Book Review: Rich Dad, Poor Dad

My nerdy side loves reading up on stuff about personal finances. As far as I'm concerned, you can never have too much wisdom in that area, so bring it on! I had heard great things about Robert T. Kiyosaki's "Rich Dad, Poor Dad" so it was hovering at the top of my list of non-fiction goodies to digest this year.




The short of it? I think this is a fantastic read. I really like the overall message of the book, which is how to get out of the rat race of the middle class and start thinking like a rich person. I love this concept because that is exactly why my husband and I are busting our butts right now. Sure, we're broke today, but we're not sitting still. We're heading for rich.

Kiyosaki was raised in Hawaii and tells of how he grew up with two dads, his "rich dad" and his "poor dad." His own father was the "poor" one and the father of his best childhood friend was his "rich" dad. Both were great men, but Kiyosaki was challenged with polarizing views on money and success between the two of them. His poor dad was a big believer in education and the importance of getting a good degree and finding a secure job so you can make a good income. (Is any job really all that secure these days?) His rich dad argued that we need more than education. We aren't taught anything about personal finance in school. (Think about it - when did you ever have a class on how to handle money?) So naturally, any financial education a child receives is left up to his parents. Rich dad maintained that finding a "secure job" was not the answer. Learning about money and how to make it work for YOU is the real solution.

Now Kiyosaki's own father wasn't what we think of as "poor." He wasn't necessarily struggling to put food on the table, but he simply thought like a "poor" person thinks... make the donuts, pay the bills, make the donuts, pay the bills. Never getting any traction, like a mouse in a wheel. He was highly educated and well respected, but found himself in this perpetual rat race. "One of the reasons the rich get richer and the poor get poorer, and the middle class struggles in debt is because the subject of money is taught at home, not in school . . . Schools focus on scholastic and professional skills, but not on financial skills. This explains how smart bankers, doctors and accountants who earned excellent grades in school may still struggle financially all their lives. Our staggering national debt is due in large part to highly educated politicians and government officials making financial decisions with little or no training on the subject of money."

It's often hard for a family with an income of $46,000 (what the average American household makes) to understand how a family making twice that or more struggles living pay check to pay check. "If only we made this much more, than we'd be OK." The truth is, when we make more, we spend more. Dave Ramsey talks about how most Americans take a $300/month raise and immediately turn it into a $400/month car payment. Car payments have become a way of life and are poison to the middle class. They keep the middle class... in the middle class. And that's exactly why the hub and I don't play that game anymore. So it's not all that difficult to imagine how a high income earning doctor or lawyer can get caught up in the race. Make more money, get more stuff. Make MORE money, get bigger better stuff. And on and on...

So obviously, book smarts and lots of letters after your last name mean nothing when it comes to handling money wisely. Hello, I'm a CPA for crying out loud. I was well educated on accounting for money. I learned how to account for different transactions and how they are presented on financial statements and recognized on tax returns. But never in any of my undergraduate or graduate classes did I learn anything about personal finance. Or even wise financial decision-making in business, for that matter. I simply learned how to properly present what's already there. So what we're ultimately left with is what we learned from our own parents. Even if your parents said very little on the subject, you learned a great deal just from watching how they handle money.

My parents were (and still are) very responsible with money. As far as I could tell, they were a good hybrid of savers and spenders. Definitely not hoarders and definitely not over-spenders. And my Dad tried to teach me the importance of saving for retirement. I say *tried* because while I totally understood and agreed with the concept, it wasn't something I was able to get all that excited about at the time. And though I like to think of myself back then (in my teenage years) as being well grounded and self-aware, I know that I, like many young adults these days, felt a sense of entitlement when it came to having stuff. I wasn't a spoiled brat, but I do think I somehow developed this I-deserve-this mentality. A little materialistic? Yeah, probably. My parents were great examples, and I had a few pages out of the manual on being responsible, but I was lacking the motivation to win (not to mention the real definition of winning with money) and the self-discipline to say no. And thus began my early adulthood and early years in marriage... on the quest for stuff (because the accumulation of stuff means you're winning, right?) and continually trying to out-earn our stupidity.

Thankfully, there is a movement to get sound financial education in schools, but much like sex education, parents are ultimately responsible for teaching their children. My gosh, if you teach your kids nothing else, please teach them about money and sex! No two things are more spiritually connected or potentially detrimental. Teaching our (future) kids about money is something the hub and I are SO excited about. We've got lots of great ideas and that's another post for another day, but yes it's something we consider to be extremely important. The fact is, however, most people grow up simply with the "get a good education so you can get a good job" mentality. And that's just not enough. They fall it to the rat race with no hope of escaping.

So what is the "rat race?" Kiyosaki explains that the poor and middle class work for money. And it's fear that keeps most of them working at their jobs - fear of not being able to pay bills, fear of losing their jobs, fear of not having enough. So we therefore become slaves to our money. Slaves to our employers. Along with fear, greed steps in. "Once we get that paycheck, greed or desire starts us thinking about all the wonderful things money can buy. The pattern is then set," taught Kiyosaki's rich dad. "Offer them more money, and they continue the cycle by also increasing their spending. This is what I call the Rat Race."

Rich dad went on to explain that the "rich" have a different worldview. They make money work for them. The book goes into a lot of detail about how the rich focus on money-making assets, having a balance sheet view. Whereas the poor are always focused on the income statement - money going in and money going out. Now, I'm an accountant so all this balance sheet and income statement talk made total sense to me. I don't know how easy it would be to grasp if you don't stare at financial statements all day like I do! But I think it's written in a way that anyone could understand the key points here. One point in particular is that the poor tend to buy liabilities that they think are assets... like cars. That's not to say you shouldn't buy a car! But don't fool yourself into thinking you're investing in an asset. And rich people of course buy cars. But they understand that "stuff" is just stuff. They don't immediately run to buy more and more stuff as their money grows. They understand and practice the concept of delayed gratification. This is a huge distinction between the rich and the poor. Kiyosaki even argues that your own house is not ultimately an asset. True assets earn you money. Your house doesn't earn you money, it costs you money. Even if you own it free and clear, it still costs you. You're not making any money off of it. No, you're continually repairing it and improving it.

The book goes on detailing how differently the rich see things than most of us do. As I mentioned, the rich have a "balance sheet" mentality instead of focusing on income and expenses. The rich pay themselves first. They have very little or no debt. And they understand the importance of giving. Kiyosaki adds, "My rich dad gave lots of money away. . . He knew that to receive money, you had to give money. Giving money is the secret to most great wealthy families." None of this rich-people-thinking was necessarily new information for me (since Dave Ramsey has been drilling it into my head for the last couple of years), but I really loved the author's approach to this concept. At the end of the day, winning with money is largely about behavior rather than know-how. You have to change the way you think.

Where the book leaves me going, "Huh?!" is when Kiyosaki goes into detail on how he personally invests and finds opportunities. He is a huge risk taker, which has often brought about great returns for him. But he's also admittedly gone broke over and over again. OK, I only want to go broke once (been there), figure out what the hell I did wrong (done that) and then never do that again. I don't buy into the idea of making high risk investments and leveraging debt to make quick returns. I'm a crockpot, not a microwave. Sure, I may never see some of the huge payoffs that a big risk-taker sees, but I will avoid the heartache when an investment turns sour. And hell if I'm putting my family's security at risk in an effort to make a quick buck. Building and sustaining wealth takes time. And we certainly won't be using debt as a "tool" to build wealth. So on his investment strategies, I have to say, "not for me, Mr. Kiyosaki."

Investing differences aside, I think the overall premise of the book is excellent. If nothing else, it'll challenge you to think about money in a completely different way and really brings light to the fact that NO ONE is teaching our kids about money. It's a very entertaining and quick read. Yes, there's a good bit of financial jargon in there, but I don't think it's anything the average reader couldn't grasp. Grab this book and get out of the rat race!



Next Up: "Strong Fathers, Strong Daughters" by Meg Meeker, MD

Previous: "Sex and the Soul of a Woman" by Paula Rinehart

Book Review: Sex and the Soul of a Woman

I've been flying through books this month, so I've decided to up my personal reading challenge for 2011. I was originally pledging to read 25 non-fiction books this year, but at the rate I'm going, I doubled it to 50! Quite a goal... but easily attainable if I keep this pace. For whatever reason, I have this incredible thirst right now for knowledge and wisdom - whether it's for spiritual growth or learning more about personal finances... I just can't get enough! So uh, expect more book reviews. And don't forget to come be my buddy on Goodreads if you're a reader too!

The title of this latest book has you curious, doesn't it?! As you may or may not remember, the hub and I are mentors with the pre-marital program at our church. We're basically paired up with one couple at a time and work through an 8-week "course" with them, preparing them for the great adventure that is marriage. One of the subjects we tackle is of course sex and intimacy. I'm sure that's frightening for some, but it's actually an awesome, awesome session. One of the brides-to-be we mentored mentioned this particular book to us, saying it had completely opened her eyes to God's intentions with sex and the sacred beauty that is female sexuality. Christians are always hammered with the no-sex-outside-of-marriage idea. It's just one of those line items on the list of things "good Christians" don't do. But, why? I had answers, but I wanted more. Months later, I recalled this particular bride's recommendation and ordered a copy of Paula Rinehart's "Sex and the Soul of a Woman."




"If sex is a fire, God brought the matches." That's one of my all-time favorite quotes from our pastor at church. We so often want to exclude God from any definition of sex, but he created it. And who knows more about sex than its creator? Yes, this book helps the reader understand why God put boundaries around sex. But Rinehart doesn't deny women's sexuality. "Nothing on the planet is more essentially our birthright than our sexuality - the pleasure and beauty of being female." But she goes on to argue that when sex occurs outside the bonds of marriage, it is cheapened.

Everywhere you look, it seems as though society is telling women that they need to toughen up and behave like men. We should be able to have multiple sex partners freely without feeling a thing. So then you have young women everywhere attempting to amputate their heart from sexual relationships. Sure, you may ultimately become numb to feeling anything... but it's not possible for a woman to only be physical with no strings attached. And as Rinehart explains in great depth in her book, God intended it that way. "God made women to experience the joy of lasting, enduring relationships with men. That we cannot deaden our heart successfully is the best apologetic I know for the truth of how God made us."

Opening your heart and mind to the idea that God wants nothing but the best for you is the first step in understanding God's intentions here. "If you can sense the great, good heart of God in this, you will understand why his desire is to reserve this sort of intimacy as the one place of human sanctuary in your life where nothing but blessing touches you." Sex was created as the "superglue of the soul." God's not trying to rob of us something, he's trying to preserve something incredible for us. Yet most of us, in our best attempt to be "normal," just do what feels right. I mean, everyone's doing it, right?!

Yeah well, look how screwed up the world is. Maybe we shouldn't be taking our cues from Hollywood or even our peers. They had a segment on the Today Show this morning asking if marriage was becoming obsolete, in reference to all the recent Hollywood starlets getting knocked up before getting married. Seriously? I can just see God doing a huge eye roll from his throne. But truthfully, I think it breaks his heart. What we do with our bodies does matter - it matters to God. "Understanding how a man and a woman are bonded in the sexual experience is really built on the significance of the body itself," says Rinehart. "The living God revealed himself in a body, and what we do with our bodies matters." Wow. Convicted, much?

I truly loved this book. It's not just about explaining the boundaries around sex and why they exist. It introduces and expands on God's greatest desires for us, what sex is really meant to be, and guides us through beginning to heal our hearts from our sexual pasts. And most importantly, we learn how truly powerful our sexuality is as a woman. "The beauty, allure, and sexual power you hold as a woman are holy things. They can bless beyond your wildest dreams or, as the biblical writer of the ancient proverbs observed, destroy everything you hold dear. The choice is yours. How will you use your power?"

The last few chapters discuss being able to recognize and love a truly good man. The thing is, sex outside of marriage clouds our judgment. We expect too little from men. "Allowing sex to be part of a dating relationship invites men to be their worst selves." It's not only cheating ourselves, but it's also disrespectful to the guys too. Rinehart says that men will rise to the level of our expectations. They are capable of much more.

I've always felt heavily convicted when it comes to sexual boundaries, but now I have a much better understanding of their spiritual significance. And it has nothing to do with unwanted pregnancies or STD's. All I can say is, where the hell was this book 20 years ago? This should be required reading for every pre-teen girl. Yes, it's a mature read, but I think it's a perfect book for a mother and daughter to read through together. What a GREAT way to open a good dialogue with your daughter about sex. Yes, they'll probably learn the mechanics in school and maybe even be encouraged to "abstain." But help them understand why their sexuality is so sacred and worth protecting. It's directly connected to their soul, their God.

Every woman should read this book. I'm grateful for what I've learned from this book. Heck, if we have a boy someday I'm going to make him read this. He needs to understand the value of a woman. Shoot, this should be required reading for anyone breathing. There are few subjects more sacred.


Next Up: "Rich Dad, Poor Dad" by Robert T. Kiyosaki

Previous: "48 Days to the Work You Love" by Dan Miller

Book Review: 48 Days to the Work You Love

One of my go-to reading lists is on Dave Ramsey's site and one of the books he mentions at least 10 times on his radio show on any given day is Dan Miller's "48 Days to the Work You Love." Dave's always giving out copies of this book to callers who are in an income crisis or feel lost in their current job situation. I bought the book months ago for my husband when he was in the middle of his job hunt. Of course I soon realized I should've bought the audio version because he just isn't a reader! I told y'all before, he loves to soak up information, but he just doesn't do books. So with my new goal of reading lots of good non-fiction for added wisdom, this was an obvious early pick. Well for one, we already had it on hand and secondly, after listening to Dave recommend it over and over and OVER again, I was curious.



Author Dan Miller is a professional career counselor and in "48 Days to the Work You Love" he takes the reader on a journey to discover his true calling in life. This isn't strictly a how-to-find-a-job book. It's about unveiling your God-given talents and skills and leveraging those to build a new "life plan." In our (American) society, our lives tend to revolve around our work - our jobs. Work takes the bulk of our time, we let it define us and it allows people to make a list of assumptions about us, based on what we do. Everything else - family, church, community, recreation, and personal development - takes a back seat. But Miller suggests a total paradigm shift here... to where "work" is simply one component of our lives and not the heavy front-runner. He contends that success in all these other areas (family, church, etc.) are equally as important. "Your goal should be to plan your work around your life, not your life around your work."

With this holistic approach, Miller encourages those out of work to take special care of other areas of their life while looking for a job. As the hub and I are well aware, it's very easy to become depressed and down on yourself when you're out of work for an extended period of time. This is especially true for men - their "self-worth" is so wrapped up in their work. While job-hunting, it's crucial to exercise your body and your mind, to stay in touch with friends, to nurture your marriage, and play with your kids. Not doing so can get you in a slump in a hurry. But success in these other areas of life will likely spill over into your work, and you'll begin to find more success in your professional life. Miller spends several chapters on finding a job and gives some really great advice here. He also has lots of additional resources online that many will find helpful. The version of 48 Days that I read has since been updated, so I know that he addresses the current down market in his latest edition. But even in a bad market, the advice I read still stands. You may have to fight a little harder, but he still provides you with the tried and true tools to do so (in the older version I read).

But as I said, this book isn't only for those currently seeking employment - it's for anyone who's ever had a dream. (Translation: everyone.) It's about discovering your calling and making a plan to carry it out. Perhaps your plan is to be your own boss someday! Miller noted that most of us have had several creative ideas but never followed through on them. I know I have! We often talk ourselves out of running after a dream because of fear or uncertainty. We're not smart enough, or our idea's not good enough, or our parents will discourage us, or... I'm sure you have your own list. But Miller insists that ideas are a dime a dozen. "It's not even the quality of the idea but rather the quality of the action plan brought to that idea that determines success." You don't need some bright and shiny new idea that the world has never seen. If you've got a passion for something, you just need a plan.

I was reading Jon Acuff's blog the other day and he wrote that we're becoming the "I'm, but" generation... as in "I'm an accountant, but I want to be an artist." Ha, I know that holds true for me! I'm always thinking, I know I'm good at what I do... but it's not what I'm meant to be. Miller's book addresses this - God giving us certain skills even though it's not ultimately what we're called to do. I personally feel like I'm on a good path to where I want to be, but I must exercise patience. Is what I'm doing my ultimate passion? Absolutely not. But I do not *hate* it and I'm in fact very grateful for it. I know the skills I'm practicing and continually improving will follow me wherever I go. But for now, our financial goals take precedent in our lives and my current job affords us to continue to make strides there. No, money certainly isn't everything - Miller goes into this over and over. Money is never enough compensation - we need for our work to have some kind of "meaning." But sticking to and reaching our current financial goals will afford us GREAT opportunities in the future. Opportunities to do what I really want: help other people.

That's not really defined, I know. Still working on that. But this book has definitely made me think more about my dreams and how I can use where I am now to make progress toward realizing those dreams. The fact is, God has a calling for us all - we just have to listen and seek it out. And it's also important to know that every job is of great importance. Whether you're making the donuts, answering phones, or negotiating million dollar contracts... every job has purpose. God's glory can be seen in every job.

No matter where you are in your career, I highly recommend this book. It's time to realize that a job is not just a paycheck. Discover yourself and make a plan to live out your dreams, passions, and God-given skills. It's there that you'll truly find the work you LOVE.

Next Up: "Sex and the Soul of a Woman" by Paula Rinehart

Previous: "Questioning Evangelism" by Randy Newman

Book Review: Questioning Evangelism

As promised, I'll be reviewing each of the books I get through as part of my read-lots-more endeavor. Are you on the edge of your seat? I know you are! Last week I finished up "Questioning Evangelism" by Randy Newman. No, not the Randy Newman that writes feel-good Disney songs. This is Christian author and long-time Campus Crusader, Randy Newman.

The hub and I were actually given this book months ago at church and I finally picked it up to read recently. The title can be a little confusing. Well, at least it was for me - you're probably smarter than I am. At first glance I thought it referred to questioning the act of evangelism. But within the first page I realized this book was about using questions when practicing evangelism. Randy's introduction begins, "You may think this book is just plain weird." Good point, I think. If you're a brand new Christian or tend to have a more "politically correct" view of religion, this book may freak you out a bit. Shoot, just the word "evangelism" scares the hell out of some people. But the book addresses a lot of the common secular world attacks on the Christian faith and how to answer them - or better yet, how to come back with a more engaging question rather than a straight, conversation-ending answer.

For example, so many people - even Christians - get hung up on the claim that we can only get to God through Jesus. Randy responds, "Try asking nonbelievers, 'If Jesus is not the only way to salvation, why, then, did he have to die?' You'll likely draw blank stares or create tied tongues. But until one understands the answer to that question, one will not see the reasonableness of Jesus' 'I am the way' claim."

Perhaps Randy's greatest point throughout the book is that many of our quick answers to accusations about Christianity and the Bible "fail to compel belief because they fail to address the real issue." We have to dig a little, with questions, to get at the root of what people are after. Not everyone's after a history lesson. Some people are hurting and they're looking for justification for their anger. Some people are searching for a reason to hope. And many people, even though they're asking questions, aren't ready for answers. They're more interested in getting their objections out than understanding; they're not willing to listen. Randy says, "Until someone is more interested in truth than in airing his or her own opinions, it's best to talk about the weather."

More than anything, this book is about successfully relating to people when it comes to sharing God's word. With chapter titles like "If Jesus Is So Great, Why Are Some of His Followers Such Jerks?" Randy addresses a lot of the big obstacles that stand between believers and nonbelievers. And he obviously does so with a fair dose of humor. From his table of contents, you'll see that he tackles a lot of the big items addressed by books like The Case for Faith, so the book definitely touches on the importance of apologetics but kind of already assumes the reader knows his stuff. But no matter the questions we receive, whether genuine or masking anger, this book proposes that we be "more engaging and less confrontational in our sharing of the Good News."

I think Christians should definitely put this book on their short list - lots of great ideas and advice here. It's especially great for people who aren't really sure how to go about sharing their faith or how to answer questions that may come their way. I know I'm totally one of those... as confident as I am in my own faith, I'm not always so sure how to communicate it or defend it, so it definitely was a great read for me personally. If that's you, I'd definitely grab this book. It's an easy read with lots of good meat. If any of you have also read this book, I'd love to know your thoughts!

Next Up: "48 Days to the Work You Love" by Dan Miller

Amazing Grace? Amazing Book.

I just finished this book early last week for our couples' small group meeting last Thursday. We usually do studies that take place over several weeks, but this time we did a "book club" like meeting discussing Philip Yancey's "What's So Amazing About Grace?" If the idea of reading a Christian book freaks you out, this is a great one to start with. It's not a new book, but it was new to me. It's one of the best books I've ever read. The author is so real and honest about his own struggles with comprehending God's grace. He has so many real world stories and examples that remind us what a truly grace-less world we live in.

This book would speak to anyone and everyone I imagine, but I think it's especially powerful if you're someone who has struggled with forgiveness. Especially letting go of that stronghold that someone from your past has had on you. He speaks a lot to finding the strength to forgive the most undeserving, but also to living a life with an attitude of grace in general. In the second half, Yancey digs deeply into how the Christian image has been severely damaged by churches, politicians, and extremists' total lack of grace. How quickly we forget that Jesus didn't hang out with the righteous; he dined with and kept the company of sinners. He was love and grace personified.

There are so many fantastic quotable lines in this book, but my absolute favorite...

"There is nothing we can do to make God love us more.

There is nothing we can do to make God love us less."

So many people, even Christians, have the misconception that our salvation is dependent on what we do. If that's you, please read this book. Every one of us thirsts for grace. And here God is, waiting for us with his arms wide open. "God's arms are always extended; we are the ones who turn away."