Kiyosaki Controversy

[Tyler]

This thread is for the discussion of my August 28th blog post: Kiyosaki Controversy. You can view it here (http://www.tylercruz.com/2006/08/controversy-and-mortgages.html).

[L146705]

alledgedly he made the story up, about the poor and rich dad, read wikipedia. I wouldn't bother looking into it too much

[j0sh]

I do not understand why someone who had a fortune between 50million and 100 million dollars would want to write a book...Anyways 50 million dollars in property is not THAT MUCH compared to some of the bigger guys in real estate. Most of the money invested in his properties are probably OPM (other peoples money). Some of the other office buildings that are even in the Suburbs was sold for over 300 million dollars in my area. He probably made more money off of his book...

[blackthought286]

I read two of his books. Rich Dad, Poor Dad and Cash Flow Quadrant which I got alot out of. To me it doesnt matter if the background story is true as long as the business principles are sound. I read those books a couple of years ago and so far alot of what he says holds true. But I also learned that he nor his mentor created alot of those business truths that he preaches in the book. But that doesn't matter. What matters is that his book is what exposed me to those truths. Now i have gone on and read more serious business books. Ones that give it to you straight no chaser. No fluff. But his books really helped get me started along that path.

[Tyler]

I do not understand why someone who had a fortune between 50million and 100 million dollars would want to write a book...Anyways 50 million dollars in property is not THAT MUCH compared to some of the bigger guys in real estate. Most of the money invested in his properties are probably OPM (other peoples money). Some of the other office buildings that are even in the Suburbs was sold for over 300 million dollars in my area. He probably made more money off of his book...

There's no doubt that he's probably made a lot more from his Rich Dad business and books than from real estate and investing, but that's not his fault.

He was a multi-millionaire when he wrote the book, but the book wasn't about him being the richest person in the world. It was about motivation and to get people to think about their finances.

So yeah, he's even more rich now, but that's good, isn't it? And 50-million dollars is still a lot for one person, in my eyes :)

[aloksingh]

The book is defintely very informative and I think that if we get hold of the basic principles mentioned in it, we too can progress a lot. Real Estate is surely the best place to invest if you have a lot of initial money.

[charley]

I do not understand why someone who had a fortune between 50million and 100 million dollars would want to write a book.

I would any given day. It will get me more money again. People like him always author books. It's just a way to make additional wealth.