Why The Rich Are Getting Richer – What is Financial Education Really? by Robert Kiyosaki


I read the book Why The Rich are Getting Richer by Robert Kiyosaki and enjoyed certain aspects of it and have extracted the following main learning points from the book

  • attend seminars for example like Dale Carnegie or a course in tax and real estate to enhance your financial education – do not rely on the school system
  • play the Monopoly game as by doing things you learn quicker and Monopoly teaches you to work passive and portfolio income
  • focus on building your asset side of your balance sheet which will generate income
  • get an understanding of taxes or get a professional person who is versed in tax to advise you
  • there is a good series of videos to enhance your financial education at richdad.com/RDTV
  • monitoring your financial statements is important ie looking at you income statement and balance sheet

The points I am going to be teaching my kids is to explain the advantages and disadvantages of the different cash flow quadrants ie E (Employee),S (Self employed),B (Business Owner) and I (Investor) and in addition will be playing some games of Monopoly and Cash Flow game with them