Why We Want You to Be Rich - Donald Trump, Robert Kiyosaki

Why We Want You to Be Rich - Donald Trump, Robert Kiyosaki

Want to find out what you need to do today to become rich? In this PocketBook, you will understand everything that goes inside the mind of a billionaire - and why you need to think like them!

Billionaires and big businessmen Donald Trump and Robert Kiyosaki brought together in their book, "Why We Want You to Be Rich", all of their knowledge of investment and financial education, and explain the path they took to get where they are.

Running away from cliché tips about instant wealth, in this PocketBook you will understand how you need to think to turn your money into a fortune, and be able to enjoy it.

Are you curious? So come on!

About the book "Why We Want You to Be Rich"

"Why We Want You to Be Rich" was written by Robert Kiyosaki and Donald Trump in 2004.

Despite being published more than one decade ago, the work is timeless and remains a bestseller.

The authors gather all their business experience and give advice on what to do to choose the right path to wealth.

About the authors Donald Trump and Robert Kiyosaki

By the time this book was published, Donald Trump and Robert Kiyosaki were already considered two of the greatest businessmen in the United States.

Donald Trump is a successful businessman and billionaire, mainly in real estate investments, and was president of the United States. In addition, he is the author of several books, among them: "The Art of the Deal".

Robert Kiyosaki is an entrepreneur, speaker and author of the absolute success "Rich Dad, Poor Dad", which even today sells thousands of copies around the world.

To whom is this book indicated?

If you are dissatisfied with the slow results you reap with your current investments, take advantage of the book, "Why We Want You to Be Rich", to understand what you really need to do to start generating wealth.

The work is also suitable for investors or people who want to start investing in the right way. Deep investment knowledge is not necessary, but an open mind and willingness to change your life today.

Main Ideas of the book "Why We Want You to Be Rich"

  • There are Savers and Investors, and only the latter has a real chance of creating wealth fast;
  • The first step for every investor is to overcome fear;
  • Financial education is a fundamental process for anyone who wants to make the most of their own money;
  • It does not take decades of saving money to become rich;
  • Using the right lever, you can generate wealth.

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[Book Summary] Why We Want You to Be Rich - Donald Trump, Robert T. Kiyosaki

Overview: Introduction

Have you ever thought why the rich are getting richer, while poverty seems to increase? Maybe not, but Donald Trump and Robert Kiyosaki, yes.

For them, the middle class seems to be disappearing, which unbalances the economic power of any country. Ideally, the middle class will be able to continue its path and ascend to wealth.

And the reason for this seems to be very simple, according to the authors: education, especially financial. People are making money, but they don't know how to invest it.

The problem is that the middle class has learned to invest as passively as possible. Its goal is simply to save a little money every month and put it into a savings account or any investment without any risk.

By doing this you will have money saved, but you will probably never become rich. For that, it is necessary to use another strategy.

The purpose of the book, "Why We Want You to Be Rich", is to show you exactly what needs to be done to start investing your money and turning it into a fortune.

Overview: The 3 Types of Investors

According to authors Donald Trump and Robert Kiyosaki, there are only 3 types of investors. And these types are much more related to the investor's mentality than how much they actually have to invest.

While most people believe that to make money they need to reduce their living costs, Trump and Kiyosaki believe the opposite.

After all, everyone likes to enjoy the money they have. For them, the goal should not be to spend less, but to earn much more. The 3 types covered in the book, "Why We Want You to Be Rich", are:

  1. People who never invest: these will probably be poor all lifelong. This group of people believes that external factors, including government and even family support, will take care of everything if something goes wrong;
  2. People who invest in order not to lose: these people realize that they are partly responsible for their own problems, and so, to avoid them, they save money every month. They spend their entire lives saving and putting all their investment in safe places, such as savings, but they never see that money pays off;
  3. People who invest to earn: these people have one goal with their investments which is to make more money. They are willing to study more and gain full control of their financial life. They recognize that to earn more, it is necessary to take some calculated risks.

Robert Kiyosaki's Advice: The 90/10 Money Rule

You have probably heard of this, but Kiyosaki presents a piece of data here. About 10% of the US population owns 90% of the wealth generated.

The author decided to learn from this rule and explains that he uses it to choose part of his entrepreneurships.

For example, he is a golf lover. He decided not to become a pro in this sport because he knows that he would never be in the top 10%, and thus would never generate wealth with his ability.

This is why it's important to invest in knowledge no matter what other investments you make.

Donald Trump's Advice: Keep Dreaming

According to Trump, keeping that ratio in mind is important, but even more crucial is that you dream big, regardless of any data.

Without the right to dream, you follow the path to merely surviving, paying the bills, and gathering money so as not to be vexed.

Winners, especially those who hope to achieve wealth, must always keep the expectation, the dream.

Similarly, keeping positive thinking and believing that one day you will achieve everything you want is also crucial. After all, if not even you believe in it, how will you have the energy to get what you want?

Overview: There is a difference between savers and investors

You may already be part of the group of people who have the feeling that they are investing. You have a fund portfolio, you invest in fixed income securities and Treasury Direct, right?

According to the author Robert Kiyosaki, this does not make you an investor... but rather a more conscious saver. Your purpose remains to save the most and receive small amounts in return for this supposed investment.

This does not mean that you should get rid of these things. But if you expect to be rich someday, it is critical that you open your mind to other alternatives.

Run after your lever

Authors Donald Trump and Robert Kiyosaki explain in the book, "Why We Want You to Be Rich", that what really differentiates a saver from an investor is "leverage". In other words, the power to transform a value double or triple in a short time.

The problem with savers is that they can't, and they don't even want to. For them, fortune has been working hard for years or even decades.

Get rid of bad debt — work with good debt

According to the book "Why We Want You to Be Rich", there are debts that come for good and that can make you rich.

In fact, Donald Trump's strategy is to borrow money from banks to make his main investments.

Why don't these debts worry him? Because they are completely under control and because he knows that the investment he will make will yield much more than the debt.

This does not mean that any loan you make will be a good debt. On the contrary, this type of debt becomes a problem for most people precisely because they lack financial knowledge and do not apply the amount as they should.

The authors explain that they usually get a loan to invest in good properties. This requires a thorough knowledge of the market so lending does not become a problem.

Investing = (big) responsibility

Do not confuse investing with little work. In fact, investing makes you much more money than you would ever make in your life as a company employee.

But for Donald Trump, the biggest difference between saving and investing is: saving doesn't require constant monitoring, it doesn't require responsibility. You just have to put your money in there and get it back in 10, 20 or 30 years from now.

On the other hand, investing responsibly is an obligation, and needs to be constant. Certainly, it is not for everyone, and first we must overcome the fear of investing.

But after this first step, according to the author, investing becomes more natural and even much more satisfying than any job.

Winners (always) choose control

Authors Donald Trump and Robert Kiyosaki clarify that one of the reasons they are passionate about investing in businesses and real estate is because they are in complete control of what is happening.

According to the book "Why We Want You to Be Rich", in investments of this type, they have control over:

  • Recipes;
  • Expenses;
  • Assets;
  • Liabilities;
  • Administration;
  • Insurance.

Look for investments where you can take control of all this data. If you can closely manage the entire business process or investments you choose, even better.

Overview: Billionaire Advice

"I'm still a student. What should I do?"

Robert Kiyosaki's Answer

The author also instructs the student not to be afraid of making a mistake and not to pressure themselves to find a job right after school. Have courage and become a businessman.

But also practice. Propose to your parents simple activities, such as having a budget per week and buying family food. This will increase your notion of the value of money.

Also, learn about cash flow and take courses that can help you in your entrepreneurial life.

Donald Trump's Answer

Always try to excel, especially in your studies. This does not mean getting good grades but seeking real knowledge about the subjects that can help you become successful.

Also learn about money, believe in yourself and put dedication into the realization of your dreams.

"I'm an adult and I don't have much money. What should I do?"

Robert Kiyosaki's Answer

At this point, you only have 2 choices. You either reduce your cost of living, or you increase your earnings.

The truth is that there is no right answer between these 2 choices. The first one does not always lead to a life of wealth. The second is more risky, expensive, complex, but it can lead to wealth.

You must make the choice according to your own lifestyle and beliefs. If you decide on the most complex path, that of wealth, the author recommends in the book, "Why We Want You to Be Rich", that you seek deep knowledge in investments and technical investments.

Donald Trump's Answer

Review your whole life for answers. What do you want from now on? Also, evaluate your own skills, job satisfaction and financial life.

But no matter which path you choose, the important thing is never to give up and know how to take advantage of even the bad situations.

What do other authors say about it?

In "Unshakeable", Tony Robbins gives valuable advice: if you're not careful, taxes can easily eliminate 30% or more of your investment returns. It is therefore important to pay attention only to the net amount that you will actually be able to keep.

All the billionaires the author has met have one thing in common: they and their advisers are really smart about this tax issue.

Napoleon Hill in his book, "Think and Grow Rich", reports that a common feature among successful respondents is that they are able to make decisions quickly, and are confident of that decision.

Finally, for Jill Schlesinger, author of "The Dumb Things Smart People Do With Their Money", people should not invest their money in what they do not know. You must have good planning and a thorough knowledge of where to invest. Also, it is important that the investment makes sense for your life purpose in some way.

Okay, but how can I apply this to my life?

  • Invest in financial education and start preparing for your next investments;
  • Deeply understand the market you are going to invest in;
  • Don't be afraid to make a mistake, but understand how to learn from your mistakes;
  • Do not be afraid of debt to invest unless it is of the bad type;
  • Invest in knowledge, and no investment will ever be "risky". Knowledge increases control, which lowers risks;
  • Learn to take advantage of every opportunity, especially those generated by problems.

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Book 'Why We Want You to Be Rich'

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