Summary of Robert Kiyosaki’s “Business of the 21st Century”: Building Wealth in the 21st Century Economy
In “Business of the 21st Century,” Robert Kiyosaki presents a new perspective on personal finance and wealth-building. He argues that traditional methods of making money, such as getting a good education and working a steady job, are no longer sufficient in today’s economy. Instead, he advocates for building passive income streams through investments in assets such as real estate and businesses.
The reason why Robert Kiyosaki wrote this book was to educate people on a new way of thinking about money, and how to build true wealth in the 21st century. He was of the view that the financial education system was failing, and people were not been equipped with the right skills to thrive in the current economy. Kiyosaki wanted to change that, by providing a new perspective on personal finance that would empower people to take control of their financial future.
In “Business of the 21st Century,” Kiyosaki explains that most people are taught to think of money as something to be earned through working a job, and to focus on paying off liabilities, such as cars and houses, rather than acquiring assets. He argues that this mindset is not only flawed, but it is also the main reason why most people never achieve financial freedom. He encourages readers to change their mindset and focus on acquiring assets, such as real estate, stocks, and businesses, which generate cash flow and can lead to true wealth.
Kiyosaki also promotes the importance of creating multiple streams of income, through starting or investing in businesses, real estate investing, stock market investing and other passive income opportunities. He stresses that a diversified income is crucial for both stability and growth, and it’s key to survive in today’s economy and to achieve financial freedom.
The author also explains the difference between working for money and having money work for you, and how the power of compounding can accelerate the growth of assets and turn them into wealth. He encourages readers to start thinking like entrepreneurs and to take control of their financial future by learning how to invest wisely.
Moreover, Robert Kiyosaki emphasizes the need for financial literacy in the 21st century, where the global economy is in constant flux, with new technologies and the rise of automation, people need to be adaptable and financially resilient. According to him, those who invest in their financial education, assets, and multiple streams of income will be the ones who thrive in the 21st century economy.
Overall, Robert Kiyosaki’s “Business of the 21st Century” is not only a book but a call to action to take control of one’s financial future by thinking differently about money and investing in assets that generate cash flow and lead to true wealth. He wants to empower readers with the knowledge and mindset they need to create a better financial future for themselves and their families.