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It has been a long time since I read it; but I don't consider "Rich Dad, Poor Dad" a 'how to get rich' book. The real benefit I got from that book was how it d
by reboog711 11y ago
It has been a long time since I read it; but I don't consider "Rich Dad, Poor Dad" a 'how to get rich' book.
The real benefit I got from that book was how it draws a line between a liability and an asset. For example, a car is not an asset; especially if you had to take a loan to pay it off. That is something that takes money away from your cash flow every month; not add to it.
A rental house that brings in money every month is an asset. The book goes on to say you should never get rid of an asset unless you are replacing it with another 'more valuable' asset.
- TooSmugToFail 11y agoThat was the only take-away for me, back when I read it maybe 15 or more years ago. But in addition to that, I can't say I got more out of it...
- spdionis 11y agoSounds important enough. It changed my view of things too.