Comments on: Rich Dad, Poor Dad – Kiyosaki Gets it Wrong With Money http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html News for Consumers in Changing Times Sun, 12 Feb 2012 04:49:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Lord http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-194 Lord Sun, 18 Feb 2007 01:23:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-194 I really, really like Kiyosaki because he exposes the false facade of the financial industry. Not that one should accept his views uncritically, but they are a must read for an unconventional viewpoint. They aren't going to make you rich, but they will get you to think about what it takes to get rich. I really, really like Kiyosaki because he exposes the false facade of the financial industry. Not that one should accept his views uncritically, but they are a must read for an unconventional viewpoint. They aren’t going to make you rich, but they will get you to think about what it takes to get rich.

]]> By: Joe R. http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-110 Joe R. Thu, 01 Feb 2007 04:02:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-110 Reading "Rich Dad.." alone does not address risk, but RK certainly does in the following books. He even says 'risk' is why most people don't become wealthy. Plus he provides a list of suggested reading. A clear indicator that no one book could give you a road map to riches. It is always a process. And of course what are you willing to sacrifice. <br />You don't have to put money in RK's pocket to read his books. Hello public library!! Reading “Rich Dad..” alone does not address risk, but RK certainly does in the following books. He even says ‘risk’ is why most people don’t become wealthy. Plus he provides a list of suggested reading. A clear indicator that no one book could give you a road map to riches. It is always a process. And of course what are you willing to sacrifice.
You don’t have to put money in RK’s pocket to read his books. Hello public library!!

]]> By: The Chef http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-85 The Chef Mon, 29 Jan 2007 09:24:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-85 I agree with Gagan, Why should I go out of the scope of the book. The book clearly mentions that it is for those who don't know about money... I strict sense it is for those who are not financial planners and never will. He tells us about asset classes and how to differentiate between them.I think I ll post a detailed review on the book what we can learn from that book and Why... I agree with Gagan, Why should I go out of the scope of the book. The book clearly mentions that it is for those who don’t know about money… I strict sense it is for those who are not financial planners and never will. He tells us about asset classes and how to differentiate between them.I think I ll post a detailed review on the book what we can learn from that book and Why…

]]> By: Brian http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-78 Brian Fri, 26 Jan 2007 00:17:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-78 John Reed has written a <a href="http://www.johntreed.com/Kiyosaki.html">long and very detailed analysis</a> about what Mr Kiyosaki is wrong about investing. I think its well worth reading. John Reed has written a long and very detailed analysis about what Mr Kiyosaki is wrong about investing. I think its well worth reading.

]]> By: gagan http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-69 gagan Mon, 22 Jan 2007 11:51:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-69 why do we look at what he does nt discuss . He says a lot about finances and investments which i guess is worth reading . I like cash flow quadrant as well . Good motivations why do we look at what he does nt discuss . He says a lot about finances and investments which i guess is worth reading . I like cash flow quadrant as well . Good motivations

]]> By: Lazy Man and Money http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-55 Lazy Man and Money Fri, 19 Jan 2007 05:39:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-55 I think it's a worthwhile book. If for nothing else it makes you think about passive income. How that comes about is not important. It also makes you think about what is a true asset and what is a liability. These are good things. I think it’s a worthwhile book. If for nothing else it makes you think about passive income. How that comes about is not important. It also makes you think about what is a true asset and what is a liability. These are good things.

]]> By: Bernard http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-54 Bernard Thu, 18 Jan 2007 10:01:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-54 My take is that the book is not aim to be a catch all to how you should deal with money.<br />It is targetted more towards the general public who has very little awareness of financial principles, The book acted more like a little friendly reminder to raise awareness of our limited financial literacy. My take is that the book is not aim to be a catch all to how you should deal with money.
It is targetted more towards the general public who has very little awareness of financial principles, The book acted more like a little friendly reminder to raise awareness of our limited financial literacy.

]]> By: jay http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-51 jay Wed, 17 Jan 2007 18:06:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-51 I wasn't terribly impressed with the book either. While some claim it might be motivational, what is so motivational about being told glossy half truths or even lied to.<br /><br />If there is one thing I got from Rich Dad, it was a curiosity about investing in real estate. What vague strategies he described in the book are mostly out dated and the exception, not the rule. I've done a ton of research in the last month and am preparing myself to purchase investment property this year.<br /><br />I talked to some other people about the books before reading and was almost sold on additional books, but after reading for myself, I won't put another dime in RK's pockets. I wasn’t terribly impressed with the book either. While some claim it might be motivational, what is so motivational about being told glossy half truths or even lied to.

If there is one thing I got from Rich Dad, it was a curiosity about investing in real estate. What vague strategies he described in the book are mostly out dated and the exception, not the rule. I’ve done a ton of research in the last month and am preparing myself to purchase investment property this year.

I talked to some other people about the books before reading and was almost sold on additional books, but after reading for myself, I won’t put another dime in RK’s pockets.

]]> By: Lisa Knight http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-49 Lisa Knight Wed, 17 Jan 2007 16:05:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-49 Well, I liked the book. I also read Cash Flow Quadrant & am reading his Wife's book (which does have some strategic advice on how she made money) "Rich Woman" I know he has written a slew of other books on realestate investing & the like. <br /><br />I think that he made a bulk of his money in the beginning off the cash flow game he invented. So since I don't think I'll be inventing a new board game anytime soon, I'll stick with the concepts & come up with my own game plan. They also didn't have (or still don't have) kids, so becoming homeless as a sacrifice for our future investments isn't an option for everyone (boy I'd have some money to invest if we did!!!)<br /><br />Is it me or does everyone want the rich to tell them exactly how they got there, if they did that we'd all be there & who would they have to do their gardening??? Well, I liked the book. I also read Cash Flow Quadrant & am reading his Wife’s book (which does have some strategic advice on how she made money) “Rich Woman” I know he has written a slew of other books on realestate investing & the like.

I think that he made a bulk of his money in the beginning off the cash flow game he invented. So since I don’t think I’ll be inventing a new board game anytime soon, I’ll stick with the concepts & come up with my own game plan. They also didn’t have (or still don’t have) kids, so becoming homeless as a sacrifice for our future investments isn’t an option for everyone (boy I’d have some money to invest if we did!!!)

Is it me or does everyone want the rich to tell them exactly how they got there, if they did that we’d all be there & who would they have to do their gardening???

]]> By: K.C. Jones http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-47 K.C. Jones Wed, 17 Jan 2007 14:12:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-47 I agree - however, I don't think Kiyosaki is really motivational. At least not any more motivational than I would be had I written a book that was basically a collection of theories and ‘hypotheticals’ with no "real" game plan on how to achieve anything.<br /><br />Dateline or 60 minutes (one of those shows) did a piece that involved him where he would personally teach 5 or so people how to succeed and then they'd follow them and track how they did. Big surprise that no one did well at all. I tried to find a link to a video of that show, but couldn't...I'll keep looking though, 'cause it was great.<br /><br />----<br /><br />www.climbingoutofdebt.blogspot.com I agree – however, I don’t think Kiyosaki is really motivational. At least not any more motivational than I would be had I written a book that was basically a collection of theories and ‘hypotheticals’ with no “real” game plan on how to achieve anything.

Dateline or 60 minutes (one of those shows) did a piece that involved him where he would personally teach 5 or so people how to succeed and then they’d follow them and track how they did. Big surprise that no one did well at all. I tried to find a link to a video of that show, but couldn’t…I’ll keep looking though, ’cause it was great.

—-

http://www.climbingoutofdebt.blogspot.com

]]> By: Tyler http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-46 Tyler Tue, 16 Jan 2007 23:28:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-46 First off, I think that Kiyosaki's books are simply motivational tools and, as you indicated, are not a financial guidebook for the average person.<br />However, his views on risk are not completely off base. He views risk in terms of "control" over one's investments. For instance he views Real Estate as less risky because one has control over the property and the renters etc. However, he does not include the leverage involved with the mortgage portion of the investment as "risk" which he should. First off, I think that Kiyosaki’s books are simply motivational tools and, as you indicated, are not a financial guidebook for the average person.
However, his views on risk are not completely off base. He views risk in terms of “control” over one’s investments. For instance he views Real Estate as less risky because one has control over the property and the renters etc. However, he does not include the leverage involved with the mortgage portion of the investment as “risk” which he should.

]]> By: Trent http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html/comment-page-1#comment-45 Trent Tue, 16 Jan 2007 23:05:00 +0000 http://www.americanconsumernews.com/2007/01/rich-dad-poor-dad-%e2%80%93-kiyosaki-gets-it-wrong-with-money.html#comment-45 I really, really don't like Kiyosaki. This book espouses utterly terrible personal finance and is only "known" because Kiyosaki got involved with pyramid marketing and used those "sales" numbers to convince larger publishers that he was a big success.<br /><br />I will ~never~ review a book by Kiyosaki on my site. I really, really don’t like Kiyosaki. This book espouses utterly terrible personal finance and is only “known” because Kiyosaki got involved with pyramid marketing and used those “sales” numbers to convince larger publishers that he was a big success.

I will ~never~ review a book by Kiyosaki on my site.

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