Robert Kiyosaki – Rich Dad Poor Dad
Rich Dad, Poor Dad: What The Rich Teach Their Kids About Money – That The Poor And Middle Class Do Not!
Publisher: TechPress, Inc. (1998)Language: English
According to the Social Security Dept., only 5 out of a 100 people will, at age 65 be financially independent. The remaining 95%, according to well researched information, will be dependend on friends, relatives, social security (if it is still around) or still be working.Interesting is that these statistics are not limited to low income earners but also include highly paid professionals. People we typically assume to be well off.A lot of people want to think, “get good grades in school, go to college, get a good job, save your money and you’ll be all right.”The sad fact is that school teaches precious little about becoming successful. All of the courses we took, how successful have we become as result of those courses?Kiyosaki teaches to think differently. He teaches us what we were not taught in school, because those teachers didn’t know either.Kiyosaki teaches us how to invest for success. Kiyosaki wants you to research investment information first and then go to a broker who is on your team. Conventional wisdom teaches you to go to a broker or financial planner and say; “Here you watch and invest my money, because I don’t know how.”Kiyosaki teaches us to become independent as entrepreneurs instead of dependent as employees. Your employers strongly disagree with this. They want you subservient, not free and God forbid doing even better than them!Kiyosaki’s advice is not for everyone. It is only for those who want to be in the top 5%. Those who aspire to become entrepneneurs and investors and who want to control their own destiny instead of being controlled by unappreciative employers.Which group do you wish to be a part of? Kiyosaki will tell you some things you don’t want to hear. He is controversial. Kiyosaki tells us that a house is not an asset. Most of us will have a problem with that one. Most of us feel that real estate is the one safe have out there and are taught by parents and other early mentors that a house is an asset. Then we got a house and found out that Kiyosaki is absolutely right and so were our mentors. A house is not an asset for the buyers, but it certaintly is an asset for the banks, real estate agents, insurance people, the local government who wack you with high city taxes and so on. The biggest problem is that many people think that a big house is a symbol of wealth. It is a symbol of wealth to the bank. Most people typically take out 30 year mortgages. How much do you think banks make on that while you are paying for the equalivent of three house payments over time?Conventional wisdom tells us to get a great education and you’ll get a great job. Well it started in the Clinton era and has been escalating ever since—downsizing. People who spent tons of $$$ on a college education, invested years in their jobs being servants to their employers and for what, to be downsized?And then there is the typical way that people invest. Conventional wisdom tries to tell us that we can’t do it on oour own. We need brokers (so named because they make us broker with their advice) or other financial advice. Those who do try it on their own usually get bad advice and go to deep, deep discount brokers looking for the lowest commissions or on the other end pay fees for loaded mutual funds which are supposed to be better managed (HINT: They are not!)Kiyosaki offers a newer, better, more effective way.
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