Robert Kiyosaki’s latest book “Unfair Advantage: The Power of Financial Education” (also has the extra subtitle of “What School Will NEVER Teach You About Money”) was ‘launched’ on March 31st 2011 at a live event in Los Angeles.
Robert T Kiyosaki is most famous as the author of “Rich Dad, Poor Dad” which is a story about two different mindsets around money, however he has published many other books, including “Cashflow Quadrant” about the 4 different types of approaches to earning money (E – employee / S – self-employed/specialist/small business owner, B – big business / I – Investor), Rich Dad’s Prophecy about an upcoming stock market crash caused by baby boomers cashing out of the stockmarket, and most recently “Conspiracy of the Rich” which I reviewed on my small business marketing blog.
What is Kiyosaki’s “Unfair Advantage”?
In summary it is financial literacy. An understanding of how money works in the real world. To quote Kiyosaki…
This book is about the five unfair advantages of a real financial education:
1. The Unfair Advantage of Knowledge
2. The Unfair Advantage of Taxes
3. The Unfair Advantage of Debt
4. The Unfair Advantage of Risk
5. The Unfair Advantage of Compensation
So in this way if you have read all Kiyosaki’s previous books, this latest one isn’t claiming to offer much that is very new. Robert refers to “Unfair Advantage” as like “Rich Dad, Poor Dad: Graduate School”, and “What I am really doing with my advisers.”
I’ve watched the book launch from the online video.
On it Robert asked the audience who had seen “Inside Job” the 2010 Academy Award winning movie with Matt Damon, that incredibly enough got shut out of almost all the mainstream cinemas, but I got my copy easily on Amazon.
Robert’s Summary of his book is that it is the same as “Inside Job“, except it goes back further. While “Inside Job” (The 2011 Academy Award Winner for Best Documentary – that got ‘removed’ from US cinemas) starts with banks falling over in Iceland in 2008, and yet the problems were set in motion so much further back in history which is what his book goes into.
My summary of the book is that true to Kiyosaki form it is ideas rather than tactics, but it includes stories from his own businesses that he hasn’t covered before. He has gone after a very wide net this time.
If this is the first time you have come across his work then it will cover alot of territory for you and kick start you on a huge learning curve. Very recommended!
If you are a Kiyosaki regular then you will still find new bits in the stories, even though the ideas will probably be familiar to you. This is a book you could miss without damaging your education, but he has a “Special Section” which usefully updates the chapter on “Five Levels of Investors” from his classic book “Rich Dad’s CASHFLOW Quadrant”.
So pick your next step:
1. Get Unfair Advantage: The Power of Financial Education
2. Get Academy Award’s “Best Documentary” Inside Job
3. Check out these 7 Action Steps From Robert Kiyosaki
Stay safe, stay ahead of the curve, get educated!
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