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/biz/ - Business & Finance

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676462 No.676462 [Reply] [Original]

So is this Rich Dad Poor Dad version 2.0?

>> No.676505

bump.

>> No.676529

>>676462
No, it's completely different.

I liked it.

>> No.676555
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676555

>>676462
It's too bad being a millionaire doesn't mean shit anymore. After inflation if you're in your early 20s it's going to take at least 5 million after taxes to retire. Good luck with that.

>> No.676563

>>676555
$1M > invest in index > easy minimum $50k a year

So you can easily live of 1.5-2M dingus

>> No.676582

>>676563
More like 5.6M, if we want to be honest with each other now. Guranteed 20k monthly at 5% minimum.

>> No.676584

>>676582
(5.6M * 0.05 ) / 12 = $23.3k a month

Also you can live for less than that if you want to retire early

>> No.676585

>>676582
how would you spend 20k a month...

>> No.676586
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676586

>>676563
You're not taking into accout healthcare costs as you start aging. You're not taking into account inflation or Taxes. You need at least 5 million.

>> No.676587

>>676585
Why wouldn't I?

>> No.676588

>>676587
why would you...

>> No.676589

>>676588
Because I can.

>> No.676590

>>676586
Dont you have any health care insurance in the States ? I dont have to worry about that, when you live in a 1st World country you kind off forget about it

>> No.676591

>>676589
why not 37k...

>> No.676595
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676595

>>676590
Scandinavians are the last ones that shoulld be talking about being 1st world. The government is going to take 90 percent of your earnings when you go to pull that money out for retirement. You probably need about 10 million to even consider retiring.

>> No.676596

>>676591
The sky is the limit

>> No.676599

>>676596
how about 15k...

>> No.676604

>>676595
>90% Capital gain tax
sure thing dingus, long live socialism

>> No.676770

>>676582

You're not taking the money to the grave. It's perfectly fine to spend the principal when you're 90 years old.

>> No.677406

So this is a legit book?

>> No.677422

>>676462
It's 300 pages of:
>working a job won't make you rich
>build a business and amplify to make a few million
>enjoy being rich

Thanks a lot Sherlock

>> No.677434

>>677422
Is that all? Is it at least motivational, without the near criminality negligent bad advice of Rich Dad?

>> No.677436

>>677434
Yeah, the advice isn't very concrete but it's extremely motivating.
Makes you think success isn't down to luck at all.

>> No.678792

>>676585
19k on women.

>> No.678814

>>677434

There are literally no books that are going to give you specifics on how to make money.

It's all going to be feel good self help, vague bullshit like >>677422 said, or telling you to go do the research on your own, which brings you back full circle.

>> No.678816

>>677436
>Makes you think success isn't down to luck at all.

The douchebag author even calls it bad taste, or offensive to call wealth a luck thing.

I have news for the author, he made a shitty website in the .com boom days and sold it for a couple million dollars, bought it back during the bust, and sold it again. Essentially timing the market by accident everytime.

His website still isn't worth any "Real money" when you consider it in the context of uber, facebook, google, amazon or any of the real web 2.0 boom players.

if that isn't luck, i don't know what is. it's clear the guy had next to no skill in actual web design, and short of basically static web pages the man never made anything of value.

yet he's rich and he did it by accident overnight, so he feels like he can shit on the people that are actually living off wages/skills and call what we do the "side walk to success" or "slowlane"
instead of the "fastlane to being a millionaire" which is actually just fall ass-backwards into lucky cash that he never actually earned.

good for him. i thought his shitting all over me working for a living was condescending and I reject the idea that anything he did was other than luck.

I know he hates it when people call him on it, but it's the truth, and now that he's realized he actually has 0 ability to do any sort of useful web programming, he's decided to become an author and tell us all how awesome he is.

guys got an ego the size of jupiter, and literally nothing but lucky cash to back it up with.

if he was so skilled, and so convinced it wasn't luck, if it was so easy, he'd still be out there making more money instead of being a retired author.

>> No.678821

>>678816
Except even if all the guy can do is pure static HTML, and he managed to get millions, then objectively he is worth more than a great developer who can't make much money. If youre in software development you know what Im talking about - 95% of people don't have any personal projects and start to stagnate mid-career. These 95% of guys weren't jumping on the .com train, the web 2.0 train or the btc train, even attempting to make it rich, so indeed they(myself currently included) are in the slowlane.

>> No.678839

>>678821

no... because our friend, mj demarco, got lucky. for every mj out there, there are 100 who made static websites and didn't fall ass-backward into money.

that is the true slow lane to success. those fuck ups that played it just like MJ don't have benefits, 401k, or any money to show for anything.

meanwhile most programmers that "grind it out for a living" are making 75-120k within 5 to 10 years of starting in the industry at 50 to 60k.

that's 5 to 10 years worth of hard work that MJ Demarco knows nothing about... and it's earned those programmers the right to say that have 5 to 10 years of experience at real programming. They can take that skill set anywhere and make ~100k a year. over a life of working (call it the slowlane if you like MJ) you can amass vast wealth at that income level, and it is guaranteed. unlike shitting out some static webpages and convincing some suckers to pay you a couple million for your "hard work."

That business plan works out in a small percentage of the time, but it fails massively in most cases. I've watched several of my college grad bods, who were super smart dudes, who "got it." (the idea that you make massive wealth by running a company, not by grinding it out) none of them made it. their companies eventually failed and they were lucky to get out with a little cash each time, but they'd have been better off wage slaving it for 130k a year like me the whole time. I'm 10 years out of college and I've EARNED a million bucks. I've spent a lot of it so I don't have a million to show for it, but I do have a lot of wealth to show for it. MEanwhile my buds are lucky to be grinding it out now for small companies where they are gaining equity positions. sort of a middle grounds to what they were doing and what i have been doing all along. if those companies make it they might make a couple million from their equity stakes, if the companies don't make it, at least they'll have their wages to show for it.

>> No.678908

>>678839
I get what you're saying, its nice to have the fallback option of 10 years of solid skills, and a bit of a nest egg. But is "wealth in a wheelchair" as MJ stated really the dream? I mean, its way better than poverty under the bridge, but is that what makes a mans heart race? Furthermore, the half-life of an average software dev is pretty short. 40-45, and then what? I saw that my problem appear in my own father, luckily he had an engineering background and a few other skills where gray hairs are valued, not thrown away. There has to be a way to maintain that backup cushion and still have a chance at making real money.

>> No.678954

>>678908
>wealth in a wheelchair

i'm worth half a million at age 33... I could pay cash for a ferrari right now.

i don't own a ferrari. I own several sportscars, but no ferrari.

this should tell you something about the mindset of someone who values the money he has EARNED vs. the mindset of these "motivational speakers" that try to sell you on the lamborghini lifestyle of lottery tickets and lucky business ventures.

i'm perfectly happy with grinding it out. it's working very well for me and it's working quite well for millions of other americans. I'll be a millionaire in the next 5 years on earnings/savings alone and when the market hands me 10% return on my stocks because of a good year, and I haven't worked for it.. maybe i'll buy a ferrari then.

but right now, grinding it out is working from home 3 days a week while working 4 to 6 hour days.

This is much less work/hassle/stress, and much more guaranteed, than starting a business and working my ass off to get it off the ground, only to see it fail.

>>678908
>There has to be a way to maintain that backup cushion and still have a chance at making real money.

There are some corporate positions where you are actually in control of the business direction of a large fortune 500, you get the back up of a good salary, while also taking advantage of profit sharing for your division or larger company. After being promoted a couple times I am at that level and got a 25% bonus on my salary this year. I work a little harder, I get a bigger bonus.

It's not selling web companies for 50 million dollars, but like I said, it's much more guaranteed. It's not buying lottery tickets either.

>> No.678974

>>678954
hold up one fucking second anon, are you telling me wealth for the average person requires work, thrift, skills and patience. And recklessly investing my earned money into starting up companies won't guarantee that my special snowflake business will succeed. B-but muh passive income, muh MLM, muh motivational speakers.

>> No.678979

>>678974

Sorry to break it to you anon.

On the other hand, if you do it 10 times maybe that 10th one will succeed. but if each attempt takes you 3 years to recognize failure/success and you start at 25, you're now 55. the wage slave game pretty much puts you in the same place by 55 so long as you aren't wasting your life working as a dollar store check out clerk, or some other bullshit position made for teenagers and foreigners.

>> No.679009

>>678979
I'm not discounting what you're saying but you've been in the workforce for over 10 years. The scene looks quite different these days.

>> No.679019

>>679009
>The scene looks quite different these days.

I'm dying to hear more.

>> No.679025

>>678979
wage slave game gives you zero satisfaction. to each its own.

>> No.679028

>>679025
patience and discipline!

>> No.679029

>>679019
What I'm saying is that they don't hand out $130k jobs like candy. I'm sure there are a few, but is it smart to tell everyone to pursue those few jobs?

>> No.679043

>>679029

You're not going to like this... but I started out at 58k out of college (with 2 years of internships under my belt at $15/hour) and worked my way to a 130k job over 10 years.

The same way someone starting a business would have had to work their way from no profits, to some profits, to lots of profits.

Neither route is guaranteed. Neither route is easy.

I think at the end of the day what the fastlane hypers are talking about is... if you go the corporate route there is no chance of "winning the lottery" and having your million dollar company bought out. But if you go corporate there is a much lower chance of failure as well and they hate to admit that or even bring it up.

>What I'm saying is that they don't hand out $130k jobs like candy.

Well I guess since you and all the millenials refuse to work for anything less than a 6 figure salary, you should all go out and open your own companies. There is no way you could ever just succeed at that job and get promoted...

>> No.679053

>>679043
>You're not going to like this... but I started out at 58k out of college (with 2 years of internships under my belt at $15/hour) and worked my way to a 130k job over 10 years.

btw, my wife did the same, so now we are looking at 260k a year + investment income returns.

it's a pretty good life if you can find a partner wage slave and you share the same goals and dreams. Who cares if you have to split the ferrari with a beautiful girl, so long as you get to drive half the time? Kind of need the girl along for the ride anyway so you don't look like a loner faggot...

>> No.679066

>>678908

I have a variety of sites, services, and products that make several thousand. This is not hard to do given the vast amounts of money out there.

I still do contracting, and that puts me at an earnings level far more than I spend.

Most of the successful small businesses I've encountered have taken similar approaches. Make money on the side, transition to contracting, and just follow oppotunities.

Most of the people I know who have went the startup route have eventually ran into financial trouble and closed their business.

>> No.679080

>>678792
Good choice.

>> No.679083

>>679043
We millennial want it NOW!

>> No.679118

>>679083
Actually millenials are far more risk adverse than the generation before.

Less sex, less booze, less drugs, more degrees.

>> No.679134

>>679118
>less drugs

I think you meant fewer.. but in fact, there are more designer drugs these days than at any other time in all of history.

>> No.679325

>>676555
>Not buying a house in Niceragua for 50K and living on 1000 a year.

>> No.679480

>>676462
>>677434
People keep hating on Kiyosaki, Rich Dad, etc on /biz/ - I don't get it.
I would have literally no financial intelligence at all and would never have bothered if he hadn't explained some general concepts and principles.

A lot of the same people who hate on him recommend Mike Maloney, who, to me, just seems to take 10 times as long as Robert Kiyosaki does to explain anything.

Call it dumbed-down if you want, some people, like me, NEED it dumbed-down, we have to start somewhere. he said himself he wrote it so that a 9-year old could understand it.

>lots of people fail at success/biz

So what? Lots of people fail at life, trying to get or hold a job, before they get outsourced to another company or continent.

Ask any firm with a layoff of a thousand staff, how those people feel about taking the 'safe option'.

>just learn programming

People have different personality types, some, like me, actually NEED some risk in their life, or they stagnate. Not everybody can do programming, but then not everybody can do what MJ did, so 1 = 1?

Just think on this, every single entrepreneur throughout history has used the leverage of new technology to make obscene amounts of cash in a very short space of time.
Technology built by brainboxes like you, engineers, programmers, smart people right?

I will exploit it and use people dumber than me, and will hire smart people like you, to build or design something else.

>these books have nothing useful, nobody can tell you how to get rich, etc

You sound like people who have never read any of these books, or read one then got frustrated because it didn't have all the answers.
It's not what's in the books, it's what you take away from it, and what you do with it.

Threads like this are the reason I laugh and realise there really is no competition from 99% of the planet, just like some of these 'silly' books say...

>> No.679628

>>679480
anyone can learn programming you are just being lazy
aside from steve jobs and a few lottery winners most people know the foundation. Quit making excuses like a woman trying to justify your laziness.

>> No.679655

>>679134
Yeh but how many rc's is one gonna mess woth before turning back?

Id rather have lsd or mushrooms any day of the week

Synthetic weed shit? No thanks

bath salts? Is meth even expensive?

>> No.679703

>>679480
He also gives quasi legal and downright dangerous advise in the book

>> No.679745

>>677422
It seems stupid, but a lot of people actually need 300 pages of reiterating the sentiment of "build a business, don't work a job" before they start to get it

>> No.679837

>>679628
Nigga, I don't even think you read what I wrote.
I'm making more than ever doing my side hustles and business ventures.

It's already working for me,
And saying 'anyone can learn X' shows you really don't know anything about identifying strengths and weaknesses.
At many times in my life, I would've worked pretty much any job for any wage.

with my mindset now, Nobody would pay me what I think I am worth, because I earned it through my own ventures.

>>679703

Can you name any examples?
I only ask since a lot of his critics don't appear to have read the book.

It is also worth noting that 14 of his books, courses , etc were co-authored by Sharon L Lechter, a qualified and licensed CPA and attorney, and presidential advisor.

Robert was merely the entrepreneur behind the branding and presentation.

>> No.679855
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679855

>>676595
This is legit though, the way i look at sweden is that it's beneficial for me to live here until i start earning actual money, with that said i'm gonna move to for example USA since it's easier for a higher/middleclass man to earn money in murica.
at least I'm getting educated somewhere else than this stupid country.
feel free to oppose my opinions and other places worth living.

>> No.680003

>>679837
lmao
no you where writing in the future tense so I had no idea you had a nerd exploitation factory. I dont care about your side hustles and business ventures. You are just making more excuses for being lazy and masking it under "strength and weaknesses" yes anyone can learn anything, its a matter of engaging you mind and putting the hours in. You are strong at making good excuses. Secondly most engineers are fucking morons anyway and know jack shit. If you dont know more than them you will get fucked. It doesnt take much to learn what you need, no need to try to spin your lazy pathetic ass in a positive light.

>> No.680155

can't you keep your dayjob and take babysteps with a well outsourced (not offshoring) business?

i will never resign myself to working for someone else. it's just not right being threatened to lose your livelihood out of a whim

i've been reading Go It Alone by Bruce Judson and it's pretty old (2004). what do you guys think about it?