[ExI] rich dad poor dad

[Dan]

--- On Wed, 5/13/09, spike <spike66 at att.net> wrote:
> There is a local seminar from the author of Rich Dad Poor
> Dad that is being
> advertised on the radio.  The lead-in advice to
> attract listeners seems like
> terrible advice.  Perhaps some here have heard the
> ads.  They say right up
> front that working and saving will never get you rich
> (therefore don't
> bother trying.)  There are other notions in there that
> will likely prove
> ruinous to those who follow the advice, but consider the
> masses who hear the
> ads and do not attend the seminar.  I can imagine the
> actual ads leading to
> financial ruin for millions.

Well, I've not read or listened to the book, but my feeling is that while just working hard and saving might not make you rich, they probably won't make or keep you poor -- though this depends on a lot of other factors.  Still, in my view, the odds are against the guy who starts with little, has average talents, and decides not to work and save.  This reminds me of Nassim Taleb's story of the tooth driller vs. the trash collector who wins the lottery.  IIRC, his point was people will look at the latter and go for that career -- low income hoping for the lucky break -- forgetting that winning the lottery is fortuitous and almost totally out of your control.

Regards,

Dan