Rich Dad, Poor Dad 2: Cash Flow Quadrant – Rich Dad’s Guide to Financial Freedom
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Subtitled ‘Rich Dad’s Guide to Financial Freedom’, this book is about choosing new options, new directions and a new financial future.
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Rich Dad’s Increase Your Financial IQ: It’s Time to Get Smarter with Your Money
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If You Liked Rich Dad, Poor Dad, You Must Read This One!,
Repetition is the source of mastery, and The Cash Flow Quadrant takes the excellent thinking in Rich Dad, Poor Dad and builds to another level of detail. This information will increase what you learned in Rich Dad, Poor Dad and help you begin the transformation from a salaried or self-employed person into a business owner and investor.
The definitions of these four quadrants are important. As an employee, you have a job. As a self-employed person, you own a job. As a business owner you have a system (such as a franchise like McDonald’s) that produces cash flow for you and others work for you. As an investor, your money works for you. Rich people are getting more than 70 percent of their cash flow and income by having money work for them.
One of the strengths of the book is that it deals with the subtle psychological differences among people in the four different quadrants, especially on subjects like security and freedom. Kiyosaki and Lechter then do a nice job of helping you understand the difference between risky and taking risk. The latter is a good idea, when you know what you are doing, and the former is always to be avoided.
The book is not dogmatic, pointing out that good results can be reached in a variety of ways. You have to decide which ones are right for you. In general, you are encouraged to move from the employee and self-employed side for your income to the business owner and investor side. Then, take your cash flow and expand it into investments.
Another of the strengths of the book is to make it clearer what the advantages of income property are. In these Internet stock-crazed days, many are looking only to stocks and missing good commercial property opportunities.
There are lots of good questions you can use to help frame your road through the cash flow quadant. At a minimum, you will become much more financially literate. With the help of the 7 steps here for making the necessary changes, you should begin to make the transition.
The book has a nice conversational tone that turns personal economics into common sense examples and principles.
The downside of any book about changing your life is that you can read it much faster than you can master the lessons and apply them. I suggest that you schedule time to reread this book over the next 10 years. That’s the best way to check up on yourself and how you are doing.
I do recommend that you read Rich Dad, Poor Dad first. You’ll get much more out of this book if you do that. Then you’ll begin to see opportunities where others see difficulties. Good luck with fulfilling your goals!
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|Too much going over old ground,
If you like me have read the first book you might become irritated as I did with the repetition in this sequel. Consequently the reading experience wasn’t as enjoyable as Rich Dad Poor Dad 1.
There is however some useful information and new concepts in the second book so on balance it’s still worth buying.
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|A glum yet inspiring read.,
Having enjoyed Rich Dad, Poor Dad in a depressing yet inspiring way, I was anxious to read this book. I was not disappointed, although finished feeling glum yet inspired. It is a strange combination. I suppose it arises from reading about the fate of the employed and self-employed as opposed to the opportunities that beckon those who aspire to run a business or invest.
However, there are seven steps outlined to help the would-be wealthy. These are most interesting and practical. By the end of the book I started to feel a lot better, because as a result of his first book I had already made some progress. Worth reading, but be prepared for some glumness.
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|Changed my reality,
this book is a good read for people who want to start thinking big and remove the can’t do word from their dictionary. This book has given me the good insight of budget surplus even if I am in the employee quadrant of the cash flow diagram that Robert very often refers to in his books.
Robert’s way of explaining things about budgeting and thinking about money is very simple and in plain English.
I would recommend this book to anyone who has just started a business or thinking to start a business or thinking of investing in some form.
I would though give a word of caution that this book is not all that you need for your financial IQ. This will help you build your own base for your own financial IQ and then you are free to read more book(s) to increase your Financial IQ.
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|Hot tips that would enable anyone take a firm position, financially!!!,
This book really contains powerful points to help one;
increase his level of reasoning financially,equip oneself for opportunities,likewise storms of live.
Infact a tip received from this book has continued to make me money
since January.
A must read!!!
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|broaden my view of financial education,
don’t think any systematic way to receive financial educations when I was little…now is not too late to learn… very helpful!!!
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