Author Topic: Robert Kiyosaki  (Read 1219 times)

Chesleygirl

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Robert Kiyosaki
« on: August 31, 2017, 11:12:10 AM »
Has anyone read his rich dad, poor dad books? I've read some of his investing book, but he writes so much about real estate, (which I'm not particularly interested in, I just own a house and that's it). And I've not learned as much about investing in stocks, bonds, etc as I'd hoped to learn from this book.

Cwadda

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Re: Robert Kiyosaki
« Reply #1 on: August 31, 2017, 11:34:27 AM »
Rich Dad, Poor Dad is a classic. It's about real estate, but more importantly it's about cash flow. Cashflow is excellent and worthwhile to learn about, not just for real estate.

BiochemicalDJ

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Re: Robert Kiyosaki
« Reply #2 on: August 31, 2017, 11:45:38 AM »
Kiyosaki is big on the mindset and the thinking that goes along with savings and being FIRE- He's very, very bad with specific strategy. His major points that he got across in Rich Dad, Poor Dad were essentially a huge expansion of 'your money can work harder than you can'.

Be aware that after he wrote those books, a series of seminars with his name on them appeared that are pretty scammy- very much like 'Trump University'.

I'd still recommend reading Rich Dad, Poor Dad though- but you'll see there's much less new material there than you might imagine if you've read all of MMM and you're familiar with all the mindset changes needed to make your money work for you. And yes, he does place a disproportionate value on real estate investing- But the 'strategy' portions can be summed up with 'Educate yourself as thoroughly as possible on investment vehicles in your local area' and 'Hire an amazing team.'

Reading 'A Random Walk down Wall Street and the work of John C. Bogle of Vanguard would probably give you a pretty good grounding in the MMM Index Value Investing philosophy, but how you specifically execute (what brokerage to use, asset allocations, etc.) are a very personal decision that really only you can make.
« Last Edit: August 31, 2017, 11:48:55 AM by BiochemicalDJ »
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tralfamadorian

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Re: Robert Kiyosaki
« Reply #4 on: August 31, 2017, 01:30:34 PM »
And I've not learned as much about investing in stocks, bonds, etc as I'd hoped to learn from this book.

Umm, Kiyosaki's whole premise is that stocks are a risky non-productive pseudo investment so no, I don't think you would learn much about them in his books! 

Even as someone who does invest in real estate, I've never found his books compelling.  They're repetitive, shallow and insultingly simplistic.  I've heard podcasts where he's been a guest; he comes across to me as unintelligent and ignorant of the fact that most of his explosive real estate wealth is due to his investment in Hawaiian real estate during its young statehood and rise as the quintessential American holiday destination. 

Chesleygirl

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Re: Robert Kiyosaki
« Reply #5 on: August 31, 2017, 03:03:59 PM »
And I've not learned as much about investing in stocks, bonds, etc as I'd hoped to learn from this book.

Umm, Kiyosaki's whole premise is that stocks are a risky non-productive pseudo investment so no, I don't think you would learn much about them in his books! 

Even as someone who does invest in real estate, I've never found his books compelling.  They're repetitive, shallow and insultingly simplistic.  I've heard podcasts where he's been a guest; he comes across to me as unintelligent and ignorant of the fact that most of his explosive real estate wealth is due to his investment in Hawaiian real estate during its young statehood and rise as the quintessential American holiday destination.

I guess real estate just doesn't appeal to me that much. I wanted to learn more about investing money, saving money, etc. He seemed to talk this down a lot, as though it's too risky for the average person.

This book seems all about real estate. It's too narrow.

dcamnc

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Re: Robert Kiyosaki
« Reply #6 on: September 01, 2017, 06:22:18 AM »
I think he's kinda sleazy and scammy. However, I will say his first couple of books do have some merit, in that they can expand the everyday "Joe/Jane's" mind about the money game. He writes on a level that financially illiterate folks can easily grasp; moreso than some of the other popular financial books, which can come off dry, overwhelming the average person with stats, percentages, and so on.

Cwadda

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Re: Robert Kiyosaki
« Reply #7 on: September 01, 2017, 07:53:31 AM »
For the OP: if you're interested in any sort of real estate investing, I'd definitely recommend Rich Dad, Poor Dad. If not, then there are plenty of other resources. Simple Path to Wealth by JL Collins is a big one around here. Or you can just read his stock series blog.

stashja

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Re: Robert Kiyosaki
« Reply #8 on: September 03, 2017, 08:54:16 AM »
He suggests doing things that are illegal and he has let his Rich Dad company go bankrupt. Now our seriously economically depressed area is hosting one of his upsell seminars and my relative with 2 rental SUVs, a mortgage owned by his dad, and a $28k salary is attending one because he intends to become rich by flipping houses. The seminar they are selling costs $38k. Kiyosaki won't even attend the upsell in person. I wish we hadn't seemed to have so many chumps.

aceyou

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Re: Robert Kiyosaki
« Reply #9 on: October 13, 2017, 01:25:48 PM »
I read his books when I was fresh out of college.  They got me really fired up, but not in an actionable way to actually do anything, because it was really vague.  So, as a read, I loved it, but as a helpful tool, not really. 

A decade later, I think back on the books with a far lower opinion of him and many of his ideas.  Even if you are interested in real estate investing, you might be better off looking in a different direction, simply because I'm not convinced of his personal integrity at this point.  Paula Pant is an example of the type of person I'd try to connect with about real estate before revising any of his books. 

To counterpoint that, reading MMM got me equally fired up, but in a way where the advice was very applicable and specific enough that I could take action.  And the more I read of MMM and the community surrounding it, the more impressed I am with the character and integrity of the group he's formed.

Chesleygirl

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Re: Robert Kiyosaki
« Reply #10 on: October 14, 2017, 07:51:34 PM »
I decided not to read any more of his books, as I'm not interested in real estate investing.