Topic: richdad poordad has no more guide after achieving freedom - page 3. (Read 722 times)

I thought that is the only way to get out of this matrix hell, but there is always counterparty who would do everything they could to invade your private space. I call this bully in life would always around you and find any possible way to ridicule you and make your life a living hell, I was once come across the mostly absurd accuse ever, the bully told me: "you didn't verbally say I can't spend your money(to buy to my heart content!), you are on the wrong, not me, I'm doing the law abiding thing", , which is full of political bullshit, little did I know monetary issues could soon become family affairs hell, and there is little to no justice left when thing come to this point, bully can bend the rule just to do all the outlaws thing whatever he want, and the weak cant do anything practically from suffering monetary loss, in the end survival of fittest, strong bully the weak always take over the entire society order, not about fairness, not about making your hard earned money.

through the years, I had to loss quite a larre sum of life changing money to some lazy mf who just decide to live rent free at the expense of me, make me wonder the "pay yourselves first" is just a urban legend that can never possible to do within my capability, for some reason it has to quickly shift itself to "pay yourselve last, because for some stupid reason I need to bailout everyone else."

If you expect a book to tell how to choose your financial career then it is not possible, the book is about his experience and narrated which can help the readers to get the picture of what is going on and what are the things they have been told is wrong and what he did to become financially successful and it's not taught to you or to your parents but comes with the experience.

There are ways to richness or being poor that you need hard work to ulter and that is destiny. It is destiny that makes certain things go the way they go and no matter your effort, you are neither here nor there and someone with little or no effort succeed in that which has been difficult to achieve. So some people are destined for certain level in life and the book read is just to help those who are struggling in certain challenges to keep moving. Perhaps Elon musk and warren may be destined for such financial levels they have attained and any little effort takes them higher.

Forget about the notes, don't peep into them because they have a grace different from yours and whatever decision they took worked for them because of the grace that is different.

We are all different, don't be wasteful, guide your finances and follow your plans. Things written on books are not always the way they are, reality changes and circumstances are different. The Economist are not rich or super rich because they wrote phrases and hypothesis.

then you are not an advocate to the empirical study, without a foundation like a guide thing can't progress out of the controlled set of rules, or the walled garden, obviously a guide would always come in handy no matter what you say, without a guide in the game, you probably gonna waste a lot of lives and alot of time to beat the game, you can play super mario without guide ofc but how many time/how many life you gonna waste wandering around the same labyrinth, may be you think you have 20 lives to spare or 200 years of life, but not everyone is fortunate to start with infinite fund, they should need guide.

i dont brother what is inside the book, but I want to know what is next after the books, no matter how many books he wrote they are all circulating around the same set of knowledges/insights/thought, the first book is totally identical to the last book, there is barely any context added, if at all, why should people waste too much time to read twice the same textbook? I know some would crave the new book, because it give a brand new experience, new gadget new ux new ui new look new everything, impressive enough to attract new buyer.

The people, who need guidance throughout their entire lives are simply stupid. Do you really need a guide about what to do with your life from Day 1 to the day you die? You have a brain and free will, you'll figure it out. Do you want somebody to spoon feed you for the rest of your life?
Achieving financial freedom is something big. Most of the people will never escape the rat race. Are you really trying to ask about "what to do after I achieve financial freedom?" You can do whatever you want. Get a wife. Have kids. Save enough money to retire.
 

After learning all this cashflow thing that I found on Pinterest;


After achieving financial freedom with the help of that quadrant I think it is more on us on how we manage our own wealth since we now have passive income. Always remember that mismanagement of what you achieve might end you up the other way. It's actually about mindset, if you have poor mindset managing your wealth I think you need to hire a professional like a financial advisor. But one thing is for sure here if you want to maintain that wealth just be consistent on what you do.

OP are you really criticizing some self-appointed financial self-help guru for not telling you enough?  Most of those shitty books on how to become wealthy that are written by people who basically got lucky shouldn't have been written at all, much less had any readership, and never mind the people who hang on their every word.

If everyone followed the same investment strategy, that strategy would become a losing one very quickly.  True, there are methods such as value investing (props to Buffett) that have shown to be winners consistently, but like Buffett you really have to dig in and do it full-time if you want to do it right.  I wouldn't listen to anything that rich dad-poor dad dude or anyone like him has to say.

I think people who end up free from the cage and rat race need to start doing the opposite of what they did in the cage by focusing more on solving problems they are talented in and enjoy solving. The rat race is more about chasing after money and less about passion/talent. It's basically a race to do what you don't really like with attractive rewards. The rats love the reward/money alot. So it's used to bait them into a matrix trap, once caught, they are used as slaves to work for the system.

Once free, it's important to do the work you love and have talent for, then use that to benefit society.
With that kind of freedom, you nolonger need to do any kind of work for money. But I doubt people can really be free from the rat race without the CREATOR of the Universe by their side. The system of slavery will work against them, to starve, suffer or have them completely destroyed.

It's very funny when rich people write books and market it, it's really funny and then people believe that these people share all the success stories and if they read that book, they'll become rich like them. C'mon man, they write these books to earn more money, they promote it to sell as much copies as possible. Rich dad poor dad is a stupid book. There are some good advises in that book, like everywhere, but that's all. Overall, that book is bullshit.
You say that that book guides you how to get out of rat race and then ask what you should do after that. Be frank, if you are in rat race, did you leave that race after reading that book? If you left, then you need no further guide but if you haven't left, no book is gonna help you.

Interesting,there's always something to learn after reading an educational masterpiece as Richdad poordad.lessons ranging from been financially independent,importance of having a good financial educational background and making the right choice of knowing your assets and liabilities.
  His main intentions is to educate people with the life changing lessons to be more financially independent.
I won't start talking about the Richdad Poordad lessons,and I really don't know what you are looking for as a guide to freedom.The most important thing is to be financially stable.
Endeavor to learn and explore more on this.

That book was a hit. It must have offered something to a lot of people, but if you ponder on the author's life, you would wonder whether he used that book as a guide in real life or he was simply a failure. Having said this, I don't think financially successful people are living their lives according to a handbook or some written guide. I doubt Elon and Jeff and Warren are doing things according to cash flow 101 by this person and cash flow 202 by that person.

It's actually weird to hear somebody looking for a guide like this. Surely, you must know what freedom is for you.

ofc I'm not asking for something such as edward snowden esque, julian assange esque of life adventure, this is some extreme move to those people who try to jailbreak themselves from the cage, tbh, a lot of people could never possible to do such a brawl in life, I would say there is barely just one snowden, just one assange, just one steve jobs, just one wozniak,... so what does it entails? it look like doing something extreme is no longer warrant your goal of achieving "self actualization", it has to come with totally brand new, mind wrecking breakthrough, to do so, I doubt it would get even damn harder and harder to a point I could not know if global wars is itself enough to do so.

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ahahahahahahahaha, hahahahahaha. congratz you just spot the most obvious and straight to the point, tbh I get totally triggered by the provocation, no doubt it is what the entire society has been heavily design to achieve, especially the one that is coming from an asian culture, I had often jealous of how many freedom a western educated family could get by default, compare to the adversary, the other hemisphere that do exactly the opposite in social values, economic values, and education values. the incel-ism has to be so out of chart and making everyone life super harder by default, should I blame it on overpopulation, overcompetitiveness, over-hypergamism? why is guy migrating en mass all of a sudden, but is it worth it to migrate, dont get me wrong there is hardly any guy who achieve success by doing the hardwork on creating life supporting unit that benefiting every human mankind together. I'm seeing some ugly thing going on in my society, the medicine industry is slowly turning into scammer industry and nobody aint give a damn about it, I foresight eventually the medicine industry would turn into murder/poaching industry, nobody make noise on the malpractices and ethics of many doctors in town, many worship doctor has never make mistakes and they are expecting every doctor save life without conditions, providing their valuable service without any return in financially or emotionally, what can I say... thing is going totally absurd rn, I cant get out anymore, dead is awaiting, is there many people die in the hand of predator idk there is not many news, but one anons I come across tell me a lot of old members has died, I jokingly think they died in their online life by going out the door and get a new life, little did I know they really died physically, like just like a lot of coiners, anything for me to conclude, idk?

I think from what I've heard you mostly do one thing which is retain your own household and operate your assets mostly as a landlord which brings in income and has various tax deductibles so you profit in that way.   Also its a positive in that you will never be cursed with too much cash at any time that has to be managed, just the property itself.  Stick to what you know is the most basic advice possible, most people know their own community and town, what land might expand in value or not and various sources of demand in land use I guess is not so complicated but to an outside party this might be far harder to figure out then someone who has lived in that town their whole lives.    He says alot of other things but imo its mostly about invest or involve yourself in what you know, what you love and can handle the details of and most can manage the various jobs on housing or sourcing the people who will do that job etc.

the issues i see with people like richdad author is they sell the best case dream of returns.
AirBnB is not a guaranteed risk free income. you are not going to be booked every day, you need to clean up after last booking, repair damage. and the bookings can be just seasonal

it sounds nice on paper "earn by renting" but the reality is not a guarantee, as easy as advertised

its like seeing a "for sale" sign at a cafe..
you cant just look in window see 15 tables of 4 seats and just do math
60 people per hour * 8 hours opening * average plate $20 = $9600 a day.
there are many more variables to it. you cant just dream of earning nearly $10k a day before costs
reality might only be $2.5k

also this year seen alot of people sell their airBnB because this recession period has less people going on vacation
most of the adverts you see are EX-airBnB landlords offloading their property. suckering noob investors into buying the property.. so be careful
ask why the seller is selling his property

i see other "investments" like drop shipping.. yes its popular on social media. but if someone really had a sellable product. why would they try getting competition to also buy from wholesalers to then compete with promoter on amazon.
its because the product in amazon is not selling much. but the promoter actually works for/affiliated with the drop shipper where they sell wholesale to the noob. leaving the noob holding the stock at amazon.

I also prefer investing in crypto but that’s just us. There are those who prefer the stability of traditional investments like real estate because they feel it is a safe investment. Airbnbs are very popular these days and people are investing heavily into the business. I see a lot of ads on how to start your own Airbnb business on my social media everyday. You mentioned some challenges Airbnbs owners face but I don’t think it’s that bad since people are moving into the business daily.

the conclusion is simple.
dont sell all assets to then go on spending spree..
instead only use the gains from the asset. to live off.  not the asset itself.
enjoy living off the gains in anyway you please

I think the idea behind RichDad, PoorDad not having a concluding part as to what one should do when they're at the top is actually the right way it should have ended. Why do I say that? The goal is to achieve financial freedom and the book accomplishes that in its own way. What happens after that is entirely left to the reader. The reader has to pick up from where the book left up and carve their own path from there. Everyone is certainly going to have different paths. Even not doing anything more other than to just emjoy the earnings, is also a path.

You read the book => gain the knowledge => apply the knowledge => Become financially stable => decide own path.

i personally prefered stocks/shares and now bitcoin.. not real estate
mainly because its a buy once and hold. and if you buy low sell high the risks are low and no ongoing costs

real estate though, is not as simple. even if you bought a house in full. locked the door and walked away for 10 years. although it appreciates, there are still ongoing costs during them 10 years
neighbourhoods could have HOA or committee's that require maintaining landscaping, even shovelling snow.
houses naturally deteriorate, such as guttering/roofing.
other maintenance, even needing to upgrade bathrooms/kitchens/outside facade to stay in fashion
then there is risks of damage from weather, rebellious teens, squatters, natural disasters
then there is the municipal/utility costs and local gov taxes or HOA memberships or local parish stuff

and thats just the ongoing costs of a fully paid home thy you just lock the door and dont live in
where by if you have a mortgage, its not just the interest its also the insurance and legal costs

then.. if you do rent it out. its not pure profit. usually you have to be the repair guy to tenants damage/disrepair
usually trying to find the right amount to make returns from rentals to cover all costs and eventualities is in itself a balancing act between break even long term should tenants leave and it tasks months to find new tenant, +maybe using a management company, legal costs. plus recouping unpaid rent if tenants/squatters fail to pay vs a fair market rate to energise tenants desire to rent your property

where as investing in the stock/share/crypto market is so much more straight forward to just buy low sell high

This is not the first time someone has talked about the book and the ideas of the author. In those threads, I’ve read other members say the author made his money from writing a best seller and not from real estate businesses. I read Rich dad, Poor dad when I was in secondary school, that’s a long time ago. If I remember correctly, the message Robert Kiyosaki was trying to convey was it is better to invest in assets that give you cash flow. Investing in real estate was one of recommended strategies to make money. He also talked using debt to your advantage. The part of the book that really struck me was learning that buying a house isn’t an asset but a liability. OP, if you are not satisfied with the book, there are other financial books you can read.