Summary of Robert T. Kiyosaki's Unfair Advantage

Everest Media

Description

Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 Financial education allows you to make more money with less risk, and it also allows you to pay less in taxes. However, you can’t follow traditional financial advice or invest in traditional investments.
#2 In 2007, the world woke up to the word subprime. These were mortgages given to people with poor credit who could not afford to pay them back. In 2008, the Lehman Brothers investment bank went bankrupt, and in 2011, Merrill Lynch was re-established and promoted to rebuild your assets.
#3 The California Public Employees’ Retirement System, CalPERS, is the most corrupt and inefficient public pension fund in the United States. It has a reputation for losing more money than all the others combined.
#4 The question that arises is this: if these experts are so smart, why is the world in such a financial crisis.

Sujets

• General
• Business
• Economics
• General officer
• Personal Finance

Informations

• Publié par: Everest Media LLC
• Date de parution: 03 mai 2022
• Nombre de lectures: 1
• EAN13: 9781669397540
• Langue: English
• Poids de l'ouvrage: 1 Mo

Extrait

Insights on Robert T. Kiyosaki's Unfair Advantage
Contents Insights from Chapter 1 Insights from Chapter 2 Insights from Chapter 3 Insights from Chapter 4 Insights from Chapter 5
Insights from Chapter 1

#1

Financial education allows you to make more money with less risk, and it also allows you to pay less in taxes. However, you can’t follow traditional financial advice or invest in traditional investments.

#2

In 2007, the world woke up to the word subprime. These were mortgages given to people with poor credit who could not afford to pay them back. In 2008, the Lehman Brothers investment bank went bankrupt, and in 2011, Merrill Lynch was re-established and promoted to rebuild your assets.

#3

The California Public Employees’ Retirement System, CalPERS, is the most corrupt and inefficient public pension fund in the United States. It has a reputation for losing more money than all the others combined.

#4

The question that arises is this: if these experts are so smart, why is the world in such a financial crisis.

#5

The difference between education and training is that education is about understanding and training is about doing. While well-trained pilots can fly helicopters, they are not well-educated pilots.

#6

The term Pavlov’s dog is used to describe someone who simply reacts to a situation automatically instead of using critical thinking. Modern advertising uses this technique extensively.

#7

Financial education is not about sending your money to complete strangers. It is about understanding the true causes of the financial crisis, and how it can be avoided in the future.

#8

The term Ponzi scheme is named after Charles Ponzi, who was considered one of the greatest swindlers of all time. A Ponzi scheme is an investment fraud where early investors are paid with money coming in from new investors who are generally lured in with the promise of high returns.

#9

The game of Monopoly has a formula that can be used by the rich: four green houses turn into one red hotel. The rich understand that education is key to their plan for wealth.

#10

Kim and I were able to apply what we learned immediately. We took classes on advertising, gold, options trading, writing sales letters, foreign-exchange trading, creative financing, foreclosures, and asset protection.

#11

In 1989, I told Kim that we should start investing. We were turned down many times by bankers who did not understand why we wanted to be investors in such a poor economy. But Kim kept studying, taking classes, and reading books, and she achieved her goal of buying two houses per year for ten years, for a total of 20 houses.

#12

I have had a lot of success in my career. I have been able to teach the lessons my rich dad taught me, and millions of people have benefited from them.

#13

I continued to focus on businesses, commercial buildings, oil wells, and my gold and silver mines. I was prepared as deals began to float to the surface. By 2010, I had nearly 3,000 rental units and was extremely wealthy.

#14

I decided to write this book about real-life investments because I believe it is uncool to know something and not share it with others. I write this book to encourage people to learn, study, practice, and possibly see the world differently.