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Any book list that includes Rich Dad, Poor Dad needs a giant asterisk emblazoned on it. “Rich Dad” was made up. He does not exist. The author lied about that a

Any book list that includes Rich Dad, Poor Dad needs a giant asterisk emblazoned on it. “Rich Dad” was made up. He does not exist. The author lied about that as well as his own financial acumen - he makes his money from $45,000 seminars promising riches and seldom, if ever, delivering. Oh, and his company filed for bankruptcy last month.

HNLurker2 7y ago
It's more about the mindset... But yeah he wrote a book that's all... Rest is fishy
- alasdair_ 7y ago
  His book is very carefully designed to push you towards buying his other books, then maybe a course or two, then... It’s always the next book or course that promises actual concrete answers. It’s not quite at the level of Scientology materials but it’s in the same vein.
  - submeta 7y ago
    Same with other self-help authors, isn‘t it? Take Brian Tracy (not saying he is a charlatan!). Superficially repeating same ideas over and over again, publishing half a dozen books a year with the same ideas.
  - TheOtherHobbes 7y ago
    It's very consciously engineered to work like that. These books and courses are crass but effective marketing funnels, designed to select those who will continue to pay increasingly improbable sums for access to increasingly "exclusive" information.
carlmr 7y ago
Had the same reaction.
candeira 7y ago
Huge red flag also for Robert Greene.
- nefitty 7y ago
  Why?
  - candeira 7y ago
    As https://news.ycombinator.com/item?id=21751079 https://news.ycombinator.com/item?id=21751079 said: > And Greene's 48 Laws of Power is practically a manual of sociopathy.
- trianglem 7y ago
  Why? I love his books.
  - EliRivers 7y ago
    I've read a couple; they come across as engagingly written "just so" stories, lacking research or evidence. Fun to read and fun to think about, but that's all - a bit of fun. Which is by no means a bad thing; there's a lot to be said for reading a fun book and thinking about it.
    - gozzoo 7y ago
      I don't see how that's differnt from Malcolm Gladwell's books. Yes when we read them the ideas feal on the border of speculation, but they are interesting, they help us stretch our minds and see things from differnt perspective. Even when we disagree with some conclusions, this help us define our own understanding on the prbolems discussed. BTW some of Paul Graham's essays have the similar impact on me, sometimes I don't agree with his way of thinking, but still find them very insightful.
      - TheOtherHobbes 7y ago
        It isn't different to Malcolm Gladwell's books. And Greene's 48 Laws of Power is practically a manual of sociopathy.
WA 7y ago
Yeah, read this for a more thourough criticism of everything that's wrong with Rich Dad Poor Dad: https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1 https://johntreed.com/blogs/john-t-reed-s-real-estate-invest... However, one thing that is actually valuable from the book: The cash flow for rich people vs. everybody else. The idea is to own assets that generate cash. This cash (and only this) should be used to buy luxury stuff. But of course, you don't need a whole book for this idea. * I add another "red flag" for such a list: "The Richest Man in Babylon". This is easily the most overrated book I have ever read. There is only one idea in the entire book and stretched over 100 pages or so: Reinvest 10% of your income. That's it. There is literally nothing else in this book. There are like 5 stories or so set in a middle-age arabian setting or whatever about people who do exactly this. Invest 10% of their income, favorably in stuff they understand. It doesn't go any deeper, nothing concrete, nothing helpful.
- zabana 7y ago
  > That's it. There is literally nothing else in this book. There are like 5 stories or so set in a middle-age arabian setting or whatever about people who do exactly this. Invest 10% of their income, favorably in stuff they understand. Unfortunately, you'd be surprised at the sheer number of people for whom this isn't common sense and need to read this.
  - philbarr 7y ago
    I think I must be one of those people. I wouldn't even know where to start to "invest 10% of my income favourably in stuff I understand." What does that mean? Examples?
    - gambiting 7y ago
      Yeah, same. I'm in a position where I could easily put aside 10% of my income for something, but what does it even mean to "invest 10%"?? Like, into what? Where? Through whom?
vertigolimbo 7y ago
As someone who had little investment knowledge acumen "Cashflow Quadrant" was an eye opener and game changer. It was the only book from Kiyosaki that I read and it was sufficient for me to look at the world differently. It doesn't give you any answers but, if you are willing, it will set in you in a different mindset that will help to approach your financial decisions from different perspective. Either this book or "Fastlane Millionaire" by MJ DeMarco.
anovikov 7y ago
Well, the ideas outlined there were very worthwhile... for 1970's USA. Have no relation to reality nowadays. Tax system and interest rates are totally different.
- rolltiide 7y ago
  What do you mean? Just let your savings compound for 60 years so you can get an extra tennis ball for your walker! Its so powerful!
robtherobber 7y ago
I would add that any book list that includes a Russell Brand product is bound to be a controversial list - and not in the intellectual sense. I am not quite sure what is he famous for, but I've seen him on TV more than I wanted to and he doesn't seem like a guy you want to take advice from.
- alasdair_ 7y ago
  He is a British comedian and was in a few movies. His book is about drug addiction and he is a former addict. Seems like the right sort of person to write the book.
- gnabgib 7y ago
  I thought the same until he came and did a comic show/talk about addiction (for a local charity). He is incredibly bright, very interesting to listen to, a great story teller, far from full of himself, and yeah.. he's a great comedian (him being typecast as a drunk/high idiot in mainstream movies didn't do him justice.. he's been sober 17 years) show/talk about addiction (for a local charity).
sbmthakur 7y ago
Last year I came across a person who tried to recruit me in a local MLM network. The person recommended me Robert's other book to prepare me.
Nursie 7y ago
Hehe. Sounds a lot like those "we retired at 30!" folks you hear about every so often. No, you didn't, you put away enough to enable you to make a career switch to lifestyle-blogging and speech-giving, which you're making a ton of cash with. It's great you found a way to do what you enjoy, but it's not retirement, you're still working for money.
- fastbeef 7y ago
  That's the most succinct and to-the-point way I've ever seen of expressing my annoyance with that crowd. Thank you, stranger on the internet! <3
rolltiide 7y ago
that doesn’t make the accuracy less
loco5niner 7y ago
> Oh, and his company filed for bankruptcy last month. Again?!?

HNLurker2 7y ago

It's more about the mindset... But yeah he wrote a book that's all... Rest is fishy

alasdair_ 7y ago
His book is very carefully designed to push you towards buying his other books, then maybe a course or two, then... It’s always the next book or course that promises actual concrete answers. It’s not quite at the level of Scientology materials but it’s in the same vein.
- submeta 7y ago
  Same with other self-help authors, isn‘t it? Take Brian Tracy (not saying he is a charlatan!). Superficially repeating same ideas over and over again, publishing half a dozen books a year with the same ideas.
- TheOtherHobbes 7y ago
  It's very consciously engineered to work like that. These books and courses are crass but effective marketing funnels, designed to select those who will continue to pay increasingly improbable sums for access to increasingly "exclusive" information.

carlmr 7y ago

Had the same reaction.

candeira 7y ago

Huge red flag also for Robert Greene.

nefitty 7y ago
Why?
- candeira 7y ago
  As https://news.ycombinator.com/item?id=21751079 https://news.ycombinator.com/item?id=21751079 said: > And Greene's 48 Laws of Power is practically a manual of sociopathy.
trianglem 7y ago
Why? I love his books.
- EliRivers 7y ago
  I've read a couple; they come across as engagingly written "just so" stories, lacking research or evidence. Fun to read and fun to think about, but that's all - a bit of fun. Which is by no means a bad thing; there's a lot to be said for reading a fun book and thinking about it.
  - gozzoo 7y ago
    I don't see how that's differnt from Malcolm Gladwell's books. Yes when we read them the ideas feal on the border of speculation, but they are interesting, they help us stretch our minds and see things from differnt perspective. Even when we disagree with some conclusions, this help us define our own understanding on the prbolems discussed. BTW some of Paul Graham's essays have the similar impact on me, sometimes I don't agree with his way of thinking, but still find them very insightful.
    - TheOtherHobbes 7y ago
      It isn't different to Malcolm Gladwell's books. And Greene's 48 Laws of Power is practically a manual of sociopathy.

WA 7y ago

Yeah, read this for a more thourough criticism of everything that's wrong with Rich Dad Poor Dad: https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1 https://johntreed.com/blogs/john-t-reed-s-real-estate-invest... However, one thing that is actually valuable from the book: The cash flow for rich people vs. everybody else. The idea is to own assets that generate cash. This cash (and only this) should be used to buy luxury stuff. But of course, you don't need a whole book for this idea. * I add another "red flag" for such a list: "The Richest Man in Babylon". This is easily the most overrated book I have ever read. There is only one idea in the entire book and stretched over 100 pages or so: Reinvest 10% of your income. That's it. There is literally nothing else in this book. There are like 5 stories or so set in a middle-age arabian setting or whatever about people who do exactly this. Invest 10% of their income, favorably in stuff they understand. It doesn't go any deeper, nothing concrete, nothing helpful.

zabana 7y ago
> That's it. There is literally nothing else in this book. There are like 5 stories or so set in a middle-age arabian setting or whatever about people who do exactly this. Invest 10% of their income, favorably in stuff they understand. Unfortunately, you'd be surprised at the sheer number of people for whom this isn't common sense and need to read this.
- philbarr 7y ago
  I think I must be one of those people. I wouldn't even know where to start to "invest 10% of my income favourably in stuff I understand." What does that mean? Examples?
  - gambiting 7y ago
    Yeah, same. I'm in a position where I could easily put aside 10% of my income for something, but what does it even mean to "invest 10%"?? Like, into what? Where? Through whom?

vertigolimbo 7y ago

As someone who had little investment knowledge acumen "Cashflow Quadrant" was an eye opener and game changer. It was the only book from Kiyosaki that I read and it was sufficient for me to look at the world differently. It doesn't give you any answers but, if you are willing, it will set in you in a different mindset that will help to approach your financial decisions from different perspective. Either this book or "Fastlane Millionaire" by MJ DeMarco.

anovikov 7y ago

Well, the ideas outlined there were very worthwhile... for 1970's USA. Have no relation to reality nowadays. Tax system and interest rates are totally different.

rolltiide 7y ago
What do you mean? Just let your savings compound for 60 years so you can get an extra tennis ball for your walker! Its so powerful!

robtherobber 7y ago

I would add that any book list that includes a Russell Brand product is bound to be a controversial list - and not in the intellectual sense. I am not quite sure what is he famous for, but I've seen him on TV more than I wanted to and he doesn't seem like a guy you want to take advice from.

alasdair_ 7y ago
He is a British comedian and was in a few movies. His book is about drug addiction and he is a former addict. Seems like the right sort of person to write the book.
gnabgib 7y ago
I thought the same until he came and did a comic show/talk about addiction (for a local charity). He is incredibly bright, very interesting to listen to, a great story teller, far from full of himself, and yeah.. he's a great comedian (him being typecast as a drunk/high idiot in mainstream movies didn't do him justice.. he's been sober 17 years) show/talk about addiction (for a local charity).

sbmthakur 7y ago

Last year I came across a person who tried to recruit me in a local MLM network. The person recommended me Robert's other book to prepare me.

Nursie 7y ago

Hehe. Sounds a lot like those "we retired at 30!" folks you hear about every so often. No, you didn't, you put away enough to enable you to make a career switch to lifestyle-blogging and speech-giving, which you're making a ton of cash with. It's great you found a way to do what you enjoy, but it's not retirement, you're still working for money.

fastbeef 7y ago
That's the most succinct and to-the-point way I've ever seen of expressing my annoyance with that crowd. Thank you, stranger on the internet! <3

rolltiide 7y ago

that doesn’t make the accuracy less

loco5niner 7y ago

> Oh, and his company filed for bankruptcy last month. Again?!?