Wednesday, September 28, 2005


HatTip to Ethan at OnoTech. I came across John Reed's analysis and review of Robert T. Kiyosaki’s book "Rich Dad, Poor Dad."

Not the most orderly analysis, but a great read.

A number of people have asked me about Robert T. Kiyosaki and his book Rich Dad, Poor Dad. When I said I didn’t think he was a real-estate guru, a number of people insisted he was. Several told me I would like him, that he preaches a message like mine. Eager to find such a guru, I bought his book, Rich Dad, Poor Dad in a bookstore.

I was unpleasantly surprised. I do not like his book at all. Over time, I have received numerous reports that Kiyosaki is primarily a creature of Amway and other multi-level marketing organizations. Reportedly, his books were not selling until he allied himself with that crowd. Then the volume of sales to those MLM guys made him a “best-selling author,” which caused normal non-MLM people to think the book must be good.
In 1992, Kiyosaki wrote a book called If You Want to Be Rich and Happy, Don’t Go To School? It is “dedicated to Ralph H. Kiyosaki, former Superintendant of Education, State of Hawaii, the best teacher I ever had.” This would be “Poor Dad.” But Rich Dad Poor Dad, which came out in 1997, says pretty clearly that “Rich Dad was the best teacher he ever had.

So maybe “Rich Dad” was the second best teacher he ever had. No. Actually, the 1992 book also identifies the second best teacher Kiyosaki ever had: F. Marshall Thurber.

OK. So maybe “Rich Dad” was third. No. Kiyosaki’s 1992 book has an unusually long acknowledgment section. It lists 111 people, none of whom appears to be “Rich Dad.” That is, none are singled out except for his “Poor Dad” parents, in-laws, business partner, and editors.

Mind you, according to the 1997 book Rich Dad Poor Dad, “Rich Dad” supposedly became central to Kiyosaki’s life starting in 1955 when he was nine. So where was “Rich Dad” in 1992 when Kiyosaki was so diligent at identifying the people who had been important in his life?
(full post)

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