The rich don’t work for money, they make money work for them using intelligent investments in assets, not liabilities. They are financially literate and invest in knowledge and skills, not shiny new things. They don’t act on emotion, they act on data.
I used to like this book. Not sure I do anymore. I've learned too much to buy into what he's selling.
Yes, on the surface, the rich don't work for money, they make money work for them.
But lets unpack from there. In the last 40 years, CEO salaries have gone up over 1000%, while worker salaries have gone up 10.9%.
As he points out, savings accounts pay nothing. Half of Americans have no savings and could not cobble together $600 for an emergency.
So how are they supposed to make "intelligent investments" when they can't even afford an emergency?
And why can't they? Because the wealthy keep paying them less and paying themselves more.
The biggest problem with this book is that it's like offering a bandaid for someone whose leg has been amputated.
Sorry this was so long. I should do a book review on this one.
P.S. Didn't know you're Canadian -- so am I. Cool. :)