/biz/ - Business & Finance

>>54567753
LOL. Now you know why he's rich.

>>54567753
Nigga got two dads

Read the bitcoin standard instead.

Read Mein Kampf instead

>>54567776
This

Read Jane and Dick instead, that seems more your speed.

>>54567753

I can save you reading the book by summing it all up:

>Rich people buy assets. Poor people buy goyslop and consumer goods.

I have now saved you 40 buck and a few hours.

Just eat eggs 2 meals a day for 1 whole year

>>54567753
Top Dad Bottom Dad.

>>54567753
are you a faggit? This retarded chink who thinks he's an amerishard has been bankrupt twice, admits rich dad was a fake, admits he makes more money from shilling his self help bullshit and his courses than he makes from investments and then jumps on the SETF shit. Somehow gets on MSM and tells people dollar worthless buy silver, am big property guy, also bankrupt. Chink.

>>54567753
I hate this man; he pedals bullshit to desperate brokies. Here I’ll save you some money and reading:

>Broke people spend money on depreciating assets while wealthy people spend money on appreciating assets.

He’ll never actually give you any game plan for acquiring appreciating assets unless of course you have the capital to attend one of his overpriced seminars.

>>54567753
Yes, this dude is just another grifter. Hes one of the people who ignores the lack of jobs with livable wages. He tells you just to save more than you spend and assumes anyone not saving is just wasting their money on worthless consumer goods.

>>54568110
But how do I buy assets? The only asset he talks about is property and businesses but I don’t know how to flip houses/build a business

His whole thing was real estate investment. Very profitable at around 2008 but it's way fucking out of date now

>>54567753
Yeah he's a giant douche. His "advice" is basically to middle-man and take advantage of others, be a landlord and invest in risky startups. I think it's sad that he had more respect for a guy that only cared about business than his own dad who worked in education and didn't care much about money. The book called Tax-free Wealth from his series is pretty good, it's written by someone else.

his advice is good but could be summarized in like 3 pages instead of 300 lmao.

>>54568195
You buy appreciating assets presumably with other people’s money i.e. bank loan, investment partner, or seller finance options in real estate.

>>54567753
It's not THAT bad. It's good if you're a normie, and want to learn the basic concept of appreciating assets. But if you already know this, don't bother

>>54568195
shamelessly go into debt and deprioritize paying it back. thats the other part of the book

>>54568330
the guy laughs at people buying property and larps that US gov gives him money to buy property. (maybe it does). He claims on his talk shows that your country gives him blank checks for millions to buy up property. wtf. do you really do that? or is he just full of shit

Yes OP keep reading boomer advice

buy used cars and sell them for more. stack guns and ammo and sell them for more. mow your law like a champ. then mow both your neighbors lawns. charge them for it, and fuck thier wives and sell thier cars for them and take a profit.

>>54567753
he's a self-help guru

>>54567753
>parental stuff
get out of there immediately, listening to boomer advice is practically economic suicide, the only good advice I got was when I had to start investing and someone told me with hami, he was a fucking artist nsfw

>>54567753
He himself has said that this book is not as applicable as it used to be because the economic environment has changed.

>>54567753
The only important lesson to learn from this book is that rich people did not get rich by having a good job. Jobs are for people trading upside for comfort and security.

I thought the whole point of the book was “if you are a rich dad, then you are a bad father figure”, but now I believe it’s completely unrelated.

>>54568154
>has been bankrupt twice,
One thing he talks about in his books is that entrepreneurs can be wrong many even times and even go broke, but only have to be right once to get rich. You'll never be rich if you are afraid of going broke.

Rich mindset vs. Poor mindset: Emphasizes the difference between the financial outlook of the rich (investing and creating wealth) and the poor (living paycheck to paycheck).

Financial education: Stresses the importance of acquiring financial knowledge and understanding key concepts such as assets, liabilities, and cash flow.

Assets vs. Liabilities: Highlights the difference between assets (generate income) and liabilities (create expenses) and the need to build and acquire assets.

Work for money vs. Make money work for you: Encourages finding ways to make money work for you (investments, passive income) instead of solely relying on earned income from a job.

Mind your own business: Suggests focusing on building and managing personal finances and investments like a business.

Tax advantages: Underlines the importance of understanding taxes and utilizing legal tax advantages to maximize wealth.

Entrepreneurship: Advocates for building businesses and creating jobs to generate wealth.

Learn from failure: Emphasizes that failure is a part of the learning process and should be used as a stepping stone to success.

Surround yourself with smart people: Encourages building a network of knowledgeable and successful individuals to learn from and grow with.

Continuous learning and self-improvement: Stresses the importance of lifelong learning and personal development to stay ahead in the financial world.

>>54569761
Certainly! Here are three important concepts from the book "Rich Dad Poor Dad" that can be further explained:

Assets vs. Liabilities:
Assets: These are items that generate income or increase in value over time, contributing to your overall wealth. Examples of assets include rental properties, stocks, bonds, and businesses that generate profit.
Liabilities: These are items or debts that cost you money and decrease your overall wealth. Examples of liabilities include car loans, credit card debt, and expenses like rent or mortgage payments. The key to wealth building is to accumulate more assets and minimize liabilities.
Making money work for you:
The idea of making money work for you revolves around the concept of passive income. Passive income is money earned without active involvement or direct effort. This type of income is generated by assets such as investments in stocks, real estate, or businesses. By focusing on building passive income streams, you can create wealth without solely relying on your job.

Entrepreneurship:
Starting a business or becoming an entrepreneur can be a powerful way to build wealth. When you create a successful business, you're not only generating income for yourself but also creating jobs and contributing to the economy. Being an entrepreneur requires a different mindset and skillset than being an employee, including risk-taking, problem-solving, and the ability to adapt to changing circumstances. By developing these skills and embracing the entrepreneurial mindset, you can unlock new opportunities for wealth creation.

>>54567787
GAAAEYYYYY

>>54567753
>Am I wasting my time? I’m on his second book and he repeats a lot of the same bullshit that was in his first
Play the old video game instead of reading his books, specifically cashflow 202. His books are really basic in comparison to what you can learn online.

The game is actually a great way to practice decision making and simulating portfolio risk. There's a simulated stock market with options in there.

>>54568195
>But how do I buy assets? The only asset he talks about is property and businesses but I don’t know how to flip houses/build a business
Fuck real estate for this part of the cycle, I'd just focus on cash flowing crypto assets.

The buy assets philosophy still applies to crypto assets.

For example this coin BPT pays 30% APY in WETH weekly, so it's an asset since it pays out income.
https://www.coingecko.com/en/coins/blackpool-token

Where as if you bought Bitcoin since it has no yield you would consider it a form of cash vs an asset.

The goal of the Kiyosaki model is to trade between cash and assets to increase income over time.
You can use tools like this to find assets that cashflow.
https://tokenterminal.com/terminal/metrics/ps-fully-diluted


Do you have any specific goals fren? I might be able to point you to more specialized info if you do.

>>54568360
Probably full of shit, but it wouldn’t surprise me if the U.S. government promoted “hope makers” to keep the illusion going for the slaves that if they just behave a little longer good things will come their way. Casinos unofficially do that shit by having family and friends win, very publicly with house money, and then just put the money back in the registers. Makes all the plebs think the place is hot. I’ve seen so much shit like that at this point and become so jaded, I wouldn’t doubt for a second the U.S. pulls similar shit.

>>54567753
the main takeaways I had from this book is starting a corporation is good and not that difficult, and that it's better to buy a business than a house if you have neither.

>>54567753
having read over 60 investment related books i can confidently say that you are wasting your time
they all say and repeat the same things
if you would read 5 of them (no matter which), you would obtain all the """knowledge""" that is containted in the rest of them.

>>54567753
he's a MIGAtard
that should tell you all you need to know

>>54572059
I've thought about reading this book only to get an idea of how absolutely cucked information used to be "back in the day". See what used to pass for "alpha" back in the largely pre-internet days. Figure out what the fuck my parents were working with. I'd get pretty fucking depressed a few chapters in I'd bet and gain a new appreciating for anything else I could use now.

>>54572063
There is no excuse to be a bigot and conservphobic. Its 2023, grow up.

>>54572076
politics are for fags
but I did watch an interview with this gook and he was talking about "my buddy Trump" and going off on facebook boomer tier rants
he's just retarded

>>54572076
Bold statement for an emasculated incel.

>>54568110
his entire book can easily be summed up in picrel

>>54572345
Bold statement for an emasculated incel.

Read japanese ln written by women instead, trust me

>>54572359
this desu
well done anon

What assets you stacking tho?

>>54572359
but what if them stocks go to 0? these days he says he doesnt hold stocks and keeps his gold off shore

>>54567753
If you’re paying for the books then, yes. His books are redundant and always point you to the next book. That being said, he does discuss some good broad themes that you should know but don’t expect any clear paths.

>>54567799
this. oy vey

>>54567799
/thread

>>54567753
When he said your home is not an asset it raised quite a shit storm. But that’s the one of the main things that changed my way of thinking for the better. The home you live in being an asset is a boomer tier mentality. There are much better ways to invest your money these days so if you can wrap your head around that one simple concept then the books were worth the read. Also how he explains his cash flow quadrant was pretty based as well.

>>54567753
HAHAHAHA

>>54567776
Yep that's why I "viewed the free preview on the russian server" Front to back "free preview".
Kek.
Yeah he's just saying shit that could have worked for middle class boomers in certain US states and thats basically it. His realestate advice hasn't been widely viable since about 2010.

>>54572359
I actually had someone show this to me irl so its funny seeing it here

>Have no job
>dodge expenses
>dodge liabilities
>buy assets with the money you dont have because you are poor and now in prison

also if your liabilities are increasing more than your assets whats the point of not paying them? you still owe money, just call them and settle the debt for 30% of the total amount lol

My favorite suggestion from this book was an idea for passive income was "write a hit song and collect the royalties."

Oh, so your advice for the common man reading this is to become a rock star? Very practical, thank you

>>54572444
Stocks didn't go to zero in WWI or WWII. Why would they ever go to zero?

>>54573295
Just because the market doesn't go to zero doesn't mean individual stocks cant go bankrupt

>>54567753
>buy assets
>don't buy dumb shit
>be your own boss #slay
that's the whole book. I've never read it btw. Ithink it's probably a good book for a 12 year old.
>>54567799
Based

>>54573344
So buy a index

>>54572940
What did he say about cash flow?

>>54567753
one of the books that inspired CZ
https://fortune.com/crypto/2023/04/10/the-making-of-cz-changpeng-zhao-exclusive-interview-binance/

>>54572359
> Rental income

YouTube gurus and real estate agents made this

>>54567753
He gets rich selling get rich advice to people who are too stupid to see the obvious.

>>54572940
Home ownership only makes sense to me when it's a small % of someone's networth.
So for pretty much my entire region it's about $500k for a decent house. That's going to come out to ballpark $100k down + $3,500 mo.
That's a fucking huge expense and if it's all your savings + your upper limit for monthly expenses you're going to be owned by that house and your income not the other way around.
Because I have a bunch of cash, cash flow from a business, and relatively low expenses my employer can't make me their bitch.
They can fire me but I only need to make about $20/hr to maintain my budget.
>>54573264
Maybe 'write a book about financial independence to collect passive income' was a little too obvious.
>>54572940
Everyone wants to be a business owner but the reality is very few people do it for a reason.
For most people it's going to make more sense to find a skill set you can develop and scale up to get higher pay.
Then use that pay to buy assets, take risks, just live life.
If you make $200k/year and your $150k investment goes tits up well that sucks but you will be able to recoup it a lot faster than the guy who has a $50k/yr job.

>>54573264
Your failure is in thinking yourself as a common man or thinking as a common man. Praticality with its reference in your current paradigm will make you poorer

>>54567776
kek

Read Das Kapital instead

>>54567753
>bought his second book
youre probably retarded. the lesson in the first book was obvious after the first 10 pages: buy incoming producing assets that make your money work for you
thats literally all it is.
now fuck off

>>54567776
/thread
fbpb

>>54577764
Not a comedy thread anon

>>54573295
>>54573690
plenty of stock markets have gone to 0 in history during times of war. they aren't safe at all

>>54567794
''Muh global evonmic crash'' ''people will use muh ledger instead''

Everything in that book is proven bullshit.

>>54567753
when he wrote his first book, he was a broke with a lot of debt and just release from bankruptcy act, nobody read his books and take it seriously, we all laugh about his joke and book while reading, if you don't believe go read a bunch of bad reviews all over the internet many of them shame kiyosaki and his lousy book. But now he have own a big fat real estate portfolio with many hundreds apartment units for rental!!! Guy are taking his books seriously now? You know what? I smell fraud from here, when you start shilling his book I know it must be damn scam now!

>>54567776
LMFAO

>>54567753
Read the Richest Man in Babylon, it teaches about risk management.
I'm using it on my DeFi trading strategies by staking stables on SpoolFi and it's working like magic

>>54567753
Those books suck. The only thing that's true from them is that you won't get rich from working but that's not exactly earth breaking news.

>>54579834
That yield aggregator has its own risk management system faggot, so you aren't doing anything special

>>54567799
Read this instead. This guy got Hitler into Nazism.

>>54579639
>More worried about if Stocks are safe during a war rather than your health and well being.
NGMI