Comments on: Cautions on “Rich Dad” Robert Kiyosaki

By: Ted

Ted — Fri, 16 Oct 2009 12:44:26 +0000

I wonder what Robert is buying now. You are obviously very successful – I am just begining my jouney, if you are interested I blog every few days here: http://iinvest2earn.blogspot.com/ would love any low cost passive income investments for ‘today’

By: Wesley

Wesley — Tue, 12 May 2009 08:27:57 +0000

Sorry, a word disappeared from one of my paragraphs. I meant to say:

“earn money for the sake of earning money (not to spend them)

Best regards

By: Wesley

Wesley — Tue, 12 May 2009 08:20:52 +0000

“I myself have demonstrated, saving $360K in 9 years” …congratulations. If you are happy with your job, congratulations. While RK and his gang has a negative overtone on E and S quadrant, one must not forget that the theme is about making money fast (which is fairly limiting in E/S). But it doesn’t stop there. Why would one want to make money fast? The idea is derived from the desire to become financially free, not having to answer to anybody, to be able to spend time with family etc etc. In other words, happiness.

It might not be that much about the facts in the RDPD book (which you obviously already knew before you read the book), but more about infusion of an idea to a possible path towards freedom which many people are seeking. To me, not to overspend is equally important as not to be overly frugal. My way, along with other people’s way I believe, to define happiness is certainly not to (overly) restrict myself from enjoying life. I cannot start to imagine how much you need to restrain yourself from enjoyment by saving those 360k.

But if you are happy with throwing in those hours for work, don’t need to spend much time with friends and family, earn money for the sake of earning money (not to them), by all means do stay in E or S quadrant. In fact, this is also what RK says in another of his books, and even mentioned some well known CEOs in the corporate world to exemplify the possibility to riches by climbing the corporate ladder.

Education is important, agreed. But the way you put it forth in the article makes it sound like RK is recommending otherwise, which is not true as someone else already commented. And education is not about just getting a degree, which may be the understanding of someone by reading your article. You are right that a degree (or solid learning in school as you put it) is a ticket, but only to the next step in life. And life is long, and has many next steps. To be successful, whatever that means, one need to continue to educate herself, be observant of everyday happenings and learn from it. Experience life and acquire life experience, rather than just stepping on the train heading to work in early hours and heading home in the late hours. This may sound obvious, but in societies where getting a degree is a defining moment in life, one may work her ass off in acquiring a degree seeing it as a goal of a 20 year-long marathon. And then – complete shut off.

A final comment about the OPM book in the Rich Dad’s series… while I agree there are plenty of hands on information there, this is by far the most boring book I’ve read in their series!!! It feels like reading a patent application or something.

Best regards

By: semiramis

semiramis — Thu, 29 Jan 2009 10:16:07 +0000

hi! perhaps i could share some insights regarding the topic of education. as far as i know, RK has made some major distinctions in his books regarding education as does napoleon hill in making some points that you do not need good grades in order to get rich. in one of his books, if i can remember it correctly, he said that the difference between the rich and those who are not rich even though they are smart is that they stop ‘educating’ themselves as soon as they get out of college. rich dad emphasized that while education is important, it’s not so much about the grades that will land you to the high-paying job but the learning that you get from studying. and i think that was the point he was making, not quit school or anything although he mentioned that schools could have focused more on teaching people on handling their money (like in “the richest man in babylon”) which will do more good for the people than just the stuff that the system currently teaches. i think you’ll agree with me, if you see that the point lies not with the grades but with the learning. rich people need to learn more because it takes more wit and financial sense to preserve our wealth, which requires constant education, not just studying for grades

By: Frugal

Frugal — Wed, 04 Jun 2008 07:41:43 +0000

Juan,

What Kiyosaki wrote in the book is probably for you, but not for me since I knew those already without reading his books. For the basic financial intelligences, I bet you can get those from him. There is a thing in probability theory called expectation value, which applies to financial world too. The largest value in those four quadrants is certainly not the same as the expectation value. Brush up your math & financial knowledge.

Regards,

By: juale

juale — Wed, 04 Jun 2008 04:04:51 +0000

Do you know what the most precious asset one has is? For what you [author of this article] have written, you obviously don’t know anything about it. So you saved in 9 years 360k, and this without counting of what you put in, which I bet it was quite a bit. In nine years, let’s assume you made a profit of 360k, well I congratulate you! Welcome to the middle class life! Keep saving pennies and hopefully your kids would only have to take care of you when you have little left in life. The most important asset one has is TIME. This is one of the greatest differences between rich and poor or middle class people. They think in terms of TIME, not just money. I bet you that in those 9 year that you supposedly made 360k, I would make millions just because instead of just saving, I would invest not only on real-state, stock market, or any other investment vehicle, but on my emotional and financial intelligence. I haven’t done it before because 9 years ago I was 12 years old.
Robert Kiyosaki is not an idol, but is giving people a very profound and different way of looking at the Capitalism’s Machinery, and that is priceless. It is not who he is, but what he does by pointing people in the right direction. And then, people like you, who are just complaining and looking at the wrong and negative side of the issue, are pointing people towards the side that keep people thinking inside the box.
Everybody!!! Be aware of people who will pull you to where they have gone just because they don’t really understand the real path to financial freedom. If you read “Cashflow Quadrant” by Robert K. you’ll understand why this kind of people are called cynics, and why you should push them away from you if you really want to be financially free. Life was meant to be abundant, yet, we all need to do our little part by getting a little financial literate so nobody can tell us a story. READ books and listen to professionals, not just somebody who is making some money out of you reading this blog. Be smart, and take control of your life. Greetings from Cuba, USA, Spain. Juan

By: Annonymous

Annonymous — Thu, 18 Oct 2007 13:55:18 +0000

I would like to know what’s Robert Kiyosaki’s estimated networth.. I mean, if u want to judge weather what he wrote on the book matches the reality, just look at how much money he’s making…

To me? making money does need an essense of luck. LoL

Peace…

By: Annonymous

Annonymous — Thu, 18 Oct 2007 13:53:51 +0000

I would like to know what’s Robert Kiyosaki’s estimated networth.. I mean, if u want to judge weather what he wrote on the book matches the reality, just look at how much money he’s making…

To me? making money does need an essense of luck. LoL

By: Frugal

Frugal — Sun, 01 Apr 2007 15:33:45 +0000

Kasa,

I admire your bravery in going back to school. I know I certainly don’t want to do it, simply because of the time stress that it will put on the family.

By: kasa

kasa — Fri, 30 Mar 2007 22:20:43 +0000

> … don’t think that you can study later. … Going back to schools after having a family is extraordinarily difficult and only put unnecessarily emotional and financial stress on yourself and your family.

You hit this on the head! I am 37 and attempting to rescue a dead-in-the-water career by going to a good MBA school (part-time) with 1 kid and 1 kid on the way, a full time job and a hour plus commute. Yes, if you do have a shot at planning, get your education as early as possible.

By: frugal

frugal — Tue, 27 Jun 2006 02:31:28 +0000

I am simply trying to give the readers other perspectives. You could follow the link to see read about other things. I am entitlted to my own opinion, and same as you. I fully respect your opinion. Different opinions are what makes the society great. I’m not mad or jealous. I’m too busy to be wasting time on those negative emotions.

Obviously no books or no one will tell you in black & white that education is no good. I’m simply making the comment that there are E & S choices that can be very good for you, but those choices rely on even more professional educations.

I hope the readers can be analytical and objective, and critical on everything that I write too. I appreciate that you have put those quotes from books to rebutt me. But I don’t appreciate your labelling me as mad or jealous. We are all adults here, and we can talk things in a very objective ways. If I’m wrong, I admit it. Obviously, I can’t be right 100% of the time, right?

By: ian

ian — Tue, 27 Jun 2006 01:05:18 +0000

i dont know if RK is an idol or a fish but he stresses education through out the book. for you to say:

“To all the young people who are still in school, I advise: To become wealthy, you need to start with first penny, and start with solid learning in school.”

thats no different then what RK stresses. he even closes the book on the last page by saying:

“Education and wisdom are important. Start early. Buy a book. Go to a seminar. Pratice. Start Small.”

it sounds like your mad or jealous. I dont know how you could say the same thing as him but not find any value in his books. your either very smart and somewhat ignorant or very stupid and extremly ignorant.

By: G.

G. — Fri, 26 May 2006 13:55:24 +0000

Thanks for sharing the post. I was mistaken before when I thought that this guy was could do no wrong

By: frugal

frugal — Fri, 12 May 2006 19:09:57 +0000

Yes, I couldn’t agree with you more, Dale.

By: Dale G.

Dale G. — Fri, 12 May 2006 16:50:53 +0000

Yes, he’s got part of the equation right on a house being a liability. I think the real insight is to take the perspective that you need to have assets that generate the income to cover your liabilities. Once you are thinking that way, you realize that the liability is your housing expenses. Those can either be in the form of rent, with or without utilities, or a house, with a mortgage, insurance and maintenance costs. The house is an asset that partially covers the need for shelter, which is a liability in a more general sense.

By: Free Money Finance

Free Money Finance — Fri, 12 May 2006 10:31:10 +0000

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By: frugal

frugal — Thu, 11 May 2006 17:51:49 +0000

Yes, house is both an asset and a liability. Both aspects must be well-understood. Some people focus either on liability only or focus on asset aspect only. That tends to lead one to make over-conservative or over-aggressive decisions.

By: FreeTheCow

FreeTheCow — Thu, 11 May 2006 13:36:55 +0000

Very well written. Although I must admit that I used to be RK’s fan… Matter of fact, his first book taught me how to think outside of the box and do a bit of extra other than my day job… I have to agree with you about his negativity toward E and S. And early solid education is absolutely essential. After all, knowledge is what enables us to be successful. And without a good learning habit, you can’t aqquire the knowledge you need to run a business… Too many people dream about being rich but forgetting that not all of us have what it takes to start a business from scratch…
But I do agree with RK on one thing – buy a smaller house and use the money to invest…