Good debt and bad debt is important to know, but I think authors like Kiyosaki, Dave Ramsey, David Bach....all these authors, they miss the bigger picture when it comes to wealth building IMO.
For most people, "investing" isn't going to make much of a difference (at least short term).
Say you've got $50,000 socked away in various accounts (IRA, a regular brokerage account, money market). And it's making 10% a year. That's $5,000 a year.
If you're making 8% a year, that's $4,000 a year. If you're really savvy, maybe you're making 12 or 14% short term, but it doesn't mean much. It's a couple thousand dollars a year difference.
Alot of wealth building is pyschology, daily habits, and thinking patterns. Its not just debt, investments, or "products".
Penny wise, pound foolish thinking is a trap I see people get in all the time, it costs them a fortune.
I know someone that goes out of her way to grab bargains, freebies, etc (she loves 10 cent listing day on ebay).
There's nothing wrong with that, but she overspends by thousands of dollars a year on things she doesn't look at or enjoy. What difference does it make if you're saving $5 here or $3 there?
Or someone worrying about gas when they drive around a big RV. You leave alot of money on the table with this kind of thinking.
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