Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: Help me save yahoo finance...
Old 10-19-2005, 08:34 AM   #41
Thinks s/he gets paid by the post
wildcat's Avatar
 
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
Re: Help me save yahoo finance...

I would buy a book called "Uncle Mickisms" by UM2.* Full of his best posts from the ER homepage.

I missed the Oprah vs. Bach (?) showdown...can someone fill me in? Who is Bach?
__________________

__________________
"These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"
wildcat is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Help me save yahoo finance...
Old 10-19-2005, 09:34 AM   #42
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Help me save yahoo finance...

Quote:
Originally Posted by usc_et


If someone wrote a compelling book about the value of variable annuities and whole life insurance, many would disagree. If this writer somehow captured the imagination of millions and became a bestseller, would he be a scam artist? If he directed the readers to a website where those products were sold by him for exorbitant commissions, then perhaps yes. If the author wrote a follow up book which became a best seller, then some tapes which were widely sold, and did seminars for packed houses, not a scam artist. Just a very good marketer with a disagreeable message.
I think $200 for the Cashflow 101 board game is exorbitant. Go to his site richdad.com and see if you think he charges exorbitant prices.
__________________

__________________
justin is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 10:21 AM   #43
Thinks s/he gets paid by the post
 
Join Date: Jun 2004
Location: No. California
Posts: 1,600
Re: Help me save yahoo finance...

Wildcat.

David Bach is a writer/speaker who promotes savings. He was on Oprah with his Automatic Millionaire book a year or two ago. He is the one that coined a phrase about the latte factor costing people so much money. If they looked at how much they spent on coffee and skipped buying coffee and started saving that amount, they could really turn their finances around.

http://www.finishrichmedia.com/books...ectionhome.php
__________________
KB is online now   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 01:02 PM   #44
Dryer sheet aficionado
 
Join Date: Aug 2005
Posts: 25
Re: Help me save yahoo finance...

Quote:
Originally Posted by justin
I think $200 for the Cashflow 101 board game is exorbitant. Go to his site richdad.com and see if you think he charges exorbitant prices.
Good point, and I think Kiyosaki is in a gray area. But I still believe that the difference is that people knowingly and willingly pay for his stuff. Whether you agree with it, think it's crap, or think it's fine for motivation not information, he still needs people to open their wallets and hand over the credit card (surely, they're not using cash).

On David Bach's website listed above by KB, he offers a series of CDs for $100, Seminars and coaching programs without prices listed. Now, by no means to I think David Bach is a scam, and by other's comments, it doesn't sound like others think so either. However, using your book to guide people to a website to sell more merchandise does not in itself make it a scam.

I would never buy the Rich Dad board game. Not for $29.95, and definitely not for $200. That's insane. But people do, and do so willingly. I would also never pay $250 for a portable playstation, or ipod nano, but that is the going rate.

If he is making promises that he doesn't, can't or never intended on delivering on, that's a scam. He makes success in business and real estate sound far easier than it is, but is he promising anything?

I think there are three different categories here, and we are not seeing them all. An author/marketer may be Positive Value: Bernstein, Bach, whomever else you like; Negative Value: Remember Tom Vu? Barry Minkow of ZZZZ Best, Enron's Lay and Skilling; and there is No Value: Kiyosaki, Carleton Sheets, Suze Orman.
__________________
usc_et is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 01:18 PM   #45
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: Help me save yahoo finance...

OK, I've decided to become an investment guru. * Here's my 10-step plan to becoming a wabillionaire by age 40.

1) Go to college. * Learn whatever you want, but take an econ class and an entrepreneurship class if offered. * If you don't have a passion, develop one.

2) As soon as you get out of school, get a job. * Preferably a job with a pension plan. * The value of a pension is often dismissed, but you should estimate its value as 25 times whatever income it provides. * That's a lot.

3) Work for 8-10 years. * Being an employee sucks, but you need to suck whatever you can out of your employment. * Learn what makes the business tick. *Vest in the pension plan if they have one, otherwise job hop to maximize your salary.

4) While you're working, save like mad. * Max out all of your savings plan, and save some more. * LBYM. * Don't worry about where you invest. * The money you save during this period will dwarf your investment returns, but try to keep it simple.

5) OK, now you are 30 years old or so. * You've accumulated a nice nest egg, but you're not rich. * You have lots of business experience, and perhaps a small pension to boot. * You are almost wise. * Time to shift into calculated risk mode.

6) Quit your job. *Start a business. * You have domain knowledge -- use it. * You have a passion -- follow it. * *Allocate up to 20% of your own capital to the business and borrow or beg the rest.

7) If the business doesn't take off in 2 years, abort. * Sell it if there are any assets. * And start another one. *Continue this cycle until your either succeed or hit the age 35.

8 ) OK, you are age 35 now. * You are either well on your way to being a wabillionaire, or just have spent up to 50% of your assets as tuition for the school of hard knocks. * If the latter, go back to work and stick with the pension, LBYM, and index investing. * You probably won't be rich by 40, but you'll be better off than most people.

9) If you've made it in your business, time to diversify for some hypergrowth and asset protection. * Buy a duplex or apartment building, live in one unit, and rent out the rest. * If after a while you decide you don't like being a landlord, sell, and buy a single-family property instead. * Let it simmer for 5 years.

10) OK, now you are 40. * You are wise, you have a pension, you own real estate, and you might have a sucessful business. * Keep at it if you want, or start selling off assets, wind things down, and head to Fiji.
__________________
wabmester is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 01:48 PM   #46
Dryer sheet aficionado
 
Join Date: Aug 2005
Posts: 25
Re: Help me save yahoo finance...

Beautiful. Turn this post into 250 pages, put it on tape in 20 languages, go on a speaking tour, and you're the next Kiyosaki/Orman/Sheets.
__________________
usc_et is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 02:08 PM   #47
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: Help me save yahoo finance...

Thanks.* *And please check out the videos and t-shirts in the lobby on your way out.

Each step in my plan requires a book and video.* *And, did I tell you about my upcoming 10-step Wab Diet plan?

You too can become a Wabillionaire.* *I guarantee it! (*)





(*) Hey, Binky, did you know that wabillion isn't a real number?* *So, what exactly do you think I'm guaranteeing here?
__________________
wabmester is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 02:13 PM   #48
Thinks s/he gets paid by the post
 
Join Date: Jun 2005
Posts: 4,005
Re: Help me save yahoo finance...

Quote:
Originally Posted by usc_et
Beautiful. Turn this post into 250 pages, put it on tape in 20 languages, go on a speaking tour, and you're the next Kiyosaki/Orman/Sheets.
Remove 5 out of the ten steps above (so it is nearly impossible to follow), then do the above and you have Kiyosaki/Sheets.
__________________
justin is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 02:21 PM   #49
Thinks s/he gets paid by the post
 
Join Date: Feb 2003
Location: Mesa
Posts: 3,588
Re: Help me save yahoo finance...

wab, I hate to be the one that tells you . . . but you'll never make anything on this plan. You fail to make the process sound trivial and easy. People aren't going to buy into a get rich scheme that sounds like work. It needs to be more promise, more incomprehensible, and sound less like work. It should sound so easy to do that the average moron thinks they can do it.

For a small fee and a percentage of the proceeds, I would be willing to edit and re-package your plan.
__________________
sgeeeee is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 02:32 PM   #50
Dryer sheet aficionado
 
Join Date: Aug 2005
Posts: 25
Re: Help me save yahoo finance...

Yea, unfortunately, you lose your best customers before you even get through #1, "Go to college."

Oops, too much work.
__________________
usc_et is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 02:37 PM   #51
Thinks s/he gets paid by the post
wildcat's Avatar
 
Join Date: Feb 2005
Location: Lou-evil
Posts: 2,025
Re: Help me save yahoo finance...

I think 1-2 should be one book and etc.* Can't give away all of those "secrets" in one book.* C'mon Wab..be a pig, be a pig, be a pig!

edit -
Quote:
Each step in my plan requires a book and video.
OK that's better
__________________
"These walls are kind of funny. First you hate 'em, then you get used to 'em. Enough time passes, gets so you depend on them"
wildcat is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 02:39 PM   #52
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: Help me save yahoo finance...

Quote:
Yea, unfortunately, you lose your best customers before you even get through #1, "Go to college."

Oops, too much work.
Ah, but I nail that demographic with my 10-step plan to Pimpin' and Bling-Bling.

1) Find a crack-smokin' ho....
__________________
wabmester is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 02:47 PM   #53
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Re: Help me save yahoo finance...

Quote:
Originally Posted by wab


Ah, but I nail that demographic with my 10-step plan to Pimpin' and Bling-Bling.

1) Find a crack-smokin' ho....
2)Slang some rock and blow...

"It's not drug dealing, it's multi-level marketing!"
__________________
laurence is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 02:48 PM   #54
 
Posts: n/a
Re: Help me save yahoo finance...

Quote:
Originally Posted by wab
OK, I've decided to become an investment guru. * Here's my 10-step plan to becoming a wabillionaire by age 40.

1) Go to college. * Learn whatever you want, but take an econ class and an entrepreneurship class if offered. * If you don't have a passion, develop one.

2) As soon as you get out of school, get a job. * Preferably a job with a pension plan. * The value of a pension is often dismissed, but you should estimate its value as 25 times whatever income it provides. * That's a lot.

3) Work for 8-10 years. * Being an employee sucks, but you need to suck whatever you can out of your employment. * Learn what makes the business tick. *Vest in the pension plan if they have one, otherwise job hop to maximize your salary.

4) While you're working, save like mad. * Max out all of your savings plan, and save some more. * LBYM. * Don't worry about where you invest. * The money you save during this period will dwarf your investment returns, but try to keep it simple.

5) OK, now you are 30 years old or so. * You've accumulated a nice nest egg, but you're not rich. * You have lots of business experience, and perhaps a small pension to boot. * You are almost wise. * Time to shift into calculated risk mode.

6) Quit your job. *Start a business. * You have domain knowledge -- use it. * You have a passion -- follow it. * *Allocate up to 20% of your own capital to the business and borrow or beg the rest.

7) If the business doesn't take off in 2 years, abort. * Sell it if there are any assets. * And start another one. *Continue this cycle until your either succeed or hit the age 35.

8 ) OK, you are age 35 now. * You are either well on your way to being a wabillionaire, or just have spent up to 50% of your assets as tuition for the school of hard knocks. * If the latter, go back to work and stick with the pension, LBYM, and index investing. * You probably won't be rich by 40, but you'll be better off than most people.

9) If you've made it in your business, time to diversify for some hypergrowth and asset protection. * Buy a duplex or apartment building, live in one unit, and rent out the rest. * If after a while you decide you don't like being a landlord, sell, and buy a single-family property instead. * Let it simmer for 5 years.

10) OK, now you are 40. * You are wise, you have a pension, you own real estate, and you might have a sucessful business. * Keep at it if you want, or start selling off assets, wind things down, and head to Fiji.
excellent wab, are you following your own advice or am i gonna have buy your CD to support your dreams.... *all finance guru guys make money selling books and tapes. if i spend $12 on a book and learned 1 or 2 valuable idea. that's worth the money to me. people pay upto $40,000/year for college education and after 4 years *some of them came back home and live with MOM... heck $12 buck is cheap for 1 "good" advice. and eventhough i agree with you that 98% of the guru's talk are trash.

but i do get a lot of free advice from this site. thanks to you all


__________________
  Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 03:50 PM   #55
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Re: Help me save yahoo finance...

Quote:
Originally Posted by wab
Ah, but I nail that demographic...
This reminds me of Jim Carrey playing a country hick (yeah, there's a stretch) on "In Living Color":

"I'm halfway to being a billionaire on Joe's 'Quick & Easy Two-Step Lottery Plan'-- win a billion dollars and never work again! Why, this morning I done quit my job, and now I cain't wait to win the lottery!!"
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 04:37 PM   #56
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Re: Help me save yahoo finance...

Eddie Murphy already did "Be a Ho" (from SNL).
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 04:47 PM   #57
Dryer sheet aficionado
 
Join Date: Oct 2005
Posts: 45
Re: Help me save yahoo finance...

Quote:
Originally Posted by wildcat
I would buy a book called "Uncle Mickisms" by UM2.* Full of his best posts from the ER homepage.

I missed the Oprah vs. Bach (?) showdown...can someone fill me in?* Who is Bach?
David Bach is great! Besides "Automatic Millionaire" he also wrote "Smart Women Finish Rich" and a few others. I've read both of these and now I'm on my way to FIRE! I find his writing easy to understand and most of all motivational. Really the only difference between people who retire with $$ and those who don't is the way they think. He and Suze Orman just click with me. They have changed my thinking about money. Now, saving for retirement, house, and paying off debt is not a chore and quite fun .
__________________
yAyA is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 05:18 PM   #58
 
Posts: n/a
Re: Help me save yahoo finance...

Quote:
Suze Orman just click with me. They have changed my thinking about money. Now, saving for retirement, house, and paying off debt is not a chore and quite fun .
You know Suze Orman used to be a stockbroker. I'm sure she skimmed made a lot of commissions off the unknownings portfolios.

She had some basic good advice, except advoiding folks like her. When I saw her on TV encouraging people to borrow money for Chevy Trucks the word Whore hypocrite kept popping in my mind.

IMHO she's not as sleazy as Kiosaki (sp), but she's a close second.
__________________
  Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 06:15 PM   #59
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Re: Help me save yahoo finance...

Wasn't that terrible? Lock and roll, I remember was the phrase. I don't even remember what the deal was, I just remember it was hardly a deal, something like, "if you pay us interest for six years on a bucket of pig iron, we'll let you get a terrible trade in value and start another six years of interest payments all over again!". :P
__________________
laurence is offline   Reply With Quote
Re: Help me save yahoo finance...
Old 10-19-2005, 06:19 PM   #60
Thinks s/he gets paid by the post
 
Join Date: Dec 2002
Posts: 3,875
Re: Help me save yahoo finance...

Quote:
Originally Posted by Cut-Throat

IMHO she's not as sleazy as Kiosaki (sp), but she's a close second.
I agree. *I would add that she is also stupid, except she is making a lot
of money with her particular schtick, so I guess I might be wrong about that.

JG
__________________

__________________
MRGALT2U is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
What would you teach in Intro to Personal Finance? Peaceful_Warrior Other topics 18 04-24-2007 12:11 PM
Did you continue to save in retirement? JustCurious FIRE and Money 17 04-17-2007 09:18 AM
Yahoo "Finance Quiz" Walker101 FIRE and Money 242 06-15-2004 11:56 AM

 

 
All times are GMT -6. The time now is 06:35 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.