Tuesday, November 28, 2006

The Thing About Rich Dad Poor Dad

Worldwide Success, has a little something to say about Robert Kiyosaki. Here are some bullet points:

  • Robert Kiyosaki is a product of Amway (now Quixtar) and other multi-level marketing organizations, and this is how he became a best seller
  • Rich Dad Poor Dad is nothing but a collection of old clich├ęs about money
  • Kiyosaki now admits that certain events in his book have been fictionalized. In other words, some of the stories in the book were made up
  • Rich dad may not have existed. There are good reasons to believe that Rich dad is part of the fiction mentioned above
  • ABC 20/20 did a story in which they invited Kiyosaki to provide advice to three people who were given $1,000 to start a business and show a profit in 20 days. They all pretty much failed, but Kiyosaki said it was a success because they all learned from their failures. The conclusion of the story: “Does anyone really need 18 books to learn to fail?”
...
  • How does Kiyosaki make his money and how much does he really have? He will not reveal. He says he keeps his holdings private because of lawsuits. John says this insults our intelligence.
  • John Reed provides several comprehensive lists about Kiyosaki’s books:
    • List of incorrect conventional wisdom
    • List of inconsistencies
    • List of factual errors
    • List of unlikely stories
John Reed's work on Robert Kiyosaki can be read here.

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