Rich Dad Poor Dad Comes to Cebu

[hitch22]

...I’ve read some of his books, and it was NOT a disappointment for me.

...When I read his books, it had something NEW to say to ME

Well, tell me what's new from Kiyosaki's books. Cite examples, please.

1) Going the business route as ONE answer to financial success? NOTHING NEW
2) Splurging on "doodads" as counterproductive to one's balance sheet? NOTHING NEW
3) Education not a guarantee to financial freedom? NOTHING NEW
4) There's no such thing as job security? NOTHING NEW
5) Starting your business part-time first? NOTHING NEW...although he didn't even care to mention that most REAL businesses cannot afford part-time attention.
6) Save and invest? NOTHING NEW
7) Get a financial education? NOTHING NEW

4. Aren’t we all asking permission when we want to do something in the office? Especially when it involves crucial decisions? And how many of you here aren’t “ slaves to paycheck “?

Again, this is typical modus operandi sa mga scam artists associated with MLM/Network Marketing. They pander to the working-wounded's sentiments. They'll tell you "Why are you stuck with a job that you hate and with a boss that you hate? Leave that job and join us." What the MLM guy tells you is true...but his solution is dangerous. And that's what people need to find out very carefully. Can you really get rich with MLM/Network marketing? Is it really a business? How are you going to make money off it? Where will that money come from? How much will it cost you? What's the business model? Keep asking pointed questions, and I'm sure you'll blow their cover and get their goat. I tell you, DAGHAN NA KAAYO ANG NI-APIL SA MGA INGON ANA...most of them hardly made much money...only a few would usually come up and talk about their successes (kuno) but no one can ascertain whether their stories check out or not.

5. Yup, his turning his attack on schools, where else can you get most of your education from? And how many people who are very educated even graduating with flying colors and are still “slaves to paycheck” and are trap in the rat-race?

In school, when we cooperate with other students, it’s called cheating, but in a corporation when we work together for a common cause it’s called teamwork, it’s a rhetorical phrase don’t and please don’t quote me on that.

To name a few people who either drop or didn’t finish schools but are millionaires or billionaires, Bill Gates, Henry Ford, Thomas Edison, Fred Trump etc….

This is a dangerous argument, precisely because it devalues the importance of education. The question becomes: WHAT'S THE ALTERNATIVE? ATTEND KIYOSAKI'S SEMINARS? GIVE ME A BREAK!

Complaints about quality of education have been around for a long time. But that doesn't mean people should start giving up schooling and follow a scam artist's advice.

Yes, Bill Gates and company (you forgot to include Michael Dell and Steve Jobs in here too) are college dropouts. But they're hardly your typical dropouts. These people were geniuses and ahead of their time. You have to look into the circumstances of their success too. These people stumbled onto their great ideas early in life and were obsessively preoccupied in fulfilling those visions, such that school time was proving to be a hindrance. IF YOU DO NOT HAVE THOSE TYPES OF IDEAS, THE SAME KNOW-HOW, THE SAME SINGLEMINDED-NESS OF PURPOSE, THE SAME ENTREPRENEURIAL BENT, DON'T GIVE UP SCHOOL!

Don't take Kiyosaki's half-truths and run with it. It's just irresponsible. Half-truths, because he just tells you a truth that supports his arguments but doesn't really give you the entire picture.

6. Yup his famous quadrant, actually the E-Quadrant stands for Employee not Entrepreneur, did you really read his book? What he wants us readers of his books is the path to the B and I quadrant , B – Business (Big) , I – Investor (inside investor), he recommended it but not forced it to us. Since it is the best and proven way to become rich, a lot of time I hear people saying “ Walay madatu sa panarbaho” I believe it’s true, most of the time, right?

* I stand corrected on the E-Quadrant. What can I say? It's been a long time since I've read that old book (almost 10 years ago). Yes, the four quadrants: E-Employee, S-Self-employed, B-business, and UI (Ultimate Investor). So what? Nothing new about them when I first read the book in 2000. Am I supposed to be in possession of a life-changing insight with that?

Once again, HALF-TRUTH.

While it is true that the Forbes Richest list would only spell ENTREPRENEURS (the Ultimate Investors), you have to get real about your circumstances and admit the obvious: ONLY A FEW OF US WILL BECOME ONE OF THEM.

Most of us aspire for a life that's free from financial worries. Some desired lifestyles need a lot more money than others. And it's not always true that a business will always out-earn a non-businessman's income. A Julie's bakeshop owner won't necessarily outdo a successful doctor. Income from a Filipino US-based nurse who works two shifts can out-earn most small businesses in Cebu. Even a call center agent can out-earn a new internet cafe.

Kiyosaki doesn't even present the economics behind starting a business. If you look at a typical, successful business which you want to follow and you don't have a clue what its product's profit margin is, don't even think about plunging headlong into that business. If that business enjoys economies of scale in its production, you stand no chance of competing against it. Furthermore, starting a business part-time doesn't reduce the risk of business failure, as Kiyosaki had suggested. That's plain ignorance. Your part-time involvement has nothing to do with the viability of your business idea. In fact, putting only part-time effort to your business could very well spell its failure. You know very well that the success or failure of a business depend on the real feasibility of the product/service being marketed, the quality of your product, your marketing strategy, your cash flow, your management of resources, your unique selling proposition, etc.

7. Well the board game is one of the tools to get a financial education, Have you played the game yourself? If so how many times? Did you learn something from it?

NOTHING NEW. I'm fine with my business without that board game. Yes, I played Monopoly when I was a kid, but my knowledge of business comes from experience. I tell you, it's not as easy as Kiyosaki makes it sound. And every critic knows Kiyosaki's claims are all BS, if you've cared to check his background.

...but it made more sense to me playing the board game, than in school doing those assignments, What I wanted to say is that, the board game is a very good tool for your steps to financial literacy, you don’t have to buy the game, you can borrow from a friend who has one, or you can go to clubs who has them. I believe it doesn’t cost that much if you don’t buy the game.

You'll learn a lot more in accounting and marketing classes. THERE IS NO SUBSTITUTE. Advising people to substitute those for Kiyosaki's boardgame is peddling a fraudulent product. The only person who gets rich from the board game is KIYOSAKI.

Buy the board game if you think it's worth the money or just to satisfy your curiosity. But don't think for a second that you can throw away the accounting and marketing books for these. Erasmus was right when he said "Folly is perennial."

8. I salute your total negative backward thinking bro, now I’m beginning to think you haven’t really read his books, I don’t care which network marketing he is in now, he could be in a any network marketing company right now, but I remembered in one of his books recommending to spend some time learning to do marketing, what he pointed out right there is the “LEARNING” that you get from attending trainings in those entrepreneurship seminars, programs or whatever you want to call it. He went into network marketing as what he said “ just to overcome his shyness”. How can you get rich if you don’t even know how to sell? People advising other people on how to get a job, points to the importance of selling yourself when you’re on a job interview.

Well, one thing you don't lack is arrogance. I'm only here to counterpose my skeptical view to your "Hurry! Limited time offer!" hucksterisms.

I've read two books and listened to one audio book from Kiyosaki actually: Rich Dad, Poor Dad, Rich Dad's Guide to Investing, and his audio book The Perfect Business. I took notes...then I reflected on everything he said and laid them against everything I know so far about business. My critique: Positive - good justifications for going into business (That's it...nothing new); Negative - nothing new, short on specifics, ambiguous, full of half-truths, suspicious plugging in of his other products (like the Cashflow boardgame), and dangerous de-valuing of education and employee work.

Like I said, I do not stop anyone from buying Kiyosaki's books or attending his seminars. In fact, I encourage it, just so people will judge for themselves. Just don't spend more than necessary on Kiyosaki products. If the first purchase is not worth it, DITCH THE REST OF 'EM.

Network marketing? This is the one Kiyosaki describes as the Perfect Business. Of course, he's an AMWAY guy. Read the AMWAY scam here, from MSNBC: In pursuit of the almighty dollar.

You want to learn how to sell? Be a salesman, a marketing agent...people who help move products from suppliers/manufacturers to various distribution channels, to retailers, and direct to the customers. If you think the best talkers make best sellers, you're WRONG. It's about trust and confidence...NOT HOT AIR. Fast-talking, razzle-dazzle, lightshows belong to the entertainment industry.

MLM/Network Marketing? Go for a salesman's job that pay straight commission instead. At least you know how you get your money. At least walay delusions of grandeur na synonymous with MLM/Network marketing, where you might end up spending more than you earn.

And please check the covers of well known books, it says “best SELLING author “, get it? best SELLING not best WRITING author.

Ha, ha, ha...mao gyud nang typical line ni Kiyosaki. Bestselling gyud, kay daghan gud na-ilad! Daghan pud mga curious pareha nako.

11. In Rich Dad, Poor Dad I don’t see any words explicitly saying to drop out of college, what a pity excuse that would be, hahaha, dropping out of college because Kiyosaki telling you to do so. But I do remember him telling “ DON’T drop out of school, do it as a PART TIME. “ please read his books again.

You don't get it. When he starts de-valuing the importance of schooling and then reinforcing that argument with the statement that schools in fact are bad for aspiring entrepreneurs, THAT SENDS A DANGEROUS MESSAGE. Kiyosaki may have said, "DO IT PART TIME," pero the reader was already influenced by the earlier message. Following Kiyosaki's flow of thought, an unsuspecting reader would think like this: "Yes, I want to be an entrepreneur....yes, school's bad for entrepreneurship training...therefore, quit school....hmmm...what's this? DO IT PART TIME...but the argument against schooling is rock solid, therefore I can ignore this part." Naa ni siya sa usa ka documentary about the AMWAY-Quixtar scam (naa sa Youtube) and the book that made the victim quit schooling was Kiyosaki's book.

Which of us follows the herd, really? The skeptic or the mass cult that follows AMWAY/Quixtar and Kiyosaki? A skeptic is not necessarily close-minded. He's just one who admits that he can easily be fooled and therefore demands evidence from anyone who claims more than is necessary. A skeptic will ask a lot of questions because he seeks to understand the concept/model that is peddled right in front of him. That's why the great investors like Lynch don't follow the herd. They're skeptical about the herd. They do their homeworks diligently (sometimes called "scuttlebutt" by Warren Buffett) and form independent judgments on the facts they've gathered. Why do you think Buffett lives in Omaha rather than in Wall St? Because he's skeptical of Wall Street and he treasures independent thinking.

Whew….With all those said, I would humbly ask you to read his books again, and weigh for yourself if it is worth the while discrediting his principles and his credibility.

I won't waste my time with anything that has the "Rich Dad" brand. For a bad book, one reading is enough to a sensible person.

I don't need to discredit his principles. He discredited himself.

ONCE AGAIN, watch this video from the Canadian Broadcasting Corp., dated January 2010: Who's getting rich off Rich Dad?

It's okay if you disagree with me or don't read any of the above statements I made...but I can't state this important request enough (and it won't cost anyone any money): WATCH THE VIDEO...para lang gyud dili masipyat, ania na sad ang link:

Who's getting rich off Rich Dad?

[starcatch]

---its only a matter of your opinion, what ever you read its all up to you if u fel that it brought something to you or not.....

[hitch22]

@hitch22:

I was getting excited about attending the seminar with my wife and then I read your comments...

I went to the link you provided by John T. Reed... I scanned the page... Boy, that's a lot of stuff to read! That deserves careful reading. But right now I don't have the time to read them all. Now, I'm hesitant about going to the seminar.

Like many people, I really loved Kiyosaki's book. It was also an eye-opener to me. It really fired me up. It was the book that really gave me an awareness about taking care of my financial life. However, if John Reed is right about everything he said about Kiyosaki, that's really terrible... I mean, I looked up to him as one of my role models...

But I don't really know much about personal finance, real estate or entrepreneurship (although we do have our own businesses).

Okay, if Robert Kiyosaki is not really a guy we should trust, can you recommend other gurus out there who are trustworthy, or whose advise on personal finance, real estate, business/ entrepreneurship are worth listening to? In other words, who are your personal gurus and what are your favorite personal finance, real estate, business/ entrepreneurship books?

Thanks!

Firstly, regarding KIYOSAKI, JUST WATCH VIDEO. That's all I can say. Watch and see for yourself! I'll place the link again:
Who's getting rich off Rich Dad?

Secondly, IF I TELL YOU WHO YOU SHOULD TRUST, THEN I'M NO BETTER THAN THESE HUCKSTERS.

If you really want to know which authors I would go for regarding the topics of concern, here is a list of them:

1. Management authors: Peter F. Drucker, Tom Peters
2. Marketing authors: Al Ries & Jack Trout, Philip Kotler
3. Investing: Peter Lynch, Benjamin Graham, Jim Rogers
4. Personal Finance: The free book I got from Citibank was wonderful.
5. Real Estate: I DON'T KNOW...neither does Kiyosaki

Again, this is just my list of my favorite business authors. Please do your own research.

Thirdly, if you've already committed to the seminar, go for it. It's only money and you've got wisdom to gain...wisdom of learning something new or wisdom of learning what an infomercial sounds like . I do not hold you against your will. Like I said, I could be wrong. I present my case. The other side presents their case. And you make up your own mind.

Good Luck! The venue looks good. If anything, you'd still get your money's worth from a (hopefully) wonderful vacation. Just don't let them push you into committing to things you might be too uncomfortable with....like signing up for an expensive "advanced training" course or joining an MLM which you may not want to waste your time with or increasing your credit limit.

Again, JUST WATCH THE VIDEO (from the Canadian Broadcasting Corporation, dated January 2010) and tell me what you think.

Who's getting rich off Rich Dad?

[hitch22]

Here's one of Kiyosaki's books:



IF ANY RIGHT THINKING PERSON CAN SAY THAT THAT'S GOOD ADVICE.....


I REST MY CASE.


Once again, PLEASE WATCH THIS VIDEO IN ITS ENTIRETY (it's 22 minutes long...but it's worth watching)...you'll see what I mean.

The CANADIAN BROADCASTING CORP. presents...Who's getting rich off Rich Dad?

[dorian]

^ I should have bought and read this book before I even started college. Think of all the money I could've saved... or lost... or saved... or lost... ahhhh, never mind.

[hitch22]

^ I should have bought and read this book before I even started college. Think of all the money I could've saved... or lost... or saved... or lost... ahhhh, never mind.

Well, it's not too late. Buy that book! Read it, make your own judgement about it, and then make up your own mind. If, after reading the book, you're convinced that college is a waste of time, then you've proven my point: that the book does make a convincing case for dropping out of school.

But before you buy into the Kiyosaki-mania wholeheartedly, check out this video first...

January 29, 2010...

The Canadian Broadcasting Corporation presents...an Marketplace expose program...

Who's getting rich off Rich Dad?

[dorian]

Well, it's not too late. Buy that book! Read it, make your own judgement about it, and then make up your own mind. If, after reading the book, you're convinced that college is a waste of time, then you've proven my point: that the book does make a convincing case for dropping out of school.

But before you buy into the Kiyosaki-mania wholeheartedly, check out this video first...

January 29, 2010...

The Canadian Broadcasting Corporation presents...an Marketplace expose program...

Who's getting rich off Rich Dad?

I earned my degree years ago. I discovered Kiyosaki's book, a year or two after I graduated from college.
To tell you frankly, I do feel like I wasted my college education, I'm not using it and haven't been using it since I finished school which I think is a different case.

[hitch22]

Actually, it is too late. I earned my degree years ago. I discovered Kiyosaki's book, a year or two after I graduated from college.

Actually, you mentioned "before I even started college" but didn't say anything about finishing it. So I assumed you were still in college. Anyway...

So, had you read Kiyosaki's book, would you have dropped out of college and--like you said--"saved yourself the money"? And I assume that you funded for your own education, not your parents?

Well, it's good that you've got your degree. You may not think much of it, but it's almost like a basic minimum for ordinary mortals like us. Gates, Jobs, Dell...they're bigger than schools and way ahead in terms of their paradigm and vision. What worked for them won't work for us. Regarding education, my criticism of Kiyosaki is his dangerous thesis that you should not go to school if you want to be rich and happy. People take that thing literally. They'd say to themselves: "I want to be rich and happy, therefore I should not got to school."

Throughout Kiyosaki's book, you will find yourself nodding to a lot of his general statements. But at the end of the book, you're left wondering about the answer to the proverbial $64,000 question. How? In other words, he doesn't tell you anything specific. Like a typical con job, they'll bring you to another one of their products (another book or a training program or seminar) which supposedly cover these things. And that too may well turn out to be sorely lacking in substance. And since you've gone that far already, they figure you might as well take up the "advanced program" which they'll say goes into the highly detailed, technical parts of the subject. That's how these "How to get rich" businesses work.

Just watch the video and see what I mean. Once again, from the CANADIAN BROADCASTING CORPORATION....Who's getting rich off Rich Dad?

[dorian]

Actually, you mentioned "before I even started college" but didn't say anything about finishing it. So I assumed you were still in college. Anyway...

So, had you read Kiyosaki's book, would you have dropped out of college and--like you said--"saved yourself the money"? And I assume that you funded for your own education, not your parents?

Well, it's good that you've got your degree. You may not think much of it, but it's almost like a basic minimum for ordinary mortals like us. Gates, Jobs, Dell...they're bigger than schools and way ahead in terms of their paradigm and vision. What worked for them won't work for us. Regarding education, my criticism of Kiyosaki is his dangerous thesis that you should not go to school if you want to be rich and happy. People take that thing literally. They'd say to themselves: "I want to be rich and happy, therefore I should not got to school."

Throughout Kiyosaki's book, you will find yourself nodding to a lot of his general statements. But at the end of the book, you're left wondering about the answer to the proverbial $64,000 question. How? In other words, he doesn't tell you anything specific. Like a typical con job, they'll bring you to another one of their products (another book or a training program or seminar) which supposedly cover these things. And that too may well turn out to be sorely lacking in substance. And since you've gone that far already, they figure you might as well take up the "advanced program" which they'll say goes into the highly detailed, technical parts of the subject. That's how these "How to get rich" businesses work.

Just watch the video and see what I mean. Once again, from the CANADIAN BROADCASTING CORPORATION....Who's getting rich off Rich Dad?

I edited my post, I thought you might get that notion that i'm still in college (which you did, sorry late editting). hehe

I paid for almost 1/2 of my college education.

Actually, after reading his book, I decided to earn some accounting units. Up until now I'm still thankful that i did that. I guess it depends on the person who reads the book on how he chooses to be affected. I picked up few things from the book that i believe are very helpful.

[hitch22]

I edited my post, I thought you might get that notion that i'm still in college (which you did, sorry late editting). hehe

I paid for almost 1/2 of my college education.

Actually, after reading his book, I decided to earn some accounting units. Up until now I'm still thankful that i did that. I guess it depends on the person who reads the book on how he chooses to be affected. I picked up few things from the book that i believe are very helpful.

Well, it's like this...you can pick up useful guidelines like GETTING A FINANCIAL EDUCATION, CONSIDERING ENTREPRENEURSHIP AS AN OPTION, etc. Sure, the book drove those general points well. But that is far from being useful. I mean, was it really a big mystery that a successful entrepreneurship would be a more lucrative path than a career of a regular employee? Was it a big mystery that risk and reward move in the same direction (i.e. high risk, high reward and vice versa)? Was it a big mystery that if you were to go into a business, you will need some basic financial education like bookkeeping, inventory management, etc.? Was it a big mystery that selling is the main driver of a company's revenues? Was it a big mystery that spending more than what you earn is a bad idea? No. We knew these things before even reading Kiyosaki's books.

I don't know about you, but I don't really buy books just to be told to get a financial education or general things I already know. I'd rather get the books that deal purely with financial education or marketing, which actually consists of exactly the same things that are covered in a BS Commerce/Accounting or BS Management course. I doubt Kiyosaki's expensive products and overrated books can replace that. College is useless, he says? So he thinks what he offers are superior to college degrees? Nonsense.

But Kiyosaki obviously doesn't stop with just books. Take this thread, for example. You can see the tentacles extending to seminars. Read again what I said in my previous post:

Throughout Kiyosaki's book, you will find yourself nodding to a lot of his general statements. But at the end of the book, you're left wondering about the answer to the proverbial $64,000 question. How? In other words, he doesn't tell you anything specific. Like a typical con job, they'll bring you to another one of their products (another book or a training program or seminar) which supposedly cover these things. And that too may well turn out to be sorely lacking in substance. And since you've gone that far already, they figure you might as well take up the "advanced program" which they'll say goes into the highly detailed, technical parts of the subject. That's how these "How to get rich" businesses work.

But, I'll just ask you a favor: watch the video from the link provided below and tell me what you think.

Canadian Broadcasting Corp.: Who's getting rich off Rich Dad?