Rich Dad's Advisors: Own Your Own Corporation

Author: DirkPublished: Sep 01, 2004 at 8:42 am 0 comments

I was sceptical: Another one in the Rich Dad's series, and not even by the original author, Robert T. Kiyosaki. But I needed some information, and I needed it quickly.

The lawyer I visited didn't know too much about LLCs (limited liability corporations). In fact, I think he had no experience at all since he spent most of the time of my visit calling up colleagues and asking them my questions.

Anyway, when I left I was as puzzled as before, but why not get a good summary written for actual people without all the complex details?

I decided for that one, because it was an immediate hit for the keywords I searched for, and I had read some Rich Dad's book before and found them interesting. I admit some principles get repeated a lot in the books I read, and I sense they get repeated in every book. But nevertheless my previous impression of the Rich Dad's books were "sound information and making sense."

So I started reading (actually I listen to most books because I prefer audio) and found my thirst for information rewarded. Some parts are too long for my taste, especially the sections why you really shouldn't do business as a proprietorship. I knew those parts cold since they seem to be repeated in every book about "founding your own [insert favorite form of corporation here]". Also, the examples are nice but too basic and foreseeable in most cases.

But the main practical points in founding a corporation (the standard and the s-corporation as well as the LLC) are nicely summarized and gave me a solid background for my decision.

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