Robert Kiyosaki on Stock Market and Investment Oppotunity


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If you've been reading this series this week, you've probably noticed a gradual change in tone: I was quite positive about Jim Cramer and Dave Ramsey, pretty positive about Suze Orman, and then yesterday gave a middling review to David Bach. In other words, I started off with the people I had the most confidence in and moved in the direction of people I had less confidence in.

Today, I'm going to write about the one personal finance guru that I actually feel is fraudulent. Even worse, his advice has some very serious flaws to it that can lead people down a very dangerous path. Today, I'm going to discuss the author of one of the most well known personal finance books ever, Rich Dad, Poor Dad: Robert Kiyosaki. It won't be pretty.

It is very difficult to find a clear, reliable background on Robert Kiyosaki, but here's what's easily verifiable about him. He was involved in several business deals (most notably, nylon Velcro wallets) in the 1970s and 1980s which fell apart, leaving him bankrupt in the mid-1980s. In this timeframe, he became heavily involved with Amway, a multi-level marketing system, and began to cultivate relationships with many of the "top" members. In 1985, Kiyosaki founded Cashflow Technologies, a company that was designed to pitch a series of books and other educational materials that eventually evolved into Rich Dad, Poor Dad.

By the mid-1990s, Kiyosaki had self-printed Rich Dad, Poor Dad and it was starting to appear in wide distribution among members of the Amway/Quixtar organization, as individuals higher in the pyramid would recommend it to people further down the chain looking to get ahead. Kiyosaki took these "sales" numbers to major publishing houses and before you know it, Rich Dad showed up on shelves everywhere and spawned an army of similarly-packaged books, board games, and so on.

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