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Posted: 3/28/2006 4:05:44 PM EDT
If so what do you think? I have been reading some of them and listened to some of his audios? Everything sounds good and makes sense. He talks a lot about network marketing, anyone know some of the better/proven companies out there?
Link Posted: 3/29/2006 5:14:09 AM EDT
I've read a couple of the rich dad series. Basically it helped my wfe and I to become big savers instead of big spenders. His real estate example might work at his level and location, but not where I am. Crunched all the numbers and still would be short lots of money even with 100% rental. I'm sure I could make it work but was not interested in the time and work required. Still it is good knowledge and I might use his ideas in the future but not now
Link Posted: 3/29/2006 6:24:07 AM EDT
I despise multi-level marketing and high-leverage real estate, but he does give other information that is good.

My favorite of his so far wasn't written by him, but is in his series, Tax Loopholes of the Rich by Kennedy. It has a pretty good explanation of Corporate structures and reasons for using each one, plus a lot of good info on write-offs.
Link Posted: 4/1/2006 12:19:18 PM EDT
i liked his book. im more into stock investing though, i read investors business daily every day.
Link Posted: 4/1/2006 5:37:37 PM EDT
I haven't read his books, but while reading about MLM scams one day, I stumbled across this site:

http://www.johntreed.com/Kiyosaki.html

So Kiyosaki may help you, but I'm under the impression there are better people to learn from. And just taking the initiative yourself may work just as well.
Link Posted: 4/3/2006 8:59:43 PM EDT

Originally Posted By SvenDOlsen:
I haven't read his books, but while reading about MLM scams one day, I stumbled across this site:

http://www.johntreed.com/Kiyosaki.html

So Kiyosaki may help you, but I'm under the impression there are better people to learn from. And just taking the initiative yourself may work just as well.



While I think Kiyosaki is a hack (with some good ideas though), Reed is a holier-than thou shithouse critic of pretty much everyone. A real asshole.
Link Posted: 4/4/2006 12:53:51 PM EDT
We should probably have a sticky on Kiyosaki because this comes up about once per month.

Anwyay I largely agree with what John Ross (author of Uninteded Consequences) 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."


I'll add that Kiyosaki has also brought about the understanding of how a corporation shields one's personal assets from lawsuits, loss, etc. I think there was value in spreading that. Beyond this thought there's not much other value in his books. Many of the books are just re-hashing the same info, often in an unstructured way with new matrices, graphs, etc. He's also light on the nitty gritty "how to."

Also I think John T Reed does a great job criticizing Kiyosaki but gets a bit personal in his critique. Nonetheless his website is a good read after you've read RDPD.
Link Posted: 4/4/2006 12:59:01 PM EDT
[Last Edit: 4/4/2006 1:00:02 PM EDT by Hartmann]
Docsprague:

I just re-read your post and saw this:


Everything sounds good and makes sense. He talks a lot about network marketing, anyone know some of the better/proven companies out there?


Let me tell you, STAY AWAY from "Network Marketing." I was involved as a supplier to the major Network Marketing companies and I can tell you that less than 1/10 of 1% of the people involved ever actually make money. And the rest of the "downline" -- people like you -- LOSE A LOT OF MONEY.

Don't believe me? Read this guy's free book on his experience at Amway/Quixtar -- he rose to very high levels before he saw the sham that it was. I do not know him, do not receive benefit of any kind from him but I can tell you from my exposure to these groups that what he says accurately reflects what I saw.

I urge you to read his book and then if you still think NM is for you, go for it.
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