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1、Analytical Reading: Book ReportName: 陈科妤Class: financial translationStudent Number: 2016312218Date: In a different world Book report of Rich Dad Poor DadLast month, I read an article named the Way to Wealth, which tells us that we are struggling in the assets crisis not because of the government tax

2、ing but for our idleness, extravagance and desire. It sounds like the views of Puritan which tries to appeal to us to control ourselves against the temptation, but I query about the people who are cautious and conscientious towards their work. Unfortunately, they also have economic problems. Why? Ho

3、w does that happen? What should we do to avoid them? The book Rich Dad Poor Dad answered my questions and led me to another different world.This is a book about financing viewpoint, which overturned the traditional opinion that we need to go to college, study hard to get good grades and then find a

4、good and safe job. The author tells us it is of no use to find a superficially safe job, the core is acquiring the knowledge about creating and manage your money, which the school education seldom mentions. I am in favor of the bulk of the content, especially three parts. First, the rich make money

5、work for them. We always work in order to get corresponding repay which will be used such as the debt of the credit cards, the house and so on. We are not skilled in making money to produce money, in another word, investing. We are even afraid of it because we think it is high-risk. However, we igno

6、re that why a very few people can acquire wealth through it. Then comes to the second part that all of us need financial literacy. The only way to get out of the Rat Race is to prove your proficiency at both accounting and investing, arguably two of the most difficult subjects to master. Even if we

7、will not become rich just because of the simple financial literacy, but if we become more financially savvy and manage our property reasonably, we will not struggle financially all our life. Last part is minding our own business. Financial struggle is often directly the result of people working all

8、their life for someone else. Many people will have nothing at the end of their working days. The school education teaches us to become that we study. The mistake in becoming what we study is that too many people forget to mind their own business. But to become financially secure, a person needs to m

9、ind his own business.However, there are something that I disagree. For example, the tax of the government. Although in terms of the economy, the taxes occupy the large part of our outcome, it is our duties to do these. We are not live in the unidimensional society only linking with the money. The st

10、ructure of the society is multilayered and multidimensional in which case we need the government to maintain the normal operation. We pay taxes to safeguard our lives. Therefore, I do not think the governmental personnel are dispensable. On the contrary, in sociological sense, the government plays a

11、 significant role in the social division of labor. Generally speaking, the rich dad gives me a new angle of view to observe the finance and life. Though our Chinese would like to pursuit a kind of secure mode of life, it does not matter to have a try to accommodate the new economic situation.Which i

12、s your willing? Which is your life? It depends on your own. Section appreciation1. financial IQ is made up of knowledge from four broad areas of expertise.No. 1 is accounting. The more money you are responsible for, the more accuracy is required, or the house comes tumbling down. Financial literacy

13、is the ability to read and understand financial statements. This ability allows you to identify the strengths and weaknesses of any business.No. 2 is investing. What I call the science of money making money. This involves strategies and formulas. This is the right brain side, or the creative side.No

14、. 3 is understanding markets. The science of supply and demand. There is a need to know the technical aspects of the marketNo. 4 is the law. For instance, utilizing a corporation wrapped around the technical skills of accounting, investing and markets can aid explosive growth.This section talks abou

15、t the financial IQ which means that it is the basic skills we need to master. In terms of accounting, it is a method to guarantee our property account clear and accurate and make adequate preparations for the next investing and consuming. And only learning to invest wisely can we form the benign cir

16、culation of the money. When you want to be involved in the game of money, the first step is understanding the rules. The market tells you when to start and stop, the law tells you what you can do or not, and the financial literacy tells you why that happens. Gain all of these abilities, the game wil

17、l not over forever. 2. In my personal experience, your financial genius requires both technical knowledge as well as courage. If fear is too strong, the genius is suppressed.Sometimes we will be hindered by our fear. However, everything is relative. If you just want to live insipidly and spend most

18、of your lifetime to repay the loan, you do not need to change your traditional fortune managing model. If you want to make money work for you instead of being played through it, just a secure job and deposit money is far from enough. You have to invest and make money with money. Of course, the risk

19、comes with it. Most of us refuse to change because of the fear, but we would like to attribute it to the lack of talent and ability. What I want to say is that what we fear is the fear itself and never try never know. So sometimes we need to get out of our limited boxes. Everything has a risk. What

20、we need to care about is how to reduce it rather than flinch from it. Believe yourself, believe your ability and talent are exactly the crux. 3. He talked about the gold standard that America was on, and that each dollar bill was actually a silver certificate. What concerned him was the rumor that w

21、e would someday go off the gold standard and our dollars would no longer be silver certificates. When that happens, boys, all hell is going to break loose. The poor, the middle class and the ignorant will have their lives ruined simply because they will continue to believe that money is real and tha

22、t the company they work for, or the government, will look after them.Golds real virtue is negative. It is not used for much industrially but there is limited supply and real physical constraint on producing more. So under the gold standard, the relationship between currency and gold restricts the mo

23、netary production. However, when we someday go off the gold standard and dollars would no longer be silver certificates, when it happens, currency will be produced unlimited with no real value. Remember, the dollar is just a piece of paper, we can exchange things with it because of the agreed order which cannot be guaranteed to operate forever. But the public will not understand it and they will use their endless labor to change the currency in lower credit. Once the operation of the society goes wrong, the poor, the middle class and the ignorant will have their lives ruined simply.