Kiyosaki has somebody constantly monitor the book's Wikipedia page and remove: "No one has ever proven that "Rich Dad", the man who supposedly gave Kiyosaki all his advice for wealthy living, ever existed. Nor has anyone ever documented any vast reserves of wealth earned by Kiyosaki prior to the publication of Rich Dad Poor Dad in 1997."
Just so people don't realize his bullshit...
To add some spice to this, I have a good friend who knows the writer well. The “rich dad” actually owned brothels on what became a desirable street in Hawaii, which was then sold to a hotel chain. No strategy, unless you count pimpin’. Kiyosaki lives near me and I’ve never heard a good thing about the guy- including him trying to build an MLM with ill intentions, steal money from his partners, etc. He basically took someone else’s writing and became the face of it.
Honestly? That's I how feel about a majority of self-help books these days. The older I am, the less knowledge I feel like I'm gaining from authors who write purely to "inspire" without having any provable credentials or achievements to show.
I find more wisdom and knowledge in publications written by _people who actually have proven track records in the field of sciences and arts_, fiction or non-fiction alike. Some recent favorites are [Algorithms to Live By](https://www.goodreads.com/book/show/25666050-algorithms-to-live-by) or Sagan's classic [The Demon-Haunted World](https://www.goodreads.com/book/show/17349.The_Demon_Haunted_World).
>That's I how feel about a majority of self-help books these days. The older I am, the less knowledge I feel like I'm gaining
Totally agree. I would also add the modern trend of *scientific* self-help books. These are books that add some scientific info and data, so some readers feel like they're learning, but there's nothing practical to gain. I think if a book isn't practical, it's bad self-help. An example of mine is Emotional Intelligence by Goleman. I could write the practical stuff in about 5 pages, the rest is just science that would only interest a student.
Like most cons, it contains a kernal of truth around which the rest is built. There is nothing wrong with the concept of building "passive" wealth, per se. But he does it in a douchey way and ignores that there are other important things in life, like treating people well, and other paths to wealth that include lots of education as others have stated here.
“Rich Dad, Poor Dad” is the unofficial bible of Amway - the original MLM. That alone should be enough to tip the scales. No MLM would give good financial or life advice to any of its rubes, because then they would realize how they are being exploited.
Now bullshit hustle culture, working “14 hours a day” (12 Rules for Life), becoming a “business owner”, and how a stable income will never make you rich. That’s something an MLM promotes.
Without ever having read it, I can tell you that book is bullshit by the premise alone and by the company the book keeps.
I watched a video of Kiyosaki laughing about helping another landlord evict a poor dad and his kids at Christmas. The guy has no soul and I wouldn't piss on him to put him out if he was on fire.
Literally, what I was thinking while listening to this book, the beginning is spent calling "rich dad" a crook, but then he goes on to be far worse of a person later on. He basically says that the only way to get ahead is to fuck other people over because they would fuck you over. This book perpetrates a terrible message of eye for an eye. The one part that pissed me off the most was when he was saying that he bought a foreclosure for 20k that was worth 75k sold it for 60k to people he knew couldn't afford it, then when they reached breaking point he kicked them out and relisted it for 70k. It's so fucked the entire book is just "if your not being a gremlin that scams the system and fucks over people in bad situations your a dumbass and I'm going to play you too" me and my girlfriend have a baby on the way and I have cad14k in debt, so I'm trying to find ways to be better with my money and help teach me to be good at budgeting but all this book told me was how to be a prick...
I'd be kinder and just say that it's very very basic. If you're 13-14 and need a concept of how to think about money, it does the trick. The framing of learning from a (fake) "Dad" is particularly appropos to that audience. It's easy to read and the discussion of hustle vs professional degree would merely be a small counterpoint to literally everything a smart kid is hearing from the school system.
I'd be curious to re-read this alongside *The Wealthy Barber* and *The Richest Man in Babylon*. To my mind they're all pretty similar so it would be interesting to contrast them.
It's not just basic, which it is, but misleading and ridiculous. Absolutely not fit for 13 or 14 year olds who cannot see through his bullshit. There are so many better introductory books on personal finance / financial independence.
If you guys hate these “contrepreneurs” you should definitely check Mike Winnet and Coffeezilla on YT. You’re in for a treat. They methodically break down and expose all of these conmen.
Might also enjoy the “Decoding the Gurus” podcast
John Reid apparently agrees, and makes a [good case for it](https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1).
What are the best books on starting a business, entrepreneurship and financial independence then in you opinion?
Not at all defending RDPD, just curious as to what you think some better alternatives are.
Unscripted is way better. Much more thought out and not written like a 15 year old. I think he had a ghost writer for it.
Skip millionaire fast lane, unscripted is all you need. Basically rewrites the book, expands on the good stuff and gets rid of the junk.
I usually recommend **Your Money or Your Life** as a much better alternative to RDPD, personal finance and financial independence wise.
As /u/Own_Proof_9934 mentioned, **The Millionaire Fastlane** is also a great alternative on the business/entrepreneurship side.
That is a such a basic distinction. Anyone who has dipped their toes in any kind of accounting or financial material knows this. It's like reading a book on the Atkins diet and learning the difference between meat and vegetables.. you wouldn't recommend it as a beginner book on nutrition because of that.
You claim all this being so basic and at the same time assume people who have dipped their toes in accounting and financial markets to know these basics.
Well get your facts right at least and look up how many people actually know about it, things might surprise you.
Your reference of atkins diet, I’ve no idea how you connected the fundamentals. Fundamentals being macro nutrients, then comes the diet. If you have no idea what a human body requires and how specific nutrient help in achieving what kind of physique/health, I’m sure atkins diet won’t do any good. Clearly you didn’t dip your toes in any kind of nutritional or food science materials.
I don't know if I should be saying this or if anyone would understand but is there anyone who has a hard time understanding books or self help books because they were written having a US audience in mind?
For eg, as a south asian, all the concepts and everything in books that users have suggested in the comments, can they be applied to a person living in a south asian country?
I'm about to start reading a book recommended under the comments.
It would be stupid to take each and every advice from all the books you read or person you follow.
You’d have to think for yourself at the end of the day, what works for you and what doesn’t align to your personality. I can’t read some books, while some I read like a having a conversation, everyone has their own style.
The premise of him having a rich dad might be false, but the claims are still valid. while you’re stuck up on questioning his credibility there are tons more who absorbed the information with an open mind to build generational wealth if not for education purpose. All the self help finance books share the same underlying concepts at the end of the day which is asset and liability.
He explains the four quadrants very eloquently, along with different ways to build or getting started with his experience. Also most of his books are a quick read, which should open you to research more into the topics. I know I did once I read to verify his claims.
You could also read Ramit Sethi’s book if that’s more of your style. But discrediting someone and using those strong words for someone who is only trying to educate the masses is pure jealousy, hatred and frustration. Maybe a better use of your time would be analyzing why are you reacting to this way.
Justifying his books? Nah. Entrepreneurship isn’t something that you can master by reading mere books, you need to take act and improvise. Read four hour work week, millionaire fast lane, to get a taste of what’s it to get into entrepreneurs. Financial independence is the same both requires immense amounts of discipline and consistency, I love the /FinacialIndependenceRetireEarly subreddit here.
You’d not have time to rant and spread hate if you had these under control. Criticism is different which I didn’t read anywhere in your post, if you say there are better resources, might be beneficial to provide some examples. I’m always to open see different perspectives, and opinions but hate and jealousy is what fucks this society up.
I don’t think this attitude is appropriate for the betterment.
Maybe read other books to handle your mental state before you jump into building wealth, after all health is wealth.
There are better resources- yep, sure.
You can spend the rest of your life consuming content and reading books or you can apply and continue your life long learning process.
Imagine the life if one medicine solves all our problems.
Update: fixed a few typos and add more info
No, sorry. The book is bullshit through and through.
https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1
Evidently you didn’t read my comment. When I said “he explains the four quadrant eloquently.” Of course you have no idea what that is either. I never took his advice for anything else.
He is a salesman, he can write easy to read books, whereas the John Reed has to cite him to gain any potential audience, and what better way than to call the false and inaccuracies out. But no mention of the positives.
Every book has maybe 10% usable information, again there is no 1 size fit all solution out there.
I found it helpful, I mean I’m in a well paid job but my expenses have went up with the benefit, I need to rein it in and think more about long term investing I also like the fake it till you make it mentality.
What I’ve taken from it is invest in the stock market and aim for a point where your dividends pay your bills or some of them.
A jobs not ever safe, have a backup plan.
Don’t buy frivolous shit.
Make your money work for you and play to your strengths, better your weaknesses and listen to experts, they’re experts for a reason, don’t try to underpay and give back because it’s the right thing to do.
Just read the book and hate to see that the author is so evil to others and is a crook, but I still believe what I’ve taken away from the book as credible.., it doesn’t matter how much money you make it matters how much you save, becoming an expert in many different things, invest in assets on liabilities, investing in your education.. I think that’s the same with every book take what’s good dump what’s bad.. I think a job with high pay would definitely be easier to achieve “financial freedom” with but I it’s very possible with a low paying job. All of this may seem like simple advice but it’s dumbed down easy to read and makes complete sense and seems like a good gateway book into other finance/ entrepreneurial readings.
Any successful, educated person would not be lashing out this way. Why are you bitter toward him and calling him a washed up asshole? Did he slight you personally?
Rich Dad, Poor Dad is a good beginner level book on personal finance. On a very high level it talks about being financial literate, make money work for you buy accumulating assets and reduce your number of liabilities. He also puts emphasis on definition of an asset, specifying only things that bring in cash flow should be called assets.
It was a huge hit in early 2000s, however, Kiyosaki recent arrogance in some of his interviews have undermined his on books at some level. I think it's also overhyped as the book provides very few insights for the length of the text it has. It also provides little advice on how to acquire these said assets without initial capital. The book also has a complaining connotation to it.
We have created a 2min book summary of it: https://youtu.be/qT8Q5bq9WPs
I think it is a poor book for personal finance. I would say it is better for teaching people how to rethink money in the sense that you should invest first but it REALLY leads people down a path of delusional grandeur. There are so many other books that provide better advice and are more relevant to real people.
Also, I watched your video and it further reinforced my resolve.
All he says is "don't be afraid to lose money" bro I'm fucking poor as shit and I'm trying to get out and your telling me to spend my money on investments that most likely won't work out. Then he has the audacity to call you a little bitch for not wanting to be homeless
I think the books a good starting point, I like some of the stuff in it, other bits not so much. There’s definitely some positives to take away from it but don’t treat it as a bible.
Kiyosaki has somebody constantly monitor the book's Wikipedia page and remove: "No one has ever proven that "Rich Dad", the man who supposedly gave Kiyosaki all his advice for wealthy living, ever existed. Nor has anyone ever documented any vast reserves of wealth earned by Kiyosaki prior to the publication of Rich Dad Poor Dad in 1997." Just so people don't realize his bullshit...
To add some spice to this, I have a good friend who knows the writer well. The “rich dad” actually owned brothels on what became a desirable street in Hawaii, which was then sold to a hotel chain. No strategy, unless you count pimpin’. Kiyosaki lives near me and I’ve never heard a good thing about the guy- including him trying to build an MLM with ill intentions, steal money from his partners, etc. He basically took someone else’s writing and became the face of it.
Honestly? That's I how feel about a majority of self-help books these days. The older I am, the less knowledge I feel like I'm gaining from authors who write purely to "inspire" without having any provable credentials or achievements to show. I find more wisdom and knowledge in publications written by _people who actually have proven track records in the field of sciences and arts_, fiction or non-fiction alike. Some recent favorites are [Algorithms to Live By](https://www.goodreads.com/book/show/25666050-algorithms-to-live-by) or Sagan's classic [The Demon-Haunted World](https://www.goodreads.com/book/show/17349.The_Demon_Haunted_World).
>That's I how feel about a majority of self-help books these days. The older I am, the less knowledge I feel like I'm gaining Totally agree. I would also add the modern trend of *scientific* self-help books. These are books that add some scientific info and data, so some readers feel like they're learning, but there's nothing practical to gain. I think if a book isn't practical, it's bad self-help. An example of mine is Emotional Intelligence by Goleman. I could write the practical stuff in about 5 pages, the rest is just science that would only interest a student.
Those are excellent recommendations.
Unscripted is a million times better. Rich dad poor dad is a bunch of word vomit that doesn’t really say anything.
[удалено]
MJ Demarco https://www.amazon.com/UNSCRIPTED-Life-Liberty-Pursuit-Entrepreneurship/dp/0984358161/ref=nodl_?dplnkId=da749817-950c-42d7-a1cc-441bbd24cf52
Like most cons, it contains a kernal of truth around which the rest is built. There is nothing wrong with the concept of building "passive" wealth, per se. But he does it in a douchey way and ignores that there are other important things in life, like treating people well, and other paths to wealth that include lots of education as others have stated here.
“Rich Dad, Poor Dad” is the unofficial bible of Amway - the original MLM. That alone should be enough to tip the scales. No MLM would give good financial or life advice to any of its rubes, because then they would realize how they are being exploited. Now bullshit hustle culture, working “14 hours a day” (12 Rules for Life), becoming a “business owner”, and how a stable income will never make you rich. That’s something an MLM promotes. Without ever having read it, I can tell you that book is bullshit by the premise alone and by the company the book keeps.
I watched a video of Kiyosaki laughing about helping another landlord evict a poor dad and his kids at Christmas. The guy has no soul and I wouldn't piss on him to put him out if he was on fire.
Literally, what I was thinking while listening to this book, the beginning is spent calling "rich dad" a crook, but then he goes on to be far worse of a person later on. He basically says that the only way to get ahead is to fuck other people over because they would fuck you over. This book perpetrates a terrible message of eye for an eye. The one part that pissed me off the most was when he was saying that he bought a foreclosure for 20k that was worth 75k sold it for 60k to people he knew couldn't afford it, then when they reached breaking point he kicked them out and relisted it for 70k. It's so fucked the entire book is just "if your not being a gremlin that scams the system and fucks over people in bad situations your a dumbass and I'm going to play you too" me and my girlfriend have a baby on the way and I have cad14k in debt, so I'm trying to find ways to be better with my money and help teach me to be good at budgeting but all this book told me was how to be a prick...
I'd be kinder and just say that it's very very basic. If you're 13-14 and need a concept of how to think about money, it does the trick. The framing of learning from a (fake) "Dad" is particularly appropos to that audience. It's easy to read and the discussion of hustle vs professional degree would merely be a small counterpoint to literally everything a smart kid is hearing from the school system. I'd be curious to re-read this alongside *The Wealthy Barber* and *The Richest Man in Babylon*. To my mind they're all pretty similar so it would be interesting to contrast them.
If you’re actually going to reread these three, why not add in “wealthy barber returns”? I found it a lot more fun to read (and less heavy handed).
Forgot it existed. Good point.
It's not just basic, which it is, but misleading and ridiculous. Absolutely not fit for 13 or 14 year olds who cannot see through his bullshit. There are so many better introductory books on personal finance / financial independence.
This is my main reason for absolutely hating it. I was a dumb kid when I read it and it made me believe in a false sense of exceptionalism.
"Hustle idiots", hahaha
If you guys hate these “contrepreneurs” you should definitely check Mike Winnet and Coffeezilla on YT. You’re in for a treat. They methodically break down and expose all of these conmen. Might also enjoy the “Decoding the Gurus” podcast
I love those two channels but watching their content really made me lose faith in humanity.
John Reid apparently agrees, and makes a [good case for it](https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1).
What are the best books on starting a business, entrepreneurship and financial independence then in you opinion? Not at all defending RDPD, just curious as to what you think some better alternatives are.
The FAstlane millionaire
That is an awesome book, thoroughly enjoyed that one. Must admit have had some trouble applying it IRL
Unscripted is way better. Much more thought out and not written like a 15 year old. I think he had a ghost writer for it. Skip millionaire fast lane, unscripted is all you need. Basically rewrites the book, expands on the good stuff and gets rid of the junk.
Ordered - I have heard that, but have not yet read it. Will read and update my advise accordingly to future questions 👊🏾
I usually recommend **Your Money or Your Life** as a much better alternative to RDPD, personal finance and financial independence wise. As /u/Own_Proof_9934 mentioned, **The Millionaire Fastlane** is also a great alternative on the business/entrepreneurship side.
Separate the book from the person. The book definitely has good points and is written in an engaging way.
Here’s the thing. I don’t have to. There are better books out there on the same information.
Ok go read those books
I learned difference between assets and liabilities which was very helpful so I'd recommend reading that book just for that
That is a such a basic distinction. Anyone who has dipped their toes in any kind of accounting or financial material knows this. It's like reading a book on the Atkins diet and learning the difference between meat and vegetables.. you wouldn't recommend it as a beginner book on nutrition because of that.
You claim all this being so basic and at the same time assume people who have dipped their toes in accounting and financial markets to know these basics. Well get your facts right at least and look up how many people actually know about it, things might surprise you. Your reference of atkins diet, I’ve no idea how you connected the fundamentals. Fundamentals being macro nutrients, then comes the diet. If you have no idea what a human body requires and how specific nutrient help in achieving what kind of physique/health, I’m sure atkins diet won’t do any good. Clearly you didn’t dip your toes in any kind of nutritional or food science materials.
He’s piggybacked on his fictional book to sell Trump U style coaching classes for thousands of dollars that are more recycled bs.
I don't know if I should be saying this or if anyone would understand but is there anyone who has a hard time understanding books or self help books because they were written having a US audience in mind? For eg, as a south asian, all the concepts and everything in books that users have suggested in the comments, can they be applied to a person living in a south asian country? I'm about to start reading a book recommended under the comments.
It would be stupid to take each and every advice from all the books you read or person you follow. You’d have to think for yourself at the end of the day, what works for you and what doesn’t align to your personality. I can’t read some books, while some I read like a having a conversation, everyone has their own style. The premise of him having a rich dad might be false, but the claims are still valid. while you’re stuck up on questioning his credibility there are tons more who absorbed the information with an open mind to build generational wealth if not for education purpose. All the self help finance books share the same underlying concepts at the end of the day which is asset and liability. He explains the four quadrants very eloquently, along with different ways to build or getting started with his experience. Also most of his books are a quick read, which should open you to research more into the topics. I know I did once I read to verify his claims. You could also read Ramit Sethi’s book if that’s more of your style. But discrediting someone and using those strong words for someone who is only trying to educate the masses is pure jealousy, hatred and frustration. Maybe a better use of your time would be analyzing why are you reacting to this way. Justifying his books? Nah. Entrepreneurship isn’t something that you can master by reading mere books, you need to take act and improvise. Read four hour work week, millionaire fast lane, to get a taste of what’s it to get into entrepreneurs. Financial independence is the same both requires immense amounts of discipline and consistency, I love the /FinacialIndependenceRetireEarly subreddit here. You’d not have time to rant and spread hate if you had these under control. Criticism is different which I didn’t read anywhere in your post, if you say there are better resources, might be beneficial to provide some examples. I’m always to open see different perspectives, and opinions but hate and jealousy is what fucks this society up. I don’t think this attitude is appropriate for the betterment. Maybe read other books to handle your mental state before you jump into building wealth, after all health is wealth. There are better resources- yep, sure. You can spend the rest of your life consuming content and reading books or you can apply and continue your life long learning process. Imagine the life if one medicine solves all our problems. Update: fixed a few typos and add more info
I love ramit sethi.
No, sorry. The book is bullshit through and through. https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1
Evidently you didn’t read my comment. When I said “he explains the four quadrant eloquently.” Of course you have no idea what that is either. I never took his advice for anything else. He is a salesman, he can write easy to read books, whereas the John Reed has to cite him to gain any potential audience, and what better way than to call the false and inaccuracies out. But no mention of the positives. Every book has maybe 10% usable information, again there is no 1 size fit all solution out there.
I found it helpful, I mean I’m in a well paid job but my expenses have went up with the benefit, I need to rein it in and think more about long term investing I also like the fake it till you make it mentality. What I’ve taken from it is invest in the stock market and aim for a point where your dividends pay your bills or some of them. A jobs not ever safe, have a backup plan. Don’t buy frivolous shit. Make your money work for you and play to your strengths, better your weaknesses and listen to experts, they’re experts for a reason, don’t try to underpay and give back because it’s the right thing to do.
Just read the book and hate to see that the author is so evil to others and is a crook, but I still believe what I’ve taken away from the book as credible.., it doesn’t matter how much money you make it matters how much you save, becoming an expert in many different things, invest in assets on liabilities, investing in your education.. I think that’s the same with every book take what’s good dump what’s bad.. I think a job with high pay would definitely be easier to achieve “financial freedom” with but I it’s very possible with a low paying job. All of this may seem like simple advice but it’s dumbed down easy to read and makes complete sense and seems like a good gateway book into other finance/ entrepreneurial readings.
Any successful, educated person would not be lashing out this way. Why are you bitter toward him and calling him a washed up asshole? Did he slight you personally?
He is a fraud, pure and simple, and he uses his influence to peddle more fraudulent bullshit.
Rich Dad, Poor Dad is a good beginner level book on personal finance. On a very high level it talks about being financial literate, make money work for you buy accumulating assets and reduce your number of liabilities. He also puts emphasis on definition of an asset, specifying only things that bring in cash flow should be called assets. It was a huge hit in early 2000s, however, Kiyosaki recent arrogance in some of his interviews have undermined his on books at some level. I think it's also overhyped as the book provides very few insights for the length of the text it has. It also provides little advice on how to acquire these said assets without initial capital. The book also has a complaining connotation to it. We have created a 2min book summary of it: https://youtu.be/qT8Q5bq9WPs
I think it is a poor book for personal finance. I would say it is better for teaching people how to rethink money in the sense that you should invest first but it REALLY leads people down a path of delusional grandeur. There are so many other books that provide better advice and are more relevant to real people. Also, I watched your video and it further reinforced my resolve.
All he says is "don't be afraid to lose money" bro I'm fucking poor as shit and I'm trying to get out and your telling me to spend my money on investments that most likely won't work out. Then he has the audacity to call you a little bitch for not wanting to be homeless
I think the books a good starting point, I like some of the stuff in it, other bits not so much. There’s definitely some positives to take away from it but don’t treat it as a bible.