errantember

Think your house is an asset? Find out why you're wrong by reading this insightful and disturbing book about the differences between the financial knowledge and behavior of the rich vs. the middle class and the poor. Robert Kiyosaki compares the financial advise of his poor but well-educated biological father and that of his poorly educated but financially savvy best friend's dad. The book points out the real difference between assets (which make you money) and liabilities, and the deficiencies in financial education in the modern school system. This book is the first step toward becoming financially literate enough to understand when and how to invest in real-estate and businesses, and will change the way you look at money. Mr. Kiyosaki's dedication to the financial education of children has earned him a place on PBS.

Easy to read and well illustrated with simple diagrams and very few numbers, this book shows how the rich set up income streams and make money work for them rather than the other way around. It's main point is that (similar to relationships!) we learn virtually nothing about the way money really works in school, and that the only thing standing between the average person and a number of very accessible means of becoming financially independent is gaining a basic financial education. I'm currently reading the next book in the series as well as several books listed in the bibliography and taking the first steps toward getting into real assets that will produce money for me without my direct intervention, in the form of stocks and real-estate. I'm also working on getting a copy of Cashflow 101, a monopoly-like financial board game that claims to teach exactly the skills necessary to better interact with the financial world. Once I've got it I'll be interested in playing it with my friends to see what we can learn. I'm intrigued by the idea of using a game to learn subjects that might otherwise simply be too boring or involved to be worthwhile. I'm less intrigued by the game's $200 list price (no wonder he's rich!) but am working to get a cheaper copy through other channels.