My first post on Richdad.com
November 7th, 2007 by KenricThe richdad forums switched over to a new look last weekend. Included in the look was new forum software. With this new software I was able to find my first ever post on the Richdad forums.
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Posted: Wednesday, January 16, 2002 5:32:11 PM
Hello, I’m new to this forum and have just read Rich Dad…Poor Dad. I’ve been reading about real estate and investing for over 10 years and it just dawned on me that I’ve lost sight about 5 years ago of applying what I’ve learned. I seem to have lost focus and this book has redirected my direction.
I am single, 30 and currently have a single family house worth approximately $295,000. I also have two cars (yeah one’s a pure luxury (it’s paid off ;)) & two dogs.
Here’s my situation:
$7000 gross monthly income
$15k saved in stocks currently
$18k 401k, IRAs, etc..
$214k mortgage (5.85%-$1617. PITI)
$6000 CC debt (0% APR to 2003)
$4000 car#2 debt (6%)
After living expenses I figure I have about $1k in my pocket each month. I know I’ve spent some money on unneeded stuff and luxuries and at that time I really weighed the enjoyment factor vs. saving wisely and enjoyment won out after 2 years of weighing.
Anyway, I like to know what you think of my situation and what I should do next.
Convention wisdom says to do this:
1) Pay off car loan
2) Pay off CC debt even though it’s 0%
3) Save 6 months living expenses
4) invest in real estate/stocks
But, reading about real estate investing, flipping, little/no money down has me thinking that I can do 1-3 concurrently with 4. What do you guys think?
Ken
Posted in Finances | 
Stumble it!
Isn’t it cool to go back and read what you wrote years ago? Look at where you were then versus where you are now. A lot has changed!
By Clifford on Nov 7, 2007
Yup, that’s why I continue to write this blog. Can you imagine what it will look it in 2017? Hopefully, I’ll being looking back and saying remember when I started that one ebiz site?
By Kenric on Nov 7, 2007
You *could* do them all at the same time but it’s a matter of if it will actually make you money, rather than cost you more money because you aren’t paying down your debt asap.
_Chris
By Self Improvement Journal on Nov 8, 2007
You sure have come a long way in 5 years. Congratulations! How’s the e-commerce site going by the way?
By Chuck on Nov 8, 2007
Three years ago, I registered on the Rich Dad forums (after purchasing our first investment property) and a few weeks ago, went back to find that first post. What a hoot!
Also, *loved* rereading some of the older, classic real estate posts by rusty, utah, spidey and others—
Didn’t know anyone else did this sort of thing… Thanks for the memories :-)
By ConnieBrz on Nov 8, 2007
Thanks Chuck, the ecommerce site is doing OK. 3 sales so far only.
By Kenric on Nov 9, 2007
Hi Connie, you should check out the fastlane forums. Many richdad regulars on there.
http://www.thefastlanetomillions.com/forum.php
By Kenric on Nov 9, 2007
Thanks for the heads-up… going over there now :-)
By ConnieBrz on Nov 9, 2007
rich dad has a direct marketing biz. the vidio says”take your time….the vidio has a timer 20 min and going down to make your decision of giving your credit card number for a free item
By paul on Jun 29, 2008
richdad says there are many scams, I did not expect his website to be full of them.
By paul on Jun 29, 2008