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Robert Kiyosaki - John T. Reed Analysis of Robert Kiyosaki B

Robert Kiyosaki - John T. Reed Analysis of Robert Kiyosaki B

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John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad
John T. Reed’s analysis of Robert T. Kiyosaki’s book
Rich Dad, Poor Dad
 Copyright 1999, 2000, 2001, 2002, 2003, 2004, 2005, 2006 by John T. ReedSeminar and home-study course ratings|Real estate investment pageA number of people asked me about Robert T. Kiyosaki and his book 
 Rich Dad, Poor Dad 
. When I said I didn’t think he was a real-estate guru, they insisted he was. Several told me Iwould like him, that he preaches a message like mine. Eager to find such a guru, I bought his book,
 Rich Dad, Poor Dad 
in a bookstore.I was
pleasantly surprised. I do
like his book at all. Over time, I have received numerous reports that Kiyosaki is primarily a creature of Amway (now Quixtar) and other multi-levelmarketing organizations. Reportedly, his books were not selling until he allied himself with that crowd. Then the volume of sales to those MLM guys made him a best-selling author,which caused normal non-MLM people to think the book must be good. Click herefor an email I received along those lines. There is an unauthorized Web site about Amway atwww. amquix.info.Some readers have said that if I am going to criticize Kiyosaki’s book, I must offer a version of how to better yourself that does not have the flaws of 
 Rich Dad Poor Dad 
. No problem.That would be my book Succeeding.Last updated 7/26/06Selected emails from visitors to this page
Collection of age-old cliches about money
 A reader recently suggested that
 Rich Dad Poor Dad 
is nothing but a collection of cliches about money.
cliches. Cliches that have been around since way before Kiyosaki claims “richdad” originated them. The reader further said that Kiyosaki then appears to have simply made up a bunch of accompanying phony stories to fill the cliche collection out to the length of abook. She may be right. For example, Kiyosaki’s fear-and-greed advice (see below) is an age-old Wall Street cliche about securities prices.Another reader put it this way,
“But you have to admire a guy who can spin two or three paragraphs of very ordinary financial platitudes into such a range of books.”
Now admits ‘fictionalizing’
On 8/15/01, a reader told me Kiyosaki now has the words “Although based on a true story, certain events in this book have been fictionalized for educational content and impact,” in thefine print on the copyright page of 
 Rich Kid Poor Kid 
. I had not previously been aware that “educational content and impact” justified lying. Also, I am now confused as to why Kiyosaki’sbooks are on the
best seller list if they are fictionalized. Probably becauseas
‘Poor dad
The idea behind Kiyosaki’s title is that his real father was upper middle class. He graduated from Stanford, Chicago, and Northwestern Universities, all on full scholarship, ultimatelyearning a Ph.D. He pursued a career in education and became the head of the education department of the State of Hawaii. He owned the home in which the Kiyosaki family lived.Kiyosaki calls him his “poor dad.”
‘Rich dad
 One day, he asked his father how to make money. His father said he had not made much money and did not know how to make it. He suggested that Robert ask the father of his next-doorplaymate, Mike. That boy's father was a successful local businessman. He was also an eighth-grade dropout and ultimately a multimillionaire with a bunch of small businesses likeconstruction, restaurants, and convenience stores. Kiyosaki developed a father-son relationship with the neighbor. That is who he is referring to when he uses the phrase “rich dad.”
http://www.johntreed.com/Kiyosaki.html (1 of 42)13-09-06 4:12:19 PM
John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad
One visitor to this site asked me if I was sure “Rich Dad” really exists. No, I’m not. In fact, I now lean to believing that there never was a “Rich Dad,” that Kiyosaki made the whole thingup. If I had written such a book, I would have named him in the book, if only out of gratitude. It is noteworthy that Kiyosaki refuses to identify “Rich Dad” and the
 Honolulu Star-Bulletin
 was unable to figure out who it was in spite of the rather obvious “next-door neighbor Mike whose father owns convenience stores, restaurants, and a construction company” clues. Theman was purportedly around 30 to 45 years old in 1955. So he would be 75 to 90 now. How many people on that one street in Honolulu could possibly fit that description?As I recall, the first convenience store was 7-11 and I believe they became widespread around the 1960s. It’s possible Kiyosaki is using the phrase “convenience store” loosely and reallymeans corner groceries, which did exist in the 1950’s.But I also find the mix of business unlikely. The guy owns “convenience stores, restaurants, and a construction company.” I guess I can imagine a guy who owns convenience stores and aconstruction company. It’s odd, but not impossible. However, I cannot imagine a restaurateur who also owns a construction company. For one thing, the restaurant business is extremelymanagement-intensive. At good restaurants, the owner is usually there almost all of the time. Same is true of construction. Plus restaurateurs that I’ve known are very different kinds of people from construction guys.Kiyosaki’s real father (“Poor Dad”) was named Ralph Kiyosaki. I encourage readers in Hawaii to try to research Ralph’s home ownership when Kiyosaki was nine years old (1955) and tryto figure out which adjacent or nearby homeowner might have been “Rich Dad.” If we can find a person who fits the description, and he is either a public person or dead, I will publish theidentity.A bunch of people have told me “Rich Dad” was a now-dead guy named Kim or Kimi. Fine. Get Kiyosaki to say that. Or get Kim’s surviving relatives, like Kiyosaki’s friend Mike, to sayit. A bunch of yahoos on the Internet saying it means nothing. People on the Internet see Elvis at their 7-11.
1992 book versus 1997
In 1992, Kiyosaki wrote a book called
 If You Want to Be Rich and Happy, Don’t Go To School
? It is “dedicated to Ralph H. Kiyosaki, former Superintendant of Education, State of Hawaii,the best teacher I ever had.” This would be “Poor Dad.” But
 Rich Dad Poor Dad 
, which came out in 1997, says quite emphatically that
Dad was the best teacher he ever had.So maybe “Rich Dad” was the
best teacher he ever had. No. Actually, the 1992 book also identifies the second best teacher Kiyosaki ever had:F. Marshall Thurber.OK. So maybe “Rich Dad” was third. No. Kiyosaki’s 1992 book has an unusually long acknowledgment section. It lists 111 people, none of whom appears to be “Rich Dad.” That is, noneare singled out except for his “Poor Dad” parents, in-laws, business partner, and editors.Mind you, according to the 1997 book 
 Rich Dad Poor Dad 
, “Rich Dad” supposedly became central to Kiyosaki’s life starting in 1955 when he was nine. So where was “Rich Dad” in 1992when Kiyosaki was so diligent at identifying the people who had been important in his life?In a 4/18/06 Yahoo! column, Kiyosaki now says the best teacher he ever had was Buckminster Fuller.“Getch yer programs right here! Ya can’t keep track of Kiyosaki’s best teacher he ever had without a program!”
EST then Money and You
 A man who says he has known Kiyosaki since the military in Hawaii says Kiyosaki got his start in the “tell other people how to live their lives” business as a result of taking then becominga speaker in the Money and You organization.Money and You was a seminar company started by Marshall Thurber, an est graduate. Est was a notorious seminar company in northern California run by Werner Erhard.Werner Erhardisapparently one of many aliases used by John Paul (Jack) Rosenberg, a Philadelphian who started in life as a car salesman and who then moved through a series of aliases, sales careers, andwives before coming up with the name Erhard and the est seminars. They were famous for not letting participants go to the bathroom and for maddeningly vague advice. For a while, theywere going to cure world hunger by getting a lot of people just to think about it.Money and You was reportedly a useful seminar. Shortly after Kiyosaki went to mainland U.S. from Hawaii to run away with Thurber’s circus, Thurber decided to shut it down. Thurber
http://www.johntreed.com/Kiyosaki.html (2 of 42)13-09-06 4:12:19 PM
John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad
let Kiyosaki and some other speakers take over the business. They promptly emphasized the Australian and New Zealand markets which have at times in their history overvalued productsand services from the U.S.Their run in Australia ended when the Australian equivalent of 
60 Minutes
did an expose about Money and You.Basically, it appears that Kiyosaki is a good salesman, although we sort of have to take his word for it pending confirmation from Xerox. Good salesman is the universal description of allthe expensive so-called real estate investment gurus. They are
guys, not
real estate
guys. Apparently Kiyosaki is yet another example.This caller also said that Kiyosaki’s wife Kim appears to be the one who invested in Phoenix real estate. “Bob” appears to be the Ralph Kramden (main character of theHoneymooners TV series) of the family, perennially hatching one-hare-brained get-rich-quick scheme after another (like Kiyosaki’s Money and you, velcro surfer wallets, and Rock T-shirt businesses) whilehis wife invests in basic stuff. I am not ready to annoint her a financial genius. One would have to inquire as to whether their real estate investments in Phoenix appreciated more than thoseowned by the average person. Most likely, they made the same return on their propertties as Joe and Jean Average Phoenix homeowner. If so, they would be as quaified as Joe and Jeanhomeowner to write a book about it.Reportedly, Kim got the idea to invest in Phoenix real estate from a female fellow employee of Money and You who said the Phoenix market was going to be good. That female Moneyand You employe is the one who should have written us a book on real estate investment.
may be the brains of the outfit if Kim did not add any value to her advice.The guy who called me has the impression that Kiyosaki’s tortured psyche and insecurities stem from growing up as an obese kid in Hilo in the 1950s. Since he did not know Kiyosakiuntil the military, that information must have come from Kiyosaki.
No more Bob
 Kiyosaki went by Bob for most of his life. Since he became the famous author, he insists that everyone call him “Robert.” Sure, Bob.
investigation of Kiyosaki
did a program about Kiyosaki who has now written 18 books. You can read their story about it athttp://abcnews.go.com/2020/story?id=1982669&page=4. The date on theInternet story is May 19, 2006 so the story must have been aired on
around then. Basically, they gave three people $1,000 each and told them to try to start a business that wouldshow a profit within 20 days. One lost all he money. Another made zero. The third made $243.Kiyosaki was brought in to coach them and to advise them during the 20 days. Based on the article, it sounds like about all he did was whine about the three would-be entrepreneurs, theshort time frame, and so forth. He also pronounced their failures a success—typical Kiyosaki logic—because they learned from them. The ABC
story ends with,“Which begs the question: Does anyone really need 18 books to learn to fail?”Obviously, Kiyosaki has sold 26 million books on the promise that they would help you
. Then, when people who have been personally coached by him fail, he blames them and,like the Queen in Alice in Wonderland, declares their failures to be successes.I guess it would be too much to ask for him to admit, “Gee, my advice was of no value to these three.”If I had been asked to participate in such a challenge, I would have said I have no expertise in telling anyone how to make a profit with $1,000 in 20 days. I do not know how I would havedone that if 
had been given the money. Probably try to buy something for less than market value then ressell it closer to market value at a flea market or on eBay or osme such.It would be interesting for
or a similar program to give $1,000 to Kiyosaki himself and let
he himself 
show how to turn it into a profit using some method open to his readers. Youwould have to have a microscope on him every second and prohibit any undisclosed actions or conversations to prevent him from using methods
available to his readers.What business has Kiyosaki ever made a profit in? With regard to his 26 million books, he is not a businessman. He is only an author. The businessmen generating those sales and profitsare his
http://www.johntreed.com/Kiyosaki.html (3 of 42)13-09-06 4:12:19 PM

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