Why we want you to be rich by Donald Trump and Robert Kiyosaki is one of the best personal finance books I’ve ever read. I say that because it made me think in deeper and more meaningful ways about my plans for the future and how to reach my personal finance goals.

I took pages of notes from this book and I’ll try to summarize what I think were the best parts for you here. You can buy this book from Amazon here: Why We Want You To Be Rich. Here are my favorite parts from the best chapters in the book.

Investing to win

You hear a lot from frugal bloggers that the key to financial success is to live below your means. I decided long before reading this book that i’m completely against that idea. Living below your means is the easy slow way to growing your net worth, and its a very limited approach. The better way is to increase your means!

Robert and Donald both believe that increasing your means is the way to create wealth, and common sense agrees. Trump talks about having a winning attitude and being stubborn to the point where you never give up because you see the victory. The fear of the unknown is what keeps so many people stuck where they are. I know it has kept me from trying new business ideas.

Choose your battlefield

Not everyone is meant to be a business owner, CEO, or high net worth investor. Some people don’t want to be those things, and some people just don’t have the skill set to be in those positions. The book makes a great point, that is ok. You have to know yourself well enough to decided what you can and what you want to be. The four categories come from Robert’s Cash flow quadrant book. The are employee, small business owner, big business owner and investor. Which are you now, and which do you want to be. The book narrator asks some great questions to help you figure out where you want to go and how to get there.

Saver or Investor

Robert says that savers do not use leverage to increase their cash flow. This chapter goes deeper into leverage, what it is and how it can help you. Do you work hard for other people, or do other people work hard for you? Are you being leveraged or do you leverage others. The same goes for money. Are you using other people’s money as leverage to increase your cash flow or are you putting yourself in debt and increasing someone else’s cash flow.

Trump says that money is like a talent, it doesn’t do any good to keep it to yourself. It needs to be nurtured and developed. It takes time, hard work and practice. Fear drives savers, freedom drives investors.

Two things you can invest

Time and money. People lose money because they do not invest their time. Trump talks about learning to invest your time like it is money. You can invest your time in a financial education that will give you an advantage in the money game. Education give you control, and control is an important part of successful investing.

Thinking

A lot of this book is about teaching you how to think. There is a section where they compare a saver vs investor mentality and how they would each answer these questions. As I think about business ideas and goals I find myself answering these questions from time to time with negativity. Next time you have an idea, notice how you respond to it:

I can’t do that — vs — How can I do that
To risky — vs — How can I reduce the risk
I can’t afford it — vs — How can I afford it

Changing those negative statements into questions will change your perspective and open up huge windows of opportunity.