I have always loved reading. Over the years, I have read many books about finance, including The Intelligent Investor by Benjamin Graham, The Richest Man in Babylon by George Samuel Clason and Think and Grow Rich by Napoleon Hill. Each book shows me a different perspective to the world of finance, which helps me formulate different strategies and options for my clients when it comes to managing their cash flow and investing their money.
One of the most popular books on the subject of finance is Rich Dad Poor Dad by Robert Kiyosaki, which I read a few years ago. There are some great lessons in this book and it is written like a story so it is easy to read and enjoy. As with any finance book, there are a lot of good titbits but also some that I do not necessarily agree with. I agree that it is important to have a can-do attitude and that financial literacy is key. However, there is some suggestion that education is not important and that the only way to get ahead financially is to run your own business, I do not believe this is true, I believe that with the right strategies you can build financial independence with any amount of income.
I admit though that of all the finance books I have read, this is the one I struggled with the most. According to richdad.com, Rich Dad Poor Dad is “the #1 personal finance book of all time”. While I agree that it is a good book, I think a number of the suggestions are not aimed at the average person and so I would question if it is in fact a “personal” finance book.
I recently heard that in 2013, Robert Kiyosaki took one of his companies into bankruptcy after it was discovered it didn’t pay the proper royalties on its seminars and being unable to pay the ordered amount of $24 million. Unfortunately, Robert Kiyosaki has made his living selling his story about creating wealth so having the word bankruptcy associated to that story cannot be a good thing.
When reading in to this bankruptcy further, I uncovered a number of stories about these seminars that Robert Kiyosaki’s business ran. They are purported to help you gain the knowledge you need to grow your own wealth, however they are designed to sell the attendees a more expensive seminar. It is then said that when you attend the next seminar, it becomes an even larger sales presentation for a more advanced seminar at a much higher cost.
I believe that everyone deserves the chance to achieve financial freedom and I have built my business around delivering education at low or no cost so that more people can achieve their dreams. I have trouble with anyone that is taking advantage of people that just want to get ahead in life financially.
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