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peemil
Joined: 09 Feb 2003
Location: Koowoompa
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 Posted: Sun Feb 19, 2006 3:30 pm Post subject: |
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If you want to get rich, why not become a Freemason?
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Robbing banks and old people sounds more appealing to me. |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Sun Feb 19, 2006 10:08 pm Post subject: |
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| gypsyfish wrote: |
| TheUrbanMyth wrote: |
| ( ... ) John T. Reed seems to be a competitor bad-mouthing another. I wouldn't take his word for gospel. |
(1) No argument that they are competitors, but he seems to back up his statements.
(2) Reed's website looks to me to have a lot of free information about investing (and a place where you can buy his books). Kiyosaki's website is all 'buy my product'. Nothing wrong with marketing yourself, but a man who gives useful information (as long as it's accurate) strikes me as more credible than one who always has his hand out.
But, by all means, buy Mr. Barnum's er ...Kiyosaki's books and attend his seminars. |
1. With what does he back up his statements though? A number of "e-mails"? He makes a few points, but they are based on a bias and when read objectively doesn't present a strong case
2. Sure Kiyosaki's a marketer. Nothing wrong with that, he admits so freely. I've found his books to be worth reading though. Granted I do agree he makes becoming rich seem easier than it is, and I have said as much in another thread with Mr J.D.
However we are getting sidetracked from my original question which was when Mr. deessell claimed that Kiyosaki didn't own anything. The links I was asking for were links that proved THAT assertion.
To me that would make the case that Kiyosaki was a liar, since he claims in his books that he owns a few million dollars worth of property (and some stocks)
But such links have not been forthcoming and I was unable to find them on Google (maybe I'm just using the wrong search parameters). |
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SuperFly
Joined: 09 Jul 2003
Location: In the doghouse
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| Posted: Mon Feb 20, 2006 3:50 pm Post subject: |
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| In Rich Dad, Poor Dad, he tells us about this book: Creating Wealth, by Robert Allen. Excellent book, good step by step formula on the process. |
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blunder1983
Joined: 12 Apr 2005
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| Posted: Mon Feb 20, 2006 7:05 pm Post subject: |
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I bought the book, but havent gotten into it yet.
Just looking at the reviews on Amazon.com raises a few questions to his ethics and his heavy promotion of housing seems a little questionable. At the moment your actually going to be loosing money with investing in housing, you gotta wait till the bubble bursts or you'll be looking at a nasty loss.
Anyway, read the book, take the advice with a pinch of salt and then do more research in the investment you're most interested. The book is a great way of motivating people into investing money though.
I'm excited about having money next year to invest! |
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TheUrbanMyth
Joined: 28 Jan 2003
Location: Retired
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| Posted: Tue Feb 21, 2006 3:24 am Post subject: |
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| blunder1983 wrote: |
I bought the book, but havent gotten into it yet.
Just looking at the reviews on Amazon.com raises a few questions to his ethics and his heavy promotion of housing seems a little questionable. At the moment your actually going to be loosing money with investing in housing, you gotta wait till the bubble bursts or you'll be looking at a nasty loss.
Anyway, read the book, take the advice with a pinch of salt and then do more research in the investment you're most interested. The book is a great way of motivating people into investing money though.
I'm excited about having money next year to invest! |
He does promote housing, but he also says several times throughout the book, that if you don't like real estate then invest in something else. Plus his book was written well before the current housing bubble, so I really don't see what that has to do with it. Personally I don't like real estate plus it is a major tie to back home (non-resident status) so I invest in other areas. |
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princess
Joined: 16 Jan 2003
Location: soul of Asia
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| Posted: Fri Feb 24, 2006 6:05 pm Post subject: |
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| nautilus wrote: |
| deessell wrote: |
But one piece of advice that hit home was "make your money work for you and move away from the idea of working for money". |
I've tried over and over to get my wad of banknotes to get up at 9 and go to school every morning, but they just sit there. |
hahaha...Funny and true. Me, too. How can I get MY money to go to work for me while I sleep? |
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Tiger Beer
Joined: 07 Feb 2003
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| Posted: Sun Feb 26, 2006 3:48 am Post subject: |
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| Looking at all the other 'real estate' like books on the market now.. about flipping properties and investing in properties and all the rest.. I can't help but wonder if 'rich dad, poor dad' is one of many small engines inflating the intense current housing bubble raging on in the U.S. today.. (its probably one of the 'investment strategies' that still seems viable after the dot.com burst a few years back. |
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Unreal
Joined: 01 Jul 2004
Location: Jeollabuk-do
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| Posted: Sun Feb 26, 2006 6:15 am Post subject: |
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Rich Dad, Poor Dad was the first personal finance book that I've read and found it very inspiring but not very meaty. I took two lessons from the book: 1) Make your money work for you and 2) Learn all you can about investing. Since then I've read the following books which I've found to be good:
Think and Grow Rich ...a classic but difficult to apply.
Wealth: An Owner's Manual...very practical but geared more for those who already have a lot of money.
Smart Couples Finish Rich...part of a whole "Smart" series which has good practical information about investing, which I've used to set up my own investments.
Smoke and Mirrors: Financial Myths That Will Ruin your Retirement Dreams...a good book to counter the previous two...very practical, explains why many people shouldn't be maxing out their RRSPs (even though many financial experts will tell you to), comes with a computer CD loaded with several useful spreadsheets, such as one to figure out just how much you need to retire.
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CaptainConjunction
Joined: 12 Oct 2005
Location: Seoul
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| Posted: Mon Feb 27, 2006 7:27 pm Post subject: |
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I've read a couple of his books and I thought they were fairly useful, especially for those of us who are financially illiterate. Some things I've found that help you to make money:
1. Determine how much money you can survive on each month. For me in Korea it's about 1 million won.
2. Pay the remaining total of your salary into a savings account. If you get a raise, pay the extra into your savings account. Don't change your lifestyle to use up the extra money.
While you are patiently waiting for your money to accumulate in the savings account, you can start thinking of small investment ideas for it. However, before you go and blow it all on something silly, make sure you have about 2-3 months salary saved up in case of an emergency.
I'm not sure what to invest it in though, thats the trouble. Real estate doesn't appeal to me because you have to devote a lot of your time. I once invested a few million won in a friend's shop in one of those food courts. I ended up losing it all because it we never broke even, but it was still fun going there every day to watch customers eating the food. A hell of a lot more fun than a couple of lines in the newspaper about the share price going up 1 or two cents.
If anyone else has any good ideas about investing in Korea, post them here. I'd be interested to steal..er..know about them.  |
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mack the knife
Joined: 16 Jan 2003
Location: standing right behind you...
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| Posted: Mon Feb 27, 2006 7:47 pm Post subject: |
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| Smart Couples Finish Rich...part of a whole "Smart" series which has good practical information about investing, which I've used to set up my own investments. |
Buy, buy, buy this book! Choc-a-bloc full of USEFUL information. Like a mini-encyclopedia about planning your retirement/saving money. Not to mention, it's like getting Dr. Phil and a great financial advisor all in one neat package. If you don't buy any other books, you'd do just fine with this one. No, I'm not getting any kickbacks for recommending it... 
One can sum up the entire "Rich Dad" series with this one idea "Pay yourself first", which is really just another way of restating the time-tested maxim "Make your money work for YOU". Rubbish. |
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Bulsajo
Joined: 16 Jan 2003
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| Posted: Wed Mar 01, 2006 7:23 am Post subject: |
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What about The Wealthy Barber?
I never read it but I gather it's along the sames as (and predates) Rich Dad, Poor Dad? |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Wed Mar 01, 2006 1:53 pm Post subject: |
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| CaptainConjunction wrote: |
I've read a couple of his books and I thought they were fairly useful, especially for those of us who are financially illiterate. Some things I've found that help you to make money:
1. Determine how much money you can survive on each month. For me in Korea it's about 1 million won.
2. Pay the remaining total of your salary into a savings account. If you get a raise, pay the extra into your savings account. Don't change your lifestyle to use up the extra money.
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that's pretty much what I got out of it. |
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Kenny Kimchee
Joined: 12 May 2003
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| Posted: Thu Mar 02, 2006 1:17 am Post subject: |
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He may have an axe to grind, but that guy over at http://www.johntreed.com/Kiyosaki.html does a pretty good job at cutting the Rich Dad book to pieces.
I don't get it, because it's not that big of a mystery:
1) Live within your means
2) Get out of debt
3) Save your money
4) Invest it well (this, admittedly, is the really tricky part and the one I have problems with).
It's just like all those diet and weight loss fads. There's no mystery there, either: burn more calories than you consume and you will lose weight. I guess that, in both cases, people want to think there's an easy way to do it... |
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