Rich dad, poor dad – the story that formed my views on making money
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Re: Rich dad, poor dad – the story that formed my views on making money
#2The basic problem with Kiyosaki is that he wrote a work of fiction and passed it off as autobiography.
No, wait, the basic problem is that he is passing inspirational advice off as financial advice.
But don't take my word for it, read the critique:
http://www.johntreed.com/blogs/john-t-reed-s-real-estate-inv...
Re: Rich dad, poor dad – the story that formed my views on making money
#3RDPD is basically a fad diet book. There's some good advice, but it's mixed with bad advice and illegal schemes, slathered with a thick layer of inspirational bullshit.
For a better personal finance book, try "I will teach you to be rich", despite the clickbait title: http://www.amazon.com/Will-Teach-You-To-Rich/dp/0761147489
Re: Rich dad, poor dad – the story that formed my views on making money
#4[deleted]
Re: Rich dad, poor dad – the story that formed my views on making money
#5The problem with all these "how to get rich" books is that they're full of anecdotes, quotations, fictional stories, motivational bullshit etc. which make you feel good while reading them, but as soon as you put the book back on the shelf, it's all gone. It's just a temporary boost of energy and motivation, because reading requires almost no effort and more often that not it's just another way of procrastination. Seriously, do you think the majority of rich people prepared for "getting rich" by reading hundreds of motivational and self-help books? It's not like you'll find some magical recipe in one of the books which you can just apply to your life and 10 years from now become a billionare. Each success story is so different and depends on so many factors - being in right time at the right place among the most important - that it's impossible to simply recreate any of them and just wait for the results.
Re: Rich dad, poor dad – the story that formed my views on making money
#6[deleted]
Re: Rich dad, poor dad – the story that formed my views on making money
#7How did this get up-voted to the front page ?
Re: Rich dad, poor dad – the story that formed my views on making money
#8The problem with all these "how to get rich" books is that they're full of anecdotes, quotations, fictional stories, motivational bullshit etc. which make you feel good while reading them, but as soon as you put the book back on the shelf, it's all gone. It's just a temporary boost of energy and motivation, because reading requires almost no effort and more often that not it's just another way of procrastination. Ser…
Absolutely - all mixed in with a good proportion of survivorship bias: all we learn (at most) is that someone behaved in a certain way and became "successful" (for some values of success). We never seem to hear about those who did the same things and never made it rich.
Re: Rich dad, poor dad – the story that formed my views on making money
#9How I hate people like this. "Building assets and letting them work for you". For this you can read: "be the footsoldier for the banks who have a monopoly on money creation. Ask the bank to create money for you then use this to join the land monopolists. Then let those stupid little people who are actually creating wealth rent it back from you. This way you get a stream of their labour." For assets read "property".
People should be aiming to keep most of the wealth they create. What makes the world shit, and what we cannot all do, is live off the backs of others.
If he knows people who are billionaires they go there by not passing on the wealth created by others. Nobody adds a billion of wealth creation, not even Gates.
Re: Rich dad, poor dad – the story that formed my views on making money
#10The problem with all these "how to get rich" books is that they're full of anecdotes, quotations, fictional stories, motivational bullshit etc. which make you feel good while reading them, but as soon as you put the book back on the shelf, it's all gone. It's just a temporary boost of energy and motivation, because reading requires almost no effort and more often that not it's just another way of procrastination. Ser…
Possibly this is biased, but I'm not sure I'd ever seen this kind of financial self-help book till I saw them in the US. I flicked through a few books expecting basic info about compound interest or whatever but instead it was all "if you believe hard enough then the money will be magnetically attracted to you" and similar woo. A very strange experience.