August 10, 2007, 7:00 am

Book Review: Why We Want You to Be Rich

by: The Financial Blogger    Category: Reviews
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I would not categorize myself as a fast reader. Actually, I should say that I am reading at a decent pace but I am left with so little time to read. I used to work six days a week for the past ten years (full time University plus 35-40 hrs of work switched to full six days a week for the pas four years), I have a son, and now a little daughter. I found time to study for many classes in the meantime. So reading for pleasure is definitely not part of my weekly agenda. However, one in every while, I get myself to read a book. Sometime it is for pure pleasure; sometimes it is learn more about a subject. I recently finished “Why We Want You to Be Rich” by two very famous and very rich individuals: Donald Trump and Robert Kyosaki.

What is the point?

Trying to get your point across is sometimes harder than climbing Mount Everest. I know that as a blogger as you have so little time to captivate your readers’ attention and get what you have to say before their lunch hour (or their interest for your post) is running out of time. Well I would not have stayed long enough on reading everything they have to say they would be bloggers!

They are basically spending too much time talking about how America and other industrialized countries are in trouble as their population is aging, health care and welfare cost are growing faster than dandelions on steroids and everybody depends on the government to feed and entertain them. That reminds me of the Roman Empire!

My wife found my body half dead by the pool before the end of chapter 4. But I decided not to give up and keep on reading. The real point of this book is very noble. The message could be resumed in two words: “WAKE UP!”. People need to take accountability for their inability to save and waste their money instead of trying to create assets. I tend to agree with them that most individuals think the Government owe them a good and free health care system, that their employer owes them a good and wealthy pension plan and that their children owe them hospitality in their house when they will become inapt. Wake up! This is not happening; you need to take care of your financial situation now!

What did I get from my reading?

When I was reading this book, I felt that I was in a Wal Mart. I was looking for something but I was offered a whole bunch of other cheap stuffs that was not making the cut. Each chapter is divided by Robert and Donald’s part. I think that Kiyosaki wrote his entire part and Trump just agreed on it. While I was more interested in what Trump had to say as I read several books from Kiyosaki, his part was always smaller than his co-author’s. In fact, he was simply rewording what was previously said three pages ago.

You are probably convinced by now that this book is sitting in a brown box under my basement staircase. However, I did get something out of it. As I am already focused on finance, this book did not act as a wake up call. Nonetheless, it helped me determine my financial goals according to my passions and not what pays more. I understand that by doing something you really like, money has much more chance to come around.

Should you read it?

Well…hum… did you not get the point by now? As I definitely recommend reading Kiyosaki’s Rich Dad, Poor Dad series, he is not bringing anything new to this book. I am not a “Kiyosaki Believer” but I surely appreciate having another point of view on personal finance. This book sounds like a burnt “best of” of his advices. As for Trump, I respect the man behind the billions but I never read anything else from him. Therefore, I could not compare. While being captivating by moment, his thoughts should have been express in a more lengthy way. I found he was direct (which I appreciated from him) but I felt that he had more to say on each topic.

Finally I must say that I definitely did not appreciate the last 10 pages of the book. It was filled by both author’s add for other “complementary” products. Sorry guys but If I was looking for a computer, I was surely not there to get a printer, a camera and a useless extended warranty. When you read a book, you want to look inside and find what you were looking for, not advertisement!

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Comments

I didn’t like the book either. I thought it was a bunch of baloney from two showmen. What a waste of valuable time and $20.

by: The Financial Blogger | August 14th, 2007 (7:20 am)

By reading this book, I though I would get some food for thoughts. In fact, baloney is not the greatest meal I had!

Having wasted my time by reading other books by Kyosaki and Trump, I assumed this one would be rubbish as well and didn’t waste my time on it.

My government does owe me a good and free healthcare system. That’s what it won its election on, it can bloomin’ well deliver.

(I’m in the UK btw, we already have free :twisted:)

by: The Financial Blogger | August 14th, 2007 (10:47 pm)

Traineeinvestor, I do not think that all Kyosaki’s books are a waste of time. A very interesting point of view on personal finance is presented in the Rich Dad, Poor Dad series.

Plonkee, I am lucky enough to live in Canada so I do not have to worry too much about our healthcare system. Unfortunately, ours is left efficient and sometimes you have to wait numerous hours before you see a doctor. I just can’t wait to see some private clinics kicking in!

by: augustabound | September 6th, 2007 (2:33 pm)

I’ve read some from both and to say the least this book disappointed. As you mentioned, Trump (or his writer), just agreed with Robert’s points throughout the book. I also got the feeling that Robert felt a bit subordinate to Trump, there seemed to be some butt kissing on Robert’s part.
I’m interested in the Trump story, as far as how he built his “empire”, and I used to love Kiyosaki’s stories too. Used to.
After reading some other bloggers book reviews on the Rich Dad series, more than one of them have found many discrepancies throughout the series. In some cases, Robert contradicted himself on the same page.
Maybe I shouldn’t have been disappointed, I actually should have expected what it was.

[...] yourself first and pay down your debts… However, I still think that reading 1 or 2 books from Robert Kiyosaki and certainly the Wealthy Barber will give you a great start in the personal finance [...]

Ok guys, I have a different slant on this book. I think it was terrific on a “DEAP” Level. I haven’t read any of either of the Author’s books, but will and I do agree the Kiyosaki was providing most of the thoughts.

There were three things I found really interesting… and I’ve only read half the book.
1) That turning over all of your investments to a so called Financial Expert will likely proved mediocre results and there is no need to diversify if you know what you are doing… which comes by learning all there is to know about what you are investing in. Increase you Financial IQ. Kiyosaki, Trump and Warren Buffet do not diversify… they invest to win.
2) Their Dedication and Discipline. They do what most do not… they invest the time lining up all the details as to what they believe and let nothing keeping them from realizing their vision. Most never make the first step, let alone, the dedication to stay the course that is required to achieve victory.
3) Defining moments… they both talked about this and I couldn’t help but think of defining moments in my life that turned out not to be defining because I didn’t nurture them… looking back on them, they should have been the catalyze that propelled me to the top. They did not and I think that is because we just let them die… we let life get in the way. If we are to excel, we must have a reason… one that propels us… not one that elicits feelings… one that exerts passion. It takes that kind of fuel and Kiyosaki and Trump have it. We must learn how to use this kind of fuel as well

Having bought the book for $5.98 at Barnes and Noble. I was reading at a good pace until page 85, chapter two tired of the way the book is written or broken down. I lost interest.. I attended TrumpUniversity and bought Robert Kiyosaki other books and liked them but this book is much the same as the other fluff.

I better start looking at blogs before I purchase my next book.