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Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money

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  • Posted June 2, 2009

    more from this reviewer

    No Longer a Victim

    The book addresses the current (2009) financial crisis in the US and world economy. Kiyosaki analyzes the historical actions and factors that led to this situation, and provides specific suggestions for getting out of this. Steve Forbes and Donald Trump have both written forewords for the book.

    Kiyosaki points out that this is not a how-to book, with step-by-step instructions. But the principles he presents indicate approaches, a new perspective. Kiyosaki's goal is to enable ordinary people to take charge of their financial lives.

    Most people still operated under old money rules, but the world changed in 1971. After Richard Nixon's decision in 1971 to remove the US dollar from the gold standard, US Currency has no fixed value.

    In the current climate, the government has allowed the Federal Reserve Bank to print extensive amounts of currency. This automatically makes all money less valuable. Thus money in bank accounts is losing value daily. But money being used gains value as it is invested in real assets.

    As the government prints more currency, that diminishes the value of all money through inflation. The ones who suffer are those on fixed income, like wage earners. A job makes them a victim of the rich who hire them. Kiyosaki presents alternatives.

    Kiyosaki defines five types of intelligence needed to understand the new financial system and take charge of wealth management. Underlying all these is to stop thinking poor.

    Here are his five points of financial intelligence:
    1. Making More Money. The problem of debt, living above one's means. But Kiyosaki further says wage earning is victimization. Rather, look for ways to increase your income by making your money work for you, rather than the other way around.

    2. Protecting Your Money. The highest percentage of tax is paid by wage earners. Thus look for other types of income than earned income. He presents very practical alternatives.

    3. Budgeting Your Money. A budget is a plan for "the coordination of resources and expenditures." His focus is on managing debt and understanding liabilities.
    Kiyosaki urges us to be intentional, planning what we will spend, and to create ways to get income for what we plan, not being a slave to to either a paycheck or to our uncontrolled desire for things.

    4. Leveraging Your Money. Here Kiyosaki outlines specific strategies for increasing the value of your money, saving taxes, using other peoples' money on "good debt" in assets that will produce money (like rental property). Buying a house is not investing. An "investment" is something that brings you return. Kiyosaki focuses on creating cashflow.

    5. Improving Your Financial Information. In this helpful, practical section he describes 4 approaches to wealth, related to developmental stages in human society and economies: Hunter-Gatherer, Agrarian, Industrial and Information. Knowing these contrasts can help you take understand where you are and take charge of your situation.

    3 out of 3 people found this review helpful.

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  • Posted May 2, 2009

    Must read if serious about your future.

    Very informative about increasing your financial future. Great insights into how the rules and game of money has changed.

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  • Anonymous

    Posted April 2, 2008

    Rich Dad gives again!

    Another great book of financial advice from Robert Kiyosaki. Financial IQ is even more important now than ever. As usual he gives no exact answers just lots of things to think about as you go threw your financial life. Thanks keep up the good work!!!

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