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2019-08-13, 02:33 PM (ISO 8601)
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- Mar 2009
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2019-08-13, 02:38 PM (ISO 8601)
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- Jun 2007
Re: Robert Kiyosaki's Rich Dad poor Dad
I stand by my previously expressed point that even at such a young age, they're better off chatting with their one distant relative Rich Uncle Moneybags than a random elementary school teacher.
As I conceded though, sure, if you're a child in the poorest ghetto there is, it's possible that your solidly-middle-class-at-best elementary school teacher is the wealthiest person you have around. In that case, yes, the least bad advice around you will probably come from that teacher (the other alternatives being your friends and family).Offer good while supplies last. Two to a customer. Each item sold separately. Batteries not included. Mileage may vary. All sales are final. Allow six weeks for delivery. Some items not available. Some assembly required. Some restrictions may apply. All entries become our property. Employees not eligible. Entry fees not refundable. Local restrictions apply. Void where prohibited. Except in Indiana.
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2019-08-13, 02:53 PM (ISO 8601)
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- Mar 2009
Re: Robert Kiyosaki's Rich Dad poor Dad
Oh I would go to a rich uncle, hands down. But, I would also look around for more sources. The question is not either/or I would want as many as I can find. There are many different investment strategies.
I know lots of teachers, and the amount of wealth that some of them have coming there way is surprising. Some know stuff, others do not.
I know one where she is considered the runt of the litter, and she has a masters degree. Her parents are pretty wealthy. All her siblings are doctors and lawyers.
I know another one that seems very frugal with her money, and stands to inherit a small fortune.
I also know some teachers that are dirt poor, from families that are not wealthy.
I do not talk to a lot of people about money stuff too much, as my wife is privet about it, and these are her friends.
Now my friends I can talk to about money. Most of the time we talk about geek and nerd stuff. The days of a party or more a month were my 20's and 30's. Now many of them have kids and we have considerably less parties.
One of my teachers as a kid owned a HUGE toy store, and he eventually sold it. He drove some Porch or some such. I should have asked him a bunch of questions. Google Dispensa's castle of toys.
In the 1990's I had one high school teacher that made ~$120,000 per year. I should have asked him how he invested his money . . . he wore cloths from the 1970's.Last edited by darkrose50; 2019-08-13 at 03:00 PM.
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2019-08-13, 02:57 PM (ISO 8601)
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- Dec 2015
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2019-08-13, 03:01 PM (ISO 8601)
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- Mar 2009
Re: Robert Kiyosaki's Rich Dad poor Dad
Last edited by darkrose50; 2019-08-13 at 03:05 PM.
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2019-08-13, 03:14 PM (ISO 8601)
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- Dec 2009
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- Birmingham, AL
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Re: Robert Kiyosaki's Rich Dad poor Dad
Cuthalion's art is the prettiest art of all the art. Like my avatar.
Number of times Roland St. Jude has sworn revenge upon me: 2
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2019-08-13, 03:19 PM (ISO 8601)
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- Feb 2013
Re: Robert Kiyosaki's Rich Dad poor Dad
your solidly-middle-class-at-best
Pensions aren't much to consider any more as well. The people in charge of the union aren't any more likely to know how to manage the money, and tend to both award themselves premium salaries and make investments based on friendship. But that's part of a different conversation about how unions are defaulting on pensions and leaving the obligations to the government, which is both off topic and very political.
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2019-08-13, 03:20 PM (ISO 8601)
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- Jun 2013
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- Bristol, UK
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2019-08-14, 02:46 AM (ISO 8601)
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- Aug 2013
Re: Robert Kiyosaki's Rich Dad poor Dad
I wasn't talking about America. I was talking about a place which an American would generally dismiss as "socialist". Because taking a complex thing and putting on a deragatory one word is very American. Which I was being in that example. Hence "being American".
When I grew up business, economics and entrepenuer were almost curse words still (obviously not in America). Someone asked if there were no economics in high school to which I replied from my perspective.
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2019-08-14, 02:57 AM (ISO 8601)
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- Aug 2013
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2019-08-14, 06:31 AM (ISO 8601)
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- Mar 2010
Re: Robert Kiyosaki's Rich Dad poor Dad
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2019-08-14, 06:55 AM (ISO 8601)
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- Aug 2013
Re: Robert Kiyosaki's Rich Dad poor Dad
2d8 usually talks about not having had the opportunity to go get a fancy college degree. So it's kinda hilarious to see the opposite position brought up.
Our societies has kinda started looking down on manual labour (though that's not entirely a new thing in some senses). Eg my own country had a goal that 70% of kids would go on to get a college degree totally disregarding the notion of where they'll be meaningfully placed if at all possible. Sort of a "if we educate them enough they'll solve that question for us" kinda thing. It's probably ironic that trade types of jobs are probably less at risk from AI and bots and such than a lot of the college career paths.
Though it's not as easy as it used to be. To paraphrase some teachers from when I was young who would note some were destined for tradeschool, the problem started becoming even a practical job like a car mechanic becomes more of hook up computer and push buttons job.
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2019-08-14, 07:24 AM (ISO 8601)
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- Mar 2009
Re: Robert Kiyosaki's Rich Dad poor Dad
I have several friends who were hired after giving them pointers. They do pretty well. Like a lot of jobs and/or workplaces there are plenty of unspoken rules and expectations. They will teach you to do X, but really want you to do Y (or Y is much more effective). There are tips on how to phase things, how to bring up a concept as not to confuse or panic someone, and likely the biggest one that was hard for me was ending conversations with people wasting my time . . . any of my time (different standards depending on the seasons). There are many different types of time sucking callers. The ones that want to recreate the chart over the phone that they can download online (this is a pet peeve of mine). The ones not buying anything that want to call sales, not customer service, and use us as a dictionary (literally just Google it). The ones that want to talk about getting a plan and pricing for a plan that we do not even have yet (how is it confusing that we do not have the plans yet). The most obnoxious ones want to take 15-45 minutes thinking over a plan while on the phone with an agent . . . I just tell them to think about it and call me back (when it is busy this makes a huge difference . . . that would effect your sales, and cause you not to get hired). A close second would be the folks that want to tell you there long story about why they are calling, and do not want to answer 2-6 quick yes/no questions (can't I just babble on incoherently about why I am calling? It is like 95% likely that you are not the person I want to talk to, but let me babble on and on and on).
There are a lot of pointers that they do not teach you. Quirks about the various programs are pretty big. The government program is a nightmare of time sucking hell.Last edited by darkrose50; 2019-08-14 at 09:55 AM.
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2019-08-14, 07:24 AM (ISO 8601)
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- Mar 2007
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- Grognardia
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Re: Robert Kiyosaki's Rich Dad poor Dad
The other thing to consider about professional/tradespeople is that they make decent money AND they don't have the same social pressure to look prosperous. I've worked for doctors, and they spend a LOT of money to look like they have a lot of money, because doctors who don't look rich don't get new patients.
A plumber making $100k a year and spending $20k is richer than a doctor making $300k a year and pending $250k.(Avatar by Cuthalion, who is great.)
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2019-08-14, 07:29 AM (ISO 8601)
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- Mar 2009
Re: Robert Kiyosaki's Rich Dad poor Dad
I think that this is one reason why teachers end up with so much money. No one expects a teacher to drive a fancy car, or wear fancy clothing. In fact doing so can be counterproductive, and hurt the students. Teachers just have so many contributing factors that help them as a population to become wealthy.
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The problem with only talking to the richest person you know, is that is not the best way to get rich for everyone.
The richest people I know are likely an engineer married to an actuary. Both likely make six figures or more each. Their success is not replicable. Not everyone is a math wizard.
I know an engineer who works on TVs (a friend's dad), he holds some TV patents, he talked at a local college to a standing-room-only crowd of engineering students . . . in an auditorium. Come to think of it he could likely be the richest person that I know. This success is not replicable, not really, not everyone can fill a standing-room-only auditorium full of engineering students. That is rock-star level mojo.
Now is the advice of someone with $100,000 who earns a 10% return in the stock market more useful, or is the advise of someone with $200,000 who earns 8% per year more useful? I would say the 10%, but I would ask them both. They could have differing approaches, strategies, and insights.Last edited by darkrose50; 2019-08-14 at 08:00 AM.
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2019-08-14, 07:55 AM (ISO 8601)
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- Aug 2013
Re: Robert Kiyosaki's Rich Dad poor Dad
America is a weird place.
Here you are less likely to be wealthy if you drive around in a flashy car. Most people in an Audi are 20-30somethings who blew all their paychecks and quite a few future one getting an expensive car. Most of them are working middleclass jobs. It's also a type of behaviour which I've seen refered to as "acting like new money" an idea which does support the idea of the "idea of generational wealth".
I'm not sure we can point to it as correlated to jobs. During the "crazy years" of 1980s it was very important to appear with right labels in school. Whether you could afford or not. A specific, outright expressed exception by the "cool kids" was made for me (who only wore mailorder moderately priced clothes) because all the kids knew that my dad as doctor earned quite well and starting a thing about whose parent's earned more wasn't gonna end up well for them. It was just how the times were then. A lot of people were living beyond their means it turned out when the 80s bubble burst. Some of them high wage-earners like one of my dad's colleagues (having a high-education and a good job not always correlating with money sense). Ofc having a well-paid job (in a field not as easily downsized) also meant said person could bounce back much more readily than most others when their investments turned out to be more air than anything else.
Besides, when you go to a hospital how do know what the doctor in a white coat exactly like the ones all the other doctors wear drove there in an expensive car and has an expensive suit tucked away in his locker?
Not that expert are always to be trusted either. Since I enjoy providing anecdotes, when I started at business school at university we visited an investment firm who recommended us all to borrow as much as we could with them. Anyone who woulda taken them up on the advice woulda been badly burnt by the dot.com bust and 2001 crash. Ofc what you should have done was buy a partnership in their firm cashing out with them when they sold at a inflated price to Icelandic bankers and later bought back the business for cents on the dollar.
Ironically another example of doing the thing the rich actually do. Not doing what the rich say they do.
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2019-08-14, 08:04 AM (ISO 8601)
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- Mar 2009
Re: Robert Kiyosaki's Rich Dad poor Dad
I have a cousin who lived in the biggest fanciest house, had the expensive clothing, went bankrupt, and now lives in the biggest fanciest house, and wears the most expensive clothing . . ..
This is not how to get wealthy. You live below your means, save, and invest (S&P 500, don't touch it for 10-30 years, done).Last edited by darkrose50; 2019-08-14 at 08:13 AM.
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2019-08-14, 09:04 AM (ISO 8601)
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- Dec 2015
Re: Robert Kiyosaki's Rich Dad poor Dad
Thanks for the clarification.
Not to speak for them, but I'm sure it was in the back of darkrose50's mind. In their last 'want to be wealthy, be/marry a teacher' thread, he (2d8) and I were the ones to out themselves as worth 1 mil+, and his is a great tradesperson example. Lovely tale.
I work with doctors, lawyers, software engineers, and run-of-the-mill corporate types. The IT guys definitely have the option of spending the least money, although they also seem to love their expensive toys.Last edited by Willie the Duck; 2019-08-14 at 09:11 AM.
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2019-08-14, 09:39 AM (ISO 8601)
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- Mar 2009
Re: Robert Kiyosaki's Rich Dad poor Dad
I buy chocolate at Macy's sometimes. I have a friend that works with me. He is quite smart, likely one of the smartest folks I know (but is horrible with money). He was worried about being kicked out of Macy's for looking like a bum (he did not shave for about a week, had on warn jeans and a worn t-shirt), and I told him that folks would just think that he was in IT.
Evidently the NSA has a lot of hippy-looking computer hackers walking around, and this is starkly contrasted by folks in suits walking around. If you are a computer super-nerd, then you can pull that stuff off.
I wish I was nerd-enough, but I think that my geek level far outclasses my nerd level.Last edited by darkrose50; 2019-08-14 at 09:49 AM.
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2019-08-14, 10:50 AM (ISO 8601)
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- Jun 2007
Re: Robert Kiyosaki's Rich Dad poor Dad
Sure, but that's totally "moving the goalposts". Everyone's path to wealth is different and involved opportunity and luck and being at the right place at the right time.
If you're looking for replicable advice (new goalposts), then that's very limited and very generic. In fact, here you go:
Option 1: find a totally blighted neighborhood that's "the next Brooklyn" and buy several properties there for next to nothing.
Option 2: find extremely undervalued stock that's about to skyrocket in value and buy a lot of it.
Option 3: buy a lottery ticket with the correct numbers on it.
Option 4: marry someone who's already extremely wealthy.Offer good while supplies last. Two to a customer. Each item sold separately. Batteries not included. Mileage may vary. All sales are final. Allow six weeks for delivery. Some items not available. Some assembly required. Some restrictions may apply. All entries become our property. Employees not eligible. Entry fees not refundable. Local restrictions apply. Void where prohibited. Except in Indiana.
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2019-08-14, 11:41 AM (ISO 8601)
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- Mar 2009
Re: Robert Kiyosaki's Rich Dad poor Dad
My goalpost would be "How can I invest and make a profit by doing nothing". Your goalpost might be different. Basically my outlook is to save, invest, and expect not to touch the money for 10-30 years. In the stock market I invest in a sector fund or in an S&P 500 fund. Never sell it if the market tanks. Seriously, you want to buy into the market after it tanks. If the market tanks, then I will be putting as much as I can into that market! No more ordering out or vacations, just saving and investing. Companies make money, and owning a part of the economy is profitable. This will be true even if the economy tanks, and the economy will recover sooner or later . . . likely well within 10-30 years. Even if the dollar becomes worthless, stocks in profitable companies will be valuable. Stocks (via indexed mutual funds) seem like a pretty good deal to help ward off inflation, or an economic collapse.
Last edited by darkrose50; 2019-08-14 at 11:47 AM.
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2019-08-14, 11:46 AM (ISO 8601)
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- Sep 2014
Re: Robert Kiyosaki's Rich Dad poor Dad
That's not what goalposts mean in this application. The term "moving the goalposts" is an informal fallacy in logic where by a person presents conditions, evidence or prerequisites that must be met and once they're met, changes the conditions to render the previous attempt ineligible. Not like...a goal for you to work to.
Last edited by Razade; 2019-08-14 at 11:46 AM.
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2019-08-14, 11:51 AM (ISO 8601)
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- Mar 2009
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2019-08-14, 12:24 PM (ISO 8601)
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- Feb 2013
Re: Robert Kiyosaki's Rich Dad poor Dad
Honestly, at this point I'm not sure. I think we have 4-5 different ones swirling about. Might be a good time to say Good Game, See You Next Time and go discuss the new strip for a while.
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2019-08-14, 04:52 PM (ISO 8601)
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- Jul 2011
Re: Robert Kiyosaki's Rich Dad poor Dad
I think the problem is when people who are seeing trades as an alternative view it as something people that are not skilled enough to do other types of work do. Whereas trades intend involve different sets of skills than other kinds of work but they do involve skills. There are people who would be not as good at my job as I am because they don't have the skill set for it the same as with any other job. So when people are advising people to go into the trades they should always be careful to make sure that it's actually a good fit for the person and that they're not just thinking that either tradespeople may or may not be true depending on what their specialty is how hard they're willing to work how much they're willing to travel people make bundles of money, which may or may not be true depending on what their specialty is, or if they're willing to travel for their work. For a lot of freight where do you have to be really willing to get up and travel you have to be willing to work long hours sometimes very little notice there are a lot of hardships that are not present in most standard office jobs that you have with the trades and if you can't deal with them then you're not going to be making bundles of money at all.
Last edited by AMFV; 2019-08-14 at 04:52 PM.
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2019-08-14, 04:59 PM (ISO 8601)
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- Jul 2011
Re: Robert Kiyosaki's Rich Dad poor Dad
I hate to interrupt you here guy but you are way off base, like yeah the doctor might have a nicer house but I bet you that the plumbers $70,000 dually truck is a lot more expensive than whatever the doctor is driving most likely. The thing is that trades people tend to Value different things and so they spend money on things that are not the same as the doctor would. So they might not look prosperous to you because they don't spend a lot of money on light clothes typically but I bet you they spent a lot of money on random pools I spent a lot of money on truck they spent a lot of money on camping trips and hunting and barbecue equipment for a lot of them. They spent a lot of money on beer and alcohol. So the plumber clearing that hundred thousand which is actually more than I've ever heard of a plumber clearing I mean it's possible in California or New York but eighty or ninety thousand is much more likely in most places as you're expected top end as a plumber and give me doing that you have to be doing a crap ton of overtime and doing all kinds of travel and all kinds of other stuff in a lot of dudes just aren't willing to do that, but they're going to spend the same amount of money is that doctor they're just going to spend it on different things than the doctor would.
My Avatar is Glimtwizzle, a Gnomish Fighter/Illusionist by Cuthalion.
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2019-08-14, 05:03 PM (ISO 8601)
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- Feb 2013
Re: Robert Kiyosaki's Rich Dad poor Dad
A doctor's BMW is a personal status symbol that will sit idly most of the year.
A tradesman's vehicle is a business property granting depreciation on their taxes.
Also, you seem to have odd ideas about how tradesmen live their lives.
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2019-08-14, 05:20 PM (ISO 8601)
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- Jul 2011
Re: Robert Kiyosaki's Rich Dad poor Dad
I am a construction Carpenter, in a union, I went to school for welding. I bet I know a lot more people in the trades than you. And yeah and oil rig welder might need a dually truck, but it apprentice plumber or a plumber probably doesn't. It's just a status symbol it's the same as the doctors BMW. I know a lot of people who are blue collar workers who spend money pretty frivolous, I'm not talking down about them I'm just telling you that people who are in that kind of world have their own little crap that they spend money on that's not really worth it. Although I might be worth it to them depends, but again I am in the trades I work with other people in the same I bet I know more people that are in those kind of feels in you do and a lot of them have trucks that are way more truck today need. Heck, I have a truck that's way more truck then I need.
My Avatar is Glimtwizzle, a Gnomish Fighter/Illusionist by Cuthalion.
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2019-08-14, 08:35 PM (ISO 8601)
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- Sep 2014
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2019-08-14, 10:29 PM (ISO 8601)
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- Feb 2013
Re: Robert Kiyosaki's Rich Dad poor Dad
I spend most of my work week out with the lower end of the economic spectrum. Duallys aren't unheard of, but I see far more of them with white collar types who want to pretend to be macho. The actual tradesmen are driving either a F150 or Ram a few years old, or more lately crossovers. They don't go camping; they go to one or maybe two Vikings games a year. Hunting and fishing, yes, but that is not expensive by any means. Ditto softball and hardball leagues.
And then there's the drinking, where you're dead on. And also where I keep coming in.