Sharing Daily Discoveries About Personal Finance And Business Topics

Chapter 13

Getting Very Rich Is Predictable…Not Risky

The chapter starts off with Robert Kiyosaki mentioning again on how most people have that 9 to 5 mentality as that is what most people were educated to do. Because of this, they believe investments are risky. He then explains how getting rich is predictable and used a story that he was told as an example. Basically, there was an apple grower who started with one acre of apple trees and throughout the years he grew even more apple trees and bought more acres of land to plant them. By doing so, he became wealthy. This is to show how a situation like that was perfectly predictable and the same goes for other stuff such as going to the gas station to fill up your car or dining at a McDonald’s. An interesting example he used was the game of Monopoly and how everyone understands how you can build up to four houses and then a hotel to earn more money.

With those examples, while you have to obviously invest in one way or another, you can kind of see how it isn’t really risky and at the same time predictable in a general sense. He then describes Donald Trump’s formula for success is that he leverages, controls, creates, expands and predicts. Another example of predictability was how he invested in gold and silver as he knew the country would continually borrow and print money which would drive the value of the gold and silver up. Once again, while it required an investment, it was a fairly predictable situation.

Donald Trump’s view was mostly on how one should get over the fear factor mentality in investing in something and how before you seek the advice from a financial advisor that you should at least have some knowledge about the topic yourself. He then mentions how the title of the chapter is getting “very rich” which implies that the person reading already has money to spend and whether or not you put that money to work for you will be a determining factor in one becoming extremely wealthy. Later in the chapter, Trump mentions how he had to be convinced by Mark Burnett to do the reality show “The Apprentice” and while the odds of the show becoming a hit was not good, once it became extremely popular he was ale to make himself even more successful. His ending thoughts were basically that not doing something to move ahead is the biggest risk of all.

I suppose what was said in a general sense is all true. Some of the main examples like investing in gold or creating a reality show is probably a bit out of reach for most people which is what I would think a lot of people would say after reading the chapter. But, it’s more about understanding the mentality of it all I suppose.

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