If you’re into business or perhaps investing, there’s no way you’ve never heard of the raving influence Rich Dad Poor Dad has on its followers.
Just like everyone else, you also must have started your journey to being financially independent by reading this book (at least I did).
But, should you read rich dad poor dad?
Rich Dad Poor Dad revolves around practical tips and an inspiring fictional story of “Rich Dad” to teach how to acquire unprecedented wealth. However, you can’t read a self-development book when you can’t trust the author in the first place; and the same goes for Rich Dad Poor Dad.
So what makes us so bold in our opinions of a best-selling book that presumably changes thousands of lives? Well, read this, and you would like to.
Why is “Rich Dad Poor Dad” a Scam?
Numerous business enthusiasts consider Kiyosaki as the financial guru who would fix the debt they are drowned in and help them become a millionaire before they know it.
Although the book talks about the practical benefits the author has gained throughout his life, there are a few things that scream scam to me.
No one really knows how he acquired that wealth
In the book, the author claims to be rich before publishing his book Rich Dad Poor Dad. However, according to Forbes, Robert Kiyosaki never had any official documentation that would prove whether he had any wealth if so, the sources of wealth.
This can leave doubt for people to think that the wealth he acquired is merely from his Rich Dad Poor Dad book and the self-developmental courses that he offers to his boo’s followers.
Rich Dad is Fiction
I have to admit, the book was actually filled with inspirational stories and going the extra mile to earn wealth, but what’s the point of reading a nonfiction book that takes fictional characters’ help for people to have followers?
The book specifically claims that there is a rich dad, however according to Smart Money Magazine, there wasn’t.
Preys on His Followers
Kiyosaki started well. He wrote a book, empowered many people, and gave countless classes to help many people achieve their dream.
After his initial success, Robert started preying on his following by overcharging them for his seminars and classes. If you look at the facts and prices of is classes, you can get an immediate idea of what I mean when I say “he preys on his followers” :
Class 1: Free Advice
Class 2: Paid Advice for $495
Class 3: Paid Advice for a whopping $45,000
What makes it worse, class 1 and 2 mainly talks about the benefits and magical results of class 3, which really makes the first classes futile to attend.
His seminars revolve around the “Get Rich Quick” concept
A hidden camera inserted in Koyoski’s 3 class revealed the schemes he used to make people more prosperous. One of the shocking pieces of advice he gave was to increase the credit card limit to $100,000!
In the seminar, he also handed out scripts that people would use to talk to their bankers to increase the credit card limit.
Not just that, he gave time off from the class to let people talk to their bankers on the spot to increase the card limit. This is because he believes that spending in abundance on renovation in home-flipping businesses can only make you richer.
However, experts in the field claimed that his method only promotes impulsive buying and doesn’t help with financial gain.
It doesn’t teach anything that you already don’t know
If you ask me, I read this book after reading its incredible benefits raved by many Instagram accounts for entrepreneurs. When I did finally read, there was nothing that you already didn’t find on the internet.
Likewise, if you invest your time reading the book now, you can’t expect to learn anything new since the foundation of every new motivational business page on social media talks about the same few concepts taught by Robert Kiyosaki.
Is Robert Kiyosaki Really a Millionaire?
As a general rule, if I need advice, I will always seek people who have achieved what I’m aiming for. If you can’t come up with real stories, I’m better off without reading your book.
Reportedly, Kiyosaki has been filed for bankruptcy multiple times in his life, some because of his competitors and some because of not paying royalties for his seminars.
When you’ve gained recognition in the world associated with building wealth, this is definitely not a good sign. not just that; if you look closely at this life, he has barely implemented anything that is said in his motivational book.
His rare public appearance in Vancucour revealed Robert has many complaints and unhappy customers all around the world.
Upon confrontation, Kiyosaki drifted the blame to his business partner and said how sad he is to see people using his “famous author” name to ruin his company’s reputation.
Why Do You Have to Read it Anyway?
However, don’t get me wrong here. I don’t loathe the book or Kiyosaki, for that matter.
However, what I do believe is its overrated image that is blinding many people. Although Kiyosaki doesn’t follow anything he writes, you can get a few impressive takeaways from Rich Dad Poor Dad. Some of the examples include:
The Idea of Buying Assets over Liability
In the book, Robert talks about investing in assets like stocks, bonds, and properties instead of liabilities since purchases are your personal money growing tree that generates unprecedented wealth. In contrast, liability is only a way to get money out of your pocket.
Don’t Wait for the Right Time or Skill
In the book, you will find countless motivational stories and concepts explaining how you shouldn’t put off your plans only because you lack the right skill or time.
In fact, the more you give at this time, the more you receive in the long term. He believes that you need to share what you lack the most in life; if you don’t have enough money, give money; if short in networking, give others information.
Don’t Believe in What Others Say
The road to success is a lonely path. You can find millions of critics degrading you on every step you take in your journey.
The key to going past them lies in educating yourself to not take advice from people who aren’t successful themselves. However, always seek advice from people who are already where you want to be.
It is not surprising that people nowadays passionately read books, but when it comes to implementing the knowledge into action, they claim to lack the right skills.
Kiyosaki encourages people to start taking initiatives and start working towards building a future.
If you don’t like fake stories, read these books similar to “Rich Dad Poor Dad.”
Just like all the books, Rich Dad Poor Dad also has two sides of the opinion. If you aren’t fond of this, many top-level books are packed with unlimited tips and inspirational �real’ stories and advice to help you gain the growth you deserve.
1. Think and Grow Rich
Napoleon Hill’s book talks about planting a firm that believes that you will acquire wealth that you never had before. He encourages people to stay clear cut with their mindsets and convince themselves that they can get unprecedented success in life only by visiting determined to do so.
What makes this book unique from the rest is how the author uses each of its principles to become a millionaire himself.
2. The Money Book for the Young, Fabulous & Broke
It can be hard to read most business books since it mainly covers post-retire techniques, this book has a different approach.
The author and TV star Suze Orman helps young people cope with everyday financial problems, student loans, and other anti-depression advice to help you grow as an entrepreneur and clear off all your debts.
This New York Times bestselling book has prevailed its name to be one of the most trusted and dynamic financial books to help people get the financial freedom they need.
3. The Millionaire FastLane
The author of the book MJ DeMarco ditches the ordinary rules of achieving wealth and takes a relatively fast route to gain success. By that, I don’t mean one of those gets rich quick schemes.
He believes that investing in mutual funds, maximizing your 401k, working hard, and clipping coupons can only make you rich in your wheelchair.
From start to finish the book is centered on increasing the velocity of growth and some ready-to-implement strategies that go in-depth with the topic and help you understand the whys and hows of this industry.
All in all, the best way to gain financial freedom is to educate yourself with the right mayoral. Research thoroughly on how to make more but how you can keep and multiple the money over time.