Robert T. Kiyosaki
July 22, 2011 1 Comment
If being wealthy is important and you are on the look out for reading material to help you make money, sooner rather than later you are bound to come across books of the Rich Dad Poor Dad series authored/co-authored by Robert Kiyosaki and his associates.
Robert Kiyosaki,his books and educational materials are pretty controversial.He has his fans and his trenchant critics.
Personally,I feel he has something good to offer beginners.Early on my journey to making money he gave me new ways to think about personal finance,business and investing.
I can’t say I quite hold with everything he says especially with his views on gearing/leverage.I am more comfortable with the Pabrai idea of structuring businesses so that I can enjoy all the benefits of leverage with none of it’s risks.
I also have to note that much of the criticism of the man’s works comes from his peculiar use of language.He has his own way of defining words commonly found in economics, business, finance,investing and accounting.If a reader is careful to understand these words in the same way as Kiyosaki meant them then they are bound to find the books a good way to start thinking about money.
With the Rich Dad series it’s a good idea to be selective about the titles one reads as the material is often repetitive.The best reads are Rich Dad Poor Dad and the Cash Flow Quadrant.
In none of his books will Kiyosaki give you a step by step guide of how to do anything.So if he advises buying foreclosed properties he will not tell you how to do it.This has been a major grouse of his critics.Personally I have never found this to be a big problem.Once his books pointed me out in the right direction and gave me some general concepts,I have been able to find out the details myself.So If your are like, me do give the man a chance.
Following is a series of videos where Kiyosaki outlines some of his basic insights and I heartily recommend them to you.Even if you don’t read his books or play his cashflow games.Do make the time to watch these videos.