RICH DAD’S CONSPIRACY OF THE RICH THE 8 NEW RULES OF MONEY is another book from the Rich Dad Poor Dad series of Robert T Kiyosaki. It shares author’s view of global economics and explores why people are finding themselves challenged during turbulent times. He challenged the world’s known principles of investing which talks about mutual funds and retirement planning.
During global slowdown it was the
conspiracy of the Rich dad (rich people) to take money from the lower class to
compensate for their mistakes.
He says, it is not the financial
experts or government or elected leaders who will decide more secure financial
future but one has to make themselves their financial decisions through
financial education that is studying the relationship between tax, debt,
inflation and retirement.
Debt is not as bad as we think
about it but it need to be used properly. There are two types of debt; good
debt and bad debt. The bad debt takes money out of your pocket and good money
puts money in your pocket. Good debt increase positive cash flow and put money
in your pocket.
The author repeated a number of
things number of times and explains the history of money in non-technical
language. He seems correct by saying dollar is now no more money but only a
currency. But still there are a number of things that need more explanations.
For example, cash flow not the capital gains should be the game, but common
person fails to understand that in stock market cash flow is in the form of
dividends only and is meager so purchasing stock only for dividends is not
justified.
Money is education, financial
education to be very precise. Roberts puts more onuses on the individual to be
rich and financial IQ or financial education is the only way. The
education system does not support the financial lessons leads to poor
financial education to the people. Financial education is for the rich only.
