/biz/ - Business & Finance

[Anonymous No.50755360]

Is this a good book?

[Anonymous No.50755424]

>>50755360
good in your teens

once in your mid 20s you'll realize it's all bullshit and life isn't as easy as this faggot makes you believe it is

TL;DR don't trust anybody that got rich by selling books on how to get rich...

you're better of reading "the intelligent investor"

[Anonymous No.50755453]

>>50755424
>the intelligent investor
That one is about as retarded and idealistic. At least OPs book doesn't pretend to be a guide you can actually follow

[Anonymous No.50755529]

>>50755453
intelligent investor is a good book if you're an actual investor which is essentially no one. Who actually reads annual reports and investigates companies? No one. That doesn't mean it's a retarded book. It's like reading a book on advance thermodynamics or some other niche topic

[Anonymous No.50755591]

>>50755529
That preboomer shit may have worked 70 years so. Nothing is logical. Look at Tesla. Everyone is now a bad actor. I highly doubt those guys could have made it the same today

[Anonymous No.50755652]

>>50755360
tl;dr just buy houses and don't buy a new car every year

[Anonymous No.50755810]

>>50755360
yes, its more of a feel good type. BUT DONT kid yourself, what kiyosaki says is very good. Make investments in things that produce income. Own assets that produce income...OWN the asset and be ABLE to control it. He is big on saying fuck 401ks and Iras. He has grown much more accepting of Roths, but he is still against paper assets like stocks. He doesn't trust the government. hence why he likes real estate and using debt to leverage his income. Its his preference.

I don't fully understand why he is so against 410ks/ Iras...I do understand why he dislikes traditional 401ks/ Iras or high expense 401ks/ mutual funds.

But for the average person buying properties and renting them out is fairly out of reach. he really made his money on selling books on getting rich. BUT dont get it twisted, he is a real estate guy.

His big thing is:
1. build business's
2. Use business to form new LLC to buy real estate and rent out.
3. Repeat.

[Anonymous No.50755823]

>>50755360
to become rich you have to allow your subconsious mind to accept becoming rich is a possibility in the first place

read think and grow rich
implement the teachings of the book
thank me later

[Anonymous No.50755845]

>>50755823
"Think and grow rich" by Napoleon Hill, that is.

[Anonymous No.50755885]

>>50755529
>>50755453
shit I forgot /biz/ demographic nowadays is literally poor and retarded zoomers

goodbye kids, have fun

[Anonymous No.50755894]

>>50755529
Nobody does it because it doesn't work. I bet you've never done it yourself, otherwise you wouldn't have so much faith in it. One of the steps in "fundamental" analysis requires you to literally make up future revenue. It's all a scam, it just sounds legit because it's complex

[Anonymous No.50755931]

>>50755885
I have a bachelors in financial management and unlike you I've actually done the kind of research that is described in "the intelligent investor". There's nothing intelligent about it, it's all retarded

[Anonymous No.50756589]

>>50755810
Using debt is based. If i wasn;t retarded I would have bought a house before this recession

[Anonymous No.50756712]

>>50755360
>don't spend money and invest it
it's fine as babby's first finance book but there's a lot more to learn

[Anonymous No.50756745]

>>50755823
this anon is totally correct and that is the ultimate finance book, along with listening to some neville Goddard talks. also 'reality transurfing' if you're a giga nigga

[Anonymous No.50756908]

You learn more about business reading what mr Nagasaki did than actually reading the book.

>pretend until you make it
>more than selling books, sell dreams
>morals are for poors

The company he founded with his students money which did nothing but give him a millionaire wagie until banrktuptcy was a god move, literally pajeet scamcoin tier.

[Anonymous No.50757391]

>>50755360
>a friend is looking for a commercial property for $200,000
>find one for $150,000
>sell it to your friend for $200,000
profit

[Anonymous No.50757459]

>>50757391
>irs take 50%
>unprofit

[Anonymous No.50758080]

No, it's self-help seminar horseshit. Here are some actually useful investing/finance books.

Investing:

>If You Can (free PDF)
>The Four Pillars of Investing
>A Random Walk Down Wall Street
>Common Sense on Mutual Funds
>All About Asset Allocation
>How a Second Grader Beats Wall Street

History of investing/bubbles

>Once in Golconda
>Towards Rational Exuberance
>The Great Depression: A Diary
>Devil Take the Hindmost

Lifestyle/personal finance:

>The Millionaire Next Door
>Early Retirement Extreme
>Your Money or Your Life

These will be useless to 90% of the burger-flippers on /biz/ desperate to turn their $2000 life savings into millions overnight, but these are great for anyone with a decent career and surplus income for long-term wealth generation (not speculative gambling). If it's TLDR, just read "If You Can" - it's less than 50 pages long and summarizes all of the research these other books cover.

[Anonymous No.50758764]

>>50755823
This, unironically

[Anonymous No.50761345]

I liked it and I'll give him credit he does say in the book you should do more research and not just take his word for it.

[Anonymous No.50762869]

Shitty book made by a MLM charlatan what made more money selling seminars and talks than actual investing.

You will finish the book and receive no tangible advice or education on how to invest. He keeps regurgitating the same stuff all throughout the book - invest in assets, work for yourself, etc (all common cliches pushed by self-help guru's). At some points in the book this retard actually pushes tax fraud and joining a MLM scam in order to learn how to sell lol

[Anonymous No.50763288]

>>50758080
Thanks, will check those out

[Anonymous No.50763668]

>>50755823
He's a fraud
https://www.youtube.com/watch?v=iEDzb9ZplX0

[Anonymous No.50764002]

>>50755360
>Pay yourself first, then your debtors
>Acquire passive income, reduce liabilities
>Muh real estate, larp larp larp about my success
>Assist seminars and buy books (especially mine and give me passive income, goy)
That's pretty much about it. It's an ok book to read if you have 18 to 20 years.

[Anonymous No.50764038]

Anyone who preaches real estate and "passive income" is most likely a snakeoil salesman. It's a good rule of thumb. These kinds of books attract the financially illiterate. You should read One Up on Wall Street Instead.

[Anonymous No.50764045]

>>50762869
Yeah it's this. I've read the book too.
Here's his advice: start your own business. Waking is a scam. Just buy some cashflow rich assets!

Wow thanks let me just take my million dollars I have sitting here that I was going to just let rot and instead invest in real estate.

Also, I've actually started a business before and it is hard af. Also, you will probably fail because most businesses fail.

[Anonymous No.50764066]

>>50764002
>ok book to read if you have 18 to 20 years.
The book is short af bro. You probably read more while shitposting here in one week than the entire text of the book.

[Anonymous No.50764138]

>>50764045
He wage slaved till he was 30 then he launched businesses and bought houses after gathering lots of trivia knowledge from the military and other random companies he worked at. You Also have to remember that real estate wasn't an asset back before the early 90s. It only took off mid 90s. By the time he published the book he was beginning to start making millions off real estate. It's like buying BTC early I guess

[Anonymous No.50764147]

>>50755360
>Robert T Kiyosaki
Go watch a single youtube video he does and you'll have your answer (No). He is a boomer, with a boomer mentality that hasn't adapted to the times. If you think you'll have it as easy as he did you're in for a shock.
>>50755424
Not always the case. For example, Ray Dalio's books are all goldmines, but he founded Bridgewater and still manages hedgefunds.
>>50755823
Save yourself time and money and just take a large dosage of DMT if you want to expand muh mind. It will provide more value than that completely horse-shit book.

[Anonymous No.50764195]

>>50755360
I read this when I was 24.
Though I count Kiyosaki as a fraud the book changed my life in realising that game that was being played.

"Millionaire Fast lane" is a better book.

If I hadn't have read Rich Dad Poor Dad, I wouldn't have started this journey. I'm now 45.
1.1m house
1m RE investments
1.4m invested Bonds and Interest
3.5m business I own.

[Anonymous No.50764208]

>>50755360
It was a great book pre everything bubble

[Anonymous No.50764286]

>>50755360
Nah, that's a self help book. What you want is real economic advice and a bag of ultimate champions (ticker CHAMP)

[Anonymous No.50764327]

he has a billion dollars worth of debt that he has no intention of paying back aka based

[Anonymous No.50764418]

>>50764195
finally someone to ask this question: if you had to start over from scratch at the age you first started, what would your first year look like?

[Anonymous No.50764541]

>>50755360
Meh. It was good when I was 12

[Anonymous No.50764602]

>>50764066
I mean that by the time you're an adult you already learned or figured out most of the things he says. It's not about the length of the book. It's like watching Jordan Peterson if you're over 30, you've already learned most of the things he says the hard way. I wish I've listened him when i was 20, that's for sure.

[Anonymous No.50764703]

>>50755931
Don't listen to anyone with a degree this shitty lmao. Not even finance?

>>50764208
This. Part of the advantage of being a boomer is everyone with room temperature IQ wasn't buying anything.

>>50755360
It's a horribly written book but it has some truths. In particular you will never get rich being an employee.

[Anonymous No.50764811]

>>50764418
If I had to start over I would approach it the same way I started out.

Rule 1: is never go backwards, figure out how low you can get your expenses then take a preferably part time job that can cover those expenses.

Rule 2: work out how much starting capital you need, I expect about 20k for most businesses. Whether it's your part time job or a side gig make your 20k.

Rule 3: Refine your business model and website etc. While you are working. Wherever possible try to work in a field you want to sell to so you develop connections.

Rule 4: Soft launch your business and start talking to customers. No supplier will ignore you if you have active inquires from Customers.

Rule 5: This is my rule but I prefer to sell B2B than B2C and I always focus on high ticket items. When you're starting out don't touch any order under 5k. Focus on things like software and machinery with good resale margins from vendors.

Rule 6: As soon as you have the equity but CRE and move your business into that.


Remember 90+% of entrepreneurs are larpers thinking their networking events and Facebook posts are making them rich.. it's all bullshit.
Go after your customer.

[Anonymous No.50764849]

>>50755360
the short answer is no, the long answer is absolutely not

[Anonymous No.50764895]

Ay yo niggas let me tell you bout my new book
Rich Nigga, Po' Nigga

Rule 1: Is never give nothin to nobody. Just teef's what you can muh nugga

Rule 2: Get on dats dere welfare and government money ya herrrrrrrrd.

Rule Tree: Invest that money in some dope muh nigga, or go 10x it playin dice

Rule 4: Jack some rich heebs on they way to the bank.

Rule 5: Sheeeeit nigga i only gots 4

[Anonymous No.50765052]

>>50764895
audible chuckle

[Anonymous No.50765200]

>>50758080
>for long-term wealth generation
lmfao so in other words, for waiting until you're on your deathbed to get "rich". The poorfag sees rich people investing in mutual funds so they mimic them thinking that's the secret to riches. Monkey see monkey do. What the poorfag fails to understand is that mutual funds are not for generating wealth, they're for preserving wealth you already have. So if you don't have wealth to preserve (ie networth > $10MM) all you're doing is helping the rich distribute their risk over the general public and keeping their investments inflated. But, if you're grand high IQ strategy is to wagecuck your entire life away so you can die in rest home that's a bit more expensive then the other rest homes then by all means keep investing in mutual funds and 401k so you can cash out when you're demented and in a wheelchair.

[Anonymous No.50765218]

>>50755652
I didn't buy a car in the last couple years, so I'm halfway to untold riches

[Anonymous No.50765224]

omega fucking overrated, the sad thing is most people would improve their lives following his advice
it's not so much a comment on the quality of his advice but rather the absolute slave mindset that the average person has

[Anonymous No.50765226]

>>50755360
1. Don't blow it.
2. Keep it simple.
3. Count your money.

[Anonymous No.50765233]

>>50755360
Yes. Good starting point.

[Anonymous No.50765313]

>>50755591
Of course it doesn't apply to Tesla because Tesla is a growth company and he was a value investor you fucking retard.

>I highly doubt those guys could have made it the same today

It's the fundamental of Warren Buffets strategy.

[Anonymous No.50767081]

It's the only book I've ever read fully and then returned to the store for being so utterly trash, and I've read thousands of books, many of which were bad, but no other was so bad it was offensive.

Garbage book, read The Intelligent Investor instead.

[Anonymous No.50767288]

>>50755360
It's trash. He repeats the same idea/message through the whe book. It honestly could be converted into a pamphlet and you'd not miss anything.