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Old 02-13-2006, 12:32 PM  
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Very good post, man! You broke it down...SOLID.

I try to follow the 6 tips. The best tip, IMHO, is Saving Money to buy Assets. Assets are things that put money into your pocket. Liabilities = the opposite.

Quote:
Originally Posted by LaoTzu
Not to be too negative, but I found that book to be fairly useless. He could have made it a 6-page brochure with the same messages intact:

Money management is not taught in school, though it should be.
Avoid a bling-bling lifestyle.
Save money to buy assets.
Avoid liabilities (30-year mortgage, credit card debt, etc.)
Wealth = how long your investment income supports you without eating into principal.

There was some nice motivational stuff at the end about "pay yourself first," and "dollars are your employees," etc., but I really don't understand the hype over this man's "story".

The entire book would make a nice introduction to a real economics lesson, but don't read it hoping to learn anything not mentioned above.
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