maybe reading a summary of this one would be better.

The cashflow quadrant is split into 4 quadrants.
E: Employee
S: Self-Employed
B: Business Owners
I: Investor

Each quadrant represents the way a person earns income and wealth. Most people fall into the first two quadrants, which are being "E" or "S". In order to be able to build wealth and be financially free, there is a need to move towards being "B" and "I".

People in the "E and "S" quadrant typically trades their time for money whereas people in the "B" and "I" quadrants are able to have more time to themselves and yet be able to get their money working hard for them. This is something that as an E, I need to build towards building.

One part in the book that particularly resonates with me is analysis paralysis. People who typically do well in education such as straight As students are struck by inaction due to their analysis paralysis. Education punishes people for making mistakes hence these straight As student study every detail, min-maxing their actions but fail to do anything in the end. Sometimes doing something is more dangerous than doing something and it is really evident in this. Education really prepares us well to be "E" and "S" but nothing is taught about being in the "B" or "I" quadrants. Robert Kiyosaki states that people who makes mistakes and learn from them will do better than those who are afraid to even make those mistakes. This is a mentality that I need to work towards adopting.

Furthermore, in order to move towards "B" and "I", one must truly be comfortable with taking the risk and moving into those quadrants. This is something that "E" and "I" may not be comfortable with due to the stability and safety net offered by their jobs. Yet it is something that needs to be done.

Still trying to rewrite my mindset as an "E" to move into the "B" quadrant and this book has definitely given me some insights!

More advanced then rich dad poor dad goes more In depth on things then rich dad does also into financial literacy.

Mind your own business is the theme of this book. This book discusses all kinds of reasons why people are not more financially literate and steps to take to improve knowledge of finances. Every chapter was fascinating and full of helpful advice. It discusses why people are afraid to invest and then the process of how to start making passive income. The book was excellent and I look forward to reading all on the series.

The much maligned Robert Kiyosaki is here to open your eyes to the new age of finance. The age in which great sums of money are needed just to survive into retirement. Do you realize that if you're in your 20's now you'll need approximately $2.5 million to retire on? Just look at how quickly those gas prices are going up and imagine the cost of living 45 years from now.

Kiyosaki believes that the government and business are conspiring to keep the general public down by advocating education as the end-all and cure-all to the American Dream. As a former educator at the college / university level, I can tell you that an education will get you a direct ticket to debt if you don't look to your financial betterment and learn how to invest in business and real estate. This book is a must read for people who don't want to struggle financially all their lives or end up working as a Wal-Mart greeter at 75.

And if you think, like many of my former students, that a $100,000 salary will bring you wealth and security into retirement, think again. Considering that half that money will go in taxes (income, property, sales, etc.) you've got a miserable $50,000 left over. That should cover your mortgage, now what?

Kiyosaki and others on the cutting edge, realize that today one cannot rely on the government or one's employer for their financial present or future and that owning a business in some capacity is the wave of the future. And more and more people are jumping on the bandwagon, home based business on the rise (interesting that the majority of new entrepreneurs are women).

This is a must read for current and future providers.

A MUST READ!!!

The author always inspires me fight the fight to become financially free. Only thing is that some things don’t apply in todays world but can definitely take the concepts he talks about and apply it as I plan my future

This book doesn’t tell you what to do, but rather, it gives the reader a great foundation of knowledge on the different “cashflows” or ways to make money. It gives brief but great insight on how employees, self employed people, businesses and investors make money and are taxed. It also talks about the “rat race” that so many people often get caught up in and how to get out of the rat race. It emphasizes increasing your cashflow by investing in assets rather than accumulating liabilities. It talks about the various types of assets such as real estate, businesses, stocks, etc. Also briefly mentioned interest rates and negotiating real estate terms. My favorite part was when he explains how a law passed in 1986 caused doctors, lawyers, dentists, etc. to pay more taxes. They're not only taxed before they get paid, like regular employees, but they're taxed additionally for being self employed even if their business isn't profitable. It’s still better than being employed but it really emphasizes the sweet deal that business owners and investors get; tax reductions, lower tax rates and tax incentives.

It would be sufficient for people eager to be investors to stop at Rich Dad Poor Dad. I could not finish this book because I felt that I was really just reading the same repetitive opinion -- that creating business systems and focusing on investments were the only wise things to do. There weren't really much practical advice or learning points to be obtained here.

This book is dense in knowledge, I dare you to find another book that's informative power per page is greater.

some General information
i expected more

Recommended by coworker Josh F, this book presents some complex or "hidden" truths that will open your eyes to false conventional financial wisdom. For example, a mortgage isn't an asset but a liability in disguise. Def got me thinking about the importance of upping my financial knowledge as well as challenging my thinking of being an employee vs being a business owner.

Įdomu buvo skaityti ir susipažinti su autoriaus požiūriu į finansus, pinigus ir darbą. Galbūt ne su visom idėjom norisi sutikti. Visgi, sakyčiau, knygoje dėstomos mintys praplėtė akiratį bei leido geriau suvokti ir pažinti save - pats kvadrantas, suskirstantis pinigų gavimo būdus, žinios apie investuotojų lygius ir tipus, pasidalinimas savo ir aplinkinių patirtimi.