Is Robert Kiyosaki a complete fraud?
Does he really know what he is talking about?
(Listen to audio version of me reading👆)
I have had the pleasure to watch Robert Kiyosaki for thousands of hours and read all of his books multiple times.
To truly understand someone you must get into their brain and intimately know them. Although I’ve never had the fortune to meet him (yet) someday I hopefully will.
His timeless principles have made me a lot of money over the last 15 years. And this is the most important word; principles.
Robert Kiyosaki operates off of natural law and first principles.
He doesn’t have to “time” markets to the day or have every single fact in order to be directionally correct. Most people are looking for shortcuts and easy answers in life, let’s face it we’re all human, and the hot stock tip is much more exciting than putting in the long hours of studying and hard work.
Kiyosaki doesn’t tell you what to do, instead he expands your context and tells you where to look and challenges your beliefs and assumptions.
Again, his worldview has made him a very wealthy man over time. If you want to go somewhere, find the people that have been there and study them intensely.
There has been a trend over the last handful of years to make fun of this man and call him “chicken little” and that he’s always calling for the world to come to an end.
Most people think that he means the world is coming to an end tomorrow, and sometimes he says things that allude to that because he is a great marketer and trying to wake people from their stupor. What gets lost in some of the noise is the truth and how he operates. His main lesson comes from his book Rich Dad Poor Dad, which is the “rich don’t work for money.”
Why is that?
Because the currency, the dollar, stopped being money in 1971. And he uttered his famous line which is “savers are losers.” He said this for two reasons:
If you literally save dollars, they are a liability on your balance sheet owed back to the federal reserve so you actually get physically poorer overtime.
If you also sit back and do nothing and learn nothing, then you have a loser mindset. It’s a brilliant play on words that he has perfected over the years.
Please do not pay heed to people who aren’t where you want to be. Everyone making fun of Kiyosaki the last few years wishes they had a fraction of what he owns and a slice of his intelligence.
He has said many times that his job is not to tell people exactly what to do and hold your hand. It is again to shift one’s context, so that they, feel the excitement of the unknown and want to go take the initiative to learn themselves.
This is the sign of a great teacher.
Also explains why his book Rich Dad Poor Dad is the number one selling personal investment finance book of all time still to this day 27 years later.
Something that didn’t hold true to timeless principles wouldn’t be able to exist that long. Things that aren’t true generally fizzle out quickly.
Be careful your mentors. Time always tells.
Takeaways:
Timeframe - He’s long term thinker.
He’s patient and doesn’t need cash right now.
Most people want hot stock tips.
Stay strong,