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strongchick
Well-known member
okay. I finished this book, Rich Dad Poor Dad.
The quick review: it is a prologue for books like 'Get rich with Dave DelDotto's Real Estate secrets....NO MONEY DOWN!'. Re-hash from the early 90's.
The long review:
If I have to hear again how real estate is the way to riches....geez. Real estate sucks. And then he tells you....'don't want to fix toilets? Well I don't either. So hire someone to fix toilets.' Well, if I had the money to hire somebody, I wouldn't be so concerned about it in the first place!
The best thing in the book is the one thing we already know: The rich have more assets. And a home with a 30-year mortgage is NOT an asset. Well....I kept telling my parents this and they look at me like I'm crazy, so I now have validation.
The rest is common sense too: Own a corporation to evade taxes and liabilities. Buy real estate at a bargain, sell it before taxes catch up.
The man will just tax you more if you make more....well,of course, why else would I drop a ridiculous job as a traveling sales schmuck even though it paid six figures!??!!! Taxes!
But then he doesn't tell you how to make sure you are in control of your assets if you can't claim that you own them (and thus be taxed).
So now I have more questions than answers, which is what he claims was his purpose.
Fuck real estate. You still have to suck up to banks for money to purchase it if you don't have a stash of dough. And those banks want you to have your ducks in a row. His answer to that? Find people with money to give you. Right.
So I'm bringing the book back to the Barnes and Noble. And I'm starting my own magazine for gay women in my area. Hell...if its successful, it will be a fucking ASSET, like he says I should be buying.
I'm getting my $16.95 back!
The quick review: it is a prologue for books like 'Get rich with Dave DelDotto's Real Estate secrets....NO MONEY DOWN!'. Re-hash from the early 90's.
The long review:
If I have to hear again how real estate is the way to riches....geez. Real estate sucks. And then he tells you....'don't want to fix toilets? Well I don't either. So hire someone to fix toilets.' Well, if I had the money to hire somebody, I wouldn't be so concerned about it in the first place!
The best thing in the book is the one thing we already know: The rich have more assets. And a home with a 30-year mortgage is NOT an asset. Well....I kept telling my parents this and they look at me like I'm crazy, so I now have validation.
The rest is common sense too: Own a corporation to evade taxes and liabilities. Buy real estate at a bargain, sell it before taxes catch up.
The man will just tax you more if you make more....well,of course, why else would I drop a ridiculous job as a traveling sales schmuck even though it paid six figures!??!!! Taxes!
But then he doesn't tell you how to make sure you are in control of your assets if you can't claim that you own them (and thus be taxed).
So now I have more questions than answers, which is what he claims was his purpose.
Fuck real estate. You still have to suck up to banks for money to purchase it if you don't have a stash of dough. And those banks want you to have your ducks in a row. His answer to that? Find people with money to give you. Right.
So I'm bringing the book back to the Barnes and Noble. And I'm starting my own magazine for gay women in my area. Hell...if its successful, it will be a fucking ASSET, like he says I should be buying.
I'm getting my $16.95 back!
