kiyosaki has reached new low - unbelievable

[honobob]

So, you don't go on the Amway circuit pushing your books hoping to write one with the Donald.

I have the book but nobody wants the turtle and I ain't the bunny but at some point I might work the bunny imagination to sell the turtle.

I wonder how many turtles were inspired by the bunny?

 

[bssc]

We were all wrong. Kiyosaki was "just joking"

Of course, he now explains "the investing food chain" with broad statements like "Professional investors would rather be in a debt position -- investing with a banker's money, for instance -- simply because debt is less risky than equity." Tell Warren Buffet that.

This month's column.

 

[NinjaPigeon]

"While the piece was written in jest, Tom made valid points about why retirement plans filled with mutual funds are risky. As expected, the reader response was both positive and negative. Some people just didn't get the joke, or couldn't learn from its absurd extremism."

Um, there's NO WAY that article was written in jest. He knew exactly what message he was giving, and only after being called out for the dirty charlatan that he is did he start to backpeddle.

 

[NinjaPigeon]

I also like how he stresses that mutual funds are bad by pointing out what happens when companies go under. But he sorta forgot to mention that he was comparing a bond or stock in a single company to a basket of such things in the fund. Just a little misleading, don't ya think?

Actually, I've come to a realization. He's not lying to the general public. Rather, he actually doesn't know anything about investing. So he's telling the complete truth, but only to the depth of his knowledge.

 

[bssc]

Well, by playing up the risk side of mutual funds while ignoring the rewards, he must think that he is making the case for professional real estate investing.

 

[Bigritchie]

Well in a way I sorta agree with him, not a big fan of the market myself (I know alot of people have made a ton of money though).

I think his thinking is a little more like my own.

As in why invest, for example 100k in a mutual fund that may or may not make you cash, when you can invest that same 100k in yourself and have the potential to make massive massive returns.

For example I invested 100k in my own business when I was in my early twenties, and will barring a deal falling through, retire in 2 months or so at 30, had I invested that in a mutual fund, if I had averaged 8-9% or even possible lost money, I would not be getting ready to be a beach bum.

Of course you can loose money investing in yourself also, but I consider investing in myself a sure thing, that I can 90% control with common sense, while investing in a mutual fund is controlled gamble.

To each person his own though, there are many many paths towards the goal, and people have done well on them all, and as times change more paths will open and some may get narrower and close.

 

[jdw_fire]

Well in a way I sorta agree with him, not a big fan of the market myself (I know alot of people have made a ton of money though).

I think his thinking is a little more like my own.

As in why invest, for example 100k in a mutual fund that may or may not make you cash, when you can invest that same 100k in yourself and have the potential to make massive massive returns.

For example I invested 100k in my own business when I was in my early twenties, and will barring a deal falling through, retire in 2 months or so at 30, had I invested that in a mutual fund, if I had averaged 8-9% or even possible lost money, I would not be getting ready to be a beach bum.

Of course you can loose money investing in yourself also, but I consider investing in myself a sure thing, that I can 90% control with common sense, while investing in a mutual fund is controlled gamble.

To each person his own though, there are many many paths towards the goal, and people have done well on them all, and as times change more paths will open and some may get narrower and close.

Bigritchie, if I read your posts in another thread correctly you are retiring on a pension that is non taxable (which you will even be able to continue to save from) and any money you get from investments is gravy. What am I missing?

 

[Bigritchie]

I am just saying before I was able to even consider retirement, I invested in me, and not a fund index, and that imho you can return greater investments faster by investing in yourself. I had to fight for full disability for 6-7 years too, so I never really knew if I could depend on that.

I don't think RK's advice is for people that are already retired or well on their way, but for people who are just starting out to get them to think kinda outside the box.