Book Review : Retire Young Retire Rich


Retire young retire rich is a 5th book in the series of Rich Dad by Robert Kiyosaki. Robert in this book shares his journey of retiring very rich at an age of just 47! He speaks about his real life experiences and struggles and how he came through without losing his motivation.

My main motive to pick up this book was to learn something new from this book. Not exactly retiring thing but getting rich thing. After reading this whole book I realized that I knew most of the points put forward in this book. Being a graduate in finance degree and currently working with futures and options I knew everything what Richard was trying to say.

So the main crux of the book is to motivate the readers to follow their dream of becoming rich by starting  their own business. Job security, according to the author is not security but the biggest risk.
I summarized few points  from the book to narrow it down to give the idea as a whole.
  •     Always remember the risks of starting a new business. Never be afraid to fail. Always keep in mind the odds of the success of business. And when you get demotivated with the failures or endless cycle of  trying always remember  WHY YOU STARTED IN THE FIRST PLACE.
  •   This book states a very important fact which very few know that a business would get more tax benefit compared to a salaried person. More tax breaks and easier access to loans are available to business and very few to salaried person.
  •  Networking is a super power in the business world. So always work on your networking skills.
  •  We are as good as our word so always try to keep your words.
  •   A GOOD TEAM is the most critical thing in the business. If you have a strong team your business would go places.

Robert also gives some strategic plan on investment portfolio. The most important thing while making an investment portfolio is the “EXIT STRATEGY”. Always be clear when you want to exit in either cases profit or loss.

To reitre rich one must get rich source of passive income. And the source of passive income is Real Estate. Robert also gives an incident when he didn’t have the money to buy a very good piece of property and how he took the advantage of Loans from bank! Loan not only provided the required money but  also tax breaks! But buying Real Estate comes with its own set of risk so you are supposed to evaluate your property properly, if caution is not taken an opportunity woukd soon turn into a disaster and a big debt.

This is my first book in Rich Dad series and this book has too many references of the earlier books which I didn’t read so it did bother me to some extent. But if you are following rich dad series from the beginning this book would definitely be an addition in your financial knowledge.
The book has so many points that are repetitive and used again and again which made me a little impatient with the book.

The book is will prove to be a good read for people currently in the process of increasing the financial knowledge by learning how to take advantages of tax breaks and loans. But wont prove much useful for people already working in finance field.

I would give this book a 3 out of 5 stars for presenting so much knowledge in one book.




Comments

Post a Comment

Popular posts from this blog

Book Review : Funny Side Up By Ruskin Bond!

Image
This is my second book by Ruskin Bond. This book is basically a collection of stories from daily happenings of Ruskin Bond. A detailed description of when he wakes up, what he does after he wakes up, his afternoon routine, his evening walks, in short about his daily routine in general. He shares his experience by transitioning from the Dehra of his childhood versus Dehra now. He talks about what he loved while growing up. There are so many characters that made an impact on his life. His little experiences which he remembers precisely even after so many years are kind of funny to read. Ruskins story of his pet and his adventures rather misadventures with uncle ken are presented as short stories in the book and are light hearted to read. There is nothing much you can find in the book. No story or biography or anything just little life experiences. Its just nothing about nothing! 2.5 stars out of 5!
Read more

Book review: Ladies coupe by Anita Nair

Image
This book revolves around a very hot topic “Feminism”. It is a story of a single woman in her 40s. Akhila has always been a good daughter, good sister, a good woman all her life. After the death of her father she becomes the man of the house. She starts earning at a small age of 19!  When her siblings come of age one by one they all get married totally forgetting about Akhila. They still try to control Akhilas life by saying she needs to take the permission of the man of the house even though she is an independent woman who has held her family together. She starts thinking is she really lonely and unhappy? Does a woman really need a man to make her life complete? Fed up of all the interferences in her life and to find all her answers she sets out on an adventure trip alone with a one way ticket to Kanyakumari. She meets 5 more women in her ladies coupe. One by one she listens to every persons story while thinking back on her own life. Life stories one coming f...
Read more

Book Review : Pralay The Great Deluge

Image
Pralay is squeal of Hrappa, the curse of blood river. The thrill of the first book continues in the second and the story is as gripping as ever, infact it gets better. 1700 BCE The Surya Devta after being tortured and skinned alive is sent to dungeons to die, returns for vengeance and the rage in him to destroy the whole of Harappa is chilling. The Gods are angrier than ever with the sins of the people of Harappa and the end is near. Manu meets a mysterious ocean man at the Black Temple, who seems to be   the most divine person on earth. This mysterious man is supposed to help Manu through “THE PRALAY”. 2017 Vidhyut betrayed and almost killed by his most trusted best friend is recovering while Vidhyuts   great grand father revels the secret of the curse of the blood line. Now the most powerful aghori of Banaras is trying to kill Vidyut because of a new world order. So what is this new world order and who is giving them? This book deals with so many Human emoti...
Read more