Kiyosaki

[d]

he's at it again! (Tuesday, June 27, 2006)
1) "A vast number of people think that investing for the long term in a diversified portfolio of mutual funds is the smart thing to do. In my opinion, this ranks among the worst possible investments."
2) "Most index funds think a 10 percent to 25 percent return is a good rate. Active investors can regularly beat those gains, especially if they stay away from traditional investments such as savings, stocks, bonds, and index and mutual funds"

 

[larry]

Hell yes mutual funds are poor investments if you're fleecing the American public with your seminars and books! He's about as worthless as tits on a boar.

 

[modlair]

I've seen this kind of thing before. Sometimes you can make good estimates of just how much money was made on the big bestseller book -- and sometimes it's not that much money.

The author has to scramble to make hay while the making is good and his name does not fade. Sequels help, but there is an end to that revenue. There's an end to all that stuff and the mighty do fall.

Case in point, have a look at the below website and see if you notice any evidence that advertisers lined up to be seen there.

http://www.granvilleletter.com/Joe/

 

[education]

That picture of Granville on the website: He sure does look good for being almost 82

But seriously, I know I'm having too many "senior moments" at 58. I sure don't think I want to trust my financial future to someone old enough to be my father!!!!!!!!!

Professor

 

[Nords]

he's at it again! (Tuesday, June 27, 2006)

I think that he & JG have decided that there's no such thing as bad publicity.

Besides, there are very few hucksters out there who are consistently right or consistently wrong. The nice thing about Kiyosaki is that he's so predictably wrong with his pleas for attention...

I wonder how much of his fortune he's giving to Bill Gates' foundation.

 

[terminator]

Well, technically you can warp your mind and make his statements correct:

1. Mutual funds are the worst investment. Well, between low cost index funds and regular mutual funds, that's true, mutual funds are the worst investment.

2. Investors can beat 10-25% regularly by staying away from traditional investments. Well, true, you can beat 25% regularly if you start up a small business, work your butt off and don't count your labor as a cost of doing business.

The guy is such a con man. How he could assert that the funds get 80% of your gains (yes, I saw his "math") with a straight face is beyond me.

 

[Alex]

You guys should really visit his Forum. Hilarious stuff. I read one post where one of Kiyosaki's followers was going to retire on 200K and live off of the 20% interest he could easily earn. Barnum was right - a new sucker is born everyday.

http://forum.richdad.com/forums/

 

[justin]

You guys should really visit his Forum. Hilarious stuff. I read one post where one of Kiyosaki's followers was going to retire on 200K and live off of the 20% interest he could easily earn. Barnum was right - a new sucker is born everyday.

http://forum.richdad.com/forums/

Wow. Check out the testimonials section. The forum moderators screen for content before clearing testimonial posts for public viewing. Reading through the forums, it seems like every one of their members is a "network marketer". I guess they all get "rich*" by selling each other pyramid schemes.

Thank goodness I was able to recognize Kiyosaki for what he is after only one book.

*not rich by most objective standards or the standards of this board

 

[eridanus]

"It isn't that I don't want to invest, it's just that I invest without these plans [mutual funds through a 401k plan] and I generate 20% every 2 weeks or so."

It's a wonder why this guy doesn't own the ENTIRE WORLD by now!!!

 

[haha]

All I needed to make me hate that shyster was his bad mouthing of his father.

F*ck him and the horse he rode in on.

Ha

 

[Alex]

"It isn't that I don't want to invest, it's just that I invest without these plans [mutual funds through a 401k plan] and I generate 20% every 2 weeks or so."

It's a wonder why this guy doesn't own the ENTIRE WORLD by now!!!

he doesn't??

 

[Cut-Throat]

I saw this thief on Public TV, of all places a few years ago. Took me about 5 minutes to recognize him as the con-man he is.

 

[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.

 

[Sparky]

Kiyosaki is getting coverage on an unusual website....he is under scrutiny on the Rick Ross Cult News website at

http://www.rickross.com/

It seems that Rick Ross detects some odd "cult-like" mentality from the Big "K". I didn't know what to think about him until I read some of the crap that he believes and how he contradicts himself all the time.

example "I don't own any stocks!"

and "Of course stocks are part of my portfolio".

What a lying jerk.

 

[maddythebeagle]

I guess they all get "rich*" by selling each other pyramid schemes.

I think that would be cannibalism….better to find some fresh meat.

 

[terminator]

example "I don't own any stocks!"

and        "Of course stocks are part of my portfolio".

Whether the market has gone up or down in the previous thirty days determines whether he owned stocks during that period.

If turnip futures are up next month, he'll be talking about how he moved everything he had into turnip futures right before it happened.

 

[Alex]

Whether the market has gone up or down in the previous thirty days determines whether he owned stocks during that period.

If turnip futures are up next month, he'll be talking about how he moved everything he had into turnip futures right before it happened.

I know that he invested heavily in 'gas' - the kind that the human body produces. It's a real 'bull' market.....

 

[veritasophia]

I remember seeing an episode of "Family Guy" that contained an infomercial with who I thought was Kiyosaki. Two sexy babes were standing on either side of him, a red sports car and McMansion in the background. He was yelling at the viewer:

• "How come you stupid, I'm not"
• "How come I'm rich, you not"
• "How come I sleep with your wife, you stay home alone"
• "Buy my book stupid"

Pretty accurate portrayal of the guy.

 

[justin]

• "How come you stupid, I'm not"
• "How come I'm rich, you not"
• "How come I sleep with your wife, you stay home alone"
• "Buy my book stupid"

Pretty accurate portrayal of the guy.

Except you'd have to learn that from reading one or more 200 page books (at $15.95 each).

 

[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.

 

[Jay_Gatsby]

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]

... 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.