So basically it tells that it's much better financially to be an entrepreneur.
Is that a great, unique insight ? Is it even true compared to the other options ? Is this the hard part about being a successful entrepreneur ? does it fit the reader to become an entrepreneur ?
So maybe it has some nuggets of truth, but it's gives a lot of empty promises and it lacks depth.
I started reading this years ago after hearing positive reviews. After a couple of chapters, I tossed it out. The values espoused are incredibly selfish and extremely shallow. More importantly, his premise of being able to recall childhood conversations with precision is not credible.
But this book sold over 58 million copies as per Wikipedia. He is a house had name, any many more must have read it through online or through pirated copies. Does that make him a successful entrepreneur?
Everyone can become SUCCESSFUL entrepreneur, only in movies. The book may be misleading for vast majority people. Jobs are suitable for them, or at the best some trade or profession.Even a struggler is better off( on an average) doing a serious of jobs with gaps.Or may be I am wrong.
Summary: invest in assets (retains value and produces a return) rather than liabilities (loses value, even if just due to inflation).
Investing into a savings/checking account, for example, is a liability, as interest doesn't usually offset inflation. A fund that produces a 4% YoY return, on the other hand, is an asset. A house can be a liability if appreciation doesn't offset maintenance, mortgage interest, property taxes and insurance, and any gain that could've been had on the 20% down payment.
Live below your means.
Buy things that return income and increase in value.
This book gets people interested but there is lots more online about how best to live your financial life.
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[ 2.9 ms ] story [ 25.7 ms ] threadIs that a great, unique insight ? Is it even true compared to the other options ? Is this the hard part about being a successful entrepreneur ? does it fit the reader to become an entrepreneur ?
So maybe it has some nuggets of truth, but it's gives a lot of empty promises and it lacks depth.
Meh.
Investing into a savings/checking account, for example, is a liability, as interest doesn't usually offset inflation. A fund that produces a 4% YoY return, on the other hand, is an asset. A house can be a liability if appreciation doesn't offset maintenance, mortgage interest, property taxes and insurance, and any gain that could've been had on the 20% down payment.