I watched this video but I’ve been reading more and more about people being critical on the Rich dad.
It was suggested for me. I skipped it because every successful real estate investor I’ve ever known, or known of, was in debt. The more successful the investor, the greater the debt. Kiyosaki spells out exactly why this is.
So if that’s what the video is going to lead with, I immediately suspect it to be a haterade infused waste of time. If you yourself want to raise any valid criticisms, go for it, but let’s not waste time on things that any financially sophisticated person instantly dismisses.
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I understand leveraging debt but that works better if you got in earlier. At some point this isn’t a good idea.
Watch the video. He also talks about the costs of the classes
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IDK what he is.
All I know is that I know a BJJ black belt that has his own school left that business and started following kiyosaki. He went to all these seminars, and ended up selling his school. Now he is an "entrepreneur " , always selling the next big thing. Last I heard, he was selling solar panels.
He’s always trying to get former students to go in on his latest sure thing , money making “venture”.
Take from that what you will.
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i saw him flipping out and swearing at a woman on stage at one of his shows. then kind of turning on the crowd if i’m remembering right. seems like a strange guy.
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We could critique Kiyosaki, we could critique Buffet, and we could critique the guy making the video. Actually, in a private e-mail I sent recently I did critique Buffet.
Buffet tells you not to buy gold or silver, yet Buffet has made piles of money buying and selling silver. Buffet tells you not to cash out your stock to time the market, yet Buffet just cashed out a huge amount of Apple stock to time the market.
Buffet tells you that hedge funds suck, and that they can’t beat the market. Yet he started out running a partnership that looked a lot like a hedge fund. And the only years where he had really amazing returns were when he was running that hedge fund. Since Berkshire became a giant conglomerate, it’s ROI has not been great, yet Buffet attracts investors based on his old reputation.
I used to own BRK.B shares before they did the railroad split, and I’d read all the mailings to shareholders.
Likewise I read Kiyosaki’s book, and I purchased his board game, which was overpriced and you could only buy through his MLM (Multi Level Marketing) scheme. The stuff this guy says I believe is true.
I knew a real estate investor who lost giant piles of money during the 2008 crash and subsequent real estate bear market. He wouldn’t have had those piles of money to start with if he wasn’t using OPM (Other People’s Money). What he had leftover after avoiding bankruptcy was more than most people will save in a lifetime.
Buffet wouldn’t be a billionaire without OPM. Who is worse, Buffet of Kiyosaki?
The guy making the video is right that he’ll never be destitute doing what he does. He’ll also never have to worry about his children living off their trust funds and crashing the Lambo at the country club.
Don’t just listen to one financial guru. Listen to like a dozen of them, and be critical of what they tell you.
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The whole idea of RE investing is to use other peoples money (the banks)
To buy your asset.
These people (trump included ) believe leveraging is the way to build your wealth faster. And it is.
But when it goes wrong it really fails
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He looks like he’d be too slow to catch any of us. I’d be more scared of the Asian guy. Maybe he knows martial arts.
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This feels a little like home
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I think you’d be surprised
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Don’t dox me! Japanese hold grudges and he might send a Ninja to kill me
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Probably a guy that is underwater in his real estate portfolio
Should use someone else’s money to buy some socks
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When I was like 15 I read Rich Dad Poor Dad and got pumped up I was gonna get rich! Only I reached the end and had no practical advice on how to get started. It seems the actual techniqes would be in his other book. So I started reading that, only to learn the actual practical technical advice would be in another book. Needless to say, I am not a rich man today.
That fuckin fat beta Hawiian is a scam artist.
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You don’t own brk. B anymore?
It’s been a great investment for me.
We hold brk. A stock as well. Got that when it was $88k.
Time in the market. Not timing the market
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Wearing leather shoes that don’t use laces and no socks is a way that gays signal to other gays.
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this guy taught me that i only owned liabilities and no assets. so of course i did the only logical thing and went hard in the crypto market. now i own nearly half a bitcoin. proofs in the pudding.
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I’ve learned to be critical of anyone offering advice who happens to be selling something. I read Rich Dad, Poor Dad when I was young. There were a few things of value to me, namely conditioning yourself to believe that you could be wealthy. Learning to view money and real estate in a different way. I’m not a fan of the debt your way to success model though, so I didn’t go that route.
Thankfully, I did recognize that he never actually taught any skills or techniques in the book so I stopped short of getting his MLM Monopoly.
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yeah i’m suspect too. these days there’s coaching programs for coaches. as in coaches for coaches. everyone is selling advice on how to be rich. but the way they’re getting rich is selling hope to others. not by actually doing the shit they claim will get you rich.
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