Books, Jamie's Favorite Books, Reviews

FAKE: How Lies Are Making the Poor and Middle Class Poorer

 

Author: Robert T. Kiyosaki

Robert Kiyosaki author of the #1 personal finance book of all time “Rich Dad Poor Dad“. In his most recent book FAKE: How Lies Are Making the Poor and Middle-Class Poorer.

Has built a legacy around simplifying complex and often confusing subjects. Like money and investing. He continues to challenge conventional wisdom and asks the questions that will help listeners sift through today’s information overload to uncover ways to assess what’s real… and what isn’t. And use truth and facts as a foundation for taking control of their financial lives.

In this new book, Robert fights what’s “fake”. He helps listeners differentiate between what’s real…and what isn’t. 

Robert pulls no punches in his assessment of what is passed off as “fact” or conventional wisdom. He believes that a strong foundation – for anything we want to build – needs to start with solid, true information. In today’s uncertain times, creating a secure financial future is a priority. The peace of mind that comes with it starts with taking action and taking control.

In FAKE: Fake Money, Fake Teachers, Fake Assets, Robert delivers insights. And answers that help ordinary people. Who probably haven’t had a lot of financial education. Determine what’s “real” and relevant to their financial lives.

Photo by Stanislaw Zarychta on Unsplash

Every day we are bombarded with news reports and information and opinions… How do we decipher fact from fiction? How do we differentiate between truth and lies? And determine what’s real… from what isn’t?

Kiyosaki believes that it starts with education. Financial education designed to make us smarter with our money and be able to fight what’s fake. And use what isn’t to secure our financial future.

It is an excellent book if you want to see how the economy is made. This will probably annoy or highly irritate those who are from the elite crowd. Exposing the real puppet masters.

INTENDED AUDIENCE:

FAKE is written to change the mindset of the reader. It very much targets the strategic level of personal finance. Instead of offering specifics on finance he offers a completely different way to look at money, liabilities, and assets.

The target audience is people who are beginners, semi-educated, and highly educated in finance. Beginners can be people with a lot of money or people with very little. Being rich has more to do with how you spend your money and less to do on how much you make.

CONCLUSION:

This is a book that completely changed the way I think about money. This book grabbed me by the shoulders, shook me, and left me wide awake. There are some powerful truths in this book.

Now I cringe when I hear about family and friends of mine buying bigger liabilities. Like homes, cars, and consumer debt. While I’m tempted to buy into these things, instead of cash-generating assets Rich Dad’s message comes into my head. I know that buying assets first requires more self-control but the freedom in the future will be worth it.

This is the third book of Robert Kiyosaki, that I’ve read. Yes, there are things that he repeats, over and over such as “gold will be here long after, elites with their “fake money”. Therefore gold is God’s money that we can trust into.

This is an awesome book. What a better world it would be if 20% of the public could only learn what is in here! I appreciate the straight forward writing style as well.

I’ve read several of the Rich Dad books, including the original Rich Dad, Poor Dad. Some of them are repetitive and that’s a theme you’ll see in pretty much all of them.


In Fake, there is some repetition from previous books but it’s not obnoxious. It’s actually kind of necessary. Matter of fact, if you haven’t read a Kiyosaki book before. It will be very beneficial. You should at least read Rich Dad, Poor Dad, in my humble opinion.

There is a lot of internal repetition. Kiyosaki reiterates a lot in this book. I know that annoys some people. But we have to understand how learning happens. It happens through repetition. You’ll see the same charts and graphs half a dozen times throughout. You’ll see direct quotes from earlier chapters.

It’s through this process that important points sink in. Especially if you are reading the book little by little. I listened to the book on Amazon audible. On the other hand, the editing in the written book is indeed quite poor. The grammatical mistakes are far too many.

Fake is written in plain language. That’s what I appreciate. Yes, more complicated detail and jargon could be used. But again, someone new to this area of reading will be overwhelmed quickly.

The good news is, Kiyosaki, recommends additional reading. Where you can find some more in-depth explanations. With plenty of financial industry jargon. Some of which I’ve already read. I agree with him wholeheartedly. We all have to start somewhere. This is a good place to start.

What this book is not:

A step-by-step guide to becoming wealthy. The reality is, there are plenty of books that claim to be that and none of them actually are. Kiyosaki is quite clear that this book is NOT such a guide. It’s a guide to recognizing that most of our education is worthless when it comes to finances. It gives somewhat of a road map to get a real financial education.

Something I appreciate about Kiyosaki is, despite his critical outlook on a lot of people. He has the same criticism of himself. He admits to his failures (and even said how stupid he was to even try some of the things he did). Too often, successful people toot their own horn about how wonderful they are. They tend to gloss over their past mistakes. Kiyosaki does not do this. He’s probably one of the more down to earth writers out there.

Admittedly, my two favorite chapters are:
  • Ch. 11 How Going to School Keeps People Poor
  • Ch 12 Entrepreneurs in Education
  • Ch 18 How to Prepare for a Brighter Future
  • Ch 19 How to Soar With Eagles…in a World Full of Chickens

Overall, I do think this is a worthwhile read, even if you’ve been reading similar books for awhile. I think the greatest benefit comes to those who are first waking up. To the realities of our education and financial system. But that doesn’t mean it’s a waste for others.

What are your thoughts? Have you read any of Robert Kiyosaki’s books? Leave your comments if the sections below.

Also, I invite you to follow me on social media and sign up for my email list.

 

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FAKE: Fake Money, Fake Teachers, Fake Assets: How Lies Are Making the Poor and Middle Class Poorer

$12.24
4.9

Content

5.0/5

Quality

4.8/5

Price

5.0/5

Pros

  • informative
  • straight to the point
  • trustworthy
  • comes in multiple formats

Cons

  • redundant
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