Building Wealth with Borrowed Money: Robert Kiyosaki's Financial Strategy

This article discusses how continuous financial learning can help people make smart financial decisions. It uses Robert Kiyosaki's guest appearance in the podcast (video embedded) to explain the importance of understanding global economics, how politics affects the economy, and how to adapt to changes in the BRICS alliance. Kiyosaki says that people should change the way they think about money, and compare it to 'toilet paper', but gold to god's money in the podcast. 

Read the summary and watch the video for inspiration.

Who is Robert Kiyosaki?

Robert Kiyosaki is a Japanese-American entrepreneur and businessman. He is the founder of Rich Global LLC and the Rich Dad Company, a private financial education company that provides personal finance and business education to people through books and videos. He is also the creator of the Cashflow board and software games to educate adults and children about business and financial concepts.

Kiyosaki is the author of more than 26 books, including the Rich Dad Poor Dad series, which has been translated into 51 languages and sold over 41 million copies worldwide. He is a controversial figure, with some critics questioning his credentials and business practices. However, he remains a popular and influential figure in the world of personal finance.

Introduction

Robert Kiyosaki is a well-known financial expert who has written a popular book called "Rich Dad Poor Dad." He recently gave a podcast where he talked about the economy, politics, and the importance of financial education. This article will summarise the main points of his podcast and help you make better financial decisions.

Key idea: 

Robert Kiyosaki's financial insights, as shared in the podcast, centre on the concept of utilising borrowed funds to acquire assets and generate income. The underlying theme emphasises the significance of financial education in making informed decisions and accumulating wealth through strategic borrowing.

The central message is that borrowing, when employed judiciously, can serve as a potent tool for building wealth and achieving financial success. Continuous financial education, which involves self-education through reading and associating with like-minded entrepreneurs, remains the cornerstone for unlocking the potential of leveraging borrowed capital for asset accumulation.

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Robert Kiyosaki's Financial Strategy Books

Robert Kiyosaki has written many books about money and investing. Here are 5 of his most popular ones:

• Rich Dad Poor Dad: This book is about how to think about money like the rich do.
• Cashflow Quadrant: This book explains the four different ways that people make money.
• Rich Dad's Guide to Becoming Rich Without a Job: This book shows you how to create wealth outside of a traditional job.
• Why We Want You to Be Rich: This book is a collaboration between Robert Kiyosaki and Donald Trump.
• Rich Dad's Rich Kid, Smart Kid: This book teaches parents how to teach their children about money.

To check out his books on Amazon, click here

1. The Power of Financial Education

Robert Kiyosaki's extensive military experience lends credence to his assertion that financial education is a powerful tool for empowerment. The phrase "that was very, very enlightening" aptly captures the transformative potential of knowledge in navigating financial challenges.

The podcast highlights the importance of continuous financial education. Kiyosaki's remarkable journey from military school to financial education advocate serves as a powerful reminder for individuals to invest in their financial literacy. 

2. The Global Chessboard: Navigating Economic Shifts

Robert Kiyosaki believes that the world is undergoing a major economic transformation and that individuals need to understand this in order to make wise financial decisions. He urges people to pay attention to the geopolitical shifts that are shaping the economy. 

Kiyosaki believes that understanding the battle for economic supremacy is essential for anyone who wants to protect and grow their wealth.

3. Economic Troubles, Military Actions, and the Printing Press

In the podcast, Robert Kiyosaki discusses the connection between economic problems, warfare, and money printing. He says that when the economy is bad, the yuan and the dollar will be in trouble, and this will lead to war. 

He also warns that governments may create conflict to distract people from economic problems. This shows that we need to be careful about our money when the economy is bad.

4. Lessons from the BRICS Alliance

The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, has emerged as a significant force in the global economy. India, in particular, has attracted attention for its rapid economic growth and potential to become a major player on the world stage.

Kiyosaki's emphasis on India's strategic position highlights the country's importance in the BRICS alliance and its growing influence in the global economy. He encourages individuals to recognise India's potential as an investment destination and consider incorporating emerging markets into their portfolios.

5. Embracing Capitalism

Robert Kiyosaki repeatedly emphasises the importance of embracing capitalism in the podcast. He encourages individuals to break free from conventional thinking that may impede financial growth. This call for a paradigm shift is not just a theoretical exercise; it is a practical strategy for achieving wealth.

Kiyosaki's message goes beyond simply endorsing an economic system; it advocates for a capitalist mindset. This mindset encourages taking risks, thinking strategically, and fostering an entrepreneurial spirit.

Embracing capitalism is not just about supporting an economic system; it is about adopting a mindset that promotes financial growth. Kiyosaki's message challenges individuals to break free from traditional thinking that may hinder their financial success. The podcast encourages listeners to reassess their financial philosophies and explore avenues that align with the principles of capitalism.

Conclusion

Robert Kiyosaki advocates for using borrowed money to acquire assets and generate income, emphasising the importance of financial education in making sound borrowing decisions. He believes that continuous financial education, through self-education and networking with like-minded entrepreneurs, is crucial for unlocking the potential of leveraging borrowed capital to build wealth.

While Kiyosaki's financial strategy is not a universal approach, it offers valuable insights for those considering using debt to invest. Carefully evaluating one's financial situation and goals is essential before employing borrowed money.

National Book Week in PNG: Fostering a Culture of Reading and Learning

Every year in August, Papua New Guinea (PNG) hosts a remarkable educational event known as National Book Week. Since its inception in 1980, this event has been celebrating the profound significance of books and reading as sources of both learning and enjoyment. 

Organised by the PNG goverment through the Office of Libraries and Archives, the National Book Week serves as a platform to encourage people of all ages, especially children and youths, to immerse themselves in the enriching world of literature. 

With an array of thought-provoking themes over the years, the PNG National Book Week strives to inspire individuals to read, grow, and create- fostering a culture of literacy and imagination.

Themes of PNG National Book Week

Each year, National Book Week in PNG revolves around a unique theme that encapsulates the core essence of the event. These themes mirror the broader objectives of the country's educational initiatives and the transformative potential of reading. 

Here are the themes that have shaped the event in recent years, presented in ascending order:

2017 - Libraries for National-Building:

This theme emphasized the pivotal role of libraries as essential institutions for societal development. It underscored the significance of accessible information in propelling progress within the nation.

2019 - Upgrade Your Knowledge (IQ):

Focusing on enhancing intelligence and knowledge, this theme accentuated the power of books in driving personal growth and intellectual development.

2020 - Creating Greater Access to Information through Libraries:

Aligned with the goal of making information universally accessible, this theme highlighted libraries as gateways to knowledge and empowerment.

2021 - Lockdown, Stay Safe, Read Books:

In response to the global pandemic's challenges, this theme encouraged reading as a source of solace, learning, and personal growth during uncertain times.

2022 - Choose Your Destiny - Read: 

Centered around the power of choice, this theme emphasized how reading empowers individuals to shape their own destinies by embracing diverse perspectives.

2023 - Click on a Book, Pick a Book:

Encouraging the integration of the digital age, this year's theme celebrated the timeless joy and inspiration found within both traditional and digital reading experiences.

PNG National Book Week 2024

Last year's (2023) delay in theme release created challenges for teachers and students, highlighting the importance of timely communication. 

In 2023, the themes "Click on a Book, Pick a Book" and "Read, Grow, Inspire" caused confusion due to their simultaneous circulation. This underscored the need for enhanced coordination.

This year, the focus is on transparency and preparedness. The theme for 2024 will be announced well in advance to ensure educators and participants have ample time to engage creatively. 

Why not make suggestions for the 2024 theme in the comment below!

National Book Week in PNG stands as a beacon of inspiration, inviting people of all ages to embrace the world of literature. By nurturing a passion for reading among children and youths, we lay the foundation for a future of knowledge, creativity, and growth. 

Empowering Local Writers and Bloggers: A Call to Action

As National Book Week continues to ignite the passion for reading, it's crucial to further nurture local literary talent. 

The PNG government should take a proactive role in supporting and promoting local writers and bloggers. 

By providing platforms, funding, and recognition for their works, the nation can cultivate a diverse and vibrant literary landscape that reflects its unique culture and experiences.

Engaging Local Talent with Schools and Teachers

To truly instill a love for reading, writing, and creativity, collaboration between National Book Week and educational institutions is imperative. 

This collaboration could involve hosting writing workshops, author visits, and interactive sessions between local writers and students. 

By connecting local talents with schools and teachers, the event can inspire the next generation of readers and writers, fostering a dynamic exchange of ideas and experiences.

PNG Government Improve Library Services

While National Book Week celebrates the magic of reading, it's essential to address the state of libraries in PNG. The government should take on the challenge of enhancing library services across the nation. 

This includes modernising library facilities, expanding collections, and providing resources that cater to various age groups and interests.

A robust library network empowers communities, especially in remote areas, by granting access to knowledge, fostering learning, and igniting imaginations.

Conclusion - National Book Week in PNG

The event's themes reflect the evolving landscape of education and technology while celebrating the timeless joy of reading. As we move forward into the upcoming years of National Book Week, let's celebrate the transformative power of books and writing, cultivating a culture of lifelong learning and expansion of horizons. 

The journey ahead includes empowering local writers, engaging with schools, and challenging the government to uplift library services, paving the way for a more literate and enlightened society in Papua New Guinea.

7 Habits of Highly Effective Teens PDF

The 7 Habits of Highly Effective Teens is a book written by Sean Covey, which focuses on helping teenagers develop the skills they need to be successful in life. The book is based on the principles outlined in Stephen Covey's book, The 7 Habits of Highly Effective People, which is a bestselling classic that has helped millions of people around the world achieve their goals and live fulfilling lives.

The 7 Habits of Highly Effective Teens is designed to help teenagers develop the habits they need to be successful in life. These habits include being proactive, setting goals, managing time, working with others, developing a positive attitude, and more.

Here is the summary of the book review, you can also download the summary points in PDF - click download.

Habit 1: Be Proactive

The first habit of highly effective teens is being proactive. This means taking responsibility for your own life and making things happen, rather than waiting for them to happen to you. 

Being proactive means setting goals and taking action to achieve them, rather than sitting back and letting life happen to you.

Habit 2: Set Goals

The second habit of highly effective teens is setting goals. This means having a clear idea of what you want to achieve in life and working towards it. 

Setting goals helps you stay focused and motivated, and it also helps you measure your progress and see how far you've come.

Habit 3: Manage Time

The third habit of highly effective teens is managing time. This means being aware of how much time you have and how you're using it, and making sure you're spending your time on the things that are most important to you. 

Managing time also means learning how to prioritize your tasks and activities so that you can get the most important things done first.

Habit 4: Work With Others

The fourth habit of highly effective teens is working with others. This means building strong relationships with the people around you and learning how to communicate effectively. 

Working with others also means learning how to collaborate and compromise, and it means being open to feedback and criticism.

Habit 5: Develop a Positive Attitude

The fifth habit of highly effective teens is developing a positive attitude. This means learning how to think positively and see the best in people and situations. 

Developing a positive attitude also means learning how to overcome negative thoughts and emotions, and it means learning how to be resilient and bounce back from setbacks.

Habit 6: Seek First to Understand, Then to Be Understood

The sixth habit of highly effective teens is seeking first to understand, then to be understood. This means learning how to listen actively and understand the perspectives of others, before expressing your own views.

Seeking first to understand also means learning how to communicate effectively and build strong relationships.

Habit 7: Continuously Improve

The seventh and final habit of highly effective teens is continuously improving. This means learning how to learn and grow, and it means constantly working to improve yourself and your skills. 

Continuously improving also means learning how to set new goals and strive for excellence in everything you do.

Conclusion

The 7 Habits of Highly Effective Teens is a powerful tool that can help teenagers develop the habits they need to be successful in life. 

By being proactive, setting goals, managing time, working with others, developing a positive attitude, seeking first to understand, then to be understood and continuously improving, teenagers can achieve their goals and live fulfilling lives. 

These habits are not only beneficial for teenagers but also for adults as they are the basic principles of success. So, if you want to be successful in life, start developing these habits today.

                Download motivational resources on PNG Insight

7 Habits of Highly Effective People PDF

The 7 Habits of Highly Effective People is a self-help book written by Stephen Covey and first published in 1989. The book has sold over 25 million copies worldwide and has been translated into 38 languages. 

The 7 habits outlined in the book are intended to help individuals achieve personal and professional success and are based on the idea that effectiveness is a habit that can be learned and developed.

Here is the summary of the book review, you can also download the summary points in PDF - click download.

Be Proactive

The first habit, "Be Proactive," is about taking responsibility for one's own actions and decisions. This habit emphasises the importance of being self-aware and taking initiative, rather than being reactive to external circumstances. 

By being proactive, individuals are able to take control of their own lives and shape their own destinies.

Begin with the End in Mind

The second habit, "Begin with the End in Mind," is about having a clear vision of what one wants to achieve and working towards that goal. This habit emphasises the importance of setting goals and having a plan to achieve them. 

By setting clear, specific and measurable goals, individuals are able to stay focused and motivated, and achieve their desired outcomes.

Put First Things First

The third habit, "Put First Things First," is about prioritizing tasks and activities based on their importance. This habit emphasises the importance of focusing on what is most important, rather than getting bogged down in less important tasks. 

By putting first things first, individuals are able to make the most of their time and achieve greater results.

Think Win-Win

The fourth habit, "Think Win-Win," is about creating mutually beneficial solutions in all interactions. This habit emphasises the importance of understanding that success is not a zero-sum game and that everyone can benefit from a situation. 

By thinking win-win, individuals are able to build stronger relationships and create more positive outcomes.

Seek First to Understand, Then to Be Understood

The fifth habit, "Seek First to Understand, Then to Be Understood," is about actively listening to others and trying to understand their perspectives. This habit emphasises the importance of empathy and the ability to communicate effectively. 

By seeking first to understand, individuals are able to build stronger relationships and communicate more effectively.

Synergise

The sixth habit, "Synergise," is about working together to achieve more than what is possible alone. This habit emphasises the importance of collaboration and the ability to work effectively with others. 

By synergizing, individuals are able to achieve greater results and create more positive outcomes.

Sharpen the Saw

The seventh habit, "Sharpen the Saw," is about taking care of oneself in order to maintain the ability to achieve one's goals. This habit emphasises the importance of self-care and the need to balance the physical, mental, emotional and spiritual aspects of one's life. 

By sharpening the saw, individuals are able to maintain the energy and focus needed to achieve their goals.

Conclusion

The 7 Habits of Highly Effective People is a powerful tool for achieving personal and professional success. The habits outlined in the book are based on the idea that effectiveness is a habit that can be learned and developed. 

By incorporating these habits into one's life, individuals are able to take control of their own lives and shape their own destinies. 

Whether you're looking to improve your relationships, achieve greater success in your career, or simply live a more fulfilling life, the 7 Habits of Highly Effective People is an excellent resource to help you reach your goals.

Download motivational resources on PNG Insight

Book Review: Secondary Education in Fiji – A Key to the Future by Helen Tavola

Content Summary

Helen Tavola identified three (3) areas as fundamental to the development of Ministry of Education Ministry in Fiji. Namely the Policy variables, political context and government’s Grant-in-school fee subsidy. The three areas formed the basis of her research work. 

She carried out the fieldwork in 11 schools in different geographic areas in Fiji and among wide ethnic composition. One of the social issues that stood out was the disparity in ethnicity and population of children in schools in the colonial eras and before and after Fiji’s independence in 1970. However, it is ominous that Helen’s attempts to address the three (3) issues hinges on the racial divide among the different ethnic groups and their social and economic standings in Fiji societies.

Identifiably, the Native Fijians concentrated more on subsistence and rural agriculture in the early part of developments in of the Education Ministry in Fiji. 

In retrospect, the other ethnicities view education as a way to liberate themselves and encouraged their children to actively seek further education. This resulted in the disparity in the level of education and qualification. The Native Fijians are generally less educated than the other Fiji ethnicities.

Read the complete review in PDF view below.

Book Review: An Outline of Book Review for Students

A book review outline I find very useful, especially when reviewing an academic thesis as an assessment task. If you are looking for a simple outline for your uni assessment, you'll find this outline useful too.

Establish a Background, identify the book by author, title, and publishing information.

Include some background to enable readers to place the book into context. Describe the general problem the book addresses or earlier work the author or others have done. In framing your review, you should provide some information on the author. What are her relevant qualifications and background (or lack thereof) for writing on this subject? What were his reasons for writing this book? (Often the preface contains such information.)

1. Content Summary 

1.1. Overview A book review is an essay whose purpose is to comment on a particular work bearing upon a single subject or related subjects. Provide an overview, including paraphrases and quotations, of the book's thesis and primary supporting points. The most important element about a book review to remember is that it is a commentary, not just a summary. Present an overview of the book, an outline or synopsis of the major topics, indicating the scope, the major emphasis (political, economic, intellectual, etc.) and which, if any, aspects of the subject are totally ignored.

1.2. Comparative Evaluation – a Recent Publication

What evidence is cited? Has new documentation become available? If so, identify the new documentation. Or, does the book present a novel interpretation based on previously available documents or information? Your conclusions and assessments regarding these aspects will affect your comparative evaluations of the works. You should also consider the time during which the book was written and, if evident, the author's values and biases. For example, a book on sociocultural evolution written by a conservative Republican sociologist in the 1950s (say Talcott Parsons) would be quite different than one written by a member of the American Socialist party (say Harry Braverman).co

Recommended A review of Helen Tovola's Secondary Education in Fiji - Key to Future

Note: 

*It will probably will be necessary to refer to specific portions of the books to illustrate your statements and conclusions, but it is generally not advisable to quote extensively from it. Do not try to make more points than can be accomplished thoroughly in your review. It is better to make a few points well than many points poorly. Once you have decided on the central points you intend to make, treat each one as a separate section of your review. Each section should explain the one point, supporting it with your own arguments and with brief examples from the book under review and drawing conclusions as to the meaning and importance of the point.

* The purpose of the review is to critically evaluate the text, not just inform the readers about it. Leave plenty room for your evaluation by ensuring that your summary is brief. Determine what kind of balance to strike between your summary information and your evaluation. If you are writing your review for a class, ask your instructor. Often the ratio is half and half.

2. Your Evaluation – Opinion & Discussion: Choose one or a few points to discuss about the book. What worked well for you? How does this work compare with others by the same author or other books in the same genre? What major themes, motifs, or terms does the book introduce, and how effective are they? Did the book appeal to you on an emotional or logical way?

The bulk of your review should concentrate on your evaluation of the way the author handled the issues discussed.

2.1. Describe the book: What is the overall thesis? Is it interesting, memorable, entertaining, instructive? Why?

2.2. Respond to the author's worldview: What do you agree with? And why? What do you disagree with? And why?

2.3. Explore issues the book raises: What possibilities does the book suggest? Explain. What matters does the book leave out? Explain.

2.4. Relate your argument to other books or authors: Support your argument for or against the author's opinions by bringing in other authors you agree with.

2.5. Relate the book to larger issues: How did the book affect your worldview of sociocultural stability and change? How have your opinions about the topic changed? How is the book related to the course? How did the thesis compare with other course material? What are your reactions? Did the book enhance your understanding of the issues? Be as direct as possible.

3. Conclusion - summarise the discussion 

Source - http://faculty.rsu.edu/users/f/felwell/www/Info/BookReview2.htm