[Bury Zenek]

Hi,

I recently read two books of the same author, one called 'Rich Dad, Poor Dad', the other 'Cashflow Quadrant' and I just want to confront them with someone else's opinion to make sure they're not giving a fake advice somewhere. Anyone read them too?

[Mochihunter]

I hear the book isnt true but I am curious on the manosphere's ooionion on it. Here is an article on how the book is bogus, but it's found on the internet so i dont know how trusted the source is:


ToughNickel»Personal Finance»Shocking Revelation: "Rich Dad" is Not Real, but a Myth Like Harry Potter. Robert Kiyosaki bluffed! Is There Poor Dad?
Shocking Revelation: "Rich Dad" is Not Real, but a Myth Like Harry Potter. Robert Kiyosaki bluffed! Is There Poor Dad?



After reading and re-reading Rich Dad Poor Dad, I discovered some aspects of the book that sounds good at first, but later I realize are conflicting, or may actually be outright wrong or even illegal. And some quick research on the Internet, revealed that I am NOT the only one who spotted the problems.

This is a troubling discovery for me. I enjoy a lot of Rich Dad's advice, as they do match up with a lot of the stuff I learned from other places. However, the problems are too numerous and serious to ignore. I will analyze a few of them.


Robert Kiyosaki
Robert Kiyosaki
There is No "Rich Dad", Really

One of the most frequent complaints about the "Rich Dad" series is nobody can find any evidence of "Rich Dad".

Mr. Kiyosaki have stated in the book that Rich Dad owned some of the best real estate on Waikiki Beach, and is one of the richest man on the island of Hawaii. However, several researchers for various magazines have scoured the real estate records of Hawaii, and can't find such a person. In fact, Mr. Kiyosaki allegedly told several different stories about the current whereabouts of Rich Dad ™. In at least one instance, he claimed that Rich Dad ™ has passed on. In another instance he claimed that Rich Dad ™ is now an invalid. In yet another book he claims that the family of Rich Dad ™ asked NOT to be identified. And in yet another instance he reportedly admitted that Rich Dad ™ is not a single real person, but a composite character based on several of his advisors, including his best friend's father (the original "Rich Dad"), Dr. Buckminster Fuller, and many others.

In an interview by SmartMoney magazine, published February 2003, Robert Kiyosaki gave an answer that is surprisingly vague, yet real: ""Is Harry Potter real? Why don’t you let Rich Dad be a myth, like Harry Potter?"

Here is the link: https://toughnickel.com/personal-finance...hink-He-Is

[TheFinalEpic]

Did he get rich before writing the book? Or did he get rich from selling the book. There's your answer.

[not_dead_yet]

These books give you the feeling that if you keep reading, eventually you will be made privy to the deep secrets of the universe. It never delivers.

Here's the short version - start your own business.

[WestIndianArchie]

(09-23-2016 02:54 PM)Bury Zenek Wrote:  

Hi,

I recently read two books of the same author, one called 'Rich Dad, Poor Dad', the other 'Cashflow Quadrant' and I just want to confront them with someone else's opinion to make sure they're not giving a fake advice somewhere. Anyone read them too?

Jesus was a horrible carpenter, his teachings were pretty good though.

With that out of the way,
- The books are poorly written
- The author may or may not have gotten rich before the book, he definitely got rich after the book

- The "rich dad" may or may not be a real person. (I've worked professionally in that industry and there are wealthy believers who know the Hawaii Real Estate Investor, and there are wealthy guys that "know" Kiyosaki is full of it

The basic lessons
- To get ahead, you need to work smarter not harder
- To get ahead, you don't trade your time for dollars
- To get ahead, you don't get a job and hope people pay you for your knowlege
- To get ahead, you don't buy things and hope they appreciate.
- To get ahead, You don't buy investments that are actually liabilities
- To get ahead, you focus on buying something low/something mispriced and reselling.

The best way to understand what he means, in my opinion, is the one that gets the most flack.

He says that buying a house, for you and your family to live in, is not an investment. A family home is a liability

People that have a huge attachment to home ownership say
- paying rent is throwing money away
- mortgage deduction
- appreciation

Because Kiyosaki is not good at rhetoric, he doesn't have a good answer for them.

What Kiyosaki should say is

- buy a duplex. You have a place for your family, you're stuff. And the other side of the house is someone paying you rent.

That's making you money in the here and now.
It's something that's within you control.

What do most people do?

They go to school to become employees.
Before they touch any money, their employer sends taxes to uncle sam.
Then poor people take their after tax dollars and spend spend spend.
They have to beg for raises.
The smart investments that they think they're making - they have no control over. (see 2008, see 1999, see 1987..see 2017?)

Rich people, according to him, don't do that.

They go to school to learn something, that can make them money as opposed to getting them jobs.

They make money as a business, and buy the things they need (and can write off), then they pay taxes.

The investments that they make are in real estate where they see cash flow and sometimes appreciation, where they buy into businesses with cash flow. Maybe they're buying stock - but they aren't going to the exchange, they're angel investors.

I can tell you having read those books - i have not become rich.
I don't think very many people have.

People buying those books have made him rich. (and I think that pisses people off)

However using his basic idea and my own imagination, I have made money.

If you understand what he's saying - that you should spend your time, effort, money on producing/creating, and not on spending and consuming - you'll benefit.

Most people just can't seem to do it. I know it's been hard for me.

WIA

[Kinko]

I think the books are good reads. I have read a number of Kiyosaki books. He teaches the elementary school aspects of personal finance. One of his books is actually written in cartoons for grade school kids and it contains the same simple principles about wealth generation. Overall very positive. As you learn more about the real world of money and real estate you should move on to reading the harder stuff.

[I DIDN'T KILL MY WIFE]

Robert Kiyosaki is a scammer, he made his money by selling some self-help motivational books, not with ANYTHING he actually talked about in his books

read the link http://johntreed.com/blogs/john-t-reed-s...dad-part-1

[Kinko]

Hi IDKMW, I would not get so bent out of shape over the details at John Reed's blog. Kiyosaki's books are not THAT awful. I would not go out of my way to personally and professionally derail an author like that. I mean really

If you attend enough real estate investor groups and especially lectures, you will notice none of them are perfect, real estate toughens people up more then they ever wanted, and they are all selling something like additional seminars or programs with CD's and all that. You can just go online and find almost all of the same info on your own for free. Its your choice.

I like Kiyosaki's work and I'm not going to go out of my way to diss his stuff. His books are available for free at most every public library so realize your not being swindled too much there. Kiyosaki does offer a very expensive seminar and people who have done it have told me its not worth it. Then again there are probably people who benefited by taking his classes.

[dispenser]

His books are better classified under self-help than business.

I don't know why you're looking for evidence of two sockpuppets some guy used to tell a dull story.
Here's the story:

"To get more Money, buy things that Make you Money, or that Appreciate over Time.
Most people don't do this.
Media cover up."

You're better off looking at memoirs or biographies of rich people.

[Kinko]

"I don't know why you're looking for evidence of two sockpuppets some guy used to tell a dull story."

Reed does it at his website because his site is selling ebooks ($29 each) about how to get rich. His article that slams Kiyosaki has multiple advertisements for his own product that he says is much better.

Again. Kiyosaki's books do contain useful information. I am not saying it is the best in the world but it's not the worst advice either. My parents gave me some poor financial advice and they continue to give "poor" advice.

[I DIDN'T KILL MY WIFE]

(09-24-2016 05:42 AM)Kinko Wrote:  

Hi IDKMW, I would not get so bent out of shape over the details at John Reed's blog. Kiyosaki's books are not THAT awful. I would not go out of my way to personally and professionally derail an author like that. I mean really

If you attend enough real estate investor groups and especially lectures, you will notice none of them are perfect, real estate toughens people up more then they ever wanted, and they are all selling something like additional seminars or programs with CD's and all that. You can just go online and find almost all of the same info on your own for free. Its your choice.

I like Kiyosaki's work and I'm not going to go out of my way to diss his stuff. His books are available for free at most every public library so realize your not being swindled too much there. Kiyosaki does offer a very expensive seminar and people who have done it have told me its not worth it. Then again there are probably people who benefited by taking his classes.

I read Rich Dad Poor Dad when a friend recommended it to me in a raving kind of way. I read it unbiased, without any prior knowledge of what it was about or who Robert Kiyosaki was, just that "this book is really good for teaching you to think in a business kind of way".

And so I read it, and while reading it it gave off this subtle stench of bullshit, but I couldn't quite place my finger on why. It didn't seem to me that he wrote about any kind of outlandish tale and his "advice" did ring true (only because it's so banal and common sense), so it couldn't be that. Kiyosaki tried to write in this humble, self-reflecting way, but it felt like his humbleness was a very thin facade for an arrogant bullshitter. So I after I finished the book, it still didn't sit right with me. There was a feeling like something was off. I read 100 pages of a book and by all measures, I should have walked away with some new knowledge from that experience. But I didn't, because the book itself is hollow and doesn't say anything. It's very typical for self-help books in general, they spend massive amounts of pages and words to fire you up, give you some kind of mindset but always being careful to hide the fact that they're not saying anything. The hope is that you become so energized and motivated that you'll fill in the gaps yourself and then attribute those filled gaps to the book's wisdom.

So, that's where we are. Kiyosaki is a bullshit artist, simply because he hides the fact that his success came from selling those books, not from his real estate deals. His scam lies not in outright outlandishly lieing but in selling wishy-washy motivational self-help books as some kind of basic business mindset how-to books.

If you want general business knowledge about the mindset, you'd be advised to avoid this book and at least go for the true and tried classics: How to win friends and influence people, The games people play, The millionaire next door etc.

[Stallion]

I read it and didn't get anything out of it.

If you are looking a book like this that has some real content, I second the recommendation for the millionaire next door. The study they based it on is old, but the teachings still stand, and this book will blow most peoples minds.

[nomadbrah]

(09-25-2016 02:41 AM)I DIDNT KILL MY WIFE Wrote:  

(09-24-2016 05:42 AM)Kinko Wrote:  

Hi IDKMW, I would not get so bent out of shape over the details at John Reed's blog. Kiyosaki's books are not THAT awful. I would not go out of my way to personally and professionally derail an author like that. I mean really

If you attend enough real estate investor groups and especially lectures, you will notice none of them are perfect, real estate toughens people up more then they ever wanted, and they are all selling something like additional seminars or programs with CD's and all that. You can just go online and find almost all of the same info on your own for free. Its your choice.

I like Kiyosaki's work and I'm not going to go out of my way to diss his stuff. His books are available for free at most every public library so realize your not being swindled too much there. Kiyosaki does offer a very expensive seminar and people who have done it have told me its not worth it. Then again there are probably people who benefited by taking his classes.

I read Rich Dad Poor Dad when a friend recommended it to me in a raving kind of way. I read it unbiased, without any prior knowledge of what it was about or who Robert Kiyosaki was, just that "this book is really good for teaching you to think in a business kind of way".

And so I read it, and while reading it it gave off this subtle stench of bullshit, but I couldn't quite place my finger on why. It didn't seem to me that he wrote about any kind of outlandish tale and his "advice" did ring true (only because it's so banal and common sense), so it couldn't be that. Kiyosaki tried to write in this humble, self-reflecting way, but it felt like his humbleness was a very thin facade for an arrogant bullshitter. So I after I finished the book, it still didn't sit right with me. There was a feeling like something was off. I read 100 pages of a book and by all measures, I should have walked away with some new knowledge from that experience. But I didn't, because the book itself is hollow and doesn't say anything. It's very typical for self-help books in general, they spend massive amounts of pages and words to fire you up, give you some kind of mindset but always being careful to hide the fact that they're not saying anything. The hope is that you become so energized and motivated that you'll fill in the gaps yourself and then attribute those filled gaps to the book's wisdom.

So, that's where we are. Kiyosaki is a bullshit artist, simply because he hides the fact that his success came from selling those books, not from his real estate deals. His scam lies not in outright outlandishly lieing but in selling wishy-washy motivational self-help books as some kind of basic business mindset how-to books.

If you want general business knowledge about the mindset, you'd be advised to avoid this book and at least go for the true and tried classics: How to win friends and influence people, The games people play, The millionaire next door etc.

It's not quite bullshit. For those who grow up in academic families or white picket fence mindset it is a good introduction to thinking in terms of investments and cashflow. The problem is, all that can be said in 20 pages or less, and anything above that is just filler material. In addition, Kiyosaki let himself be bought by the MLM industry, which is why he recommends that.

[Bury Zenek]

(09-24-2016 06:06 AM)dispenser Wrote:  

I don't know why you're looking for evidence of two sockpuppets some guy used to tell a dull story.

I don't give a damn weather Rich Dad is real or not. I asked about the advice given. I got the answer. Thank you.

[slowpoke]

I read both about 8 years ago and were probably the first business/personal finance books I read.

Having read a bunch of other similar books over the years since reading this I wouldn't say they're anything special but likewise some of the stories offer good simple examples about the way that wealthy people think about money.

IMO this is the main thing that getting rich comes down to...mindset. Namely understanding you should work to build a business instead of working a job and invest the fruits of your labour instead of spending it on useless consumer crap.

Always liked the story about 'hauling buckets' from Cashflow Quadrant

[monerap]

Rich Dad Poor Dad in one sentence: Start your own business, don't work for someone else.

I recommend "Millionaire Fastlane" by MJ DeMarco. Great book.