Friday, January 16, 2009

Rich Dad - Don't Take Loser Advice

Robert Kiyosaki sometimes writes for Yahoo! Finance. His articles are insightful and this week's couldn't have been more bang on.

Taking advice in this economy that equates to doing the same thing you have always done will get you worse than the same results. It could lead to a very uncomfortable financial future.

Who can say what will happen with the stock markets and economies around the world. Don't bet your future on a salesman's spiel.

"So what is wrong with those giving the advice and those following it? Now that the markets have crashed and trillions have been lost, these so-called experts continue on like mindless parrots, saying over and over again, "Polly wants you to invest in a well-diversified portfolio of mutual funds."

"So my advice is, be very careful whom you take financial advice from -- and that includes me. My guidance, after all, does not work for 80 percent of the people. My suggestions are not right for those who work for a paycheck or for commissions, nor do they work for those who save money in the bank or a retirement account." Read More

For me I want tangible assets that produce cash flow. It's common sense when everything else goes haywire I will have passive income coming in from well chosen properties. Why gamble your life savings??

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