I read this article about a survey on Filipinos-my fellow countrymen- about retirement. Most agree to start retirement plan when they are 30, which the financial advisor agree is appropriate. Then a question about investment vehicles. Then a comment about financial people actually do not have retirement of their own. Simply, DO NOT WALK THE TALK. The summary, they know it's important but they don't do it.
I guess I'm just lucky I bought the "WHY WE WANT YOU TO BE RICH" book earlier than when I reach 30. Only it's 3 years. I hope that is sufficient head start.
When I just started working here in Manila all I wanted was comfort and a bit of leisure. I bought my own tv set and a dvd. Then a ps2. A typical rat race, while income is increasing so is expenses.
Fortunately, I didn't follow my colleagues who were addicted to laptops and psp's. I was contented in ps2 and was thinking of doing business occasionally.
Then one day, I went to national bookstore to look for a small book that I want to read. Just any book. I came across this book. I saw Donald Trump. Then I saw Robert Kiyosaki. Robert who....? Ow, the author of rich dad poor dad. Yeah I heard that book from Forever Living.
And so my journey to financial freedom begins.
7 comments:
"--- You are so right.You have to start young unlike a jerk as I am at
54 with absolutely nothing to say I have saved..I rent and do not own
a home (Never had the cash down which until recently was a requisite)
and so I am in a lurch..I will be one of them old poor bastards.
Thanks for posting."
"Brian Newt"
It's never too late. You know the founder of KFC? He started at 66.
"Actually, he had several businesses, one a restaurant, that went
bust. What spurred the development of the KFC cooking process and
marketing was the freeway took all his business away. But he never
said, I'm to old to start over.
For me, that's the message to remember.
---"Cathi" "
Yep, I couldn't agree more. You're never too old, you're never too young. If you're not a business person, it's good to do or get a job that you love doing.
"Colonel Sanders was so successful, he continued working after he died.
Top THAT.
-markwpetty at yahoo dot com "
Yep there are a lot of KFC around.
Hi Ludwig. Great posts!
Raph Mercado
"Me too. That's why I tell my two daughters all the time, don't make
the same mistakes I made. Do something about your future while
you're young. Don't fall into the "oh...that's a long way off"
crap. Because it's not.
But it's okay. The novel I have in me just waiting to be put onto
paper is going to make me a millionaire. ;)
-Robin"
Good for you.
Any comment on the following criticism and controversy:
Kiyosaki's books and teachings have been criticized for focusing on anecdotes and containing little in the way of concrete advice on how readers should proceed.
Kiyosaki responds that his material is meant to be more of a motivational tool to get readers thinking about money, rather than a step by step guide to wealth. He also says the books are supposed to be "interesting" to people, which precludes involving a lot of technical material.
There is also disagreement over how blurred the line is between fiction and anecdote in many of his works. Critics believe that Rich Dad is fictional and that Kiyosaki created him as an author surrogate (a literary device). In the past, Kiyosaki has maintained that Rich Dad actually existed, but that he died decades before the book was first published. However, he has never revealed his name or any other identifying information. Attempts by outsiders to determine Rich Dad's identity have not revealed a conclusive candidate, despite the prominence such a wealthy individual would likely have had in Hawaii in the 1950s. However, in page 25 of "Why we want you to be rich", the book he co-authored with Donald Trump, Kiyosaki positively asserts that Rich Dad really existed.
Former real estate investor and author of books on real estate investment John T. Reed has questioned much of what Kiyosaki has claimed to have achieved. According to Reed, much of Kiyosaki's advice is illegal, makes no sense or is the product of "a rather ignorant, not very bright, novice, investor wannabe".
He concludes his criticism, saying that "Rich Dad, Poor Dad is one of the dumbest financial advice books I have ever read. It contains many factual errors and numerous extremely unlikely accounts of events that supposedly occurred."
Kiyosaki has also been criticized for being overly repetitious in his teachings. Some consider this a tactic to produce "filler" material in order to make it appear he is covering more material. Kiyosaki claims that this is an intentional teaching style that he feels is important for maximum retention. Repetition often in the form of multiple points of view looking at the same concept help solidify the concept in the mind of the reader.
Even some of the facts he has offered directly have been questioned. For example, on September 19, 2006, Kiyosaki wrote in a Yahoo Finance article that the NYMEX is an exchange where "... pork bellies,… are traded". In reality, pork bellies are not traded on the New York Mercantile Exchange.
ABC ran a 20/20 segment on May 19, 2006 in which Kiyosaki was to advise 3 entrepreneurs on how to make money. They were given $1000 and 20 days to try and make the most money possible. At the end, after mediocre results, the contestants alleged that Kiyosaki never gave concrete advice. "All he [Kiyosaki] does is, I guess, is open your mind to the possibility. He doesn't tell you how to do it." Kiyosaki responds by saying that failure is important to learn. At the end, 20/20 asks, "Does anyone really need 18 books to learn to fail?"
The Wall Street Journal panned "Why We Want You To Be Rich" by Kiyosaki and Trump as did Kiplinger's Personal Finance
Kiyosaki wrote a column in Yahoo Finance in which he blames poverty on laziness. He also implies a religious justification for wealth disparity. "Over the years, I've met many losers who pray to God to give them gold. God helps those who help themselves. Again, the conquistadors may have been killers and thieves, but at least they knew how to help themselves."
Kiyosaki's boardgames have been criticized for being excessively expensive;[citation needed] US$200 for the most expensive Cashflow 101.
Kiyosaki downplays the importance of traditional and tertiary education in achieving financial success. Studies of the median incomes that come with different levels of education suggest the contrary, such as the one found here.
Kiyosaki has also been associated with "multi-level marketing" companies such as Amway, and in 2000 gave a keynote speech at a Quixtar conference. On page 135 of Rich Dad's Who Took My Money?, Kiyosaki admits to his involvement with the MLM industry, stating "I often speak to network marketing businesses because they provide low-cost entry for people to start businesses while also providing them valuable training and mentoring."
http://en.wikipedia.org/wiki/Robert_Kiyosaki#Criticism_and_controversy
"Any comment on the following criticism and controversy:
Kiyosaki's books and teachings have been criticized for focusing on anecdotes and containing little in the way of concrete advice on how readers should proceed...."
I suspect you haven't read the books mentioned on that criticism. After reading their books, it's not hard to see what they are talking about. You don't have to look in the libraries to confirm the facts. You can see it all around you.
I can see you are a religious person. And a teacher. And I expect you will never read their books or understand what we are talking and standing for.
I live by the principles of Ignatius. What I learned in Ateneo is to serve others. I don't see injustice in uplifting the poor from poverty or make them rich.
Businessmen are vicious. We are vicious so people can understand. Sometimes we come across as evil and greedy.
I have talked too much. Talk is cheap. And time is too precious to waste.
Post a Comment