Reddit mentions of Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

A lot of people (most people) graduate high school or even college without knowing how a credit card really works, or a loan, or taxes. Also, saving is not a cultural value, and for good reason. The largest industry in the US is the financial industry, which is constantly marketing / propagandizing people to spend and borrow, spend and borrow.

There is a reason this book exists, which is that our schools don't teach financial literacy or independence, and our culture doesn't value financial independence, and so if you don't learn it from your immediate family, you probably don't learn it at all.

Couple that with decades of wage stagnation and increasing education and health costs, and it's not surprising that most people in their 20s don't have expectations of financial independence or even retirement, let alone early retirement. If everything you experience tells you that it's not possible, and that your savings won't matter, you are going to spend more now and enjoy life while you can.

Please start your education early with the books that they will never introduce you to!! Here's a good start:

• Rich Dad, Poor Dad
  
• The Art of the Deal
  
• Still the Best Hope
  
• Righteous Indignation
  
  With this knowledge, no liberal will be able to fuck with you!

Rich Dad, Poor Dad by Robert Kiyosaki

I read Rich Dad Poor Dad. I didn’t agree with all of what he said, but most of it made a ton of sense

Everyone works on savings that are really bad, and really in the end are just okay.

You need to focus primarily on investments that generate passive income.

Make money work.

Não tens de agradecer, my pleasure. Assim de repente, alguns clássicos e outros livros que possam ser úteis:

- Rich Dad Poor Dad

- One Up on Wall Street

- The Intelligent Investor

- Everyday Millionaires

- Your Money, Your Life

- Side Hustle

- Motley Fool for Teens - não leves a mal ter escolhido a edição "for teens" - é só porque é um excelente guia para quem está a começar e vai investir quantias pequenas só para molhar o pé. Se quiseres algo mais completo, tudo o que é do Motley Fool (incluindo o site, newsletters e podcast) é bom.

Em português não conheço muito e o único que me vem à cabeça é este do Pedro Queiroga Carrilho.

In his book Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Robert Kiyosaki says something like, "Tax law punishes those who earn their income as employees while rewarding those who earn income as investors."

I know I wrote this before, but I want to drive this point in: Read the book The Richest Man in Babylon. The take away from this book is how to have a broader mind on stressful financial situations and techniques on very common problems.

But on the stressful worries of absolution, you should read both Rich Dad, Poor Dad and Think and Grow Rich. These go more into the emotional intelligence of financial woes as well as some techniques on dealing. Be careful of book 3 though. It's very strong and has dark advice also.

You've contrived an absolutist situation that for some reason you believe to be true. I can't convince you out of this, even though the truth of the matter is that there are situations that have leeway. Rent is one of them. The 2nd and 3rd books go into detail about this.

I feel that you've mentally trapped yourself in a set of "what ifs." These are self worries that disable us. The 1st book explains this well. The 2nd just drives is why, and the 3rd is more what you should do while doing that.

Simply put, you're creating rules to restrict yourself. I get everyone wants to have a high standard on stuff, but those ideals of fronting detract from actual progress.

Some people say education is the best long-term investment.

So continue to learn about finance, living frugally, and really concentrating on your education until you can start developing a portfolio of assets. This is knowledge that will make you a lot of money summed over your lifetime. I waited until I was 24 before I started reading up on saving/investing/financial planning/FIRE. I wish I'd learned it all when I was your age (see Investopedia). I'd have focused much more on collecting income-earning assets and experiences, rather than wasting all my money on short-lived liabilities (like new cars or games I didn't really need).

Literally the most important thing to an investment is time. The earlier you start, the better, due to compound interest. As a rule of thumb, very low risk investments should probably be earning you 2%-5% interest per year (e.g. loans and government bonds, introductory savings offers) and riskier investments (e.g. stock market exchange traded funds) should be returning 7% - 8% per annum averaged over 5-10 years. Company-matched pension contributions are amazing, and make you thousands per year. These should be maxed out if you ever get the option. And then you avoid expensive debt (credit cards, payday loans) like the plague. Anything earning less than 2% AER makes you a few euros a year and is essentially pointless.

There's a book called Rich Dad, Poor Dad. The gist of it is that rich people are taught to build assets over their early working life. The first one is education. Then you could be writing a book, getting constant royalties from it forever (did this). Or you could make an online course (doing this), host an online service, get a lodger (doing this), rent your parking space, or rent out property or storage space. Then you can stop trading your time for income (because your time is always finite and so your earnings will always be linked to how much time you forfeit). Instead, rich-thinking people build a portfolio of assets that make them money. There's another book called The Marshmallow Test, which essentially discusses that smart people tend to be able to delay their own gratification in order to be richer in the future (although a bit of an oversimplification). Anyone can retire early and live out their hobbies; they just need to start saving and investing early and diligently.

It also really helps to really learn how to deal with windfalls of money that you weren't expecting. Most people tend to splurge on unnecessary things, then it becomes a habit. To start, here is the UK Personal Finance flowchart. I'm not sure if there is one for Germany.

I too came from a home situation where finances were very tight but I married (30 years ago) a beautiful young woman from a wealthy family. However, she was never taught how to handle money either.

I found the book Rich Dad, Poor Dad to be helpful and check out /r/financialindependence as someone else already suggested. My wife and I and our family made out quite well despite having to figure it all out on our own.

Good luck!

Banks and advisers from organizations like WFG are essentially just sales people for products. They aren't going to help you manage your money. Luckily, there's a wealth of information out there to help you do this, mostly for free. You will be surprised to learn that managing your money really comes down to very basic principles that can be hard to stay committed to.


Try checking out some of these great subs:
r/ynab
r/personalfinance
r/startups
r/entrepreneur


Also, you can check out these books. They sound gimmicky but they really do have good information about managing your money:
Rich Dad, Poor Dad
The Millionaire Next Door


If you're looking to hire someone, as others have pointed out look for a Certified Financial Planner, not an adviser.

Leverage. Loans. Financing.

I recommend some reading: https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194/ref=sr_1_1?ie=UTF8&qid=1506001245&sr=8-1

Your paying too much for auto insurance, I have a DUI as well (fuck the CHP), and on your cell phone.

Get some cheap birth control from Planned parrent hood, they do that shit for free (USA government pays for it in actuallity).

I would suggest buying Rich Dad Poor Dad.

It is a bit pricey at $8, but it is written for your demographic.

https://www.amazon.com/gp/offer-listing/1612680194/ref=sr_1_1_olp?ie=UTF8&qid=1509903532&sr=8-1&keywords=rich+dad+poor+dad