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Rich Dad Poor Dad... Worst Personal Finance Book of All Time?

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31–40 of 138 posts

Re: Rich Dad Poor Dad... Worst Personal Finance Book of All Time?

#31
post #10

I disagree.. the most important message in the book is that business and entrepreneurship is the path to success, NOT being an employee and staying in the rat race. While it may be common sense to someone who's been in business for a while, or read a lot of similar literature, it's far from obvious to most people. I'm not ashamed to say Rich Dad Poor Dad has been one of the most influential books I've read in my life…

"what you can't afford your business can"

Any more details on what this one means?

Re: Rich Dad Poor Dad... Worst Personal Finance Book of All Time?

#32
I find it funny how the author of the article is bashing the book for offering no real ways of value creation, when he is an internet marketer... The very definition of no value creation.

I once got a book from this Warrior Forum (an online marketing forum) he speaks of, that would supposedly teach you how to earn money online. The main point of this book was that if you want to sell online, you must first find people who are willing to buy online, such as on (you guessed it!) the Warrior Forum itself! Funny enough, on that forum all the praises were positive, suggesting that people are too ashamed to admit they were cheated (or the admins, who took a large cut of all sales on this forum, deleted all posts that could have a negative financial impact). Thank god I downloaded the book!

I know that ad hominem argument is a logical fallacy, but I find it hard to believe the personal opinions of dishonest people.

Re: Rich Dad Poor Dad... Worst Personal Finance Book of All Time?

#33
post #31
post #10

I disagree.. the most important message in the book is that business and entrepreneurship is the path to success, NOT being an employee and staying in the rat race. While it may be common sense to someone who's been in business for a while, or read a lot of similar literature, it's far from obvious to most people. I'm not ashamed to say Rich Dad Poor Dad has been one of the most influential books I've read in my life…

"what you can't afford your business can" Any more details on what this one means?

I suspect it's referring to losing a job (a very big deal to most people) vs. losing a customer (not a very big deal to most well-run businesses).

Same with losing any resource that is concentrated in one supplier as an individual but spread out among multiple sources in a business. Could be cash flow/income or could be the loss of any number of real or financial or relationship assets that a diversified business inherently protects against.

Re: Rich Dad Poor Dad... Worst Personal Finance Book of All Time?

#34
post #26

I'm always fascinated as to why people on this board fervently defend scammy self-help books. Tim Ferris' completely phony 4-hour series provoked a similar reaction.

I like the RDPD book*, but I couldn't even stomach the 4-hour work day. From page one, it screamed 100% false. Felt like I'd have to be retarded to believe any of it. Strangely, I haven't heard others say the same.

Re: Rich Dad Poor Dad... Worst Personal Finance Book of All Time?

#36
This post missed the entire point of the book.

Time is wealth. Spending time how you want is being rich. Money is the tool that allows that.

How we earn money decides how rich, and wealthy we are. There is a better way to earn money than simply, and only working for money in exchange for our time.

Money you earn in exchange for your time will never be as much as what a business you setup can earn with out you.

This book teaches the difference between working "on" your business instead of in a business, whether it's your own, or someone elses. The E-Myth Revisited drives this point home even further.

Learning that there's another way to earn an income without your time is a powerful lesson. One that I think this post misses.

This book speaks to how there is no such thing as job security. While we in tech might be used to it, the majority of folks aren't.

Learning the only real job security is the security we create ourselves via multiple streams of income is often a troubling lesson to face, realize, accept, and adapt to.

These are huge, key, fundamental lessons that you either get, or you don't.

You can't wake up someone who doesn't know they're asleep, and as is evident here, sometimes we need to remember to learn to take the best good from everything.

Living in a world of possibilities is nothing like living in a world of doubts that accrue to seem insurmountable. We shouldn't live blindly faithful, or blindly doubtful, neither are fruitful.

Re: Rich Dad Poor Dad... Worst Personal Finance Book of All Time?

#38
post #32

I find it funny how the author of the article is bashing the book for offering no real ways of value creation , when he is an internet marketer... The very definition of no value creation. I once got a book from this Warrior Forum (an online marketing forum) he speaks of, that would supposedly teach you how to earn money online. The main point of this book was that if you want to sell online, you must first find peop…

You realise I mentioned the Warrior Forum in a negative light, right? I think it's probably the worst forum in the world on the subject of wealth creation. Hence, the cesspit of stupidity.

For your information, Internet Marketing has much more to do with value creation than you probably think. It's a multi-million dollar industry. But if you confuse Internet Marketing with what you see on the Warrior Forum, I can see how it's easy to make that mistake...

Re: Rich Dad Poor Dad... Worst Personal Finance Book of All Time?

#39
What these simplified self help books do well: they wrap important concepts into sound bytes that you can take with you wherever you go.

The fact that any given concept might not be revolutionary to you in particular is irrelevant.

The perfect example is "pay yourself first". It is catchy and simple way to wrap up the concept of "you can expense things that help you make money to a business".

Re: Rich Dad Poor Dad... Worst Personal Finance Book of All Time?

#40
post #26

I'm always fascinated as to why people on this board fervently defend scammy self-help books. Tim Ferris' completely phony 4-hour series provoked a similar reaction.

Reading self help materials has been one of the major turning points in my life.

Without self-help materials I would still have been a somewhat gifted kid but also a total mess of a human being. Thanks to self help I am becoming more and more self-realized every day.

I am not going to downvote you, because I am genuinely curious what you have against Ferriss. Care to tell me more?

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