/biz/ - Business & Finance

>>51652894
No because it’s outdated, kiyosaki is based af though

>>51652933
what's a modern book you would recommend?

this bait thread again kek

>>51652944
Idk I don’t read

>>51652965
I don't what you're talking about. I was listening to today's Fresh and Fit podcast and the book was mentioned on it by JWaller.

https://www.youtube.com/watch?v=cuMHYNbhDk4

>>51652894
Yeah it's a good book I'd recommend it. I like the audiobook version. It teaches you simple lessons on the mindset many people have used to become rich. It's not some definitive guide, but it's inspiring and does have very solid lessons

>>51652933
>>51652894
its fine to get the general mindset you should be in, there are some outdated ideas in it though

>>51653077
>there are some outdated ideas in it though
like what?

>>51653178
this obviously isn't a real example but along the lines of "you have to learn cursive because that's all you'll ever be able to use as an adult" and now everything is typed.

>Fresh and Fit
it is fitting, isn't it

>>51652944
>Reading
Just find people online that aren't retarded and learn from them through video/ audio
You'll have to be able to filter out who's retarded and who isn't but you should have already been doing this since like middle school so hurry the fuck up

>>51652894
>Own assets not liabilities

There i saved you three useless hours where a man passive aggressively copes with hating his own father. Useless book

>>51652894

That's a book for kids i read it when i was 12

it's funny people on /biz/ make threads about this book but nobody actually talks about it (because it's worthless)

>>51653318
if you've zero concept for money it's not a bad stepping off point

>>51652894
It teaches you nothing practical about investing and finance. It basically teaches the mindset of richfags vs poorfags, and he's more or less correct, but it's not really useful information.

>Imagine reading the book of a chink

>>51653393
Kiyosaki is more of a red blooded american than most whites

>>51653240
>>51653366
what podcast you recommend listening to?

>>51653600
The daily shoah

>>51652894
This book is odd. I don't think it works as a HOWTO, but rather, it works more like gospel about thinking like a slave, vs thinking like a free man/woman. It changed my life, though the real takeaways are only a few rules of thumbs (I've read it five times):

1. The rich only buy assets; the poor only have expense; the middle class buy liabilities they *think* are assets.

2. Assets put money into your pocket; liabilities take money out of your pocket.

>>51654078
I'll add one that was useful for me:

3. Only get wageslave jobs in order to learn a particular skill (as opposed to waging for the paycheck). The example he used was working door-to-door sales to learn social skills, how to sell and handle rejection, and practice not being a sperg.


Also, IMO his next book, Cashflow quadrant or whatever, was better. Summarizes the Based Dad Cringe Dad without using the larp stories, and adds a few chapters including one where he rants about central banking and fiat scams and gets so close to naming the J.

Read it first then read the Richest Man in Babylon, because the latter gives practical advice and an action plan

>>51653209
so you dont have a clue if its outdated or not lol lmao even

>>51654183
>and gets so close to naming the J
what's the J? weird thing to say.

>>51654333
No I don't recall the specific example directly from the book but I remember making that analogy while reading it. Also eat my ass

>>51652894
Yes it's great but beware he makes a lot of people seethe.

>>51654078
>the middle class buy liabilities they *think* are assets.
what are common liabilities the middle class *think* are assets?

>>51653366
Just understanding richfag mindset is enough for a lot of otherwise ngmi's to at least not end up on the streets or on welfare.

>>51652894
trash book lmao. i read it cuz i fell for marketing when i was young.

>hurr maximise assets
>hurr minimise expenses
>oh btw cars are expenses not assets

>>51654431
My dad bought a $65k toyota prado on loan and claims it's an asset because it drives him to work everyday despite never offroading or using it on the job and is a net loss on paper.

>>51654387
>eat my ass
found the troon

> This book was mentioned on Fresh and Fit

>>51652894

I have an MBA. Yes it’s a good beginner book. It has principles I still use to this day. Anyone who says he’s wrong is an illiterate moron. The premise is simple and easily proven.

This dude has sat at my bar before, very chill and quite soft spoken, he tips well too.

>>51654462

And? What exactly about that was wrong?

Warren buffet has billions in passive assets and his expenses are low within upper middle class range.

He’s the living embodiment of these simple principles. But I wouldn’t expect an uneducated neet to understand investing and finance.

>>51654619
It's not wrong. It's just so simple that it's not worth however much the book is charging.

>muh warren buffet
lmao

>>51654631

It’s 10 dollars on Amazon you cheap fuck.

>>51654643
i could instead invest that $10 in stock and i would have $11 next year.

this is why im rich and youre poor. here i saved you from having to buy that book.

>>51652894
All you have to watch is this.
https://youtu.be/v2MkhDtmuIQ

>>51654652

All normies have no idea what investing is. This book takes a complicated subject and breaks it down to its most basic level so that a child can understand it. The book is a game changer. 10/10.

>>51654431
assets are things that appreciate in value.

cars don't. watches don't. even though some of them do on average they don't.

houses appreciate (at least the land they sit on), paintings, black lotuses, children.

>>51654700

True houses appreciate but unless you’re renting that house for income it costs money in upkeep. Hence the liability status.

>>51654730
lol no a house is an asset.
>unless you’re renting that house for income it costs money in upkeep.
you are gonna have to live somewhere so you are either paying rent or maintenance.

>>51654360
Jamaicans anon

>>51654748

If you use standard accounting verbiage yes, but if you wanna use a successful and more accurate term you can work with, it’s a god damn liability. But this is what fucks people up and Robert literally talks about this exact same argument all the time.

>My house is an asset

But you pay 5000 a month in mortgage taxes and upkeep

>it’s an asset!!!

People think buying a bigger house means they are becoming richer, but when you look at a financial statement their expense just go up. It’s really a liability.

You’re financial advice ruins peoples lives

>>51654820
The reason you are getting fucked up is because you are borrowing money and paying interest.

There's no need to pollute the definition of 'liabilities' with houses because people borrow money and pay 30 year mortgage like a retard.

just don't borrow money.
>You’re financial advice ruins peoples lives
i never advised people to borrow money to buy mcmansions. gtfo of here

>>51653264
>>Own assets not liabilities
This but I would also add:
>Poor people see money as a way to consoom things they want, while rich people see money as a way to make more money
Then also more or less cutting to the chase in a symbolic sense:
>Capitalism is essentially voluntary feudalism. Any serf can become a lord if they set their mind to it and make the right calls enough times. The goal of any man should be to eventually own his own land and have the means to pay serfs to work it for him while also profiting from the land.
>>51653366
Also an important point

>>51654873
>Any serf can become a lord if they set their mind to it and make the right calls enough times.
that's only true if youre high IQ. but if youre high IQ your parents probably middle class at least. capitalism works because the low IQs are stuck at the bottom as they should.

>>51654862

Wow. This shows how little you know.

What is real estate tax?

What are utilities?

What is maintenance?

Even if you pay off a mortgage on a regular house those expenses don’t go away.

Why are you so married to an antiquated idea? If you look at a financial statement a house costs money. Only if you sell it does It give you money but then your out of a home and back to square one again. Just stop anon. It’s embarrassing

>>51654907
>What is real estate tax?
>
>What are utilities?
>
>What is maintenance?
are you retarded? You still pay for those when you are renting you dumb fuck, they just get packaged up into 'rent' instead of separately.

fucking retard. this is what happens when retards read a book and parrot it with no understanding.

> If you look at a financial statement a house costs money.
if you look at a financial statement, buying grocery costs money. you have to compare it to the alternative of buying goyslop. compare rent to maintenance minus appreciation you dumb fuck.

fucking retard

Where do you guys rate the Fresh and Fit podcast, especially their Money Monday episodes? They're self-made millionaires so I guess it's safe to say they know something.

Any other podcasts worth checking out?

>>51654929
>They're self-made millionaires so I guess it's safe to say they know something.
what about that catch me outside girl. she's a self-made billionaire so she must know something right?

>>51654941
Yes, but females can generate wealth just from existing.

Fresh and Fit made their wealth from investing in real estate.

>>51654927


Renting is still a Liability! Mortgage is still a liability! You haven’t proven you’re case at all you fucking retard. You need to have a 3 digit IQ minimum to post here. Go back to plebbit

>>51654982
>>51654967
>>51654941
>>51654929
>>51654927
https://pastebin
.com/1UKc6jLs

>>51654900
>that's only true if youre high IQ
IQ definitely gives you a huge advantage but that's not the only factor to consider. The truth is if you go to a university campus and find pretty much any midwit business major with real drive to succeed, they have a much higher earning potential than some brilliant but cripplingly autistic engineering major. If you're talking about entrepreneurship, then drive and the willingness to grind and seek out mentors and investors is arguably far more important than being a 200 IQ savant. Take Steve Jobs for example. The dude was a midwit at best but he knew how to be an asshole at the right time, how to fuck over the right people, and how to keep certain people just happy enough to stick with him that he was able to claw his way to the top. Sure you have Bill Gates and those types with actual technical knowledge are able to succeed even more, but that is a rarity in tech and even he used Jobs as a springboard for his own success. Then consider those who are low-IQ but are still more successful than your typical midwit. I'm talking athletes and organized crime mainly I guess. That doesn't preclude their tendency to fuck themselves over (i.e., Michael Vick losing a multi-million dollar football contract over fucking niggers doing dog fights, Al Capone going to prison over tax evasion, Pablo Escobar getting outed as a kingpin after trying to run for office in Colombia). Sure, they get filtered by fucking themselves over a lot of the time, but that doesn't necessarily mean they can't make it.

>>51654792
jamaicans are involved in central banking?

>>51654333
Checked and I'll give an example: he has the typical boomer take of just buy real estate and rent it out for cash flow because it always goes up. Right now we are at risk for a Japan 1991 scenario, where real estate drops for 20 years and still doesn't break even after 30. Also COVID showed that courts will favor tenants over landlords, so you're exposed to lots of hidden risks. Getting rich from real estate like he did is going to be much harder in the coming decade.

>>51652894
It's trash. You're better off going to bogleheads than reading that crap.

>>51654982
renting is an expense. mortgage is a liability.

get rekt. youre just spewing words you have no understanding like a retard that you are.
>You need to have a 3 digit IQ minimum to post here.
then why are you posting, retard

Reading books is what rich people actually do. Whether that is why they are rich, or simply a symptom of class, I don't know. But having the same habit as rich people is probably a good thing. Know any poor people who own a library in their house? Or that even seem to read ever? At all? Me either.
For this reason alone ignore all the faggots saying not to read the book, they are retarded and probably poor.

>>51652894
He's CIA or state dept or something. He is constantly on TV and he's never done anything other than write a book. His book immediately got bought up and stocked by stores, ergo now his only claim to fame.

>>51652894
His advice boils down to
> never get a job
> mbas are useless
> always start your own business
which only works because he is born in a time of economic prosperity where every retard can make it a.k.a boomers

Read the series (there are three RD, PD books) as a teen. Basically, he is anti-status and un-American with his advice, advising people to disregard flashy cars and drive any old beater, live in a basement if they must etc.

>>51654333
Shit like "haha you can write off cigars and whisky as business expense suck my dick wagies" and "buy real estate it goes up forever"

>>51654680
investing is: having insider info
fight me.

>>51653600
anyone really does this kind of stuff anyway?
I mean, anything can work for you if you're lucky, luck prevails here, even things like holoclear that are in pre-sale could be profitable in the long run if you are patient

>>51655725

This books is a meme for sure, but your summary:

> never get a job
> mbas are useless
> always start your own business

You got the first point wrong, it is work for experience.
The rest of his advice lead to me owning an 8-figure business and a mid 7 figure net worth.
If you just take from it a mind set then the book is a good investment of your time.

Anyone who tells you why you can't be rich.. Or can't own your own business is lazy and not willing to do the work.

>>51654900
>Wealth is correlated with IQ.
Nice one, retard.

>>51655635
>Reading books is what rich people actually do.
My fuck, that's a low IQ opinion.
You mean poor people are incapable of reading? Or some other trash opinion.

>>51655635
>Know any poor people who own a library in their house? Or that even seem to read ever? At all? Me either.
Yeah, me and every other fucking human on this planet can read.
You don't even leave your moms basement you little turd.

>>51657616
>You got the first point wrong, it is work for experience.
That's something rich trust fund kids do to pad out a resume...the rest of us work to make money.
Jesus fuck, this site is low IQ.
>HURR DURR POOR PEOPLE CANT READ.
>DURKA DURRR YOU WORK FOR EXPERIENCE!
Lowest IQ site ever, even reddit is more intelligent with more nuanced takes.

>>51653420
tell em shlomo!

My mom read the book and told me how it changed her life.
She's still retarded with her finances, doesn't own a single asset, rents and lives paycheck to paycheck.

>>51657674
it is though

>>51655635
>own a library in their house?
Fucking retarded, books are FREE at the public library, why spend money and space on them?

>>51652894
in my opinion it's a good book that will give you the perspective that people use when it comes to getting rich and only really describes one way to actually do it. in reality there are many ways. you have to think outside the box and the best way to get rich is with a market/thing you are most informed in already, where you can get some sort of advantage. and it applies mostly to US, in europe it's not so relevant.

>>51652933
true, i read it when i was 13, havn't been able to wage since

>>51657824
he flew fighters for the air force retard, born and bred in the 51st

Self-help books are universally shit.

>>51655092
>Pablo Escabar
>low iq
nah

>>51654792
>>51655127
"Ya mon" is just shorthand for viewing everyone as easy money.

>>51657616
> Anyone who tells you why you can't be rich.. Or can't own your own business is lazy and not willing to do the work.
Look buddy, it really doesnt count if your dad subsidizes everything

>>51652894
it's a meme book
by a japanese meme
why else do you think a white guy
took a japanese name and created
a digital currency