"rich dad/ poor dad" Japanese guy now a TA guru

Quote from hajimow:

It shows the rich dad , poor dad book does not make good income for living anymore. Very soon we might see his wife writes a book on FOREX.
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He might include a free velcro wallet with each TA seminar.
 
Quote from Kassz007:

I watched a documentary on this guy's real estate seminars a little while back on a Canadian news channel (CBC). I was shocked at what I saw because I always thought this guy was a respectable business man. The opposite is actually true. The documentary went undercover and showed the utter and total BS they were selling (telling "students" to max out their credit cards to get money for real estate investing etc.). Robert even admitted on camera that the guys teaching these classes were scum and tried to explain that he was affiliated with the classes by name only and was trying to get out of the contract with the company teaching those classes. The very definition of a snake oil salesman.
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He was a respectable person when he wrote his first book, then he began listening to and hanging out with Trump and everything kind of went downhill from there.
 
Quote from jalee25:

I met him once... he didn't even say a word to me... just looked at me wierd... oh well...
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Something tells me you get that all the time from people ...
 
Quote from bigpapi:

Something tells me you get that all the time from people ...
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Maybe from people such as yourself... who think they're too good.

Sometimes people cross the line from cockiness... and confidence.
 
Quote from dandxg:

I read his first two books, but the rest are just rehashed crap. After reading this I highly doubt his stories are even real. http://johntreed.com/Kiyosaki.html
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I disagree. His books are good, especially for people without financial backgrounds.

I'm an accountant, and I actually quite enjoyed his explanations of assets & liabilities in Cash Flow Quadrant. So simple, yet true - assets generate money, liabilities cost money. A lot of people think that their car is an asset, which is crap; it declines in value every minute and requires cash outflows all the friggin' time. Even for a guy who claims to be a real estate guru, he says that your house isn't an asset, as you still have to pay taxes on it. Who really owns it? The government. Pretty good stuff.

Anyway - I've also been to one of "his" (read: one of his franchisees) seminars, and it was pure crap. Without a doubt, this guy's aligned himself with some major charlatans, but it doesn't take away from the fact that his books are good. I've probably read about 5 of them and would gladly recommend them.
 
"A lot of people think that their car is an asset, which is crap; it declines in value every minute and requires cash outflows all the friggin' time."

You are an accountant? Jeez, I feel sorry for your clients. I hope you realize what you are saying is technically 100% WRONG?

If the asset requires cash outflows and depreciates then that is accounted for on the balance sheet, it does not make a car "Not an asset". If a car is financed the Car is the asset the liability is the financing agreement/note. PLENTY of assets (both consumer and productive) depreciate.
This in no way makes them "Not an asset".

Far from being a teacher of sound business principles, this guy is a 100% crank who has mislead many. If one wishes to learn to think like an investor/businessman, failing to understand even the very basics of accounting is not a great place to start.
 
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