Education and School · Investments · Thoughts & REFLECTIONS

Book Review:The Unfair Advantage by Robert Kiyosaki

Monday, another week, another challenge, some good inspiration. And what better way to get some good inspiration than to read a good book. This Monday is as good as any to get yourself a book. A Monday book. Well, I have one that you won’t want to put down. Its simple but in its simplicity it teaches very good lessons.

Most people know Robert Kiyosaki for his other favorite book,”Rich Dad Poor Dad”, a very entertaining book about how to look at money. If you thought Rich Dad was quite the educator then Unfair Advantage is the best dessert. It came later and its a book that basically in a nutshell tells how to make money work for you. Its about taking advantage of the “unfair advantages” in society that not everyone is privy to.

Before I go on, we all want money. Some may be more open about it than others but the truth is that its the answer to a lot of material situations that we face and even emotional, social and mental situations we face. The only disadvantage to this is that with each upgrade you need more and more of it. But in such a scenario that is the reality of our lives isn’t it better to be in control by knowing how you can help yourself get more of it? A life worth living in fun definitely entails a glass of wine here, a fancy meal there, a nice vacation to see the world, a beautiful space to call home. It entails celebrating the good things you contribute to to the universe and treating yourself with whatever makes you feel happy.

I believe we should be taught a lot of things but schools miss out on a very important factor of life, a lesson that is for the ages no matter what career or path your life follows and that is the lesson of how money works and how to make it work for you. I found The Unfair Advantage very insightful because of agreeing with all these sentiments. Even the author says he knows this is a secret that most wealthy and successful people keep for themselves and he didn’t see the importance of the secret since there is enough to go round for everyone.

The book has five key unfair advantages that are pretty exhaustive:
1. Knowledge
2. Taxes
3. Debt
4. Risk
5. Compensation

Some good tidbits I picked up from the book:

“If a person has a solid financial education, they will not cling so tightly to job security, a steady paycheck and a pension. If a person knows the tax laws, they will not pay unnecessary taxes. If they understand the banking system, they will not save money. Rather than call their home an asset, they will know that it is a liability. If they understand inflation, they will not try to live below their means. Rather than get out of debt, they will learn how to use debt to gain wealth. And they will not turn over their money to bankers, financial planners and real estate agents in the hope of obtaining a secure retirement”

“We study hard so we can play Monopoly in real life”

“Your brain is your greatest asset. Your brain can also be your greatest liability”

“A true investor does well in any market condition”

“If you are a fool you will probably lose no matter what you invest in”

“Nothing is a good investment if you are a bad investor”

“I believe it is better to teach people to fish than to give them the fish”

kiyosaki

I hope they inspire you to get the book. Kenya and the world over is in a great time. We are becoming more sophisticated in how the world interacts and because of this new opportunities keep coming up each day. Wouldn’t it be great if you have the necessary tools to help you be part of the movement of success? But despite how many unfair advantages you are presented with, being true and authentic to yourself will make making use of them all the more if you are a good investor. It doesn’t matter how good an investment is if you are not a good investor. Because at the end of the day its your good judgement calls that determines your success. Unfair advantages just give you the whole buffet of options. It’s a good motivation for the start of the week. You can get it from most “Inama” (Bend-over) bookshops in town 😉 .

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