3 ms·

I think the guy is one of the biggest intellectual scammers out there. He wrote his famous book when working a normal 8 hour job and was nowhere near being wea

I think the guy is one of the biggest intellectual scammers out there. He wrote his famous book when working a normal 8 hour job and was nowhere near being wealthy. He wasn't a rich dad. Just a normal guy.

raverbashing 3y ago
His ideas probably can be summed up in a couple of paragraphs and 99% of it is the basic stuff that anyone that doesn't torch their credit card every month does. Yes rich dad buys a car within his means, poor dad finances the brand new truck and doesn't know what "9% APR" means but he's happy cause he can "afford it" (not). But since the average financial literacy is very low and several people look for the loudest monkey in the room this guy got successful
- abalashov 3y ago
  This was always my impression every time that former high school classmates-turned-MLM-shysters would hawk his work to me; thank you for confirming it.
- itsoktocry 3y ago
  >His ideas probably can be summed up in a couple of paragraphs and 99% of it is the basic stuff that anyone that doesn't torch their credit card every month does. This book was written in the 90s. It was a totally different information landscape. It's easy to look at it now and say the content is obvious. I read it when I was young, along with school friends who were also burgeoning "masters of the universe" (ie interested in being "rich"). I think it had some great lessons. That said, the guy obviously turned into a "scammer", thanks in part to the success of his book. He wrote a book with Trump, for crying out loud.
deleted 3y ago
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aaron695 3y ago
[dead]
throwaway66201 3y ago
That famous book doesn't claim anything about his wealth, though. It's about his somewhat editorialized childhood/adolescence experience with two adults - his own father and a mentor - and the difference in their behavior and outcomes.
- epolanski 3y ago
  My point is that I find it intellectually dishonest that a person goes on preaching millions of people on stuff he himself never practiced. The book content was okay albeit much longer than needed.
  - throwaway66201 3y ago
    I think he does and did practice the things from the book. I don't know about anything later than the book, though.
    - red-iron-pine 3y ago
      hard to take his points credibly when 1) he wasn't doing that at the time, and 2) he's been broke af for a while now.
tim333 3y ago
I've spent a while pondering his stuff and have come the conclusion that he's not that sammerish although you have to take some of the stuff he says with a pinch of salt. He didn't claim to be rich when writing the book. It was about his actual dad who didn't make much money and his friends dad who did. I thought maybe he'd made Rich Dad up but he turned out to be a real person and financially successful if a bit of an arsehole. (Interview about that https://youtu.be/CRq6sjpo9iU https://youtu.be/CRq6sjpo9iU). The having a lot of debt thing is actually a smart strategy. If you buy a house for cash and hold it for 20 years your net worth is one house. If you buy 100 with debt and hold for 20 years your net worth is about 50 houses because inflation has worn the debt down. That's how property people get rich.

raverbashing 3y ago

His ideas probably can be summed up in a couple of paragraphs and 99% of it is the basic stuff that anyone that doesn't torch their credit card every month does. Yes rich dad buys a car within his means, poor dad finances the brand new truck and doesn't know what "9% APR" means but he's happy cause he can "afford it" (not). But since the average financial literacy is very low and several people look for the loudest monkey in the room this guy got successful

abalashov 3y ago
This was always my impression every time that former high school classmates-turned-MLM-shysters would hawk his work to me; thank you for confirming it.
itsoktocry 3y ago
>His ideas probably can be summed up in a couple of paragraphs and 99% of it is the basic stuff that anyone that doesn't torch their credit card every month does. This book was written in the 90s. It was a totally different information landscape. It's easy to look at it now and say the content is obvious. I read it when I was young, along with school friends who were also burgeoning "masters of the universe" (ie interested in being "rich"). I think it had some great lessons. That said, the guy obviously turned into a "scammer", thanks in part to the success of his book. He wrote a book with Trump, for crying out loud.

deleted 3y ago

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aaron695 3y ago

[dead]

throwaway66201 3y ago

That famous book doesn't claim anything about his wealth, though. It's about his somewhat editorialized childhood/adolescence experience with two adults - his own father and a mentor - and the difference in their behavior and outcomes.

epolanski 3y ago
My point is that I find it intellectually dishonest that a person goes on preaching millions of people on stuff he himself never practiced. The book content was okay albeit much longer than needed.
- throwaway66201 3y ago
  I think he does and did practice the things from the book. I don't know about anything later than the book, though.
  - red-iron-pine 3y ago
    hard to take his points credibly when 1) he wasn't doing that at the time, and 2) he's been broke af for a while now.

tim333 3y ago

I've spent a while pondering his stuff and have come the conclusion that he's not that sammerish although you have to take some of the stuff he says with a pinch of salt. He didn't claim to be rich when writing the book. It was about his actual dad who didn't make much money and his friends dad who did. I thought maybe he'd made Rich Dad up but he turned out to be a real person and financially successful if a bit of an arsehole. (Interview about that https://youtu.be/CRq6sjpo9iU https://youtu.be/CRq6sjpo9iU). The having a lot of debt thing is actually a smart strategy. If you buy a house for cash and hold it for 20 years your net worth is one house. If you buy 100 with debt and hold for 20 years your net worth is about 50 houses because inflation has worn the debt down. That's how property people get rich.