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lukeprog comments on The 5-Second Level - Less Wrong
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Agreed. Kiyosaki's "Rich dad Poor dad" has lots of good advice about the difference between "good debt" and "bad debt".
AFAI recall it boiled down to "only borrow money for assets, not liabilities"
ie - good debt is borrowing for things that will continue to make you more money (including your appreciating house or your business) and bad debt is for things like holidays or house redecorating projects - things that simply take cash our of your hand.
This has worked pretty well for me so far too.
Kiyosaki's "Rich Dad, Poor Dad" has also received some extremely harsh criticism, some of it at least from people who seem to have a clue what they're talking about. I haven't looked at it myself and am not a financial expert, but would advise anyone considering reading it and/or taking Kiyosaki's advice to exercise caution.
The classic takedown of Kiyosaki is from John T. Reed.
Thanks for the link. ok, that made me reconsider entirely. Lots of good points here.
I guess I liked the motivational tone of the book - but yep, it looks like his facts are not so hot (and in a lot of cases entirely fictional).