Finally bought Rich Dad Poor Dad book
- Thread starter JennD
- Start date
Make sure you're not operating heavy machinery whilst reading it. I also recommend not trying to read it in the dark when in bed as I've been told its not good for your eyes.
Hahaha. I meant in terms of - is it going to be a 'happy clappy' book, or am I going to actually get something from it?
I'm big into reading (and critique quite openly) so would rather read something I'm going to get the most from!
I found some ideas in it to be epiphany moments, such as the ground-breaking concept that our PPOR is NOT our greatest investment. Rather it is a liability - a deep dark money pitt abyss into which we throw a lot more cash than what we need in order to house ourselves. I read RDPD when it was first released and i couldnt put it down, read it cover to cover in one day.
Something to remember is that this book is American, and we have a different housing industry and culture here, so not all of his material is relevant. Take what is relevant and dont stress the other stuff. Happy reading.
Something to remember is that this book is American, and we have a different housing industry and culture here, so not all of his material is relevant. Take what is relevant and dont stress the other stuff. Happy reading.
thanks for this! Really appreciate it, and good pt re: American. I saw so many spin-offs in the book shop (Kinokuniya for any of the big Sydney book fans) even one for teens! I never realised it had such a following.
I'll let you know how I go
.
Agreed.
IMHO, it's big on ideas and small on strategy (plus being US-centric). As a catalyst to make one think beyond "get a job, buy a house, pay it off, retire on the pension" it does a pretty good job.
LOL. I did specialist mathematics and university maths in High School and I only understood accounting at the very end of the semester. It's very badly taught in university.
I personally think High School was a joke (which is why I left). Till this day I have not come across anything I have been taught in school and what they teach about accounting is kinda errr... One thing I believe R. Kiyosaki says and I quote "School teaches you how to work for money, not how to make money". I love it.
All in all, RDPD is a great read, you'll learn a few things.
All in all, RDPD is a great read, you'll learn a few things.
fortunately it was fiction, otherwise I agree it would be highly offensive. Poor Dad would be beside himself that he raised a child that valued money above blood relationships. Poor Dad could reply with something like "Genuine Dad, Ungrateful Brat" or "Go on have him, he's all yours"
Hahaha. I am starting reading this weekend, so I'll bear in mind there's some injustice done to the poor dad.
Already fairly inspired with investing (I guess you have to be when you're speaking to people every day about it), so I'm excited to see if this ups this or if it's the "same old".
Either way, will pass it on to my own parents who struggle in analysis paralysis despite having more capacity than most to invest for their retirement. Intelligent, wonderful people with plenty of ideas... but excessively risk averse.
Love the idea of 'spreading the word' but be careful that some people's brains aren't rigged the same as ours and will be closed of to new ideas.
One of my best mates and his wife are on 6 figures each in their late 20s, and seeing as my girl and I had 2 props on half their salaries, I figured they'd love to know about neg gearing and how to invest their spare cash. Bought them a copy of the book and it went down like a lead balloon.
I wish my school friends etc could understand the principle of passive income, but unfortunately no-one does... Luckily these forums exist - looking fwd to hearing how RDPD goes for you!
It's strange isn't it.
You try to help but they are just not interested, or won't change.
Some people just want to do it their way.
More money into the pot to be taken by those who play their cards right.
that education thing I struggle with on a daily basis in what I do for a crust
Over the years I have learnt that for most that dont listen right now, its simply not the right time, and even those that do take some one board, their immediate focus is to save 2 bob and in the process forgo financial security.
But, thats ok, for each of us has our own personal journey.
ta
rolf
Haha, nice poker analogy, but of course it's more satisfying to rake massive pots from unknown whales than your friends and families...
Similarly you prefer to see your friends and family succeed rather than have the chance of them grinding away on the pension in retirement instead of holidaying with you in the Greek islands.
RDPD is an excellent introductory resource, but just like any personal development book or seminar, you have to allow the information to freely enter your mind or you'll be fighting an uphill battle.
