Comments on: Move the elephant with your pinky http://shanglee.com/blog/2009/03/22/move-the-elephant-with-your-pinky/ Thank you for reading Tue, 21 Jun 2011 05:40:47 +0000 hourly 1 By: Sum http://shanglee.com/blog/2009/03/22/move-the-elephant-with-your-pinky/comment-page-1/#comment-39849 Sum Mon, 30 Mar 2009 09:32:05 +0000 http://shanglee.com/blog/?p=492#comment-39849 The romanticism of financial independence may cloud one's judgement with dreams of money falling from the sky. (Is this a good time to mention the Mini-bonds saga? Hehe.) I believe in taking calculated risks, of course, and that's how many people have retired rich and retired early. If you have a good business idea with proper planning, by all means go ahead... totally support you. :) The romanticism of financial independence may cloud one’s judgement with dreams of money falling from the sky. (Is this a good time to mention the Mini-bonds saga? Hehe.)

I believe in taking calculated risks, of course, and that’s how many people have retired rich and retired early. If you have a good business idea with proper planning, by all means go ahead… totally support you. :)

]]> By: Shang Lee http://shanglee.com/blog/2009/03/22/move-the-elephant-with-your-pinky/comment-page-1/#comment-39834 Shang Lee Sun, 29 Mar 2009 16:13:16 +0000 http://shanglee.com/blog/?p=492#comment-39834 but financial independence is so alluring... it seems to have a romantic kind of freedom to it. if for this reason, will you still make the same choice? but financial independence is so alluring… it seems to have a romantic kind of freedom to it. if for this reason, will you still make the same choice?

]]> By: Sum http://shanglee.com/blog/2009/03/22/move-the-elephant-with-your-pinky/comment-page-1/#comment-39813 Sum Sat, 28 Mar 2009 07:45:04 +0000 http://shanglee.com/blog/?p=492#comment-39813 It's a personal choice I believe, whether you want to be in debt or not. I'm not sure what kind of advice Kiyosaki's book is trying impart, but I'm guessing that it is to borrow to invest? I personally do not like to be in debt as well. Credit card purchases, instalment payments on larger household appliances and other small debts are fine. At least for these forms of debt, I have over its repayment. But if the book is trying to tell you to borrow to invest in large sums on something that has the potential to yield high returns but also has the risk of falling below the capital invested, then I don't think that's right. As we can bear witness in the current environment, markets are never predictable. Even the largest, most secure corporations can collapse in a day. I'm not willing to bet my life savings or borrow to take that kind of risk. I guess I'm not gonna retire young OR rich. :) It’s a personal choice I believe, whether you want to be in debt or not. I’m not sure what kind of advice Kiyosaki’s book is trying impart, but I’m guessing that it is to borrow to invest?

I personally do not like to be in debt as well. Credit card purchases, instalment payments on larger household appliances and other small debts are fine. At least for these forms of debt, I have over its repayment.

But if the book is trying to tell you to borrow to invest in large sums on something that has the potential to yield high returns but also has the risk of falling below the capital invested, then I don’t think that’s right. As we can bear witness in the current environment, markets are never predictable. Even the largest, most secure corporations can collapse in a day. I’m not willing to bet my life savings or borrow to take that kind of risk.

I guess I’m not gonna retire young OR rich. :)

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