Web Design Brisbane - Raycon Web Design Brisbane - Raycon

Articles

View full article list

Rich Dad, Poor Dad, No Dad?

Mark Edwards
31-05-2005

Like him or not, Robert Kiyosaki has sold a lot of books. Personally, I rank "Rich Dad, Poor Dad" with "Who Moved My Cheese?" It is one of those books that makes a fun, quick read but the essence of the book could have been easily covered in a page or two rather than a hundred plus pages.



It has been some time since I read "Rich Dad, Poor Dad", however, I remember being quite interested in the first part of the book and the lessons he learned as a child from his Rich Dad.



The second part of the book left me appalled. His road to success seemed to involve mercilessly taking advantage of desperate people down on their luck. His understanding of the stock market appeared at best limited and at worst appeared to advocate using insider trading as a means to success. I am not familiar with US tax law, however, some of his advice about using corporations to avoid paying tax may well be illegal in Australia.



The truly wealthy people I know, and these are people with a net worth of $20 million or more, don't stand out from the crowd. You cannot tell by their appearance because they are not into ostentatious displays of wealth and do not boast about their money or posessions. My experience is that those who do make such boasts about being rich seldom are.



Mr Kiyosaki makes a point of telling his readers about how wealthy he is, his expensive car, watch etc.



When I heard recently that his book sales really only took off when he was part of the Amway distributor network, I was interested in finding out just what kind of person Kiyosaki really was and just how much of what he said was true.



The first place I turn to in a situation like this is, of course, the Internet. I found a great resource at:

www.johntreed.com/Kiyosaki.html



John, a real estate investment author and Harvard MBA, has a website devoted to selling his books to experienced real estate investors and helping novices recognise and avoid B.S. artists posing as investment gurus. He has a handy 44 point check list to use in this regard at:

www.johntreed.com/BSchecklist.html



His research about Robert Kiyosaki seems to show that many of his claims are either false, or greatly exaggerated. Almost none of them were backed up by any public records. He also finds some evidence (including interview statements by Kiyosaki himself) to support the case that there was never any such person as the Rich Dad.



Judge for yourself, but it certainly makes interesting reading.

View full article list