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.




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