As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Thursday, 7 September 2017

This Book Rich Dad Poor Dad

Read? Rockstar 360 Report: Best Financial Books as Ranked by Personal Finance Bloggers

The Top 3 Most “Overrated” Finance Books

The most-mentioned overrated book by far (and it wasn’t even close) was Rich Dad, Poor Dad. What’s really interesting, though, is that it had roughly the same number of “favorite” votes, and so finished near the top of that list as well, as you saw before.

Of all the books we’ve seen, this is the one that sits squarely in the “you love it or you hate it” category.

CW8888

If you have read this book many years back and still hate or doubt it!

Come and lim kopi!

You may have missed the idea behind this book to seek financial independence or financial freedom; and get out of Rat Race either as employee or self-employee as early as possible. Getting of Rat Race is NOT retiring from you day job. It is about the option with the capability to slow down and letting your peers get ahead of you.

Let them spin the wheel harder; and relatively you can slow down; but the team as whole is still ahead. Bosses are happier when come to year end appraisal as you have made their jobs easier.

Over the years; Uncle8888 has many kopi sessions with some doubters or haters e.g. many of them are his ex- colleagues, suppliers; friends and cyber kakis. 

He illustrated what he has learnt from the idea of this book - Rich Dad. Poor Dad. It is NOT about his Method! It is about Assets and Cash Flow and Uncle8888 illustrated the idea from this book with his Wealth Formula.

Read? Blog Posts related to Rich Dad . Poor Dad

In the next public talk; he also has one slide ...




3 comments:

  1. CW,

    Have fun at your talk!

    I guess your message will resonate with those who have an "Ah Q" bias - "It is about the option with the capability to slow down and letting your peers get ahead of you."


    Maybe its my DNA or what. I tend to see things from "land owner" perspective.

    I read Rich Dad Poor Dad as plugging the benefits of being a "business owner".

    That's why MLM marketers often give this book to their underlings, opps, I meant downlines!


    Its like ink blots; we see what we want to see.


    The poor "employee" CEO with his multi-million salary and bonuses will probably read Rich Dad Poor Dad with a wry smile and chuckle!




    ReplyDelete
  2. In short, and simple term, Chinese saying,"people looking for money is very difficult, money looking for people is so much easier".

    So how much capital you have for the next Bear market?

    The first $500,000 from the market is quite difficult.

    After that will it be easier?

    i don't know.

    ReplyDelete
    Replies
    1. temperament,

      Yup, mom use that saying a lot! Sounds better in teochew ;)


      To make $10,000 from $10,000 is the hardest.

      To make $10,000 from $100,000 is much easier.

      To make $10,000 from $1 million, that's just a rounding error ;)


      And that's the "secret" if there ever was one... Just primary school math.

      Although I've seen some got it backwards... Which is fine if they have found what they enjoy to do (never retire), or don't mind retiring at age 65. What's the hurry right?




      Delete

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