Title and author: Who took my money by Robert T. Kiyosaki
Content Synopsis:
This book is from the author of a series of popular wealth books beginning with Rich Dad, Poor Dad in 1997. The author’s goal is to teach people the fundamental principles of successful wealth creation. In this book, Kiyosaki focuses on investing.
In Part I, you ask the question “What should I invest in?” from the perspective of a number of financial viewpoints, including ranchers, tax advisors, bankers, gamblers, etc.
In addition to the insights provided by Kiyosaki, you’ll find notes by his co-author, Sharon L. Lechter, CPA. Lechter has co-authored many of Kiyosaki’s books and provides some basic financial advice to reinforce some of Kiyosaki’s broader principles.
This book contains some redundancies, but as a self-proclaimed educator, Kiyosaki would certainly argue that repetition is essential to education, and I cannot disagree. Since many readers only read a book once rather than study it over time, repetition can be a strong point.
In general, there are two main schools of thought for average investors: invest gradually and steadily over time and use the power of long-term investing to build wealth, or invest with higher risk but higher return using investment methods. more complex. Kiyosaki falls into the second group. He disparages dollar cost averaging and so-called “slow investing” and advertises “fast money.” As you might guess, this comes with some caution. People make large amounts of money quickly in various markets, but never without a higher level of risk. Kiyosaki, bragging about his personal financial failures and his bankruptcy, argues that greater risk is worth it and too much caution means too little return. In this regard, one should always carefully weigh advice from him.
Caution: None of the authors is a certified financial advisor. They do not provide independent verification of your level of investment skill or your own personal performance.
Readability/Writing Quality:
Like all of his books, this one is reasonably well written and easy to follow. It uses real-life illustrations and easy-to-understand arithmetic to demonstrate numbers.
Author’s Notes:
Robert Kiyosaki and Sharon Lechter are authors who have partnered on a series of books on investing and wealth building. His books are geared toward the novice, someone who needs to learn the basics of how wealth is created.
Release information:
who took my money by Robert T. Kiyosaki with Sharon L. Lechter, CPA. Copyright 2004 by Robert T. Kiyosaki with Sharon L. Lechter. Published by Time Warner Books.
Rating of this book
Overall Book Rating: Good
Writing style: easy to follow.
Utility: Useful as an introduction to investing.
