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Recently I was surprised about its clarity of content, when I stumbled about this book in a book store. Retire young, retire rich.
It’s very compact and an easy read, yet Robert T. Kiyosaki gives useful views on how everyone can retire young and rich. It’s all a matter of your context.
The core problem is that our ‘old fashioned’ education systems teaches us solutions from the industrial age. Financial knowledge is mainly transferred from parents to their children. Of course our parents mainly don’t have the solutions to the ever-faster changing economic cycles of today’s fast-paced life in the information society. They can hardly use a computer. That means, people become poorer and poorer, cause they struggle in the deadly cycle of learning at school, getting good grades, study to get some degree and get a well-paid job for life. What is well-paid anyway, if your government is taking 50% of your hard-earned money as taxes? Your money is taxed many times, as you pay GST/VAT and other taxes on top of income tax you paid already.
You still save money or pay-off the mortgage for your house? Is that a valuable asset? Or more another liability? Do you still believe in job security? Remember: there is no spoon!
Multiply your output! Give up your lousy paid job and create your own business and let OPM (Other peoples money) work for you. Accumulate lower taxed assets. Get the government to fund your investments. Establish a Cash Flow that works for you. And most important: Get out of the rat race early, before it’s too late! Use your time better.
It gives me pimples when I remember my former boss, who was a prime example of the rat race. He lost everything in the asian stock crisis in 1998, pays alimony to his wife for his first-marriage-kids, pays of the mortgage for his self-used house and plans to work until he falls dead on the floor. His health (and weight) is playing yo-yo with him, even though he gave up alcohol and struggles to cut down on smoking. Has anyone seen permanent rings under ones eyes? Ever seen a Panda Bear? Exactly. That’s what I’m talking about. 
Guess what - my old company had a history of sudden deaths, with managers up to CEO level dying of heart-strokes already in their late 40s - they literally worked their a**e* off….
Here the direct link to Amazon:
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Anyone interested in Kiyosaki should read this first: http://www.johntreed.com/Kiyosaki.html
I read Retire Rich, Retire Young several years ago, I probably should reread it.
I find John T Reed’s view a bit on the harsh side, but his books on real estate investing are must-read. I have learned a lot from reading his works.
I agree, that ‘Retire rich, retire young’ can really only be a start - I wish I had read it 10 years back, I only found it 1-2 years ago and it mainly confirmed what I found out through other sources before.
But still something I would recommend it to a 20-year old to start with, mainly to broaden the financial horizon.
After reading it, you have to find your own way on how to get to achieve your financial goals…
[...] To do the big bang and pack your bags and go, it surely takes some more in-depth planning. You could start with reading this book or this. Get an idea on how to create several independent income streams, invest in real estate, dividend titles, interest earners and not in luxury goods like Cars, Jewelry, Designer-Jeans, Manolo Blahnik Shoes or Bauknecht kitchens. [...]
[...] You can generate Passive Income from a rented-out apartment in Europe, Australia or the US (aka Retire Young, Retire Rich). Another Income Stream can come from dividends of stable old-economy Dow-Jones/European Stocks, who pay out dividends regularly (quarterly) and with increasing amounts over the last past years. [...]
[...] Find something what you like and try to make money out of it. Read more books about this topic. Calculate your needs. This website can only help with some ideas, but of course they don’t apply to everybody. You have to make it your way. After all it’s your own life you decide upon. [...]
hi Chris,
I like to read your blog. The contain is very good, and inspiring.
your story of life also great. Really want to finish to read all the page.
Regards,
Anta
Anta, many thanks for the compliments! Hope you enjoy the reading. If you have any criticism or requests for further posts, let me know and I will see what I can do.
Hi Chris,
I am very interested on how you make ends meet etc..like with money? Do you invest in stocks? or having some sort of passive income??
I am interested.
Thanks
Bill, I survive on income deriving from interest, rent. dividends and a small bit of online income. Parts of it is from value stocks (food/drink industries, as those always survive, even through downturns. they pay dividends 3-monthly as well). As well I don’t need a lot of material things to be happy, in fact, the less I own, the happier and more secure I feel. That’s the whole secret.