Hi China
As with many things on the forum at the moment , IMHO , you are missing the point .
That book contains simple commonsence advice which is timeless. Along the lines of
- The richest man in babalon
- How to win friends and influence people
- Who moved my cheese
That book has absolutely nothing to do with social media and has everything to do with the spending habits of Gen Y and why some will become wealthy and most won't .
Just because it was written in the 90's and the research might be outdated , it is actually fairly unique in this area that it does have research , and unlike most isn't just based on opinion. But that just my opinion .
Cliff
+1 Timeless advices and wisdom doesn't age with time ... but fashion do...
A part of all I earned is mine to keep it relevant in 1929, still relevant today and 100 years from now.
Nothing wrong with millionaire next door advice you to spend less than you earn and
education is important but don't send your kids to expensive private school if you cant afford it...
you see lot of fashion on the stock market, what's the next big thing...
new valuation method, new paradigm but the good old fashion of buy
business with strong balance sheet, good cash flow always delivered exceptional return and all the fabs and fashion disappear just as fast as they come on to the scene...
Before GFC bankers was touting business with little debt and strong cash flow as lazy balance sheet then came GFC the debt laden business went belly up these guys capture all market shares and came out twice as strong...
Debt laden properties investors with heavy negative gear properties will feel the same heat when the time comes when they may be out of a job or salary drop and asset price dropping.
Nothing lazy about running a robust business with little debt, strong cash flow and high rate of return..
I haven't seen the lazy balance sheet fashion since GFC ...but like all fashion they will be back at some point in time ....