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I. Ioakimidis "Johny b." (Athens, Greece)

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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money
by Robert T. Kiyosaki
Edition: Paperback

44 of 50 people found the following review helpful
1.0 out of 5 stars Nope....It isn't what it pretents to be....., 8 Sept. 2007
I couldn't help but notice the emotional appeal his writings hold, using various motivational, logic-breaking and controversial methods. Being a professional Business and Market Analyst with working experience - among others - in a big multinational corporation, as soon as I finished his book "Rich Dad Poor Dad" I felt that something was TERRIBLY WRONG with his advices. Moreover, I felt like being emotionally manipulated towards a specific role model (that would be the Kiyosaki-style "financial free" individual) as well as a gross disregard of logic and common sense.

One or two personal thoughts about him and his book (RDPD) :

· First of all, the symbolic paternal figure he uses as the main vehicle and base towards his teaching (Rich Dad) is - as he personally stated - maybe (!) fictional. So much for the credibility of a person who asks to shape my personal financial attitude. As history and experience have told us again and again, credibility is the No 1 factor when it comes to economic advices. How can he possibly keep on building when the base upon which he stands is probably based on a lie? How can he deny people a clear explanation about it? Sure, keeping the fairy tale alive makes people more happy, more eager to believe and more sentimentally attached to him, but does it make them better entrepreneurs or investors? I seriously doubt it.

· People may step-up and say that it does not matter whether he lied or not, whether he is technical correct or not, whether he is right or wrong as long as he provides them the motivation they need in order to think for their financial future. That is also EXTREMELY misleading. Being a professional business analyst, I believe that there is MUCH MORE to succeed in a competitive market environment than merely the will to do it. It takes careful and detailed planning and analysis, a calculated approach to risk and a deep understanding of the market in which you compete as well as a strong background in at least basic financial, marketing and sales principles before you even start thinking about entrepreneurship. This can be achieved only with YEARS of experience and related education and CANNOT be taught by any single book or seminar, surely not by the Kiyosaki-like emotional nonsense. And because I can hear the voices screaming "But how can all these entrepreneurs succeed?" my answer is that they had the skills to do it or the LUCK and insight, but the fact remains: the TREMENDOUS majority of starters fail and, if people go by the Kiyoasaki-principles, I fear that the failing percentage is about to climb even hihger.

· When I say that he is misleading, even fraudulent , I mean that he encourages people WITHOUT the necessary skills, background, attitude and experience to seek "financial-freedom", based on EMOTIONAL MANIPULATION. This provides him fame and fortune no doubt, even recognition among economic and other cycles who seek his popularity in order to raise their numbers, but in the end he is just feeding the dream of the average un-educated individual: that one can become quickly rich as long as she wants to. I will not go on in more details about it, there is John Reed page that does just this (just type kiyosaki in any search engine and you'll come across it). I will just point out this: did Kiyosaki got his success by his entrepreneurial skills and the attitude he is trying to sell? MOST PROBABLY NOT. He succeeded by selling hope to others and to you, by lying, by deceiving millions in order to receive millions.
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