Rich Dad's Retire Young, Retire Rich: How to Get Rich Quickly and Stay Rich Forever

FROM OUR EDITORS

The Barnes & Noble Review
Most people, as bestselling author Robert T. Kiyosaki points out in this iconoclastic book, have a retirement plan that's predicated on the notion that their income will inevitably decline once they stop working. As the rich dad -- a character Kiyosaki evokes whenever some pithy financial advice is needed -- might say, that's a poverty-friendly plan because it assumes that having a job is equivalent to acquiring wealth. Listen to the author's own life story if you'd like further clarification. In December 1984, Kiyosaki and his wife, Kim, were living on their last few dollars; just nine years later, they were both financially free people who could retire to enjoy the bounty of their middle years, a period most of us spend working. Instead of being caught up in the rat race, they found a formula for transcending it, leaving behind the legacy of what Kiyosaki calls the "Industrial Age" workplace for a future devoted to the pursuit of their own passions and interests.

So, what's the magic formula for success? Well, the answers that Kiyosaki found don't fit nicely with the conventional wisdom most of us have automatically accepted. 401(k) plans and other market-based vehicles? Too risky. After all, the market could fall a year or two before your retirement, leaving your nest egg in serious jeopardy. Carefully putting your money into risk-free savings accounts and investments? Too conservative. Without taking some risks, you nullify your potential to receive the large rewards that would allow you to escape into an early retirement. The answers Kiyosaki finds center around the concept of leverage, which, put most simply, is "the ability to do more with less." In other words, you need to use some of the quantitative modes of leverage (money, real estate, paper assets) as well as some of the qualitative modes (your imagination, habits, education, and planning skills) to reshape your world so that you can realize your dreams. Just as people leveraged existing technologies to create the airplane, thereby outdoing birds, who had only the power of their own bodies to rely upon, so too, according to Kiyosaki, can individuals use existing resources to perform better than nature and circumstance may ordinarily allow.

Fans of the Rich Dad series and readers who want to explore ways in which they can realize their dream of retiring early will find this book to be informative and engaging guide. (Sunil Sharma)

FROM THE PUBLISHER

It's the American Dream￯﾿ﾽto be able to make so much money at an early age that you could decide when to retire, knowing that you have enough money stashed away to ensure a life not burdened by financial restraints. Here, in the fifth book in the phenomenal Rich Dad series, financial guru Robert Kiyosaki provides practical insight on how to put together a financial plan which will not only make you prosperous but will also allow you to map out the freedom to choose your own retirement age.

Author Biography: Born and raised in Hawaii, Robert T. Kiyosaki co-founded an international education company that operated in seven countries, teaching business to tens of thousands of graduates. Now retired, Robert does what he enjoys most...investing. Concerned about the growing gap between the haves and have nots, Robert created the board game CASHFLOW, which teaches the game of money, here before only known by the rich. - Sharon L. Lechter is a wife and mother of three, CPA, consultant to the toy and publishing industries and business owner. As co-oauthor of RICH DAD, POOR DAD and THE CASHFLOW QUADRANT, she now focuses her efforts in helping to create educational tools for anyone interested in bettering their own financial education."

SYNOPSIS

It’s the American dream—to be able to make so much money at an early age that you could decide when to retire, knowing full well that you have enough money stashed away to ensure a life not burdened by financial restraints.

FROM THE CRITICS

Library Journal

In this fifth addition to his highly successful "Rich Dad" series, Kiyosaki (Rich Dad Poor Dad) now focuses on the power of debt leveraging in order to work less and earn more. Beginning with the principle of changing attitudes about financial freedom, he explains the difference between earned income and passive or investment income, managing good debt that makes money for you, such as in real estate, the fundamental concern about 401(k) retirement plans that are too focused on stock market performance, and the need to create a long-term financial freedom plan and the emotional discipline to stick to it. Listeners will likely be captivated as they learn how to replicate his success, and the crisp narration by Jim Ward definitely makes this fact-filled collection of sound financial advice another hit for Kiyosaki. The solid, practical insight into how to put together a plan to financial freedom will require a commitment to changing lifestyles and personal attitudes about work and, of course, enough time left in life to allow the investments to succeed. Highly recommended for all public libraries, especially those that have not yet begun to add Kiyosaki's other super titles to their business and investment collections.DDale Farris, Groves, TX Copyright 2002 Cahners Business Information.

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