Been reading these books several times, didn't get anything out of them. What inspirations people get from rich dad, poor dad ? What exactly is the secret in think & grow rich ? I don't get it !
rich dad poor dad, think & grow rich, I don't get it
- Thread starter on the move
- Start date
Here's what I got;
1. Investment debt versus doodad debt.
2. Property investment
3. Business investment
4. Getting educated financially
5. Passive income versus PAYE income
6. Taking action to secure your own future - read "Rich Dad's Prophecy" to get a wake up call about the future. Maybe all BS, but maybe deadly accurate too.
In one word - MINDSET - was the biggest thing I got out of it/them.
They make you aware of the mistakes we all have made with our money, and how to correct them, starting with your mind. Concepts, habits.
From here, I went out and found more "nuts and bolts" information and then took action.
Simple things like ; went out and bought an IP instead of a $20k European Holiday or new car.
hi on the move
simple
there are four type of groups and you need to work out which you want to be in.
and then it tells you which is which and thats for the books to explain.
for me
the best thing these books or cds tell you is that to make you way thru from one level to another
you need an income stream.
now that stream can come from anyone of the quarters.
for me I like not an income stream but many.
not big streams but little ones and when joined together they become a larger stream
anyone that has 10 houses in hicks ville does the same
they have all posi properties that are a little bit positive each and joined become an income.
a ceo on a board is not a ceo of one board you will find him on lots.
same principle.
mlm systems
are the same
even woolworths is the same
they have lots of other businesses that feed into the corporation and create other income streams
for me this is the basis for this type of book.
if you wish to be inspired try to get a cd called
a man with a dream will never be denied.
by louie carrillo.
I have a copy
simple
there are four type of groups and you need to work out which you want to be in.
and then it tells you which is which and thats for the books to explain.
for me
the best thing these books or cds tell you is that to make you way thru from one level to another
you need an income stream.
now that stream can come from anyone of the quarters.
for me I like not an income stream but many.
not big streams but little ones and when joined together they become a larger stream
anyone that has 10 houses in hicks ville does the same
they have all posi properties that are a little bit positive each and joined become an income.
a ceo on a board is not a ceo of one board you will find him on lots.
same principle.
mlm systems
are the same
even woolworths is the same
they have lots of other businesses that feed into the corporation and create other income streams
for me this is the basis for this type of book.
if you wish to be inspired try to get a cd called
a man with a dream will never be denied.
by louie carrillo.
I have a copy
OTM, bare in mind a lot of these books (the Rich Dad one's especially) are directed towards the masses who don't have much financial literacy. It's designed to give them a bit of a wake up call.
Once you're actually past that beginner stage (which a lot of people will never get past, though they keep reading all those books) - the books don't really offer as much anymore as you already have the required mindset and to an extent most of the beginners knowledge those Rich Dad books can offer.
I enjoyed reading the Rich Dad book, but didn't really take an aweful lot from it as I was already in possesion of most of the ideas, and let's face it - a lot of it is pretty basic stuff just put onto paper. He also lacks specifics, has a lot of broad brush strokes and words to get you excited - but not a lot of nuts and bolts. I'm also of the opinion that 'rich dad' himself is fictional, but if it's helped people then RK has achieved what he set out to do and in the process made himself rich. I do tend to agree with some (not all) of the comments John T Reed makes about him although he can be overly critical.
Once you're actually past that beginner stage (which a lot of people will never get past, though they keep reading all those books) - the books don't really offer as much anymore as you already have the required mindset and to an extent most of the beginners knowledge those Rich Dad books can offer.
I enjoyed reading the Rich Dad book, but didn't really take an aweful lot from it as I was already in possesion of most of the ideas, and let's face it - a lot of it is pretty basic stuff just put onto paper. He also lacks specifics, has a lot of broad brush strokes and words to get you excited - but not a lot of nuts and bolts. I'm also of the opinion that 'rich dad' himself is fictional, but if it's helped people then RK has achieved what he set out to do and in the process made himself rich. I do tend to agree with some (not all) of the comments John T Reed makes about him although he can be overly critical.
Exactly right. If you were wanting to write a book with maximum market potential, would you write one targeted at the 95% of the population or the other 5%?
In terms of achieving the objective (make money through massive book sales and try to teach the masses some financial skills) they do the job very well.
On The Move - The only secret is that there are NO SECRETS. But don't tell anyone, though, or else the seminar promoters will go bust.
I have read the book a few times,each time i get something new but it's just a book,for the firstime investor it gives them a wake up call,for longterm investors it also gives you a look at what you may have failed to do,i was told 25 years ago by one of the top 5 developers in Qld who is still working,there are 3 types of investors,..
Those that think about it
Those that talk about it happening
And THOSE THAT MAKE IT HAPPEN..that was his simple secret..
just work out which one you want to be..willair..
I used to fool myself into thinking that a classic sports car was an "asset". Some people "invest" in race horses.
Now I know that if it $hits, you have to feed it, it floats or you can drive it, then it's NOT an asset
Those that think about it
Those that talk about it happening
And THOSE THAT MAKE IT HAPPEN..that was his simple secret..
Love that quote.
I believe in asking ppl who have succeeded in their endeavours rather than the others that say you should do this or that but they never have practiced what they preach!
Excellent books to read but as the thread is hinting at it is the way a person thinks as to whether they are successful or not.
One of my fav books is "Become a Better You" by Joel Osteen.... if you are not religious, it is still an excellent book to consider and help motivate you into action. Yes, I am not religious.
Michael
Those that talk about it happening
And THOSE THAT MAKE IT HAPPEN..that was his simple secret..
Love that quote.
I believe in asking ppl who have succeeded in their endeavours rather than the others that say you should do this or that but they never have practiced what they preach!
Excellent books to read but as the thread is hinting at it is the way a person thinks as to whether they are successful or not.
One of my fav books is "Become a Better You" by Joel Osteen.... if you are not religious, it is still an excellent book to consider and help motivate you into action. Yes, I am not religious.
Michael
I used to fool myself into thinking that a classic sports car was an "asset". Some people "invest" in race horses.
Now I know that if it $hits, you have to feed it, it floats or you can drive it, then it's NOT an asset
There's an insurance ad (I think RACV) currently where the dim-witted husband turns up with the new sportscar and proceeds to tell the super-intelligent wife (luckily I don't give a rats about sexism) how he has just purchased an "asset".
Imagine the effect this will have on the penguin parade.
Conversely, one of my mates has a brother who bought an older model Porsche ($100k plus) and makes nice coin out of renting it out for photo shoots and ads.
So, some sports cars really are assets, but if you need to ask how much it costs - it's not likely to be an asset.
I used to fool myself into thinking that a classic sports car was an "asset". Some people "invest" in race horses.
Now I know that if it $hits, you have to feed it, it floats or you can drive it, then it's NOT an asset
When i got my first job in IT back in Auckland, on first day i bought expensive SUV (instead of investment property). It was far beyond my affordabilty at that time but i was flying that i have dream car. After 2 years i was still paying minimum and sold the car for far less, keeping the debt.
I wish i had read the book at that time but now when i have read, i m managing with less than 3k car and easily affording my investment properties. It makes difference with right mindset.
I bought a nice little MG. Not an investment, but I will always be able to sell it for what I paid for it, so all it is costing me is the interest I would have saved if the money was in an offset account.
The wife's car on the other hand has dropped in value over the last 3 years by more than the cost of my MG.
She still thinks that her car was the better buy?????
The wife's car on the other hand has dropped in value over the last 3 years by more than the cost of my MG.
She still thinks that her car was the better buy?????
I suspected rich dad & his son Mike may not have existed. It just mad eit an easy and interesting way to get the point of the story. Now, a lot o ftthe time after the big aha moment, I started thinking, this is common sense, I know this already... in conclusion, I knew some of it, leanred more and I could see the picture clearer.
