hi all,
can anybody comment on robert kiyosaki's books?
Robert is an internationally recognised best seller. That's one sign that he does his research and gets it right. He also partners with many other top guru's and writers in a range of his books. They are all a good buy!
Yep; they're all great.
A bit "conceptual" and lacking "nuts and bolts", but inspirational.
I'm re-reading "Who Stole My Money?" right now.
hi marc,
who wrote '' WHO STOLE MY MONEY '' ? ,
is it one of robert .k's books?
is it about things to avoid, mistakes etc?
frosty1
Yeah . Who took my money is a great read . I've read it a couple of times . It came out in 2002 I think but is still very relevant IMHO . Any one read his latest book ? Raise your financial IQ or something ?? A lot of my books I have bought second hand on e bay for a fraction of retail price . Also shop at second hand bookshops and sometimes get books very near new …
I've just started reading his book Co-written with Donald Trump … 'Why we want you to be rich!'
There is a fair bit of research into Robert T. Kiyosaki on the net that indicates there is only evidence that he has ever made lots of money from selling his books, and that there is no evidence he has ever made money following his own books methods.
http://www.johntreed.com/Kiyosaki.html
http://en.wikipedia.org/wiki/Rich_Dad%2C_Poor_Dad#CriticismI think his books are great, and they have taught me many great lessons. There are always going to be people who are negative and try to 'cut down' people who have been successful. Surely he is to be applauded for bringing these great ideas into so many peoples life.
Cheers Banjo
thanks marc,
i am reading as many books as i can,
there are many available, and it's a great, easy, cheap ( from library), way to learn and get ideas and become inspired.
this forum is like a good book that never ends, some very good reading, helps you to come to your own conclusions.
also if something is not understood, you have the opportunity to ask questions, how good is that?
great to hear many opinions, helps to form your own.
hope to hear how you go with your business endeavour,
all the best,
frosty1
What L.A. Aussie says is so true. Mindset is where it's at. Always re-frame negative dis-empowering thoughts into questions. That gives the ability to seek an answer(s) and move forward. Focus on solutions not problems or circumstances.
Marc, on that theme of thinking big. There is a great book "The MAGIC Of THINKING BIG " by David Schwartz. If you haven't read it, I highly recommend it.
In the words of Disraeli….."Life is too short to be little."
I have robert's books:
Rich Dad Poor Dad, CASHFLOW QUADRANT, Rich Dad's Guide to investing, Rich Dad's Prophecy, Retire Young Retire rich, Who Took My Money?, Increase Your Financial IQ, Rich Dad's Conspiracy Of Th Rich, and Donald Trump & Robert Kiyosaki Why We Want Yu To Be Rich.I have found them to be very informative and very easy to read, the type of books you don't want to put down. They are repetative though. A lot of them show his quadrant – where people make their money – the employee and self employed in one side of the quadrant and the big business and investor on the other side. What he says is correct though, you make more if you own the big business and invest as opposed to being an employee of self employed.
The first book I read by Robert Kiyosaki was 'Rich Dad, Poor Dad', which was highly recommended by a good friend, and ever since then I've had an insatiable hunger for financial education
The book was inspirational, eye opening and taught me many financial lessons that I did not learn at school. Amongst one of the most basic but important lessons I learnt was the difference between an 'Asset' and a 'Liability'
- An 'Asset' is something that puts money in your pocket
- A 'Liability' is something that takes money out of your pocket
If it wasn't for this simple lesson, I'd probably be heavily in debt right now with many loans e.g. sports car, consumer debt, rather than aiming to invest $50,000 in mining stocks before the end of 2011
i like Robert's books and i have the children's version of the cashflow quadrant game. my children love playing this game and are enjoying learning the value of a dollar. My ten year old son was talking the other day and said that he wants to start working part time as soon as he can and buy a house. My seven year old daughter always beas me at this cashflow game!! Sad for me, but i know that they are learning some great financial lessons.
Two of the most important lessons are delayed gratification and research, if they want or need something, comparing prices from all sources before buying.
Rich Dad’s prophecy was particularly interesting reading. If he is correct, the US sharemarket will crash around 2014 as all the Baby Boomers start to retire and empty their 401k accounts. The thoughts behind his argument were very compelling. Knowing a sharemarket crash is coming including the likely timing is a huge advantage for wealth creation.
There are quiet alot of torrents you could check out.
He makes alot of good distinctions for me i have found his material valuable.
He has teamed up with a few people like Donald Trump. Worth checking out.
My post won’t be popular. I’ve read most his books and seen him speak. Banjo is correct he made no money from his own teachings: – his money has been made from writing books and public speaking :- )
He has lost a lot of credibility in recent years due to 'rich dad' being based on fictional characters and his involvement in network 21 (related entity to Amway). Most qualified people in the finance, accounting or legal sectors will say his teachings are simply flawed and incorrect and he is simply a motivational speaker. Sales people in Real Estate, Amway and other groups targeting the lameman investor use his books to hype up potential investors and make them feel smart parting with their money.Funny thing is that most of his supporters are in the lower social economic classes.
I think his books are great for the teenager / kids learning about money. If your want to be a sophisticated investor you can’t rely on what your learn in year 7 economics,
I'm in between the "rah rah" crowd and Banker I think.
Being given a copy of Rich Dad, Poor Dad when I was 21 was a turning point for me and I devoured the book in a couple hours. Between the first three books I can honestly say that there are some fantastic pearls of wisdom there that I use in every business transaction or investment. However…
…after those first three books I found he went off the deep end and is trying to sound too much like a guru or prophet. I got almost nothing of value from the other books and haven't even bothered with the last couple.
As others have said, fantastic start to a prosperous financial journey, but definitely not enough to get you there on their own.
Cheers,
AndyI would agree with Andy in saying only one or two of Kiyosaki’s are important for the reader who is interested in getting into real estate investing. The mindset change is what is most important in creating multiple streams of income, whether it is from owning small business, investments in shares/real estate, self-employment, or employment.
I found his success stories book quick handy in helping people understand the types of deals that are available if you look hard enough. The other book would be his main book “Rich Dad Poor Dad.”
I’m 27 this year and I read his books 11 years ago and began investing at the age of 21 in my first property. I would say there is value in his books on changing people’s mindset on not being an employee for the rest of their lives. Similar to other things in life, it’s important to review various specialist/gurus and form your own opinion on the strategies that suit you. Russ Whitney and Robert Allen are commonly criticised for their products, but there is some truth to what they preach and I would not have bothered investing in real estate without having read up on all the available strategies and then picking on. For me, it has always been purchasing revenue property below median house prices with high yields to ensure positive cashflow. The results have been good even through the GFC where property prices continue to rise (maybe not as quickly) and the positive cashflow is used to offset interest but also act as a buffer/contingency fund in case of future vacancies or repairs.
For those interested in other books, I’ve created an amazon reading list on my real estate investing in Sydney property blog.
Hi
RK's Rich Dad Poor Dad did it for me when I was around 18 yrs. Got me started on the investing journey. Years down the road in an heated debate, my best friend accused his books of taking away the old 'me' and that the current one is a fraud.
Regards
Daniel Lee
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