20/20: Rich Dad Poor Dad

poundwise · #1 (**permalink**) 05-20-2006, 09:48 AM

As a part of their theme Friday night, 20/20 looked at Robert T. Kiyosaki and his series of books and seminars.

I believe I had seen references to him and this series before here on SavingAdvice.com and I was just wondering what some of the people here think about Kiyosaki.

I know television 'news' programs can be terribly slanted and with edited interviews you hardly know what you are getting, but from what I saw and heard, I was not at all impressed with Rich Dad Poor Dad or Kiyosaki.

I'll reserve further comment at least until I hear from some people who are familar with the book/series.

jmjj215 · #2 (**permalink**) 05-20-2006, 10:31 AM

This critique of him by Reed was particularly interesting.

What I like: he's motivated a lot of people to think differently (in a good way) about becoming wealthy through his first book.

What I don't like: his other books are (and a lot of his first book even is) a bunch of drivel - his writing is so hard to read. Also, I don't feel he's completely forthright about his achievements (but loves to brag about them).

Ima saver · #3 (**permalink**) 05-20-2006, 10:46 AM

I did read his good book, but I am not that impressed with him either.

katwoman · #4 (**permalink**) 05-20-2006, 01:57 PM

For the life of me, I still can't figure out why he's gotten to be such a guru! Other than point out that RE is something you should own and that business owners come out ahead, what has he really contributed?

I've heard a lot of these guys and their minions on air and in person. The only one, in my book, that is close to the real deal is Ron LeGrand.

PRICEPLUS · #5 (**permalink**) 05-20-2006, 03:58 PM

I am singularly unimpressed by his book.

abowers · #6 (**permalink**) 05-20-2006, 04:15 PM

My boyfriend just picked this book up today at a used book sale for $.50. Haven't started reading yet, so no opinion yet.

tgavin71 · #7 (**permalink**) 05-20-2006, 04:23 PM

I've read Rich Dad Poor Dad and have to agree with you all. I didn't find it to be the 'be all and end all' financial freedom self help books.

zoe · #8 (**permalink**) 05-20-2006, 06:41 PM

I read it a while ago and I thought it was vague and uninspiring. And please correct me if I'm wrong but I seem to remember he and his wife mooched off their friends and family because they didn't want to work while they were deciding how to make their millions. That's just laziness.

Haku · #9 (**permalink**) 05-21-2006, 05:18 AM

I can not say that I am at all impressed with Mr. Kiyosaki. I have read apologists explain that he is a good motivator on thinking outside the debt box, and this I do have to agree. The trouble is, beyond that, he doesn't share much in the ways of "how", and the bits and pieces that he has shared has come under quite a bit of criticism from the investment community at large.

I could be wrong, but that's just what I think anyways....

Of course, Dave Ramsey is also a good motivator, and while I don't necessarily agree with some of Mr. Ramsey's finer details (blanket psychology over savings), at least he has a viable system to offer.

robex · #10 (**permalink**) 05-21-2006, 08:01 AM

I'm more along the Dave Ramsey lines, too. Don't really like the Rich Dad/Poor Dad outlook. For me, slow and steady wins the race...maybe if I was more of a risk taker...

shelbylovesmelby · #11 (**permalink**) 05-21-2006, 09:54 AM

I only saw the show & I wasn't impressed with anything he said. Just another schmoe making big $$ by telling people how they can make $$, when the only one who's making any $ is probably him w/ all his seminars ect. My half sisters used to go to these "free" seminars & they aren't swimming in any kind of $!

I'm not much of a risk taker either.

poundwise · #12 (**permalink**) 05-21-2006, 11:36 AM

Well, that's kind of the point. From what I saw and what he said, it doesn't seem like he actually tells anyone how to do anything. Just gives encouragement to people to do something more, to 'go for it'. I don't know. If it helps some people then great but, frankly, I don't see anything of value. Maybe I should read one of the books.

Ima saver · #13 (**permalink**) 05-21-2006, 02:02 PM

You know I read his book, years back, and really can't remember anything about it. I guess it did not leave a lasting impression on me.

VJW · #14 (**permalink**) 05-21-2006, 02:51 PM

I’d say both Kiyosaki and Stanley have been well eviscerated by now, and Stossel has merely become a propaganda tool.

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asha · #15 (**permalink**) 05-22-2006, 02:34 AM

Quote:

Originally Posted by jmjj215

This critique of him by Reed was particularly interesting.

What I like: he's motivated a lot of people to think differently (in a good way) about becoming wealthy through his first book.

What I don't like: his other books are (and a lot of his first book even is) a bunch of drivel - his writing is so hard to read. Also, I don't feel he's completely forthright about his achievements (but loves to brag about them).

I couldn't have put it better, myself!!

markio26 · #16 (**permalink**) 05-22-2006, 08:32 AM

i used to own all of his books, sold them to ebookdrop.com
i didn't learn anything new.. not really.. just his fictional family story, some say... don't know, don't care... suze orman is good...

I THINK JEFFREY'S CHALLENGES AND THE INFO ON THIS SITE IS THE BEST WAY TO LEARN... AND THE INTERACTION OF THE MEMBERS BY POSTING...

Ima saver · #17 (**permalink**) 05-22-2006, 10:16 AM

I agree, Mark!

fultron · #18 (**permalink**) 05-23-2006, 05:46 AM

I only read the original "Rich Dad, Poor Dad." It was decent as a motivational tool but it didn't offer a lot of useful information. He talks in grand and vague terms but gives little details. Seems too interested in selling his other books and products.

asmom · #19 (**permalink**) 05-26-2006, 11:05 AM

I'm embarassed to admit that a couple of years ago, I allowed myself to get sucked in and I signed up for the Rich Dad coaching seminars on real estate investing and other ways to make money. Fortunately I came to my senses and I changed my mind before the 3 days was up so I was able to get my money back. It was a ridiculous amount of money, something like $4000 for the "course". However, it was not easy, the salesperson was very aggressive and used several of the tried and true techniques to get me to give up and continue on with the "coaching". In fact, he was quite the bully about it.