This is the only lesson I really took away from Robert Kiyosaki's "Rich Dad, Poor Dad."
People will say what they will about the man, and his kin, that he's a peddler and just another business man out for himself. I'm sure much of that is true, and personally I can't reconcile the fact that he is personal friends with DJT...
However his strongest point throughout that book is that it is essential that people who want to 'make money' rather than taking it, need to be educated on the subject. He juxtaposes this with his view of the situation present: that people are only educated to become good workers, and to depend on one institution or another for their income.
I am still trying to internalise a lot of the sentiment from that book and my financial self-education will continue (I hope) for many more years.
This book is hot garbage. His analysis of real estate (apperently not an asset) is so bad that I cannot imagine that anyone who read this book made money. Even if the author wasn't shady I'd throw it away
The poor and the middle-class work for money. The rich have money work for them.
It’s not how much money you make that matters. It’s how much money you keep.
Rich people acquire assets. The poor and middle class acquire liabilities that they think are assets.
Financial aptitude is what you do with money once you make it, how you keep people from taking it from you, how to keep it longer, and how you make money work hard for you.
The single most powerful asset we all have is our mind.
“””
Some of the book might be “garbage”, but some of the central concepts most certainly are not, and popularising the above is worthwhile IMHO. Not saying you are wrong, but I do believe it is wrong to so strongly denounce the book without recalling its virtues.
People will say what they will about the man, and his kin, that he's a peddler and just another business man out for himself. I'm sure much of that is true, and personally I can't reconcile the fact that he is personal friends with DJT...
However his strongest point throughout that book is that it is essential that people who want to 'make money' rather than taking it, need to be educated on the subject. He juxtaposes this with his view of the situation present: that people are only educated to become good workers, and to depend on one institution or another for their income.
I am still trying to internalise a lot of the sentiment from that book and my financial self-education will continue (I hope) for many more years.