Rich Dad, Poor Dad - Robert Kiyosaki

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Colin Twiggs

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Thursday, February 14, 2002 - 02:18 pm:

An easy-to-read book on managing your finances.

This should be compulsory reading for young school-leavers because of two key ideas:

1) Only invest in assets that pay you a (regular) income. Expensive cars, houses, yachts and other toys are not assets but liabilities - you have to continually pay money to maintain them - only buy them out of the income stream from your investments.

2) If you start out by investing your salary/wages and only spend the income from your investments, your investments (and income) will grow exponentially and you will soon become financially independent.

Not really trading/investment - but I hope that a few young investors read this.

Colin

p51

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Registered: 02-2003

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Wednesday, February 19, 2003 - 09:39 pm:

Add mobile phones to that, most kids cant seem to live with out them..

Colin L

wadda

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Registered: 10-2002

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Thursday, February 20, 2003 - 05:58 pm:

A very good read - more on good financial philosophy than specifics. He has several other books out, one of which is investment specific - haven't started reading as yet.

The main theme I got out of the book was to change one's attitude from 'I can't afford that' to 'how can I afford that' then use education (financial), motivation and initiative to derive ways of creating money.

Cheers,

wadda