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Re: Accidentally watched a Kiyosaki video today
Old 03-06-2007, 01:56 PM   #21
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Re: Accidentally watched a Kiyosaki video today

I used to post that I got something out of Rich Dad Poor Dad, but I don't now recall what it was. It was early in my financial education, and RDPD was just a single book, not a franchise.

After reading Reed's site I printed it out and put it in my RDPD book in case I reread it later. I think I finally got rid of the thing....I either trashed it or left the Reed stuff in there as a warning to the next owner.

It's been a while, but from what I recall I think the success was due to it's being a "feel good" financial book.
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Re: Accidentally watched a Kiyosaki video today
Old 03-06-2007, 06:00 PM   #22
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Re: Accidentally watched a Kiyosaki video today

Quote:
Originally Posted by newyorklady
My wife, Kim, has a friend who's a successful architect. Her husband was a manager of a good sized advertising agency. They have three children, the oldest in high school, and earn about $350,000 a year in combined income.

Because they were flush with cash, this couple purchased two high-end vacation homes, one in the mountains and one at the beach. They live most of the year in a McMansion in Phoenix.

Things were going along fine until the husband lost his biggest client. Then he lost his job, and in less than three months their savings was depleted. They then tried to sell their vacation homes, but the values had dropped below the mortgage amount. Today, they continue to pay the mortgages on their houses and hope the price of real estate will go back up. They sold one of their BMWs at a loss.

In 2005, they were net-worth millionaires. In 2007, they're facing bankruptcy.
Err, sounds to me that if they went upside down on the mortgages that fast, that they had no equity. Furthermore, they exhausted their savings in only three months. I'm not so believing that they were ever net-worth millionaires. Sounds like at best they had a couple hundred thousand dollars in net-worth, spread very thinly across home equity.

And anyone who goes broke in only 3 months when they've been making 350k/year is an irresonsible idiot.
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Re: Accidentally watched a Kiyosaki video today
Old 03-06-2007, 06:04 PM   #23
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Re: Accidentally watched a Kiyosaki video today

agreed problem is, there are lots of irresponsible idiots out there, including our government. how is this going to affect the rest of us though? i don't buy the deflation bit of this argument, well, housing prices will be lower, but does this necessarily correlate with the cost of living overall?
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Re: Accidentally watched a Kiyosaki video today
Old 03-06-2007, 06:11 PM   #24
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Re: Accidentally watched a Kiyosaki video today

Quote:
Originally Posted by brewer12345
Kiyosaki = assclown.


Think what a great movie they could make about real estate investments in lieu of a high tech office.
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Re: Accidentally watched a Kiyosaki video today
Old 03-06-2007, 07:57 PM   #25
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Re: Accidentally watched a Kiyosaki video today

Quote:
Originally Posted by brewer12345
Kiyosaki = assclown.
Come on, Brewer. Tell us what you really think.
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Re: Accidentally watched a Kiyosaki video today
Old 03-06-2007, 08:05 PM   #26
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Re: Accidentally watched a Kiyosaki video today

At least he's suppressing the stuff about young pigs.
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Re: Accidentally watched a Kiyosaki video today
Old 03-07-2007, 07:19 AM   #27
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Re: Accidentally watched a Kiyosaki video today

Quote:
Originally Posted by Cute Fuzzy Bunny
At least he's suppressing the stuff about young pigs.
Nah, Kiyoassclown isn't a piglet sodomizer, at least AFAIK (there's an interesting thought). But he definately has potential...
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Re: Accidentally watched a Kiyosaki video today
Old 03-07-2007, 07:32 AM   #28
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Re: Accidentally watched a Kiyosaki video today

Is he the sodomizer, or the piglet?
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Re: Accidentally watched a Kiyosaki video today
Old 03-07-2007, 07:56 AM   #29
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Re: Accidentally watched a Kiyosaki video today

Quote:
Originally Posted by NinjaPigeon
Err, sounds to me that if they went upside down on the mortgages that fast, that they had no equity. Furthermore, they exhausted their savings in only three months....
That was exactly my thought as well. Kiyosaki makes it sound as if having the 2 vacation homes would have been a brilliant strategy had the economy not turned south.

Heck most on this board make less than 350k and would survive much better than this couple... maybe we should all write books.

Oh wait, no, they wouldn't sell, because living within your means and building a portfolio isn't near as sexy as the vague feel-good 'advice' Mr. K. dispenses.

I second the ass-clown vote

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Re: Accidentally watched a Kiyosaki video today
Old 03-07-2007, 10:12 AM   #30
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Re: Accidentally watched a Kiyosaki video today

It is with great embarrasment that I confess to spending $10.95 (or whatever it was) for RDPD.

Suffice it to say that within a few pages, my bullsh!tometer was pegged. 10 lbs of bs in a 5 lb. sack.

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Re: Accidentally watched a Kiyosaki video today
Old 03-07-2007, 10:28 AM   #31
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Re: Accidentally watched a Kiyosaki video today

Quote:
Originally Posted by HFWR
Is he the sodomizer, or the piglet?
Maybe both.
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Re: Accidentally watched a Kiyosaki video today
Old 03-07-2007, 03:50 PM   #32
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Re: Accidentally watched a Kiyosaki video today

Quote:
Originally Posted by DRiP Guy
But also realize that he is running a small business, too. That business is in selling you crap. Just like those S/W trading program infomercials, or the two 'short people' real estate kit guys on TV, they all are in the "get rich dreams biz."

For them, the cash cow is not in the real estate, not in the markets, not in the futures, not in whatever the ostensible topic is they want you to believe. Instead, it is in the 'package' or 'system' they are selling to you.
And if I remember correctly (and that's a stretch! ), he describes himself as a best "selling" author. It seems as though his is more of a salesman (someone mentioned snake oil??) than a real estate or financial guru.
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