Rich dad poor dad book review
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Rich Dad Poor Dad is a book that both taught me some things, and made my blood boil. Do something! This is a common case of someone who can build a beautiful hamburger, but knows little about business. This is another lesson I strongly agree with: pay off your debts and start investing as soon as you can into things that can generate revenue.
Is rich dad poor dad practical
This is the section of the book that causes a lot of controversy when discussed. With the internet, there are many ways to distribute and monetize your intellectual property: sell crafts you can make, create websites out of your own ideas, sell your music or performances. But there is almost no personal planning for that future. Also, I have this thing where I through phases of obsessively reading and learning about new things. I agree with this sentiment entirely — good ideas are always more valuable than good labor, because you can keep mining good ideas, while good labor is spent the second you do the work. The thing is, not everybody is afforded the same opportunities, and the point about high risk, is that risks are high. I think he excuses away a lot of social responsibility and that his personal investment stories are unhelpful. One of my favorite quotes is from his Rich Dad: Most people never study the subject [money]. On top of that, they wonder why they have money problems. The first chapter is pure magic—read it. We need shelter and to live somewhere. He received no replies from the ad, and all of his inheritance is now gone.
The point is to convince you that you… Still Want More? Also, I have this thing where I through phases of obsessively reading and learning about new things.
But while The Wealthy Barber basically related the basics of personal money management in the parable along with examples that you could directly research and work out yourself, Rich Dad, Poor Dad is about a complete rethinking of how money works. In Rich Dad Poor Dad, Kiyosaki simplifies it by saying all you need to do is acquire assets and minimise liabilities.
But it also scared me. The Bad The book starts to fall apart when you start trying to use it for concrete examples. It is fervently anti-intellectual. Basically, you become rich by accumulating assets, assets as defined by this book.
Rich dad poor dad review summary
Ask questions! This book bats you over the head with a few ideas one of which is that The Poor should just stop being so poor! Without a doubt, this was my favorite part of the entire book, even with the short, out of place rant about the gold standard actually a misnomer, because the only way the book makes any sense in terms of time is if the rich dad is actually talking about the Bretton Woods system and not the true gold standard and how the United States was doomed if they abandoned it. Two months later, his first four-color, full-page ad appeared in an expensive magazine that targeted the very rich. For example, your home is an asset because it is something you own that has value. The ad ran for three months. Lesson 4: The History of Taxes and the Power of Corporations This is the section of the book that made me start disbelieving in the overall ideas presented. One of my favorite quotes is from his Rich Dad: Most people never study the subject [money]. There are some advantages of keeping money in a corporate structure as an individual person, but they mostly relate to minimizing taxation on reasonable expenses related to money you earn independent of employment. He won, I guess.
Too many people equate rich with material things, so I enjoy it when it is shown that being rich often has very little connection to material possessions. To Robert Kiyosaki, an asset is something that generates income, while a liability is anything that has costs.
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