Rich Dad

[BOSTONFICTIONWRITER]

Has anyone read the book by Robert Kiyosaki? It's been on the best seller list since 2000 and has sold nearly 3,000,000 copies. Does anyone play the game developed by Kiyosaki and Donald Trump?

I just bought the game Cash Flow game. I play it every week with a bunch of people. We had two games going. I've graduated to the 201 game and am looking for pointers.

I've heard some say that it's a scam, but one of the guys that I play with swears by it. He said that he's made millions in the few years he's been playing the game.

 

[Safe_Bet]

Has anyone read the book by Robert Kiyosaki? It's been on the best seller list since 2000 and has sold nearly 3,000,000 copies. Does anyone play the game developed by Kiyosaki and Donald Trump?

I just bought the game Cash Flow game. I play it every week with a bunch of people. We had two games going. I've graduated to the 201 game and am looking for pointers.

I've heard some say that it's a scam, but one of the guys that I play with swears by it. He said that he's made millions in the few years he's been playing the game.

Ummm, that wouldn't be scouries would it?

 

[Edward Teach]

Has anyone read the book by Robert Kiyosaki? It's been on the best seller list since 2000 and has sold nearly 3,000,000 copies. Does anyone play the game developed by Kiyosaki and Donald Trump?

I just bought the game Cash Flow game. I play it every week with a bunch of people. We had two games going. I've graduated to the 201 game and am looking for pointers.

I've heard some say that it's a scam, but one of the guys that I play with swears by it. He said that he's made millions in the few years he's been playing the game.

Didn't you post a while back that you won the lottery and gave money away now instead of trying to make more?

 

[Katyusha]

Has anyone read the book by Robert Kiyosaki? It's been on the best seller list since 2000 and has sold nearly 3,000,000 copies. Does anyone play the game developed by Kiyosaki and Donald Trump?

I just bought the game Cash Flow game. I play it every week with a bunch of people. We had two games going. I've graduated to the 201 game and am looking for pointers.

I've heard some say that it's a scam, but one of the guys that I play with swears by it. He said that he's made millions in the few years he's been playing the game.

How can it be a scam? It's a game and it's up to you to either try its principles out or keep it as just a game. It just teaches you ONE way of taking risk and managing your finances; it doesn't tell you that it's a foolproof system that will guarantee you riches beyond your wildest dreams that you don't have to work towards if you'll pay "x" amount of money for it. Maybe tell that to those who say it's a scam?

Obviously I've played the game, and yes I've read the book. My husband and I have a zillion irons in the fire regarding income because of both, although we do have to continue to work j-o-b-s right now. I don't know what kinds of pointers you're looking for and it has been awhile since I've played so I don't know how much help I'd be.

 

[BOSTONFICTIONWRITER]

Didn't you post a while back that you won the lottery and gave money away now instead of trying to make more?

There's nothing wrong with making more money just as there' nothing wrong with finding good investments for the money that you have. Hey, I'm not ashamed to have money. I do my share in being charitable. After financially taking care of family and friends, I have a clear conscience. Now, I'd like to make a bit more for the grand kids...whenever they happen along (lol).

 

[BOSTONFICTIONWRITER]

Ummm, that wouldn't be scouries would it?

Nah, I don't know how he got is money. I think maybe he smuggles in illegal immigrants, which would explain how he gets all those votes to his stories.

"Amigos! Push the numero cinco amigos. You don't even have to read or understand the story. Just push the numero cinco."

 

[BOSTONFICTIONWRITER]

How can it be a scam? It's a game and it's up to you to either try its principles out or keep it as just a game. It just teaches you ONE way of taking risk and managing your finances; it doesn't tell you that it's a foolproof system that will guarantee you riches beyond your wildest dreams that you don't have to work towards if you'll pay "x" amount of money for it. Maybe tell that to those who say it's a scam?

Obviously I've played the game, and yes I've read the book. My husband and I have a zillion irons in the fire regarding income because of both, although we do have to continue to work j-o-b-s right now. I don't know what kinds of pointers you're looking for and it has been awhile since I've played so I don't know how much help I'd be.

Well, he has the higher version of the game, 201. By the way...have you tried playing the lottery? It worked for me (lol).

 

[jomar]

By the way...have you tried playing the lottery? It worked for me (lol).

I'm paying myself first while planning how to spend my future winnings. At which time that family corporation will make more sense. As would a living trust.

 

[BOSTONFICTIONWRITER]

I'm paying myself first while planning how to spend my future winnings. At which time that family corporation will make more sense. As would a living trust.

Well, as would Suzie Orman, I agree with you about paying yourself first setting up a corporation. Only, I'd consult a good tax attorney/accountant to help you set up a living trust.

 

[jomar]

...Only, I'd consult a good tax attorney/accountant to help you set up a living trust.

I went to a talk on one given by a local attorney who specializes in that. I decided the timing wasn't right, but the free lunch was good.

 

[Safe_Bet]

I went to a talk on one given by a local attorney who specializes in that. I decided the timing wasn't right, but the free lunch was good.

When's not a good time to give the government less of your money?

Now days you can get a living will and a full funded trust for $500 - $1,000 (dependent upon # of assets) Even if you are getting a divorce it has tremendous tax and estate planning benefits. [Amy on Safe_Bet's log in]

 

[jomar]

When's not a good time to give the government less of your money?

Now days you can get a living will and a full funded trust for $500 - $1,000 (dependent upon # of assets) Even if you are getting a divorce it has tremendous tax and estate planning benefits. [Amy on Safe_Bet's log in]

It may make more sense now that you can get it for those prices. When I looked into it the lawyer charged $2000 which paid for itself (then saved money) compared to probate only after a certain asset threshold was met. The timing wasn't right then because, unfortunately, I didn't meet that threshold. Probably should give it another look, though.

 

[john-the-author]

I'm paying myself first while planning how to spend my future winnings. At which time that family corporation will make more sense. As would a living trust.

Her Honor says to stay the hell away from living trusts; they're a royal pain and they don't actually do anything for you. Not being a lawyer nor a judge myself, I can't tell you why, but I tend to believe her on these things.

A good friend of mine just went through nine kinds of hell trying to get her mother and father's estates straightened out because everything was in living trusts. It cost her a couple extra years to no advantage whatsoever.

 

[john-the-author]

There's nothing wrong with making more money just as there' nothing wrong with finding good investments for the money that you have. Hey, I'm not ashamed to have money. I do my share in being charitable. After financially taking care of family and friends, I have a clear conscience. Now, I'd like to make a bit more for the grand kids...whenever they happen along (lol).

Hear, hear. Making money is not a zero-sum game. There's enough money on the money tree for everyone.

 

[Safe_Bet]

Her Honor says to stay the hell away from living trusts; they're a royal pain and they don't actually do anything for you. Not being a lawyer nor a judge myself, I can't tell you why, but I tend to believe her on these things.

A good friend of mine just went through nine kinds of hell trying to get her mother and father's estates straightened out because everything was in living trusts. It cost her a couple extra years to no advantage whatsoever.

I don't know who "Her Honor" is but she isn't correct. A Living Trust lets your heirs avoid probate costs, which can easily range from 5% to 10% of the probated assets, and they can GREATLY reduce estate tax liability. Sorry that your friend had problems, but that may have been from an inproperly funded Trust or from very complex asset allocation within the Trust. All a Living Trust does is keeps you from paying excessive taxes and keeps the courts from having any say as to how your assests are allocated after your death. (and no, you CAN'T do the same thing with a will - you need BOTH). (Amy using Safe_Bet's log in)

 

[john-the-author]

I don't know who "Her Honor" is but she isn't correct. A Living Trust lets your heirs avoid probate costs, which can easily range from 5% to 10% of the probated assets, and they can GREATLY reduce estate tax liability. Sorry that your friend had problems, but that may have been from an inproperly funded Trust or from very complex asset allocation within the Trust. All a Living Trust does is keeps you from paying excessive taxes and keeps the courts from having any say as to how your assests are allocated after your death. (and no, you CAN'T do the same thing with a will - you need BOTH). (Amy using Safe_Bet's log in)

Her Honor is the Federal Judge-type person I'm married to (more commonly referred to as "the Babe"). She used to do family law for a number of years and apparently got to loathe living trusts. I don't have details as to why.

 

[jomar]

Her Honor says to stay the hell away from living trusts; they're a royal pain and they don't actually do anything for you. Not being a lawyer nor a judge myself, I can't tell you why, but I tend to believe her on these things.

A good friend of mine just went through nine kinds of hell trying to get her mother and father's estates straightened out because everything was in living trusts. It cost her a couple extra years to no advantage whatsoever.

Interesting. I wonder why there was no advantage.

 

[Safe_Bet]

Her Honor is the Federal Judge-type person I'm married to (more commonly referred to as "the Babe"). She used to do family law for a number of years and apparently got to loathe living trusts. I don't have details as to why.

Interesting. I wonder why there was no advantage.

Yes, that is VERY interesting. If you would be so kind, please ask Her Honor, why she feels this way. Possibly, it is some particularity of the state in which you live. As I previously stated there are only two possible problems with having a Trust: The cost (which has decreased substantially in the last few years) and the possibility of a poorly prepared Trust. I suspect that her dislike of Trusts has to do with the latter. Most attorneys do not know how to properly structure and fund a Trust. If not done correctly it CAN be a nightmare. An entire industry has arisen to address that need, however. Almost EVERY attorney now utilizes a consultant to structure and fund any Trusts with which they are involved. (Amy logged in as Safe_Bet)

 

[Selena_Kitt]

I've read Kiyosaki's book, listened to a few of his tapes, and played the game. We got the kid version, too, and they learned a lot about how money works with it. It definitely made the "rat race" point hit home hard. But I have an aversion to Kiyosaki's real estate steps toward wealth. I have no desire to be a landlord. Ever. So the "starting your own business" to create passive income is the other route I've looked at. But I have a hard time starting something I don't really love, that I don't have a real passion for doing... that's where I get stuck.

 

[sr71plt]

But I have a hard time starting something I don't really love, that I don't have a real passion for doing... that's where I get stuck.

But . . . but . . . you don't . . . love eXcessia? (how crushing)/

 

[Carnevil9]

I haven't played the game, but I've read several of his books. From experience, I can say that he is spot on. If everyone read and followed his advice, we'd have a lot fewer poor people casting bad votes......Carney

 

[BOSTONFICTIONWRITER]

I haven't played the game, but I've read several of his books. From experience, I can say that he is spot on. If everyone read and followed his advice, we'd have a lot fewer poor people casting bad votes......Carney

Well, if everyone read his books and played his games, I dare say, we'd have no one here reading and writing these stories, as everyone would be rich. In my case, I've been rich for a long time, so I'm just bored. Yet, now that I found my passion, writing, I'm happy.

Although the game is a bit pricy at $195, you should try playing the game. It's fun. The next version, 201 is only $95. Yeah, I realize that it cost so much more than a Monopoly game, but is so much more fun.

 

[Selena_Kitt]

But . . . but . . . you don't . . . love eXcessia? (how crushing)/

I adore eXcessica and am very proud of it, but it's not like a regular publishing company, it's more like a partnership (or an interesting experiment in socialism? ) Aside from you as a very rare exception, authors keep their profits. And while I certainly get my own, and it's becoming a very nice passive income, it's not on the scale RK was talking about, kwim?