Monday, June 16, 2008

Is Robert T. Kiyosaki a scam artist?

The author of Rich Dad Poor Dad, Robert T. Kiyosaki, is quite the polarizing figure. He's like a Clinton you either love him or hate him there doesn't seem to be any middle ground. I've seen him catch a lot of flack on-line. He's been called a con-artist and scammer. Are these things true? Has he really done the things that he claimed or is it all fiction? I'm not here to discern the truths on this matter. Instead I will pose a question that I find to be more important. Does it really matter if the story is true or fictional?
My answer is a big NO! Here is my reasoning. First of all I find the Rich Dad series to be entertaining. A friend of mine came up to me and said" I've never read a full book before that wasn't for school. This is the first time I read a book from cover to cover and I enjoyed. Now I know what I want to do." This alone gives value in my opinion, that person went on to take action. Take action is one of prime tenets Robert preaches. By the way that individual owns about a dozen rental properties. One of which is a shore property in Wild Wood N.J. When he started out he didn't know anything about real estate, but while taking action he began getting educated. He began by gathering people around him who knew what he needed to know- a real estate agent/investor(his mentor), a banker to handle financing, and a account to get the most out of his real estate company. Business is a team sport. This is another one Robert's tenets. This friend of mine I consider pretty smart he graduated from Rutgers with a B.A. in chemistry. He didn't come from money, actually grew up in my neighborhood(if you are interested in what that means read about me.). He put himself through school roofing.
So that is at least one success story inspired by Robert Kiyosaki that I personally know of. Another point I 'd like to make is that the Rich Dad series is very motivational. Even if it is only mildly educational. But if you know nothing it is at least a start. If it read like a text book I personally wouldn't of read two pages. They keep me interested, motivated, and entertained. Which drove me seek out more in-depth sources of information and a mentor in the Field of which I'm seeking to master(and no I'm not paying for that mentoring).
I believe paid mentoring is a scam Robert is accused of. I don't really know if it is or not. I guess it is worth whatever you get out of it. Before paying someone to mentor you do your do diligence. Make sure you read and understand any contract you enter before committing to it. Do diligence is actually another one of Robert's tenets. Actually it seems to me if Robert is running some kind of mentoring scam all you'd have to do to avoid it would be listen to the advice given in his Rich Dad series. Personally I agree with him you need a mentor if your embarking on a new endeavor, though I'm not so sure you really need to pay to get one. I believe in his books he makes suggestions on how to find these kinds of people.
So to wrap this up scams or no scams, true or fictional, it is whatever you make of it. My advice don't get bogged down in the hype good or bad. Rich Dad actually has a lot to teach. Robert is a superb salesman. He excels at self promotion. There is definitely something to be learned about marketing from him. O and these three things I didn't get buy reading or buying his books, just observing what Robert and his company does. Another observation at least some of the people criticizing him are promoting some service, product, or themselves. So maybe they have taking a page out of Rich Dads book.

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