2 April 2011

Unfair Advantage - Robert Kiyosaki [Review] Pt 2

Unfair Advantage: The Power of Financial EducationThis is the full review of Unfair advantage. When I began reading this book I felt that is was slightly slow on the jump off, with many ideas repeated from his previous works and so I didn’t believe that I was going to get much out of it as a result. Ideas such as your home [residence] not being an asset are ideals that Kiyosaki fans are all familiar with as 
well as the idea of saving money in a traditional bank being old and obsolete etc. As the book continues however, it becomes a lot more meaty in terms of giving information about various types of investments and how they work e.g. [stocks and how to reduce risk by increasing control]

What is new about the style of the book is the fact that Robert calls upon the experience of his advisors and uses their expertise and own words to answer certain questions which involve various areas of finance such as taxes and stocks, for example. These questions appear to be the answers to those that he has been asked most frequently. After he has provided a short answer, he provides greater detail to elaborate.

The structure of the book covers five main areas and why he believes that increasing your knowledge in these subjects gives you an ‘unfair advantage’ against the competition. They are Knowledge, Taxes, Debt, Risk and Compensation. Some of the key lessons which may have been mentioned briefly in his works were emphasized with greater force in this book; ideas such as the fact that holding commodities such as gold and silver simply because they appear to be going up in value is like investing in a ticking timebomb. It may be correct that this is happening in the market, but education is needed in order to know when to invest and also when to get out.

So how does Robert recommend you get rich; by enjoying the finer things of life as a result of investing your money in the right column.  He also stresses the importance of increasing your education by doing things such as reading books and attending seminars.  I also LOVE his information on how learning compounds in chapter 5.

In closing, if you are a fan of Robert Kiyosaki’s previous work, the beginning of the book may not offer much in the way of new information, as you continue on however, some important lessons are touched upon and stressed as mandatory things you can do to increase you wealth. The new style is also quite refreshing and a break away from his old style. Whilst I don’t think this work is as important as ‘Increase Your Financial IQ’ or ‘Cashflow Quadrant’ it is still a very good book that gives you a few things to think about, and ideas and information are definitely the spice of life. Pick up your copy here.  

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