Rich dad poor dad

[Condi]

No point being the richest man in the grave-yard. If you dont spend it the tax man takes 40% of it anyway, so why not spend it now, and worry about being old when you're old. By then you wont be fit and healthy enough to do half the things you always wanted to.

[dave123456]

Pulse said:

Exactly.

I have lived well within my means for a long time - all of my 20s, in fact. I've just turned 30 and I realise I have barely done anything.

I've had a few nice cars (couple of Astra VXRs, couple of Z4s, etc.), I've had a few nice holidays (Caribbean, New York, etc.), but not done enough.

Whilst it's nice to not have a mortgage, you really need to strike a balance. Getting the balance right is actually quite difficult, I think.

I agree with this. had the same car for 10 years, and whilst it was pretty cool at 18 it was on it's last legs when I was in my mid 20's.... it did, however, give me a decent financial foundation when all my mates were spending a fair chunk of their salary on HP interest.

however I do regret not doing a bit more...

the rich dad poor dad take on houses being liabilities is often misinterpreted. a house you live in is not a liability if you live in a house that is only adequately sized, you have to live somewhere so the opportunity cost of living in your own house is the rent you save not owning....you are effectively your own tenant...

I am a firm believer in living within your means, the luxury this brings me is choice...if I wish to walk out of my job tomorrow I can, and I won't drown. if people wish to sneer at the fact I don't spend 2 months salary a year on holidays then fine, but they're the same ones who squeak from their arses when things rumble in the workplace...

[bennyboydurham]

As others say, take a few key points from RDPD in isolation and they add up to some good advice. The one line I remember from it was 'poor people buy luxuries first and become poor again, rich people buy luxuries last once they have accumulated the means to remain rich.'

[to3m]

droopsnoot said:

I have read that the basic workshops place a lot of emphasis on trying to persuade attendees to sign up to more detailed, more expensive training courses. Obviously you've got to keep in mind people's tendency to only post negative experiences, though a thread on MSE that I read does have some posts from people who attended and made good use of the information.

Interesting that nowhere in his book does he suggest you should get rich by flogging seminars to people by writing books with ten pages of adverts at the back for courses, board games, mugs, pens, T-shirts and other branded items

[Condi]

bennyboydurham said:

As others say, take a few key points from RDPD in isolation and they add up to some good advice. The one line I remember from it was 'poor people buy luxuries first and become poor again, rich people buy luxuries last once they have accumulated the means to remain rich.'

By the same token, you can spend nothing and be paper rich, or you can spend the money and have a life rich in experience.

More to life than money in the bank.

[Pulse]

Condi said:

bennyboydurham said:

As others say, take a few key points from RDPD in isolation and they add up to some good advice. The one line I remember from it was 'poor people buy luxuries first and become poor again, rich people buy luxuries last once they have accumulated the means to remain rich.'

By the same token, you can spend nothing and be paper rich, or you can spend the money and have a life rich in experience.

More to life than money in the bank.

Agreed. I know that all too well.