A Challenge To Followers Of Rich Dad Poor Dad
Hello,
In a recent article on this site, the Rich Dad Poor Dad series by Robert Kiyosaki "scored" extremely high, with many of his books being read by members of this site.
Many, many, many posts have stated that these books are "life changing".
I personally have never read any of his books and never will, because I believe all of his "teachings" are either common sense, meaningless cliches or incorrect information. I base this solely on what I have read posted by people who strongly believe in his "teachings".
Basically I believe he falls in to the category of "evil guru"; who made his money, not by following his own advise, but by getting individuals to buy his books.
So my challenge is simply to show anything that he has written that has been life changing, but is not common sense, meaningless cliches or incorrect information. There should be hundreds.
Now this whole challenge is just for fun. I believe a person should be able to defend their beliefs when questioned and if they can't, they should re-examine those beliefs.
And just to start you off...I am going to get people who say "he doesn't give you a point by point plan, but he motivates you". And I say...hogwash, you bought the book for information, not to motivate you. You didn't randomly pick the book up and then (to your surprise ) find out it was about finances (or RE), you bought it looking for answers.
Please don't respond with that answer.
Evil Guru? What a good idea! I hadn't considered that by putting together a book of common sense and meaningless cliches that I could make tens of millions of dollars, possibly more, and also have millions of followers that I had duped into paying for these "teachings"
If you had even bothered to pick up one of these books and read it you would know that he has followed his own advice even if only by becoming an "EVIL GURU" and getting individuals to buy his books.
Your challenge is a lame waste of time by an angry little man that wishes he could write a book that people would pay money for.
I believe that a person shouldn't have to defend their beliefs, especially not to some imbecile that hasn't even taken the time to prepare a logical argument by even opening one of the books he questions, and exploring it for himself
I bet you are one of those guys that wants the phrase "in God we trust" removed from U.S. Money because people have no physical evidence (that you would accept) to back up their belief in God.
Many of us here spend lots of money on books to motivate and inspire us. If you can't think of anything better to post here you should re-consider your priorities and try to find meaning in your personal life before you come whining to us.
You may now consider yourself back-handed by a newbie.
Bruce,
Did someone get to your Post Toasties this morning?
The answer you just received will be a typical, when you start calling people names.
I have not read any of his books but would defend his right to write them and to sell his products.
Your post will contribute nothing to a postive attitude in this community by helping anyone, it has no value in providing an awareness of creative real estate investing.
Bruce, you have been here long enough to know what this board is all about, cut a little slack here and think about it.
John $Cash$ Locke
Bob Allen is the closest thing to evil guru I can think of, but Kiyosaki sells good information.
And you are wrong Bruce, because Robert Kiyosaki has built MANY profitable businesses, had a few that failed like every entrepreneur and is a highly successful (with his wife) real estate investor.
Specifically, he helped me to see the coming crash in about 10 years in his book "Prophecy" and that now is the time to prepare a "financial ark" for those times.
Quote:
plus a few in his Advisor's series. They do have a lot of good information in them. Much of it may very well be what you would classify as "common sense", but our own prior knowledge and experience has a strong influence on what we call common sense. For example, there are many things about driving a car that we would think of as common sense. Perhaps you've seen younger children playing at "driving" where they turn the steering wheel back and forth quite a bit. We know that if you actually drove a car that way you would end up with problems (nauseous passengers, in the ditch, pulled over for suspected DUI, etc.) But that child doesn't have the knowledge that we have as adults. We also know, by common sense, that hugging the center line is asking for trouble. I took driver's ed with a girl, though, who wanted to drive with the left tires almost on the line. (I hated riding with her!) The instructor was finally (it took a while) able to convince her that it was a bad idea and to drive in the center or further right.
On 2004-01-12 10:47, Bruce wrote:
So my challenge is simply to show anything that he has written that has been life changing, but is not common sense, meaningless cliches or incorrect information. There should be hundreds.
I've read a couple of his books ("Rich Dad, Poor Dad" and "Cashflow Quadrant"
My point is that many of the concepts (cashflow patterns, tax advantages of being a business owner, good debt versus bad debt, etc.) are starting to feel like common sense to me now, but when I read them for the first time it was like a light bulb turning on. I simply wasn't aware of some of the facts and/or hadn't thought of it that way. I'm currently trying to get my wife to understand the difference between investment debt and debt for buying "doodads". It seems like common sense to me (e.g. pay 5% interest on a loan to get a 25% return on the value of the whole house), but she still views all debt as bad debt. After we get that 25% return on the house I'm buying (rehab & retail) I'm hoping the light will come on for her, too.
Yes, there are also some things in RK's books that I believe are fictional or dramatized for illustration. And some of the concepts I don't necessarily agree with 100%. But there is definite value to someone like me in getting them to examine their financial situation from a different angle. And that's exactly what those books did.
[addsig]
Go Bob_schmit! I agree with John, if people just start slamming others here, and bad mouthing all the books out there, then I am sure lots of people will get tired of this and begin to look for another place to learn in a more POSITIVE environment. This type of slam is usually from someone who feels they got taken, not from someone who just feels like slamming an author. If Robet Kiyosaki did something to you Bruce, maybe you should take up your problem with him, like most men would do. If not, why not leave him alone and find something valuable to contribute to this site. I feel the moderators should take this post down as not to cause dissention in the ranks here. This type of post is not supposed to be allowed, if you read the rules. I hope you work out your issues and can be an active and positive part of this site in the future. I personally have enjoyed many of your posts until this one. I feel you are totally out of line with this. Just my opinion.
I concur with the follow up posts: bad form in the original supposition (although 'Evil Guru' has a nice ring to it).
IMHO, the RDPD series does have a lot of redundant info from book to book (good marketing guy). It also espouses a very consistent, sound philosophy that a helluva of a lot of people would be better served by using in the their financial futures instead of the financial ignorance most people are comfortable with.
If you get ONE IDEA out of a $13 book that ultimately makes you $1000s in the future, wasn't it worth it?
Mark
I don't think I've ever read where Robert K. proclaimed himself to be the know it all savvy investor. He is a "Best-Selling Author" Underline, selling. So he made some money on a couple books....so what. Remember, Common Sense Isn't Common.
He opened my eyes to this investing world, so I do give him credit. He was not the one who taught me how to invest, but he was the start.[ Edited by nebulousd on Date 01/12/2004 ]
Hey Bruce,
I'm going to fall more in the middle here. Depending on your background what you get out of Rich Dad, Poor Dad could vary a lot.
When I read it I didn't find any step by step plan to wealth, but I wasn't looking for one either. I've ran my own businesses most of my life so I'm not really in the dark when it comes to entrepreneurial ideas, however, I could see how for a lot of readers of the book how they could get a lot more out of the book, for a lot of people the basic concept of the book may be the first time they are being exposed to it.
Reading the book, about 30 pages into it I began doubting that this was a "True" story, after another 30 pages it didn't matter to me if it was or wasn't.
The book is really a couple hundred pages to illustrate one simple idea or concept, which is to become wealthy you have to purchase ASSETS.
I think the concept is as simple as that and if all anyone ever takes away from the book is that, then they have gotten their moneys worth.
I too find his other ideas pretty rudimentary such as his cash flow quadrant and such, to me that stuff is so basic and a concept that I have understood and followed since I was about 18 years old that I wouldn't purchase his other books, but for some people I can see how they could benefit from his other books if they are just being introduced to these concepts in their life.
Is Rich Dad Poor Dad the bible of real estate investing? Is it a step-by-step guide to wealth?
I don't think it is any of those, but I do think that for a lot of people it is an introduction to a vital concept that is not taught to anyone in school, and is valuable to people for that reason.
The other book that I think falls under the same category, as being an EYE OPENER for a lot of people is a book called THE MILLIONAIRE NEXT DOOR. It isn't a step by step or get rich quick book either but describes the qualities and traits of America's millionaires based on actual surveys and facts and interviews.
The majority of American millionaires and how they live, and how they got to be millionaires will be astounding for some people if they read that book, but it confirms my investment beliefs to a tee.
Bruce,
Your ignorance proceeds yourself. Never start a thread with ‘even though I have never read those books, they are stupid’… That is stupid.
Personally, I have read and own many of his books, and can see why you say what you do, however. I see a lot of it as common sense, and the motivation ain’t worth the paper it’s written on if not acted on.
I think your problem is that you want the step-by-step secrets to being rich, and since Robert doesn’t give it you’re going to denounce his writings as useless. So be it.
I don’t think Robert’s intention was to teach someone a step-by-step method, mainly because no such thing exists. I think Robert attempts to motivate, but I never went away from one of his books with the motivation to run out and buy a house, stock, or other investment.
What I did take away from his books, however, is the realization that ppl are not bread or educated to become rich. Simple enough concept to understand, but understanding something and grasping it or fixing it is not so easy since it really requires a complete reconstruction of your mind and the way you think.
Robert encouraged me to learn about my own finance and financial planning. He made realize that it is words that hold power, and that if I don’t know those words I hold no power over my money. Instead, some fool who knows only those words will have control of money. So, if he encouraged me at all, it was to learn about finance and investing to benefit myself, to be comfortable talking about money, to be comfortable spending/making/earning money… Maybe not in your world, Bruce, in many people’s world the thought of money, investing, and savings scare people. Words such as mortgage, interest, depreciation, inflation, asset, and liability scare people or catch them off guard. Robert tells us “ordinary” people not to be afraid of it, understand it and you will learn to control it. He doesn’t say ignore it, instead do THIS and make lots of money.
Other books approach the same ideas in different ways. Many approach the “secrets to being rich” as change in lifestyle. Robert knows that such a change is almost impossible unless you change that person’s train of thought first, and that is what he tries to do. Whether or not he can successfully change yours, or whether you even need a change is up to you to decided. Yet, Bruce, please don’t come on to these boards and attack someone who has meant a lot to many people here, especially if you have no idea what you are talking about.
Just to offer my 2 bits, although I have NOT read the books yet, I have played the board game..."Cash Flow" ?... and have my kids and grandkids playing it.
It is a terrific tool IMHO because it introduces many valuable concepts such as leaving the rat race, investing for an independent life style, and wasting money on toys (doodads).
Can these concepts be taught without the game? Of course! But with such an impact? Not so sure about that, because just "telling" can be seen as lecturing, and tends to turn off the listener.
Parents and grandparents specially tend to be ignored and humored...but not the lessons delivered by the exciting game.
Bruce,
Have you seen enough? if you have let me know and I will delete this post.
I was reading a discussion board recently that has turned into a "hate" board, nothing being said to advise someone to help them, just the 'life sucks" attitude and I don't want to be alone because I am miserable
The misery loves company theory, not here, not now, not as long as I am a Moderator at TCI.
John $Cash$ Locke
Bruce,
A man of 254 posts probably you are self motivated enough not to read any of the books and you can probably do a lot in real estate without reading up.
Probably in the spare time you have you just castigate some author of a bestseller who is just giving some motivation to people to work for yourself...
So will the Real Mr.Bruce please stand up and explain the forum what you have done in RE so far...Maybe if you are really good..I will follow you instead
John - I don't see why this post should be deleted. There are a lot of intelligent responses already. Having a different view point is good for opening up conversation, which leads to a transfer of ideas and knowledge.
Not everyone buys into the only thing that is standing in your way of success is your own attitude so believe everything you hear syndrome.