Rich Dad, Poor Dad....A Scam?

[Interpol]

Originally posted by Francisco d'Anconia
I could care less how much money he has, I'm smart enough to do my own research on his theories. I have and have become more successful because I took advantage of what I found out.

It's like this, if we had the same perspective as you, we wouldn't be giving a 19 year old the time of day with prattle such as yours. You can't even buy a beer and we are supposed to listen to your insight? You still live at home, don't you?

You're missing the point. I bet you'd be even more succesful if you read some books that offered real, useful advice. How am I supposed to take Kiyosaki seriously when he says things like "I'm worth $50-100 million, depending on what day it is". What the fvck is this guy investing in that fluctuates 50% of it's value daily? Oh wait, he refuses to tell anyone!

I'm not necessarily saying that he's a complete liar or even that he gives bad advice. But reading his book is only going to give you a warped sense of reality and not a whole lot of realistic investing advice.

 

[Francisco d'Anconia]

Originally posted by Interpol
...I'm not necessarily saying that he's a complete liar or even that he gives bad advice. But reading his book is only going to give you a warped sense of reality and not a whole lot of realistic investing advice.

That's hard for me to believe since it's making me money. Maybe because I didn't need someone to tell me specifically what to invest in.

Does anyone else here feel that Interpol is looking for someone to tell him how to get rich quick without putting forth any personal effort?

 

[Interpol]

Originally posted by Francisco d'Anconia
That's hard for me to believe since it's making me money. Maybe because I didn't need someone to tell me specifically what to invest in.

Does anyone else here feel that Interpol is looking for someone to tell him how to get rich quick without putting forth any personal effort?

When did I ever say anything like that? Could you please point it out? I'm not looking to "get rich quick" nor did I ever even imply anything of that sort.

My main point is that Kiyosaki's advice is oversimplified, presented in unrealistic terms, and should not be recommended to people who want to learn about investing. There are much better sources out there, even at the beginner's level.

 

[MetalFortress]

Originally posted by Interpol
Why don't you ignore my age and address my actual argument?

In this case, your wealth status and age have EVERYTHING to do with your argument, because you are a kid who has not made money in real estate, arguing with older guys who HAVE made money in real estate. They have credentials. You have none. Their words have backing. Yours don't.

 

[Francisco d'Anconia]

Originally posted by MetalFortress
In this case, your wealth status and age have EVERYTHING to do with your argument, because you are a kid who has not made money in real estate, arguing with older guys who HAVE made money in real estate. They have credentials. You have none. Their words have backing. Yours don't.

YEAH! What MF said!!!!

 

[Fenderules]

yeah also read "real estate riches"

its the rich dad poor dad series, that gives a lot more detail on how real estate can work for you. I love it and i am actually gonna be getting into it soon



One good benifit unlike the 80's is the interest rate is sky Low. While there was the real estate boom then, you have extremely low interest now so that can be a benifit. Where i live it is not a renters market but it is buyers markes. Whoever said "dont expect to make as much money is quick" is balony. you just have to know where to look. Here i live in calgary and many property prices are rising up to 10% year. so if you bought a 240, 000 dollar home and sold it in a year you would have an additional 24 thousand on top!!!!

when my mom bought our house 8 years ago she paid 163 000, now we can sell it for 277,000!!!!1 thats freak'n nuts.

 

[Francisco d'Anconia]

Originally posted by Fenderules
yeah also read "real estate riches"

its the rich dad poor dad series, that gives a lot more detail on how real estate can work for you. I love it and i am actually gonna be getting into it soon



One good benifit unlike the 80's is the interest rate is sky Low. While there was the real estate boom then, you have extremely low interest now so that can be a benifit. Where i live it is not a renters market but it is buyers markes. Whoever said "dont expect to make as much money is quick" is balony. you just have to know where to look. Here i live in calgary and many property prices are rising up to 10% year. so if you bought a 240, 000 dollar home and sold it in a year you would have an additional 24 thousand on top!!!!

when my mom bought our house 8 years ago she paid 163 000, now we can sell it for 277,000!!!!1 thats freak'n nuts.

Here's an example of what experience can do for someone no matter their age. Fenderules' post sounds much more plausible than one that just says "Rich Dad is a Scam."

Although real estate is a good way to adjust your cash flow, I have found other investment strategies that are alluded to in Rich Dad that will not only lower my income and increase liquid assets, but also will be available without penalties PLUS have guaranteed growth for the life of the entire product.

But just to be an @ss like Robert Kiyosaki, I'm not going to say exactly what it is other than it's insured. Hey, why should anyone have to give away information that they worked hard learn?

By the way, "Cashflow Quadrant","Loopholes of the Rich","Rich Dad's Guide to Investing" and "Retire Young, Retire Rich" are all good books if you want to learn and understand how to build wealth without needing someone tell you step by step tasks. Come on, if it were that easy, we'd all be rich....

 

[STR8UP]

Originally posted by Interpol
There are much better sources out there, even at the beginner's level.

Would you mind sharing your "sources"?

If you say "Suze Orman" or any of the other debt nazi parrots I just might puke.

 

[Francisco d'Anconia]

Originally posted by STR8UP
Would you mind sharing your "sources"?

If you say "Suze Orman" or any of the other debt nazi parrots I just might puke.

:crackup: :crackup: :crackup:

That was good. I read one of her books once, only once.....

 

[STR8UP]

Originally posted by Francisco d'Anconia
:crackup: :crackup: :crackup:

That was good. I read one of her books once, only once.....

I catch bits of her tv show from time to time just to have a good laugh. Seems like her brand revolves around her personality. I can't think of any other reason why someone would waste their money on that repackaged and regurgitated "wisdom".

Funny how the people who want to lynch Kiyosaki and the other creative thinkers have no problem with Suze Orman and Dave Ramsey and all of the others who simply package the same old tired financial knowledge in a new form and pawn it off as if it's groundbreaking stuff. Just goes to show how those who don't rock the boat manage to gain the favor of the general public.

 

[Alpine]

Now there's this yank. I can't remember his name, (there in lies a clue) he's supposed to be the second richest guy in America after Mr Gates, I don't think he makes anything magical or does anything spectacular, but none the less he's fvckin loaded.

If he's written a book, then I like to read it.

 

[Francisco d'Anconia]

Originally posted by STR8UP
I catch bits of her tv show from time to time just to have a good laugh. Seems like her brand revolves around her personality. I can't think of any other reason why someone would waste their money on that repackaged and regurgitated "wisdom".

Funny how the people who want to lynch Kiyosaki and the other creative thinkers have no problem with Suze Orman and Dave Ramsey and all of the others who simply package the same old tired financial knowledge in a new form and pawn it off as if it's groundbreaking stuff. Just goes to show how those who don't rock the boat manage to gain the favor of the general public.

That's just it, Suze and Dave cater to the masses of mediocrity. The 80% that can understand 'typical' thinking about wealth. These are the people that believe that saving money will make you wealthy. These are the people who read books like "The Millionaire Next Door," the ones who are more than capable saving money but making money is a bit over their heads.

That said, Robert writes about how millionaires are made, by their own merit. Of course his ideas aren't that of the norm. The norm at best creates a mass of upper middle class, 36% tax bracket working stiffs. Robert's ideas talk about the methods that people who aren't afraid of deviating from the norm, the ones who are willing to do what works for them.

You know when you think about it, there are AFCs and DJs in the ways of finance too...

 

[Interpol]

Originally posted by Alpine
Now there's this yank. I can't remember his name, (there in lies a clue) he's supposed to be the second richest guy in America after Mr Gates, I don't think he makes anything magical or does anything spectacular, but none the less he's fvckin loaded.

If he's written a book, then I like to read it.

Warren Buffet.

 

[MetalFortress]

I could have sworn I saw one of that dude's books in Waldenbooks or BN.

Anyways, Donald Trump is also a good read.