You must have come across a quote “A good book can change your life”. This is the book which has brought a lot of change in me and I am sure it will also change the way you think about money and investment.
You must have read many books of physics, chemistry, social studies, electronics engineering, mechanical engineering etc but those books are for your professional skills and to qualify school and college examinations.
This book will help you to develop a financial skill which will help you to understand about money and investment which will help you in becoming rich.
I am writing a review of this book just because I have read this book and found it very useful. This is the first business book that I have read.
This book is known as the #1 personal finance book of all time. The author of this book Robert Kiyosaki is known as the best financial educator of the world.
I have read this book just because he has achieved results from the principles stated in the book. He is a multimillionaire.
This book will completely change your mindset about money. You will also get the answer to some of the questions like why the rich are getting richer? How you can get rich keeping your day job? What is financial freedom? What separates the rich from the poor? etc.
It is not only the money that makes the rich even richer but it is also the mindset. Mindest plays a major role in becoming rich.
Robert Kiyosaki’s one of the most controversial lesson is “Your house is not an asset”. In 1997, many publishers rejected to publish his book criticising about this lesson but in 2008 Real Estate market crash all the people got a lesson that their house is not an asset and find the truth in the lessons of this book.
Some of the most important lessons you will get from this book are:
1. The rich don’t work for money.
Yes, you heard it right. The poor and the middle-class work for money. The rich have their money work for them.
This lesson completely blew my mind. I came to know about assets. An asset is something which puts money in your pocket even if you stop working.
So many people say, “Oh I’m not interested in money”. Yet they’ll work at a job for more than eight hours a day.
If your pattern is to spend everything you get, most likely an increase in cash will just increase spending.
Rich buy assets first and the cash flow from the assets buy their luxuries but the middle-class buy luxuries first.
2. Financial Literacy
Finance is the study of money and money comes to those who understand the language of money and hence financial literacy is a must.
If you will train your brain to understand money then it will see opportunities to make great investments.
-The rich buy assets.
-The poor only have expenses.
-The middle class buy liabilities they think are assets.
Many people struggle financially not because they don’t have enough money but because they do not handle it wisely. They do not focus on cash flow. It is because of financial illiteracy and not understanding the difference between an asset and a liability.
Wealth is a person’s ability to survive so many numbers of days forward- or, if you stopped working today, how long could you survive?
Financial literacy will help you achieve financial freedom. Financial freedom is real freedom. You can your life to the fullest if you achieve financial freedom and it can be achieved by proper financial management.
3. You will develop an investing mindset.
This is a must-read book for developing an investing mindset.
Rich people receive 70% of their income from investments. You need to save and invest to become rich.
Investing is the science of “money making money”. In investing you are putting your money to work. The best thing about money is that it works 24 hours a day and can work for generations consistently without taking any rest.
Warren Buffett has also said, “If you don’t find a way to make money while you sleep, you will work until you die”.
Every lesson in this book is very important. You must read this book before you start your investment.
Education decreases the risk involved in any investing. I am sure about one thing that you will love this book and this will change the way you think about investing.
I have just listed a few lessons in this review and the rest you should read from the book.
The best investment you can ever make is the investment in yourself. Warren Buffett reads 500 pages a day. Reading business books is one of the best habits you can develop. If you think you don’t have time then it is an excuse.
If you have made your mind to start investing in yourself and to read this book then order it today from Amazon by clicking the image below.