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Ask HN: How can I use money to make money?

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Re: Ask HN: How can I use money to make money?

#41

Post by joemazerino »

unmole wrote: post #37
yunohn wrote: post #36

Earlier quoted context omitted.

Maybe you can provide some detail for this counter view? Otherwise it’s just confusing what to believe.

Let's see: - He discounts the (financial) value of education - Deliberately muddles the definition of an asset and a liability - Suggests commiting tax fraud and participating in insider trading - Fails to offer any actually good investment advice

The entire premise of Rich Dad, Poor Dad is to move from the ES (Employment, Service) side of his ESBI equation to BI (Business, Investment). This is sound financial advice. You're also confusing tax deferral with tax fraud. Nothing he wrote is illegal.

Re: Ask HN: How can I use money to make money?

#42

Post by azemetre »

yunohn wrote: post #35
azemetre wrote: post #30

Earlier quoted context omitted.

It’s not. I know a person that ended up paying probably $10k for an interview coach and leetcode tutor that ended up leaving their $90k job at Accenture to making $600k at Netflix. I wish I got returns like that at the market.

Sounds exactly like that viral Blind post I saw on Twitter. How many 600k jobs does Netflix have?

Until recently, Netflix only had two levels for SWEs: Senior and Manager. Netflix is known for paying an extremely large base salary.

https://www.levels.fyi/company/Netflix/salaries/Software-Eng...

Re: Ask HN: How can I use money to make money?

#43

Post by azemetre »

0des wrote: post #34
azemetre wrote: post #30

Earlier quoted context omitted.

It’s not. I know a person that ended up paying probably $10k for an interview coach and leetcode tutor that ended up leaving their $90k job at Accenture to making $600k at Netflix. I wish I got returns like that at the market.

Sweet baby jesus, that much money changes the game significantly if you can work remote. Where I am, 90k and you're living large with a nice vehicle, 3br+ and some land. 600k and you might as well call up the mayor to tell them what type of wax you prefer on your truck.

For my friend, while it's remote there is an expectation that they will be working in their offices in CA. I myself would move nearly anywhere for that kind of money. Especially since it's all cash.

Re: Ask HN: How can I use money to make money?

#44

Post by foobarbaz33 »

yunohn wrote: post #39
unmole wrote: post #37

Earlier quoted context omitted.

Let's see: - He discounts the (financial) value of education - Deliberately muddles the definition of an asset and a liability - Suggests commiting tax fraud and participating in insider trading - Fails to offer any actually good investment advice

Thanks for the clarification! I will steer clear of this book then.

You might want to take everything with a grain of salt. The book. And the criticism of the book.

Re: Ask HN: How can I use money to make money?

#45

Post by mbrodersen »

unmole wrote: post #37
yunohn wrote: post #36

Earlier quoted context omitted.

Maybe you can provide some detail for this counter view? Otherwise it’s just confusing what to believe.

Let's see: - He discounts the (financial) value of education - Deliberately muddles the definition of an asset and a liability - Suggests commiting tax fraud and participating in insider trading - Fails to offer any actually good investment advice

Have you even read the book? It sounds as if you either didn’t read it or simply didn’t get it.

Re: Ask HN: How can I use money to make money?

#47

Post by unmole »

mbrodersen wrote: post #45
unmole wrote: post #37

Earlier quoted context omitted.

Let's see: - He discounts the (financial) value of education - Deliberately muddles the definition of an asset and a liability - Suggests commiting tax fraud and participating in insider trading - Fails to offer any actually good investment advice

Have you even read the book? It sounds as if you either didn’t read it or simply didn’t get it.

Which specific point in my comment do you take issue with?

Re: Ask HN: How can I use money to make money?

#48

Post by mbrodersen »

cdong wrote: post #31
unmole wrote: post #28

Earlier quoted context omitted.

Counter view: Rich Dad, Poor Dad is a awful book with terrible advice written by a charlatan. Stay well away from it.

I read the book as a teenager and gave me some thought on financial literacy from a very young age. As a starting point with a good story its a decent book. Unsure about the rest of the series.

The rest of the series is simply the same message repeated in different ways. Not worth the $. All you need is the first book.

Re: Ask HN: How can I use money to make money?

#49

Post by mbrodersen »

joemazerino wrote: post #41
unmole wrote: post #37

Earlier quoted context omitted.

Let's see: - He discounts the (financial) value of education - Deliberately muddles the definition of an asset and a liability - Suggests commiting tax fraud and participating in insider trading - Fails to offer any actually good investment advice

The entire premise of Rich Dad, Poor Dad is to move from the ES (Employment, Service) side of his ESBI equation to BI (Business, Investment). This is sound financial advice. You're also confusing tax deferral with tax fraud. Nothing he wrote is illegal.

Yep agree. The negative reviewer clearly didn’t get it.

Re: Ask HN: How can I use money to make money?

#50

Post by mbrodersen »

yunohn wrote: post #39
unmole wrote: post #37

Earlier quoted context omitted.

Let's see: - He discounts the (financial) value of education - Deliberately muddles the definition of an asset and a liability - Suggests commiting tax fraud and participating in insider trading - Fails to offer any actually good investment advice

Thanks for the clarification! I will steer clear of this book then.

The negative reviewer clearly didn’t get the book or for some reason dislike the author. The counter examples are simply false.
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