Rich Dad, Poor Dad

[Animal Farm]

I been reading Robert Kiyosaki’s book Rich Dad, Poor Dad and been listening to his audio tapes, and this guy is not a believer of learning, at least not in the conventional way. He argues that rich people have money working for them, while poor people work for money. He argues that working in a stable position for a company is not the solution --- he talks about his poor dad and how he endured financial disappointments, while his rich dad who dropped out of school in grade 8 became a millionaire.

 

 

Here’s a brief description:

I had two dads - a rich one and a poor one. One dad was highly educated and intelligent; he had a Ph.D. and had completed four years of under-graduate work in less than two years. He then went to Stanford University, the University of Chicago, and Northwestern University to do his advanced studies. All on full, financial scholarships. My other dad never finished the eighth grade. Both men were successful in their careers, working hard all their lives. Both earned substantial incomes.

Yet one dad struggled financially all his life and the other dad would become one of the richest men in Hawaii. One died leaving tens of millions of dollars to his family, charities, and his church. The other left a legacy of unpaid bills. Both men were strong, charismatic, and influential. Both men offered me advice, but they did not advise the same things.

Nomads have any of you read this guys books, or listened to his audio lectures?

What’s your take on him?

[CHE]

I am not familiar with any of his work.But I gather, from your brief description, that he is alluding to the fact that many have succeeded in making millions without having gone through proper higher education.

[Muhammad]

I've read the book, and most of what he says can be summed up to - you don't need money nor institutional education to get rich(in America).

 

i don't think he is against 'learning', but more against the current educational system in the states.

 

his main problem with them is, that they don't teach 'how to make money' in schools.

 

it was a good read, worth checking out!

[Foxy]

I have read Robert Kiyosaki’s book Rich Dad, Poor Dad about 4 years back,It was good book and must read for those trying to reach or achieve personal financial independence and the book does so in a very simply, easy-to-follow way without any of the financial jargon and what I understood from it was that Money is one form of power. But what is more powerful is financial education. Money comes and goes, but if you have the Know How's about how money works, you gain power over it and can begin building wealth. and he also emphasizes that positive thinking alone wont get you no where and because most people went to school and never learned how money works, so they spend their lives working for money........in other words he kinda shows how to make your money work for you, instead of you workink for your money

 

 

cheers

 

PS

Try Reading "Thing and Grow Rich" By Napoleon Hill.....its considered by many to be one of the most important motivational texts ever written in history.

[Animal Farm]

Thanks for the recommendation Foxy

 

I just can’t believe I haven’t read this book couple of years back, my life would be profoundly different today. I spent the last couple of years preparing myself to be a labourer for some company, you know the playing it safe route.

 

By reading this book and several others, I’m not able to pursue my personal/business goals without having to worry about financial liabilities.

[Foxy]

I guess there are many books on personal investment / buildding wealth that are written as is they are tomes brought down from the mountain by the enlightened few. Lolz

 

I guess the Golden rule is to diversify your nests, start sooner than later( may be with managed Funds), Go for longer term instead of short term especailly if still young Go for the growth sector. Be ready to borrow from banks knowing there are risks/fees/ interests involved. Eventhough we hate to owe any1 money, but sadly borrowing is s perfectly good source to fund investment( property/shares).

 

cheers

[Goonle]

Foxy

 

Good advice u giving out, its a pleasant surprise to see that ure saying something worthwhile for once lol.

[Muhammad]

Foxy... 'think and grow rich' is a fine book indeed!

 

i've the online version... whoever is interested!

 

try and check out the audio version!

[Foxy]

Goonle

 

it must me eid, for U not to insult me or those around me......lols mate, it must be ur happy day, would I be able to offer U a lolly.......with out me appraising somaliland or speakin out my mind with out u taking out a personal attact on me.....it must be a rainy day...VivA SOMMALILAND

 

 

cheers

 

 

PS some of us are finaince major'S U Know

[Rokko]

AF, i ain't familiar with the dude but heard of him and others disussing such topic na'mean and telling such ppl they can become rich without edu. I think it comes down to how hard/smart and creative ohh and for sure a risk taker u are...not that education isn't important.

 

one person keeps coming to mind is of course..BillGate..damn

[Goonle]

Originally posted by Foxy-brown:

Goonle

 

it must me eid, for U not to insult me or those around me......lols mate, it must be ur happy day, would I be able to offer U a lolly.......with out me appraising somaliland or speakin out my mind with out u taking out a personal attact on me.....it must be a rainy day...VivA SOMMALILAND

 

 

cheers

 

 

PS some of us are finaince major'S U Know

Dont push your luck, besides i have nothing against somaliland, im from the original 1960 demarcation myself. Im confused though, what does being a finance major have to do with what we were talking about. Im an Accounting Major but that has nothing to do the topic at hand. P

 

P.S please clearify.

[Goonle]

Hey staying on the topic im not from england but heard A past prime minister "John Majors" never even finished high school. So success ofcourse is not directly connected to education. If u aint a hussla ull be working a 9 to five for the rest of your life. Making enough to pay a 30 yr mortgage put your kids through school and have a modest retirement package. On the other hand the ability to make people follow u and put there money behind u will ultimately make u rich.

[Foxy]

Dude Goonle,

John Major wouldnt do U no favour, but as finaince is conerned, I suggest U put a blank point of ur points regardless on ur political movements. As for me, No political would me be much of a concerned, so long a that have paid thier taxes when it was due...and that I have got stayed ahead of inflations, and have taken a long view on longer term

 

cheers

[Elysian]

Economics and buisness isn’t my field at all, and I’m especially ignorant to how billionaires have built up their empires, so bare with me. But common sense; isn’t it so that these men had some kind of passion for something, which they realized they could make money on if they played their cards right? The money they earned was a secondary effect , meaning that just, know-how and want-to-make-millions won’t make it unless you have a very good idea (and off-course vice versa).

 

There are probably alot of people that have made it without any education. However the probabilty of that is much smaller than if you actually DO have one!

 

Off topic... money should be a mean not a goal in itself, therefore striving towards becoming rich can be destructive.

[Foxy]

Lolz

Qoute

economics and buisness isn’t my field at all, and I’m especially ignorant to how billionaires have built up their empires, so bare with me. But common sense; isn’t it so that these men had some kind of passion for something, which they realized they could make money on if they played their cards right?

ever played black jack ever I wonder?. For I am an expert on tht Game! As for economics and buisness on being or bringing my sort of field of busniess......well that lives the thought the peny for the brain

 

 

PS who on here is an expert on black Jack...You dont have to a simple supporter of on so caLLED

type..of typical Gambling....as my lucks and msthimatical has been doin well....... they say ;luck runns out

 

CHEERS