Robert Kiyosaki

Jason76

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The real estate guru Robert Kiyosaki, and mirror image of Donald Trump in a lot of ways, sort of claims people who go get an education and work for a paycheck are usually not seeking thier max potential. He claims people should study how to make money work for them, rather than simply work for money. Is this a wise way of thinking? What might be some criticism of this type of thinking?

https://en.wikipedia.org/wiki/Robert_Kiyosaki

Here is a highly critical link:

http://johntreed.com/blogs/john-t-r...ert-t-kiyosakis-book-rich-dad-poor-dad-part-1
 
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True, a lot of people simply don't have the startup capital to play games until they finally win. It's not like they're practicing basketball. We are talking about a lot of cash. However, if you got money to play the game, then his advice is great. Well, not always, his advice on mutual funds is misleading because according to an article I read, if you search for funds with low yearly costs or none at all, then your more likely to profit.
 
True, a lot of people simply don't have the startup capital to play games until they finally win. It's not like they're practicing basketball. We are talking about a lot of cash. However, if you got money to play the game, then his advice is great. Well, not always, his advice on mutual funds is misleading because according to an article I read, if you search for funds with low yearly costs or none at all, then your more likely to profit.
Well, things do change.
Anyone can invest. You start small of course but with due diligence and a little luck you watched up.
 
In the US, roughly half of parental income advantages are passed onto the next generation in the form of higher earnings. This Japanese-American entrepreneur is not especially smart or talented as he dropped out of the University of Hawaii and his inherited wealth mattered most in his business success (i.e. His dad was a millionaire). He also advises us to trade stock based on non-public inside information, which makes me think that he is not a descent guy.

Scads of reports have documented how parents’ income dictates how financially successful someone will go on to be. But this report suggests the effects are at the high end of previous estimates. “One might think we’d have nailed it by now, but there was some uncertainty,” says David Grusky, the director of Stanford’s Center on Poverty and Inequality and an author of the report. Grusky and Pablo Mitnik, his co-author and colleague at the Center on Poverty and Inequality, use a new data set provided to them by the IRS to show that in the U.S., roughly half of parental income advantages are passed onto the next generation in the form of higher earnings. This proportion increases for the wealthier: For people whose parents are between the 50th and 90th percentiles of earners, about two-thirds of this parental edge is perpetuated. (It’s also worth noting that two-thirds of 90th-percentile earnings is substantially more money than two-thirds of 50th-percentile earnings.)
http://www.theatlantic.com/business/archive/2015/07/america-social-mobility-parents-income/399311/
 
He also advises us to trade stock based on non-public inside information, which makes me think that he is not a descent guy.

Charlie Sheen's character on Wall Street went to prison for insider trading.


This Japanese-American entrepreneur is not especially smart or talented as he dropped out of the University of Hawaii and his inherited wealth mattered most in his business success

He admits in the book he's a C student. Nonetheless he is good at selling things, planning a business, and writing. I'm wondering though what he majored in. If he had majored in business, perhaps he would have gotten As and Bs.
 
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Rich Dad Poor Dad: What the Rich Teach Their Kids About Money-That the Poor and the Middle Class Do Not!


The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way.


If you want to go somewhere, it is best to find someone who has already been there.

When people are lame, they love to blame

  • “Life pushes all of us around. Some give up. Others fight. A few learn the lesson and move on. They welcome life pushing them around. To these few people, it means they need and want to learn something. They learn and move on. Most quit, and a few like you fight.”
 
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