MSEZA MKULU
JF-Expert Member
- Jul 22, 2011
- 3,877
- 5,878
KATIKA PITA PITA HUKU NA KULE MTANDAONI, NIMEKUTANA NA HABARI KUCHALLENGE VITABU VYA HUYU MTU MASHUURI KWA KUHAMASISHA MAENDELEO YA MTU BINAFSI NA UHURU WA KIFEDHA (FINANCIAL FREEDOM). LENGO LANGU SI KUWAKWAZA WAPENZI WA VITABU VYA AINA HII MAANA KIUKWELI HATA MIMI VIMENISAIDIA. LENGI NI KWAMBA NI VIZURI KUANGALIA VINAVYOWEZEKANA KWA KWAKO NA VISIVYO WORK KTK MAZINGIRA IULIONAYO UNAACHANA NAVYO. TUEPUKE KUFANYA VITABU HIVI KAMA MSAAFU AU BIBLIA. AHSANTENI.
[h=2]Why Robert Kiyosaki is Dangerous[/h]The danger isnt in reading his books, IF you can separate the good advice from the bad. The problem is in reading his books and then falling for his get rich quick schemes, or as he may call them secrets. His secrets involve using massive debt as investment leverage. You know the use other peoples money to make money lie. That is a dangerous approach to managing money, and one that can show you the fast track to bankruptcy and fast.
His good debt bad debt philosophy is not as harmful if you are using that advice to buy a home. Although, I adamantly encourage the 100% down plan, if you are using it to buy the home you want to live in you will probably be fine. This is assuming of course that you have taken some necessary steps beforehand. Like having an emergency fund of six months of expenses, have an additional 20% saved up for a down payment to avoid paying PMI, and buy within your means. (Its not a bad idea to get a 15 year mortgage instead of a 30 either.)
BUT, when you take his advice on using debt to invest in real estate for example, you are doing more harm to yourself than good. There are not many investors with the financial know how to be able to pull this off, and the reason why is because they can never predict the future. When you try to predict the future and then sign your name on the dotted line to do so, you are risking everything. It may seem like a great idea to invest using other peoples money, but the ones telling you to do so are likely trying to suck you into their secrets revealed box set or in this case a $45,000 seminar.
I dont care who you are, your financial advice is not worth $45,000 dollars. In my book, the name Robert Kiyosaki has become a definite RED FLAG! In the end, Mr. Kiyosaki is ONLY interested in making as much money as he can, not helping others become wealthy. I do not believe he cares about you or your future.
I listen to and follow the advice of people who care about where I end up. I personally believe that there are far too many legitimate personal finance authors and bloggers out there that really want to help you, to even recommend reading one of Robert Kiyosakis books. There might be some good morsels in them, but youd be better off getting your financial advice from someone who cares about the people they claim to be helping.
OTHER CRITICS ON HIM.[h=2][/h][h=3]Some disturbing complaints about RDPD[/h]Rich Dad Investigative Report CBC
John T. Reeds View (comprehensive notes)
Complaints Board
Review by I Will Teach You To Be Rich
Rip-off Report
Criticism noted on Wikipedia
Is Robert Kiyosaki a Fraud?
Deconstructing Robert Kiyosaki
Review: Rich Dad Poor Dad
Wall Street Journal article
[h=2]Why Robert Kiyosaki is Dangerous[/h]The danger isnt in reading his books, IF you can separate the good advice from the bad. The problem is in reading his books and then falling for his get rich quick schemes, or as he may call them secrets. His secrets involve using massive debt as investment leverage. You know the use other peoples money to make money lie. That is a dangerous approach to managing money, and one that can show you the fast track to bankruptcy and fast.
His good debt bad debt philosophy is not as harmful if you are using that advice to buy a home. Although, I adamantly encourage the 100% down plan, if you are using it to buy the home you want to live in you will probably be fine. This is assuming of course that you have taken some necessary steps beforehand. Like having an emergency fund of six months of expenses, have an additional 20% saved up for a down payment to avoid paying PMI, and buy within your means. (Its not a bad idea to get a 15 year mortgage instead of a 30 either.)
BUT, when you take his advice on using debt to invest in real estate for example, you are doing more harm to yourself than good. There are not many investors with the financial know how to be able to pull this off, and the reason why is because they can never predict the future. When you try to predict the future and then sign your name on the dotted line to do so, you are risking everything. It may seem like a great idea to invest using other peoples money, but the ones telling you to do so are likely trying to suck you into their secrets revealed box set or in this case a $45,000 seminar.
I dont care who you are, your financial advice is not worth $45,000 dollars. In my book, the name Robert Kiyosaki has become a definite RED FLAG! In the end, Mr. Kiyosaki is ONLY interested in making as much money as he can, not helping others become wealthy. I do not believe he cares about you or your future.
I listen to and follow the advice of people who care about where I end up. I personally believe that there are far too many legitimate personal finance authors and bloggers out there that really want to help you, to even recommend reading one of Robert Kiyosakis books. There might be some good morsels in them, but youd be better off getting your financial advice from someone who cares about the people they claim to be helping.
OTHER CRITICS ON HIM.[h=2][/h][h=3]Some disturbing complaints about RDPD[/h]Rich Dad Investigative Report CBC
John T. Reeds View (comprehensive notes)
Complaints Board
Review by I Will Teach You To Be Rich
Rip-off Report
Criticism noted on Wikipedia
Is Robert Kiyosaki a Fraud?
Deconstructing Robert Kiyosaki
Review: Rich Dad Poor Dad
Wall Street Journal article