Did you read Rich Dad, Poor Dad?

[iversonyin]

Originally posted by: 91TTZ
I read it. I didn't take the story literally, I think he was just trying to get points across. The points were pretty good, they were just simple fundamentals that most people never bother learning. I didn't get into the whole real estate thing since that seemed shaky, but the basics of it are sound, such as:

1. You'll make more money if you have workers working for you
2. Tying up your money in liabilities is a great way to prevent you from building wealth.
3. Let your money work for you.

These are real basics that any businessman can tell you, so it's nothing groundbreaking. But sadly, when you see some kid get his paycheck and blow it on a set of wheels, or get a new job and instantly go out and buy a new car, you see that most people simply don't get it.

You are right, but not anyone has the chance to talk to businessmen. Businessmen might never tell you these things in person.

I know the story is phony from the beginning, but he does make some good points using that phony story.

 

[Kenazo]

Sounds like "the wealthy barber", which is a half decent read. Though it's a little misguided too. I guess that's how it goes when you simplify to the lowest reader.

 

[91TTZ]

Originally posted by: Mwilding

Originally posted by: Orsorum
Like most everyone else has said, glean the good points that you can from it, and then read a better book like The Millionaire Next Door.

Which does a much betyter job of getting the message accross: LIVE WITHIN YOUR MEANS

i.e. buy used cars, pay off your credit cards, save your money, don't increase spending when you get a raise.

Exactly.

 

[FoBoT]

no
my dad told me about it, but i don't really read books anymore

 

[So]

No, but I read city mouse, country mouse.

 

[tk149]

There's probably nothing in there you haven't heard before, but it's good to have someone say it.

What I got out of it:

1. Grow your assets. Assets are ONLY those things that generate income. A house that you live in, a car, a boat - these are not assets because they do not generate income. These are expenses - you have to pay money to keep these things.

2. Pay your assets first - the author says pay assets (e.g. buy investments like stocks or bonds) BEFORE paying bills. I don't entirely agree, but I have curtailed my spending significantly because I am now direct debiting my paycheck for my savings account and stock portfolio. Now I pay my investments first, before looking at my checking account to see how much I can spend. If you are good at budgeting, you don't need to do this.

3. Invest in your education - grow your wealth-accumulation skills - I'm still working on this, but it looks like fool.com is a good idea.

4. Take risks - The riskier the investment, the more growth potential. But don't be stupid.

5. Don't say "I can't afford it." Ask yourself, "How can I afford it?" This forces you to use your brain to figure out ways to generate money.

I don't really believe his story, but I thought that these 5 points were good ones.

 

[vital]

this book is recommended by everyone in a pyramid scheme

 

[0roo0roo]

Originally posted by: archcommus

Originally posted by: 0roo0roo
http://www.johntreed.com/Kiyosaki.html

That was a fantastic link, thank you for it.

yea seems my bookmarks were good for something after all

 

[shortylickens]

Yes.

Dont piss away money on liabilities. Learn what liabilities are.


This is the kind of advice most of us need in high-school.
Some of us learn it in college or the work force.
MANY of us never learn it.

 

[shortylickens]

" "Rich Dad" Just a Fad
The real estate focused Rich Dad, Poor Dad, authored by Robert Kiyosaki, is a best-selling book that claims to provide the road to real riches. But taking a closer look reveals there just isn't much under the hood in this popular book series."


Its not a Fad. It has been around many, many years and even revised a few times.
It NEVER claims to provide the road to real riches.

I only read the first paragraph of the article.
If the guy (who critcises someone elses integrity) cant get it right, why should I believe his analysis?

 

[CrimsonChaos]

I read the book. Seemed more "motivational" rather than "educational". It doesn't teach you much of anything, but tries to inspire you through this make-believe fairy tale.

Don't bother with it.

 

[KEV1N]

I felt it was a bad book compared to Millionnaire Next Door. All the RDPD author talks about is how to make money... after I finished the book I felt dirty because I knew that he was making that money by selling this book about making money. Like how rappers rap about going platinum.