This is the second book in the Rich Dad series. Robert introduces the four quadrants and shares with the reader how each person operates in each quadrant. He goes on to explain the changes necessary for a person to move from the E or S side of the quadrant to the B and I side. He cited the benefits that come from being on the B and I side, which will lead to financial freedom compared to being on the E or S side. The last seven chapters illustrate how you and I can get on the financial fast track through consistent and consistent actions recommended by Robert.
After reading this book, I am well informed about the kinds of changes I need to make and what it takes to get to the B side and I side of the quadrant. It is a total change in mindset and behavior as I myself operate outside the E quadrant. Activities performed by a person on the B side and on the I side will not make any sense to the person on the E or S side. Some of the many new ways of thinking emphasized in the book I have to adopt are:
- Work for Free – There will be no positive cash flow during the initial period of a start-up.
- Delayed gratification: Many people want to solve their financial problems instantly. But it is only through patience and diligent growth in our financial intelligence that we will later be rewarded by taking small steps each day.
- Investing is not risky – Without the right knowledge and skill, many people will find investing risky as they have previously lost money in the stock market or mutual funds through some unreliable source. For them, investing is like gambling.
- Find Mentors – They are there to guide you on your journey. They are people you can turn to when you have problems.
- Make mistakes – Expect things to go wrong and learn from mistakes. Losing is part of winning.
- Time is your most valuable asset: the rich spend money to save time, while the poor and the middle class spend time to save money.
This book is a must-read for people who are considering embarking on the process of becoming financially free. I would also like to recommend that you read Rich Dad Poor Dad first, if you haven’t already. Rich Dad Poor Dad provides the financial basics and fundamentals needed for the Rich Dad Cash Flow Quadrant Get It Now!