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FIB - Scams 101 - Ye Olde Archives
Posted By: Bluto Samartino In Response To: Re: Just read Robert Kiyosaki's Rich Dad, Poor Dad..... (Tracy)
Thursday, 29 December 2005, at 9:48 a.m.
> And some of his "technical" advice is flat out WRONG.
That sounds really nice in print, however, without proof in the form of examples from the book with facts to counteract these examples your statement holds no water and is also borderline defamatory/libel.
That said, I think a lot of people who read Rich Dad, Poor Dad are looking for the author to lay out a blue print to make money for them. So when they finish reading the book they are disappointed to find out it did not include said blueprint.
Admittedly, I did not like the book too much myself on the whole. One thing I hated about it was that he did not mention that his little comic book library business he supposedly started as a child was illegal. Someone who is less than bright might get a bad idea for a business after reading that.
However, what I did find very valuable was his explanation and theory of what is a liability and what is an asset. He hit it right on the head when he tells you that buying your own house to live in is not really the asset "they" tell you it is. It is essentially a liability - especially if you're going to finance it for 30 years (like most people do). Not that buying a house for yourself to live in is a bad thing, but it is not the asset that the real estate/financial industry makes it out to be. Classifying your "investments" correctly is a good start to understanding your money and your investments and understanding the flo of your money. The author, I believe, is right on track with this subject and the book is worth reading for that alone. However, I would not recommend buying the book but rather borrowing it from a friend or your local library. After all, technically speaking, buying a book is not really a financial asset but a liability ;). Therefore, buying the book, when you can get it for free from the library or a friend, is not a sound financial move.
Bluto
"Your Mommy Kills Animals", says PETA to your children.
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