Kiyosaki

[Jay_Gatsby]

Quote:

Originally Posted by daverph That infomercial was from King of the Hill, not Family Guy.* I hate to admit I saw that episode but there are worse things in life.*

Yeah, that kinda sounded like the "Khan" character....

[spideyrdpd]

I dont think RK has to sleep with anyones wife. I have met his wife and she is a very nice lady and very attractive.

Gotta love the RK bashers. Although I dont buy into everything he says either. Especially when he discusses stocks. Which as someone wrote is something he says he doesnt do. Or is it just funds.



I am a poster on the richdad forum and do think thats theres a lot of spam and network marketing, but thats not all thats there.
The basic message there is the same as the basic message here.
Dont spend everything you make. Take the first 10% (if not more) and invest it .

The biggest difference though is many of us embrace debt and you guys dont.

[d]

Quote:

... and invest it

so when he calls savers and investors stupid, what he really means is what?

[spideyrdpd]

Hi D
Whats your point in bashing RK . How does that get you ahead in life.
Is anyone right about everything. Ok besides me

There are a few key points that many people would do well to learn .
To me its ok to say that you should save and be frugal. Yet I really wonder how many people make enuff money to save and be frugal and retire early. Many people here that have done it also have gotten a pension. Today the pension seems to be going the way of the dinosaur. I think RK has an article about that. My sister left cause her penison was froze. No point to staying on.

Theres a ton one can say on investing and the average investor. Do you think the average investor is smart.
Seems to me that many wait till the stock rises and then they buy . Then the stock falls and then they sell.
Most of what I read about the avg investor is they are 8-9k in debt and use there house as a piggybank ......

I am thinking that the majority of the posters and most of the readers here do have a better grasp on things.

[larry]

My point in bashing Kiyosaki has to do with the crap he tends to spread. If you ask me, it's not really any better than scamming old widows through a fake Canadian lottery. These people really pi$$ me off. Not much better than Charles Givens.

[Nords]

Quote:

Originally Posted by spideyrdpd Gotta love the RK bashers. Although I dont buy into everything he says either. Especially when he discusses stocks. Which as someone wrote is something he says he doesnt do.

Spidey, how do you feel about his lying about his military record?

http://www.johntreed.com/Kiyosaki.html

[d]

Quote:

Whats your point in bashing RK

Spidey: reread my posts and you will note that i have not been bashing Kiyosaki, but have merely quoted and paraphrased him.* indeed, it has been his words, not mine, which draw the ire of others. and perhaps you misunderstand, it's not that i dislike the man, only that he makes me vomit.

[Enuff2Eat]

i am with spidey.

i like RK but like most of you said he tends to contradict himself everynow and then. the point is that he does gives good advice and bad advice. you just got to pick and choose what you want to learn and skip the BS.

everything i learned in college did NOT applied in my life BUT heck we spent $15,000 a year on college tuition ... then after 4 years of college the kids come home with the parents.

if i spend $13 on a book and out of 200 pages in the book, 199 pages of it are useless information and one page that i can learn and applied to my situation then its GOOD enuff for me. and i believe it's a bargain for a financial education.

yes, he does made some BS about his military record and that's not cool but in many ways people tends to blow things out of proprotion to make it "sounds" good. i know alot of retired veteran do the same thing and i found that to be harmless....

just one more thing, DON'T ask uncle Bush about his record.

enuff

[Jay_Gatsby]

Kiyosaki does make a good point in emphasizing that you should make your money work for you, rather than working for your money. Likewise, he makes a good point about using OPM (other people's money) to make money, rather than your own. The problem is that the average person isn't sophisticated enough to understand or is not disciplined enough to follow through on his advice. At the same time, however, Kiyosaki does play fast and loose with the truth regarding his own background and secret for success, causing many people to distrust him and his advice.

As for Charles Givens, I though his Superself book had some good advice as well. Much of it, like Kiyosaki's books (and Tony Robbins for that matter) is rehashed material from self-help books dating back hundreds of years.

[runchman]

The thing I have a problem with, is that he expects everyone to start and run their own business and be successful.

Is this really reasonable advice when the majority of the population are challenged by the mental processing required for navigating a 4-way stop intersection?

[justin]

Let's face it - half the population is of below average intellect. Which option would you recommend this half follows - (A) Invest in a broadly diversified portfolio of low cost mutual funds set on auto-invest or (B) invest in highly leveraged real estate which requires tons of skills to do successfully?

(I'm just hoping I'm in the "above-average" half )

[maddythebeagle]

Quote:

Let's face it - half the population is of below average intellect.

right, but I think the bigger problem is this group thinks that they are the other half Take JG for example.

[justin]

I've seen some pretty well educated folks fall for the Kiyosaki nonsense. They usually lack a B.S. detector. They also decided Kiyosaki's nonsense sounds like much better nonsense than the Amway that they were selling prior to discovering the magic of Kiyosaki.

Kiyosaki is just another get-rich-quick scheme. Sure, if you construe his words in the right manner, and if you successfully separate and ignore the 199 out of 200 pages of B.S. in each of his books, and if you are prepared to work very hard to acheive your goals and spend a considerable amount of time doing so, you can be very successful. However that's a tautology - anyone who is "prepared to work very hard to acheive your goals and spend a considerable amount of time doing so" will most likely be successful, with or without Kiyosaki's input (I almost said "help" instead of "input").

[brewer12345]

Kiyosaki = assclown

Not much more to say, really.

[nfs]

Quote:

Originally Posted by free4now An acquaintance just attended a free 3 day intensive at: www.millionairemind.com and gushed about how everyone should go. He couldn't stop talking about how motivating it was to get to a place where money wasn't an issue. But when I asked him what was the one takeaway idea he learned, he just said it was really motivating. That seems to be the Kiyosaki approach as well: Get people psyched up to make progress with money, but don't give any good advice about what to actually do. People feel the excitement and confuse it with progress.

Run away from T. Harv Eker. Never charged AFAIK, he has a long serial association with dozens, perhaps hundreds now, of dubious schemes. For years, he hung around Vancouver and was repeatedly written up by David Baines at the Vancouver Sun. Here's just one instance.

http://charitycheck.ca/ccc/pages/media_story7.php

[eridanus]

Real estate always goes up!

[justin]

Quote:

Originally Posted by eridanus Real estate always goes up!

That's a lie! Everyone knows that only the real estate that always goes up is guaranteed to only go up. Just buy that kind and you can get 20% returns every two weeks.

[brewer12345]

Quote:

Originally Posted by eridanus Real estate always goes up!

So does gold, GOLD, GOLD!!!!!!! :

[Jay_Gatsby]

Quote:

Originally Posted by free4now That seems to be the Kiyosaki approach as well:* Get people psyched up to make progress with money, but don't give any good advice about what to actually do.* People feel the excitement and confuse it with progress.

This is the heart of the problem. Emotional motivation is great, but without concrete steps towards a goal it is useless. Kiyosaki can't give people anything more than emotional motivation and simple platitudes regarding "how the rich got rich" because he himself has never built a successful business -- other than a motivational speaking business, of course. There are plenty of step-by-step books on entrepreneurship, but they're boring to most people since they don't dangle the carrots of immeasurable wealth, happiness and a promise of the "good life". Rather, they emphasize complex concepts such as marketing, customers, inventory, accounting, corporate structure, stock, etc.... Why worry about such things when you can simply flip real estate and make a bundle?

The whole thing reminds me of the following "Laws of Power" (from the book by the same title):

Law 27 -- Play on People’s Need to Believe to Create a Cultlike Following

People have an overwhelming desire to believe in something. Become the focal point of such desire by offering them a cause, a new faith to follow. Keep your words vague but full of promise; emphasize enthusiasm over rationality and clear thinking. Give your new disciples rituals to perform, ask them to make sacrifices on your behalf. In the absence of organized religion and grand causes, your new belief system will bring you untold power.

Law 30 -- Make your Accomplishments Seem Effortless

Your actions must seem natural and executed with ease. All the toil and practice that go into them, and also all the clever tricks, must be concealed. When you act, act effortlessly, as if you could do much more. Avoid the temptation of revealing how hard you work – it only raises questions. Teach no one your tricks or they will be used against you.

Law 32 -- Play to People’s Fantasies

The truth is often avoided because it is ugly and unpleasant. Never appeal to truth and reality unless you are prepared for the anger that comes for disenchantment. Life is so harsh and distressing that people who can manufacture romance or conjure up fantasy are like oases in the desert: Everyone flocks to them. There is great power in tapping into the fantasies of the masses.

Law 37 -- Create Compelling Spectacles

Striking imagery and grand symbolic gestures create the aura of power – everyone responds to them. Stage spectacles for those around you, then full of arresting visuals and radiant symbols that heighten your presence. Dazzled by appearances, no one will notice what you are really doing.

[larry]

Quote:

Originally Posted by justin Let's face it - half the population is of below average intellect.* Which option would you recommend this half follows - (A) Invest in a broadly diversified portfolio of low cost mutual funds set on auto-invest or (B) invest in highly leveraged real estate which requires tons of skills to do successfully?* (I'm just hoping I'm in the "above-average" half* * )

This is why I cannot stand authors (or radio personalities for that matter) who only give half the story. *Most investors are only astute enough for mutual funds so it doesn't help most investors to be telling them basically that you're getting screwed investing in mutual funds. *"Give a man a fish...."

Charles Givens had some good advice, RK has some good advice, Dave Ramesy has some good advice but to have to sort through it all to find the good advice is almost a waste of time. *

Sure, you've got to start somewhere but these people are not it.