Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money
- Thread starter -ooO-(GoldTrade
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In the interest of this thread not going on for 4 more pages about why there really isn't nothing else, because what I do couldn't possibly work, which often happens when you cast pearls before swine, I'll ask that you send me a PM, and I will send you a return message about what works for me.
I felt like I was reading a massive run-on sentence intended for ages 10-18.
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Rather I think it is a good introduction to how to think of money and making money. Yes, good common sense, and if his characters are fictional, so what, it makes no difference.
I read one of the books at age 19 and would recomend it for the same age group, though most people in this world, as has been stated in this thread, don't even grasp the most basic concepts conveyed through this book.
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Rather I think it is a good introduction to how to think of money and making money. Yes, good common sense, and if his characters are fictional, so what, it makes no difference.
I read one of the books at age 19 and would recomend it for the same age group, though most people in this world, as has been stated in this thread, don't even grasp the most basic concepts conveyed through this book.
Interesting to see in some of the many posts on this board of those who are so indoctrinated into a consumption/debt mentality that they vigorously reject profound beliefs. The opening comment to this thread is about all the theory one would need to know. Of course, theory never made anyone wealthy or powerful, because each model cannot possibly take into account every variable that exists now nor in the future.
The first step is identifying profound knowledge. The second is tailoring its merits to your individual situation. The third is consistently applying the knowledge in the course of the events and desires of the moment or social influences that will come up and attempt to mine their own dollars from your dream. Ancillary influences also come from within oneself, but they generally reflect the image in a social mirror.
Usually, this type of knowledge is first rejected by many. Its kind of like the beginning of a trend in whatever instrument you trade. Its vigorously rejected, volatile. By the time everyone catches on, by definition the trend must end, until the next cycle of profound knowledge is discovered and used.
Often the vigorous rejection of an idea by the many shows a fear of status quo disruption, or change. The more quickly one can see a use for this knowledge, the more opportunity for benefit. Again, the trend analogy. In the last bull market in equities, those who needed all the convincing to get long were the last to buy, and had the lowest probability of making money.
The irony is, that if one should adopt status and wealth changing ideals, one could one day become a silent proponent of programs to keep the members of the various class levels from changing. Those who control the wealth may have a vested conscious or subconsious agenda to keep the important information rejected, and to enlist the aid of unthinking lowerclassmen in its reinforcement and rejection.
The first step is identifying profound knowledge. The second is tailoring its merits to your individual situation. The third is consistently applying the knowledge in the course of the events and desires of the moment or social influences that will come up and attempt to mine their own dollars from your dream. Ancillary influences also come from within oneself, but they generally reflect the image in a social mirror.
Usually, this type of knowledge is first rejected by many. Its kind of like the beginning of a trend in whatever instrument you trade. Its vigorously rejected, volatile. By the time everyone catches on, by definition the trend must end, until the next cycle of profound knowledge is discovered and used.
Often the vigorous rejection of an idea by the many shows a fear of status quo disruption, or change. The more quickly one can see a use for this knowledge, the more opportunity for benefit. Again, the trend analogy. In the last bull market in equities, those who needed all the convincing to get long were the last to buy, and had the lowest probability of making money.
The irony is, that if one should adopt status and wealth changing ideals, one could one day become a silent proponent of programs to keep the members of the various class levels from changing. Those who control the wealth may have a vested conscious or subconsious agenda to keep the important information rejected, and to enlist the aid of unthinking lowerclassmen in its reinforcement and rejection.
Kiyosaki has mentioned numerous times that he doesn't recommend people doing exactly what he's done, but merely talking about what he knows about and his experiences. There are many ways to make money, no doubt about it. But I also think that the debt cycle has to end, and the books really hit that subject well. I, for one, would rather purchase a small building and live rent-free rather than buying my own house like most of my friends.
Off-topic, in Canada just today the Canada Mortgage and Housing Corp. will allow 100% mortgages on private homes. They can now borrow to pay the down payment. As if we needed any more fuel to the real estate fire.
i'm in toronto, but I have friends out in London and Waterloo. So many of them have bought houses, and a lot are variables, which is fine for now. My 'conservative' friends have lock-in for 5 years.
I tell them be careful, rates can rise quite a bit, and they all laugh. Of course, my generation has only seen the 90's and on, no one remembers the 70's or 80's.
People think I'm joking when I say you won't always get 5% mortgage, it was triple that years ago...
well, time will tell. Either way, I'm saving up a warchest to buy up properties over the next several years.
i just got finished reading "the automatic millionaire" i thought it was a great book. talked about the importance of saving 10% of your income a year into some form of an ira. i would reccomend it, it opened my eyes to many small thinks in my finances. anyone else read it?
http://www.amazon.com/exec/obidos/t...f=sr_1_1/102-9425552-3996114?v=glance&s=books
http://www.amazon.com/exec/obidos/t...f=sr_1_1/102-9425552-3996114?v=glance&s=books