This weekend, the NY Times had an article about some of the bestselling books by financial gurus such as Robert Kiyosaki of Rich Dad Poor Dad fame. I was planning to write about it, but I came across this article at Property Grunt that pretty much said it all for me!
I liked this point:
The author of Secrets of the Millionaire Mind "recommends creating a fund just for frivolous purchases because you need to fill your inner spirit."
Property Grunt's response: "What is this inner spirit called? Credit card debt? If you want to fill your inner spirit go to church, temple, become a Buddhist or join the Peace Corps. Money has no place there. By substituting consumption for spiritual well being you will be creating a black hole that will never be filled."
Tuesday, November 15, 2005
Property Grunt on financial books
Posted at 9:44 AM
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1 comment:
While I hate Kiyosaki with a passion, and I am annoyed with Eker for making his book into a big infomercial for his seminars, there is some value to selective self-help reading. Like anything, changing ones habits and values takes time, practice, and reinforcement. I must say, that I did find Eker's book to be right on the money (no pun intended).
I have a mid-7-figure NW myself, and I have worked with many wealthy people as an advisor, and I do think he pegs their attributes (and mine) quite accurately.
Actually, after reading his book, I have concluded that I have been setting my sights too low.
Even after you become a millionaire, you can always learn something new. You just have to be careful whom you choose to listen to.
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