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Rich Dad's Cashflow Quadrant: Rich Dad's Guide to Financial Freedom Paperback – May 1, 2000
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Top Customer Reviews
The definitions of these four quadrants are important. As an employee, you have a job. As a self-employed person, you own a job. As a business owner you have a system (such as a franchise like McDonald's) that produces cash flow for you and others work for you. As an investor, your money works for you. Rich people are getting more than 70 percent of their cash flow and income by having money work for them.
One of the strengths of the book is that it deals with the subtle psychological differences among people in the four different quadrants, especially on subjects like security and freedom. Kiyosaki and Lechter then do a nice job of helping you understand the difference between risky and taking risk. The latter is a good idea, when you know what you are doing, and the former is always to be avoided.
The book is not dogmatic, pointing out that good results can be reached in a variety of ways. You have to decide which ones are right for you. In general, you are encouraged to move from the employee and self-employed side for your income to the business owner and investor side. Then, take your cash flow and expand it into investments.
Another of the strengths of the book is to make it clearer what the advantages of income property are. In these Internet stock-crazed days, many are looking only to stocks and missing good commercial property opportunities.Read more ›
The author could have reduced the number of pages by (a) 25% by dedicating this book to his wife and stating that they were poor with no assets and living out of a vehicle and off friends' graces before becoming financially free several years later. (b) another 25% by eliminating the repetition. (c) another 25% by eliminating the repetitive diagrams especially the EBSI one. (d) did I mention the repetition?
Interestingly, while the book deals with their success in general terms, it does not say HOW they did it. Indeed, the author and his wife did not appear in their own cash flow quadrant since there is no place for U [my creation] meaning the Unemployed.
So the question remained, How did they go from U and destitute to B and I in the CFQ? The answer is real estate we are told. Ok, but how does one without a job or collateral secure funds to pay the required 10% deposit. We are carefully told NOT to break the law. Real estate is key but WHERE to buy seems to be a problem. The author was magically ably to buy huge portions of land cheaply and sell with massive profits. We learn that the author learned three invaluable methods of negotiation previously unknown to him but are carefully not told what these methods were.
We are told that a true B or business owner can leave his business for a year and return to find it still functioning and more profitable than when he left it.Read more ›
CFQ helped take me from paycheck to paycheck to paycheck and 9-5 to self employment.
I highly recommend this book along with Rich Dad Poor Dad and other books in the RD series. They are all great.
Most Recent Customer Reviews
Opened my eyes to many new things that are holding me backPublished 2 months ago by Amazon Customer
This book literally changed my life. I quit my work a day paycheck job that had half of it confiscated before I got anything and started working in real estate. Read morePublished 3 months ago by Donald E Scott