Customer Reviews

How Come That Idiot's Rich And I'm Not?

5 star:		(20)
4 star:		(11)
3 star:		(3)
2 star:		(4)
1 star:		(23)

 

 

This is just a rehash of all the same business and real-estate principles already available from everyone from Trump, to "Rich Dad, Poor Dad," to Suze Orzman...Follow these three steps and skip the book: borrow money to buy a house or asset rather than cash, build a business rather than work for someone, etc. etc. If you've already read 1 financial self-help book than you know this stuff already. Time to put into practice rather than waste money reading the same old thing...


By the way, the book was just published a few weeks ago, so interesting that there are already 3 5-star reviews with glowing and uncritical endorsements....Hmm...The author, his brother, and the publisher perhaps? Clearly Mr. Shermin got one business principle right out of the NY Times
...Positive reviews on amazon = $$$$>

This book could have been titled "How to Use People 101" or "How to be a human parasite" and been just as relevant. Let's see...average guy who didn't bother to "play by the rules" like other poor idiots who worked their way through college or became experts in the field. Then throw in (and I quote)How to use other people's ideas, other people's money, other people's time...

For those who have even the slightest level of self respect or integrity - pass. For the rest of you who desire the dollar at any and all cost - this will be right up your alley.

There are MUCH better books out there that give you real advice on how to build wealth without becoming a human parasite; this book isn't about wealth, it's a primer on using people. However, the author is practicing what he preaches - he's using OTHER PEOPLE's ideas that you have heard a million times before. Don't waste your time on this bomb.

Shermin does what all the get-rich-quick gurus do:
. he disdains traditional education
. he talks of a lavish lifestyle
. he talks of obtaining or having a beautiful wife
. not needing or having a job.
Just how many gullible people are there? The formula these guys spout generally consists of getting involved in some dubious MLM followed by real estate investment. Exactly what does the author own and where? What are the case details of his last deal? Of course these questions always remain unanswered.

The value you gain from this book will depend on your approach. If you are looking for a how-to manual, in the traditional sense, you will probably be disappointed.

If you truly understand that only by changing your mindset can you expect to change your outcome, then you should profit from reading this book.

The basic tenent of the book is that successful (rich idiots) think very differently from the average folks (RUB - right side up and broke). It seems self-evident that if you are doing what everyone else is doing, just following the herd, you cannot expect to get results that are vastly different from average. You will not get rich doing what everone else is doing.

The book contrast the thinking of those who achieve a high degree of financial success with the way the average person thinks. If you truly want to achieve financial success, you must make a basic mindset shift. Unless you do, you will always struggle.

In the book Robert Shemin gives what he says are 7 secrets to getting wealthy. They really are not secrets, just facts of life that few people care to really address. The first is mindset. You must change your way of thinking.

The third secret is focus. One goal can make you rich, more than one will keep you broke. The secret to success is focus. Often we won't stick with any goal long enough to achieve success. We are constantly distracted. We jump from one opportunity to the next, never sticking with one long enough to figure out how to make money from it.

Secret # 5 is building a team. This is important. Most folks try to go it alone. You need others involved. No one really gets rich by themselves. Learn to involve others and use their time and knowledge to help you.

Secret # 6 is a valuable one for most folks. Shemin gives a very useful definition of assets. Most people have this all wrong. Most people list their automobile as an asset. Few are. Most are liabilities. They depreciate rapidly and cost money to maintain. They do not make money, the cost money.

Secret # 7 (after secret #1) is the most important. Act. Most people plan, study, think about and wait for the right time. The only time is now. You will never get rich unless you are a person of action.

The book really does not cover a lot of new ground. But it is an important reminder of the things you absolutely must do if you want to achieve financial success.

For someone struggling, you may want to give them a copy. If you are struggling, read it. Realize that unless you change your mindset and take focused action, you will still be broke.

Rather than repeat what most of the negative reviews have mentioned thus far, (which I agree with), I will provide a specific example of the kind nonsense/trash Shemin is peddling.

He has a section of tips on how rich people search for bargains in order to get "more value [at] less cost". Within the 'Travel & Entertainment' section he suggests you should become your own travel agent in order to "get major discounts & commissions, automatic upgrades, and even free trips". And just how do you do that? Well, it's easy... simply go to his "special" website and sign up with a company called Your Travel Business. He does mention that he gets benefits, but that's okay, because "you'll get the same added goodies" blah blah blah. After a quick search on the internet about YTB, I found the following comment from the Better Business Bureau:
"We believe this company may be engaged in a pyramid marketing plan because of their apparent emphasis on recruiting rather than selling travel. Those who buy into the company's team become legally responsible for the claims they make about their company, its product, and the business opportunities it offers. That is true even if the claims are presented in a company brochure or advertising flyer."

Need I say more?

Just a lot of printed "hot air," with no useful advice and a fair amount of idiocy. Example: The fact that the rich give a slightly greater proportion of their money to the needy proves they're not greedy. (I'd donate more if I had more money too!)

Getting rich requires a clear plan that focuses on activities with a high probability of success for the individual involved. Simply saying "Start your own business" (most fail), or "acquire rental properties" (most provide negative cash flow), is not useful.

Wow, I am so tired of these books, I could scream. Shame on all of us who bought the damn book. It is trash!!! Mostly it is about buying real estate. For those of us who cannot possibly buy a home it dissapoints me once again. No, I don't have anyone that can lend me the money, Robert. Surprise, the other way to get rich is to get into a MLM company and sell others the products. In other words, become a sucker and then sucker other people into it and then have them sucker others into it. And so on and so on. Let me tell you about myself. I've owned my own business for 6 1/2 years/ A very small business. The Gov't doesn't support the little people, I assure you. My income after paying everything and employees? A whopping $8,000. for the year! Whoo hoo. Unfortunately, I am stuck for a few more years in my lease or I will be sued. So I will never be able to buy any home, and I would never buy into a MLM business to trap others. Thanks for the same old pathetic advice. I am stuck in a never ending cycle and this book just sent me over the edge. Save your money and open a lemonaide stand. You'll make more.

I liked the book for what it was...sure it may be simple but Shemin writes so the common person can understand. What's wrong with that? This book makes you want to think outside the box of conventional teachings and the personal stories are to let the readers know that if Shemin could make it, so could anyone.

I am glad that I didn't spend my money on this book. Once again a book for the lazy and unethical. Save yourself the time and money and watch an infomercial for 2 hours. This book could have been written on a long car ride by a high schooler.

Blablabla!!!
The title of this book should be: How come THAT idiot didn' t buy this book and I DID?