Rich Dad Poor Dad......creditability debate

**Power-C** · 07-26-2007 09:29 PM

I personally believe Kiyosaki meant only to interest people in Real Estate (mainly) and other forms of investment, and to think a little differently about conventional wisdom.
From that point on, they can read other books for more specific information on the subject they want.

**tnz917** · 07-27-2007 02:37 AM

Is this an 'Anti RK' cult? I mean the man has done lotsa good. A lot of people knows where they want to go and why they want to go there, take me for example. Before RK's book, all I could think about is how to secure myself a good job.

All great theories have faults. Give the man some credit. Let's see which weighs more, a million anti RK people or changing the life of 100,000. I think it is a great book for all begginers.

Pre RK, I would've bought a house when I got my first job. Pay all my salary paying for it. When I retire, the best I would have is 2 houses. Thanks to RK, I have friends who are already on their 2nd house at age 35. That is because they focused on increasing their cash inflow rather than the asset column.

Thanks to RK, I have stopped spending my money on doodaas. So give the man credit for what he achieved instead of magnifying the shortcomings.

**Cognition** · 07-27-2007 02:44 AM

Originally Posted by tnz917

Pre RK, I would've bought a house when I got my first job. Pay all my salary paying for it. When I retire, the best I would have is 2 houses. Thanks to RK, I have friends who are already on their 2nd house at age 35. That is because they focused on increasing their cash inflow rather than the asset column.

Thanks to RK, I have stopped spending my money on doodaas. So give the man credit for what he achieved instead of magnifying the shortcomings.

I get so blessed to hear stories like these. I am sincerely glad that you have understood and taken action to changing your thoughts from the "consumer mindset" to the investing and cultivating of personal wealth.

Congrats!

**BMOC** · 07-27-2007 05:23 PM

Originally Posted by bopa media

Hmm odd how when i go to the SEC's website and search Kiyosaki it returns NOTHING, yet he claims to have taken multiple companies public and be large share holders in others.

here's my search link, dont know if it will work but it's simple you can try yourself

http://www.sec.gov/cgi-bin/txt-srch-...ance&sort=rank

I typed in "Jack Welsh" and got "no documents matched your query."

**Cognition** · 07-27-2007 05:56 PM

Originally Posted by BMOC

I typed in "Jack Welsh" and got "no documents matched your query."

Unfortunately you got his name wrong. His name is spelled Jack Welch.

**mstrjon** · 07-31-2007 03:44 PM

Originally Posted by bopa media

Watch the show on CNBC with all those "millionaire mentors" he's talked about it several times

Well if you read Rich dad's Guide to Investing, he writes that he has been working with "Peter" (not his real name), to bring companies public. He has only worked with private companies. He also states that he wants to become an ultimate investor to bring a companies public and he only worked on international ventures that were on the canadian exchange.

**Cognition** · 07-31-2007 10:17 PM

From a Rich Dad's Guide to Wealth broadcast on PBS:

"In 1986, they [Congress] passed the Tax Reform Act, and they taxed all doctors, lawyers, accountants - all the 'A' students, they nailed them."

[Laughter from audience]

"Well, the attorneys I don't mind. [RK laughs himself] Well anyway... But what happened was that guys like me - the 'C' students [entrepreneurs], can make more money and pay less taxes than the 'A' students... Which proves there's a God somewhere."

[Riotous laughter from audience]

I sure do love Robert Kiyosaki.

**George** · 08-01-2007 07:34 PM

I haven't read the entire forum, however, from brief skimming, by the looks of the comments, it seems to be a big gap between likes and dislikes.

I've read a few of his books and played the Cashflow game and like it or not, it was entertaining nonetheless.

I believe that information out there is up for anyone to digest, but it is up to your common sense to decifer what is good information and what is bad. No one can tell you exactly what to do but yourself as the ultimate decision is your own.

So in terms of Robert Kiyosaki, believe him or not, I am really split right down in the middle as I've learnt some points from him, while there are other points that I feel are just basic common sense.

But one thing is for sure - may it be his past businesses being successful or not (if there are no solid evidence stating so), what is important is that he's a lot more popular than probably most of us on here.

And the fact that there is even a discussion about him and his "best seller" books is enough to prove that CURRENTLY, he is a millionaire just living off of his current franchise.

He's reached that stage through passion, ambition, and of course, luck as well. So all in all - he did what he did to get to where he did and that's definitely 10 times more than what I've done so far, but it just gives me enough inspiration and motivation to get to where I want to.

**Cognition** · 08-01-2007 09:08 PM

Originally Posted by George

So in terms of Robert Kiyosaki, believe him or not, I am really split right down in the middle as I've learnt some points from him, while there are other points that I feel are just basic common sense.

You'd be surprised how some of those "basic common sense" points in his book [and other financial self help books as well] are revelation to the masses of financial incompetent households in this nation.

**George** · 08-01-2007 09:35 PM

Originally Posted by TheCDAllenGroup

You'd be surprised how some of those "basic common sense" points in his book [and other financial self help books as well] are revelation to the masses of financial incompetent households in this nation.

Unfortunately, not everyone can be perfect - not even Robert. Common sense sometimes derives from the basis that "one would want to learn" but due to their current situations, family situations, upbringing's and hundreds of other unfortunate situations to be in, one may not be as educated or experienced as they would like to be.

Not everyone will have that common sense, nor would common sense be a natural talent. Common sense comes from experience of which a lot of people lack different types of experiences of that Robert may have gained over the years.

Because it's common sense to me, doesn't necessarily mean it's common sense to someone else.

So my derivation of common sense comes from the point that Robert and I see eye to eye upon to others who would see it the way I do.

Don't get me wrong, there are also the definition of incompetent people out there, but that doesn't mean that people who doesn't have common sense are incompetent - financial, work experience, business management or whatnot.

In the end, no I wouldn't be surprised, but I wouldn't call the masses financially incompetent - just uninformed.

And that's exactly what Robert is trying to do - teach; educate, inform.

**Cognition** · 08-01-2007 10:01 PM

Originally Posted by George

And that's exactly what Robert is trying to do - teach; educate, inform.

And I applaud him for doing so. I don't know for anyone else, but this ol' boy will never be the same again.

**Xanifur** · 08-01-2007 10:23 PM

I just read Rich Dad Poor Dad.

I had to go to the library and pick up Rich Dads Prophecy and Who Took My money?

I like the way he gets you to think. I've never thought that way before, its like opening up to a whole new mindset.

**Cognition** · 08-01-2007 10:57 PM

Originally Posted by Xanifur

I just read Rich Dad Poor Dad.

I had to go to the library and pick up Rich Dads Prophecy and Who Took My money?

I like the way he gets you to think. I've never thought that way before, its like opening up to a whole new mindset.

Y'know, Prophecy came out in 2002 and all the so-called financial experts, gurus, and economists [I call them intellectual jerks] laughed and publically criticized him about the book, primarily about the subject of the demise corporate pensions plans. Well in 2005, Time magazine and the New York Times both came out with from cover story and front page articles on the very same subject [that Kiyosaki didn't know anything about three years prior].

Let's you know who's ahead of the game.

**Aletheides** · 08-02-2007 07:34 PM

Originally Posted by TheCDAllenGroup

You'd be surprised how some of those "basic common sense" points in his book [and other financial self help books as well] are revelation to the masses of financial incompetent households in this nation.

You hit the nail on the head there.

**Aletheides** · 08-02-2007 07:34 PM

Originally Posted by Xanifur

I just read Rich Dad Poor Dad.

I had to go to the library and pick up Rich Dads Prophecy and Who Took My money?

I like the way he gets you to think. I've never thought that way before, its like opening up to a whole new mindset.

Welcome to Entrepreneurdom - there is no turning back lol...