Should I get my dad to let me have a book shopping spree?

Should I Get My Dad To Let Me Have A Book Shopping Spree

Review

Most helpful client reviews

4 of 4 humans found the following review helpful.
Uncommon Parenting Advice from the teen’s perspective
By Scott Edwards
I’ve been a truehearted reader of Vanessa’s blog and was so excessively affected emotionally to read her in print! This isn’t a typical blog author book where it is largely their articles regurgitated in print form, but rather a whole new piece of work that any person who wants a new perspective on parenting ought to read. I find most parenting writers get stuck in the clouds, talking in regards to the theory behind conduct and leave me high and arid when it actually comes to real advice. Vanessa does a great occupation of mixing in the latest theory and exploration on teen and family behavior, but in truth delivers practical, step by step counsel on how to improve communications with my kids. Sometimes that seems like an out of the question task, but Im much happier taking counsel on how to approach my teenagers from someone who in truth interviewed a large total of them. If you are a parent of a teen or tween, this is a wondrous helper in understanding the lives of your kids!

3 of 3 humans found the following review helpful.
A Unique Perspective
By Michelle
I was impressed by Ms. Van Petten’s unbelievable clear or deep perception into the life of a teenager and what genuinely is going on emotionally, mentally, and physically. It’s a guidebook of sorts to help parents in navigating that tender kinship among an adolescent and his/her parents or guardians. While sure behavings are developmentally appropriate, it’s often times difficult for a parent to recognize this and it’s exceedingly helpful to have this book remind us that adolescence comes with extreme alter which may result in fragility, frustration, and a desire to push parents away. While it may be exceedingly in an emotional manner draining for all parties involved, parents ought to respond with compassion, patience, and unconditional love. These are all traits that Ms. Van Petten exemplifies through her writing. Above all, she reminds us that our children want what any person wants– to be understood. Do I Get My Allowance Before or After I’m Grounded?: Stop Fighting, Start Talking, and Get to Know Your Teen helps us do just that.

1 of 1 people found the following review helpful.
A outstanding resource for any parent!
By Natalie
Vanessa Van Petten has given us another extremely pleasing resource for parenting. Her book not only perfectly addresses current and applicable issues, but gives us real and tangible solutions (I don’t think my parents ever had to worry regarding me sexting!) A must read for any parent!

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The Book

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money-That the Poor and the Middle Class Do Not! – by Robert T. Kiyosaki

Personal finance author and lecturer Robert T. Kiyosaki invented his distinctive economic perspective from two very dissimilar influences – his two fathers. This text lays out Kiyosaki’s doctrine and his kinship with money.

Opinion on the book

This is with objectivity a bad book, I have to be honest. BUT it is a very good start out if you’re all new and fresh, and want to tiptoe into the waters of self-employment, and investing, and just get smarter with regards to money. At least it is what it did for me, a long time ago now, so I thought it would be a good get started for our book per week.

This is not a book with regards to methods (it tries to be though, but it’s very dangerous advice, like “use your own company to get you a tax free lavishness watch”, which will land you in jail. Fast. I also believe at some point he advised to invest in subprimes because the interest were goods and the risks were low, though I’m not sure when it comes to that…), it’s in regards to motivation and attempting to get into the “rich” state of mind, meaning not be somebody who just spend each penny into craps and don’t invest in anything.

The Book in One Sentence

Start making your cash work for you, stop working for your money.

Quotes

“Money is a powerful force. Unfortunately, persons use the power of cash versus them. If your financial intelligence is low, cash will run all over you. It will be smarter than you. If cash is smarter than you, you will work for it all your life. To be the master of money, you need to be smarter than it. Then cash will do as it is told. It will obey you. Instead of being a slave to it, you will be the master of it. That is financial intelligence. “

Notes

#1 – There is no such thing as occupation security anymore

The mutual faith in our society is “work hard in high school, then go to a good university and work even harder, then get a good occupation and everything will be fine for you”. But in real life, most of the time it ends up with a “what the hell will I do now” after university, or a “is this my life, really?” in mid-career of after losing a job.

Lose your illusion and realize that there is no such thing as occupation security (look at the rate of jobless after university. I wish there were statistic showing how numerous persons in truth work in what they studied there), so you better do what you like and want.

This being said – and this is out of the book – if what you want in life is to be an accountant and work for a big company, a peaceful office job, then go for it, there’s not one thing defective with that. Not every one may or want to be a multimillionaire. But if you become an accountant become daddy said so then you better rethink your options.

#2 – Assets and liabilities

The author’s idea is simple: you have an income, and there are two things you may do with it: buy summations or buy liabilities.

For example if you buy a car you just purchased yourself a liability that’s going to cost you cash each month. Same if you rent a house.

But if you determine to invest and buy let’s say a little four apartments house and rent three of them, then you just purchased yourself an asset: it’s not costing you anything but it’s actually earning you money!

So the regular middle class go that way:

Income → Buy things → Income goes up → buy more things → Get fired → Can’t recompense for things anymore

Whereas the ‘rich’ income looks like this:

Income → Buy pluses → more income from pluses → more assets

And so on. You want to rethink the way you spend. Your income can’t be fixed by what your boss pay you.

#3 – Create

Another counsel is to construct your own company, and this for two reasons.

First reason is that your regular Joe does:

1) Earns Money

2) Pays Taxes

3) Spends money

while a company:

1) Earns Money

2) Spends Money

3) Pays Taxes

While this is very true indeed, you have to be careful not to merge your personal finances and your company finances or else this could land you in jail. Careful here. BUT you sure will get a discount the size of the VAT of your country for that nice computer you’ve been wanting if you put that into ‘company expenses’.

Second: Create a company to actually do things. Create something, a product, whatever. The idea here, at first, is not to genuinely make millions but to work on what the author calls your financial IQ, meaning your capablenesses to ‘play’ with the conception of money, and therefore get yourself the formation required to become an investor, since persons who are not investors have no idea what it feels like to be attempting to trade something. So get yourself out there and get on the other share of the deal for once! Be a seller!

#4 – Passive Income

The indispensable lesson of the book is this: get yourself out of the equation. Start making your cash work for you, stop working for your money. Which means that whatsoever you choose to build, work on the system so you’re not the center of it.

This is key because if you just have to work more and more to keep up with the growth, what is the point of it? You just built yourself another liability in time. For example opening multiple restaurants is nice. Having a franchise where humans open restaurants for you is even better.

#5 – Invest

After getting a creator, the author says you must have learned sufficient to become an investor. That is the extreme step to financial freedom. Investing means you’re not in truth ‘working’ anymore in the mutual sense of the term, but you’re making your cash work for you. Examples of this action is real estate investing, or laying out capital into other companies.

On the fact that you need cash to do that, the author advises to stop thinking of cash binary. Don’t be scared to make offers, just go for it, offends people. How do you recognise that house hasn’t been on sale for two years and the proprietor is not desperate? How do you recognise that banker won’t loan you that cash for the down payment, and the other one the cash to buy what’s left of the house to pay? You don’t. Go for it, a ‘no’ won’t kill you. Working your ass off without saving anything can. Period.

Why you ought to (or ought to not) buy that book

If you’re reading that newsletter I don’t actually think you need to buy that book, much more interesting stuff is coming in the future.

The only good reason to buy it would be as a present for someone who is presently engaged in a struggle with his finances and has no idea what he is doing wrong.

~Thomas