Robert Kiyosaki has written personal finance books that have been Best-Sellers worldwide simplifying themes that may be confusing with respect to investment and finance. In this book “False”, Kiyosaki presents ideas and answers to people who may not have had a formal financial education and teaches them to determine what is real and relevant in financial life. Let’s learn a little more of this book and 5 lessons that can be useful for our finances.
Contents
Differentiating what is real
Every day we receive a lot of information and opinions that may create confusion among people, by not mastering the topics that are discussed it is quite easy to be taken advantage of, being a solution for this, the education, so that you can discern between what is no real and what it is, in order to secure our financial future.
The three specific forgeries
Kiyosaki explains about an elite group that created exotic and risky financial instruments with high levels of immediate profit, but that separated those who took the consequences. With these false assets, the elite became richer, but they swindled the others. It is said that there are 3 specific counterfeits, of which the main one is the fake money, which enriches the rich and impoverishes the poor; followed by the fake teachers, where the educative system does not teach about the real world and, finally, there are the fake assets, where you have the confusion between the assets and liabilities. It is important to know the difference between these elements in order not to fall into a business that compromises our financial integrity.
Imagine the future as big as possible
Fuller, one of Kiyosaki’s financial masters pointed out the phrase “If you want to see the future you have to start with the biggest picture possible”, the rich have more cash coming in while the poor and middle class have more money going out; most of the financial revolts worldwide have been because of injection of fake money into the system by the elites, which is an unresolved problem because this favor them and they do not need to change, one of the most important lessons to take into account is that saving money won’t make them richer, when really the reach does not work for fake money, that’s why financial education is important.
Learning from mistakes
One of the lessons that are also mentioned is that nobody becomes an expert only with theory, in fact, one of the 7 rules of Oprah Winfrey to reach success talk about that you have to make mistakes and learn from them; the same thing happens to become rich since there is not much financial education in the world, many people can confuse an asset with a liability, just to mention an example, since it is taking money out of their pockets, for that reason we must be educated on the subject, we must also be aware that by making a mistake understand the reason why it happened to avoid it later.
Differentiating the type of money
In this book three types of money are mentioned: God’s money (gold, silver), the government’s money (dollars, pesos, and others), and the people’s money (Bitcoin, Ethereum, others), here is emphasized that all money paper used, at some point will reach its real value zero. Kiyosaki points out seven practical reasons for the gold and silver he owns, the main one being that he does not consider them investments but insurance, he considers himself to be keeping cash in banks, but in the short term since they too can go bankrupt. Therefore, it is essential to know how to distinguish between good money and fake money in order to be able to invest adequately and reduce risks.
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