Not a bad start in investing education

books:


	• Why We Want You to be Rich: Two Men - One Message Donald J. Trump, Robert T. Kiyosaki Rich Press, 2006 - 320 pages average customer review:based on 207 reviews view larger image
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Not a bad start in investing education

I will preface this by saying that I have never read any of the Rich Dad books or any of Donald Trump's books.

Let's start with what's good about this book. First, notice the word "why" in the title, not "how". Kiyosaki stresses that there is no magic formula for wealth. Rather, large portions of the book explain some of the critical financial crises that have arisen (shrinking middle class, rising cost of energy, social security's demise, etc. etc.); Kiyosake makes the argument that these events are inevitable and rather than trying to live in denial or attempting to change the things already set in motion, he advises to adapt and create financial advantages. It's actually refreshing to read this style. I'm used to reading about the evils of globalization or the rise of the corporation. Rather than bemoan these events, we should accept them as realities.

Kiyosaki then moves on to explain some of his wealth building strategies. This is all viewed from a very high level. I felt frustrated at some points because the book seems to gloat about how easy it is to begin investing, yet never really gives you any tutorial-style advice. It does, however, frequently point you to other books written by Kiyosake.

You can boil the entire 300+ page book down into three points: 1.) Increase your financial IQ (e.g. learn about investing), 2.) Real estate is a good bet and 3.) work hard, stay positive, be self-motivated, etc. The book has no shortage on quips and blurbs about motivation. If anything, I closed the back cover feeling motivated to be responsible about my personal finances.

I haven't mentioned Donald Trump yet. His writing contributions are not nearly as strong as Kiyosaki's and feel like mere footnotes of motivational quips. He rarely offers anything new or disagrees with Kiyosaki's points.

So instead of answering some of the basic questions about wealth, it presents the reader with new ones. This isn't necessarily a bad thing. It's a good first step in the right direction to learn about investing.

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reviews: page 1, 2, 3, 4, 5, 6, 7, 8, 9, 10

Get a behind-the-scenes peek at Why We Want You to Be Rich in this video interview with Donald Trump and Robert Kiyosaki. They pair talk about their very different backgrounds, their mutual admiration for one another,and how they came up with the idea to write Why We Want You to Be Rich together.

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