I have always wondered why middle class people (including my mom and dad) never grow rich however hard they work and howmuchever they save. I have never seen my parents take an auto (even during national bandhs) or even go to a movie in a theatre. They have been saving thus for 26 years now.They do not take leave from office inspite of being ill(and inspite of not getting any bus during the bandhs like I have mentioned already)-- so that they can
encash those leaves.
After all this, they could come into the upper middle class from poverty. And if you count all the money my education is gobbling up, they are still in the average middle class. 26 solid years of hardwork and sacrifice could help only to this extent.
As I grew up, I started to get some faint understanding of what the reasons behind this could be.
''Alas! there is no such thing as the poor, the middle class and the rich. There's only the poor and the rich- you either get everything or nothing! Middle class is a mirage created so that we pay all our money to the government as taxes and lose the remaining by some other means-trying to save, save and save.''
With this,I could get something building inside me, but never could I express or analyze what it was properly. Like for every ''good boy'', plans were made for me to make a decent job in my campus interviews and then start saving in a bank account. I was having strong feelings opposing this, but never dared to say this to my parents as I did not know how to support myself. It was then that I came across this book ''Rich Dad, Poor Dad.''
As I read on, I started identifying myself with the situation (infact,
scores of people will!) The book was giving solid shape and support to all my thoughts. A compact dimension was being created for my ideas.
As soon as I finished the book, I started delivering talks on it and on another book I happened to read at the same time titled ''Your Erroneous Zones.'' People started running way from me! I even gave a lecture to my illiterate grandpa. You should have been there to notice the look on his face-- '' What's happening to this kid! Why is he talking against the flow??''
So if you are going to read these books and incorporate these ideals, be mentally ready for those ''good people'' out there. (my next review will be on ''Erroneous Zones!''. If u like this, check that out too.)
In this review of mine, I am going to explore only those areas which my friends have not covered in this section. These 'mouthshut.com'ers never leave much for me to say. Where ever I go, I find exceptional reviews already written. Still, let me try my best. I want my reviews to be the best always. Tell me after reading this if I have achieved it.
This book is basically by two authors-''Robert.T.Kiyosaki'' and ''Sharon Lechter.'' It is completely out of step with all the other self-help books.
It talks adeptly 'bout why the rich get richer and the poor get poorer. It emphasizes on how we work our butts off for a company to make it rich and how we are robbed off in the name of taxes even before we get to see the pay check unlike the rich who escape this by reinvesting their income and by some smart financial knowledge.
The book points out that the rich teach their children the very much necessary financial aspects of life right from their childhood and that these are not taught to the poor and the middle class till they take up some specialization course in financial management (& how many do that???) All these are furthur supported by incidents and anecdotes from the author's life at every phase of the book.
The great economic depression in the US is also talked about. The authors talk about how it left many tycoons reeling under pressure--'coz they were not taught the basics of financial management in their schools at this juncture.
So, he asks us to invest without hesitation in workshops and seminars.He says that these are worth it even if they are costly. And he urges us not to do
something just because it's with the flow.
The book talks about how the poor and the middle class, very unlike the rich, misunderstand what real assets and liabilities are! It follows this
up with some easy to understand pictures.
Kiyosaki talks about how specialization makes us ''docile cows ready for milking''- for the corporate giants. ''So'' he says, ''One should have a knowledge of everything.Only the Jack of all trades can become rich and financially independent.''
The book doesn't make us rich overnight,but, plants that attitude of ''get rich!'' in our minds very strongly. It tells us ''to first earn and then spend the money only after reinvesting and paying the bills.'' This is what the rich do. What we, the poor and the middle class do is first, pay the taxes, save some and spend it on vehicles and houses (thinking they are assets whereas they really are liabilities-read the book to understand this perfectly) right from the day of the first pay-check.
Even ordinary employees can incorporate this attitude. Unlike what many think will happen, this attitude only makes the employees work harder than ever to get enough money to satisfy all the needs and to invest. The author asks us to continue with our jobs to be on the safe side. ''But'' he says, ''invest the money from the pay-check properly. Not in banks; in shares and stuff like that, value of which increase ten-fold.'' Yes, there is a risk in this, but, who gets rich without taking the risk????? ''Start doing this when young so that even if you go broke, you have time to start all over again. Without this dare and risk, do not dream.''
The book further says that every rupee invested is an honest employee in our corporation which works 24 hrs a day, seven days a week and 365 days an year. All these are explained as the author's experiences with and from his rich namesake father and his poor, but very well educated, real father. How differently the rich dad and the poor educated father think, implement and teach their kids- resulting in their present fortunes- is elaborated on with flamboyance.
Yet, there are some minor drawbacks in the book. It's very good. But, the narration is not compact. All the matter is actually gathered from the personal dairies of Robert Kiyosaki and then compiled. This reflects clearly in the way the book is written. Claiming that he'll show us the path to financial freedom, the author talks about how he made money with some smart thinking in real estate. Every one might not be comfortable with this particular part of the book.
Back to the good, there are excellent sequels of this book. They are ''The cash flow Quadrant'' and ''What the rich teach their kids that the poor do not.'' There is even this game ''the cashflow quadrant'' which makes us realize that we are ''stuck in a rat race from which we cannot come out-- the harder we try, the deeper we sink!''
That's it from me on this. Know the rest for urselves
Wish you only the best in life!
