3 ms·
It's written extremely poorly in my opinion (reads like a self help book), but the positive take-aways I got from it when I read it years ago... 1) Understand t
by ry0ohki 15y ago
It's written extremely poorly in my opinion (reads like a self help book), but the positive take-aways I got from it when I read it years ago... 1) Understand the difference between assets and liabilities (according to the author most people don't, which is shocking) 2) Take advantage of US taxation of corporations to spend money pre-tax as opposed to post tax (do this within the confines of tax law though) 3) You'll never get rich just doing what most people do, which is go to school, get a job, and work for 40 years. Starting a business is how the rich get rich.
- burnsie_la 15y agoI agree that it is poorly written. However if people take away from it the idea of getting out of debt and buying assets then I believe it is a great step forward!
- alsocasey 15y agoRDPD author's whole point about assets/liabilities centres around home-ownership and how many people see it as an asset or investment rather than a liability or cost-centre. It's the only good example of a common confusion in the book and it's really not that shocking in light of the market as most people will have experienced it and the marketing around refinancing and home-equity loans in the past decade.