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Rich dad, poor dad – the story that formed my views on making money

micaelwidell.com

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Re: Rich dad, poor dad – the story that formed my views on making money

#41

Post by pmorici »

pkorzeniewski wrote: post #5

The 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…

When I was a kid I remember the Rich Dad, Poor Dad guy doing tv specials or perhaps they were paid tv segments to sell his book where he would preach the lessons of his book. I remember him being a very talented motivational speaker but when I got done watching as a kid I remember thinking it was all more or less BS because while his over arching message isn't wrong; for someone who is working class or inexperienced it is a HUGE leap and the general tone of his delivery is much more miracle cure than practical steps. For that reason I've always sort of lumped this guy in with televangelists.

Re: Rich dad, poor dad – the story that formed my views on making money

#42

Post by anon4 »

Isn't he basically preaching a rentier economy? That sort of thing is not sustainable at scale - at best you can have something like 10% of people getting rent (leeching off of) the people doing the actual work. Speaking ethically, this is one of the sleaziest ways you can make money - you're making your own basic income, except it's 5 times bigger than the income of the people who actually do the work. You're depriving honest workers of the fruits of their labour.

People like him are what's wrong with society today and nothing short of a bloody revolution will set us back on the right path.

Re: Rich dad, poor dad – the story that formed my views on making money

#43

Post by tome »

Reading Rich Dad, Poor Dad represented a paradigm shift for me.

Having been brought up in a middle class, academic family and moving successfully down an academic track, it opened my eyes to ideas that I couldn't even have comprehended existed before.

I don't know if the majority of what Robert Kiyosaki sells is bluff and bluster, but I do know that the foundational message of the book (as told in the quotes on this blog post) were absolutely revalational to me.

Re: Rich dad, poor dad – the story that formed my views on making money

#44

Post by branchless »

MCRed wrote: post #16

I read this book, was skeptical given the gungho attitude, so I did some due diligence: Roberty Kiyosaki claimed to have founded a company that went public. So I figured Kiyosaki was a rare enough name and searched the SEC records to find out if this was true. Was unable to find any evidence that he had taken a company public, and so he lost credibility with me. You meet really entertaining characters in bars sometim…

Plus in "managing real estate" you are living off the backs of others in a flawed system. These real-estate "investors" are simply the foot-soldiers of banks who are creaming off real wealth creation.

You only have to think about it for a moment to realise this. What if everyone did it? We'd all starve. What if everyone worked hard to gain a skill and then used it to create wealth? We'd have a great life.

I understand what's happening with land exploitation but I won't join in because it's disgusting. It's not "just business" as these sorts would say.

Re: Rich dad, poor dad – the story that formed my views on making money

#45

Post by branchless »

anon4 wrote: post #42

Isn't he basically preaching a rentier economy? That sort of thing is not sustainable at scale - at best you can have something like 10% of people getting rent (leeching off of) the people doing the actual work. Speaking ethically, this is one of the sleaziest ways you can make money - you're making your own basic income, except it's 5 times bigger than the income of the people who actually do the work. You're depriv…

Yep, he is. The guy is a leech. Another is mr money moustache with his 3 homes telling us to save by eating oats or whatever. These guys make me sick. I half agree that we need a revolution, these people can never be persuaded of their ills they are just horrible people.

Re: Rich dad, poor dad – the story that formed my views on making money

#46

Post by [deleted] »

charlesdm wrote: post #31
branchless wrote: post #9

How 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". P…

Debt is a lever, in itself it's neither good nor bad. If I have a $10m net worth, I might want to lend someone $1m for a year on which they will pay me 5% interest per year. If that person can turn that million into one and a half million, what's the problem?

[deleted]

Re: Rich dad, poor dad – the story that formed my views on making money

#47

Post by tome »

Kinnard wrote: post #39
charlesdm wrote: post #31

Earlier quoted context omitted.

Debt is a lever, in itself it's neither good nor bad. If I have a $10m net worth, I might want to lend someone $1m for a year on which they will pay me 5% interest per year. If that person can turn that million into one and a half million, what's the problem?

Not when it's only issued by a monopoly.

Who says only banks can make loans?

Re: Rich dad, poor dad – the story that formed my views on making money

#48

Post by reboog711 »

pkorzeniewski wrote: post #5

The 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…

It has been a long time since I read it; but I don't consider "Rich Dad, Poor Dad" a 'how to get rich' book.

The real benefit I got from that book was how it draws a line between a liability and an asset. For example, a car is not an asset; especially if you had to take a loan to pay it off. That is something that takes money away from your cash flow every month; not add to it.

A rental house that brings in money every month is an asset. The book goes on to say you should never get rid of an asset unless you are replacing it with another 'more valuable' asset.

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