Friday, January 20, 2017

Friday Feature Book Review: Why we want YOU to be RICH by Donald J. Trump and Robert T. Kiyosaki あなたに金持ちになってほしい: ドナルド・ トランプ + ロバート・キヨサキ

This book was a positive surprise. I expected the typical Trump style saying how "Money is a Game, and I play to Win!" However, it was quite the opposite. It was subtle and well thought out. It was even understated. Not at all what I expected from our new US President. The main concept is that for many Americans, and others globally, very basic financial intelligence is often lacking. If the average person had better insight into how finance worked, and had a higher financial IQ, they would be able to invest with more confidence and benefit greatly. 

Donald Trump teamed up with Robert Kiyosaki best known for his own best seller "Rich Dad, Poor Dad" because of an overlap at a conference in Chicago. Both were speaking at a real estate conference there, trying to help the many there to learn how to better invest in real estate. Both were speakers and crossed paths. A spark started and as they got to know each other, a clear need to help more people learn was found to be in common. The book started from there, but continues into a lot of depth that is not expected at the beginning. It is a clear set of rules and guidelines on how to be rich by investing. A key point is to enjoy the process, and see it as a game that is fun to win.

What I could not believe was the clear style of flowing ideas about how any average person could learn to be a much better investor. It touched on how China was a huge economic story with plenty of opportunity. It also underlined India, and how the rise of both of these super economies will be worth knowing more about. Facts, clear facts were used that showed clear depth of understanding about both economies.

This book was written over 10 years ago, but certainly has a clear agenda on how the USA can be better managed politically in future. The presidential aspirations are included in many of the arguments presented. This is not another basic investing 101 course that any financial advisor could give. Things like "live below your means, save, and diversify into mutual funds etc". Not at all. It actually questions it. Why would you listen and take advice from a person who takes the subway, when you drive a Rolls Royce? How wrong is it to give great respect to a US financial advisor at the retail level, when it takes fewer hours of study than a massage therapist accreditation?

This is the mentality presented and it is a good one. Not everyone can be rich, but many with the desire do not have the right tools or concepts solid in their financial education. this is who the book is aimed at, and it does so very well. There are three types of investors: (1) non-investors with no money and no financial IQ, (2) savers with some money and limited financial IQ, and (3) investors with a lot of money and high financial IQ. This book is targeted at helping people in group 1 and 2, be a successful investor like number 3.

The Top 3 Takeaways from this book that really impact any reader are:

1) There is a lot to learn about how Donald J. Trump thinks about the world and his economic policies. His political campaigns have given only a superficial view. He has written many books and they include his policies. There is no single book with all of his policies, there are many, so read them all.

2) The economies of China and India are big and need to be better understood from every angle. The USA cannot expect to stay number one without knowing how rivals economies are working and taking advantage. Facts need to be learned. Differences need to be understood.

3) When becoming a successful rich investor, you have to put in the long hours, work hard and learn by experience. You cannot learn to swim from any text book. Only by doing deals and learning what works and what doesn't, can you really become rich and successful.

This was not what I expected to written in a style that I thought I would recognize. This is only one book, but certainly gives a clear indication of what the future president make be thinking about global economies. finance and the USA. That seems worth absorbing and keeping in mind when seeing what first moves come out of this new US president and his administration in 2017. This book reads like the revealing of a man's soul and true colors, the key to a unique and complex personality. A very surprising book, highly recommended!

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