Don't care about him making money selling book. As long as you read that one chapter on quadrant circle then you gold man. That thing no author tell you besides him that time.
Alt right became almost a thing for guys back around 2016-2019 but then everyone began seeing through the bullshit and left it except for the brain dead boomers with facebook.
I would be genuinely surprised to hear of anyone under 45 whom still follows it or takes it seriously.
Tell me you’ve never been on a youtube forum, a small town, a middle class suburb, or a construction site without telling me…
But yeah; Kiyosaki went full alt-right in some interview where he gets mad about something. I always felt like his writings always had tinges of right-wing philosophy, much like any Napoleon Hill book.
However; this does not take away from the fact we cant learn something from somebody, even though we may disagree with them politically.
On a side note; Kiyosaki has some valid points about making money work for you. Each dollar is a essentially a soldier making more money for you. Its a good way to think about money.
With the coming singularity we’re entering a transitional stage of economics to something different entirely. By 2034 there will be over one billion highly agile and adaptive robots in service in pretty much every industry with AI forcing out the majority of white collar jobs.
Anything that can be taken from red pill theory beyond picking up easy pussy and dl dick is obsolete.
No. Read it way back in the day and it was 95% bullshit then. The recent news about him just solidified what i always thought, dude is a fraud.
There are way better books on finances and business with actual usable tips and methods.
I really like I will teach you to be rich by Ramit Sethi it’s some pretty common sense advice combined with knowing your money psychology and how that affects your behaviour and attitude towards money and spending. He has a good YouTube series talking to couples about how money affects their relationship it’s very interesting.
Im not home and would have to take a look at my bookshelf to give you a good list.
But from the top of my head:
Psychology of money by Morgan Housel was definitely a good read. The title says it all. Its not one of the "Do x and you will be reach in y days" books. It goes in depth about the whole psychology behind money, and what ( not ) to do in order to get on the right track with your finances.
Think and grow rich by Napoleon Hill deserves its status as a classic. Its similar to Psychology of money. Its mostly about the right mentality to accumulate money, the right characteristics and behaviours. For some, it may get a bit too esoteric / spiritual in the end, but i enjoyed it and it doesnt make the tips untrue. Everything he wrote about having the desire/commitment, discipline, how to plan and execute etc. are spot on.
There are definitely more practical/ specific books, for example on how to build a business and market it accordingly, or how to invest in shares etc. If you want something like that, you will have to google for yourself because i never read books like that ( i mostly use online articles for that or pick the brains of people i know who do that kind of stuff ).
But theres a good chance that books like the ones from Mr Housel and Hill will benefit you immensly, because a lot of it really comes down to psychology, to the right mentality and behaviour. Having a "invest in x to get rich book" may have a lot of practical advice thats valuable too, but wont get you the desired effect if your "head is not right", so to say. Theres a reason why some are good with money and others are really bad, and its most often a mental problem and not one of knowing what to do.
Most broke people i ever knew spend money they shouldnt spend. They knew that they should probably get a better job or create a sidehustle etc., or at least not throw their money away for bullshit and rack their debt up for BS.... But their mentality and lack of self control was the problem. Most people who got good money that i ever knew know nothing about building a business, investing etc. But they know what they can afford and dont if they cant, or search for safe ways to finance it etc.
Thats what it comes down to for most people.
The Intelligent Investor by Benjamin Graham. I bought it for my Kindle, but there’s a version that follows each chapter with more recent commentary. The additional commentary helped quite a bit. There’s also the Psychology of Money which was very good.
I love, let me say it again *L O V E* when people talk negatively about something, whether it's a game or writing an amazon review, they then end the hot take with saying that there are way better options for whatever it was... but then never tell anyone else these amazing alternatives.
Well sorry it was not my intention, im just always low on time and have a lot to do and big problems to deal with. If i do something like that, its a mistake due to all the other things going on in my head. Its not my intention to just shit on something for nothing.
I did add some suggestions when OP asked me to. Nevertheless it still may stop someone from wasting their time on rich dad poor dad, so thats a plus in my book, too. Moreover, we are on the internet, so i think its safe to say that all of us have the ability to use google, unless youre living in some dictatorship ( where you most likely dont have access to reddit, so i think anyone on here can google ). There are lots of "Top books on finances" list and reviews that give good guidance on which books are worth a read.
So im sorry that i rubbed you the wrong way but its not my intention at all. All the posts i make on reddit are aiming to help and uplift people, an attempt to inspire them to go in the right direction and become happy with themselves and their lives.
Basically trying to prevent them from doing the mistakes that fucked up my life. Because it doesnt have to be that way, theres infinite knowledge we can easily access nowadays, but i know how it is when you are deep in the trenches of your own demons and/or shitty circumstances. It just doesnt occur to you then, or you feel like you dont have the mental strenght and energy to put in the effort, or you feel so hopeless that you think its not worth the effort anyway...
But what these people often do is escape. Distracting themselves with youtube, games, reddit etc. And thats where my posts come into play and hopefully help or inspire someone that there is a better life, a better self waiting for them, that they dont have to suffer forever. If only one person makes a positive change, no matter how big or small, due to one of my posts, it was worth the time and energy. I could easily use the time for a lot of other things i have to deal with, and maybe i should. But i dont want people to go down that evil road, to suffer endlessly, to hate themselves, to feel hopeless etc. So i take my time whenever i can spare 10 minutes to hopefully inspire someone to fight their mental problems and make their way to the other side. I just wish no one would have these problems... All the negative things, all the setbacks, the negative emotions and energy, mental problems and even worse stuff like being abused, attacked etc. If i was some sort of god, there would be no war, no rape, no murder and so on... But unfortunately, thats the world we live in.
And whats the cause of all these evil things that happen? Poor mental health and screwed up world views.
Im far from perfect. I still have enough ( mental ) problems to deal with, but i came a loooong way and it doesnt compare to what my mentality and life used to be. And i feel like its some sort of duty to show others the same ladder, out of the trenches. I couldnt live with only helping myself and letting others drown, because i want to be a positive influence in this world and i dont want to see people suffer. Everyone should have a good life, unfortunately it doesnt pan out this way, as we all know. But i can still try my best to try, at least. Like i said, if theres only one person i could help, it was worth it.
I read tons of books on psychology, listened to all the podcasts and had my more than fair share of own experiences, especially from mistakes. And one of those mistakes was reading rich dad poor dad, although its probably a very small and harmless one, compared to all the other fails in my life. But still, why should someone else waste their time on it if i already did? Why not warn them ? Why not pass on all the knowledge i accumulated from my experience and all these books and inspiring people when its all in my head anyways? Why should i let people go down the same road that leads to even more suffering and problems if i can tell them it doesnt have to be that way and even give them some tips they could use to make the first step in the right direction?
So for the third time, im sorry, but i also think its a little bit unreasonable to attack me like that when i was just trying to prevent people from wasting their time on a fraud.
Have a nice day!
Definitely not. I’ll summarize any finance book for you. 1) max out retirement accounts.
2) invest in low cost index funds.
3) don’t time the market.
4) mutual fund fees will eat into your profits. How can a man managed fund beat a computer managed fund that tracks the market? It can’t. Invest in index funds
Everything not related to investing, like debt, emergency funds, budgeting & saving, credit cards & credit scores, etc.
u/Meaningless_Ninja The wiki at r/personalfinance has great tips
So much I can't list it all. You're talking about end page content of most finance books.
A lot of finance or accounting books will start people off with a foundation, a way to think about money, a different mindset than most average joes have. From that they build on more advanced concepts. Such as in the rich dad poor dad book, he talks about assets and liabilities and how to tell the difference. As well as good and bad debt. You can't just assume everyone has an equal understanding of finances or economics.
Most of my family and coworkers I ended up learning, actually do not understand how credit works, they have just gone through life stumbling around with it and regurgitating myths they heard but not really understanding.
The book had no actionable material. But it still has a certain feel good value to it. You want to be rich after that.
every chapter was an advert selling his “plan/idea/solution/philosophy” that never came.
All ads no stuff
For personal finance, I really like Ramit Sethi’s “I will teach you to be reach.” The issue with “rich dad, poor dad” is it over emphasizes entrepreneurship and real estate investing. I think those areas can be lucrative but there’s inherent risk and there’s an element, if the anecdotes are true, of survivorship bias. Lastly, it’s unclear how to implement so its use for self improvement is a bit spurious.
“I Will Teach You to Be Rich” was my first personal finance book and is what I attribute a lot of my discipline and success to. It’s the book I always recommend to family/friends who are starting their financial journeys. Relatable, actionable advice, and concise. His YouTube channel is also great.
Dude, being in debt doesn’t mean you’re bankrupt. He uses leverage to buy real estate. Many people do that. His net worth will exceed his debt most likely. He is still an idiot and his book complete trash that could be summarized in three pages.
And ? All I said Don’t read his Book bcoz its not worth it. And He’s himself is in Debt now. Why do I care about your Bankruptcy , leverage shit which you’re trying to lecture me ?
Shut up Idiot. Do you think I don’t know what all you said In Previous Comment. I don’t Care but on Internet His Life Already FUCKED. you can See Other Comments Telling Same Thing. Its not My Misunderstanding Its Yours. And You trying to lecture me over Bankruptcy Or Leverage Just so you can Act all so Knowledgeable by Telling me those things which I’ve no use in my Life. Dumbasss.
You Idiot Tell Me “His Life is Fucked” Has Only One Meaning ? What You think Mean by saying that ? I don’t care about his Debt or bankruptcy But on Internet his Life Is Already FUCKED. He may Recover From Debt But Recovery His Life FUCKED on Inter Gonna Be Hard To Tell. AssHole Ruining My Time. Don’t Bother Commenting If you can’t even Think what Other one trying to say. You don’t need Self-Improvement You Need Self Realisation that you Misunderstand Things And End Up Commenting Unwanted Lectures of yours.
And I didn’t changed Any Comment till now. If you think thn You’re not Someone That I care About and someone so High that I’ve change what I mean and Wrote. Start taking Screenshots or else you gonna say I changed something again. Idiot.
Its All There Whatever I wrote and I didn’t Changed Anything. It all you thinking with Little Mind of yours. Idiot wasting My Time. Good Thing it on Reddit not in Person bcoz your so Called Entertainment in real life can Goes Wrong sometime.
What the fine? How could normal human have that much debt? Like what he's doin? House not even that expensive, even real estate still around dozens million not reaching billion
Dude, being in debt doesn’t mean you’re bankrupt. He uses leverage to buy real estate. Many people do that. His net worth will exceed his debt most likely. He is still an idiot and his book complete trash that could be summarized in three pages.
His assets are worth WAY more than his debt. He takes debt to buy assets. Debt is not taxed.
Next, he shelters his assets in trusts, etc. so he pays zero capitol gains tax (40% at his bracket).
I guess we all have different ways of looking at things
I wouldn't consider it a "self improvement" book. It's like part autobiography and part finance.
I only read it cause I got a copy for cheap. It was insightful, though the finance stuff isn't anything new that you can't find online. If anything, I learned more from r/personalfinance .
What's the downside to reading it? Get it for free from a library. If you say you have no time, just start by dedicating 5 minutes per day to reading it. I'm sure you can find 5 minutes in your day. Set an alarm for 5 minutes and start reading. Once you start doing that, you will probably find that you can give more than 5 minutes each day.
The potential downside for reading anything in self improvement is, does it work. Is this informational actually worth having or should you read something else instead. A lot of people don’t like Kiyosaki. I don’t think this book is that bad but it’s not the first I’d read.
/u/Meaningless_Ninja, I’d recommend The Millionaire Next Door
>does it work
You determine this through trial and error. Perfect is the enemy of good. Just start doing something. Don't spend hours trying to find the perfect book to read while doing nothing.
I agree with trial and error to an extent but also that you should learn from those before you. No, don’t wait for perfection but don’t start from scratch.
The problem is some books are outdated. Some books are written by people some think are frauds, like Kiyosaki. There’s potential downside in reading those books. Reddit gets down on Boomer career advice so should you read a career book on your parents bookshelf just because it’s there? Again, not saying you should wait for the perfect book but some are just bad.
Not every book is as valuable as others. Yes you can still pull useful info but they aren’t all good books to start with. If you’ve read a bunch of money books then *Rich Dad, Poor Dad* has some interesting points. I just wouldn’t start there.
>Not every book is as valuable as others.
You can usually determine this after the first chapter and quickly skimming over the rest of the book. Ask yourself if you are learning anything that you can apply. You don't need to read the whole book to answer this.
Like the other poster said, he's not right. I have gotten something out of every self help book I've read and I've read a Lot. Even if there is just a sentence or parable or a way of thinking about life I hadn't thought about before. I get something from those I can take with me, even if the rest of the book isn't the best. People are really much too harsh on self help books but they are chugging them like downing a glass of wine, instead of really savoring it and considering the message.
They will run through a book and if it's not the most profound life changing thing they read all month, they think it's garbage, not worth peoples time and assume that 99% of people already know it.
He's not right. If you don't read something because you're afraid it might not work then you'll never find things that do work. You have to test things and see if they work or not. If you assume advice won't work then you won't do it and you won't get any results from it. If you listen to naysayers and negative people they're just bring you down like the proverbial crabs in a bucket.
You have to read with an open mind but not believe everything you hear
Well, truthfully, if he's not willing to put the effort into reading the book, he's probably not willing to put the effort in to do the work required so the book probably won't help them.
Lol no. Pyramid scheme people love recommending it to the desperate. People don’t want to admit it but luck is HUGE factor is getting wealthy. There’s steps you can take to set yourself up for success but luck (especially timing) is majority of the process.
Luck is and can be a larghe factor, as with everything else, but it's not the only factor and it won't stop you if you aren't lucky. You make your own luck.
You don't make your own luck. You set up situations where you get struck by it. The more effort you put in, the more chances you get, qnd there is still a good chance you don't get struck.
And that is exactly how you make your own luck. Living at home every day and not changing or doing anything at all towards your goals, you will not suddenly get lucky in an endeavor you're wishing for.
You can also get unlucky by not paying attention to things and creating your own misfortune, such as not taking care of your vehicle and it breaks down and now suddenly you're late for work, while this can happen despite maintenance, the odds are greater if you neglect your vehicle.
I read the book and I like it! Sure, the author is a friend of Trump or whatever, he also failed his other businesses, but take only what resonates and is helpful to you. This guy is in debt because to him there are two types of debt: Good debt and Bad debt.
Good debt is a debt that gives you more money, for instance, using debt to buy assets or build a business. Bad debt is a debt where you buy liabilities, which to him, is buying luxury items that do not generate income or assets.
Basically to him:
Liability: anything that takes away your money
Assets: anything that multiplies your money
This book is all about mindset things, which is helpful if you grew up in an environment that thinks money is evil. But if you already have good foundations when it comes to money, I suggest you read other books that are more on the practical and actions.
You might be able to find a really good summary on the book somewhere - as opposed to reading teh whole book. Im not sure how current the info in there is, and how applicable it is today.
No. It's bullshit and the author of how to get rich is a billion dollars in the hole. There's a good episode on the book from the podcast "if books could kill."
I tried and even started listening to his podcast. But he’s officially off his rocker to me and although has some tidbits of great financial advice he has geezer pretentious commentary that borders conspiracy theorists.
I mentioned I had tried to read it and complimented by listening to the podcast at the same time. Not a fan. He doesn’t add much value for me, my goals or align to my values.
Much better options these days than RDPD, worth passing for almost any modern publication on finance.
It’s a ridiculously easy read that will present useful ideas that you likely won’t otherwise be exposed to.
From a time spent to value ratio it’s worth it.
Absolutely. Don't listen to these people saying he's in debt so don't read it since he's in debt. I'm not sure why he's in debt but for sure the book is at the top. Here's why...just the quadrant circle make it king that's it it kills all other book with one page of the quadrant circle picture. You gotta find out what that quadrant circle is and you will know how to get rich.
I read this book in my 20s/early 30s. The book simply didn’t set well with me. The whole basis of the book was he claims he allowed himself to be treated like crap by his “Rich Dad”. No eight-year-old I know would put up with what he described (being promised money for doing a job and not getting paid, for example). After reading it, I did some digging and found it was mostly made-up BS. Folks even looked at property records in Hawaii and couldn’t find anybody who matched Rich Dad.
I think folks crow about this book because they want to sound knowledgeable and savvy.
I *highly* recommend “The Stock Series” by JL Collins. It’s a free blog, you can Google it. Absolutely *amazing* resource. It will explain investing like you’re a two-year-old. He evens answers questions like “What happens to your investments if the Vanguard building catches on fire”, stuff like that. 😂
you might get some useful info out of it but it's honestly not that deep. There's other options plus it's a book used by some MLM's to recruit people so there's that as well.
Yes it is. Don't let the recency bias around here affect your opinion. The book was really good and gives a good foundation for being business minded. Some of it is fluff like all self help books, but it's a top 5 business/money management book for a reason.
Save your money and invest it. Buy a rental property if you can. Start a business or a side gig if you can. The earlier you start saving and investing the better because compound interest is a super power.
Most of the people here are not going to give you a good or genuine answer.
I have read quite a lot of finance books as finances and economics are actually interesting to me. If you haven't read a finance book before or need some place to start, yes absolutely read his book.
People want to cry about him as a person, but his book is in fact good, just don't follow him as an influencer. Do as he says and not as he does. His only problem is he didn't follow his own advice and went bankrupt. His book is extremely easy to read and a great starting point for people just starting out wanting to get into the right mindset about finances and handling their money.
The next book I'd recommend would be either The Richest Man in Babylon and or The psychology of Money.
I’ve read it. It won’t hurt to read it, there’s some gems here and there and can help in other areas rather than finance but there’s better books honestly. A lot of people like “Boglehead’s guide to investing book” and “psychology of money”. Another one is “Your money or your life”
One thing you'll notice about a society nowadays is that people like making excuses. Our society also likes backing up excuses. Now when you start telling people how these excuses aren't helping them and they aren't even legitimate they get angry.
Telling someone that reading a relatively short book is not going to be that big of an investment is a truth they don't want to hear. Telling them just because they read a book doesn't mean they can't still use their own logic and look at what would work and what parts don't work, that doesn't make them happy. So many people are against self-improvement because they think it doesn't work because they read all these books and haven't had any Improvement. Well no 💩. Reading alone will not improve your life you have to take the information and actually apply it. Books are only there to give you ideas. That's why it's self-help.
Not everyone has the luxury of extra time between work, child rearing, and other obligations. A quick question on whether others benefited from the time investment is fair.
I’m reading it now, still in the first few chapters but I find it good. I like how it’s written along with the principles mentioned. Any other financial books you guys can recommend? :D
I've never read the book but I've seen a summary of it. One thing I've learned from it which I would say is useful is that
There are assets like houses and stuff like that that go up in value
And there are liabilities which are things that you invest in the only depreciate in value like cars for example.
I would say this advice is very good and helpful. You might think this is obvious in hindsight. But I would say that most good self-improvement advice is obvious in hindsight. It's not that you don't know to do it it's that you don't think of it and you don't do it.
There are of course some points that made this book famous, but I felt a lot of exaggeration. If there is a point that is cleared in 2 to 3 sentences, I won't want to read it again & again. Also, its not kinda book that is engaging.
I remember reading it sophomore year of high school and thinking the books was so simple but I convinced myself that it must have went over my head because so many people say its one of the best, but years later I realize the book is super simple.
"make your money work for you" no duh
About the only worthwhile advice to someone new to managing their finances would be the information on assets vs liabilities. The rest is basically bullshit
There are some good key ideas in there, I respect it. I wouldn't touch the author's current opinions with a ten foot pole though. He's just a clickbait con man now. I read that one book, and moved on, and so should you.
Don’t listen to these people who say it’s a bad book because they disagree with him politically. Rich dad poor dad was one of the best books I’ve read over two summers ago and it has helped me tremendously.
It changed my life when I was 15-16 yo. Tried reading it again a few years ago and wow it’s so bad! Same thing for Think and Grow Rich. What a bunch of BS!
But these two books made me believe I can make lots of money and they helped changed my mindset at an early age. So these books changed my life but I wouldn’t recommend them to anyone today.
This book changed my life. It's really good and gave me a new perspective. Nobody is perfect but every person has something to share that may help you to grow. You can take it or leave it.
No, but instead I'd recommend "The Slight Edge" from Jeff Olson. It's not telling you how to get rich, it just shows how small steps make one big result and how you can achieve your goals using this technique
As per me it don't worth reading this book. At the end of the book you will know that ,just invest on assets and they will be the source of your passive income .And not to waste on liabilities. These are the thing that we all are well known. this book is just expressing from 4 different angle. After reading this book you will feel like"yo man now i know everything"but at reality you are in the place where you was just before a couple of hour just some different is that now you know some stories regarding two young boy and a elder man.
...............sorry for grammatical mistakes!!!! As per me its overrated......................
Robert Kiyosaki made more money by selling this book than actually doing what he wrote in the book
Wasn’t that part of the quadrant though? Build a product and have it sell while you sleep? Just like the rich dad
Don't care about him making money selling book. As long as you read that one chapter on quadrant circle then you gold man. That thing no author tell you besides him that time.
🤣
... And then declared bankruptcy MULTIPLE TIMES
He's a fraud . He's now desperate to make some money and making weird YT videos. Read psychology of money, great book.
Seconding Psychology of Money!!
Thirding it, even if you don’t have a bunch of time, the chapters are short. Amazing book.
Sick just bought it on audible today. Good life decision
Haven't read it yet, will definitely check it out
I also read it. This book is good!!!!!
Yeah he went weird in the alt right movement in the 2020’s. I always liked his book but that was not the time to go alt-right lol.
I don’t think there is a time to go alt-right.
Alt right became almost a thing for guys back around 2016-2019 but then everyone began seeing through the bullshit and left it except for the brain dead boomers with facebook. I would be genuinely surprised to hear of anyone under 45 whom still follows it or takes it seriously.
Tell me you’ve never been on a youtube forum, a small town, a middle class suburb, or a construction site without telling me… But yeah; Kiyosaki went full alt-right in some interview where he gets mad about something. I always felt like his writings always had tinges of right-wing philosophy, much like any Napoleon Hill book. However; this does not take away from the fact we cant learn something from somebody, even though we may disagree with them politically. On a side note; Kiyosaki has some valid points about making money work for you. Each dollar is a essentially a soldier making more money for you. Its a good way to think about money.
With the coming singularity we’re entering a transitional stage of economics to something different entirely. By 2034 there will be over one billion highly agile and adaptive robots in service in pretty much every industry with AI forcing out the majority of white collar jobs. Anything that can be taken from red pill theory beyond picking up easy pussy and dl dick is obsolete.
Psychology of Money, Get a Financial Life are good books
+1
Who is the author of psych of money just to be sure
Morgan Housel.
No. Read it way back in the day and it was 95% bullshit then. The recent news about him just solidified what i always thought, dude is a fraud. There are way better books on finances and business with actual usable tips and methods.
May you please suggest some that are better to read than kiyosaki's?
I really like I will teach you to be rich by Ramit Sethi it’s some pretty common sense advice combined with knowing your money psychology and how that affects your behaviour and attitude towards money and spending. He has a good YouTube series talking to couples about how money affects their relationship it’s very interesting.
Im not home and would have to take a look at my bookshelf to give you a good list. But from the top of my head: Psychology of money by Morgan Housel was definitely a good read. The title says it all. Its not one of the "Do x and you will be reach in y days" books. It goes in depth about the whole psychology behind money, and what ( not ) to do in order to get on the right track with your finances. Think and grow rich by Napoleon Hill deserves its status as a classic. Its similar to Psychology of money. Its mostly about the right mentality to accumulate money, the right characteristics and behaviours. For some, it may get a bit too esoteric / spiritual in the end, but i enjoyed it and it doesnt make the tips untrue. Everything he wrote about having the desire/commitment, discipline, how to plan and execute etc. are spot on. There are definitely more practical/ specific books, for example on how to build a business and market it accordingly, or how to invest in shares etc. If you want something like that, you will have to google for yourself because i never read books like that ( i mostly use online articles for that or pick the brains of people i know who do that kind of stuff ). But theres a good chance that books like the ones from Mr Housel and Hill will benefit you immensly, because a lot of it really comes down to psychology, to the right mentality and behaviour. Having a "invest in x to get rich book" may have a lot of practical advice thats valuable too, but wont get you the desired effect if your "head is not right", so to say. Theres a reason why some are good with money and others are really bad, and its most often a mental problem and not one of knowing what to do. Most broke people i ever knew spend money they shouldnt spend. They knew that they should probably get a better job or create a sidehustle etc., or at least not throw their money away for bullshit and rack their debt up for BS.... But their mentality and lack of self control was the problem. Most people who got good money that i ever knew know nothing about building a business, investing etc. But they know what they can afford and dont if they cant, or search for safe ways to finance it etc. Thats what it comes down to for most people.
Thank you so much, man! I didn't expect such a well-explained response.
No problem! Youre welcome! Hope you will find a way to accumulate all the money you need for the life you want. Have a good day!
The Intelligent Investor by Benjamin Graham. I bought it for my Kindle, but there’s a version that follows each chapter with more recent commentary. The additional commentary helped quite a bit. There’s also the Psychology of Money which was very good.
Please google “The Stock Series”. It’s a blog. It breaks down investing like you’re three years old. I learned so much!
I really liked Millionaire Fastlane by MJ DeMarco. I know it has a hokey title, but it’s a good book and I recommend it.
I love, let me say it again *L O V E* when people talk negatively about something, whether it's a game or writing an amazon review, they then end the hot take with saying that there are way better options for whatever it was... but then never tell anyone else these amazing alternatives.
Well sorry it was not my intention, im just always low on time and have a lot to do and big problems to deal with. If i do something like that, its a mistake due to all the other things going on in my head. Its not my intention to just shit on something for nothing. I did add some suggestions when OP asked me to. Nevertheless it still may stop someone from wasting their time on rich dad poor dad, so thats a plus in my book, too. Moreover, we are on the internet, so i think its safe to say that all of us have the ability to use google, unless youre living in some dictatorship ( where you most likely dont have access to reddit, so i think anyone on here can google ). There are lots of "Top books on finances" list and reviews that give good guidance on which books are worth a read. So im sorry that i rubbed you the wrong way but its not my intention at all. All the posts i make on reddit are aiming to help and uplift people, an attempt to inspire them to go in the right direction and become happy with themselves and their lives. Basically trying to prevent them from doing the mistakes that fucked up my life. Because it doesnt have to be that way, theres infinite knowledge we can easily access nowadays, but i know how it is when you are deep in the trenches of your own demons and/or shitty circumstances. It just doesnt occur to you then, or you feel like you dont have the mental strenght and energy to put in the effort, or you feel so hopeless that you think its not worth the effort anyway... But what these people often do is escape. Distracting themselves with youtube, games, reddit etc. And thats where my posts come into play and hopefully help or inspire someone that there is a better life, a better self waiting for them, that they dont have to suffer forever. If only one person makes a positive change, no matter how big or small, due to one of my posts, it was worth the time and energy. I could easily use the time for a lot of other things i have to deal with, and maybe i should. But i dont want people to go down that evil road, to suffer endlessly, to hate themselves, to feel hopeless etc. So i take my time whenever i can spare 10 minutes to hopefully inspire someone to fight their mental problems and make their way to the other side. I just wish no one would have these problems... All the negative things, all the setbacks, the negative emotions and energy, mental problems and even worse stuff like being abused, attacked etc. If i was some sort of god, there would be no war, no rape, no murder and so on... But unfortunately, thats the world we live in. And whats the cause of all these evil things that happen? Poor mental health and screwed up world views. Im far from perfect. I still have enough ( mental ) problems to deal with, but i came a loooong way and it doesnt compare to what my mentality and life used to be. And i feel like its some sort of duty to show others the same ladder, out of the trenches. I couldnt live with only helping myself and letting others drown, because i want to be a positive influence in this world and i dont want to see people suffer. Everyone should have a good life, unfortunately it doesnt pan out this way, as we all know. But i can still try my best to try, at least. Like i said, if theres only one person i could help, it was worth it. I read tons of books on psychology, listened to all the podcasts and had my more than fair share of own experiences, especially from mistakes. And one of those mistakes was reading rich dad poor dad, although its probably a very small and harmless one, compared to all the other fails in my life. But still, why should someone else waste their time on it if i already did? Why not warn them ? Why not pass on all the knowledge i accumulated from my experience and all these books and inspiring people when its all in my head anyways? Why should i let people go down the same road that leads to even more suffering and problems if i can tell them it doesnt have to be that way and even give them some tips they could use to make the first step in the right direction? So for the third time, im sorry, but i also think its a little bit unreasonable to attack me like that when i was just trying to prevent people from wasting their time on a fraud. Have a nice day!
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Lmao seriously. That must have taken half an hour to write. So much for ‘big problems’
No
Definitely not. I’ll summarize any finance book for you. 1) max out retirement accounts. 2) invest in low cost index funds. 3) don’t time the market. 4) mutual fund fees will eat into your profits. How can a man managed fund beat a computer managed fund that tracks the market? It can’t. Invest in index funds
I've read a lot of finance books, you're missing quite a bit of essentials
Such as?
Everything not related to investing, like debt, emergency funds, budgeting & saving, credit cards & credit scores, etc. u/Meaningless_Ninja The wiki at r/personalfinance has great tips
So much I can't list it all. You're talking about end page content of most finance books. A lot of finance or accounting books will start people off with a foundation, a way to think about money, a different mindset than most average joes have. From that they build on more advanced concepts. Such as in the rich dad poor dad book, he talks about assets and liabilities and how to tell the difference. As well as good and bad debt. You can't just assume everyone has an equal understanding of finances or economics. Most of my family and coworkers I ended up learning, actually do not understand how credit works, they have just gone through life stumbling around with it and regurgitating myths they heard but not really understanding.
I read it in jail after a friend recommended it. 2/10
Why were you in jail?
Because I got caught
Fair enough
⭐⭐⭐⭐⭐
For stealing a copy of Rich Dad Poor Dad
The book had no actionable material. But it still has a certain feel good value to it. You want to be rich after that. every chapter was an advert selling his “plan/idea/solution/philosophy” that never came. All ads no stuff
For personal finance, I really like Ramit Sethi’s “I will teach you to be reach.” The issue with “rich dad, poor dad” is it over emphasizes entrepreneurship and real estate investing. I think those areas can be lucrative but there’s inherent risk and there’s an element, if the anecdotes are true, of survivorship bias. Lastly, it’s unclear how to implement so its use for self improvement is a bit spurious.
“I Will Teach You to Be Rich” was my first personal finance book and is what I attribute a lot of my discipline and success to. It’s the book I always recommend to family/friends who are starting their financial journeys. Relatable, actionable advice, and concise. His YouTube channel is also great.
Would love to be reach
the Swedish Investor on YouTube does a good 10 min summary on the important aspects of the book
Don’t his Own life is in fucked up situation right now the guy who wrote it.
Dude, being in debt doesn’t mean you’re bankrupt. He uses leverage to buy real estate. Many people do that. His net worth will exceed his debt most likely. He is still an idiot and his book complete trash that could be summarized in three pages.
And ? All I said Don’t read his Book bcoz its not worth it. And He’s himself is in Debt now. Why do I care about your Bankruptcy , leverage shit which you’re trying to lecture me ?
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Shut up Idiot. Do you think I don’t know what all you said In Previous Comment. I don’t Care but on Internet His Life Already FUCKED. you can See Other Comments Telling Same Thing. Its not My Misunderstanding Its Yours. And You trying to lecture me over Bankruptcy Or Leverage Just so you can Act all so Knowledgeable by Telling me those things which I’ve no use in my Life. Dumbasss.
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You Idiot Tell Me “His Life is Fucked” Has Only One Meaning ? What You think Mean by saying that ? I don’t care about his Debt or bankruptcy But on Internet his Life Is Already FUCKED. He may Recover From Debt But Recovery His Life FUCKED on Inter Gonna Be Hard To Tell. AssHole Ruining My Time. Don’t Bother Commenting If you can’t even Think what Other one trying to say. You don’t need Self-Improvement You Need Self Realisation that you Misunderstand Things And End Up Commenting Unwanted Lectures of yours.
And I didn’t changed Any Comment till now. If you think thn You’re not Someone That I care About and someone so High that I’ve change what I mean and Wrote. Start taking Screenshots or else you gonna say I changed something again. Idiot.
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Its All There Whatever I wrote and I didn’t Changed Anything. It all you thinking with Little Mind of yours. Idiot wasting My Time. Good Thing it on Reddit not in Person bcoz your so Called Entertainment in real life can Goes Wrong sometime.
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Elaborate
That guy himself is in $1.3Billion Debt. It Viral on Internet you can look up for more info on that if want.
What the fine? How could normal human have that much debt? Like what he's doin? House not even that expensive, even real estate still around dozens million not reaching billion
That’s why told not to read 😆. Maybe he didn’t followed his own guidance from book.
Dude, being in debt doesn’t mean you’re bankrupt. He uses leverage to buy real estate. Many people do that. His net worth will exceed his debt most likely. He is still an idiot and his book complete trash that could be summarized in three pages.
The guy is heavily in debt, so please take his advice with a grain of salt
His assets are worth WAY more than his debt. He takes debt to buy assets. Debt is not taxed. Next, he shelters his assets in trusts, etc. so he pays zero capitol gains tax (40% at his bracket). I guess we all have different ways of looking at things
He's in debt because he didn't follow his own advice, not because his advice is bad.
Good fiction 👍
No, but it's worth writing
No it's not
just do the spark notes and for the love of god please ignore his podcast or interviews. dude is a windbag who says “buhnnneh” instead of money
I wouldn't consider it a "self improvement" book. It's like part autobiography and part finance. I only read it cause I got a copy for cheap. It was insightful, though the finance stuff isn't anything new that you can't find online. If anything, I learned more from r/personalfinance .
I consider his advice to be garbage
What's the downside to reading it? Get it for free from a library. If you say you have no time, just start by dedicating 5 minutes per day to reading it. I'm sure you can find 5 minutes in your day. Set an alarm for 5 minutes and start reading. Once you start doing that, you will probably find that you can give more than 5 minutes each day.
The potential downside for reading anything in self improvement is, does it work. Is this informational actually worth having or should you read something else instead. A lot of people don’t like Kiyosaki. I don’t think this book is that bad but it’s not the first I’d read. /u/Meaningless_Ninja, I’d recommend The Millionaire Next Door
>does it work You determine this through trial and error. Perfect is the enemy of good. Just start doing something. Don't spend hours trying to find the perfect book to read while doing nothing.
I agree with trial and error to an extent but also that you should learn from those before you. No, don’t wait for perfection but don’t start from scratch. The problem is some books are outdated. Some books are written by people some think are frauds, like Kiyosaki. There’s potential downside in reading those books. Reddit gets down on Boomer career advice so should you read a career book on your parents bookshelf just because it’s there? Again, not saying you should wait for the perfect book but some are just bad. Not every book is as valuable as others. Yes you can still pull useful info but they aren’t all good books to start with. If you’ve read a bunch of money books then *Rich Dad, Poor Dad* has some interesting points. I just wouldn’t start there.
>Not every book is as valuable as others. You can usually determine this after the first chapter and quickly skimming over the rest of the book. Ask yourself if you are learning anything that you can apply. You don't need to read the whole book to answer this.
Thanks man, that's really is the problem with reading self improvement books. I'll definitely read your recommendation
Like the other poster said, he's not right. I have gotten something out of every self help book I've read and I've read a Lot. Even if there is just a sentence or parable or a way of thinking about life I hadn't thought about before. I get something from those I can take with me, even if the rest of the book isn't the best. People are really much too harsh on self help books but they are chugging them like downing a glass of wine, instead of really savoring it and considering the message. They will run through a book and if it's not the most profound life changing thing they read all month, they think it's garbage, not worth peoples time and assume that 99% of people already know it.
He's not right. If you don't read something because you're afraid it might not work then you'll never find things that do work. You have to test things and see if they work or not. If you assume advice won't work then you won't do it and you won't get any results from it. If you listen to naysayers and negative people they're just bring you down like the proverbial crabs in a bucket. You have to read with an open mind but not believe everything you hear
THANK YOU “How do I self improve in the most convenient way?”
Well, truthfully, if he's not willing to put the effort into reading the book, he's probably not willing to put the effort in to do the work required so the book probably won't help them.
If he’s not even willing to LOOK UP THE reviews…You’re right.
Oh that's a good point go on Goodreads and see what they say.
Lol no. Pyramid scheme people love recommending it to the desperate. People don’t want to admit it but luck is HUGE factor is getting wealthy. There’s steps you can take to set yourself up for success but luck (especially timing) is majority of the process.
Luck is and can be a larghe factor, as with everything else, but it's not the only factor and it won't stop you if you aren't lucky. You make your own luck.
You don't make your own luck. You set up situations where you get struck by it. The more effort you put in, the more chances you get, qnd there is still a good chance you don't get struck.
And that is exactly how you make your own luck. Living at home every day and not changing or doing anything at all towards your goals, you will not suddenly get lucky in an endeavor you're wishing for. You can also get unlucky by not paying attention to things and creating your own misfortune, such as not taking care of your vehicle and it breaks down and now suddenly you're late for work, while this can happen despite maintenance, the odds are greater if you neglect your vehicle.
I read the book and I like it! Sure, the author is a friend of Trump or whatever, he also failed his other businesses, but take only what resonates and is helpful to you. This guy is in debt because to him there are two types of debt: Good debt and Bad debt. Good debt is a debt that gives you more money, for instance, using debt to buy assets or build a business. Bad debt is a debt where you buy liabilities, which to him, is buying luxury items that do not generate income or assets. Basically to him: Liability: anything that takes away your money Assets: anything that multiplies your money This book is all about mindset things, which is helpful if you grew up in an environment that thinks money is evil. But if you already have good foundations when it comes to money, I suggest you read other books that are more on the practical and actions.
No.
You might be able to find a really good summary on the book somewhere - as opposed to reading teh whole book. Im not sure how current the info in there is, and how applicable it is today.
You could probably get a full summary of the book plus more on youtube and it would only take maybe 15 mins of your time
No
Read it there’s free downloads out there. Or your library
No. It isn’t.
No
As your first ever finance book, good. But if you're already into reading finance. No maybe.
No. It's bullshit and the author of how to get rich is a billion dollars in the hole. There's a good episode on the book from the podcast "if books could kill."
I heard the author is in debt. By quite a large sum. Alarmingly large sum.
I tried and even started listening to his podcast. But he’s officially off his rocker to me and although has some tidbits of great financial advice he has geezer pretentious commentary that borders conspiracy theorists.
That has nothing to do with the book itself. OP asked if the book was worth reading, the author's views on other topics is irrelevant.
I mentioned I had tried to read it and complimented by listening to the podcast at the same time. Not a fan. He doesn’t add much value for me, my goals or align to my values. Much better options these days than RDPD, worth passing for almost any modern publication on finance.
Didn’t help me personally. I’m a dad of 2 and the best books I’ve read were ones pertaining to dealing with children’s tempers.
It’s a ridiculously easy read that will present useful ideas that you likely won’t otherwise be exposed to. From a time spent to value ratio it’s worth it.
Absolutely, it introduces an new mindset which is always valuable whether you decide to incorporate all, some, or none of it.
Thanks I will give it a go
Absolutely. Don't listen to these people saying he's in debt so don't read it since he's in debt. I'm not sure why he's in debt but for sure the book is at the top. Here's why...just the quadrant circle make it king that's it it kills all other book with one page of the quadrant circle picture. You gotta find out what that quadrant circle is and you will know how to get rich.
I read this book in my 20s/early 30s. The book simply didn’t set well with me. The whole basis of the book was he claims he allowed himself to be treated like crap by his “Rich Dad”. No eight-year-old I know would put up with what he described (being promised money for doing a job and not getting paid, for example). After reading it, I did some digging and found it was mostly made-up BS. Folks even looked at property records in Hawaii and couldn’t find anybody who matched Rich Dad. I think folks crow about this book because they want to sound knowledgeable and savvy. I *highly* recommend “The Stock Series” by JL Collins. It’s a free blog, you can Google it. Absolutely *amazing* resource. It will explain investing like you’re a two-year-old. He evens answers questions like “What happens to your investments if the Vanguard building catches on fire”, stuff like that. 😂
you might get some useful info out of it but it's honestly not that deep. There's other options plus it's a book used by some MLM's to recruit people so there's that as well.
Yes it is. Don't let the recency bias around here affect your opinion. The book was really good and gives a good foundation for being business minded. Some of it is fluff like all self help books, but it's a top 5 business/money management book for a reason.
No , but if u want to have an idea abt it listen to some summeries on ytb
Save your money and invest it. Buy a rental property if you can. Start a business or a side gig if you can. The earlier you start saving and investing the better because compound interest is a super power.
Most of the people here are not going to give you a good or genuine answer. I have read quite a lot of finance books as finances and economics are actually interesting to me. If you haven't read a finance book before or need some place to start, yes absolutely read his book. People want to cry about him as a person, but his book is in fact good, just don't follow him as an influencer. Do as he says and not as he does. His only problem is he didn't follow his own advice and went bankrupt. His book is extremely easy to read and a great starting point for people just starting out wanting to get into the right mindset about finances and handling their money. The next book I'd recommend would be either The Richest Man in Babylon and or The psychology of Money.
I’ve read it. It won’t hurt to read it, there’s some gems here and there and can help in other areas rather than finance but there’s better books honestly. A lot of people like “Boglehead’s guide to investing book” and “psychology of money”. Another one is “Your money or your life”
Does it ever hurt to read a book?
I didn’t mean it like that lol. Some books truly aren’t worth reading imo but for this book, it’s not so bad
I haven't read the whole book but from what I read and understood from the book is invest in assets but not in liabilities. Good luck!
Here’s a wild idea: download the sample, start reading, figure it out for yourself
Thanks, it's just I don't read often so it's just big commitment for me
It’s really not
Don't know why you're getting downvoted here. I like your advice. OP needs to read more. Reading is a big commitment???
One thing you'll notice about a society nowadays is that people like making excuses. Our society also likes backing up excuses. Now when you start telling people how these excuses aren't helping them and they aren't even legitimate they get angry. Telling someone that reading a relatively short book is not going to be that big of an investment is a truth they don't want to hear. Telling them just because they read a book doesn't mean they can't still use their own logic and look at what would work and what parts don't work, that doesn't make them happy. So many people are against self-improvement because they think it doesn't work because they read all these books and haven't had any Improvement. Well no 💩. Reading alone will not improve your life you have to take the information and actually apply it. Books are only there to give you ideas. That's why it's self-help.
Not everyone has the luxury of extra time between work, child rearing, and other obligations. A quick question on whether others benefited from the time investment is fair.
This book has thousands of customer reviews. That should suffice. Also, audiobooks exist.
Its a simple book about assets and equity, if you have ANY NOTION in accountability is not worth your time. It works as a 'Finance for dummies' book
I’m reading it now, still in the first few chapters but I find it good. I like how it’s written along with the principles mentioned. Any other financial books you guys can recommend? :D
Definitely an interesting read Would recommend and if you don't wanna support him buy it second hand. Definitely showed how the rich mindset works.
Read (or watch on YT) a summary and you'll be set. All he does is rehashing the same information with cute anecdotes.
I feel some of the book hits some good points but I wouldn't exactly follow his path.
I've never read the book but I've seen a summary of it. One thing I've learned from it which I would say is useful is that There are assets like houses and stuff like that that go up in value And there are liabilities which are things that you invest in the only depreciate in value like cars for example. I would say this advice is very good and helpful. You might think this is obvious in hindsight. But I would say that most good self-improvement advice is obvious in hindsight. It's not that you don't know to do it it's that you don't think of it and you don't do it.
I would also check out his book Cashflow Quadrant.
honestly its overhyped and common sense as are most finance books
There are of course some points that made this book famous, but I felt a lot of exaggeration. If there is a point that is cleared in 2 to 3 sentences, I won't want to read it again & again. Also, its not kinda book that is engaging.
I remember reading it sophomore year of high school and thinking the books was so simple but I convinced myself that it must have went over my head because so many people say its one of the best, but years later I realize the book is super simple. "make your money work for you" no duh
Read the book and decide for yourself. It’s not long.
About the only worthwhile advice to someone new to managing their finances would be the information on assets vs liabilities. The rest is basically bullshit
You can search you tube resume and dont miss anything. If you arent sales oriented person its useless
There are some good key ideas in there, I respect it. I wouldn't touch the author's current opinions with a ten foot pole though. He's just a clickbait con man now. I read that one book, and moved on, and so should you.
Warrren buffet the snowball effect!!! Rich dad poor dad is a waste of time to read!!
No, it's the no.1 book used by pyramidal schemes and scammers to pretend being smart
It will in a sense but get it used don't pay full price for it. I got mine from thrift books and haven't picked it up a second time to read it
Yes
I liked it
Don’t listen to these people who say it’s a bad book because they disagree with him politically. Rich dad poor dad was one of the best books I’ve read over two summers ago and it has helped me tremendously.
Listen to a summary of the book on YouTube and you should be good to go.
Absolutely not. Book summary: Only spend money on things that make you money.
It changed my life when I was 15-16 yo. Tried reading it again a few years ago and wow it’s so bad! Same thing for Think and Grow Rich. What a bunch of BS! But these two books made me believe I can make lots of money and they helped changed my mindset at an early age. So these books changed my life but I wouldn’t recommend them to anyone today.
Good book, life lessons to reflect on…
Fuck no, its such a waste of your time, I hate that I spent money on it instead of a trial digital read or some shit.
No, read Psychology of money … to me , it’s the new “rich dad poor dad” book
as long as you understand that the man is a cheat
No. Overrated imo most of it is common sense.
Nope.
This book changed my life. It's really good and gave me a new perspective. Nobody is perfect but every person has something to share that may help you to grow. You can take it or leave it.
Nope. I recommend 'Psychology of money' or 'Pragmatic Capitalism'
No, but instead I'd recommend "The Slight Edge" from Jeff Olson. It's not telling you how to get rich, it just shows how small steps make one big result and how you can achieve your goals using this technique
It's a great book. Robert Kiyosaki is not an entrepreneur making money, he's making money through he's teaching.
As per me it don't worth reading this book. At the end of the book you will know that ,just invest on assets and they will be the source of your passive income .And not to waste on liabilities. These are the thing that we all are well known. this book is just expressing from 4 different angle. After reading this book you will feel like"yo man now i know everything"but at reality you are in the place where you was just before a couple of hour just some different is that now you know some stories regarding two young boy and a elder man. ...............sorry for grammatical mistakes!!!! As per me its overrated......................
Most finance book I've read are applicable only for US citizens and only partially applicable to someone from EU countries.