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by Randy Cassingham

Randy Cassingham's Bonzer Web Sites of the Week: Recognizing Interesting Sites that are Beyond the Microsoft/AOL-Time Warner/Media Megalith

Accidental Income

"What if after working hard for years and years, you woke up to find that you'd made it, and that you're finally a millionaire? What if it happened overnight, by accident? What then? That's what Accidental Income is all about. One person's reflections on keeping your sanity, your morals, your family and your soul after wealth arrives." A blog with not-often-enough postings, AI is written by a man who ...well... "accidentally" became rich when he was at the right place at the right time -- and the lessons he learns as he explores the depth and risks of his good fortune, and figures out what to do with it.

From This is True for 29 December 2007

Suggestions for further reading:

Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor...
By: Robert T. KiyosakiSharon L. Lechter
List Price: $16.95
Amazon Price: $11.53
Editorial Review:
Personal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed. --Howard RothmanPersonal-finance author and lecturer Robert Kiyosaki developed his unique economic perspective through exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest friend. The lifelong monetary problems experienced by his "poor dad" (whose weekly paychecks, while respectable, were never quite sufficient to meet family needs) pounded home the counterpoint communicated by his "rich dad" (that "the poor and the middle class work for money," but "the rich have money work for them"). Taking that message to heart, Kiyosaki was able to retire at 47. Rich Dad, Poor Dad, written with consultant and CPA Sharon L. Lechter, lays out his the philosophy behind his relationship with money. Although Kiyosaki can take a frustratingly long time to make his points, his book nonetheless compellingly advocates for the type of "financial literacy" that's never taught in schools. Based on the principle that income-generating assets always provide healthier bottom-line results than even the best of traditional jobs, it explains how those assets might be acquired so that the jobs can eventually be shed. --Howard RothmanA #1 New York Times bestseller, 'Rich Dad, Poor Dad' is a true story on the lessons about money that Robert Kiyosaki learned from his two "dads." One dad, a Ph.D. and superintendent of education, never had enough money at the end of the month and died broke. His other dad dropped out of school at age 13 and went on to become one of the wealthiest men in Hawaii. 'Rich Dad, Poor Dad' will . . .· Explode the myth that you need to earn a high income to become rich · Challenge the belief that your house is an asset · Show parents why they can't rely on the school system to teach their kids about money
· Define once and for all an asset and a liability · Teach you what to teach your kids about money for their future financial success. In 'Rich Dad, Poor Dad', Robert Kiyosaki explains how to make your money work hard for you instead of you working hard for money.
 
Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and the...
By: Robert T. KiyosakiSharon L. Lechter
List Price: $19.95
Amazon Price: $13.57
Editorial Review:
The rich are different from the rest of us, if for no other reason than U.S. tax and securities laws allow them to invest in ways that keep us from catching up to them. That's why 90 percent of all corporate shares of stock are owned by 10 percent of the people. Kiyosaki believes it's possible for anyone to move up into that 10 percent, but it takes a different view of investing than most people have: it takes a plan to be a successful investor. And a plan is more than simply buying and selling, or collecting "assets" that bring in no cash and are thus more akin to liabilities. The way most people invest, "they might as well be pushing a wheelbarrow in a circle," he writes. A plan is "mechanical, automatic, and boring," a formula for success that has worked historically for most of those who've used it. Kiyosaki's "rich dad" (actually, the father of his best friend) tells him the simplest analogy is the game Monopoly: buy four green houses, trade them for one red hotel, and repeat until you become rich.

The overall message of Rich Dad's Guide to Investing is that this is an abundant world, full of opportunity for the sophisticated investor. However, it sometimes takes a while to find this point. Much of the book is told in dialogues between young Kiyosaki and his rich dad, and these conversations can ramble. There are rewards for the careful reader--for example, in the middle of a section on the basic rules of investing, Kiyosaki's rich dad compares investor education to toilet training: difficult at first but eventually automatic. But getting to these inspired metaphors means wading through a lot of repetitive dialogue. It's a bit ironic that someone who advocates investor discipline should show so little as a writer. But by the end of the book, even the rambling starts to make sense. By the hundredth time you read that the rich don't work for money, and that you don't need money to make money, both concepts start to make sense. It still looks difficult to apply these ideas, but Rich Dad's Guide to Investing certainly makes the case that they'll work for anyone bold and smart enough to practice them. --Lou Schuler The rich are different from the rest of us, if for no other reason than U.S. tax and securities laws allow them to invest in ways that keep us from catching up to them. That's why 90 percent of all corporate shares of stock are owned by 10 percent of the people. Kiyosaki believes it's possible for anyone to move up into that 10 percent, but it takes a different view of investing than most people have: it takes a plan to be a successful investor. And a plan is more than simply buying and selling, or collecting "assets" that bring in no cash and are thus more akin to liabilities. The way most people invest, "they might as well be pushing a wheelbarrow in a circle," he writes. A plan is "mechanical, automatic, and boring," a formula for success that has worked historically for most of those who've used it. Kiyosaki's "rich dad" (actually, the father of his best friend) tells him the simplest analogy is the game Monopoly: buy four green houses, trade them for one red hotel, and repeat until you become rich. The overall message of Rich Dad's Guide to Investing is that this is an abundant world, full of opportunity for the sophisticated investor. However, it sometimes takes a while to find this point. Much of the book is told in dialogues between young Kiyosaki and his rich dad, and these conversations can ramble. There are rewards for the careful reader--for example, in the middle of a section on the basic rules of investing, Kiyosaki's rich dad compares investor education to toilet training: difficult at first but eventually automatic. But getting to these inspired metaphors means wading through a lot of repetitive dialogue. It's a bit ironic that someone who advocates investor discipline should show so little as a writer. But by the end of the book, even the rambling starts to make sense. By the hundredth time you read that the rich don't work for money, and that you don't need money to make money, both concepts start to make sense. It still looks difficult to apply these ideas, but Rich Dad's Guide to Investing certainly makes the case that they'll work for anyone bold and smart enough to practice them. --Lou Schuler'Rich Dad's Guide to Investing' follows the New York Times bestsellers 'Rich Dad, Poor Dad' and 'Rich Dad's CASHFLOW Quadrant'. Most of us know that the best investments never make it to market. This book discusses what the rich invest in that the poor and middle class do not. What follows is an insider's look into the world of investing, how the rich find the best investments, and how you can too. Robert Kiyosaki and Sharon Lechter show . . .· Rich Dad's basic rules of investing · How to reduce your investment risk · Rich Dad's 10 Investor Controls · How to convert your earned income into passive and portfolio income · How you can be the ultimate investor!


 
Rich Dad Poor Dad for Teens: The Secrets About Money--That You Don't Learn in...
By: Robert T. KiyosakiSharon L. Lechter
List Price: $14.99
Amazon Price: $10.19
Editorial Review:
The #1 New York Times bestselling authors of the blockbuster Rich Dad Poor Dad series reveal their groundbreaking financial advice to teens. This special just-for-teens edition based on Rich Dad Poor Dad builds a foundation of self-confidence from which readers can realize their dreams of financial security in an increasingly challenging and unreliable job market. Teen-friendly advice, examples, sidebars, and straight talk will supplement all of Rich Dad's core advice: Work to learn, not to earn. Don't say 'I can't afford it'-instead, say 'How can I afford it?' And, don't work for money-make money work for you! No matter how confident or 'good in school' readers consider themselves to be, RICH DAD POOR DAD FOR TEENS makes financial intelligence available to all young people with its streamlined structure, clean design, and accessible voice. Here's a book that teaches teens what they don't learn in school-and what many of their parents have yet to learn.As Robert Kiyosaki writes in Rich Dad, Poor Dad, the poor and the middle class work for their money, but the rich make money work for them. Now this phenomenally popular financial philosophy is explained in a style that's perfect for teenagers. Rich Dad, Poor Dad for Teens distills the principles of cash flow, assets and liabilities, saving and investing money, and how to find opportunities to "create money" by presenting these points in a voice and format geared toward younger readers. Best of all, Rich Dad's advice is accessible to all teens, no matter how "smart" or confident they feel about money. Parents and teachers seeking creative, accessible ways to teach "financial intelligence" to teens will also find this book a useful tool. More than ever, teens and parents are realizing that it's never too early to become financially literate, and this book gives them a means to get started.
 
Padre Rico, Padre Pobre/ Rich Dad, Poor Dad (Padre Rico)
By: Robert T. KiyosakiSharon L. Lechter
List Price: $15.99
Amazon Price: $10.87
Editorial Review:
A #1 New York Times bestseller, Rich Dad, Poor Dad is a true story on the lessons about money that Robert Kiyosaki learned from his two dads. One dad, a Ph.D. and superintendent of education, never had enough money at the end of the month and died broke. His other dad dropped out of school at age 13 and went on to become one of the wealthiest men in Hawaii. Rich Dad, Poor Dad will: Explode the myth that you need to earn a high income to become rich; Challenge the belief that your house is an asset; Show parents why they can't rely on the school system to teach their kids about money; and teach you what to teach your kids about money for their future financial success. This Bestseller is changing how the world views money by shifting your context to that of a rich person. If you are like many - dependent on your paychecks to cover your monthly expenses - then you don t think like the rich. The rich don t accumulate cash; they accumulate assets that generate cash flow for them. In reading Rich Dad Poor Dad, you ll better understand the power that thinking can have on your life.

Description in Spanish: Un plan integral para consolidar e incrementar la bonanza financiera. La inteligencia resuelve problemas y produce dinero; el dinero sin inteligencia financiera es dinero que pronto se pierde. Con esta sentencia, Robert T. Kiyosaki nos descubre un panorama excepcional para hacer que el dinero trabaje para nosotros y como lograr el anhelado crecimiento financiero. Padre rico, padre pobre cuenta la propia experiencia de Robert T. Kiyosaki cuando descubrió en la ninez la tenacidad al servicio de la inteligencia y la forma calculadora y firme en que se deben tomar las decisiones. Gracias a los consejos de su padre real, el superintendente de educacion de Hawai, el padre pobre, y el ejemplo de su padre rico en realidad padre de su mejor amigo de la infancia , hombre de negocios sagaz, de perspectivas amplias y agudeza financiera a toda prueba, Kiyosaki pudo elegir el exito y el crecimiento economico y rechazo la realizacion profesional incierta, la prosperidad convencional llena de ataduras. La obra esta estructurada en 6 lecciones basicas sobre el dinero, extraidas de la sabiduria del padre rico; en ellas se revela lo siguiente: el rico no trabaja por dinero, el dinero trabaja intensamente para el; es indispensable aprender alfabetizacion financiera, luchar por la consolidacion de nuestros propios negocios; se explica la historia de los impuestos y el poder de las corporaciones; la destreza de los ricos para multiplicar el dinero: ¡inventarlo!; la importancia de trabajar para dominar y producir. El autor expone a su vez las razones por las que las personas no logran ser financieramente competentes para gozar la vida que siempre han sonado, estas son: el miedo, el cinismo, la pereza, los malos habitos y la arrogancia. Padre rico, padre pobre ha cautivado a millones de personas con sus formulas originales y asombrosas para hacer que nuestro dinero se multiplique en forma extraordinaria. Las lecciones de Kiyosaki sin duda cambiaran nuestra vision de los negocios y las inversiones, y haran que unicamente nosotros determinemos el destino de nuestro dinero.


 
Padre Rico Padre Pobre para jóvenes (Rich Dad, Poor Dad for Teens) (Padre Rico)
By: Robert T. Kiyosaki
List Price: $14.95
Amazon Price: $10.17
Editorial Review:
Give your teen this book and protect their financial future! Picking up where school leaves off, Rich Dad Poor Dad for Teens is the secret weapon for gaining the freedom to create the wealth you want. No matter what your grades are, you ARE smart enough to thrive financially, and it is never too early to begin your financial education. In this book Kiyosaki doesn't just share his amazing personal story, he explains how to make your money work hard for you instead of you working hard for money; and, he also shows you how to make choices today, choices of the rich. Description in Spanish: Robert T. Kiyosaki dedica ahora sus enseñanzas a los jóvenes, se ocupa de ofrecerles en forma sencilla y contundente lecciones de vida fundamentales, que no se aprenden en las escuelas tradicionales, para volverse ricos mediante la audacia financiera, el riesgo en las inversiones y la distinción entre aprender a ganar dinero y trabajar incansablemente para sólo pagar deudas. Padre Rico, Padre Pobre para jóvenes parte de la experiencia personal de Robert T. Kiyosaki desde su niñez, cuando entró a trabajar en un negocio de su padre rico; compara los consejos de su padre real, el superintendente de educación de Hawai, el padre pobre de Kiyosaki, y la audacia de su padre rico (en realidad, padre de su mejor amigo de la infancia), hombre de negocios severo, de amplias perspectivas económicas y temeridad financiera a toda prueba. Kiyosaki advierte a los jóvenes que en esta era de la información, de grandes transformaciones científicas y tecnológicas, la capacitación respecto a negocios, productividad y finanzas es esencial; insiste en que deben poner en práctica nuevas formas de multiplicar su dinero, buscar ser los dueños de los negocios y, aunque en algún momento de su vida sirvan a una empresa como empleados, no olviden que lo ideal es lograr la independencia y el anhelado crecimiento financiero. Mediante consejos prácticos y anécdotas que revelan sus propias vivencias, brinda las herramientas necesarias para buscar el control de nuestro destino económico. Padre Rico, Padre Pobre para jóvenes contiene los primeros pasos para que los adolescentes aprendan a incrementar su capital económico con fórmulas originales y asombrosas, las estrategias de Robert T. Kiyosaki, basadas en operaciones comerciales posibles para objetivos reales, cambiarán su visión de los negocios y las inversiones: harán que determinen el crecimiento y el destino de su dinero.
 
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