What do people here think about Robert T. Kiyosaki?
Is he a conman or just a really good salesman – primarily a creature of Amway and other multi-level marketing organizations?
I read this review on him by respected guru John Reed who has been on a number of TV shows like 60 Minutes, Good Morning America, Larry King Live; and in various magazines and newspapers like Money, the Wall Street Journal and Personal Finance magazine.Have a look at his review at:
http://www.johntreed.com/Kiyosaki.htmlMakes very interesting reading where he states that “Rich Dad, Poor Dad is one of the dumbest financial advice books I have ever read. It contains many factual errors and numerous extremely unlikely accounts of events that supposedly occurred.”
Examples include:
“As to the whereabouts of Rich Dad—at one point, Kiyosaki tells Smart Money that he died in 1992. Poor man.
Later, he says Rich Dad is still alive, but a reclusive invalid. Uh huh. So how to explain Kiyosaki applying for a trademark on Rich Dad Poor Dad and telling the U.S. government under penalty of prison that the phrase refers to no living persons?
Later, he tells Smart Money that Rich Dad was a composite of several persons.
Finally, he gets angry at Smart Money. “Is Harry Potter real? Why don’t you let Rich Dad be a myth, like Harry Potter?”
That would be fine, Robert, just as soon as you remove Rich Dad from the non-fiction best seller list and go over and compete with Harry Potter on the fiction best-seller list.
So I guess the final word is that Rich Dad is as real as Harry Potter. I suppose that, in turn, means that the way to become financially independent is to get a magic wand—or to write book about fictional characters who did.Kiyosaki: “In 1977, I formed my first company.”
Reed: “Whenever I meet a guy who brags about starting multiple companies I always wonder what was wrong with the first one. Were Hewlett and Packard a couple of losers because they only started one company?”~ better to die on your feet than to live on your knees ~
Hi Quentin,
Regardless of who Robert Kiyosaki truly is, I think one thing is much more important:
John T. Reed attracts visitors to his website by slagging off about his competitors. He sells his own products, and in a couple of his attacks on others he recommends his own products. He is completely closed-minded on many topics, and tries to make himself look good by putting others down.
Other than that, why worry about what everyone else thinks of Kiyosaki? Read it and worry about what you think about it. His book “Rich Dad, Poor Dad” got myself and countless others started, regardless of how much of the story was fiction or non-fiction. The principles he tells you to follow are sound, and the book should be treated like any other book or seminar (or “guru”) – get whatever you can out of it, and don’t lessen it’s value because some negative person is trying to hold the world back and sell some products at someone else’s expense (would you have ever heard of John T. Reed otherwise?).
I’ve been to one of Kiyosaki’s seminars in 2000 which showed that he is physically doing exactly what he’s teaching you to do. Would I go back a second time? I doubt it, I’ve already received most of what he has to offer.
Concentrate on keeping your own integrity at an impeccable level, and don’t worry about the “gurus” too much – their level of integrity with create their future, so if Kiyosaki is a “conman” then he will have a disastrous future. If he lives by integrity, he will have a prosperous and happy future.
Kind regards,
Marcus.Hi Quentin,
Interesting assessment thats for sure [
]About 8 months ago a good friend of mine gave me the book “Rich Kid, Smart Kid” written by Robert K. For those who havent read the book, its general aim is towards educating your children about money and trying to give them a head start in life by teaching them sound financial principles.
This was the first book I had read regarding the subject of finances. After reading it I started to get very movitated and proactive towards my finances. I then read a further couple of books by Robert, ‘Rich Dad Poor Dad’ and ‘Rich Dads Guide To Investing’. All three books (and perhaps others by the author which I havent read) present a very ‘simplistic’ view on the subject of finances and wealth creation. They also seem to maintain a strong motivational theme throught.
This is not necessairly a critisism, as I believe Robert has a good ability to communicate his message in a way that inspires others, and I am sure most would agree that motivation plays a strong part in achieving our financial goals in life. On the down side I think his books remain a little too ‘simplistic’ and light in their detail. ‘Rich Dad Poor Dad’ did a great job of inspiring me, and I went out and bought the ‘Guide To Investing’ hoping to start getting into the ‘nitty gritty’ of strategies, techniques and so forth, however I was quite let down at the lack of such details. There were certainly some useful parts, such as reliasing the ‘magic’ of making mistakes (ie. the give us an opportunity to gain new knowledge) but for the most part it is all common sense, even for a person of my limited financial understand. (ie. its not smart trying to live paycheck to paycheck)
Personally, I dont think Robert is out to ‘scam’ anyone. I genuinely believe that he wants to help educate people about money and wealth. Yes, his books are motivationaly-orientated and at times vague with details, and yes, I can see how he may come across as simply trying to sell his books/courses/tapes etc, but at the end of the day I think you have to make up your own mind about him. I’ve read John Reed’s detailed analysis of Robert, and he makes some valid points. He seems to come across with a ‘chip on his shoulder’ to me, but perhaps that is just his passion on the subject matter.
Interestingly enough, I was recently looking around the ‘Wraps R Us’ forum here, and I noted one user’s post to Steve that their request for more detailed information was met by a ‘buy-my-book’ kind of response. The comment was made politely, and Steve subsequently answered with his reasons (which were fair enough), but it just goes to show that there is nobody out there who tries to educate people on the subject of money/wealth that EVERYONE agrees with. Will Steve later go on to appear less and less in the forums to instead be out promoting his latest book and/or seminar? I don’t know, though I certainly hope not.
Not just yet anyway [
]But I believe Steve, like Robert, does have a genuine desire to help educate people about investing and wealth creation. The information I’ve gathered from Steve, this site, and people on this forum has been absoutely fantastic, and a lot more ‘appropriate’ (being Australian) than what I have gleamed from Robert’s materials, but at the end of the day it was picking up that first book by Robert which motivated and started me on this financial journey, and if that journey does lead me to accomplishing my financial goals, thens that gotta be a good thing. [8D]
Regards,
Brett []“Even if you’re on the right track you’ll get run over if you just sit there.”
Hey all,
I just had to have two cents worth here. I am a firm supporter of Robert Kiyosaki. Not because he showed me what to do but because he inspired me to get out there and try and do it myself. The book was simplistic in many ways but that was the beauty of it, it allowed me to fill in the blanks. There is no doubting he has made a fortune from them but good on him as he was clever enough to service a niche market that was growing rapidly. Whether Rich Dad is alive or not is of absolutely no consequence to me because the book started me thinking outside my paradigm. As marcus said he would probably not go back there as it is simplistic but for where we all are at some stage in life that book (for many of us) was the catalyst that started a chain reaction.As to Steve, I think he will always be here as this is his passion. If you don’t believe me then talk to the guy and find out for yourself. Like Kiyosaki Steve challenged me at a time when I needed the prodding and he showed me enough to make me hungry but then told me to go get it myself. Without that prodding I would probably still be playing shares or else just sitting around wasting my time. Instead I feel much more complete and enjoy my time and the challenges life now brings me.
As Brett says if this is what started me thinking down my pathway to success then it has to be a good thing. I say Thaks you Mr Kiyosaki for writing your books and I gladly give them out to people who have not read them.
Enjoy
AD [:0)]“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day, put no trust in tomorrow.”
-Horace, OdesIf we were all as afraid of inaction as of being conned (ie making a mistake) our results would amaze us. [
]Quasimodo
___________________________________________________________________________
Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________Quasimodo
SENSATIONAL call !!
the B
Geez, that article really goes to town on him.
I only recently read the book and actually assumed that the “rich dad” was most probably fictional. I mean, the whole thing makes little sense, especially how he seemed to actually take so long to heed his advice. Also, the “lessons” drummed into 2 9yo boys seemed fanciful.
Having said the above I believe his book is quite motivating. It is short on detail and over simplistic but it can be inspiring.
The most beneficial lesson is on the difference beetwen liabilities and assetts. I think that of the book is the most useful.
There’s my 2 cents. [
]Hi,
Interesting discussion.
My thoughts on the Rich Dad thing is why let the truth get in the way of a good story?
Does it really matter that Rich Dad is fake? Only if Kiyosaki first made out that he was real in which case it is a personal integrity issue.
I believe that Kiyosaki’s value is in the output of his teaching methods. I doubt I’d be where I am today if I had not read and acted on his material.
It makes no difference to my results or my opinion of Kiyosaki as an educator if Rich Dad is a fictional person.
But it does change my opinion of Kiyosaki as a person.
As for Mr Reed… once again, some solid points, but I’d imagine that Kiyosaki has had a much more positive impact on people’s lives than Mr. Reed.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
I think Robert’s approach of being simplistic is quite deliberate. How many books out there have similar motivational qualities, twice as much detail, yet they’re only another one on the shelf? It’s the books easy reading that helps remove the fear factor and complicity most people expect when entering the world of investing.
And as for a conman?? Common, a man who has made his fortune by finding a way of helping more people fits perfectly into the picture of a successful entrepreneur, a good businessman, not a conman. Also, how many conmen do you know that donate a minimum of 10% of their income to charity?
Hi folks
I just love adding 2 cents[
]Well I personally enjoy reading his books and am currently reading my third (Retire Young, Retire Rich) and I beleive in taking most things for face value, he never said he was going to write a text book. Like Steve, Robert’s books have motivated me into action, that is worth the price of a book.
As to whether rich dad is real or dead, I dont care much (except that you have shattered my illusions that he is real, and thanks for that[
]) I also think depending on your stage of investing, experienced/inexperienced you do get detail out of his books you just have to look for it, it’s there often diguised in a story about his own experience.By the way, let’s not forget that he also has other products in his range, such as the cashflow board games, and I read a comment by Dale Gunther-Goss (Melbourne Accountant) that the board game “blew him away”. So there is more to this “conman”.
There!
Leigh K
“If you will take on your self-doubt and laziness, you will find the door to your freedom.”
-Robert KiyosakiHey Leigh is that Dale Gunther-Goss or Gatherum-Goss ??
Just a nother thought. Another personal favourite of mine is “The Richest Man in Babylon”. Now I am fairly certain that this is fictional but does that matter. Not on your life. This little book was a real eye opener and I will be giving many copies away to friends. Also another one I liked was “One Minute Millionaire”. Another great fictional story but encouraging and challenging none the less. I suppose throughout history people have used parables to teach a lesson. Jesus Christ used them all the time and look at the masive following he has today. I guess we all like to learn through stories of others. It somehow makes it personal and achievable (applicable even).
Have a great week everyone. I am off to Sydney and Newcastle for a holiday. (So I may be a bit irregular with postings).Later Days….
Enjoy
AD [:0)]“Carpe diem, quam minimum credula postero.”
Lat., “Seize the day, put no trust in tomorrow.”
-Horace, OdesHave fun AD.
I find you to be the most helpful person on this site.
You deserve a good break. [8D]
Bugger, I even checked the spelling of Goss!
Cheers
Leigh K[]“If you will take on your self-doubt and laziness, you will find the door to your freedom.”
-Robert KiyosakiActually Leigh my beautiful wife and two lovely girls deserve a good break. They sacrifice a lot for me to be able to do what I do. Thanks for the thoughts.
Enjoy
AD [:0)]
(Andrew)“”Imagination is more important than knowledge. Knowledge is limited. Imagination encircles the world.”
Albert EinsteinI really liked “Illusions” by Richard Bach – another fictional story that motivates.
Kiyosaki’s books are good for motivation but little else. The content of Kiyosaki’s books could be summed up in a couple of paragraphs, but obviously the royalties would not be there.
Kiyosaki has made a lot of money from his ability to motivate and impress the masses; and milks every dollar he can from books, boardgames, tapes and seminars.As a lot of people have mentioned, they needed someone like Kiyosaki to motivate themselves – nothing wrong with that, as long as they got motivated and realised that the “rat race” thing is not for them.
~ better to die on your feet than to live on your knees ~
I frequently read this forum and others. As yet feel that there is so much that I dont know that I am not in a position to comment. But this topic is raised frequently and I feel that people who read RK books read them with the view to finding a quick and simple answer to financial freedom. I personally, as many above have, believe that without this book I would be still trying to decide how to invest the tax free dollars we earn and in fact would not even have a plan to get started down our pathway.
I feel that the RK books take readers to a critical level of thinking which challenges them to consider where they financially are and where they want to be. To achieve this level of thinking and be successful you then need to go and educate yourself further by asking questions, talking with others and having a go.
I feel that if RK books have done this then they have achieved what they set out to do.
All those who have taken the RK books and acted on them have entered on their journey of critical thinking and as a result achieved their financal goals well done. I am just starting.
Tamara
Hi,
I have also read some of Roberts K’s books, I thought they were enjoyable, if fact hard to put down once started.
It saddens me to think that “Rich Dad” might not be real- I loved the idea that A Rich person took the time and effort to tell another how to become rich.I would love that luxury! I gladly read these “motivational” books, than listen to the never-ending advice I get like “you’ve got to work hard for money” or “what! Money burning a hole in your pocket?!” Or better still “you paid WHAT! cos the only person getting rich is them, you know!” Sound familiar?
Like many others here on the forum, I have had the wakeup call that it’s time to change. To start planning and more importantly it’s time to start taking action.We must learn how to create wealth and become financially free.
Sandi [][
]I really enjoyed RK’s books and when I have the opportunity to play the game I will have a go! I think that the books I have read are great for motivation to earn the “passive” income most of us are interested in!!!***************
Tracey Imbuldeniya
Authorised Finance Consultant
Mortgage Masters Pty Ltd
Ph: 0401 674464
Email:[email protected]He certainly charges a hellof alot of money for his seminars.
I also found the constant references to rich dad/poor dad unsettling in my reading, a lot of repetition and thinking to myself, when is this man going to drop the “rich dad/poor dad” line and just get to the point.
Apart from that, if he has motivated people to get out there and do something, well great.
I do object to him not acknowledging education as valuable, research has shown that an education of the tertiary variety does indeed contribute to personal wealth creation.Ouch!!! That guy Reed sure is bitter. Perhaps because RK sells heaps more books than he does?
Well, I’ve read heaps of RK books. In fact Rich Dad Poor Dad as well as ‘Losing my Virginity’ by Richard Branson would be the most inspiring books to do with taking control of my finances (RK) and thinking like an entrepreneur (both!) that I’ve ever read. Rich Dad Poor Dad is more about the principles of moving beyond what I call ’employee-consciousness’ and into ‘investor-consciousness’. I completely get how his ‘poor dad’ could actually be well educated, have a top job, but still be ‘poor’ as RK describes it.Anyway last but not least, I think RK is one of the few financial teachers that understands money as energy, in particular the need to give a certain proportion of your money away.
This is a bit of a deep subject in itself with connections to ‘tithing’ in many religions, but I have found that it is absolutely necessary and part of ‘flow’. Actually, i can’t really explain it.
However it does set Kiyosaki apart from many of the others, as a ‘service to others’ kinda guy, rather than just to himself.I really think that he has a calling to be an educator just like his Dad had before him, and that that’s his real motivation for writing educational books. I don’t think he knew when he wrote them that it was going to take off like it did. In fact he had to self-publish at first!
bye for now- looking forward to seeing everyone at camp, AKA the melbourne seminar!
cheers-
Barb
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]) I also think depending on your stage of investing, experienced/inexperienced you do get detail out of his books you just have to look for it, it’s there often diguised in a story about his own experience.
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