Rich Dad, Poor Dad thread

[jt the azn]

I have heard contradicting responses from people who have read this book. What's your opinion. I'm still deciding if I want to buy this book.

 

[Francisco d'Anconia]

Read it with an open mind without any specific expectations and then ask yourself whether you are comfortable with his perspective about wealth.

 

[spesmilitis]

I don't respect that book at all. Robert T Kiyosaki endorses the pyramid scam network 21 by amway. This one guy tried to get my into that stuff. Since I didn't know what pyramid scams were at the time, I went to an informational meeting. He gave me a ride and on the way there he played a cd of Kiyosaki. At the meeting, the presenters were talking how smart Kiyosaki is and also mentioned that Kiyosaki said that if he had to start all over again, he would do it though network 21. Near the end of the meeting when the guys were asking me for a buttload of money to join, it hit me that this is a scam. I then noticed that Kiyosaki's material played perfectly into the psychology tactics that network 21 used to recruit people.

I don't think his book was meant specifically to be used by network 21 as that book is successful on its own to make a lot of profit.

Take a look at the controversy section of this http://en.wikipedia.org/wiki/Robert_Kiyosaki

Also, I noticed that the majority of the people who read rich dad poor dad are college students, unsuccessful adults, or adults who are successful at scamming people.

 

[WesCottII]

IMO, good for motivation....not much else. It's a good read, but in the way of tips, lessons....it's no good.

It's worth a read though.

 

[azanon]

The guy's a scam artist and talks out of both sides of his mouth. This website covers him in depth: http://www.johntreed.com/Kiyosaki.html

 

[Francisco d'Anconia]

I don't respect that book at all. Robert T Kiyosaki endorses the pyramid scam network 21 by amway. This one guy tried to get my into that stuff. Since I didn't know what pyramid scams were at the time, I went to an informational meeting. He gave me a ride and on the way there he played a cd of Kiyosaki. At the meeting, the presenters were talking how smart Kiyosaki is and also mentioned that Kiyosaki said that if he had to start all over again, he would do it though network 21. Near the end of the meeting when the guys were asking me for a buttload of money to join, it hit me that this is a scam. I then noticed that Kiyosaki's material played perfectly into the psychology tactics that network 21 used to recruit people.

I don't think his book was meant specifically to be used by network 21 as that book is successful on its own to make a lot of profit.

Take a look at the controversy section of this http://en.wikipedia.org/wiki/Robert_Kiyosaki

Also, I noticed that the majority of the people who read rich dad poor dad are college students, unsuccessful adults, or adults who are successful at scamming people.

So explain why increasing your passive income wouldn't be a good thing.

 

[jvd]

I read the book, and I really enjoy his other material too. Now this book is obviously not perfect since it doesn't get into specifics and but it is more of an eye opener, and there is controversy on how his business practices are. (I am not going to get into more details, since it will take a long time to explain and this not a "business" site) Overall it's a good read !

 

[Monster]

The book is motivational at best, a waste of money worst. I mean it is a little entertaining to read and the story is OK but it gives you very very general ideas. You will probably read it and then think, I already knew that. What we want to know is how to apply that knowledge, which is where the book is lacking.

 

[Frenchconnection]

I read the book, and I really enjoy his other material too. Now this book is obviously not perfect since it doesn't get into specifics and but it is more of an eye opener, and there is controversy on how his business practices are. (I am not going to get into more details, since it will take a long time to explain and this not a "business" site) Overall it's a good read !

Actually please do! This is the "anything else" forum after all.

 

[spesmilitis]

So explain why increasing your passive income wouldn't be a good thing.

What did my post have to do with increasing passive income? If you think pyramid scams are a great way to make money . . .
http://www.google.com/search?hl=en&rls=com.microsoft:en-us&q=pyramid+schemes

 

[azanon]

Actually please do! This is the "anything else" forum after all.

If you want details on this guy, and his book, follow my link above.

 

[Francisco d'Anconia]

What did my post have to do with increasing passive income? If you think pyramid scams are a great way to make money . . .
http://www.google.com/search?hl=en&rls=com.microsoft%3Aen-us&q=pyramid+schemes

Kiyosaki's entire premise on wealth is based on creating passive income. Multi-level marketing is just one way to create passive income (if done correctly). How much do you know about his ideas about creating wealth?

 

[Reyaj]

I agree with this Italian dude who's name I can't pronounce. Kiyosako has sound philosophy. And if you actually read his books he says multi level marketing is good in order increase sales skills and confidence to move onto bigger things. He doesnt directly say this will make you rich.

 

[Luveno]

This book is a whole lot of motivational thinking but absolutely no practical application, which makes it useless.

People should stop pretending to be money experts after reading this book.

 

[Francisco d'Anconia]

This book is a whole lot of motivational thinking but absolutely no practical application, which makes it useless...

Not understanding the information would definitely make it useless.

 

[Francisco d'Anconia]

I agree with this Italian dude who's name I can't pronounce. Kiyosako has sound philosophy. And if you actually read his books he says multi level marketing is good in order increase sales skills and confidence to move onto bigger things. He doesnt directly say this will make you rich.

But he does show you how you use it among other methods as passive income in order to lower your taxable earned income.

 

[spesmilitis]

Kiyosaki's entire premise on wealth is based on creating passive income. Multi-level marketing is just one way to create passive income (if done correctly). How much do you know about his ideas about creating wealth?

All multi-level marketing corporations are scams. Most of the money they make are from their own participants.

http://www.quackwatch.org/01QuackeryRelatedTopics/mlm.html

http://www.mlmwatch.org/

just google multi-level marketing

 

[Francisco d'Anconia]

All multi-level marketing corporations are scams. Most of the money they make are from their own participants.

http://www.quackwatch.org/01QuackeryRelatedTopics/mlm.html

http://www.mlmwatch.org/

just google multi-level marketing

If you'd like to see multi-level marketing that works study any corporation whose sales directors who are paid bonuses based on the commission of their sales managers.

 

[ER!C L!VE]

After I read it, I told my father that the entire book should have been 2 pages long. Good message, good advice, but too long winded. I think it was written for a Joe Lunchbucket audience with all its stories to keep the reader interested (and to add fluff so he could call it a book).

Check out eMyth, Sun Tzu, The Prince and the The Millionaire Next Door series. If you're into making money off trends, check out The Tipping Point.

 

[STR8UP]

I have heard contradicting responses from people who have read this book. What's your opinion.

Everyone is familiar with "The Matrix" as it applies to women? It's the same with money, that's why people who aren't clued in about how to make REAL money in a reasonable period of time (while you are still young enough to enjoy it) are obviously inclined to give it a bad review.

Fact is, if you have read the book and feel it's a "scam" or "bad information" or whatever, you're smack in the middle of said Matrix.