024-2019 Rich Dad, Poor Dad

Title: Rich Dad, Poor Dad

Author: Robert T. Kiyosaki

I bought the pocket-sized booklet of this top-seller, and am really satisfied with what I got from this read.

The approach followed by the author to tell this story is quite interesting. And it all starts with the entertaining title of the book. Before I bought myself a copy of this book, I wondered how he would give financial advice from a poor man and rich man’s perspective, and was given the answer straight away in the first chapter when he confirmed that the story is based on his time of growing up. His real dad being the ‘poor dad’ of the story and his ‘rich dad’ being the dad of his best friend. And the way he tells the story (/teaches the lessons as he grows up) was really well done.

He emphasizes on multiple occasions that schools only teach us the skills to become active and contributing members of a functioning society. Which is needed of course, for a society to function the way it does today. But there is more we could learn for ourselves, and live somewhat differently, making our lifestyles a little better.

This financial knowledge is introduced in this first book and has the following disciplines: 1) The Rich don’t work for Money, they make Money work for them; 2) It’s not how much you make, but how much you keep; 3) Mind your own business; 4) The history of taxes and the power of corporations; 5) The Rich invent Money; 6) Work to Learn – Don’t Work for Money; 7) Overcoming obstacles; 8) Getting started – There is Gold everywhere

Especially the first chapter was a little tricky for me to get in. “Don’t work for money”. I really had think on that, and even when I thought I had understood what was taught, when I read the subsequent chapters I understood more and more that that initial understanding wasn’t quite right. And gradually I learnt what he meant, and now believe I understand his lesson much better. So much so that I try and look around me for potential business ideas.

The great thing about growing up in a developing country, and then moving to a developed country, is that chances are that some ideas in place in the latter country have not yet been implemented in the former country. Thus, I look and see whether that business idea would have any feasibility in my home country.

Lesson 2 of the book I have already implemented before starting off the book, and lesson 3 is currently in progress. Having read the lessons and already seeing that to some small extent I was already on the right path, I was really excited to think of ways to take the next steps and improve my asset-base 🙂

Lesson 6 also gives good supporting reasons why we should never stop learning, and should in fact invest into our education, more so than make ‘conspicuous consumption’.

Summary:

The book was a fun read, teaches the lessons in a clear and understandable way. After every chapter there is a summary of the matters that were discussed in the chapter (however, the summary is almost written in the same manner that the chapter was written, and therefore it feels like the summary is not helpful). The lessons are sound, and the author strongly urges the reader to understand what the reader just read. The book got a rating of 5.7/5

017-2019 The Richest Man in Babylon

Title: The Richest Man in Babylon

Author: George S. Clason

Do you remember when you received some money from parent, or grand-parent, and then didn’t know what to do with it? Do you maybe even remember your parent telling you that when you start receiving a salary you should put away 10% as savings?

I admit, I vaguely remember being told this wisdom, and it made sense to me, but not where the 10% came from exactly.

Well, if you’re up to enhance you financial wisdom, not knowledge but wisdom, then this financial basics introductory is exactly for you. You don’t need a degree in finances to follow, because the idea of transferring this wisdom to the reader was to be simple.

The book aims to give every reader the wisdom that was used in the ancient times of Babylon to enhance one’s wealth, and potentially accumulate more. (Exactly what we all want 🙂 )

The book is written in a conversational tone that could be interpreted as the elder teaching the younger a lesson, a lesson to ‘cure the lean purse’.

The book gives the reader seven cures to anyone who wishes to improve their financial position, and also to accumulate wealth on top of that. I on purpose didn’t post the seven cures that are listed in the book, because i strongly feel that in order for one to truly get value from this book one needs to read the wisdom in the context of the book, rather than in a book review here from me.

Rating:

The book is cleverly written in a tone of a conversation between a ‘teacher’ and a ‘student’ and presents the wisdom in a very simple manner. Meaning, the book wishes to ensure the reader understands the lessons are very simple, and can be applied by anyone who wishes to make it part of their life. The wisdom is truly valuable, and deserves the high rating of 5.5/5