FAKE by Robert Kiyosaki
How To Soar With Eagles In A World Run By Chickens Take Control Of Your Life?
In the last chapter, the author gave an analogy: How Eagles Learn to Fly?
1.STEP 1: “Wake up.”
When it comes to money, we have all been brainwashed. Brainwashed means taking on ideas that are not your own. Brain washed people are willing to die or fight for an idea.
Brainwashed people become upset when they hear things like:
- Savers are losers
- Your house is not an asset.
- The rich don’t work for money.
- The rich use debt as money.
- The rich do not pay taxes legally.
They become upset. A few become angry. They become emotional because they have been brainwashed. They become upset – “triggered” – by ideas that contradict their fragile beliefs.
2.STEP 2: Eagles teach their kids about money. Chickens do not.
Most family fortunes are gone in three generations. The first generation earns it, the second enjoys it, and the third generation loses it.
Dynasty wealth, wealth that is passed on from generation to generation. Rich dad also said, “Most poor and middle-class parents only want their children to get good jobs.”
3.STEP 3: Eagles make mistakes and learn from their mistakes. Chickens do not.
4.STEP 4: Eagles cheat - they ask for help.
5.STEP 5: Eagles invest in what they love. Chickens do as they are told.
6.STEP 6: Eagles invest for infinite returns.
Eagles invest with OPM, other people’s money. Chickens are other people.
LESSON: Tax breaks for the Bs' and Is' are similar, yet slightly different in different parts of the world. The lesson is that having a smart tax accountant and tax attorney can be the smartest thing an eagle can do.
Chickens do not have bookkeepers, tax accountants, and tax attorneys.
LESSON: Eagles spend money to increase income – on education (courses and seminars) and for professional advice from bookkeepers, accountants, and attorneys.
LESSON: Chickens who work hard and who work hard to keep expenses low so they can save money pay the highest taxes and receive the fewest tax breaks from the government.
LESSON: Chickens spend money and the money never comes back.
Why Do Chickens Lose?
Chickens do as they are told and turn their money over to “financial experts,” such as financial planners and fund managers to invest for them. The problem is that chickens learn nothing when the expert wins and learn nothing when the expert loses their money.
Education is what remains after one has forgotten what one has learned in school.
Fuller often said, “Free the scholar so he can return to his studies”. Fuller’s words – “Integrity is the essence of everything successful”
Fuller also said, “If the success or failure of this planet of human beings depended on how I am and what I do… How would I be? What would I do?”
Conclusion: The author tries to convey the message that we all should try not to follow what our governments want us to do. Rather take things into our own hands and invest in real money which are gold and silver not paper money. Financial Freedom can only be achieved when we stop working for money and money starts working for us. That is the ultimate truth.