Robert T. Kiyosaki is the author of the bestseller Rich Dad Poor Dad. I actually didn’t read this other book, so my knowledge about Mr. Kiyosaki’s work is limited. That said, I can say that I enjoyed his book Why "A" Students Work for "C" Students published in April 2013.
From the author’s own acknowledgement, he admits that this is the most important book he has ever written. It took him two years to write and had a total of four complete rewrite. After reading the whole book, I can say that I understand why. This book is all about education, not just your kid’s education, but yours as well. It’s a book about redefining what is the basis of education and why you should not put all your expectation on the school system.
This book has four parts, but I would say that the main two and largest ones are: Financial Education and Financial Intelligence.
In the first part of the book, you learn about how the educational system is flawed in terms of financial education. It allows you to understand concepts like the difference between the managerial capitalists (aka "A" students like CEO) and true capitalists (aka "C" students like entrepreneurs). It makes you wonder if schools are really preparing your child for the real world.
In part two of the book, it goes a little deeper for you to grasp what is a financial intelligence. It shows that the idea of right vs. wrong as taught in schools is unintelligent. Instead, it’s the ability to hold opposed ideas at the same time and use them to your advantage. For example, how can you use taxes and debt to your advantage, when most people see them as a bad thing. You learn that in fact the rich use them to become richer.
Throughout the book, the author mentions many of his own stories to state his points. This makes the book even more interesting and helps you understand a little better how the author was able to retire at the age of 47. Each chapter also ends with "Action Step for Parents" where the author suggests ideas to discuss and explore with your child. This makes it a very interesting book if your child is in age of understanding the concepts of money.
This book will not appeal to everyone. In fact, the author was criticized many times for his concepts. The concept of "Entitlement Mentality" where people like elected officials and public servants believe that the government owes them a living. The concept that your home is not an asset. The concept that the rich is generous because he is creating jobs and housing for others. The concept that home is a child’s most important place of learning.
For an entrepreneur like myself, this book was an eye opener on many topics. Many things I did as a child (like playing Monopoly) and my decisions today are related, but I never truly saw a link until after reading this book. It helped me think different and think better about assets, liabilities, taxes, debt and investments. If you want to educate your child about these subjects early on, this book will help you.
The author did a great job at simplifying complex subjects so that most reader can easily understand. In fact, my main critic about this book would be that too often I would have wanted the author to go deeper in the subjects and give more "tricks" on how to apply his teaching. Another critic is that this 400-pages book often has text repetitions and the structure of the book doesn’t feel well defined.
Overall, this book is definitely worth a read even if you don’t have a child because it shows you ways to think differently on how to become financially independent.
My rating: 8.5/10