There's a lot to say about this book, both positive and negative. It had some great ideas in it, some which are possibly quite revelatory for some peo...moreThere's a lot to say about this book, both positive and negative. It had some great ideas in it, some which are possibly quite revelatory for some people, and some really useful information which I would love to ensure certain people I know read. However, it was also a very dry read, somewhat repetitive and dwelled on some things I didn't think were all that fascinating (like what sorts of cars millionaires drive). It also had a lot of charts, which is fun from a stats perspective and lends credibility, but it's a bit too much irrelevant info to take in.
I honestly didn't care what sort of ancestry millionaires had or what cars they drove, but I saw that the authors were doing the Mythbusters thing and making sure people didn't believe in completely false things.
I felt they spent an incredible amount of this book talking about what happens to the kids of the rich. However, this can be used as a great parental tool to ensure parents teach their kids the right money tactics, whether starting rich or not. It also ends with sensible career ideas to suggest to kids (which make a lot of sense with the reasoning).
In essence, the lessons from the book are to remain frugal, save money and to ensure you keep your money wherever possible. Employ good financial and legal help to ensure you save on taxes, invest wisely and whatnot.
Anyway, if you're frugal and live below your means you're on the right path. Then increase your income without changing your habits and be sure to invest the rest well and you'll be fine.(less)
Too many typos, misused words, grammatical errors and all the rest made reading this book really distracting.
Also, the book is basically just a rant...moreToo many typos, misused words, grammatical errors and all the rest made reading this book really distracting.
Also, the book is basically just a rant about how the author pulled himself up from poverty and therefore you can too. He throws in a few other inspirational leaders and success stories and that's about it.
Throughout the work, there's a running theme of having to work for what you get and that you should feel free to think big.
It's good advice, but could have been done better by using just a few inspirational quotes. (less)
This book has been taunting me, seemingly mocking me with advice about mingling that I would never know if I didn't pick it up. So, today I did pick i...moreThis book has been taunting me, seemingly mocking me with advice about mingling that I would never know if I didn't pick it up. So, today I did pick it up. I now know that I'd never recommend anyone read this book.
For starters, she treats the readers as if they are shy to the point of excruciating pain, while she herself is a mingling goddess. She follows that by insulting all the nerds and geeks of the world by suggesting aspiring minglers practise on the nerds, since then you won't mind if you screw up. Lovely.
This has already got me thinking she considers herself above most other people and beyond reproach.
Then our charming guide proceeds to promote the practise of lying one's way in and out of every single conversation one attempts over the course of a party. It also seems that the instant she's faced with an actual conversation she's looking for a way out. It's really rather vulgar.
I can understand that in order to mingle successfully one does have to talk with a variety of people. But if all these conversations revolve around lies and excuses, what's the point?
All the people I admire as great socialisers are actually charming, interesting, interested and sociable. They mingle well because they are genuinely interested in having a great conversation and will do their best to make everyone feel welcome within it. If they mingle strategically, it's only in the way a host would. That is, they greet people and introduce them to other people continuously.
Basically, I agree with very little in this book. Much of her advice on what to avoid talking about at parties is sound, however her advice on what TO talk about is pretty awful.
I also agree that it's unwise to get yourself anywhere near comfy couches if you're looking to mingle. I agree that if you do want to mingle you may need to extricate yourself from conversations at times - even if you're enjoying it. But, I can't condone lies and silly games to get yourself in or out of conversations. And if I see anyone using any of these tactics at a party I'll be quite disgusted with them.
EDIT: I was talking to my husband about this book after writing this review and he summarised it perfectly: It's as if an autistic person wrote a book about mingling, describing what they saw happening, but without understanding the subtle human interactions that were actually going on in front of them. (less)
This was a really great historical run-through of how risk assessments and probabilities came to be calculated. Bernstein takes us on a very interesti...moreThis was a really great historical run-through of how risk assessments and probabilities came to be calculated. Bernstein takes us on a very interesting tour through the great minds of many eras and how they approached the problem of risk. It's a fascinating read, obviously written by someone with a clear passion for the subject, taking you on a historical journey of risk.
Some parts of this are a little new-agey, asking you to take note of the resonance of things when they could just say something simple like "If you ha...moreSome parts of this are a little new-agey, asking you to take note of the resonance of things when they could just say something simple like "If you hang around people who don't have faith in you, you probably won't believe you can do it either" and "If you clearly visualise your goals they will be more easily attained".
There's not a lot different from the original Think and Grow Rich. He's added a few nice pictures and overall formatting, a few up-to-date paragraphs,...moreThere's not a lot different from the original Think and Grow Rich. He's added a few nice pictures and overall formatting, a few up-to-date paragraphs, but not a huge amount else. Sadly, not a lot of effort went in to editing the formatting in the original text, so there's a lot of tabs where spaces should be and other silly things.
I thought this book was great! Along with being a very pleasant read it had many valuable financial lessons to teach us. I’ll quickly go through some...moreI thought this book was great! Along with being a very pleasant read it had many valuable financial lessons to teach us. I’ll quickly go through some of the very important points.
We really don’t get taught anything about financial management in school. I’m shocked at how many of my friends know nothing about how their credit card works, let alone how to use simple accounting to correctly assess their financial position. We need to have financial literacy to survive.
The book explores the types of financial management lessons the rich teach their children. These are the lessons that the poor and middle class miss out on. They are simple and basically revolve around learning as much as possible so that you can make educated decisions about money. Most importantly, this book gives you some basic ideas of things you will need to learn more about.. so you’re not just learning useless facts and you are in fact learning the right things to become financially literate.
A most important thing to learn from this book is that you don’t get rich working for money. Wages will only keep you just above broke. Seriously, how many times do we have to be told this before we believe it enough to change our lives? Get out of the rat race!
“Most people never see the trap they are in.” — Robert T Kiyosaki
Most people work because they are afraid of not having money or they desire things that they think will make them happy. Then they are stuck working for fear of losing that income. They want security. The aim is to not let money run your life. Curb your desires and don’t be afraid of having nothing. Beware of the hole in your pocket. Don’t let your emotions rule your decision making. Think with your head!
“With each dollar bill that enters your hand, you and only you have the power to determine your destiny. Spend it foolishly, you choose to be poor. Spend it on liabilities, you choose to be middle class. Invest it in your mind and learn how to acquire assets and you will be choosing wealth as your goal and future. The choice is yours and only yours. Every day with every dollar, you choose to be rich, poor or middle class.” — Robert T Kiyosaki
Learn to correctly identify assets and then buy assets. For most people, a home is a liability not an asset. Assets put money back into your pocket. Make every dollar you get work for you. Invest it. Then it will come back as more income. Easy!
“Build and keep your asset column strong. Once a dollar goes into it, never let it come out. Think of it this way, once a dollar goes into your asset column, it becomes your employee. ” — Robert T Kiyosaki
Always make sure you pay yourself first - and that means assets, not splurging! If you invest your money wisely it will create the income you need to pay the bills later. Plus, it will scare you into making your brain think about how to create some more money in the meantime. Forbid the words “I can’t afford it” and replace them with “How can I afford it?”. You’ll turn your brain on and force it to come up with a solution.
Learn legal ways to avoid paying so much in taxes. Protect your investments through corporations. Corporations pay less in tax than the highest income brackets. Now, due to the tiering structure in Australia you’d have to be earning quite a bit before a flat 30% tax rate was less expensive than your tiered rate. But the point is to LEARN. Find out about taxes and legal ways to minimise them. Talk to an accountant about your current situation. Hire intelligent people to help you.
Don’t just do what everyone else does. Educate yourself and then take educated risks! You’ll get better at it every time you try it.
“Sometimes you win and sometimes you learn.” — Robert T Kiyosaki
Ensure you have enough money not tied up to be able to take advantage of good opportunities. Just like when you are playing Monopoly, you need to ensure you have sufficient cash to buy properties in auction or you could miss a bargain.
Young people should develop investment portfolios before deciding to own a house. The benefits of the extra years on the portfolio are phenomenal. What are the best types of assets? Things that make money by themselves: Businesses that don’t require your presence, managed funds, stocks, bonds, royalties and income-generating real estate.
“Money is only an idea. If you want more money simply change your thinking” — Robert T Kiyosaki
To start off with, most people need to earn a wage to get their initial funds for investing. This doesn’t have to lead to a career. Choose jobs according to what you will learn from them. Groom yourself as a CEO would groom an young, rising star. Learn a little bit about everything and try not to over-specialise. Specialisation is a risk in itself. What happens if that profession becomes redundant? Where will you be then?
Get over your fear, cynicism, laziness, bad habits and arrogance. Fear of losing, rejection, lack of money. We learn by making mistakes. Make some! If what you’re currently doing isn’t working you have to change it. Stop being a cynic and ask wealthy people you know how they did it. Find role models. Read books. Look for new ideas. Go to seminars. Learn! Beat laziness by asking yourself “What’s in it for me?”. Get off your butt and do something about your situation. Now!
“A person needs to sit down and ask, ‘What’s in it for me if I’m healthy, sexy and good looking?’ Or ‘What would my life be like if I never had to work again’ Or ‘What would I do if I had all the money I needed?’. Without a little greed, the desire to have something better, progress is not made.” — Robert T Kiyosaki
To receive you must give. Give generously. Teach others what you know as you will learn more also. Help others to have what you want as you will gain also. Give money to charity. Smile at people. Help others gain contacts and sales. What you give will come back.
- Curb your desires and get rid of the hole in your pocket - Make every dollar work for you - Always think "How can I afford it?" - Change what you're doing to something that works - Learn about finance, accounting and taxes - Learn about business communication, sales, advertising and PR - Learn about management: cash flow, systems, personal time management and people - Get over your fear of rejection and fear of failure - Work with people smarter than you are - Work to learn - Give generously - Learn about investment options - Learn about how to raise money to finance good opportunities - Keep your finances ready to take advantage of a great deal - Always keep your eye out for good investment opportunities - Make offers - TAKE ACTION!!
“Action always beats inaction.” — Robert T Kiyosaki