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To: Sonny M

Kiosaki recommends one investment vehicle only: his books.


4 posted on 12/12/2005 11:43:43 AM PST by billybudd
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To: billybudd
Kiosaki is a con man.

I read his Rich Dad Poor Dad books. Near as I could tell, he encourages people who have no business being even near a financial statement, to make high-risk bets in things like speculative real estate. He makes it sound easy and fun.

90% of investors would be better off putting their money in lottery tickets, than dabbling in investments that they don't understand. Reminds me of the idiots that mortgaged their houses to buy Dot Coms in January of 2000, then wondered why they lost their shirts.

I do agree with Kiosaki on one thing....it *is* easy to be a millionaire, and probably one many times over, without being a financial Whiz. But, it takes a little knowledge of how to leverage tax-advantaged accounts (401k's, etc.), the common sense to invest wisely (if EVERYONE is putting money into Real Estate, you're too late), the discipline to invest at a constant rate (Dollar Cost Averaging is a powerful multiplier) and at least 20 years to accomplish your goals.

10 posted on 12/12/2005 1:51:52 PM PST by wbill
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