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Robert Kiyosaki; Worth listening to????
Topic Started: Dec 5 2006, 08:23 PM (196 Views)
ivorythumper
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I am so adjective that I verb nouns!
I was watching the PBS broadcast with Robert Kiyosaki -- seems to me to be rather infomercial. Has anyone here read his books and found them to be helpful or flawed?
The dogma lives loudly within me.
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CrashTest
Pisa-Carp
It looks interesting enough - I will pick up his book tomorrow, read it, and get back to you on Thursday.
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Axtremus
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HOLY CARP!!!
Read his "Rich Dad, Poor Dad" book. The parts that do not involve real estate are good. The rest of that book, I'm not impressed. I also haven't been impressed with anything else I've seen Mr. Kiyosaki published to date.
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kentcouncil
Fulla-Carp
He's a charlatan. Poor quality information.
It was a confusion of ideas between him and one of the lions he was hunting in Kenya that had caused A. B. Spottsworth to make the obituary column. He thought the lion was dead, and the lion thought it wasn't.

- P.G. Wodehouse
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CTPianotech
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Fulla-Carp
Isn't it obvious that the best way to get rich is to sell a system on how to get rich??

Hey wait a minute! MY name is Rich! I could go on TV, and tell people how they can 'get' Rich! I'll throw in some carp about 'be your own boss' 'buy low, get high' or whatever.

Then I will be RICH!!! and Rich! :) I just have to be careful not to get filthy Rich, otherwise I will have to try and fall asleep by farting around on the internet, rather than how I'd prefer to tire myself out. :whome:
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Axtremus
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HOLY CARP!!!
CTPianotech
 
'buy low, get high'

Brilliant! :lol:
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ivorythumper
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I am so adjective that I verb nouns!
He makes some interesting arguments about inflation (that the Gov evidently only uses CPI) to suggest that buying power decreases much more rapidly (eg, in the real estate sector). So if it takes X more money to buy the house this year than 10 years ago, your money is worth 1/X of what it was 10 years ago. Yet since housing prices do not uniformly rise, I don't see where he is taking into account market forces.

He also argues that since 95 gold is 200% (which the charts tell us have been all over the place)
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that our dollar is worth 50% of what it was 10 years ago. But in 2000 gold was worth less than in 1995, so was our dollar stronger? Or was gold worth less because of NASDAQ boom, and since has gone up along with real estate since the money went out of the stock market and into these sectors?

Ax: what is your concern about his real estate info? He sees it as a great way to build nontaxable wealth and income producing assets using other people's money (that you can't get a bank loan for stocks and bonds, but you can for real estate)... I'd like to hear your thoughts.
The dogma lives loudly within me.
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kentcouncil
Fulla-Carp
Some of Kiyosaki's "ideas" are useful, if hardly original: the benefits of owning a small business, a franchise, or real estate; and how it's better to work for yourself rather than someone else (duh!)... but he never really gets into the nuts and bolts, the practicalities of how to do this, and the info he does give is frequently wrong or out of date. His advice is glib and superficial. He says that he wants to "inspire" his readers rather than get into the specifics :rolleyes: . And of course, he never gets into the details of how he made his own "fortune"... that should be a warning right there. What's he hiding? Seeing him hustle his books on late-night informercials leads me to suspect he's not the successful tycoon he claims to be.

I wouldn't take him seriously. John Reed deconstructs Kiyosaki nicely:

http://www.johntreed.com/Kiyosaki.html
It was a confusion of ideas between him and one of the lions he was hunting in Kenya that had caused A. B. Spottsworth to make the obituary column. He thought the lion was dead, and the lion thought it wasn't.

- P.G. Wodehouse
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ivorythumper
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I am so adjective that I verb nouns!
Thanks for the Reed link, KC. Very interesting! I'll have to visit his other pages when I have more time.

The dogma lives loudly within me.
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