Monday, March 13, 2006
If You really need a financial guru...
...I will leave my address at the bottom of this post. Why should you trust Mr. Friendly with your financial data, plans, goals? Hell, he can't do much worse of a job than some of the gurus out there.
I am talking to you .Robert Kiyosaki. Tell your Rich Dad that I want to kick him in the arse.
Not that I have a problem with the guy selling a couple of books...
But he is preying on the weak. I, more nobly, make fun of them.
Consider Robert's outlook. He presents the following as truisms:
A 401(k) is not a retirement plan (it's a savings plan).
Bonds aren't safe.
Saving money is risky.
Why mutual funds have such low returns.
What is inflation.
Why workers are taxed more than owners.
Why pensions are disappearing -- legally
Oooookkkkkkk. What are you getting at Bob? I shouldn't save. I especially shouldn't buy bonds or mutual funds. I shouldn't work, I should own. Wait a fuggin' minute, WHAT THE FUG ARE YOU TALKING ABOUT!
Do you mean to say that I should join your tribe?
Go to your, "ahem, Investment Seminars?"
At $3,000 a pop?
Um, no.
Wait a minute, you wrote a book. You wrote 10 books. Where can I get my hands on them?
Before I buy anything, however, what sage bit of wisdom are you offering for free?
Buy gold, silver, oil, and land.
...
Cancel the book order.
It's not that I don't think commodities are not a valuable hedge against dollar devaluing, it's that this guy's advice is inconsequential and late. Buying a Krugerrand every pay day may make sense. Because the long term growth rate of gold is weak, depending on those Krugerrands as my retirement vehicle is just plain STUPID.
I think both of my readers remember the Jimmy Carter days. Remember $850 gold. Remember the next time gold hit $850. Yeah, me neither. Hasn't happened. Silver, until recently, tanked for 20 some odd years too. As did oil, copper, grains, you, fuggin, name, it.
With the exception of the last few years, commodities have sucked the gas pipe. That's part of the reason that stocks and bonds have, generally, done well in that same period. Makes sense right, as input costs decrease, profits rise.
This is not to say that you should NOT make commodities part of the portfolio. Is there room for a few gold eagles in your war chest? Sure, there is. Is now the time to dive in with both feet because Robert "My Rich Dad Says So" Kiyosaki says so?
No Fuggin' Way!
We are all looking for a way to secure a financial future. Individually, we suspect that we have no clue. Well, that may be. BUT...
That doesn't mean we should jump at the first, seemingly, successful huckster says "JUMP!"
Chew on this for a second:
1.) What is Kiyosaki successful at besides selling books?
2.) Why wouldn't he do what he is successful at, real estate or coin collecting, rather than sell his advice?
3.) What is his specific plan? When is the best time to buy gold? Are futures contracts better than physical? Can I invest in a gold ETF?
4.) How do I become successful real estate investor?
I don't think Mr. Rich Dad provides adequate answers.
For that reason Mr. BuyMyBooks gets a big "Thanks but no thanks" from me.
If you would like some sage Real Estate Investing advice, stick with John Reed and William Nickerson. Nickerson wrote a very successful book many moons ago that reduces the real estate plan into:
1.) Save enough for down payment.
2.) Buy rental property.
3.) repeat step 1 and 2.
Or ask theHost or Me. We have some real estate horror stories. ¶ 7:28 AM
I am talking to you .Robert Kiyosaki. Tell your Rich Dad that I want to kick him in the arse.
Not that I have a problem with the guy selling a couple of books...
But he is preying on the weak. I, more nobly, make fun of them.
Consider Robert's outlook. He presents the following as truisms:
A 401(k) is not a retirement plan (it's a savings plan).
Bonds aren't safe.
Saving money is risky.
Why mutual funds have such low returns.
What is inflation.
Why workers are taxed more than owners.
Why pensions are disappearing -- legally
Oooookkkkkkk. What are you getting at Bob? I shouldn't save. I especially shouldn't buy bonds or mutual funds. I shouldn't work, I should own. Wait a fuggin' minute, WHAT THE FUG ARE YOU TALKING ABOUT!
Do you mean to say that I should join your tribe?
Go to your, "ahem, Investment Seminars?"
At $3,000 a pop?
Um, no.
Wait a minute, you wrote a book. You wrote 10 books. Where can I get my hands on them?
Before I buy anything, however, what sage bit of wisdom are you offering for free?
Buy gold, silver, oil, and land.
...
Cancel the book order.
It's not that I don't think commodities are not a valuable hedge against dollar devaluing, it's that this guy's advice is inconsequential and late. Buying a Krugerrand every pay day may make sense. Because the long term growth rate of gold is weak, depending on those Krugerrands as my retirement vehicle is just plain STUPID.
I think both of my readers remember the Jimmy Carter days. Remember $850 gold. Remember the next time gold hit $850. Yeah, me neither. Hasn't happened. Silver, until recently, tanked for 20 some odd years too. As did oil, copper, grains, you, fuggin, name, it.
With the exception of the last few years, commodities have sucked the gas pipe. That's part of the reason that stocks and bonds have, generally, done well in that same period. Makes sense right, as input costs decrease, profits rise.
This is not to say that you should NOT make commodities part of the portfolio. Is there room for a few gold eagles in your war chest? Sure, there is. Is now the time to dive in with both feet because Robert "My Rich Dad Says So" Kiyosaki says so?
No Fuggin' Way!
We are all looking for a way to secure a financial future. Individually, we suspect that we have no clue. Well, that may be. BUT...
That doesn't mean we should jump at the first, seemingly, successful huckster says "JUMP!"
Chew on this for a second:
1.) What is Kiyosaki successful at besides selling books?
2.) Why wouldn't he do what he is successful at, real estate or coin collecting, rather than sell his advice?
3.) What is his specific plan? When is the best time to buy gold? Are futures contracts better than physical? Can I invest in a gold ETF?
4.) How do I become successful real estate investor?
I don't think Mr. Rich Dad provides adequate answers.
For that reason Mr. BuyMyBooks gets a big "Thanks but no thanks" from me.
If you would like some sage Real Estate Investing advice, stick with John Reed and William Nickerson. Nickerson wrote a very successful book many moons ago that reduces the real estate plan into:
1.) Save enough for down payment.
2.) Buy rental property.
3.) repeat step 1 and 2.
Or ask theHost or Me. We have some real estate horror stories. ¶ 7:28 AM
