Quote:
Originally Posted by Claeren
^ 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.
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I write financial columns in a couple of newspapers and I've written this same thing. I wrote a piece once called Millionaire in my Kitchen, a take off of The Millionaire Next Door. I made the point that almost anyone has the capacity to become wealthy by most of our standards. Those who do do so because of good decisions and those who fail financially do so because of not only bad decisions, but continuous bad decisions. By following a few simple principles and doing the right things time after time after time you can build true wealth that will last your lifetime. The millionaire in my kitchen title is a reference to my wife, who will be wealthy by doing these very things. Maybe one day I'll turn my writing into a book and then I can come here and tell everyone about the best financial book ever written.
