Reading Material

[option8 0]

Anyone read any great books lately that have impacted how you view your business?

 

I just finished Rich Dad, Poor Dad! Now I need to go back and review for other titles he mentions in the book.

 

option8

[Summer 0]

I recently read Rich Dad, Poor Dad, too and I found it very eye-opening. I actually look at things much differently since reading it. I will now be sure that my son becomes financially literate at a young age.

I also read the RE Riches by Rolf de Roos (part of the Rich Dad series)

 

I also read Smart Couples Finish Rich. I feel it's so important that we, as couples, are on the same page financially. This was an easy to read book and it was simple to implement it's ideas. It's amazing how we can assume we are on the same financial path as our partner only to discover we are miles apart.

 

I've also been reading the general RE stuff too such as:

 

RE Financing Manual by Jack Cummings

Mortgages for Dummies

RE Foreclosures by David Whisnant

ABCs of Subject To

and so on....

 

 

I love to read so I've always got several books going on at once.

 

I'd be interested to hear what you've been reading.

Summer

[MichaelC 160]

Let me quickly cast a vote for The Millionaire Next Door, by Thomas Stanley and William Danko.

Interesting read of interviews with "ordinary" individuals who have risen to become millionaires through fiscal frugality.

One, (of many), interesting facts in the book: the self employed make up a bit less than 20% of the workers in this country, but account for about 67% of the millionaires.

[Andrew Ikeda 0]

Hello Option8:

 

I like the "Rich Dad, Poor Dad" series too but I read an article from Money magazine that pointed out some flaws in his techniques. But despite that, I think his philosophy is very good. I liked book 3 "Rich Dad's guide to investing". Another great book is "Building Wealth" by Lester C. Thurow. He talks about the future of the economy and gives some easy to understand concepts of building wealth in the new century.

Happy reading!!

 

Andrew

[Mr Saint 0]

Hey all,

 

I too am a big fan of the Rich Dad series. I've just recently picked up "Cashflow Quadrant" and it's an eye opener. As where "Rich Dad, Poor Dad" lays a very good fundamental groundwork for changing your mentality about wealth, Cashflow Quadrant focuses more on the business and investing aspects. It basically spells out the differences between employees, self-employed, business owners, and investors. It's a great one to add to the arsenal of advanced awareness

[option8 0]

Thanks Andrew and Mr. Saint.

I will definitely pick up CashFlow Quadrant. I also just finished reading Rich Dad's Prophecy. This too was an eye-opener expanding on the flaws in the retirement system.

 

Andrew,

Do you know which issue of Money Magazine addressed issues with RD,PD? I'd also be interested in reading that.

 

option8

[Andrew Ikeda 0]

Option8:

 

Sorry I misinformed you. The article is called "Karma Chameleon" and is featured in the Feb 2003 issue of "Smart Money" magazine. You'll find it quite an eye opener too!! The author states that Kiyosaki printed the first 1,000 copies of RD,PD and then gave them to a guy who was in Amway who then gave them to his mlm buddies who then made him famous! Also, Kiyosaki admits to only having been involved in one IPO and the CEO of that company doesnt know about it, only said that Kiyosaki invested in a subsidiary six years after the main company was formed. It's an interesting article.

Also read "RD's Prophecy" book but I was disappointed in that one. It makes sense that millions of baby boomers are going to want cash out of their portfolios but a whole book on the subject? I could have written the same theme in a two page article!! Hmmm....these days I'm becoming a skeptic.

Read the article and then let me know what you think of it.

 

Andrew

[Guest Rat Race Hater(ImAnEagle)]

Hello...LONG message here,

 

I couldnt get my hands on the feb 2003 money magazine article about Robert Kiyosaki but Im curious... Do you think he just tells everyone what they want to hear...or would you say there is real value in his advice? I find value...

 

I have read 6 of his books and I feel like I have a greater understanding of wealth creation, personal finances, Beginning business building, and a great deal of motivation for me has come from his books. As a matter of fact I read his first book and thats when I started looking for other ways to make a living and ultimately it has lead me here to this forum...it has lead me to get involved in a real estate investment club in my area, and I now know what I want out of my life that I couldnt pin down while I was in High School or even the Military. I also didnt believe it was possible...and now I do, and because I do, I have been a sponge for the last 2 years concerning business building and real estate and I surround myself around like minded individuals. Its just a matter of application of what I have learned.Otherwise...I would have given up a long time ago. Mostly though, I believe his books are motivaters and everything should be weighed against another outside source for credibility(perhaps someone who owns a few businesses), but whats common sense in his book is rare information to folks who have spent most of their adult life trading hours for dollars for a living...and little time learning about wealth. So he has found a way to reach the masses and add a touch that many of us need to get started...whether or not he truly has a rich dad and poor dad or whether or not he was in an IPO process matters little to me because all the media attacks his success or questions it like a political race. He mentioned how he wanted to be involved in the IPO process and how he went about it in one of his books...It doesnt surprise me that the CEO didnt know him or perhaps the CEO didnt want to mention it because of the possible impact the negative media would have on his company...who knows...the truth always seems unclear and its hard to trust information sources. I guess I have just taken everything thats good from his books and locked it in memory and Ill continue to do that with all the books I read...including the naked-Investor Manual...because all in all we live our life and keep the information close to heart that we can apply to make our lives better...the rest(questionable info) we replace with more positive life changing information. I hope that we all do that as we grow old. Live,Learn, Sort, Grow...but always believe. Of the 5 or 6 bad things Ive heard about his empire and credibility...there are about 300 informative bits of material that have helped me...so like I said...I find value in his books despite the things I have heard others write or say.

 

I learned that when I reach a certain level of desired success...Im going to write a book about what it takes...but Ill only do that if Kiyosaki fails to continue to educate humanity(his mission statement for his company) in financial matters. Otherwise Ill have to write a book about picking up hot chicks,lol, cause thats the only thing I know the ends and outs to and very good at...but doing it doesnt interest me because Im in a serious relationship(another book). Sorry for the long winded response...I just want people to understand that wealth is one of the single most challenging endovers in life...because it takes 110% commitment and there are no short cuts to me, If a man reaches financial independence...it was because of 3 things......He desired, he searched all possibilities imaginable, and he found what works for him. One writer, I doubt, can make that happen...but 1 writer can be where you start...and in the end...youll probably find yourself writing...I would say thats a sure sighn that you did something right within those 3 things that happen on that road to wealth. I started with Kiyosaki, Ill probably end with pen in hand writing...perhaps another L/O agreement...or maybe my Life Will or maybe while Im reading another book wondering if I just wasted my funds on useless propaganda that some writer wrote to get some extra cash. Even then, Ill find a way to apply 80% of everything I read at least...because thats what it takes...if Im going to route 2MILL$ of everyone elses money from business and so on...into my bank account. Those that contribute to that 2Mill have to believe that there is value in what I say and do.

[pinkerton 0]

Claude Diamond has several ebooks and articles out that are interesting and amusing. Several web sites have his stuff, just do a search on www.dogpile.com with "Claude Diamond" as the search term and you'll find his material.

 

Mike Pinkerton

[Andrew Ikeda 0]

Greetings Everyone,

 

I saw the latest posting by Mike (Pinkerton) and wish to comment again.

 

The above postings from me are not to discredit or pooh-pooh Mr. Kiyosaki....quite the opposite. I actually like the "Rich Dad, Poor Dad" series very much and am now reading "Retire Young, Retire Rich" for the second time this year. His books have helped me out immensely!

 

I have both his Cashflow 101 and 202 games and my wife and I are quite the pros with this game. We've learned a ton and are grateful to Mr. Kiyosaki for opening our minds and eyes to the real world of investing and the mind set for becoming wealthy. To this day, I am still motivated to retire within the next 10 years.

 

In my opinion, some of the 'advisor series' did not do much for me at all. The books on protecting your #1 asset didnt do much for me at all. Neither did book 2 "Cashflow Quadrant" or the 'prophecy' one. The others are all well worth the price and reading. Diane Kennedy's books are fantastic and she recently wrote one on real estate taxes that is highly informative and a MUST reading for all real estate investors.

 

Thanks for your time and reading this.

 

Andrew

[mpine 0]

Any Roger Dawson fans?

 

I have been reading many of his articles and am enamored with his strategies thus far so was contemplating running down to Borders this w/e and grabbing a copy at full price, whats $4 if you have to wait days you could be using the techniques, right?

 

I was also considering his video tapes as I feel one of the most important aspects of any real estate deal is negotiations.

 

 

If anyone is interested his latest book is Weekend Millionaire: How to Become Wealthy In Your Spare Time!"

 

You can also read many of his articles for free Here

 

Mike

:ph34r:

[Summer 0]

Just wanted to add a new book that I found helpful,

 

"The Power of Focus" by Canfield. Hansen and Hewitt

 

Illustrates and gives exercises on how to be foused and stay on course with your goals. Great for any type work venture. I highly recommend it.

 

Summer