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

**bopa media** · 07-24-2007 03:10 PM

Well since i was challenged to do so, in this thread i would like to discuss the creditability of Kiyosaki and his book.

Rules:
1. Statements must be supported by fact and not opinions
2. Dont bash each other...no personal attacks

Thats really it so let the discussion begin

**roadtoharvard** · 07-24-2007 03:32 PM

The proof is in the pudding:
http://abcnews.go.com/2020/story?id=1982669&page=1

One of my favorite lines from the story:

"And what did he teach our contestants? Kiyosaki says they learned to fail."

Maybe i should write a book with such ground breaking concepts. Keep on failing people! Keep on failing!

**jasaunders** · 07-24-2007 03:40 PM

Great article.

One quote caught my attention in particular "You can't take care of charity unless you take care of yourself first."

- This is probably one of the most awful, selfish comments I have ever heard. Millions of people dedicate their lives to helping others before themselves. Not everyone is in it for the big bucks. Some people have compassion enough to help others.

**jasaunders** · 07-24-2007 03:44 PM

I just came to a realization... I have read a lot of RK literature and repeatedly he says something to the effect of:

'I failed when I was XX years old and made a mistake, and when I think about it today, that was the biggest thing that changed my life and put me in the right direction.'

What's funny is that he has used this story many, many times. It is used in the above article and he uses it in a column he wrote for Yahoo this week. In fact, he went so far as to say that he passed up a $2 million investment a long time ago which is now worth $150 million, and that it was the best thing that ever happened to him because it taught him something. Yeah, I am happy too when I could have profitted $148 million, but instead I learn a lesson for next time.

**jasaunders** · 07-24-2007 03:48 PM

Does anyone have information on what large real estate investments and successful businesses RK has had and/or sold prior to 5 years ago.

It is my belief that he is rich and famous today as a salesman, someone who was able to sell tens of millions of books. And because of his success as a salesman in the recent past, he now has money for investments with people like Donald Trump. But going back 5-10 years when he was starting to become popular, did he really have any success?

**DXTINC** · 07-24-2007 03:50 PM

Although not all factual and probably a little biased it will at minimum give you something to think about: http://www.johntreed.com/Kiyosaki.html

**Cognition** · 07-24-2007 03:59 PM

Originally Posted by DXTINC

Although not all factual and probably a little biased it will at minimum give you something to think about: http://www.johntreed.com/Kiyosaki.html

To keep this all balanced, read Mr. Kiyosaki's response here: http://www.mastermindforum.com/kiyos...onsetoreed.htm

**Cognition** · 07-24-2007 04:03 PM

Originally Posted by jasaunders

Great article.

One quote caught my attention in particular "You can't take care of charity unless you take care of yourself first."

- This is probably one of the most awful, selfish comments I have ever heard. Millions of people dedicate their lives to helping others before themselves. Not everyone is in it for the big bucks. Some people have compassion enough to help others.

Well, it's not really selfish or awful. If you are in business to give money away, then you start a non-profit [and take advantage of that particular entity]. However a legitimate, for-profit business is NOT in the business of giving away money. Does that make sense?

**DXTINC** · 07-24-2007 04:05 PM

CDAllen please let this thread go without feeling the need to defend every single statement about Kiyosaki you dont agree with.

**Cognition** · 07-24-2007 04:08 PM

Originally Posted by DXTINC

CDAllen please let this thread go without feeling the need to defend every single statement about Kiyosaki you dont agree with.

I'm just attempting to bring balance to what is supposed to be a fair debate. If you didn't like that I provided a rebuttal [from Kiyosaki himself] then you're baby and really don't need to participate any further.

Thanks.

Still looking for that documentation however...lol

**jasaunders** · 07-24-2007 04:16 PM

Originally Posted by TheCDAllenGroup

Well, it's not really selfish or awful. If you are in business to give money away, then you start a non-profit [and take advantage of that particular entity]. However a legitimate, for-profit business is NOT in the business of giving away money. Does that make sense?

No, this does not make sense.
Obviously a for-profit business is there to make money, but RK's statement is directed at people, not corporations.

In the general sense, he says take care of yourself before giving charity. That is exactly what he said. While you can try to read into the implied meaning, I don't understand how you can justify giving advice like this.

Sure, not everyone feels obligated to give charity. Some people do, some don't. But I don't feel it is RK's place to dissimenate that type of advice, that you should take care of yourself before helping others. In fact, I don't think it is anyone's place to ever make this statement. I don't care if you are talking about business or not. Even if you feel this way, this isn't something you should press upon others. It shows an utter lack of character.

**bopa media** · 07-24-2007 04:22 PM

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

**Cognition** · 07-24-2007 04:27 PM

Originally Posted by jasaunders

No, this does not make sense.
Obviously a for-profit business is there to make money, but RK's statement is directed at people, not corporations.

No, it's not. It is directed to that man who was running a for-profit business. Stop attempting to read much into what wasn't even implied. He's talking about the guy's venture. In no way is he talking about a personal development issue.

Geez.

**Cognition** · 07-24-2007 04:28 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

There's an old saying [regarding computing] that goes like this: "If you put junk in, you get junk out."

Figure that out and you'll discover your answer.

**bopa media** · 07-24-2007 04:53 PM

I dont really think your saying matters as my point is pretty blunt, If he was involved in taking a company public his name would show up in their database. If he had a large investment in a company >5% it would show up in their database. Things he has stated he has done, but yet his name does not show up