Robert T. Kiyosaki, Rich Dad Poor Dad

You started a thread about buying a book? You are a true dullard.

^^^^^^ I generally don't go along with any such books, but I will check out the ones you mention. But just as it is with Kiyosaki, since these books are part of our culture, my reading will be mostly just so that I can critique them.

Thanks for the info.

SJG

^^^^^ Thanks for the info.

SJG

The problem with most of these books is that they are trying to tell you what you are supposed to want.

SJG

^^^^ They make the future the objective of life, and that being only about money. At a spiritual level, one has to know that this is just plain wrong.

SJG

I know that some of the Kiyosaki ideas run counter to this.


SJG

You might like "The Millionaire's Mind" by Thomas Stanley.

I’ve read most of Rich Dad Poor Dad. It explains finance in a very simple way that is easy to understand. A high school kid can read it and understand. One thing I took away from it is that there are four things that are essential for business success and to get rich: finance, economics, marketing, and law. Those are the four “pillars.”

That, and the concepts of assets and liabilities, income and expenses. Stuff like that. One man’s liability (mortgage loan) is another man’s asset (debt security). The key to riches is to acquire as many assets as possible and as few liabilities as possible.

IDK - I think he's kinda been discredited and fined by the authorities for charging people big bucks for seminars where they pressured participants to buy more and more expensive courses and no one ended up making any $$$ and it was not even him giving the seminars (basically recent business grads); kinda a "Donald Trump University" type thing - I think he may be a chister and just a good salesman and I don't think his methods are life changing (basically common-sense shit packaged to sell to the masses and financially illiterate)

I found his books to be to simplistic and repetitive, however, the board game was a lot of fun to play with my kids. It was just like the books and my kids loved playing it with me. Granted, at the time they were 12 & 7.5. From that standpoint it was worthwhile my kids learned some decent money management skills. I found reading the millionaire next door to be much better than any of the rich dad books. It pretty much echoed the way I was raisedane has served me much better.

I read Rich Dad Poor Dad in college. I liked it at the time, but I would just point out that Robert Kiyosaki is a total hypocrite. During the boom years in the 90s and early 2000s he encouraged people to invest aggressively and to take on debt to finance their investments if necessary. He mocked the "poor dads" who lived frugally, played it safe, and stuck to what they knew. As late as 2007 he was on late-night infomercials talking about how you too can get rich investing in real estate. But then the bubble burst in 2007-2008. Before you knew it, he was on tv again, but this time he was talking about how irresponsible these people were to take on so much debt! I remember watching an interview he gave around that time and just being in disbelief at what I was hearing from this asshole.

Anyway, some other books that have been mentioned in this thread:

A Random Walk Down Wall Street was good. The Millionaire Next Door was good, too, but then the author completely and utterly contradicted himself in the follow-up book, the Millionaire Mind.

I vaguely recall he was still promoting real estate even as the bubble started deflating.

Kiyosaki is a glorified carnival huckster and serial narcissist.

Not surprised that he caught SJG's attention.

Normally I am opposed to all self help books, as they are manipulative and insulting.

And no, I don't buy them. I'm not going to give these people money. And this is a 1997 book, so my borrowing will not likely result in another purchase.

Thanks for the info about all the other books. I'll look them up.

That Robert K. would go on to promote real estate investing is to me a total rejection factor.

I think what makes me want to know what he is writing are just a couple of ideas from his first book, as I understand it:

1. Juxtaposition of his college professor father with this rich uncle. Want to understand where he is coming from and why. Rejecting father is not that common.

2. Owning a house is a liability, not an asset. Against conventional wisdom, though I strongly agree with it.

3. Generally wants people to live frugal. This is how you gain freedom. Very hard to get most people to understand this.

4. Seems to favor your own business over 'jobs'. Against conventional wisdom. Also, people who go that way, are a very different breed than the typical well of white male and his 9 to 5 funded 'investments'.

5. Downplays college, 'A' students end up working for 'C' students. This jibes with my own observations. Consider Gates, Jobs, Wozniak, and Ellison. And even back before 1950, Stanford's Frederick Terman was taking his high tuition paying students on trips and explaining that most of the people who start companies are college drop outs. Robert K. makes the assertion that 'A' students are such because they are afraid of failing.

I wouldn't have put it that way myself, but I do feel that college students are basically conformists, approval seekers, etc. And I feel that it would be better if higher education worked in other ways. The present forms are completely antiquated.

Unlikely I will go along with Robert K., or with any of the other recommended authors, but I still want to know what they are saying so that I can better critique them.

Also of notice, Robert K. did spend time working with Rev. Ike.

When I first heard of Rev. Ike, it was in a radio interview. I thought he was completely outrageous. Beyond parody. Never had had any idea that that sort of religion existed. My view though is that it is all complete and unmitigated bull shit.

I don't go along with self-improvement or get rich quick teachers. But I do go along with people who completely reject the idea of conformity via 'job'. Is Elon Musk a guy who can say, "Never had a job in my life"? Not sure, but he probably at least comes close. Need to read and find out.

https://www.amazon.com/Elon-Musk-SpaceX-…

So many books, so little time.

Thanks,
SJG

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