A Financial Journey

Why the Rich Are Getting Richer

Why the Rich Are Getting Richer

Robert Kiyosaki

WTF? Rich Dad Poor Dad is a real classic (if slightly more applicable in the US). But what happened here! It’s apocalyptical! The first half essentially says we’re all doomed (with a few conspiracies thrown in, including a very US-centric view of WWII), with several adverts for his accountant. The second half just repeats the phrase REAL FINANCIAL EDUCATION many, many times. Ok, I get the point (hence this website).

AND… it’s full of typos, odd formatting and repeated sentences. It reads like a first draft which accidentally got sent to the publisher.

It also seems to be a lengthy plug for his board game. I do though like his example of how buying a Porsche made him money. Essentially, he had the required 50k, but rather than spending it on the car, he used it as a deposit on a commercial property (therefore an income-generating asset), mortgaging the rest. He bought the Porsche with a loan, and used the income from the property to pay the loan off as well as the mortgage. Some years later he had the paid for Porsche (now worth several times as much as it was a flat-nose 911), as well as the property. Not an easy option, or risk free but is does demonstrate his points about using debt and leverage.