There has been some great comments on the Rich Dad Poor Dad semi-review I posted the other day.
I thought I would write a separate post to address some of the comments..
I also think that it doesn't really matter what field you are in, you need to enjoy it. If you don't like the work you do, you're never going to find it as rewarding even if it does pay more than something you do enjoy. Money isn't the only measure of success
Definately, this is why I like the statement about "work to learn, not to earn", I think we are only truly happy when we are growing as an individual. (e.g. learning). The only reason I have begun reading financial books is so that I can take help to take the financial equation out of the picture when working, so I can spend more times on really fun projects (like this site!) and working in the community in general.
It sounds a bit of hedonistic.
The joy is not the point. Nor is money.
It's like the point is more fuzzy then it is point it self. And the meaning of life (not the Monty Pyton's) is hardly possible to reach concerning money, poorness and richness. It may be interesting now that we think that we are capable to achieve almost everything from our dreams, ... but the point is in ... harmony ... peace of mind ... , anyway its a long run race with very obvious ending ?!.
Good point, financial freedom is only a small part of the puzzle, the goal is not the "richest man in the graveyard!". Taking care of yourself, your family, your community is far more important.
Great book! - I read it 2 years ago, and that's what motivated me to start my own business(s). I even went and saw him live when he was in Melbourne - very motivational indeed!
Great! I wish I had read the book back then, I might have attended.
You are making one good move right now.
Studies showed that being married dramatically increases your wealth. And of course it showed that Divorce decreases your well by like 70%.
So, Even though I am sure you don't need this advice. Remember the good word. Love is Patient, Kind, love is not jealous or boastful, arrogant or rude, does not insist on its own way; it is not irritable or resentful...
You knew all this before. :)
Hehe, it doesn't feel like that at the moment, wedding, new house has dwindled my 7 years of savings! But you can't put a price on happiness.
Living below your means is a good way to secure your future. My advice is to buy a used car instead of a new one, rarely eat at restaurants, and automatically make 401(k) and IRA contributions from your paycheck (if you never 'see' the money, you're not tempted to spend it). I have a dozen or so tips -- those were my top 3 personal improvements in 2005.
The Wealthy Barber is an excellent book on investing, which I recommend to anyone interesting in finance, investing, retirement, etc.
My typical car buying pattern (I've only ever had 1!), would be to buy a car a few years old, and keep it for at least 7-8 yrs (until the car is 10 yrs old) and repeat.
The best way to reduce my means was starting my business and this site. As a business owner you have to live X amount of months in the future. e.g. what happens if revenue goes down? How long can I survive?
I like Robert's definition of wealth in the book, you are wealthy when your passive income exceeds your expenses. I'll check out the wealthy barber, thanks for the tip!
Rich Dad Poor Dad also has a lot of negative reviews. Realize this book is often hyped by multi-level marketers who want to convince ppl to work on their own. And the author is notorious for saying a lot of fluff and motivational stuff without any real concrete advice. Kinda like an infomercial.
If you are looking for a similar book try Think and Grow Rich by Napolean Hill. This book was written a long time ago from research done with Rockerfellar, JP Morgan, Ford and all those big guys back then. It is still popular today and has a lot of respect in the academic community.
Yep, I have read the reviews and agree with some of them. I dislike multi-level marketing and would never buy into it. (You need to add value to this world and I don't believe multi-level marketing does this). Robert highlights real estate as an investment vehicle in his books too, this would not be my chosen investment in the short term (Australia is just coming out of a boom and prices are still sky high).
The best investment is something that you would really care for (and understand), I've worked primarily in the mining and manufacturing area of IT, so I would probably stick to these type of stocks.
I have heard great reviews about Napolean Hill's book and will check it out, thanks for the tip!