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The Robert Kiyosaki thread

What do you think of him?

I played Cashflow 101 before which is okay, I think he's an eye opener. But when it comes to mutual funds I don't agree with him. What do you think?
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Comments

  • ArchimedesArchimedes B?nned by ?dmin ✭✭✭
    http://en.wikipedia.org/wiki/Robert_Kiyosaki


    Criticism and controversy

    Kiyosaki's books and teachings have been criticized for focusing on anecdotes and containing little in the way of concrete advice on how readers should proceed.[13] Kiyosaki responds that his material is meant to be more of a motivational tool to get readers thinking about money, rather than a step by step guide to wealth. He also says the books are supposed to be "interesting" to people, which precludes involving a lot of technical material.[14]

    There is also disagreement over how blurred the line is between fiction and anecdote in many of his works. Critics believe that Rich Dad is fictional and that Kiyosaki created him as an author surrogate (a literary device). In the past, Kiyosaki has maintained that Rich Dad actually existed, but that he died decades before the book was first published. However, he has never revealed his name or any other identifying information. Attempts by outsiders to determine Rich Dad's identity have not revealed a conclusive candidate, despite the prominence such a wealthy individual would likely have had in Hawaii in the 1950s. In the February 2003 issue of SmartMoney magazine, Kiyosaki appeared to back off his claim that his "rich dad" was a real person, instead stating "Is Harry Potter real? Why don't you let Rich Dad be a myth, like Harry Potter?".[15]

    Former real estate investor and author of books on real estate investment John T. Reed has questioned much of what Kiyosaki has claimed to have achieved. According to Reed, much of Kiyosaki's advice is illegal, makes no sense or is the product of "a rather ignorant, not very bright, novice, investor wannabe". [16] He concludes his criticism, saying that "Rich Dad, Poor Dad is one of the dumbest financial advice books I have ever read. It contains many factual errors and numerous extremely unlikely accounts of events that supposedly occurred."

    Kiyosaki has also been criticized for being overly repetitious in his teachings. Some consider this a tactic to produce "filler" material in order to make it appear he is covering more material. Kiyosaki claims that this is an intentional teaching style that he feels is important.[citation needed]

    Even some of the facts he has offered directly have been questioned. For example, on September 19, 2006, Kiyosaki wrote in a Yahoo Finance article that the NYMEX is an exchange where "... pork bellies,… are traded".[17] In reality, pork bellies are not traded on the New York Mercantile Exchange.[18]

    ABC ran a 20/20 segment on May 19, 2006 in which Kiyosaki was to advise 3 entrepreneurs on how to make money. They were given $1000 and 20 days to try and make the most money possible. At the end, after mediocre results, the contestants alleged that Kiyosaki never gave concrete advice. "All he [Kiyosaki] does is, I guess, is open your mind to the possibility. He doesn't tell you how to do it." Kiyosaki responds by saying that failure is important to learn. At the end, 20/20 asks, "Does anyone really need 18 books to learn to fail?"[19]

    The Wall Street Journal panned "Why We Want You To Be Rich" by Kiyosaki and Trump[20] as did Kiplinger's Personal Finance[21]

    Kiyosaki wrote a column in Yahoo Finance in which he blames poverty on laziness. He also implies a religious justification for wealth disparity. "Over the years, I've met many losers who pray to God to give them gold. God helps those who help themselves. Again, the conquistadors may have been killers and thieves, but at least they knew how to help themselves."[22]

    Kiyosaki's boardgames have been criticized for being excessively expensive;[citation needed] US$200 for the most expensive Cashflow 101.

    Kiyosaki downplays the importance of traditional and tertiary education in achieving financial success. Studies of the median salaries that come with different levels of education suggest the contrary, such as the one found here.
  • joshua69joshua69 Member PExer
    maybe some negative comments on Robert are true..

    But after reading rich dad poor dad, guide to investing, quadrant and retire young retire rich, ...it inspired me a lot.

    im now into investing like mutual funds, stocks,lending and testing water on real estate.

    Do you believe in Jesus or God Almighty? Have u seen him?
    Do you need to??? lucky are those who believe without seing HIM!!

    i have a networth 1.5M and growing...i think the next millions wll be easier....compounding....while im into corporate ladder...

    dati inuubos ko lang sa goodtime, ngaun still do "gimiks" pero....i know mymoneyis earning on the side..without doing or exerting efforts..he he...my two bucks..PEACE
  • javazcriptjavazcript Member PExer
    Hi! Sorry guys. I know this is such an off topic. But just I want to promote the banner of Rona Marie Libby, She's nominated for this week in Pinoy Big Brother Teen Edition plus. I am asking for your support. pls. pls. let us support her. Only 2.50/txt. Thank you very much!

    Untitled-1-4.gif
    credits to teemacdaddy
    Untitled-1-3.jpg
    credits to thecrepters

    [IMG]http://[/img]pbbron10.jpg
  • killer16killer16 Member PExer
    What do you think of him?

    I played Cashflow 101 before which is okay, I think he's an eye opener. But when it comes to mutual funds I don't agree with him. What do you think?

    How come you don't agree?
  • giovannnigiovannni Selling stocks short :) PExer
    He's great if you realize that there is NO rich dad... the rich dad is a literary device. He does offer some info that gets people to think about their money making strategies. However, it's at the expense of talking down to "employees" and "self-employed" people so they would follow his advice and shoot to become "business owners" and "investors". On the whole I agree but he's selling the employee and self-employed route short. A public company's CEO pulling in MILLIONS a year in compensation is, on the average, an employee--an employee that reports only to the Board of Directors but an employee nonetheless. Many lawyers and doctors that drive nice cars and live in manicured multimillion dollar suburbs are self-employed. They're not suffering.

    Employment and self-employment aren't necessarily one way streets to poverty and degradation. There's many differing shades.

    Don't let a book like "Cashflow Quadrants" or "Rich Dad, Poor Dad" fool you into discounting the inherently creative and versatile nature of people to control their economic destinies. They have a purpose but don't let the negativity of those books toward employment and self-employment prevent you from getting the necessary life wisdom to become successful as a self-employed or employed person.
  • aspiringentrepraspiringentrepr Hedge Fund Analyst PExer
    I posted some of my views about Robert Kiyosaki on my blog.

    I have a label for Robert Kiyosaki.

    Also, there's a link in my blog in his very own blog site! Yes, Robert Kiyosaki's blog site!

    Aspiring Entrepreneur
  • ready2goready2go http://fitzvillafuerte.com PExer
    Robert Kiyosaki served as the inspiration of my blog.

    PMT.gif
    Are you Ready To Be Rich? Visit http://fitzvillafuerte.com
  • omengomeng the glorious ✭✭
    better play triumph :D
  • susmariosepsusmariosep Member ✭✭
    Robert Kiyosaki if he gets rich it's from selling his books to people who love to read them.


    Look up the web for critique of Robert Kiyosaki.

    But you will not because you don't have the habit of being critical.

    That is why Robert Kiyosaki manages to make money selling his books to you and people like yourself.


    But I must admit that the guy has brains and luck and a gift for gab in speech and in writing.


    If nothing else, learn to master his writing style and just rehash his thoughts, then with good marketing of your books you might just be lucky and make a good living as a financial wizard.

    Even though more seriously rich and financially savvy people will know you for a charlatan.

    Of which you can see one on TV I think every Sunday in his mass Luneta gathering where he does not pay for the use of space and hauls in millions of pesos from hordes and hordes of the unthinking poor.

    And I don't think this charlatan has ever put up a school or a clinic or an orphanage for the use of his audience of hordes and hordes of poor Pinoys -- or any church.

    Prove me wrong, though, and I will apologize.



    Susmariosep
  • boogerflickerboogerflicker the coolangot PExer
    He changes his stance depending on the situation. His style is making kontra
  • tidus1203tidus1203 star of the abes! PExer
    While some of what he is saying might be true and logical. He might be making even more money on selling his books than what is actually written in it...
  • frostings01frostings01 Member PExer
    well, i just finished Rich Dad, Poor Dad last night and it's really inspiring. I'm on the safe side, might as well risk a little and test the waters. I'm about to read You Can Choose to be Rich and I hope this is a nice one.
  • burito123burito123 Banned by Admin PExer
    javazcript wrote: »
    Hi! Sorry guys. I know this is such an off topic. But just I want to promote the banner of Rona Marie Libby, She's nominated for this week in Pinoy Big Brother Teen Edition plus. I am asking for your support. pls. pls. let us support her. Only 2.50/txt. Thank you very much!

    Untitled-1-4.gif
    credits to teemacdaddy
    Untitled-1-3.jpg
    credits to thecrepters

    [IMG]http://[/img]pbbron10.jpg

    kamag-anak mo ba yan. grabe ka sa off-topic. saka **** lang yung gagastos ng P2.50 sa text na ganyan lang.

    back to topic. yang si Kiyosaki ang tawag dyan, kanya-kanyang raket lang. si Francisco Colayco rumaket din by writing a book based sa books ni Kiyosaki.
  • alvintabzalvintabz RegisteredFinancialPlanne r PExer
    burito123 wrote: »
    kamag-anak mo ba yan. grabe ka sa off-topic. saka **** lang yung gagastos ng P2.50 sa text na ganyan lang.

    back to topic. yang si Kiyosaki ang tawag dyan, kanya-kanyang raket lang. si Francisco Colayco rumaket din by writing a book based sa books ni Kiyosaki.


    Raracket din ako within the next 2 to 3 months, dahil ilalabas na yung sinulat ko na libro on personal money management & wealth building na pang-ordinaryong Pinoy. Pero hindi ito clone ng libro ni Kiyosaki or ni Colayco (although English-Pilipino din ang pagkasulat). Hindi ako fan ni Kiyosaki; hindi applicable dito sa Pinas yung ibang sinasabi nya; bukod sa masyadong mahaba magpaliwanag, mahihilo ka dahil paikut-ikot, paulit-ulit... sa tingin ko yung isang chapter niya dapat isang page lang. And unlike Kiyosaki's book, which he claims as more of a motivational book than a guide, yung sa akin ay step-by-step guide; direct to the point at wala nang patumpik-tumpik pa.


    myname2.jpg
  • knnknn Member PExer
    I thank Robert Kiyosaki for his books. I like "Rich Dad Poor Dad", " How To Retire Young and Rich".:love:
  • burito123burito123 Banned by Admin PExer
    nakow RFP pala tong si Alvin. Mabuti naman at congrats. Siguro kakilala mo rin yung uber yabang na si Randel Tiongson. Isa pa yon. Sabog an ideas e nanggagaya. sana maging successful ka alvin at wag tularan si randel tiongson
  • haveurcakehaveurcake Member PExer
    retire young retire rich by kiyosaki is pretty agressive but helpful
  • alvintabzalvintabz RegisteredFinancialPlanne r PExer
    burito123 wrote: »
    nakow RFP pala tong si Alvin. Mabuti naman at congrats. Siguro kakilala mo rin yung uber yabang na si Randel Tiongson. Isa pa yon. Sabog an ideas e nanggagaya. sana maging successful ka alvin at wag tularan si randel tiongson

    Maari bang magrequest sa 'yo burito na ireview ang 1 or 2 chapters ng libro ko. Posible na alam mo na ang mga konsepto na nakasulat dito. Gusto ko lang makuha ang opinion mo kung madali nga ba itong maintindihan at masundan ng ordinaryong Pinoy (which is my target audience) o mas lalo lang silang maguguluhan.

    Maraming salamat.


    ALVIN T. TABA?AG
    www.pinoysmartsvers.com
  • burito123burito123 Banned by Admin PExer
    no problem alvintabz. pwede naman tayong mag-email or pm para makita ko ang manuscript mo sa chapters 1 and 2. salamat.
  • summers2006summers2006 Member PExer
    To the financial gurus in this forum, please share your opinion regarding my dilemma. I’ve made placements in both UITF and Mutual Funds last year. Unfortunately, the NAVs of the products are down to 23% to 28%. I know that the outlook for such products should be long term. However, I am apprehensive because the fundamentals of the dollar/ US economy is getting weaker everyday, not to mention the continuous increase of oil/energy and food prices. Whether we like it or not, the local stock and bonds performance will be affected by these factors, especially by the dollar weakness. In fact, the prognosis of the financial experts is that there will be an eventual crash of the US economy. When it happens, paper-based assets worldwide will follow suit. What do you suggest? Should I pull out my investments now and cut losses, even if the loss is quite big, or should I keep the investments and hope that an eventual economic crash will not happen? If I will pull out my investments, where do you suggest we place it? Other experts advice to make investments in gold or silver, unfortunately, here in the Philippines, we don’t have such investment products. Or do you know of any? Will truly appreciate you insight/suggestion. Thank you very much in advance.
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