What do you guys think of Robert T

RumChicken
RumChicken

What do you guys think of Robert T. Kiyosak (Rich Dad) and his line of books?

VisualMaster
VisualMaster

He helped me so much.

BinaryMan
BinaryMan

@RumChicken
"an individual's house is not an asset" - Kiyosaki.
What an idiot

FastChef
FastChef

@BinaryMan
muh asset

Ignoramus
Ignoramus

@VisualMaster
How many of his books have you read

whereismyname
whereismyname

@Ignoramus
5 (that includes one of his advisories)

Raving_Cute
Raving_Cute

@BinaryMan
It's a mentality bro

Lunatick
Lunatick

@whereismyname
Which ones? What do you recommend?

Garbage Can Lid
Garbage Can Lid

@Lunatick
Cash flow quadrant was what I started with and I still consider it the best. Last one was rich dad poor dad and because he repeats so much I felt like I already read it.

Crazy_Nice
Crazy_Nice

@Garbage Can Lid
Cool, he has a ton

Flameblow
Flameblow

Bump

Methshot
Methshot

@VisualMaster
Would you mind explaining this chart?

AwesomeTucker
AwesomeTucker

Basically don't spend your money on expensive useless shit, and instead invest it. What a fucking revolutionary. Someone give this guy a Nobel Prize in Economics.

FastChef
FastChef

@Methshot
You cut out liabillities and expenses, then earn more money by investing.

Personal Finance 101

whereismyname
whereismyname

This is a recurring thread
Sticky when

TurtleCat
TurtleCat

@Methshot
It is much more complicated than most people would realize by looking at it.

I can give you a quick overview, but it won't help you as much as if you figured it out.

If I get a mortgage to buy a house then it is a liability to me and an asset to the bank. The exact opposite. I'll continue later.

CouchChiller
CouchChiller

@AwesomeTucker
That's not what he says though. He's more of a deviant from traditional financial planners

AwesomeTucker
AwesomeTucker

@TurtleCat
Yeah I had some impressions about what it meant but i don't think I could explain it if I had to.
The exact opposite.
Eagerly awaiting your insight

Supergrass
Supergrass

@AwesomeTucker
He means a mortgage is an asset for the bank while a liability for you. Your savings are an asset for you but a liability to the bank.

Sir_Gallonhead
Sir_Gallonhead

@RumChicken
I'm reading one of his book right now.
I'm on page ninety and so far it's basically chicken soup for the mother's soul: economics edition.

Which is to say it doesn't say much other than a bunch of "muh attitude" and "poor people think this, wealthy people think this" without offering any concrete investment stratagems.

likme
likme

@Sir_Gallonhead
It's not supposed to lay out a step by step guide on how to get wealthy though, it's not that easy. Sounds like you think like a poor person :^)

Emberburn
Emberburn

@VisualMaster

Yeah here let me pull some capital out of my ass.

There's nothing wrong with shilling for pleb investment like rental homes, but he forgets you need to earn money to buy the cunting houses in the first place, and to live on in the meantime. And desu buying houses to rent out is shit tier investment for reasons you can think of with five true minutes of thought. High risk and still low reward, all eggs in one basket deal, can get very expensive if something goes wrong.

@FastChef

Fucking real estate agents are massive kikes and we should murder every last one.

Evilember
Evilember

@VisualMaster
fucking retarded pic

Garbage Can Lid
Garbage Can Lid

@BinaryMan
It isn't when you have to pay to maintain it and fix things. That's why many people rent and rent and the company pays for all their shit to be repaired.

Methnerd
Methnerd

@Garbage Can Lid
if you have a home you don't live in you have to rent it out or you lose money but repair and maintenance and taxes on income basically render your "investment" anull especially if you pay mortgage.

Nude_Bikergirl
Nude_Bikergirl

@Emberburn
Fucking real estate agents are massive kikes and we should murder every last one.

Those fees have nothing to do with real estate agents. That's just the cost of buying a home with a mortgage.

farquit
farquit

My economics teacher made everybody in the class read it. I knew it wasn't concrete but it inspired me to learn more about investing and money in general.

RumChicken
RumChicken

@RumChicken
listened to the audio book of rich dad poor dad. Pretty good and quite inspirational but didn't really tell me much I didn't know. The main thing was 'making your money work for you' philosophy but it's of course a lot easier said then done.

Btw, does anyone have any experience with his seminars/workshops - I signed up because it said it was free but they called me back and it was clear it wasn't free so I didn't get involved. seems like a bit of a scam to me t b h

RavySnake
RavySnake

@Evilember
This picture doesn't show the assets creating the income. It shows an outside source, like a job. Financial freedom means your assets give you enough money to cover your expenses. You can achieve this by buying more assets or reducing expenses. Likely a combo of both.

Fuzzy_Logic
Fuzzy_Logic

@RumChicken
idk man, I read one of his books in less than 4 hours. Felt like shit I already knew and have been told before a hundred times.

w8t4u
w8t4u

@RavySnake
are you legit blind?

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