I just finished reading Rich Dad, Poor Dad by Robert Kiyosaki. It isn’t a new book on finance but one that I’ve heard referenced many times by finance gurus. Some people really like it and others can’t stand it. Even though Mr. Kiyosaki’s thoughts are not particularly radical, they are more risky than many people would care to stomach. He pushes concepts and wants you the reader to pick up on why he does something but I know that some people get hung up on his examples of how he did it.
He might be discussing how he used real estate to make a lot of money in a short amount of time. His point is to make sure that you make your money on the front end of the deal. Maybe it is with a guaranteed buyer after you buy or paying less than market value. Some people will take this message to heart and apply it to various forms of investing. Others will just be mad that he used real estate for his example claiming that money can’t be made in real estate any more.
I found the quote from the book below to ring particularly true. I have worked with folks that were less talented, less intelligent or less experienced before. If they managed to get the better end of the deal it was usually because they were good negotiators. I’m not talking about salaries as much as negotiating choice projects and work load. It usually boils down to how you defend your position and workload in the big meetings that determines what your to-do list is going to look like.
The most important specialized skills are sales and understanding marketing. It is the ability to sell – therefore, to communicate to another human being, be it a customer, employee, boss, spouse or child – that is the base skill of personal success. It is communication skills such as writing, speaking and negotiating that are crucial to a life of success.
Reading through section three of chapter eight, which is entitled “Laziness”, is worth your time. I can’t quote the entire thing here but know that there is a part (or parts in my case) that will almost certainly apply to you.
Overall the principles are sound and good to know. The particular way he invests is too risky for my taste. His writing style is inspiring and I’m sure stirs many people to action. Overall, it is a good and worthwhile read, but it does not make my list of top recommended reading (on the right side of this website).