Re:Try something new (Score 1)

I've read a couple of his books, "My Rich Dad" series -- he's a very "motivating" individual but I found that his books lack alot of substance.

For instance - in his "Cashflow Quadrant" book - it's the first book to come out after his original "Rich Dad / Poor Dad" book - he keeps hammering you about the same thing over and over (ie: Better to have assets and live of the income from your assets) ad nauseum. Yeah, I get the point.

To sum up the book:

a) Maximize your Assets and try to get rid of your liabilities as much as possible.
b) To build up your Assets, the best mechanism are (1) starting your own business to eventually (2) become an investor in multiple ventures and use the money you make on your assets to funnel back into your assets [to grow them and multiply them] and ultimately derive an income from that.
c) Wealthy people don't live on a salaried income, they live on the income generated by their assets.
d) Pay yourself first.

There's a lot of good advice in his books, but it should be taken with a grain of salt like anything.

Other books that are worth reading are "Millionaire Next Door" by Thomas J. Stanley and "The Automatic Millionaire" by David Bach.

It's quite possible to retire wealthy as an employee if you start saving money young enough without going through the possible hardships involved in starting businesses.

Creating a business makes you get there faster though. And if you're already past the age of 35~40 when you start, then it's often the only mechanism that can get you there if you don't already have a nest egg.

Most of my friends are geeks like me and all but a handfull are up to their neck in debt - living paycheck to paycheck. Alot of them have made the mistake of increasing their lifestyle as fast (if not faster) than their increase in income allows. Its just not a good idea.

There is one thing I agree wholeheartedly with Kiyosaki - this sort of "Financial Intelligence" really isn't taught in school at all. What you learn in school is "Study Hard - Work Hard, get a good/safe job" and everything falls into place.

That was good advice say, 50 years ago. Today though, I'm not so sure.

I tend to dissagree with him though when he talks about the value (or lack thereof) of education sometimes.

- Me.