Co-authors Donald Trump and Robert Kiyosaki combined their efforts to write Why We Want You To Be Rich. This is a good read for any one who wants a different, highly successful look at the concept of money and financial education. However, the two authors repeat the mistakes of their previous books by not addressing real-world issues to the readers.
The biggest problem that I have with the message in this book is that both Donald Trump and Robert Kiyosakicompletely neglect and discussion of existing debt. Granted, my $116,000 student loan debt is a bit extreme, but there is no discussion of how to handle credit card debt, smaller student loan debt, or other types of “bad” debt.
Both authors make implied points that readers should pay off their existing bad debts before they make strides towards becoming financially free, but they don’t address the fact that today’s workers need to work to pay off their long-term debts. Neither of these men have had these issues in their personal life and it shows. Sure, they’ve had huge losses in the business world, but it’s much different when an LLC is at risk of being dissolved as opposed to when an individual is at risk of losing their credit rating.
Unfortunately, there is no discussion of the real problem that many people face today. It’s not a growing debt for existing debtors - it’s a growing number of existing debtors overall. Many people have finally realized that they can’t spend like drunken sailors and that they need to stop using credit cards and taking out high interest loans. These people have indeed stopped these bad habits. However, there is absolutely no option to stop working or start putting money in a different high-interest yielding account when you have to pay to keep the electricity on as well as to pay down your credit card debts.
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