Imaginos1892 wrote:Everything I've found out about Kiyosaki tells me he's a fraud. He claims to be some sort of financial and real-estate guru but in reality all his money came from selling get-rich-quick schemes to suckers. I don't think he's ever made an honest dollar.
Don't open that!! It's the original can of worms!
Sources, please. I don't want to suggest a fraud to anyone. OTOH, his points about the wealthy buying assets first, while the poor buy liabilities first; the three types of spending; and the four patterns of earning honestly; have resonated with what I know from other sources
Several years ago I followed a link from Motley Fool to an article, and a series of web pages. Kiyosaki sued John T. Reed for calling him a fraud, and lost. Reed spent a lot of time and effort digging up evidence for his defense, and it made fascinating, if disgusting, reading. Reed is still calling Kiyosaki a fraud, unopposed.
Kiyosaki used to be a big shot at Amway. The book 'Rich Dad Poor Dad' only became a best seller after
it was put on Amway's required reading list. Every sucker in Amway had
to buy it. That alone was enough to make it look like a huge best seller. Then
ignorant people decided if it was a best seller, it must be good. If you don't know about Amway, and have a strong stomach, look it up.
The rich can afford to buy both assets and liabilities. A car is a liability, but try getting ahead without one. Yes, there are a few valid catch-phrases in there, but nothing useful. How do you buy assets? How do you decide which stock is an asset? [crickets]
Type 'kiyosaki fraud' into Google and you get over 480,000 results. Just type 'kiyosaki' and over half the first-page results are about fraud.
Nobody expects the Spanish Inquisition!!