GTE Rating: 10/10
(GTE rating or Get the Edge rating is Brock’s version of getting the edge. How great is the material? How new is the material? Is it new or repurposed from others? Will it give you the edge over others and catapult you towards success?)
Wow! Robert Kiyosaki in “Increase Your Financial IQ” absolutely SMASHED it! Robert is the real McCoy. As a man who’s actually been there and done that. He’s acquired a public net worth of 80 million and really demonstrates how much he knows on the topic of money. The book is about his “five financial IQs of money” which include, making more money, protecting your money, budgeting your money, leveraging your money, and improving your financial information. A person could be great at one of them but is left vulnerable if not talented in all 5 forms of money. Robert speaks about money differently than the mainstream. He believes banks lie when they tell us “a house is an asset” and “investing in mutual funds is the best bet” because they want your money. Much of his book is about changing the paradigm in which you’re in regarding money. His goal is to help you understand how to make money work for you, rather you for it. Robert used this book to further the information he went over in “Rich Dad Poor Dad” the #1 personal finance book in history per gross sales. I’d recommend this book to anyone who’s ready to level up!
Top 3 Takeaways:
My first takeaway from Robert’s book is that the rich buy and build assets they don’t work for money. He goes on to explain rich folk buy and/or build businesses and real estate that cash flow allowing them to make tons of money over time. Most of us believe the right thing to do is get a job, invest in mutual funds, buy a house, etc but Robert has a thing or two to say about that! He believes in investing in yourself through increasing financial education so that you can take ahold of this area of your life!
My second takeaway is that people think they know a lot about money, but they do not. In my personal experience anytime I learn more about a subject the more I realize I don’t know! That’s how Robert will make you feel in this read. He dives in on how “leverage = risk” is not necessarily true because of factors like control. There are financial instruments to help “control” investments before taking a risk like “options” that minimize said risk until a deal is vetting and considered to be solid.
My last takeaway is that financial education never ends! As Robert guides you into a new paradigm about money, you’ll realize you have much to learn and there’s so much out there to experience! CANI or constant and never-ending improvement in this facet of your life is important and Robert hits home making the reader understand this is just the beginning of furthering education on finances.
Most profound quote/excerpt:
“Many of the poor and middle class work for the rich and then fail to solve their money problems at home. Instead of looking at financial problems at opportunities to get smarter, they go home, sit in a lawn chair, have a drink, put a steak on the grill, and watch TV.” Wow – so true! While most are looking to bitch about their problems look to GTE (get the edge) by solving your financial problems one by one until you increase your financial IQ!
Who should read this book?
Anybody looking to take their financial lives to the next level should listen to or read this book. Well actually… anyone looking to improve their lives overall should read this book. Lets wake-up to the topic about money and acknowledge that money surpluses or shortages affect our lives in a big way!
This book is not for someone who is closed-minded about money because the topics will make them cringe! Knowing they had been doing things wrong up to now would definitely upset someone unwilling to change!