Book - "Rich Dad, Poor Dad"

Darth_Trader

It is indeed a very well-known book. I've got a copy, and think the main points could have been covered in, say, a 10-page pamphlet. That's not to say the information isn't valid though.

For me, it gave a refreshing perspective on asset classes, some of which fits into the general tenor of Martin Lewis's recent blog on mortgages and first time buyers. Kiyosaki asserts that a house isn't an asset until the mortgage is paid off - in fact, that anything that takes money off you is a liability, in this case mortgage interest (presumably, buy-to-let is an asset as it generates income, as long as the income completely offsets compounded mortgage interest). I can appreciate this view, but also like the idea of a leveraged investment (assuming the house-price market was going up!)

It's very difficult to figure out whether the author made his money, then wrote the book; or whether he made his money by people buying his books/games/training courses etc. And from my research, the book is a polariser! Like Marmite, people either love it, or absolutely hate it! Nothing in between.

geordie_joe

Darth_Trader wrote: »

It's very difficult to figure out whether the author made his money, then wrote the book; or whether he made his money by people buying his books/games/training courses etc.

It' nearly midnight,and I always turn back into a frog at midnight, but hopefully I'll have the time to say this.

There are a lot of posts in this thread that I fully agree with, and respect.

For me the sentence I quoted above from Darth Trader is one of the best sentences i have read. It not only sums up the author, but sums up most internet scams.

"I make a lot of money on the internet, pay me and I'll tell you how" So you pay them and find out the secret is to tell people you make a lot of money on the internet, and if they pay you, you will tell them how.

Kimberry

I read this book and a couple others in the series 6 years ago. As a MSE, I borrowed the books from my friend!

For what I can remember, there was a main concept which is simple, if not too common sense. That is the return of our labour work is limited, only moving to investment category can generate income in long term. (Excuse me if I am totally wrong, it had been too long since I read it)

Personally I think the book is better for someone on entry level of personal finance, who want some 'role model' to inspire their own path. HOWEVER, my limit it to spend under a tenner on the book (even better, check with the library).

I don't think the book needs a spam post here, given that it had been around for years. BUT I saw an advert from Merto recently, on seminar/ presentation based on this book! Not sure if it's directly run by the author, but certainly based on the book title. So if this topic is a spam, it must be a clever spam!

(if you are wondering, I can bet you my end of month salary that 'My post IS NOT a spam' :P)

olly300

jo_b wrote: »

I did end up selling the book for a profit on Amazon though as it is quite popular on there!

You've learnt something then whether it's from the book or this site.

jo_b_2

olly300 wrote: »

You've learnt something then whether it's from the book or this site.

I only bought the book in a charity shop because I'd seen it mentioned on a thread in the ebay board as a popular seller! Bought it for 50p, read it that day and listed (and sold it) on Amazon the next day.

Think I made a couple of quid after postage. :cool:

MelUk_3

I know the book, the dvds and played the cashflow game. It's very easy to manipulate it. At least it made me more open minded about new opportunities and I started somethibg really exciting with fantastic potential for residual income.

geordie_joe

Kimberry wrote: »

I don't think the book needs a spam post here, given that it had been around for years.

Maybe the book doesn't, but maybe someone wants to generate interest, or familiarity with the book.

Someone said the book was "well known" and you say "it's been around for years". Well I had never heard of it, and to me a book can't be "well known" unless I know about it. If I don't know about the book, then to me it is an unknown book".

Kimberry wrote: »

BUT I saw an advert from Merto recently, on seminar/ presentation based on this book!

And people will be more likely to attend the seminar if they have heard of the book. You can make money from a book in more ways than getting someone to buy it from your affiliate link.

As I said earlier, I don't know if it is spam or not, but I notice the OP didn't hang round for very long after posting it.

It obviously wasn't a "buy the book from my shop" kind of post, but it was posted to raise awareness of the book.