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Rich Dad Poor Dad?

Discussion in 'BlackHat Lounge' started by onelettershor, Aug 20, 2016.

  1. onelettershor

    onelettershor Supreme Member

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    I finished reading this book a few weeks ago, and the first few days I was really motivated haha. But now I've realised it hasn't really changed my mindset too much. There's too much "hype" over the book in my opinion?

    Who's read this book and what are your thoughts on it? I know that some people disagree with the author.
     
  2. moneymagnet246

    moneymagnet246 Power Member

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    I've read about three or 4 of his books and well it was a reminder for the most part. I think the people giving it hype are people who aren't already knowledgeable on the topic of finance. I did learn about some tax laws though so that was beneficial.
     
  3. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Read it when it first came out. Has some good points but wasn't overly impressed, there are better books to read.
     
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  4. Diskretni

    Diskretni Junior Member

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    It is okay,but it is not impressive or something like that,but all in all it is decent.
     
  5. DJPaulyD

    DJPaulyD Power Member

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    It's a good book to read, but it's not the best book in the world.
     
  6. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    It's a book with mundane advice found in countless other books but with a great story as a wrapper. In essence, you got entertained and the flair of the entertainment faded away.
     
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  7. AdZen

    AdZen BANNED BANNED

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    I read it many years ago. It was enjoyable but not life changing. I recommend you read The Alchemist by Paulo coelho. I've read it 5 times and reading it now to my kids for the second time. It inspires me anyway...
     
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  8. mickyfu

    mickyfu Jr. VIP Jr. VIP

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    Playboy, Mayfair, Fiesta?
     
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  9. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Those are too upmarket for my taste. More of a Razzle and Readers Wives man myself.
     
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  10. edward_scissorhands

    edward_scissorhands Newbie

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    the book was written a long time ago. the concepts are very simple. invest im real estate, invest x dollars gain residual income over pmi, tax mortgage etc profit, scale. Unfortunately markets are inflated and potential profit is added into the price. additionally, lenders wont let ppl leverage themselves like they did back then. that means youll overpay for properties and with a moderate income/assets, banks will deny your loan after a couple properties.
     
  11. soulcollector

    soulcollector Senior Member

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    Mind Control Marketing + Missing Chapter is all you would need for a basis to write compelling copy. It helps you understand the mind a bit more. You can't compare the two books, as rdpd is vague as shit on outdated principles vs mcm and its vague touch on psychology.
     
  12. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    He is basically a con artist

    http://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1
     
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  13. Sebastian Rooks

    Sebastian Rooks Registered Member

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    That was the first business book I ever read, I think it's still on my bookshelf. Depending on where you're coming from, I'd expect it might give you new things to think about. Overall, I remember it favorably, even if the guy is a douche. Someone up above summed it up really well as generic advice in an entertaining wrapper.

    The next book that comes to mind is the 4-Hour Work Week. Also an entertaining read.
     
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  14. charbel

    charbel Senior Member

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    Pick up and read Smarter Faster Better by Charles Duhigg.
     
  15. toml3030

    toml3030 Elite Member

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    Let's put it this way. When the book was published, kiyosaki was living in a very cheap house and was making a living by giving motivational speeches to pyramid scam recruits and there is no public record of him owning any investment, which he would have been legally required to report if he owned stuff he claims to have owned. 1 year after the book was published, he bought a $3 million house. Think about that for a minute. He's a very successful CEO Sam.
     
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    Last edited: Aug 21, 2016
  16. toml3030

    toml3030 Elite Member

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    Do not take tax advice from rich dad. Some of the advice he gives, like telling you that you can write off pretty much anything as a business expense is just flat out wrong.
     
  17. SebWgnr

    SebWgnr Registered Member

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    That's probably what's make this book an interesting read from a marketing view, I mean the guy is definitely a scammer selling bullshit for a living but he made a fortune from it so there is definitely some stuff to learn.
     
  18. Fragmaster

    Fragmaster Jr. VIP Jr. VIP

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    I liked this one so much more:

    https://www.scribd.com/doc/236305921/Felix-Dennis-How-to-Get-Rich-pdf


    Rich dad poor dad sounded so fake. I never bothered to investigate if it really is. But i did read it completely, and still remember vivid childhood memories about his first earned $$ and his first job @ rich dad. And working for cents and renting comic books.
     
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  19. Sristy

    Sristy Jr. VIP Jr. VIP Premium Member

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    Some of the IM forums are better positioned to make you a "rich dad" than that book, IMO.
     
  20. onelettershor

    onelettershor Supreme Member

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    Yeah ^

    It was actually the first "business-y" book I've read.
    I've read like top 10 kid entrepreneurs etc, but that's the first, I'd say "adult-y" that I've read haha.

    Like the responses! It's really opened my mind!