Amazon (English - printed book)
Another must-have book, if you're want to survive in this fast-changing world.
These are a glimpse inside the book - A simple note from me. To understand it more you gotta read the book and you never regret to have one for a guide to prepare for the financial turbulence.
Foreword from Steve Forbes - 'You don't have to be genius to take part in this process; you simply have to be ready, willing, and able to learn...Financial education isn't just numbers and spreadsheets, although they're certainly part of it. Financial education requires a solid understanding of how business and government work (or don't work as the case may be). And it's also knowing about history, humanities, and human nature, arts and science, and music and mechanics, among other things. To be whole, healthy, and well-equipped citizen requires a holistic education that focuses not just on numbers and spreadsheet but also on the soul itself. All education has value, and all education can be useful as you discover and fully develop your own God-given talents.'
Foreword from Donald J. Trump (before he's president of USA) & he and Robert also have written two books together (Midas Touch & Why We Want You To Be Rich) and will cover that book in a couple of days. Finger cross! Back to Mr.Trump foreword - 'One of the first steps to getting richer by getting smarter with your money is to take advantage of opportunities when they present themselves. Right now you are holding a great opportunity. My advice to you is to read Rich Dad's Increase Your Financial IQ and pay attention. You will be on the right path to financial freedom, and on the right path to big success. By the way, don't forget to Think Big. We'll see you in the winner's circle.'
Note's from the author 'Money is not evil...it is the lack of money that causes evil. Being greedy is evil. And committing criminal or immoral acts to get money is evil. Money is just money.
'Your house is not an asset...your house is a liability'...'This book is not about financial advice. This book is about your becoming financially smarter so you can process your own financial information and find your own path to financial nirvana. In sum, this book is about becoming richer by becoming smarter. This book is about increasing your financial IQ'
Does money make you rich? The answer is NO. Money alone cannot make you rich...Many people believe that it takes money to make a money. That is not true. Always remember that if you can lose money investing in gold (the world's only real money), you can lose money in anything. Ultimately, it is not gold, stocks, real estate, hard work, or money that make you rich - it is what you know about gold, stocks, real estate, hard work, and money that makes you rich. Ultimately your financial intelligence, your financial IQ, that makes you rich.
The author state that rich or poor, we all have money problems. The only way to get rich and increase financial intelligence is to actively solve individual money problems, by doing it will make that person smarter and increase their-own financial IQ.
As Rich Dad said, 'Answers are about the past, and abilities are about the future'
'Rich or poor, smart or not smart, we all use money'
'Money is not the most important in life, but money does affect everything that is important'
5 basic financial IQ:
#1 Making more money - In order to grow wealthy, you must come to terms with the fact that problems will never go away. Each time you find a solution to a problem, a new one will pop-up. The key is to realize that the process of solving those problems makes you rich. And once you start solving not only your problems, but other's as well, then the sky is the limit. People will pay money for you to solve their problems. A true capitalist is simply someone who recognizes a problem and creates a product or service to address that problem. You can charge a higher price if your product or service has a higher perceived value, but there needs to be added value.
#2 Protecting Your Money - Protecting your money is a very important financial intelligence. Ignorance is bliss, and that's what the financial predators are banking on-your ignorance making them blissfully rich.
Highlight:
'Rich dad labeling financial predator in the real world is - included bureaucrats, bankers, brokers, businesses, brides/beaus, brother-in-law, and barristers.'
'Taxes are an expense living in a civilized society'
'A bureaucrat's job is to get their hands deeper in your pockets - legally - and your job is to have them take as little as possible - legally.'
'...smart borrowers are the winners in new capitalism...'
'The key to success is education'
'Good brokers want to put food on both tables'
Brides and Beaus (Love predators) - 'Get a prenuptial agreement before you get married'
'....people are playing games with money and stealing it legally'
#3 Budgeting Your Money - is measured in percentages, the percentage of income that reaches your asset column. The higher percentage you direct to your asset column, the higher your financial IQ #3.
#4 Leveraging Your Money - definition of leverage is doing more with less. The good news is that the higher your financial intelligence, the more money you make without needing money.
Highlight:
'Control and leverage...by having control only can you leverage' - property management is the key of control.'
'Diversification is a protection against ignorance. Diversification is not required if a person knows what they are doing' - Warren Buffett.
'...two things investors invest for: capital gains & cashflow.'
'3 advanced leverage strategies are OPM, ROI, and IRR
#5 Improving Your Financial Information - Ultimately, it is not the asset that make you rich. Information make you rich...or poor.
Highlight:
'The most powerful asset is your brain.'
'...smart investor will invest using both opinion and facts for both cashflow and capital gains.
'Gold is priced in international market. Real estate is price in a local market.'
'Intelligent is the ability to take information and make it meaningful.'
'The trend is your friend. If you ignore it, the birds of prey will pick your bones clean.'
Financial intelligence is intelligence we use to solve our specific financial problems, and financial IQ measures or qualifies our results.
Warren Buffett said 'Accounting is the language of business.'
Change your enviroment..change your life, in other words, if a person went back to the job where the mistake was punished and creativity was suppressed than what he/she been learn was of little value. One of the reasons many people do not develop their genius is simply because they are lazy. Financially weak people are people who tend not to develop their intelligence. They seek easy environments and easy answers. Success requires some degree of mental and physical toughness. If you train it well you can create magic, develop your own genius.
Entrepreneurs have two characteristics...ignorance and courage. Courage is more important than good grades. It takes courage to discover, develop, and donate your genius to the world.
Always remember that your mind is infinite and your doubt is limiting.
Highlight:
'The rich's don't buy stock; they sell stocks. The rich create companies and then sell the company's share to investors. That is legally printing money.
Keep Connect :)