As promised, here’s my review of Rich Dad’s Increase Your Financial IQ by Robert Kiyosaki. It’s a great companion piece to Larry Winget’s You’re Broke Because You Want to Be.
I have to admit up front that I’m a big Rich Dad, Poor Dad fan. Kiyosaki’s basic overall premise is that it’s better to live off of income from assets than income from a paycheck. You get to keep more of your money (lower tax rate on capital gains vs. income tax, and more write offs), plus your income doesn’t depend on the number of hours you’re willing to work. At some point, we are all going to have to stop going into the office. Kiyosaki just wants you to be able to stop working long days sooner rather than later! It’s better to prepare and choose your office retirement, than have someone else choose the day for you.
In this audio tape, Kiyosaki assumes you know his basic premise, though he does repeat some of his history. He defines “Financial IQ” as the measurement of your financial intelligence — in other words, how much of your money you learn to keep. Here are his “Five Financial IQs” or five ways to increase the measure of your financial intelligence — aka “the cash in your pocket.”
This is another set of CDs (3 for about 6 hours of total time) that I play over and over. Each time I learn something new…and no, I don’t miss the Pop 10 hits on the radio…though I do take time 1-4p to listen to Dave Ramsey, and the occasional tune in to NPR.