Robert Kiyosaki, author of the uber-successful Rich Dad, Poor Dad series, learned valuable lessons about money from both his real father (Poor Dad) and a wealthy family friend (Rich Dad).
Most of us have only one Dad in our lives (let's call him "Real Dad"). Real Dad is often a great role model, provider, and teacher. But there are limits to what Real Dad knows. Wouldn't it be nice to have a Rich Dad figure in your life like Kiyosaki had? Wouldn't it be nice to know someone who can teach you about investing and saving for retirement?
Well, now you do. Meet your new Fool Dad, Robert Brokamp. Retirement-obsessed Robert heads up the Motley Fool Rule Your Retirement newsletter service, which is designed to give lost souls advice. And not just advice on saving money -- he also gives you ideas on how to make money.
Fool Dad is not going to fix things around the house or coach soccer teams. That's Real Dad's job. But Fool Dad will help you meet your retirement goals, so that you can live in comfort (without needing any handouts from Real Dad).
Now, we all know your Real Dad gives financial advice with the best of intentions. But new Fool Dad Robert Brokamp may know a few things that Real Dad doesn't. Let's see how your Real Dad's advice might compare to Fool Dad's.
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Real Dad says ... |
Fool Dad says ... |
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Plan for retirement. |
Open up and max out an IRA.
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Save as much as you can. |
Open up a high-yielding savings account.
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Diversify your portfolio. |
It's all about asset allocation among different market caps, industries, and investment vehicles.
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Invest in quality stocks. |
Hold a few individual stocks so you can beat the market.
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Real estate is a good investment. |
Real estate investment trusts (REITs) are a necessary component to any diversified portfolio.
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Real Dad is a smart guy. He has some good advice here that may work out for you. But with specific recommendations, Fool Dad can take that advice further and show you how to make the most of your money.
Over time, these tips can add up to big bucks. If Fool Dad helps you earn just 1% more on a minimal $1,000 investment every year for 30 years, that adds up to 33% more when you retire in 30 years. Now just think how much more it could be if you start with more -- or if you contribute annually!
Fool Dad also brings in experts (like value guru Philip Durell, who recommended Alderwoods) to give you the rundown on how to dig up value from well-known companies. He talks to analysts from other newsletters to bring you ideas from the worlds of small caps and mutual funds. Fool Dad knows what works, and he makes sure to tell you about it.
The Foolish bottom line
Robert Kiyosaki was fortunate to have his Rich Dad and Poor Dad guide him through life (assuming, that is, that Rich Dad wasn't a fictional character, as some Internet critics have claimed). If you think you might need some Foolish retirement advice, give your Fool Dad a free one-month trial at Rule Your Retirement. It could be the beginning of a beautiful relationship.
Joseph Khattab and Shruti Basavaraj are Motley Fool research analysts. Joseph does not own shares of any company mentioned. Shruti owns shares of Microsoft. Microsoft is an Inside Value recommendation. Alderwoods is a Hidden Gems recommendation. Bank of America is an Income Investor recommendation. We tell you this because of the Fool's disclosure policy.
