Rich Dad, Poor Dad

[bizwoman]

@bloggerdon I'm also reading The Conspiracy of the Rich - I agree, it is a must read for anyone wanting to understand the true state of our current economic conditions

 

[exotic]

This is a great book for motivation. Some of the techniques discussed in this book I had already been using VERY SUCCESSFULLY, I recognized that they were lightly discussed without disclosing FULL detail of applying these methods.

 

[jdn74]

The only Kiosaki book I read was "Cashflow Quadrant". While he does speak of his own ventures in real estate (and predicted the housing bubble and subsequent massive redistribution of the nation's wealth), he doesn't limit the reader to that niche. I do think he does an adequate (but by far, not the best) job of trying to re-frame the readers' mind. Most people don't think outside their nice little box, and I think he is trying to expand our horizons. I really liked the book and have referred to it more than once.

That being said, I'm by no means advocating him nor defending him. He doesn't need my defense, nor do I care to. But, there IS a reason why he is wealthy. I don't know about his personal life or who he does business with - and I don't care - because I already bought the book years ago, read it, and found it useful. Its just a stepping stone for me, and I've had more since then.

I definitely LOVE anything coming from Zig Ziglar, Milton Erickson, Richard Bandler, some Joe Vitale stuff, and Dan Ariely (his boring book will change your life).

My 2 cents (not worth much, eh??)!

 

[carsonrathi]

As a young person who owns rental properties and several businesses, I want you to understand a couple things.

The book is marketed towards an audience who does not and will never have the financial means to test this book and determine its quality.

The author did not become wealthy by owning his own businesses, properties, or anything other than the money he made by selling a dream in the form of a book to people in the target audience I mentioned above.

Doing most of what he claims to do to build assets in his book is three thousand times more complicated than he claims.

A mindset will not get you anywhere. Your financial situation will, and very wise decisions. Invest in yourself (such as by going to college to specifically earn a well paying job), and then invest in other area's of your life.

You are completely wrong about mind set thing. I am a living example myself, what mindset did to me. Setting up your mind set will take some time but once you get that thing, it is really powerful.

It doesn't matters what people said about R.Kiyosaki the FACT is, his book give you mind set, a positive attitude about things, you get to know how money works, the role on money in your life.

I personally do not follow (or can't follow) everything as in book (i still buy liabilities like cars and Xbox ;-) ) however rather of putting money in bank account, i invest in business ventures.

Also, regarding mind set, go and read "The Secret" book.

It's been said that as a human being we use less then 1% of our mind power however the people who achieved even 1% power are ruling the world (financially).

No government rule the country, businesses do. And to be the real empowered business personality (online or offline) from scratch, you need to set your mind set and change the way to think and look at every element of world be your 'poor' neighbor or your million dollars biz.

 

[MisterGemini]

You are completely wrong about mind set thing. I am a living example myself, what mindset did to me. Setting up your mind set will take some time but once you get that thing, it is really powerful.

It doesn't matters what people said about R.Kiyosaki the FACT is, his book give you mind set, a positive attitude about things, you get to know how money works, the role on money in your life.

I personally do not follow (or can't follow) everything as in book (i still buy liabilities like cars and Xbox ;-) ) however rather of putting money in bank account, i invest in business ventures.

Also, regarding mind set, go and read "The Secret" book.

It's been said that as a human being we use less then 1% of our mind power however the people who achieved even 1% power are owing and ruling the world (financially).

No government rule the country, businesses do. And to be the real empowered business personality (online or offline) from scratch, you need to set your mind set and change the way to think and look at every element of world be your 'poor' neighbor or your million dollars biz.

I don't think he is wrong, I just think peoples interpretation of what he meant by mindset is wrong. So far you make the second person to apply their own version of what it means. I think personally, he is saying mindset in reference to what you will be 'taught' in many of these books.

It's the idea that if you have positive thinking and nothing else, this 'mindset' will transform your life. His response to this is in the regard of action vs. inaction.

I have seen this all too often. The people who read these books believe that if they just recite the positive affirmations over and over again, they will achieve success. Contrary to this 'mindset' is the idea of just get to work and take massive action to build your financial wealth. That your true transformation takes place when your feet hit the pavement so to speak.

Maybe ebaymafia can tell us what he really meant by the comment. I am only guessing.

I think the idea of mindset needs to take a backburner to the development of experience. Confidence is born out of knowledge and experience forged together through the fires of tribulation. Knowledge alone is mute, and thats what the books offer. You are reading the EXPERIENCE of others (many of these books take this format, RDPD is no exception). How those authors convey and translate that experience often is either not in the pure form necessary to derive the real lessons, or the method of simply reading the experience is not going to cause the necessary impact to truely bond your resolve on the matter. Doesn't matter how many times you tell me that over burner is hot, I will truely understand what that means after I put my hand right on it. Lesson learned, and confidence in that knowledge and experience assimilated 100%.

On another note, I love these posts that define the world in such absolute terms that showcase the beliefs of the poster. It really helps separate the BS from the truly wise. If you are a reader with a seeing eye.

Good luck,

Mister Gemini

 

[carsonrathi]

I don't think he is wrong, I just think peoples interpretation of what he meant by mindset is wrong. So far you make the second person to apply their own version of what it means. I think personally, he is saying mindset in reference to what you will be 'taught' in many of these books.

It's the idea that if you have positive thinking and nothing else, this 'mindset' will transform your life. His response to this is in the regard of action vs. inaction.

I have seen this all too often. The people who read these books believe that if they just recite the positive affirmations over and over again, they will achieve success. Contrary to this 'mindset' is the idea of just get to work and take massive action to build your financial wealth. That your true transformation takes place when your feet hit the pavement so to speak.

Maybe ebaymafia can tell us what he really meant by the comment. I am only guessing.

I think the idea of mindset needs to take a backburner to the development of experience. Confidence is born out of knowledge and experience forged together through the fires of tribulation. Knowledge alone is mute, and thats what the books offer. You are reading the EXPERIENCE of others (many of these books take this format, RDPD is no exception). How those authors convey and translate that experience often is either not in the pure form necessary to derive the real lessons, or the method of simply reading the experience is not going to cause the necessary impact to truely bond your resolve on the matter. Doesn't matter how many times you tell me that over burner is hot, I will truely understand what that means after I put my hand right on it. Lesson learned, and confidence in that knowledge and experience assimilated 100%.

On another note, I love these posts that define the world in such absolute terms that showcase the beliefs of the poster. It really helps separate the BS from the truly wise. If you are a reader with a seeing eye.

Good luck,

Mister Gemini

Agree to you man however if you don't have positive mind set you cannot take action, "mind set" is different from thinking, it means we have 'set' or 'guide' the mind to take action for xyz thing, with no 'ifs' and 'but's'

Thanks.

 

[thevil]

I personally thought it was a excellent read, but I am not even going to take any of Richard's advice with a grain of salt. I believe he is an excellent writer and storyteller, nothing more. Wall Street Journal already dubbed one of his books; Rich Men, Poor Advice. Also there is a fine print in his book; Although based on a true story, certain events in this book have been fictionalized for educational content and impact.

Honolulu Star-Bulletin even tried finding this "Rich Dad". I mean in the 1950's not alot of men owned "convenience stores" in Hawaii. John T. Reed does an excellent analysis of Robert T. Kiyosaki's books.

Cliffs: Great storyteller, bad financial advisor.

 

[bloggerdon]

I personally thought it was a excellent read, but I am not even going to take any of Richard's advice with a grain of salt. I believe he is an excellent writer and storyteller, nothing more. Wall Street Journal already dubbed one of his books; Rich Men, Poor Advice. Also there is a fine print in his book; Although based on a true story, certain events in this book have been fictionalized for educational content and impact.

Honolulu Star-Bulletin even tried finding this "Rich Dad". I mean in the 1950's not alot of men owned "convenience stores" in Hawaii. John T. Reed does an excellent analysis of Robert T. Kiyosaki's books.

Cliffs: Great storyteller, bad financial advisor.

Wall street would say that wouldn't they. But look at the terrible advice they give everyone, they dislike robert cos robert dislikes them. I wouldnt touch the wall street journal with a barge-pole because they are part of the world that want you to be poor and buy into their bullshit.

One piece of advice i gained from reading conspiracy of the rich is to invest in companies that pay dividends, cash flow. It's not as lucrative in the short term, but it is far less time consuming because with capital gains you have to invest a butt-load of time studying the market... and even then it's hard to predict whether the value of a certain share will go up or down due to human behavior driving markets, which is well known to be irrational. One of the economic laws is that humans are irrational.

Notice in that video that the guy was giving advice like "flipping". That's capital gains, you have to pay tax on that... whereas rent you dont, cash flow is usually tax free. The guy in the video is a joke, lol, using credit cards to invest, take a business loan instead sheesh.

Another piece of advice I found crucial to changing my mindset is "Assume Nothing, Question Everything", not from robert though, it's from Freakonomics.

Oh and the formula i live my life by: Life - Fear = Freedom.