I think Kiyosaki is a fraud. Here's a pretty devastating review of him.
I actually enjoyed Rich dad, poor dad though nowadays I'd rather recommend other books. I didn't know anything about personal finance and the message that I should spend on income-generating assets instead of status symbols like a big house made something click and helped me change the way I thought about money.I think Kiyosaki is a fraud. Here's a pretty devastating review of him.
I actually enjoyed Rich dad, poor dad though nowadays I'd rather recommend other books. I didn't know anything about personal finance and the message that I should spend on income-generating assets instead of status symbols like a big house made something click and helped me change the way I thought about money.
Sure, not all his advice is good. But I've never understood the people who are angry because "rich dad" may never have existed. After all it's a book about personal finance, the story is just there to help explain things. Next thing they'll get all worked up because the Richest man in Babylon wasn't really the richest man in Babylon.
I always wondered why Reed wanted to dedicate his life to destroying Kiyosaki. But now I've noticed his anger isn't limited to Kiyosaki. Apparently he's on a mission to rid the earth of crappy real estate advice.
I think Kiyosaki is a fraud. Here's a pretty devastating review of him.
I used to joke about selling all my stuff and house and living in an RV or single wide for a few years. Imagine all the $ I could bank. Heck, maybe I'll try it. I'm sure my DD who is 4 wouldn't mind.
I'll give you frugal: a relative of mine is on SS. His former wife, a professional with substantial income, ran a tab on the family which she hid for years - essentially exhausting the household assets. After the divorce their teen son stayed with him and they lived in income restricted apartment in a nice neighborhood while he straightened out his finances. Son went off to college on a scholarship (maintaining it with a near 4. GPA) and he started searching for a studio condo. He found one, with parking, in a very nice building which he could buy for cash... for ~$145,000, including updating and decorating. He spends, max, $6,000 a year for living expenses.. heat, water, garbage, property taxes, facility maintenance, laundry, high speed inter-net, Comcast. A Veteran, he uses VA health care. He purchased a quality, efficient, used car. He probably could have found a "cheaper" studio but the location is great, it is in a walk-able neighborhood, and the HOA managed for the long term.
He actually has a very high standard of living. Moving to a studio means that he doesn't bring anything home that isn't necessary and doesn't accumulate 'stuff'.
I'll give you frugal: a relative of mine is on SS. His former wife, a professional with substantial income, ran a tab on the family which she hid for years - essentially exhausting the household assets. After the divorce their teen son stayed with him and they lived in income restricted apartment in a nice neighborhood while he straightened out his finances. Son went off to college on a scholarship (maintaining it with a near 4. GPA) and he started searching for a studio condo. He found one, with parking, in a very nice building which he could buy for cash... for ~$145,000, including updating and decorating. He spends, max, $6,000 a year for living expenses.. heat, water, garbage, property taxes, facility maintenance, laundry, high speed inter-net, Comcast. A Veteran, he uses VA health care. He purchased a quality, efficient, used car. He probably could have found a "cheaper" studio but the location is great, it is in a walk-able neighborhood, and the HOA managed for the long term.
He actually has a very high standard of living. Moving to a studio means that he doesn't bring anything home that isn't necessary and doesn't accumulate 'stuff'.
There is no way that I could live on 6k/year even with a paid of condo. Just property taxes plus association assesments cost me $5772 per annum alone.
You could if you moved to a cheaper place to live. There is always a way.
That's a bit redundant isn't it?Take along a retired, irascible, architect...
That may be what she means-$6000 in housing associated costs.There is no way that I could live on 6k/year even with a paid of condo. Just property taxes plus association assesments cost me $5772 per annum alone.
Yes, I meant $6,000 in housing associated costs.
Neither of us would do exactly the same as Jacob, but it was great food for thought and gave us some interesting ideas.
My two under 6 kids would probably be thrilled with a fulltime RV lifestyle. Homeschooling would be a drag, though.