Category Archives: Book Review

I Finally Read Rich Dad/Poor Dad and Almost Liked It

I used to hate Robert Kiyosaki’s Rich Dad/Poor Dad books. I’ve been really turned off by the promotional seminars and multilevel marketing built up around the book and the concept. And the spin off books also seem less about imparting knowledge and more about making the author wealthy(-er).

You, too, can have this! Buy my book! Buy! Buy! Buy!

I don’t mean to hate on a guy making a buck. Too many people, though, act like consuming a book on personal finance is the same as making progress on their personal finances, and I find that both gross and seductive. Much of the Rich Dad/Poor Dad empire preys on that.

So I’ve long resisted Rich Dad/Poor Dad. But I read it last week.

And, actually, it’s a halfway decent book.

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The Millionaire Next Door

The Millionaire Next Door is a classic in personal finance literature. I can’t recommend it highly enough. It’s less a prescription for how to invest your cash but a description of who actually becomes rich.

Lawyers tend to want to think through what principles ought to apply in order to get to a certain result. Here are some examples: Make a lot of money, then you will be rich. Go to a good law school, then you will be successful. Make partner, then you will be rich.

These are all fine inferences if you want to think your way into disappointment.

This person’s net worth is probably higher than yours.

Another way to figure out what gets a result is to look at when that result has happened, then study how it happened.

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