Quote:
Originally Posted by Phanuthier
I think if you follow any book too literally, you are going to get into trouble. Not all of us can be Warren Buffet, to see the potential of GEICO or Coca-Cola or Washington Post when he did (and you end up buying GM or Citi today); Peter Lynch, and buying a stores stock because he saw a lot of people (and you got pulled into the high-tech craz in the late 90's); likewise, Kiyosaki is good for the "welcome to the idea of investing" crowd, something to think about and an easy read, but horrible when it comes to financial advice.
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^ I agree with this.
The audience for 'Rich Dad, Poor Dad' is not savy investors but rather people who did not get even the most basic introduction to investing as kids at home. I know as someone who comes from a home where investing and money matters were never taught/demonstrated my reading of that book marked a major change/evolution in my thinking.
Because I was a 'beginner' at that time (I must have been like 14?) I didn't really read/retain the little questionable details - i got more of the big picture: "Small decisions add up, and the wealthy get rich over time through good decisions while the poor stay poor over time through bad decisions."
That basic piece of advice/perspective is more valuable than the questionable details are costly IMO.
Claeren.