Damon is a Darlin
Damon you are a darling. Finally the New York Times gets the balls to call Rich Dad and those other gurus out. If you read my previous entry on Rich Dad you will know my feelings on the subject so I won't rant any further. However I urge all of you to read Damon's most triumphantarticle.
According to the article.
You'll get the same advice reading this newspaper or any number of financial advice columnists at no additional cost, though you may not get the urge to aspire.
Apparently the book industry loves aspiration.
"People do respond to it," said Rick Wolf, vice president and executive editor of Warner Books, the publisher of the series. The old rules no longer apply in a world of outsourcing and pension plan collapses, he said.
"People are definitely looking for some alternative pathways to financial freedom," Mr. Wolf said. "The staying power speaks for itself."
In other words people are so scared of what is going to happen to their jobs and futures that they are willing fork over their hard earned money to a man who is taking advantage of their fears by claiming to have the map to financial freedom. When the evidence he made his fortune not from real estate or investing but from selling his rich dad books.
Why the need for inspiration? "When the stock market bubble collapsed in 2000, ordinary Americans - who had watched their stock portfolios effortlessly rise in value during the late 1990's - quickly realized that the notion that they could outsmart the market was an illusion," said Mr. Drake, who will publish Mr. Bach's follow-up in March, "The Automatic Millionaire Homeowner."
I think your own life should be a constant source of inspiration. For instance if you are married and are expecting a child, that should inspire you to look at your finances and figure out a way to create another revenue stream.
Their books, as well as "Secrets of the Millionaire Mind" by T. Harv Eker, another regular on the motivational seminar circuit, recycle a lot of the language and advice of those hotel ballroom talkathons; namely, you have been conditioned to think like a poor person, but you can remake yourself to think rich. Mr. Eker suggests a daily affirmation in which you put hand over heart and say: "I am an excellent receiver. I am open and willing to receive massive amounts of money into my life." You then touch your head and say, "I have a millionaire mind!".
Reading these books will definitely stop you from thinking like a poor person. Instad it will condition you into thinking that you need to buy more books on becoming rich, therefore making the authors rich and you lot poorer.
But they are light on practical advice. And sometimes what they advocate seems counterproductive. Mr. Eker, for instance, recommends creating a fund just for frivolous purchases because you need to fill your inner spirit.
What is this inner spirit called? Credit card debt? If you want to fill your inner spirit go to church, temple, become a Buddhist or join the Peace Corps. Money has no place there. By substituting consumption for spiritual well being you will be creating a black hole that will never be filled.
Mr. Kiyosaki admits in his book that buying real estate at foreclosures or tax sales and investing in thinly traded start-up companies is risky. But he writes that salting money away each month "blinds the person from what is really going on."
"They miss major opportunities for much more significant growth of their money," he writes.
Ok. Obvioulsy Mr. Kyosaki has never heard of the concept of multitasking. You can save your money and look for other opportunities to invest. It is not hard to do. In the real world it is called not being an idiot.
Tax sales, foreclosures and companies that are balancing on the start up edge of oblivion are not the safest investments in the world. So if Bobby knows this why the hell is he pushing these investments onto first timer investors? Because he doesn’t know what the f**k he’s talking about.
This is advice for people who like to live on the edge. Mr. Kiyosaki counters that the risk of failing is a motivation to make more money.
This is advice for people who are too lazy to roll up their sleeves and embrace the concept of hard work.
The core motivation of money is to make a profit. Risk of failing should be treated as a risk. That's it. Kiyosaki keeps confusing the two. Unfortunately failure is a constant specter in the world of investment. You can do everything in your power to make an investment but you can’t completely eradicate it. I am not saying you should be afraid of it or yield to it but you need to be aware that failure is there. However simply focusing on avoiding failure will distract you from making the right decisions.
The bottom line is: save your money by not buying these books. At about $25 a book, buying one every year probably will not decimate your retirement fund. But if you don't, you'll have at least $2,370 more in 40 years.
Amen my brother.
You want to know how to get rich? This is what I learned about rich people.
1.They are good at math. I’m not talking calculus. I am taking old fashion add,
subtract, multiply and divide.
2.They are consistent at whatever they do. Whether it is Donald Trump or Bill Gates,
rich people focus on a specialty and master it.
3.They don’t do anything stupid with their money.
4.They educate themselves.
5.They save.
6.They don’t buy stupid books filled with boilerplate information.
Yes. It's that simple. Now if you still think the grass is greener then by all means satiate your curiousity. But just go to the library.
According to the article.
You'll get the same advice reading this newspaper or any number of financial advice columnists at no additional cost, though you may not get the urge to aspire.
Apparently the book industry loves aspiration.
"People do respond to it," said Rick Wolf, vice president and executive editor of Warner Books, the publisher of the series. The old rules no longer apply in a world of outsourcing and pension plan collapses, he said.
"People are definitely looking for some alternative pathways to financial freedom," Mr. Wolf said. "The staying power speaks for itself."
In other words people are so scared of what is going to happen to their jobs and futures that they are willing fork over their hard earned money to a man who is taking advantage of their fears by claiming to have the map to financial freedom. When the evidence he made his fortune not from real estate or investing but from selling his rich dad books.
Why the need for inspiration? "When the stock market bubble collapsed in 2000, ordinary Americans - who had watched their stock portfolios effortlessly rise in value during the late 1990's - quickly realized that the notion that they could outsmart the market was an illusion," said Mr. Drake, who will publish Mr. Bach's follow-up in March, "The Automatic Millionaire Homeowner."
I think your own life should be a constant source of inspiration. For instance if you are married and are expecting a child, that should inspire you to look at your finances and figure out a way to create another revenue stream.
Their books, as well as "Secrets of the Millionaire Mind" by T. Harv Eker, another regular on the motivational seminar circuit, recycle a lot of the language and advice of those hotel ballroom talkathons; namely, you have been conditioned to think like a poor person, but you can remake yourself to think rich. Mr. Eker suggests a daily affirmation in which you put hand over heart and say: "I am an excellent receiver. I am open and willing to receive massive amounts of money into my life." You then touch your head and say, "I have a millionaire mind!".
Reading these books will definitely stop you from thinking like a poor person. Instad it will condition you into thinking that you need to buy more books on becoming rich, therefore making the authors rich and you lot poorer.
But they are light on practical advice. And sometimes what they advocate seems counterproductive. Mr. Eker, for instance, recommends creating a fund just for frivolous purchases because you need to fill your inner spirit.
What is this inner spirit called? Credit card debt? If you want to fill your inner spirit go to church, temple, become a Buddhist or join the Peace Corps. Money has no place there. By substituting consumption for spiritual well being you will be creating a black hole that will never be filled.
Mr. Kiyosaki admits in his book that buying real estate at foreclosures or tax sales and investing in thinly traded start-up companies is risky. But he writes that salting money away each month "blinds the person from what is really going on."
"They miss major opportunities for much more significant growth of their money," he writes.
Ok. Obvioulsy Mr. Kyosaki has never heard of the concept of multitasking. You can save your money and look for other opportunities to invest. It is not hard to do. In the real world it is called not being an idiot.
Tax sales, foreclosures and companies that are balancing on the start up edge of oblivion are not the safest investments in the world. So if Bobby knows this why the hell is he pushing these investments onto first timer investors? Because he doesn’t know what the f**k he’s talking about.
This is advice for people who like to live on the edge. Mr. Kiyosaki counters that the risk of failing is a motivation to make more money.
This is advice for people who are too lazy to roll up their sleeves and embrace the concept of hard work.
The core motivation of money is to make a profit. Risk of failing should be treated as a risk. That's it. Kiyosaki keeps confusing the two. Unfortunately failure is a constant specter in the world of investment. You can do everything in your power to make an investment but you can’t completely eradicate it. I am not saying you should be afraid of it or yield to it but you need to be aware that failure is there. However simply focusing on avoiding failure will distract you from making the right decisions.
The bottom line is: save your money by not buying these books. At about $25 a book, buying one every year probably will not decimate your retirement fund. But if you don't, you'll have at least $2,370 more in 40 years.
Amen my brother.
You want to know how to get rich? This is what I learned about rich people.
1.They are good at math. I’m not talking calculus. I am taking old fashion add,
subtract, multiply and divide.
2.They are consistent at whatever they do. Whether it is Donald Trump or Bill Gates,
rich people focus on a specialty and master it.
3.They don’t do anything stupid with their money.
4.They educate themselves.
5.They save.
6.They don’t buy stupid books filled with boilerplate information.
Yes. It's that simple. Now if you still think the grass is greener then by all means satiate your curiousity. But just go to the library.
posted by Grunt at
10:53 PM
