Without a doubt, Rich Dad Poor Dad has become one of the most controversial personal finance books of modern times. Some people have praised it as the revolutionary how-to guide for creating ultimate riches through passive income. Others despised what they read because Kiyosaki challenged the conventional system for how people make a living and live their lives. When was the last time you were told that going to college and becoming an employee for someone else for the next 30 years is a terrible plan? Or that the only reasons you became an employee in the first place was out of your own fear and greed of money? Or that your house is NOT one of your greatest assets? Rich Dad Poor Dad is NOT a book that will explain to you what a 401k … [Read more...] about Book Review: Rich Dad Poor Dad by Robert Kiyosaki
The stereotype of the salesman... We all know this guy. We don’t trust him. We run the other way. We don’t want to hear his spiel about why this used car is such a great deal or why we need the bigger TV set than we originally came in here to buy. It doesn’t matter what he says because we’re not going to believe it anyways. Yet this guy and you have something in common. Although your motives and methods are different (and you probably dress better), there is something that he is trying to do that you do every day. And if you don’t realize that you do it or try to get better at it, there could be significant financial consequences. … [Read more...] about Embrace That You ARE in Sales
Not too long ago, I wrote a post called “Are We Fools For Saving Our Money?” The inspiration for it came from several themes I read in the book “Unfair Advantage: The Power of Financial Education” by Robert Kiyosaki. Although we explored both sides of Kiyosaki’s opinions, I felt as though there was still quite a bit of the book to review and I wanted to do it justice. So here is my book review. In case you’ve never read anything by Robert Kiyosaki, here’s a brief overview: Take on massive amounts of debt, don’t save your money, and the future of our economy is in deep trouble! Now why in the world would I recommend reading a book like that? Because it reminds me that there is more than one way to become independently wealthy! Robert … [Read more...] about Book Review: “Unfair Advantage” by Robert Kiyosaki
What would be the point of a blog if we didn’t explore an idea that may be slightly controversial? Anyone who reads this blog knows that my quest for financial freedom heavily relies upon disciplined saving and planning for retirement. Like many people, I am using my employer-sponsored retirement plans, IRA’s, and personal savings to build up a fortune that I can one day live off of. All of that is fine and good in theory, but what if everything I just said was ALL WRONG! What if all the money I’m saving will one day be worthless? It sounds crazy, that’s exactly what one famous author is promoting in one of his new books. … [Read more...] about Are We Fools for Saving Our Money?
As part of my annual financial checkup, I have updated my “Money Design” for financial freedom. This is my plan to one day automate my income rather than rely solely on employment income. My plan can be summarized by the flow chart below: … [Read more...] about My “Money Design” – 2012 Update