Why We Want You To Be Rich by Robert Kiyosaki and Donald Trump book review

Donald Trump and Robert Kiyosaki two of the best selling business authors, their advice is priceless and they certainly know what they are talking about. Robert Kiiyosaki is a millionnaire, Donald Trump is a billionnaire, however their thinking about the worlds economy and personal goals and finance are the same. They are both teachers, and therefore want to teach us, everyones abilities are different, however, everyone has the ability to do something, and what this book motivates is for people to make the most of what they have, develop it, and be smart about how they approach things.


This book had less of an impact on me as "Rich Dad, Poor Dad", but what it has done is motivated me more. This book in my opinion is a Robert Kiyosaki book, with commentary from Donald Trump the views he shares with him. In fact, that is how the book is structured, Robert Kiyosaki says his view first, and Donald Trump expands. However, it is still interesting the similiarities and differences in the views.

Some of the points in the book that made me think more:
What kind of investor are you? - Are you someone that doesn't invest at all, a passive investor (safe investor), or aggressive investor. The aggresive investor is the investor that plays to win and will do the work to achieve it.

Have fun making money - You may think to yourself, of course people will have fun making money, who wouldn't? Well, in the real world the majority of people are not having fun. If you enjoy your job you may say you're having fun making money, your wrong, you are making money for somebody else and they are paying you. The risky investor in the stock market is also not having fun, he is waiting to sell as soon as the share price drops, how many times in the news have you seen a "rich" stock broker suicide? Robert and Donald see making money as a game, they see money as a game, they enjoy it and want to get good at it. The fear of losing is what destroys someones spirit in this game. How do you erase the fear? You take control of it, look at what your scared of and understand it, then you will be in control of yourself.

Leverage - One interesting point I heard from the book is how rich people use leverage. The definition of leverage in the book is:

"the ability to do more, with less"

Robert Kiyosaki also warns that you should not use leverage unless you have the financial education or ability to use it. Robert explains the term "work hard", when people hear this they immediately think about themselves working hard, but Donald and Robert also think of other people working hard for them, this is leverage.

Borrowing money - Rich people that are financially smart borrow money to get richer, unlike the majority of people that have gotten poorer. Donald and Robert use debt as leverage, and can do so because they are smart enough. Don't get me wrong don't be negative and think you are not smart enough, you need to work hard to be smart enough, and anyone can achieve it.

Time - Make the most of your time. How many people take time to lookat their life, investments and financial situation and seriously think about improving it, furthermore, how many people actually take action and do what they are thinking. Robert explains that you can watch a movie every night or play computer games, but how is this developing yourself. Yes, you can get enjoyment and relaxation from these activities but there should be a limit. These activities would only improve your financial situation if you are for example, a film critic, actor or in the business. People need to stop wasting so much time with short term enjoyment and look to improve their future, once you've built your future you can enjoy these things much more.

Why We Want you to be Rich, in my opinion is not a revolutionary or life changing book like Rich Dad Poor Dad, or some of Donald Trump other books. I recommend this book to people who have already read other books by Robert and Donald, this book will restructure and remind yourself of what you need to do and how to organise yourself, motivation is a difficult thing to follow up with as it can wither and fade so easiliy.

Rich Dad, Poor Dad by Robert Kiyosaki Book review

Robert Kiyosaki's best selling book Rich Dad, Poor Dad has been read by millions worldwide. If you haven't read this book then your missing out. Robert Kiyosaki had a rich dad and a poor dad, the poor dad had a stable job but didn't manage money well and therefore was poor, the rich dad built an empire and managed his money like a rich person even though at the start he was poor. He teaches about financial intelligence. What's financial intelligence? Financial intelligence is knowing how to make money, how to money can make money. Here's some of the key points in the book:

Acquire assets, reduce liabilities
One of the main points in the book that made a lot of sense to me is to acquire assets and reduce liabilities. This seems like a simple idea that a lot of people try to do, but Kiyosaki explains that there are millions of people doing it wrong! Your house and car is not a asset, if you have a mortgage it eats away at your money. Assets are things that make you money such as stocks, real estate that you acquire to sell on for a profit, or a business that you own.

Cash Flow
Robert Kiyosaki designed a simple diagram of the cashflow of a poor person, middle class person, and the rich. The poor and middle class's money comes in and out. The rich circulate their money to make more money.

Wealth
Some of the "middle class " consider themselves wealthy due to the fact they they have a nice car, house and are enjoying the luxuries in life. But Robert Kiyosaki thinks differently, he measures true wealth from how long you can survive if you lose your job or retire. Robert Kiyosaki retired in his mid 30's, cause he felt like had enough wealth and could continue his lifestyle with what his assets were giving him, and decided to work only when he needed more money or felt like it, when he said work, that just meant actually doing something to make money, not getting a job and working for someone else. Wealth is measured by the ability to be financially independent without doing much work, he explains how this is possible through his asset/liabilities ideas.

This book is not a get rich quick scam, this book is just a guidance on the basics of how to think about money.