The fact that he made it big in this industry just goes to show how even if you're a failure people will believe whatever you say as long as you're selling them hope.
Which actually a brilliant business model. That way you'd put their "failure" on them not following your "system" exactly. To the consumer it's unhealthy.
Which actually a brilliant business model. That way you'd put their "failure" on them not following your "system" exactly. To the consumer it's unhealthy.
To be fair, he made basic personal finance concepts engaging and easy to understand. Read his book changed my financial life. Read it when I was 19, I am now 40. I am debt free, own multiple rental properties and have been financially responsible all my life.
@FelonMusk2021 that's one of the things that these fake gurus often do. They do include some level of real financial knowledge or if not that then they atleast motivate people to find out what the deal is. And that part is indeed good. The problem comes when that builds credibility and then these people scam people :/ You made it successfully to where you are and that's great. But the problem I have is that people who are successful like you can break out of the circle of fake gurus, but others who unfortunately could not make it stay stuck there and keep getting squeezed for money.
Some people are generous with their knowledge because they genuinely want to help. The real issue is that once an easy way to make money becomes well known, it becomes saturated and the profit from doing it goes down.
Haha same here. Watching videos that aim to critically evaluate scams and scammers seem to make UA-cam think I like scams and scammers. I watch one video about how Joseph Rogan is constantly fooled by internet rage-bait turns into a torrent of recommendations to watch unironic clips of his show and clips from adjacent grifters like Jordy Peterson as well as random conservative culture war B.S. It's frustrating, but also very telling.
To be fair, he made basic personal finance concepts engaging and easy to understand. Read his book changed my financial life. Read it when I was 19, I am now 40. I am debt free, own multiple rental properties and have been financially responsible all my life.
Bro it even gets mentioned by every fucking hack marketing expert ever. It legitimately makes me lose any respect I've got for someone's advice when they bring it up.
@@frankmckenneth9254 can we toss Dave Ramsey and Suze Orman in as well to create a bit of a magic triangle of financial grifters? In the contemporary era, "capitalism" is a misnomer. It should be called "creditism" because the entire system is based entirely on debt. It's all about OPM - Other Peoples' Money! What a pathetic scam! UA-cam has only made it worse...
To be fair, he made basic personal finance concepts engaging and easy to understand. Read his book changed my financial life. Read it when I was 19, I am now 40. I am debt free, own multiple rental properties and have been financially responsible all my life.
You all are missing the whole point of the book and its very sad, he honestly just aimed to open our eyes on financial literacy. One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I know I’ll make profits.
You are right. The best approach I feel is to diversify investments by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
My CFA Sophie Lynn Carrabus, a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
The reason personal finance is complicated is because 1. What you can do depends heavily on your personal situation, so you can help yourself best, or have to pay up front for a financial advisor to do that for you (usually too expensive for a normal person) 2. If someone has something going for them, it makes no sense for them to recommend it to everyone and split the profits. Though if you hang around on personal investing channels/forums enough and spend some dedicated time thinking about it and take decisions and watch them play out, you can manage your own money and become better at finance over time. What no one will tell you is it may take a long time upto years. That's because telling people discipline takes years to build isn't a good way to sell anything. But nothing, especially financial success comes easy.
And also generic financial advice that applies to many people at once is very standard and boring. Not exactly the kind of thing that will make you a celebrity on UA-cam.
@@metriq8268 Genuinely good financial and investing advice also doesn't promise huge returns. Telling people they can double their money every year and can get rich really quickly is going to get a lot more clicks and recommendations than telling them that 15-20% return per year on average is actually pretty good going and that investing needs to be done for 5-10 years as a minimum.
Your number #2 is SOO wrong is insane😂 But then again I live a life most won't ever experience 😂 Then again I was willing to so what MOST wont!! Is Robert kyosaky businesses bullshit. Yes... However, he DID provide valuable information that I IMPLEMENTED and it changed my life!! It all comes down to you street knowledge and ambition and HOW you apply it.
I can't speak for things outside of the first book, but when I read the book, i didn't see it as him trying to tell me HOW to get rich in a specific way. The main idea i pulled from it is to increase your financial literacy & way of thinking. How you do it is left up to you. He's even described it as like playing sports. You play the sport you like. There are different types of sports & rules to each game. Same with ways to make money.
I almost got recruited into this MLM. But when I read his book he sounded like such an a**hole I thought I’d rather “stay poor” than talk about my father the way he talked about his. What an absolute sociopath.
To say Kiyosaki takes liberties with the truth is quite the understatement. One could make a half hour or longer YT video on the accuracy of his stories alone. I read his book because someone purchased it for me and found it highly overrated. Basically, it's the finance version of bro stories with 5 pages of financial advice. I don't understand the hype surrounding it.
I figured he was being an ass on purpose to make his point. What bothered me about his book when I first read it years ago, was that he didn't describe how to do anything. The whole book can be summed up in a few phrases: avoid debt, have more income than expenses, get assets not liabilities. Okay, but...tell me HOW? How did YOU do it, how should a new person start, what are the real risks involved--it just felt like an exercise book that said "Get off the couch, MOVE," but then doesn't tell how to do anything else.
Good watch. I bought the original book on audiobook and swiftly returned it after listening to about 10 percent and seeing that it had no value (or values). But then I was in my early 30s and financially literate. I can see how he appeals to people on a surface glance.
Yeah I never read the book but the general advice stated in the video makes sense. That was the only take away I needed from what I've heard people say about him.
@@Micfri300 you can also go broke as an entrepreneur(if economy goes wrong, then clients don't want to buy from you, so you stop getting earnings) , the big difference is that if you go broke as an entrepreneur you loose your own business, and if your employer go broke, then you keep your stuff and just look for another employer.
@@neddiego2570 When uncle sam and papa IRS comes knocking at your door, you best believe they won't leave unturned stones seaking for their cut, buddy boy
@dgeata what I have heard many times is that virtually nobody comes out ahead with MLM, except those at the tip top of the pyramid. The whole thing is a gigantic head game.
Hey his advice about what is asset and what is liability is pretty good, I read his book when I was 15 and it helped me not spend money on useless shits. Don't really care about what he does because I only care about the teaching and not the person, I'll never be a fan of any 'guru', I'll just take what's good and leave what's bad, remember the teaching and forget the person. Also I read his book for free in the library.
I remember this guy. The first time I saw him, he was featured on the Oprah Winfrey Show. Surprise, surprise! She endorsed him without a moment's hesitation.
I work in sales and as much as I try to be an honest salesperson people just love to hear bullshit. I had a guy tell me “you are not trying very hard to sell me on this just lie to me”. I lied to him and he bought it just to come in six months later saying I lied to and ripped him off. My boss simply to him “ no way he always sells on the ugly “. I went up and told him I told him the truth but insisted I lie so I lied. People only hear what they want to hear even though it’s total nonsense. 😂
I rented my one rental property (mortgage free) to a former coworker who started following the "Rich Dad" method of leveraging rental real estate around 2004. He was living the high life, and sadly everything came crashing down in 2009 when he wasn't able to lease some of his rentals. Bankruptcy and divorce quickly followed. Fortunately, the bankruptcy cleared the way for his developing an internet marketing strategy business that he built into a steady low 6 figure business by 2012. He definitely had hustle!
THATS KEY!!!! he had the same thing I had HUSTLE!!! I did the same thing!! 😂 im 36 though, read his book and I hit the streets!! My life now at my age is AMAZING!!!
Thankfully I majored in accounting in my college days, and prior to that I’d never come across rich dad poor dad, so when I actually read that book I already have some basic understanding of asset and liability. I understands that leverage comes with both high return and risk, and his suggestions, without context, can be wrong. Knowledge doesn’t make you rich, but at least it helps you think about things more thoroughly.
Well... im glad he was a fraud because he literally started my journey of success. He's a good example of DOING as the teacher says but DON'T live as the teacher lives.
Read his rubbish book when was in Class 8 and took everything he said by heart. Became some idiot personal finance book nerd and wasted my time in thinking how can I make ₹100 crores (₹ because I'm an Indian). Now I've come out of all the personal finance and self help bullshit.
If you can't make any money, the problem is you. Reading his books make me having so many business ideas right now. Btw we can't read a book and then get rich, we need action.
Funnily enough, I did have a friend's dad loan us the book Rich Dad Poor Dad, and since we were teenagers, he really did just use it as a way to teach us about the basic ideas of not spending money you don't have, accumulating assets vs liabilities, etc.
I once saw a video of him telling someone, with pride, excitement, and happiness, on his podcast, that he evicted one of his tenants, a day before christmas, and threw out the tenants possessions on the streets, rendering the tenant homeless a day before christmas.
I would too. In fact I didn't during the month of Thanksgiving. Wtf.. I run a business, if you rather spend your money in celebrating the holiday thats o.k just make sure my rent is on time, if not you'll be evicted simple as that! It's called being a responsible adult!! Banks don't care....
I’ve had this book recommended to me most of my life. I flipped through it once and I think I put it down for good when it started talking about visualisation and positive thinking. I had no idea about any of this. Feels like I got narrowly missed by a train, damn.
As the video mentions, the book has some good advise mixed with some terrible advise, so even if you would have read it, it doesn't follow that you would have believed all the bs parts. Some people even gets something good from it.
I remember buying his book, but not from an infomercial, from a discount bookstore, like Half Priced Books, and I read it. But I can't for the life of me remember what financial advice it gave me.
Read that book but didn't leave an impression on me, and read others of its kind from other authors, which were equally as useless but may have felt insightful at the time. These grifters sell a feeling of hope / progress / success, a bunch of full of feel good nonsense, while simultaneously making you more insecure and helpless.
You know what??? An experienced man comes out and speaks the truth, people love him for being open about it... They connect with him, follow his advice(cuz they don't know any better, they don't have his experience and his intelligence) he's no 1 until the stuff he talks about doesn't work for his followers... Then they crucify him... Call him a fraud, then try to defraud him calling him a scam artist, Just cuz it worked for him and didn't work for the rest.
There's also a guy lying about the value of gold. Every year he sells a book that simply gives the same argument updated to new lies about the current economic economy
Honestly I don't remember how I found this channel but I subscribed after watching first video. And now more good stuff is coming out. Please keep this channel going 🙏
I'm grateful for him having said it. It allowed me to stop seeking wealth if it required exploitation. I will say calling the men that build and sustain your nation losers is a bold strategy. Let's see how it works out Cotton.
But that is the only way to be "rich", whether people give you their work 'voluntarily' or through theft, it is impossible to accumulate any serious amount of wealth exclusively with self effort. Do you think Elon Musk or Jeff Bezos got rich by building and selling cars/rockets/merchandise from scratch solo mode? So, yes, you're right, don't make it your life goal to be rich or accumulate wealth as that guarantees entails exploiting of others @@thealkymyst
Well, sh*t. This explains why the time where "Rich dad, poor dad" was becoming a hit in my country, it also the time where Herbalife was also introduced.
I read it when I was 7. It took me ages, because I got bored very quickly, but I got through it. My father is very interested in this stuff, though thankfully he never paid to attend a conference or anything. We had Cashflow, Cashflow for Kids and a couple other similar games I don't remember. When I was that little, I was a very avid reader and wanted to read anything and everything I could get my hands on. I do actually remember it being somewhat digestible to my 7yo brain, and that's not a compliment towards me or the book. It was eye-opening to grow up, half forget about it and then see a video like this. I specifically remember one scene in it where the rich dad is offering them higher and higher wages but the point is that they should refuse no matter what, so they own their own businesses and don't get trapped in the rat race. Now and even at the time, I think that's a kind of silly idea. People need money to start businesses and one job isn't necessarily one's whole life. If you find a high paying temporary job, and it works, go for it. The assets vs liabilities stuff was very easy to understand and yeah, from what I remember, 4:55 sums it up very well. My point is, it's mostly just stuff a 7yo can understand. Keep green high and red low to make money. It's a very, very individualistic perspective that seeks to sell a single solution to struggling people (damn, that alliteration). It misses the obvious point that not everyone can afford to start a business and there always need to be employees. Edit: Wow, the MLM stuff is very depressing. Of course. Thankfully my father has never gotten involved with them, he always had a relatively high-paying, stable job, but it was tough. He wanted to get into investing but he did have the foresight as to the risks.
From the first time I saw these "authors" i realized that they were making money by selling books about ideas and not actually succeeding in a constructive way.
I read through some of his books on a deployment. Best way to build wealth is playing the long game. Create a part time business like landscaping, tutoring, coaching, personal training or whatever your hobby is. It could be selling on ebay, sewing, barber, painter, mechanic work on the side and invest.. look for 5%-8% fixed annuities and make sure they tax deffered. Also get some long term bonds, and pay off your mortgage.. 15-20k at 5% ovwr 20yrs, with annual contributions of at least 5k-10k is a nice chunk of change
I remember my uncle recommending this book. I read it and thought how can you be proud of taking peoples money and losing it. Changed my life just not in the way the book suggested
He did have good points. It might be self explanatory to you, but for others it is something to learn. I enjoyed his content for the most part, until he started posting "the stock market will collapse in 90 days" videos all the time. That got old way too quick.
I got on the Kiyosaki train back in 2007 and I am very grateful for inspiring me to invest as opposed to just work. I don't agree with his politics but that is his perogative.
The first book has one good remark in it: You should spend money on things that actually make you rich, not on things that make you FEEL rich, like a fancy car. Other than that though...
There is nothing wrong with writing a book and selling it, there are good books about that subject, the problem here is the content of that book in specific.
And a youtube video is what? not teaching you how to do something or think a certain way? You do realise this video is generating income for the creator because millions and millions of haters are clicking on this right now.
@@Micro-Econ-YT Hello creator, I liked this video. I'll go watch your other ones. Thanks for the good work you are doing as our world gets increasingly filled with grifters. Most democratic countries around the world, including mine, are now run by grifters. Love from India.
While I disagree with his disdain for higher education, I found some value in his book Cashflow Quadrant and Rich Dad Poor Dad. He certainly is an eye-opener for the uninitiated. His perspectives are not taught in the traditional academe because we mostly learn technical stuff there. All of us are students in life and we should learn as much as possible from wherever. A wise man learns more from his foes than a fool from his friends.
perfectly said. Up to now there's TONS of ppl who adore this man and have his book on their desk. i just last week talked to a guy who hated on me for calling out Robert and the funny thing is that no one who follows him actually gets anywhere. Look closely and you'll see that. Actual financial stuff is indeed boring and also can be tough to incorporate into a business (i know all about this) and it's not what any1 really wants to sit down and do. Hell even i dont like doing it. Your video really spoke truth about this matter and Robert up to now is praised all based on half truths. He is 'right' in terms of ppl not being taught financial literacy. I learned the basics AT AGE 40!! lol - But he takes that point to get you into his trap. Well done on your video sir - thank you for speaking out. I just had to comment I've talked to so many who applaud this man yet as for actual wisdom and actual results or anything to do with real money improvement in their life... there is none.
I am a finance student in my country best University . I didn't become a millionaire or a finance genius or a trader. But at least right now i can recognize these lier's who claim to be a financial couches for your success whom in fact are some dumb package sellers that know nothing about the market, btw this was a very good video , hope you success
Reminds me of art career youtubers. Funny thing is that some of his basic advice has saved my life and I learned it when a classmate tried to recruit me into Amway. Of course I immediately realised it's something like a pyramid scheme.
Robert is 100% right, if you don't have a business oriented mind you will not understand! He is in good dept and is making money out of it, if you are scared of that and think is not good , stay doing a 9-5 ... the only way to make real money is the way Robert is explaining!
Education on scams is part of financial education. A university lecturer once told me that no one will ever share their secret sauce. But the recipe they share will have some of the ingredients. Pick out the good stuff and discard the rest.
The problem of most people is, they dont even understand the most basic concepts of finance and do not know how to manage their money. This book does help people look at money with a different mindset
man, Kiyosaki is a real teacher. Anyone who bashes him, has clearly never read the books, or has never applied those principles. The teachings are life changing but quite basic ; 1.the rich don't work for money, they work for assets, 2.buy assets, not liabilities. He repeats these lessons with different levels of complexity through the books. My life transformed and I have never paid a dime to attend his classes. Please, don't make statements to go viral on youtube!
I knew a guy 20 years ago that love this guy. Followed his advice. I said it was BS the moment of heard about it. That guy now flips low quality trashy housing in Uk. I stayed in my same career, saved and invested and grew my career. I have the life he wanted and can retire whenever I like. I’m 40.
Well, I followed the ideas he had, and I can retire with over 10+ properties around the world, but I choose to stay working because my kids are still small and it set a bad example if the parents are a bum and just spend money everyday.
@ there is a wide range between being a bum and early retirement. Anyone that has as much success as is required to retire at 40 in California, can never be a bum.
This may all be true, but I have to say - reading Rich Dad, Poor Dad was instrumental in causing me to have a profound change in how I viewed money, and solidified the importance of investing and the power of compound interest.
Great video, I subscribed yesterday! 😃 It takes a while to see through the various scams by those self-appointed financial gurus. 😠 But it's amazing how much becomes clear after someone points it out! 😄 I'm looking forward to more videos from you! ❤️
It’s so easy to be a grifter in America that people come here to be gurus or prosperity gospel preachers. We really are a place where dreams come true /s 2:51 because of fucking course. Wouldn’t be surprised if he ends up getting a role in the administration.
You basically came to the same conclusion that MJ DeMarco came to in his 2011 book Millionaire Fastlane. Kiyosaki actually made money off of books, not following what he preaches.
His "poor dad" was a successful educator, a very successful one at that. He had a good paying job, had a house, they lived in Hawaii which is considered rich for most of us. If you want to see poor, go to South Sudan, Burundi, Congo. People there don't just have enough to eat, they don't even have clean water to drink. Everyday they have to walk for miles just go get enough water for the day and tomorrow rinse and repeat. That's poor. If I was Robert enjoying my high life in Hilo, Hawaii with a father who's head of the Hawaii Teachers Union, I wouldn't in a million years call myself poor.
Even back in 2018 when I read Rich Dad Poor Dad and Kiyosaki was all the rage and nobody questioned him I felt deep in my heart the man is a fraud. The moral of the story: trust your gut feeling.
Yes, unfortunately that’s the paradigm of today. People want easy solutions to difficult problems. And are ready to support anyone who gives them to them.
Yeah, you are right. He should have focused the book about how the rich get rich on market analysis and reading MBS'es like Michael Burry did, because personal responsibility is out of the question. He could have added the disclaimer. Only invest what you can afford to lose in a field you have researched extensively for years, because it didn't go without saying.
I checked out RDPD out of the library and only made it to chapter 3. It was complete rubbish. He's one of those people who is never rich enough. He could have lived very comfortably off the revenue from Rich Dad, Poor Dad by putting that money into basic investments and lived off that money forever but there is a deep down insecurity that no matter what, it's never enough.
The amount of hate Kiyosaki gets is unreal. His advice is good. Following it is hard. Why the contempt? Understanding Cash flow is the key to getting wealthy.
A couple of years ago I was recommended this book by a guy passing by while I was using WiFi outside a café. I did not investigate further, as I assumed it was a useless book that just happened to coincide with that guy's financial success, if he had any. I'm going to keep assuming that.
I tried reading his book when I was a kid because my dad had it lying around. As soon as I read that he uses company money like his own personal fund, I stopped. Even as a 12 year old, that didn't sound right.
Here in the Balkans cosmetics MLM worked for a while when there were no other players and the market was not saturated. At most it was a side hustle that would make 10% more than their day job at most or cheaper stuff at least. It did make anyone rich because no MLM can.
He’s not wrong, but he’s entirely Machiavellian and none of his advice will work if more than a handful of people apply it: abuse debt, don’t pay taxes, sell effectively nothing and let idiots pay you for it. Every wealthy person I know does more or less the same thing to the same extent. You need to leverage debt to make money. Yes. You will never start a business without some debt. You will never rapidly grow income without some debt. And the plan is to effectively grow you ROI and income until the debt doesn’t matter because you can pay it back easily. Where he becomes a piece of shit is telling you “you don’t have to pay taxes, you don’t have to pay back debt” and now an entire generation of people are selling the image of wealth to grift hopefuls into blowing massive amounts of money they don’t have.
And if im so rich, i wouldnt bother to sell more books and courses, but rather, i will focus on my core investment businesses and do real charity works. Just like Gates and Buffet.
The only guy i trust in terms of investing and all is Warren Buffett. This guy seemed to be a fraud from beggning from me, too bad people took too much time to realize that and made him profit on top of that making him more famous
"You're literally mining your own gold" No. Even if he had bought a mine. He wouldn't be mining it himself. He'd be paying other people to mine it. Then paying people to watch the miners...
They tried to get me into a MLM and I just can’t “invest” in a business model that I think is worthless and when they gave me books to read (they did have some good books ngl) and he gave me rich dad poor dad and I started looking into Robert’s past and is ties with MLM he lost all credibility and I never read one page out his book. Even got it as a gift and I will eventually but ppl don’t do research on a lot of mainstream media and many of these ppl are not credible.
if you follow anyone without thinking, and literally, there will ALWAYS be a problem... BUT, if you even THINK about the implementation :D , then maybe you think strategically about building a company, and you build it in such a way that everything can be duplicated and delegated.. .And frankly, 90% of LLC owners do most of the work themselves, and the business literally rests on their shoulders... their time and health is the biggest limit... if they can't work more hours, the business can't grow anymore... if their health fails, the company closes... BUT if you build even a relatively small company strategically and delegate correctly, you can very quickly get to the point where you don't work in the company and deal with daily operations, but you can work ON THE COMPANY... you develop it, train new employees, acquiring new customers, partners, optimizing contracts with suppliers and the bank... a very important lesson that a lot of entrepreneurs will never understand, or after a very long time...
I’ve never heard of him til about a year ago when the “crap” he was saying appeared in my feed. Why? He was saying that all you had to have was a $20.00 silver coin. BTW. you need a huge amount of those coins! I never listened to him after that.
The fact that he made it big in this industry just goes to show how even if you're a failure people will believe whatever you say as long as you're selling them hope.
Which actually a brilliant business model. That way you'd put their "failure" on them not following your "system" exactly. To the consumer it's unhealthy.
Which actually a brilliant business model. That way you'd put their "failure" on them not following your "system" exactly. To the consumer it's unhealthy.
it absolutely works. Gold, silver, crypto. Any time you ask Kyosaki that is the answer. 50 mil ppl fall for it and it works. So he cashes out
To be fair, he made basic personal finance concepts engaging and easy to understand. Read his book changed my financial life. Read it when I was 19, I am now 40. I am debt free, own multiple rental properties and have been financially responsible all my life.
@FelonMusk2021 that's one of the things that these fake gurus often do. They do include some level of real financial knowledge or if not that then they atleast motivate people to find out what the deal is. And that part is indeed good. The problem comes when that builds credibility and then these people scam people :/
You made it successfully to where you are and that's great. But the problem I have is that people who are successful like you can break out of the circle of fake gurus, but others who unfortunately could not make it stay stuck there and keep getting squeezed for money.
Remember, if someone has an easy way of actually making money they would never tell you about it. Why would they create their own competition?
Yep if you think about it like this you are unlikely to go wrong
Some people are generous with their knowledge because they genuinely want to help. The real issue is that once an easy way to make money becomes well known, it becomes saturated and the profit from doing it goes down.
@@pendlera2959exactly. Once it’s popular, it stops being easy
More than that, you don't have TIME to make pennies selling courses.
That's what I think when I get those "tech catch phrase of the moment -> $1,000s in passive income crypto per day" ads.
Love how one quick scroll down, UA-cam recommends me 4 Rich Dad, Poor Dad videos. These UA-cam really welcomes scammers with open arms.
As long as scammers can sell courses scammers are good. As long as UA-cam gets videos so they can sell views they're good 😅
Haha same here. Watching videos that aim to critically evaluate scams and scammers seem to make UA-cam think I like scams and scammers. I watch one video about how Joseph Rogan is constantly fooled by internet rage-bait turns into a torrent of recommendations to watch unironic clips of his show and clips from adjacent grifters like Jordy Peterson as well as random conservative culture war B.S. It's frustrating, but also very telling.
taking away the dislike button helps scammers too
To be fair, he made basic personal finance concepts engaging and easy to understand. Read his book changed my financial life. Read it when I was 19, I am now 40. I am debt free, own multiple rental properties and have been financially responsible all my life.
Start by cleaning your room. Itll help with the crying, @EricWBurton
That's quite ironic that other grifters are referencing that particular book like it is the Bible.
Bro it even gets mentioned by every fucking hack marketing expert ever. It legitimately makes me lose any respect I've got for someone's advice when they bring it up.
Bible is fucking scam that's why they do it because they have prime example to follow
@@frankmckenneth9254 can we toss Dave Ramsey and Suze Orman in as well to create a bit of a magic triangle of financial grifters?
In the contemporary era, "capitalism" is a misnomer. It should be called "creditism" because the entire system is based entirely on debt. It's all about OPM - Other Peoples' Money! What a pathetic scam! UA-cam has only made it worse...
To be fair, he made basic personal finance concepts engaging and easy to understand. Read his book changed my financial life. Read it when I was 19, I am now 40. I am debt free, own multiple rental properties and have been financially responsible all my life.
What's Ironic about it?
You all are missing the whole point of the book and its very sad, he honestly just aimed to open our eyes on financial literacy. One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I know I’ll make profits.
You are right. The best approach I feel is to diversify investments by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
@@PatrickLloyd- Could you kindly elaborate on the advisor's background and qualifications?
My CFA Sophie Lynn Carrabus, a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
The reason personal finance is complicated is because
1. What you can do depends heavily on your personal situation, so you can help yourself best, or have to pay up front for a financial advisor to do that for you (usually too expensive for a normal person)
2. If someone has something going for them, it makes no sense for them to recommend it to everyone and split the profits.
Though if you hang around on personal investing channels/forums enough and spend some dedicated time thinking about it and take decisions and watch them play out, you can manage your own money and become better at finance over time. What no one will tell you is it may take a long time upto years. That's because telling people discipline takes years to build isn't a good way to sell anything. But nothing, especially financial success comes easy.
And also generic financial advice that applies to many people at once is very standard and boring. Not exactly the kind of thing that will make you a celebrity on UA-cam.
@@metriq8268 Genuinely good financial and investing advice also doesn't promise huge returns. Telling people they can double their money every year and can get rich really quickly is going to get a lot more clicks and recommendations than telling them that 15-20% return per year on average is actually pretty good going and that investing needs to be done for 5-10 years as a minimum.
Your number #2 is SOO wrong is insane😂
But then again I live a life most won't ever experience 😂
Then again I was willing to so what MOST wont!!
Is Robert kyosaky businesses bullshit.
Yes...
However, he DID provide valuable information that I IMPLEMENTED and it changed my life!!
It all comes down to you street knowledge and ambition and HOW you apply it.
I can't speak for things outside of the first book, but when I read the book, i didn't see it as him trying to tell me HOW to get rich in a specific way. The main idea i pulled from it is to increase your financial literacy & way of thinking. How you do it is left up to you.
He's even described it as like playing sports. You play the sport you like. There are different types of sports & rules to each game. Same with ways to make money.
Just keep debt low whenever necessary. Using debt for investing can become a double edge sword.
I almost got recruited into this MLM. But when I read his book he sounded like such an a**hole I thought I’d rather “stay poor” than talk about my father the way he talked about his.
What an absolute sociopath.
His dad stories are made up 😂
To say Kiyosaki takes liberties with the truth is quite the understatement. One could make a half hour or longer YT video on the accuracy of his stories alone. I read his book because someone purchased it for me and found it highly overrated. Basically, it's the finance version of bro stories with 5 pages of financial advice. I don't understand the hype surrounding it.
I figured he was being an ass on purpose to make his point. What bothered me about his book when I first read it years ago, was that he didn't describe how to do anything. The whole book can be summed up in a few phrases: avoid debt, have more income than expenses, get assets not liabilities.
Okay, but...tell me HOW? How did YOU do it, how should a new person start, what are the real risks involved--it just felt like an exercise book that said "Get off the couch, MOVE," but then doesn't tell how to do anything else.
@@jamjox9922 at the end you will have to figure it out yourself. None of these books are gonna teach you in great detail just the basics.
It gets worse when you look at his youtube/seminars/other books, the more you look, the less substance you find in his content.
He's the epitome of taking one small (factually) true statement and really taking it too far.
Good watch. I bought the original book on audiobook and swiftly returned it after listening to about 10 percent and seeing that it had no value (or values). But then I was in my early 30s and financially literate. I can see how he appeals to people on a surface glance.
Yeah I was about a third I and closed it and never opened it again.
I bought it from the discount table. Spent 6 bucks on it and read 15 minutes in and tossed it. Fools and their money will soon part😂
entertainment value.
Yeah I never read the book but the general advice stated in the video makes sense. That was the only take away I needed from what I've heard people say about him.
Uhhhh that's what it was supposed to be.😂
BASIC SHIT!!!
I wish I could tell Robert how good it feels to be a sucker with a stable job
THIS PART. Also, for all of those MLM products you need suckers with stabe jobs to buy that stuff.
I'd rather be an entrepreneur than be an employee in an economy where debt to gdp is over 100% and that stable job won't be stable for much longer 😉
@@Micfri300 you can also go broke as an entrepreneur(if economy goes wrong, then clients don't want to buy from you, so you stop getting earnings) , the big difference is that if you go broke as an entrepreneur you loose your own business, and if your employer go broke, then you keep your stuff and just look for another employer.
@@luisoncppentrepreneurs don't keep all their wealth on one business 😂.
@@neddiego2570 When uncle sam and papa IRS comes knocking at your door, you best believe they won't leave unturned stones seaking for their cut, buddy boy
As someone who did Amway for a year, Kiyosaki's books and philosophy permeate every level of the business. It was cult-like.
MLM is considered a category of cult by those who study the subject. So, it's not "cult-like." It's the real thing, all the way.
how did you do with Amway? did you make any money?
you did it for a year so I'm guessing you actually lost money..and a lot of time
All in all, I came out about $50 in profit after accounting for all the costs. But yeah, all the time was lost.
@dgeata what I have heard many times is that virtually nobody comes out ahead with MLM, except those at the tip top of the pyramid. The whole thing is a gigantic head game.
@@dgeata I appreciate your honesty and I am happy you are out. My aunt is 20 years in and still losing money.
Hey his advice about what is asset and what is liability is pretty good, I read his book when I was 15 and it helped me not spend money on useless shits. Don't really care about what he does because I only care about the teaching and not the person, I'll never be a fan of any 'guru', I'll just take what's good and leave what's bad, remember the teaching and forget the person. Also I read his book for free in the library.
I remember this guy. The first time I saw him, he was featured on the Oprah Winfrey Show. Surprise, surprise! She endorsed him without a moment's hesitation.
She and Forbes magazine seem to have a knack for promoting grifters.
She and Forbes magazine seem to have a knack for promoting grifters.
@@TheQueenRulesAll because she’s a grifter herself
Quacks like Dr Oz and Dr Phil have also come courtesy of Oprah.
She's a fraud herself. All rich people are fraud.
I work in sales and as much as I try to be an honest salesperson people just love to hear bullshit. I had a guy tell me “you are not trying very hard to sell me on this just lie to me”. I lied to him and he bought it just to come in six months later saying I lied to and ripped him off. My boss simply to him “ no way he always sells on the ugly “. I went up and told him I told him the truth but insisted I lie so I lied. People only hear what they want to hear even though it’s total nonsense. 😂
I rented my one rental property (mortgage free) to a former coworker who started following the "Rich Dad" method of leveraging rental real estate around 2004. He was living the high life, and sadly everything came crashing down in 2009 when he wasn't able to lease some of his rentals. Bankruptcy and divorce quickly followed. Fortunately, the bankruptcy cleared the way for his developing an internet marketing strategy business that he built into a steady low 6 figure business by 2012. He definitely had hustle!
THATS KEY!!!!
he had the same thing I had HUSTLE!!! I did the same thing!! 😂 im 36 though, read his book and I hit the streets!!
My life now at my age is AMAZING!!!
Thankfully I majored in accounting in my college days, and prior to that I’d never come across rich dad poor dad, so when I actually read that book I already have some basic understanding of asset and liability. I understands that leverage comes with both high return and risk, and his suggestions, without context, can be wrong. Knowledge doesn’t make you rich, but at least it helps you think about things more thoroughly.
I instinctively knew this guy was a fraud the first time I saw him talk. I feel sorry for those that he took advantage of
A lot of people forget the if it sounds too good to be true it is.
There is no quick or easy way to get rich. If there was, everyone would already be rich.
Well... im glad he was a fraud because he literally started my journey of success.
He's a good example of DOING as the teacher says but DON'T live as the teacher lives.
Read his rubbish book when was in Class 8 and took everything he said by heart. Became some idiot personal finance book nerd and wasted my time in thinking how can I make ₹100 crores (₹ because I'm an Indian). Now I've come out of all the personal finance and self help bullshit.
Welcome back, mate.
Same thing happened to me. Self help books are nonsense
You never actually made any money?
I am also Indian and similar thing happened to me. I wouldn't say his book is complete bullshit but it's really not applicable in most situations
If you can't make any money, the problem is you. Reading his books make me having so many business ideas right now. Btw we can't read a book and then get rich, we need action.
Funnily enough, I did have a friend's dad loan us the book Rich Dad Poor Dad, and since we were teenagers, he really did just use it as a way to teach us about the basic ideas of not spending money you don't have, accumulating assets vs liabilities, etc.
I once saw a video of him telling someone, with pride, excitement, and happiness, on his podcast, that he evicted one of his tenants, a day before christmas, and threw out the tenants possessions on the streets, rendering the tenant homeless a day before christmas.
A link to that video?
I would too. In fact I didn't during the month of Thanksgiving.
Wtf.. I run a business, if you rather spend your money in celebrating the holiday thats o.k just make sure my rent is on time, if not you'll be evicted simple as that!
It's called being a responsible adult!!
Banks don't care....
Yeah so? If my tenant was in arrears, it would make a dent in my account. You dont know my financial situation
Damn the last time I was this early Enron stocks were flying
Thats what she said
I’ve had this book recommended to me most of my life. I flipped through it once and I think I put it down for good when it started talking about visualisation and positive thinking. I had no idea about any of this. Feels like I got narrowly missed by a train, damn.
As the video mentions, the book has some good advise mixed with some terrible advise, so even if you would have read it, it doesn't follow that you would have believed all the bs parts. Some people even gets something good from it.
I remember buying his book, but not from an infomercial, from a discount bookstore, like Half Priced Books, and I read it. But I can't for the life of me remember what financial advice it gave me.
Read that book but didn't leave an impression on me, and read others of its kind from other authors, which were equally as useless but may have felt insightful at the time. These grifters sell a feeling of hope / progress / success, a bunch of full of feel good nonsense, while simultaneously making you more insecure and helpless.
You know what??? An experienced man comes out and speaks the truth, people love him for being open about it... They connect with him, follow his advice(cuz they don't know any better, they don't have his experience and his intelligence) he's no 1 until the stuff he talks about doesn't work for his followers... Then they crucify him... Call him a fraud, then try to defraud him calling him a scam artist, Just cuz it worked for him and didn't work for the rest.
There's also a guy lying about the value of gold. Every year he sells a book that simply gives the same argument updated to new lies about the current economic economy
What peter schiff?
Let me guess you believe in the power of bitcoin over gold..
@@Micfri300BTC beats gold. Let me know when gold hits 91k and ounce. Honestly go and make 1 BTC and show us all how easy it is.
Robert is the creation of the Amway Corporation. He only became a best seller because he was placed onto the Amway Book list.
My dad gave me this book after getting it via Amways “book of the month”
Honestly I don't remember how I found this channel but I subscribed after watching first video. And now more good stuff is coming out. Please keep this channel going 🙏
Incredible, he basically said that it's impossible to become rich without exploiting people as if that's not an absolutely reprehensible idea
That much is basically correct but he's just not being honest on realistic ways to get to that position of living off of other peoples labor
Yeah he tell people to get debt and buy property, that idea make property unreacable for gen z now, the price skyrocketed
I'm grateful for him having said it. It allowed me to stop seeking wealth if it required exploitation.
I will say calling the men that build and sustain your nation losers is a bold strategy. Let's see how it works out Cotton.
But that is the only way to be "rich", whether people give you their work 'voluntarily' or through theft, it is impossible to accumulate any serious amount of wealth exclusively with self effort. Do you think Elon Musk or Jeff Bezos got rich by building and selling cars/rockets/merchandise from scratch solo mode? So, yes, you're right, don't make it your life goal to be rich or accumulate wealth as that guarantees entails exploiting of others @@thealkymyst
Not really what he said
Well, sh*t. This explains why the time where "Rich dad, poor dad" was becoming a hit in my country, it also the time where Herbalife was also introduced.
Can't believe it bro. You actually blew up. Congrats bro
Thanks man 😀
No free lunch people
His advice IS better than what most kids will hear in school.
IF you feel the need to become significantly richer than average, that is.
There is nothing more riskier than relying on a paycheck for a lifetime
I read it when I was 7. It took me ages, because I got bored very quickly, but I got through it. My father is very interested in this stuff, though thankfully he never paid to attend a conference or anything. We had Cashflow, Cashflow for Kids and a couple other similar games I don't remember. When I was that little, I was a very avid reader and wanted to read anything and everything I could get my hands on. I do actually remember it being somewhat digestible to my 7yo brain, and that's not a compliment towards me or the book. It was eye-opening to grow up, half forget about it and then see a video like this.
I specifically remember one scene in it where the rich dad is offering them higher and higher wages but the point is that they should refuse no matter what, so they own their own businesses and don't get trapped in the rat race. Now and even at the time, I think that's a kind of silly idea. People need money to start businesses and one job isn't necessarily one's whole life. If you find a high paying temporary job, and it works, go for it.
The assets vs liabilities stuff was very easy to understand and yeah, from what I remember, 4:55 sums it up very well. My point is, it's mostly just stuff a 7yo can understand. Keep green high and red low to make money. It's a very, very individualistic perspective that seeks to sell a single solution to struggling people (damn, that alliteration). It misses the obvious point that not everyone can afford to start a business and there always need to be employees.
Edit: Wow, the MLM stuff is very depressing. Of course. Thankfully my father has never gotten involved with them, he always had a relatively high-paying, stable job, but it was tough. He wanted to get into investing but he did have the foresight as to the risks.
From the first time I saw these "authors" i realized that they were making money by selling books about ideas and not actually succeeding in a constructive way.
Kinda like my ex. These people are just con men.
I read through some of his books on a deployment. Best way to build wealth is playing the long game. Create a part time business like landscaping, tutoring, coaching, personal training or whatever your hobby is. It could be selling on ebay, sewing, barber, painter, mechanic work on the side and invest.. look for 5%-8% fixed annuities and make sure they tax deffered. Also get some long term bonds, and pay off your mortgage.. 15-20k at 5% ovwr 20yrs, with annual contributions of at least 5k-10k is a nice chunk of change
I remember my uncle recommending this book. I read it and thought how can you be proud of taking peoples money and losing it. Changed my life just not in the way the book suggested
I wish I saw this a couple of years before I quit the MLM I was in
Main thing is that you wised up and quit. A lot of people double-down and keep going even when they're losing tons of money.
@@RogerCaplan That's exactly what I did. -.- The thing about being in a cult is that you don't know that you're in it until you get out of it.
He did have good points. It might be self explanatory to you, but for others it is something to learn. I enjoyed his content for the most part, until he started posting "the stock market will collapse in 90 days" videos all the time. That got old way too quick.
I got on the Kiyosaki train back in 2007 and I am very grateful for inspiring me to invest as opposed to just work. I don't agree with his politics but that is his perogative.
Did u borrow money to invest. And did u resign from your full time employment?
@muhammedk470 bought some properties. Have some money, but still work for bennies plus banks feel safer loaning to someone with a full-time job
The first book has one good remark in it: You should spend money on things that actually make you rich, not on things that make you FEEL rich, like a fancy car. Other than that though...
People who know how to build wealth simply go to build it. They don't charge others to teach them how to build wealth.
There is nothing wrong with writing a book and selling it, there are good books about that subject, the problem here is the content of that book in specific.
And a youtube video is what? not teaching you how to do something or think a certain way? You do realise this video is generating income for the creator because millions and millions of haters are clicking on this right now.
If Robert Kiyosaki didnt exist this video would not of been made and therefore not monetised.
Ironic.
What’s the irony? If x didn’t exist nobody would make a video about x?
I'm calling this new genre 'Financial Fiction'
Really enjoyed your last three videos and clicked on this one excitedly but it justs din't hit the spot as much. Looking forward to the next one :D
It was a little bit different but I will keep it in mind. Thanks for the constructive feedback either way!
@@Micro-Econ-YT Hello creator, I liked this video. I'll go watch your other ones. Thanks for the good work you are doing as our world gets increasingly filled with grifters. Most democratic countries around the world, including mine, are now run by grifters. Love from India.
While I disagree with his disdain for higher education, I found some value in his book Cashflow Quadrant and Rich Dad Poor Dad. He certainly is an eye-opener for the uninitiated. His perspectives are not taught in the traditional academe because we mostly learn technical stuff there. All of us are students in life and we should learn as much as possible from wherever. A wise man learns more from his foes than a fool from his friends.
perfectly said. Up to now there's TONS of ppl who adore this man and have his book on their desk. i just last week talked to a guy who hated on me for calling out Robert and the funny thing is that no one who follows him actually gets anywhere. Look closely and you'll see that.
Actual financial stuff is indeed boring and also can be tough to incorporate into a business (i know all about this) and it's not what any1 really wants to sit down and do. Hell even i dont like doing it. Your video really spoke truth about this matter and Robert up to now is praised all based on half truths. He is 'right' in terms of ppl not being taught financial literacy. I learned the basics AT AGE 40!! lol - But he takes that point to get you into his trap.
Well done on your video sir - thank you for speaking out. I just had to comment I've talked to so many who applaud this man yet as for actual wisdom and actual results or anything to do with real money improvement in their life... there is none.
I am a finance student in my country best University . I didn't become a millionaire or a finance genius or a trader. But at least right now i can recognize these lier's who claim to be a financial couches for your success whom in fact are some dumb package sellers that know nothing about the market, btw this was a very good video , hope you success
Reminds me of art career youtubers. Funny thing is that some of his basic advice has saved my life and I learned it when a classmate tried to recruit me into Amway. Of course I immediately realised it's something like a pyramid scheme.
His ideas from the book are good. God knows about the new things he is into.
Robert is 100% right, if you don't have a business oriented mind you will not understand! He is in good dept and is making money out of it, if you are scared of that and think is not good , stay doing a 9-5 ... the only way to make real money is the way Robert is explaining!
"Employee" has 2 e's at the end. "Self-Employed" does not.
"Self-Employeed" appears at 5:43.
Thanks for another considered and well argued video. Really excellent video quality, definitely will gain more attention!
Education on scams is part of financial education. A university lecturer once told me that no one will ever share their secret sauce. But the recipe they share will have some of the ingredients. Pick out the good stuff and discard the rest.
The problem of most people is, they dont even understand the most basic concepts of finance and do not know how to manage their money. This book does help people look at money with a different mindset
Me personally I liked the book and implemented into my life and I’m doing well 🤷🏾♂️
man, Kiyosaki is a real teacher. Anyone who bashes him, has clearly never read the books, or has never applied those principles. The teachings are life changing but quite basic ; 1.the rich don't work for money, they work for assets, 2.buy assets, not liabilities. He repeats these lessons with different levels of complexity through the books. My life transformed and I have never paid a dime to attend his classes. Please, don't make statements to go viral on youtube!
True but his seminars and financial predictions are horrible
I knew a guy 20 years ago that love this guy. Followed his advice. I said it was BS the moment of heard about it. That guy now flips low quality trashy housing in Uk. I stayed in my same career, saved and invested and grew my career. I have the life he wanted and can retire whenever I like. I’m 40.
Well, I followed the ideas he had, and I can retire with over 10+ properties around the world, but I choose to stay working because my kids are still small and it set a bad example if the parents are a bum and just spend money everyday.
@ there is a wide range between being a bum and early retirement. Anyone that has as much success as is required to retire at 40 in California, can never be a bum.
This may all be true, but I have to say - reading Rich Dad, Poor Dad was instrumental in causing me to have a profound change in how I viewed money, and solidified the importance of investing and the power of compound interest.
I liked his book, it was simple but it wasn't the ultimate solution. He spoke mostly about housing
Great video, I subscribed yesterday! 😃 It takes a while to see through the various scams by those self-appointed financial gurus. 😠 But it's amazing how much becomes clear after someone points it out! 😄 I'm looking forward to more videos from you! ❤️
Just found your channel. Excellent production and content. Keep up the great work.
The only book i would recommend to someone for personal finance is "the psychology of money" .
It’s good, as is The Richest Man in Babylon, amongst others…
Book is still good. Better than what most people know
0:47 No I don't.
It’s so easy to be a grifter in America that people come here to be gurus or prosperity gospel preachers. We really are a place where dreams come true /s
2:51 because of fucking course. Wouldn’t be surprised if he ends up getting a role in the administration.
You basically came to the same conclusion that MJ DeMarco came to in his 2011 book Millionaire Fastlane. Kiyosaki actually made money off of books, not following what he preaches.
Could you link your sources and such in the desception, so one can double check and read further inormation?
You're right
His "poor dad" was a successful educator, a very successful one at that. He had a good paying job, had a house, they lived in Hawaii which is considered rich for most of us. If you want to see poor, go to South Sudan, Burundi, Congo. People there don't just have enough to eat, they don't even have clean water to drink. Everyday they have to walk for miles just go get enough water for the day and tomorrow rinse and repeat. That's poor. If I was Robert enjoying my high life in Hilo, Hawaii with a father who's head of the Hawaii Teachers Union, I wouldn't in a million years call myself poor.
Even back in 2018 when I read Rich Dad Poor Dad and Kiyosaki was all the rage and nobody questioned him I felt deep in my heart the man is a fraud. The moral of the story: trust your gut feeling.
I think best way to go about personal finance is to learn statistics and apply it to your finances and let it guide by minimalistic philosophy
“Don’t Live Below Your Means” at 6:17 bothers me so much
Knowledge supports growth.
This video felt kinda weird, like it cut off before the end. Like a recap/conclusion was missing.
People who profit from others without work or produce used to be called conmen, not "investors".
Yes, unfortunately that’s the paradigm of today. People want easy solutions to difficult problems. And are ready to support anyone who gives them to them.
Yeah, you are right. He should have focused the book about how the rich get rich on market analysis and reading MBS'es like Michael Burry did, because personal responsibility is out of the question. He could have added the disclaimer. Only invest what you can afford to lose in a field you have researched extensively for years, because it didn't go without saying.
I checked out RDPD out of the library and only made it to chapter 3. It was complete rubbish.
He's one of those people who is never rich enough. He could have lived very comfortably off the revenue from Rich Dad, Poor Dad by putting that money into basic investments and lived off that money forever but there is a deep down insecurity that no matter what, it's never enough.
IMO it's 98% the finance version of bro talk with 5 pages of questionable financial advice.
The amount of hate Kiyosaki gets is unreal. His advice is good. Following it is hard. Why the contempt? Understanding Cash flow is the key to getting wealthy.
Gay
A couple of years ago I was recommended this book by a guy passing by while I was using WiFi outside a café. I did not investigate further, as I assumed it was a useless book that just happened to coincide with that guy's financial success, if he had any. I'm going to keep assuming that.
I tried reading his book when I was a kid because my dad had it lying around. As soon as I read that he uses company money like his own personal fund, I stopped. Even as a 12 year old, that didn't sound right.
If you are really rich, you keep it to yourself. You don't go about 'teaching' others to become your competitors.
The "father" is a metaphor for schools of thought
Here in the Balkans cosmetics MLM worked for a while when there were no other players and the market was not saturated. At most it was a side hustle that would make 10% more than their day job at most or cheaper stuff at least. It did make anyone rich because no MLM can.
Saw an ad for this guy on FB other day.
The people who made money during the gold rush weren’t the ones digging for gold. They were the people selling shovels.
He’s not wrong, but he’s entirely Machiavellian and none of his advice will work if more than a handful of people apply it: abuse debt, don’t pay taxes, sell effectively nothing and let idiots pay you for it.
Every wealthy person I know does more or less the same thing to the same extent. You need to leverage debt to make money. Yes. You will never start a business without some debt. You will never rapidly grow income without some debt.
And the plan is to effectively grow you ROI and income until the debt doesn’t matter because you can pay it back easily. Where he becomes a piece of shit is telling you “you don’t have to pay taxes, you don’t have to pay back debt” and now an entire generation of people are selling the image of wealth to grift hopefuls into blowing massive amounts of money they don’t have.
Selling DREAM !!!!!
And if im so rich, i wouldnt bother to sell more books and courses, but rather, i will focus on my core investment businesses and do real charity works. Just like Gates and Buffet.
His idea still good. Be smart investor by experience in business.
The only guy i trust in terms of investing and all is Warren Buffett. This guy seemed to be a fraud from beggning from me, too bad people took too much time to realize that and made him profit on top of that making him more famous
Dude great channel so far, keep it up!
"You're literally mining your own gold"
No. Even if he had bought a mine. He wouldn't be mining it himself. He'd be paying other people to mine it. Then paying people to watch the miners...
They tried to get me into a MLM and I just can’t “invest” in a business model that I think is worthless and when they gave me books to read (they did have some good books ngl) and he gave me rich dad poor dad and I started looking into Robert’s past and is ties with MLM he lost all credibility and I never read one page out his book. Even got it as a gift and I will eventually but ppl don’t do research on a lot of mainstream media and many of these ppl are not credible.
Perfect for head of department of education
if you follow anyone without thinking, and literally, there will ALWAYS be a problem... BUT, if you even THINK about the implementation :D , then maybe you think strategically about building a company, and you build it in such a way that everything can be duplicated and delegated.. .And frankly, 90% of LLC owners do most of the work themselves, and the business literally rests on their shoulders... their time and health is the biggest limit... if they can't work more hours, the business can't grow anymore... if their health fails, the company closes... BUT if you build even a relatively small company strategically and delegate correctly, you can very quickly get to the point where you don't work in the company and deal with daily operations, but you can work ON THE COMPANY... you develop it, train new employees, acquiring new customers, partners, optimizing contracts with suppliers and the bank... a very important lesson that a lot of entrepreneurs will never understand, or after a very long time...
Ive been curious for years, since his 1st book, who is that rich dad, and the rich man's son Micheal, and his real dad.🤔
I’ve never heard of him til about a year ago when the “crap” he was saying appeared in my feed. Why? He was saying that all you had to have was a $20.00 silver coin. BTW. you need a huge amount of those coins! I never listened to him after that.