Re: reinvesting poker profits to avoid taxes
I'm a big fan of John Reed's work, have read that article before, and I very much sympathize with his position. Here's a guy who writes real estate books telling people exactly how it is, no bs, for better or worse, which is very much a rarity. The real estate publishing business is fraught with hacks who sell people on the idea of riches rather than realistic and practical information. Kiyosaki, as he righfully points out, is one of those.
"What is really going on is a lot of people are schlepping along doing a half-ass job of managing the financial aspects of their lives. Rich Dad Poor Dad slaps them up side the head and tells them to clean up their acts. That’s good, but the book goes on to deliver a pack of lies"
This is a quote from the article which sums up my opinion pretty well. The book is usless when it comes to purely practical content, but it does make people reexamine their financial picture and motivates them to learn more. Kiyosaki does this by selling people on the idea of easy riches but he does it nonetheless and that has value. Maybe it takes a book that captures the imagination of people a little bit in order to lead them in the right direction. Does it lead them in the right direction is the question. In my experience, yes. Everyone I've met who has read the book is better off for reading the book, or at least not worse off. But they're generally smart people who have the abiltiy to distinguish fantasy from reality.
When I first read book, I thought it was completely harmless, a nice little kick in the pants, and an introduction to the potential of real estate investment. What's worrisome to me are the people who have very strong feelings about the book and I wonder if it's leading them down the wrong path. If that's the case, and I haven't seen it, but I'd be more than happy to change my opinion.
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10-24-2006, 06:16 AM
Hybrid Mode
