Idiots and Riches

[stephenjoseph]

Target : Robert and Kim Kiyosaki

Who are they : Self-Proclaimed Wealth Gurus

Why they are idiots : They are against investing in 401ks, preferring real estate.

Why they are rich : Books, Seminars, and expensive courses.

Why they are wrong : Employer matches contributions, netting almost instanteous 80% ROI. Also, do not recognize index funds

Comments

[msbeanhead]

Boo, I haven't had any matching for my 401K yet.
Also, where to get info on index funds.

[stephenjoseph]

howdy girl

https://flagship.vanguard.com/VGApp/hnw/FundsIndexOnly

I'm in a mix of international, s&p500, and smallcap

[nonznet]

Robert Kiyosaki's advice on wealth-building is also ineffective. He claims it is easy due to his success in getting in on the Phoenix, AZ real estate boom. The only problem is that these booms are hard to get in on and even harder to predict, and with the potential bubble burst on the horizon, I'd much rather put my money in index funds.

[theonewhois]

So, they charge substantial amounts of money to tell me to reject every bit of fact based financial advice I've ever gotten from a stable and reputable source. Huh. :sigh:

In a vaguely related note, I'd like index funds a lot more if I had the option of selectively removing certain companies who I believe have questionable ethics. (yes I know this defeats the point)