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Monday, September 29, 2008

Why We Want You To Be Rich? Author: Donald Trump and Robert Kiyosaki

Thanks to boywannamoney

"Why We Want You to Be Rich" gives Donald Trump and Robert Kiyosaki (and their co-authors) a chance to hop onto each other's bandwagons. The two men claim that they collaborated on this book because they are concerned about the demise of the middle class. They see a two-class system in America's future -- the rich and the poor -- and they feel obligated to motivate us clueless middles to pull ourselves up to their level. They do this by shooting down over and over what they say has been the standard financial advice for us in the past: get a job, work hard, live below one's means, save money, invest for the long term in mutual funds, and diversify. They discount our presumed "entitlement mentality" -- the one that believes that Social Security, Medicare, and our pensions will take care of us in retirement. We should be investing to win, they say; not saving to avoid loss. And Kiyosaki recommends that we all become Bs or Is -- Big-business owners or Investors -- instead of Es and Ss, Employees and Small-Business / Self-employed / Specialists. All of these points are easy enough to say and a challenge to actually undertake. But that, of course, is the point. And that's why a number of middle-class Americans will undoubtedly see this book as an insult to their intelligence and a criticism of their lifestyles.

cover:
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