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'Rich Dad, Poor Dad' Author Files for Bankruptcy

I just heard about this even though it happened a few months ago. Apparently his personal holdings are somewhere in the $80 million range so I think he will be okay.

This basically reinforces everythign he teaches. It is only going bankrupt because it is gettind sued and low and behold, they keep the company assets low by paying out almost all profits to its share holders and he and his wife are legally protected by an LLC and not personally liable meanwhile they can file for chapt 11 and restructure.

There are a lot of good financial gurus out there. Robert Kiyosaki is not among them.

His books contain absolutely no substance. Key points are as follows:

1.) Passive Income = Good
2.) You must sign up for one of his expensive courses to glean any benefit from reading his books.

A lot of Van Houten up in this thread…

[quote]PimpBot5000 wrote:
There are a lot of good financial gurus out there. Robert Kiyosaki is not among them.
His books contain absolutely no substance. Key points are as follows:
1.) Passive Income = Good
2.) You must sign up for one of his expensive courses to glean any benefit from reading his books.[/quote]
This is what most web pages are running:

“The schtick behind the Rich Dad books was that Kiyosaki was sharing secret money-making strategies of the wealthy with his wage slave readers. The tips ran the gamut from ridiculous to illegal and downright hurtful and included advocating for insider trading, arguing for the purchase of multiple real estate properties with little or no money down and telling followers they could purchase stocks on margin via unfunded brokerage accounts.”

Seems he is running out of fans all around.

http://www.forbes.com/sites/helaineolen/2012/10/10/rich-dad-poor-dad-bankrupt-dad/

I personally thought his books were a good philosophy on how to view and treat money. They have helped me out significantly. I agree with Pimpbot that there wasn’t a ton of actual money making “substance,” more theory.

Money making idea = write book on making money

[quote]comus3 wrote:
Money making idea = write book on making money[/quote]

Yep have heard that’s happened for a few people…

Robert Kiyosaki great for kids who spend and don’t know how to save/plan for the future. But for those of us who have graduated beyond that point I not sure how much substance he has.

[quote]Mr Stern wrote:
Robert Kiyosaki great for kids who spend and don’t know how to save/plan for the future. But for those of us who have graduated beyond that point I not sure how much substance he has.[/quote]

I have a friend who has successfully implemented his “Cash flow Quadrant” and is doing quite well.

And I do think it has value for everyone. After reading this book, I immediately say how stupid 95% of my coworkers are with money (And they are all 30+).

[quote]comus3 wrote:
Money making idea = write book on making money[/quote]

Genius idea. As far as the sad fools who help him realize his money making dream…morons.

There is no secret to making money, being successful, living a perfect life, etc. Some people can strive their entire life to be rich and successful just to die broke failures…while others can be useless, non-contributing human trash and win the lottery lol.

Damn…I need to go get a lotto ticket.

not the greatest character but there is some truth in the shit he says