Second Chance

Second Chance

For your Money, your Life and Our World

Book - 2015
Average Rating:
3
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Shows readers how to understand the past so that they can shape their financial future and use the Information Age tools and insights to their financial advantage and create a fresh start.
Publisher: Scottsdale, AZ : Plata Publishing, 2015
Edition: First edition
ISBN: 9781612680460
1612680461
Branch Call Number: 332.024 K6589S 2015
Characteristics: xiii, 352 pages : illustrations ; 23 cm

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h
HandyFellow
Aug 26, 2016

Not Kiyosaki's most inspired volume. Choosing to become a gold bullion licking Doomer as his chosen path is certainly an option, but then again, gold and silver don't generate rent, dividends, or interest, and as a 'storage' of wealth, have performed amazingly badly over the last 10 years. Buying rental real estate is also an option, but in Canada, rental income is 100% taxable as income (as well as sub 3% CAP rates and having to deal with all those pesky tenants), where as Canadian Dividends in certain corporations give you a Canadian Dividend tax credit. Another option would be a REIT (Real Estate Income Trust), many of which pay north of an 8% pre-tax yield. The conspiracy theories and constant beating of the drum about the end of days resulting from going off the gold standard in 1973 has worn a bit tedious over his last several books, however, there are still a few gems about cash flow management and basic financial planning of asset purchases that still hold up.

k
KatherineHere
Apr 20, 2016

I'd say cashflow is the most important thing here. Without that, your hands are tied. Creating it and keeping it going is another story.

b
bellinghamdude
Mar 11, 2015

Rich Dad, Poor Dad changed the way I think about wealth and has improved my life. Robert's message continues to expand on the original book and open my eyes further in 2015. I've found a way to avoid the fractional reserve Robert blames for many of the problems today. Let me know if you want to know more. 844-696-2265 Best of success and happiness in all you pursue!

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