Robert Kiyosaki: If you’re investing for the long term, ‘you’re crazy’

[DarrVao777]

http://www.marketwatch.com/story/rich-dad-author-robert-kiyosaki-if-youre-investing-for-the-long-term-youre-crazy-2016-08-25?siteid=yhoof2&yptr=yahoo

I know WCI has mentioned how he isn't a fan of Robert Kiyosaki's books in past posts.

If someone could concisely explain what Kiyosaki's angle is, I'd appreciate it. His interview answers from the linked article seem to be all over the place and he strikes me as a manic salesman. I just don't know what he is trying to sell me. (I also don't plan on purchasing or reading his books to figure it out.)

Thanks

[G]

Wow, that interview looks like a trial-run for political office--a lot of talk without much substance.

I haven't read his (debut) book in a long time, but as I recall the premise was the employee vs owner mentality.  I recall enjoying it; don't buy it, your library will have a copy.  Or 10.  I never did figure out his angle, aside from fabricate a fun story and monetize it by creating an empire around the idea.  Very well played.

[WealthyDoc]

I like his books.  They aren't detailed and they are full of repetition and errors.  Nevertheless I like his big picture ideas of why financial literacy is important, how to think about real assets, understanding cash flow, doodads etc.  Borrow a copy from the library.  It is an easy read.  If you like it read his Cashflow book too.

http://www.wikisummaries.org/wiki/Rich_Dad,_Poor_Dad

 

[Zaphod]

I've heard lots of seminars being pitched on the radio and certainly books count, all advertising feeds sales I guess.

[jfoxcpacfp]

Let's see -

• You're a whore if you work for a paycheck. Really? How many whores are on this forum?


• We've never been here before. Pretty profound - you can say that any day in the stock market.


• His interview backdrop is the financial Wheel of Fortune.

I think he's simply run out of things to say. He would make a good addition to this list.

[WealthyDoc]

jfoxcpacfp wrote:

Let’s see –

• You’re a whore if you work for a paycheck. Really? How many whores are on this forum?


• We’ve never been here before. Pretty profound – you can say that any day in the stock market.


• His interview backdrop is the financial Wheel of Fortune.

I think he’s simply run out of things to say. He would make a good addition to this list.

Click to expand...

Far be it from me to try to defend Rob Kiyosaki.  He has many flaws.  He is wrong about a lot of "facts" he quotes.  The thing I like is he encourages people to get a financial education and understand the terms of accounting (the language of business). His simple diagrams lay out a conceptual understanding of cash flow.  He emphasizes the importance of income statements and balance sheets.  He warned people about relying on their personal residence as a source of wealth (right before the housing crash).  He encourages people to plan ahead, acquire assets that produce positive cash flow and to stop waiting and hoping or living paycheck to paycheck.  The "wheel of fortune" is from his RichDad's CashFlow game.  It teaches people how to exit the "rat race."  It is also an example of how he created intellectual property that produces income.  I'm sure he is worth tens of millions by now and some of that is well deserved in my opinion.