4 ms·
Rich Dad, Poor Dad It's by no means a great book, but it covers the basics, it's accessible, and I read it at just about the right time around 18 years of age.
by tacostakohashi 6y ago
Rich Dad, Poor Dad
It's by no means a great book, but it covers the basics, it's accessible, and I read it at just about the right time around 18 years of age.
Something better / more modern might be:
https://www.penguinrandomhouse.com/books/317640/the-index-card-by-helaine-olen-and-harold-pollack/9780143130529/ https://www.penguinrandomhouse.com/books/317640/the-index-ca...
Learning the basics of accounting goes a long way too.
Unfortunately, you also need to read up a little bit on the gory details of taxes and deductions, pension schemes, etc in your country, and that stuff changes all the time, so the books and knowledge rapidly gets out of date - you want to try not to get distracted by the minutiae of that, and focus on accounting, assets and liabilities, income and expenses.
- millstone 6y agoSteer clear of Rich Dad, Poor Dad. It is a fun read, and it does contain some good advice. But the author lies about his past, and the origin and quantity of his wealth, and the book also contains dangerous and illegal advice. I suggest The Millionaire Next Door as a better book. A good takedown of Rich Dad from John T Reed: https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1 https://johntreed.com/blogs/john-t-reed-s-real-estate-invest...
- croo 6y agoI'm sorry but no. I read a lot of books where the narrative is a lie in order to tell a story. It does not make the message wrong. I also read Rich/Poor dad around 18 and it had a profound impact. I understood how should I think about money, I understood what cashflow is, how companies different from simple humans in terms of tax and a tonns of stuff like that. It's just a good introduction to basic finance for those who don't have a clue.
- beckingz 6y agoTurns out the author has had three bankrupt business! Easier to sell get rich quick advice than to actually get rich it seems.
- besnn00 6y agopreach
- mav137 6y agoSeems you fail to grasp that the overwhelming majority of business ventures are destined to fail. It's the production of successful and profitable ventures that matter. Read about Walt Disney's bankruptcies and failures. Should we conclude the same about him? https://www.streetdirectory.com/travel_guide/5535/marketing/walt_disneys_failures_could_inspire_entrepreneurs.html https://www.streetdirectory.com/travel_guide/5535/marketing/...
- fiftyacorn 6y agoA business bankruptcy doesn't necessarily affect personal wealth, and can create a nice tax loss
- mav137 6y agoGood book I'm reading now is "Invent & Wonder" -The collected writings of Jeff Bezos. A whole lot of the ventures or projects explored by Amazon were complete failures and lost money. Says to embrace it. The winners more than make up for the losers.