Title : Guide to Investing
Author: Robert Kiosaki
This book is written by ‘Rich dad poor dad’ famous author Robert Kiosaki. This is the third book in the series and mainly talks various aspects of Investing. Robert has his highly educated dad whom he calls as ‘Poor dad’. He calls him poor because all he did was worked for somebody and remained poor during his retirement time. Robert’s calls his friend’s dad as ‘Rich dad’ because rich dad built a huge amount of wealth by building businesses.
In the year 1974 Robert takes comes out of his marine-cop job in Vietnam and starts learning his investment lessons from his ‘Rich dad’. The book consists of three parts. The first part Robert discusses about four major elements of personal finance. They are ‘Income’, ‘Expenditure’, ‘Assets’ and ‘Liabilities’. He explains how rich people make their ‘Assets’ generate the ‘Income’ and how poor people spend their lifetime by paying up for the liabilities. In the second part Robert explains his ‘Cash-Flow-Quadrants’ in which he classifies people into Employees (E), Small Business Owners (S), Business Owners (B) and Investors (I). He clearly shows how people take the E path and remain poor and how his rich dad took the B path and built wealth. He also talks about personal financial statements, tax and other legal aspects.
In the third and most interesting part Robert talks about ‘Entrepreneurship’. He explains various aspects of building businesses. This section is excellent and inspired me a lot. Finally Robert concludes with stressing the importance of ‘Ultimate Investor’ where an individual builds a business and takes it into public. The first two parts are kind of repetitive and Robert tries to talk the same thing again and again. But I somehow feel in order to understand the ‘Financial-literacy’ this book is a must read mainly because it is simple at the same time makes the reader think a lot.
Title : Success Vs Joy
Author : Geet Sethi
Price : INR 95
This book is written by Geet Sethi the famous billiards player. This book is based on his thoughts and discussions with his friend Sunil Agarwal. Sethi started playing billiards when he was 13 year old and found playing billiards gave him extreme amount of ‘Joy’ than anything else. Till date he is playing the game and achieved great things in billiards. Sunil on the other hand was also interested in billiards but took a different path because of society compulsion and finished his MBA from IIM-Ahmadabad. He is a big leader in the corporate world now. He has achieved what the society calls as ‘Success’ but he is not having the ‘Joy’ feeling what Sethi felt by playing billiards. This leads to the main theme of the book: Which is important ‘Success’ or ‘Joy’?
According to Sethi ‘Success’ is doing things for other’s (Say society) sake whereas ‘Joy’ is doing things that individual’s inner self feels or in other words what an individual is passionate about. Throughout the book Sethi stresses upon following the activity which gives extreme amount of ‘Joy’ rather then doing something for what others perceive as ‘Success’. Most of us think that we need to be feel ‘Successful’ and they the ‘Joy’ part will follow and keep doing things which is not close to our hears in order to achieve ‘Success’ and never be happy in life. According to Sethi the reverse it true. By following the activity which is close to individual’s heart (In Sethi’s case its billiards) and doing it with extreme amount of ‘Joy’ the ‘Success’ will follow. He gives various examples from the sports world and explains this concept. The excellent point about this book is its very simple and easy to understand at the same time conveys an important message.
After reading multiple books on inspiration related topics I would rate this is one among the top. To read more book reviews please CLICK HERE.