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After Reading this Book, I am still where I am financially...  email this discussion to a friend?

myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad 4 years ago

After reading the series of Rich Dad's books, I am more financial educated but I am still financially unchanged. I am still making a bit of money online, doing part time jobs to make some extra income, my investments in stock is not giving me a great return and I am unable to start my own business because money is not enough.

So, I am starting to question myself whether the book is really helpful or am I doing the wrong thing in my own finance? I am still in the rat race. How long would it takes for me to get out of rat race?

Is your financially status improved after reading the book? Is it really practical to apply the theories in Rich Dad's series?

 

rich dad poor dad
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itrungs (105) response was accepted on 12/2/2008.
denotes best response, click it to go to the best response.
tags:  money, book, books are theories, different things, earn money
 
1. myLot reputation of 58/100. forcemaster245 (180)   4 years ago

imo, good books can help, but since many things today change very fast, some things mentioned in the books might become irrelevant very quickly. not only that, books speak more about theories, not practical results, so you might have to wait before you see visible results. i'm sure you succeed if you're patient though. good luck on getting out of the rat race.:)


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  4 years ago

Hi,
Thanks a lot for your advice. I think I need to cost average my portfolio soon. happy

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2. myLot reputation of 70/100. itrungs (105)   4 years ago

I can not judge the book but it may seem hard to relate to it. Some past people who have earnt billions may have published books to earn millions of dollars, but that is their experience, not ours. Learning some skills may be helpful but it all comes down to you. Earning some money online, does not sound so convincing. If you have not started doing this, remember to do so. Create a blog on blogger.com and start blogging. Integrate adsense ads on it in order to earn more money. Google some more ad websites and place them on your site. This blog is really helpful http://earnmoneyfromblog1.blogspot.com/. Try writing articles online and earn some more money. Some sites offer around $20 for just one small article around 500 words. It may seem alot, but the time just flies by. Try writing an article which interests you personally so it will be easier to write something about it. Depending on how old you are, find a way in enrolling in a way to learn a skill or trade such as a mechanic or something. Learn for a while whilst maintaining your jobs and then finish your degree. The go out into the free world and find a skilled job. Earn more money than you have earned before. Ads will be the most effective. HINT: some topics of ads earn more than others. (The ads are relevant to the content on your blog, e.g. money making blog, money making ads)


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  4 years ago

Hi,
Wow, you are my blog reader. http://earnmoneyfromblog1.blogspot.com/ is my blog. lolthumbup

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3. myLot reputation of 82/100. bhanusb (2788)   4 years ago

I think financial education and experience of earning money is two different things.A person can't be reach by reading books only.If you have any businessman friend then take advice from him.He wiil give you a right way to earn more money.Dont't be disheartened.Try ,try and try again.Surely fortune will come to you one day .Thank you.


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  4 years ago

Hi,
Thanks for your advice. Currently, I do not have businessman friend. lol

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4. myLot reputation of 99/100. savypat (13310)   4 years ago

I like to read this type of book even if I only get one idea from it. I have never read one that just clicked and suddenly I had the answers I need and could make more money.


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  4 years ago

You are right. It is a good book to read. I learn a lot of new knowledge in personal finance but I just can't make use of the theory to get started. sad

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5. myLot reputation of 91/100. coxjamir (1178)   4 years ago

Well, I think that since you are more educated on finances and the things that you should be doing, once you start earning more money or whenever a certain situation comes up, you will know the right decision to make and will do it. I think that just because you don't see immediate results that doesn't mean that the book didn't help you. Things take time, especially getting finances together, good credit, etc. I would just keep on doing what you're doing and it will all pull together for you, I'm sure!


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  4 years ago

Hi,
Thanks. You are right. Maybe I need time to get the results I want for my financial status.thumbup

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6. myLot reputation of 86/100. Beruang (684)   4 years ago

I have not read that particular books but I have read books about financial planning and stuffs. All I can say is a book is a book. It is full of theories and some experiences of the author and on many occasions I found that they are somewhat or not directly applicable to all situations or the conditions of our own life as we all live at different places, countries, and so on and so forth... So, it is not surprising that after following a book, nothing has changed.

As far as I am concerned, reading books is good for providing some guides and ideas on how to get things done but the actual success would depend a lot on ourselves and the things that go around us as nothing stay the same all the time...

For a example, a book taught me how to get out of my credit card debt without having to lose my credit cards. Eventually, I made my own decision to get rid of all my credit cards and negotiated with the banks for a settlement based on term loan rates rather than credit card interest rates and now my financial situation has changed from having to look for extra money at the end of the month to having some money to save for the rainy days...

Anyway, I wish you all the best and profit from investments are normally realized after a long time and you have to be patience... All the best. Cheers!


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  4 years ago

Hi,
Thanks for your advice. I am going to work hard for more money and make more investments. thumbup

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7. nabendu82 (50)   4 years ago

Actually this book "Rich Dad Poor Dad" was the first book in my Education System. Robert talks something as Delayed Gratification which we Employee people don't understand. We understand Delayed gratification only.
He talks about starting your own Business. There are two ways he talks - either you have a Dad(or mentor) like him who teaches you about traditional business. Every traditional Businessman gets Bankrupt 2.5 times according to survey. Robert himself gone bankrupt two times.
The other way which he recommends is a non-traditional business like network marketing(which he talks in detail in Cash-flow Quadrant also). Here also we have a mentor who is very successful and help us to succeed which generally takes 2-5 years. He also speaks in some of our functions and is great teacher.
My training company is
http://www.n21global.com


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  4 years ago

Hi,
Thanks for sharing. I will look at your site. thumbup


nabendu82 (50)  4 years ago

Sorry i forgot to tell one thing. In my site
http://www.n21global.com
Go to Asia Pacific and to click on India.
Enter the access code: 5909318
and keep the password Blank.
Fill the required informations and you can enter the site.

Our corporate site is http://www.n21corp.com

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8. myLot reputation of 76/100. luvandpower (1091)   4 years ago

Hi!

It has been a few days since3 I last had a sdiscussion with you, but it's cool. What I have seen recently is that everyoen makes money in their own sort of way. You can't always make money like everyone, and only a certain amount of people make it big from the money making industry. You just have to find whatever is you, when it come to you making money, then you can follow your dream. dont suspect to make it big in anything, always keep short goals, and you will succeed, want to know why? The more you succeed, the happier you are, the happier you are the better off you will be when it comes to making money.


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  4 years ago

Hi,
Thanks for your advice. happy

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9. meggiehan (70)   ranked 32 out of 47 in rich dad poor dad   3 years ago

hey,guy, don't worry , it need more time, i read the series of Rich dad's books also, after that i change my mind, i think it's important, and i believe i will be succeed if i follow by his advise. you did a good job. you just need more time. take it easy and believe it.


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  3 years ago

Hi,
Thanks. I will try my best to learn and apply the theories in my life.

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10. myLot reputation of 90/100. tammytwo (3289)   3 years ago

I haven't read the book but do know to improve your financial status one must make more money than they are putting out. I am trying desperately to just pay off all of my small debt this year. So far I have accomplished paying off three of my small bills. I used every bit of our income tax money to do so. Of course it has helped much because my husband's income from his full time job has been reduced substantially. So we are right where we were at the beginning of the year. However I am still trying desperately to make more money and accomplish my goal of being virtually debt free by the end of 2009.


myLot reputation of 96/100. sdas86 (2442)   ranked 1 out of 47 in rich dad poor dad  3 years ago

Hi,
It is good to reduce debt. Then, you can have more money to invest.thumbup

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