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9/22/2017 12:11:25 AM
Posted: 8/17/2005 9:54:06 PM EDT
Anyone read his stuff?

I know it sounds kind of hokey, but Rich Dad/Poor Dad changed my life..

Link Posted: 8/17/2005 11:18:26 PM EDT
[Last Edit: 8/17/2005 11:27:40 PM EDT by yellow5]
I've read it and Cash Quadrant (i think?).

It seems to be more of an inspirational text than anything. He does have some good solid advice, although some of his stories are pretty outrageous (joining the merchant marines to learn international business?? flying a helicoptor to become a leader of men??) and some are outright LIES. ETA: In depth criticism

Despite that it's worth a read IMHO, I would borrow it from someone though.

And for the record it hasn't changed my life . But I am unemployed and considering my own consultation service. I suppose this could stem some from his "refuse to work for anyone else" attitude he portrays.
Link Posted: 8/18/2005 8:59:40 PM EDT
I ain't a kiyosaki koolaide drinker, but you certainly pegged with the inspirational description.

I could not get through the cashflow quadrant, and I played the damn game which some friends had bought, and it sure as hell were not worth the price payed for it.
Link Posted: 8/20/2005 1:16:22 AM EDT
So how has it changed your life? Some of us still need business ideas
Link Posted: 8/31/2005 9:51:56 AM EDT
I largely agree with what John Ross wrote about Rich Dad, Poor Dad:

To my mind, Kiyosaki makes exactly one good point, and this is it: Look at everything you own. Which of these things are truly assets? If they are valuable but cost a lot to maintain and bring in no income (like a large residence with a big mortgage), they may not really be assets. If they are depreciating (like an expensive car) and also cost money in taxes, maintenance, and debt service, they are definitely not assets. Real assets appreciate and/or throw off income without draining your cash. Work on building your list of real assets and reducing your list of things that drain cash. Sound enough advice, but some of us figured this out by the time we were old enough to shave.

That’s Kiyosaki’s one good point, and would have made a good one-page magazine article. He’s flogged it for over a dozen books (so far) and cult status. There’s nothing wrong with that; it’s a free country and people keep buying his stuff with their own money. I would not normally devote time to discussing a book I didn’t find useful, but two things stand out about RDPD: A lot of people are reading it, and it contains some very dangerous advice. Some of the things he advises readers to do are flat illegal. Some advice makes claims about the tax code and securities laws that are wrong. Other advice uses meaningless feel-good sayings that encourage fiscally irresponsible behavior. A detailed analysis of this book’s shortcomings (including compelling evidence that much of what the author presents as his own "Rich Dad" history is utter fabrication) is on John T. Reed’s excellent real estate investing website at http://www.johntreed.com/Kiyosaki.html. Read it and have your eyes opened.

Note that Yellow5 references the same John T Reed webpage that Ross does. IMHO Reed does a great job criticizing Kiyosaki but gets a bit personal in his critique. Nonetheless it is a good read after you've read RDPD.

Link Posted: 9/6/2005 10:11:05 PM EDT
The guy is a lying douchebag, and you can thank Oprah for helping to make him famous.

I actually saw him on Oprah when he was on, and he was telling people who had problems getting money for a house downpayment to "not pay their bills for a few months to build up their cash."

Yes, he actually said that.
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