"Some readers have said that if I am going to criticize Kiyosaki’s book, I must offer a version of how to better yourself that does not have the flaws of Rich Dad Poor Dad. No problem. That would be my book Succeeding, which, somewhat to my surprise, is my top seller of the 38 different books I sell."
John T Reed isn't exactly unbiased here.
I found the value of RDPD not in the exact advice it gave, but in the mindset change. Basically it prods you to start thinking and acting more like the 1% does.
I just read some of the critiques from the Reed link above. I consider all of them to be accurate.
This is why I do not ever advocate for Kiyosaki. He is a huckster. But thinking in terms of assets vs liabilities, seeking rents as opposed to salary, and having multiple streams of income are all excellent thoughts. Most of his "how to" stuff is questionable at best. He also seems to always be ahead of any new idea. Silver? Oh yeah I have great big piles of silver. Bought it decades ago. Real Estate? Yeah I have thousands of rental properties and I've figured out how to maintain the properties for pennies, and everyone always pays on time.
Agree with your thoughts. The critiques aren't wrong per se. I should have clarified that. It just raises a question when the critic clearly has an agenda.
I must say that when I hear "real estate investor" my brain hears "shyster huckster."
Are there ways to make money in real estate? Yes. Speculate on rising markets and flip-flip-flip, by becoming your own realtor and partnering with a mortgage broker who will write it up for you for cheap. Fix up properties yourself. Self-list the properties and offer discounts for keeping other realtors out of it. Risky? YOU HAD BETTER BELIEVE IT.
Kiyosaki is always talking about buying properties with other people's money. Poker rules apply. Sit down at the table. Look at the other players. If you do not spot the sucker at the table... you are the sucker at the table. Funny how no one ever rocked up and told me he would like to give me his money so I could invest it and make a profit. Not even dear old Dad did that.
Or, buy rental properties and rent them and do your own maintenance on the properties, and pay a management company to manage the credit checks, securing the rent, evictions, etc.
Kiyosaki and his acolytes want you to give them your money.
But, also, those original ideas I mentioned are good ideas.
Gets you out of the "work for a living" mentality (slave/serf/factory worker mentality) and more into the investor mentality (rent seeking, assets not liabilities, etc.)
I often think Kiyosaki is a clown/huckster. He's always doing the "Wink-wink what's behind the next door will cost you but it's worth it. Only offered to my good friends!!!" tactic. But I equally think that first book is worth owning and reading.
"Some readers have said that if I am going to criticize Kiyosaki’s book, I must offer a version of how to better yourself that does not have the flaws of Rich Dad Poor Dad. No problem. That would be my book Succeeding, which, somewhat to my surprise, is my top seller of the 38 different books I sell."
John T Reed isn't exactly unbiased here.
I found the value of RDPD not in the exact advice it gave, but in the mindset change. Basically it prods you to start thinking and acting more like the 1% does.
I just read some of the critiques from the Reed link above. I consider all of them to be accurate.
This is why I do not ever advocate for Kiyosaki. He is a huckster. But thinking in terms of assets vs liabilities, seeking rents as opposed to salary, and having multiple streams of income are all excellent thoughts. Most of his "how to" stuff is questionable at best. He also seems to always be ahead of any new idea. Silver? Oh yeah I have great big piles of silver. Bought it decades ago. Real Estate? Yeah I have thousands of rental properties and I've figured out how to maintain the properties for pennies, and everyone always pays on time.
(X) for Doubt.
Agree with your thoughts. The critiques aren't wrong per se. I should have clarified that. It just raises a question when the critic clearly has an agenda.
I agree with that as well.
I must say that when I hear "real estate investor" my brain hears "shyster huckster."
Are there ways to make money in real estate? Yes. Speculate on rising markets and flip-flip-flip, by becoming your own realtor and partnering with a mortgage broker who will write it up for you for cheap. Fix up properties yourself. Self-list the properties and offer discounts for keeping other realtors out of it. Risky? YOU HAD BETTER BELIEVE IT.
Kiyosaki is always talking about buying properties with other people's money. Poker rules apply. Sit down at the table. Look at the other players. If you do not spot the sucker at the table... you are the sucker at the table. Funny how no one ever rocked up and told me he would like to give me his money so I could invest it and make a profit. Not even dear old Dad did that.
Or, buy rental properties and rent them and do your own maintenance on the properties, and pay a management company to manage the credit checks, securing the rent, evictions, etc.
Kiyosaki and his acolytes want you to give them your money.
But, also, those original ideas I mentioned are good ideas.
I thought exactly the same.
Gets you out of the "work for a living" mentality (slave/serf/factory worker mentality) and more into the investor mentality (rent seeking, assets not liabilities, etc.)
I often think Kiyosaki is a clown/huckster. He's always doing the "Wink-wink what's behind the next door will cost you but it's worth it. Only offered to my good friends!!!" tactic. But I equally think that first book is worth owning and reading.
Exactly. Work vs invest is a huge point. But yes he's a bit of a clown too.
He wrote a book with Trump, did he not ?
Yup.
Is RDPD the one where he rented comic books to the neighbor kids?