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this post was submitted on 03 Jan 2024
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Despite the "get rich quicker" mentality,Kiyosaki's books were revolutionary for me. They basically taught me that it's impossible for the working class to get rich. You need to invest in either a business or real estate.
The missing part is that it's practically impossible to invest in a business or real estate. You need vast amounts of capital or a loan with nearly zero interest. Oh and the ruling class has been sucking us dry for decades.
Still, his books are very valuable knowledge.
The part is greatly disliked about his books is how he glosses over the fact that he had a TON of resources at his disposal. A father figure that's already in business, that tutored him specifically, gave him many connections in the business world, and also let him sit in on business meetings for nearly a decade. The man had more exposure, teaching, and connections than most business majors before he even set foot into the business world.
For a normal person that would take years of schooling and a really tough time making those connections and is an entirely unrealistic comparison.
TL;DR You are right, basically impossible for a normal person to achieve because the resources at his disposal.
There was a video I watched recently about how "this self taught developer did it the right way, follow his idea!"
He already worked in a high paying job that gave him the opportunity to design something for them and then they let him attend meetings to learn as much as possible from consultants they hired...
Ffs yeah if you start on 3rd base getting home isn't the hardest thing to do...
It depends on the type of investing you want to do. The working class can absolutely invest in ETFs at varying risk profiles and build a retirement. They can't drop $100k on an online startup and hope it explodes. They can invest in starting their own business.
It's really hard to go from thousandaire to billionaire, but you can absolutely hit millionaire.
Small investments that won’t grow very large, and all while struggling.
Most fail. It’s usually a poor investment.
You are so pointlessly negative. What they said is true. Those are the most common avenues for middle class to move classes.
I would call it realistic instead of negative.
Yeah, you can get rich through ETFs but it's incredibly unlikely.
It's incredibly likely that continously saving and investing for 30 years creates a decent retirement account.
Yes and highly recommended if you have the money to do so, but it's not going to make you rich, and it's certainly not going to pull you out of poverty.
That's great but it's also not really what most people would think of when someone is rich
No, it’s blaming poor people for being poor.
He blocked me on facebook because I called him out for being a grifting motivational speaker.
I feel like you'd get the same response from any sane person...
Right, but I wouldn't call just any sane person a grifting motivational speaker. He in fact is one though.
Nice. Almost makes me want to make a FB account
My wife is from a developing country so we invest through her family. I doubt we will ever be rich from it but it does add up. Obviously not an option for everyone but if it is for you might want to look into it.