By Robert T. Kiyosaki
A lot of the booklet is instructed in dialogues among younger Kiyosaki and his wealthy dad, and those conversations can ramble. There are rewards for the cautious reader--for instance, in the course of a bit at the uncomplicated principles of making an investment, Kiyosakis wealthy dad compares investor schooling to rest room education: tough initially yet finally computerized. yet attending to those encouraged metaphors ability wading via loads of repetitive discussion. Its a section ironic that somebody who advocates investor self-discipline may still exhibit so little as a author. yet through the top of the e-book, even the rambling begins to make experience. by way of the hundredth time you learn that the wealthy dont paintings for cash, and that you just dont desire funds to generate profits, either ideas begin to make feel. It nonetheless appears to be like tricky to use those principles, yet wealthy Dads advisor to making an investment definitely makes the case that theyll paintings for somebody daring and clever adequate to perform them.
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Additional info for Rich Dads Guide to Investing: What the Rich Invest in That the Poor and Middle Class Do Not!
There are many different investment products, each designed to do something different. That is another reason why the subject of investing is so confusing. There Are Different Investment Procedures 3. Rich dad used the word “procedure” to describe the technique, method, or formula for buying, selling, trading, or holding these investment products. The following are some of the different types of investment procedures: 1. Buy, hold, and pray (long) 2. Buy and sell (trade) 3. 4. 5. 6. 7. Sell then buy (short) Option buying and selling (trade) Dollar cost averaging (long) Brokering (trade no position) Saving (collecting) 4.
So I buy at the top because it’s the hot popular stock and then a day later it starts heading down. ” Another complaint I often hear is: “The stock drops in price so I sell it, and the next day it goes up. ” I call this the “late to the party” phenomenon or the “you sold too early” phenomenon. The problem with investing in something because it’s popular or rated as the #1 fund for the past two years is that real investors have already made their money in that investment. They were in it early and got out at the top.
I know people who invest only in stocks as well as people who invest only in mutual funds or real estate. That is what I mean by getting attached to the wheelbarrow. There is not anything necessarily wrong with that type of thinking. It’s just that they often focus on the vehicle rather than their plan. ” “So I need a plan,” I said. ” Rich dad nodded, saying, “In fact, don’t invest until you have a plan. Always remember that investing is a plan . . not a product or procedure. ” Mental Attitude Quiz Before a person builds a house, he or she usually calls in an architect to draw up the plans.