Comments on: Book Giveaway: Rich Dad’s Increase your Financial IQ

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Wed, 26 Mar 2008 02:07:05 +0000

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By: JustMissedOne

JustMissedOne — Thu, 20 Mar 2008 16:00:47 +0000

I got #4 wrong but not realized the employee should be paying the taxes at the end of the year since the company paid him/her cash.

By: newinvestor

newinvestor — Thu, 20 Mar 2008 03:26:42 +0000

I would say # 5…

By: Konstantin

Konstantin — Thu, 20 Mar 2008 03:02:09 +0000

#7 for me, too

By: vr6man22

vr6man22 — Thu, 20 Mar 2008 01:25:42 +0000

was a litte confused by question 4
had to read it a few times.
LOL

By: Amina Mohamed

Amina Mohamed — Wed, 19 Mar 2008 22:29:33 +0000

RE: Rich Dad’s Increase Your Financial IQ Quiz

I liked your review -and think this book might be a good idea for the novice that I am to learn more about all types of investing.

I want to move away from mutual funds through a dealer and want to self-invest.

I found #6 to be the trickiest.

Thanks,

Amina
amina@tigerlilly.ca

By: Ron

Ron — Wed, 19 Mar 2008 20:27:38 +0000

For me it was #7.

By: Robert

Robert — Wed, 19 Mar 2008 19:46:29 +0000

I just finished reading rich dad, poor dad so i didn’t find any of the questions all that difficult. I was going to buy the new book but if I can win it for free, well that will save me some money and isn’t that what this is all about?

Oh and a business IS an asset even if it is not generating income… As long as it has people (or even just you), that is an asset. Unless you classify yourself as a liability. :)

Robert.

By: Mikel

Mikel — Wed, 19 Mar 2008 13:11:04 +0000

I have to agree with others that #1 was tricky. Not because I got it wrong but because it goes contrary to R K’s teachings. Gold is probably ok but wheat is less so an asset. It does not put in cash flow until it is sold. But i still look forward to reading his book.

By: Dividendgrowth

Dividendgrowth — Wed, 19 Mar 2008 13:09:00 +0000

The first question was tricky for me, because only answer C was defined as an “asset” in Rich Dad Poor Dad Book.
I disagree with the “false” answer on number 7. Just ask Bear Stearns employees who own a large chunk of the company what they think of diversification now :-)

By: Jordan

Jordan — Wed, 19 Mar 2008 11:24:31 +0000

#1, a business is only an asset if it is producing revenue as far as I’m concerned.

By: chad

chad — Wed, 19 Mar 2008 10:42:47 +0000

Not sure if I agree with #7, I would like to read more on why this is false

By: The Financial Blogger

The Financial Blogger — Wed, 19 Mar 2008 10:28:27 +0000

I think that we can argue with #7 ;-)
I don’t think that everybody would be good at real estate or creating companies. Many people would be better off investing in mutual funds until they retire (is it me talking or the financial planner behind me? hum…)

By: Earl Flormata

Earl Flormata — Wed, 19 Mar 2008 08:41:12 +0000

#7 was the trickiest.

Warren Buffet is the most quoted, widely followed, yet most misunderstood person in the financial spotlight. You’ll note that he doesn’t “diworseify” his portfolio for the sake of simply balancing things out, but instead builds a bank that increases shareholder equity and thus shareholder value.

It’s the structure of the company that gets it to the senior exchange and properly funded to make an attempt to reach their goals. It’s not that the idea is bad, or the plan was flawed necessarily, although I’m not writing these out altogether. Without the proper setup in the beginning, and the proper mindset – diversification is doomed to fail if the foundations are built incorrectly regardless of the plan, the product, operations, or people.

I work with a boutique investment bank, and you’d be surprised how many people who try to play in the higher levels still get this question wrong – and these people are millionaire CEO’s nearing the higher end of the food chain.

By: TL

TL — Wed, 19 Mar 2008 08:28:56 +0000

#5 was trickiest for me! :D

By: Edwin

Edwin — Wed, 19 Mar 2008 05:21:15 +0000

This was pretty easy having read Kiyosaki’s other books but #1 I think gives most people trouble. I love cars but all they really do is depreciate for the most part. A collector’s car could be considered an asset as it could be worth more than you paid for it but likely it is taking money out of your pocket instead of bringing money in while you own it. Maintenance, storage, etc. unless you do something creative and charge admission to see the car or something. :)

By: Brenna

Brenna — Wed, 19 Mar 2008 05:07:52 +0000

#6 made me think for a second.

By: HB

HB — Wed, 19 Mar 2008 04:05:36 +0000

Number 7 was the trickiest.

By: Agent389

Agent389 — Wed, 19 Mar 2008 03:34:00 +0000

7. The best way to invest is in a diverse portfolio of stocks, bonds, and mutual funds.

That was by far the hardest for me to answer. This question’s answer deals mostly with risk. Or risk aversion rather. How averse to risk are you. Now that’s a very hard question. I guess it all depends on how good of a chance I stand of winning. But even still there is a chance I will loose. Almost every day I ask myself this question and almost every day I am unsure of the answer.

By: Joshua

Joshua — Wed, 19 Mar 2008 03:27:33 +0000

#1 got me. Made me really think, the others seemed kinda easy.