About Assets in the Rich Dad Poor Dad Books ?

Question

In Rich Dad series, one important concept that they teach is invest in assets.


......o...k...... but do you know how many years it costs for someone on a normal middle class job to save up enough in order to be able to afford buying an "asset"? Real estates are assets, but how many years is it gonna take...... your salary has to goto daily expenses....rents...gas...bills....a little entertainment on the weekends....at the end how much can you really save up so you can buy an asset? will take a long long time...pls correct me if i'm wrong, im only in my early 20's...

and also have you read "Rich Dad's Guide to Investing" ? how do you find the information in that book? useful?

bob shark: man..i dont have a clue what you're saying loll but sounds very interesting i will look into it.....

Answer 1

I love the series of books. First of all, you don't need to be wealthy/have money to invest. However, you need to invest to be wealthy. I used bank loans to start my investment portfolios, thanks to Kiyosaki's tips. B4, I had the mindframe of saving money in order to invest.

Nowadays, I realize you can use the banks money to invest. Bank managers are often willing to give people money for a good investment. Money always follows a good investment, though you have to learn about them, invest to gain experience. Also, it's important to have mentors who've achieved whatever you want to achieve. They're a good source of guidance.

I like the Rich Dad, Poor Dad series of books because the tips have been helpful to me and are helping me achieve my goals.

Answer 2

Don't borrow to invest...you will find the interest paid will offset your gain on the investment, and worse still, if the investment loses money, you will still have the loan.

I will give you some good advice...pay attention.

You are young and that makes a big difference..Save up your money until you have $1,000, and take it to the bank and buy a no-load balanced mutual fund, Figure an amount per month that you can afford to invest and tell the bank to take this amount once a month to buy more shares of this fund,
Then start reading about investments, markets, market psychology, how changing interest rates affect markets, how current events affect markets, and anything you can learn about investing will help you understand.

This amount you invest every month won't be noticed by you (not having it to spend) after a few months.....Increase this amount when you can..if you get a raise, put the take home increase into your fund. As you learn about investing and understand your risk tolerance, branch out ito more diversification, Like a good equity fund, maybe a resource fund, but start with a balanced fund.

Over the years you will get rich following this advice, but don't start spending your fund on cars or trips...otherwise you will have to start all over again.

Answer 3

I, recently got involved with a company that preselects some of the best investments i`ve ever seen. They screen them so it lowers your risk. Check out one of there seminars. You can E mail me at [e-mail]. www.thewealthkeys.com

Answer 4

his books are probably the only investing books that i dont like, they are no help and he is clueless to the real world

Answer 5

I feel your pain, dude. I guess at first, yu have to find a way to increase your income using OPM. Good luck!