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newbomb
02-20-2005, 06:28 PM
About a year ago I read a book by Robert Kiyosaki called "Rich Dad Poor Dad". It's basically about growing wealth and living happier. I started to reread the passages I had highlighted the first time today. I will be going out on my own as a solo operator this year and I found it very motivational to reread his views on wealth and independence. There is much good general advice on growing wealth and making time to live and be happy. He is very much of the opinion that wealth and freedom are built by enteprenuers and not time clock punchers. He also offers his opinions on what it takes to be a success in business and why so many fail.

I was wondering who here is familiar with this book? If so how do you apply his ideas to this business?

-Paul

Toy2
02-20-2005, 06:38 PM
I would watch what you read, my ex-boss grew his business (car parts)from 4 people to 35 people in 5 years, $8000.00 in sales the first year to 10mil last year, is he happy, heck no, he is into watching the Apprentice and trying to apply TV to reality, his wife is busy watching Desperate Housewives.

Would I trade my life for his, Hell no!

Go with your heart and you will succeed! :D

LHlandscaping
02-20-2005, 08:10 PM
I find that money does make me happy. If you agree with me I'm sure that you'll find Kiyosaki refreshing. My wife and I are currently enrolled in the Rich Dad coaching program to assist us in building our businesses and real estate. Being a former Marine I loved his no B.S. approach in the subject of money. As you advance through his books you will find out more about his cashflow quadrant. His outlooks really helped me to understand what no school can teach you and put my wife and I years ahead of the game.

He also helped to explain alot of business and personal financial terms like earned, passive, and portfolio income. Taxes and how to legally avoid them. We are buying a BMW this spring and letting our tenants pay for it. Nothing better than that! Turning your earned income into passive income is the key. I know that if you continue to pursue and apply this knowledge you will continually begin to see new opportunities everyday to make you and your business more successful. Best of luck...and God Bless.

procut
02-20-2005, 10:09 PM
I find that money does make me happy.
Same here! :D

gqnine44
02-20-2005, 10:24 PM
Many of the "Rich Dad" books are great. Everyone should read them. Everyone should also put away 5-15% of their income before they pay anyone. I think this is one of the best Rich Dad principles.

grassyfras
02-20-2005, 10:32 PM
I read slot of his books. Their motivational but when you think of it hes really scamming you to buy his next book or seminar. He doesn't say much about his own experience just gives hints to it. Its almost like a triangle pyramid scheme. I think taking classes on small business and accounting and talking to actual retired or currently operating small business owners would be much more valuable.

KDLAWN
02-20-2005, 11:25 PM
no offense to you but Robert is a very well known and respected business man in the business world today.. he made his millons off of realestate and does not need your money through the books he writes.. mater of fact his books and seminars are probably the least profitable of his businesses that he owns today.. I am apart of a business team that reads alot of his books and take and put into pratice what he is trying to get other people to do.. the problem is most people punch a clock and they do not have a way to make his techniques work.. because of that people are weak in thier thinking and unwilling to take a chance and make it work.. yes.. I believe you should becareful in who you listen too and what you read.. cause 95% of the people out there are writing and telling you things off of theores and not what they have learned in real life.. Robert is a VERY creditable source, he is a product of his own lessons in life, and I encourage everyone to read and put into pratice what he writes about in his books.. rich dad/poor dad is an AWESOME book and I would recomend reading that first then cashflow quaduant.. read alittle on his history also.. I think you will be impressed..

KDLAWN
02-20-2005, 11:34 PM
and by the way.. that thing you call a pyramid scheme.. ITS CALLED A JOB!!!!
corporate america is the biggest pyrimid scheme there is and ever will be.. let me ask you.. what does your employees have to do inorder to make more money than you the owner???

they can't!! you as the owner, will always make more than them, no matter how hard they work and how less you work.. thats a pyrimid scheme

centralarlawn
02-21-2005, 12:39 AM
Robert is a VERY creditable source, he is a product of his own lessons in life, and I encourage everyone to read and put into pratice what he writes about in his books.. rich dad/poor dad is an AWESOME book and I would recomend reading that first then cashflow quaduant.. read alittle on his history also.. I think you will be impressed..

I agree 100%. I have not read any of his books that I do not find helpfull in some way.

stumper1620
02-21-2005, 12:48 AM
no offense to you but Robert is a very well known and respected business man in the business world today.. he made his millons off of realestate and does not need your money through the books he writes.. mater of fact his books and seminars are probably the least profitable of his businesses that he owns today.. I am apart of a business team that reads alot of his books and take and put into pratice what he is trying to get other people to do.. the problem is most people punch a clock and they do not have a way to make his techniques work.. because of that people are weak in thier thinking and unwilling to take a chance and make it work.. yes.. I believe you should becareful in who you listen too and what you read.. cause 95% of the people out there are writing and telling you things off of theores and not what they have learned in real life.. Robert is a VERY creditable source, he is a product of his own lessons in life, and I encourage everyone to read and put into pratice what he writes about in his books.. rich dad/poor dad is an AWESOME book and I would recomend reading that first then cashflow quaduant.. read alittle on his history also.. I think you will be impressed..
I agree, I want to get his money game for my family, I would love for my kids to learn money management like that teaches

LHlandscaping
02-21-2005, 01:30 PM
Trust me Robert needs no one's money. He retired after selling his third business at 39. He has plenty of real estate to keep him afloat. His business cashflow technologies was founded to help regular people like you and I think and become rich. Of course he should be generously compensated for his knowledge, and efforts. I have no problem spending a couple grand that will be made back in spades. It's either that or spend it on something stupid. I strongly recommend his books, seminars, CD's, DVD's etc. Also the game cashflow quadrant is an excellent game to play. I understand that in this world there are some evil people trying to pull one over on you but Robert is not one of them.

cward
02-21-2005, 02:00 PM
Rich Dad Poor Dad is a great book. It gives fantastic insight to making money and more importantly, the "MINDSET" necessary to achieve success. As far as learning the "in's and out's" of running a business from our college campus', good luck. I've spent a tremendous amount of time working on a Mechanical Engineering Degree. I made the mistake of taking a business class. What a joke and absolute waste of my time.

grassyfras
02-21-2005, 04:13 PM
Ok guys I know he made alot of money in real estate and his business but can any of you tell me exact corportations he has owned, business he owned, actually knowen peices of property he has owned? Like I said hes more motivational then anything else. Hes quadrants are really common sense. My father taught me that along time ago he just never wrote it down and showed me on a graph. Ill give Robert that but to some up his books all you do is do your job or busienss or whatever and re-invest as much as the money as you can into another busienss or investment. THATS THE WHOLE POINT TO BEING IN BUSINESS THE FIRST PLACE I THOUGHT.

txlawnking
02-21-2005, 04:56 PM
Mr. Kiyosaki's books that is. And all of his advisor series as well... I think you might spend maybe $2,000 to purchase just about every one of his books/ merchandise, and it'd be worth every single dime.... A college degree seems to start at @ $20,000.. And it ( possibly ) won't make you a cent wealthier.

My favorite quote of Robert's is: " My banker doesn't look at my report card. "

Better words haven't been heard by me in a very long time. payup

Primecut
02-21-2005, 06:09 PM
Rich Dad/Poor Dad is one of the most valuable books I have ever read. About 4 years ago, a wealthy customer gave it to me while I was working for another company. I was skeptical at first, but then after I started reading it, I couldn't put it down. I then went on to read several other Rich Dad books. Today, I own my own company. I'm not saying that he was the only reason that I am on my own today, but to those who have not read it, I highly recommend doing so. I have given many copies away to friends and relatives.

mommacutz
02-21-2005, 08:29 PM
Robert is a genius. I read his book for the first time about 3 years ago. It changed my whole way of thinking about money. You should also check out "The Millionaire Next Door" there are some very interesting facts about self made millionaires.

Qualey
02-21-2005, 09:31 PM
"Robert is a genius. I read his book for the first time about 3 years ago. It changed my whole way of thinking about money. You should also check out "The Millionaire Next Door" there are some very interesting facts about self made millionaires"

What I found interesting was that both of thee books offer success stories based on almost totally opposite ways of money management. What's worked for me is a blending of the two. Mr. Kiyosaki's methods require a bit more speculation and leveraging than I feel comfortable with at this point, but I'm getting better. Working on purchasing a 21000sf commercial/industrial warehouse property on 6 acres at the moment!

grassyfras
02-22-2005, 01:19 PM
No one answered my question. You guys have been brained washed. Hes never owned a succesful biz I bet besides selling his books. payup

Brianj
02-22-2005, 01:40 PM
u want to read a good book,about how to win in life and money, read the Total Money Makeover by Dave Ramsey.. get out of debt and stay out that is the only way

N.H.BOY
02-22-2005, 01:48 PM
Man-o-man I thought I was the only one that highlights useful info. in his books and go back and reads them. It's nice to see that other people read this stuff and not me. And alot of us believe it. My wife seems to think Im nuts when I have her highlighter on the toilet reading his books. Wait till she reads these treads :D Also there is a great book called "Multiple Streams Of Income" that was and still is like a Bible to me. Make money and be happy payup

mommacutz
02-22-2005, 05:51 PM
Ok guys I know he made alot of money in real estate and his business but can any of you tell me exact corportations he has owned, business he owned, actually knowen peices of property he has owned? Like I said hes more motivational then anything else. Hes quadrants are really common sense. My father taught me that along time ago he just never wrote it down and showed me on a graph. Ill give Robert that but to some up his books all you do is do your job or busienss or whatever and re-invest as much as the money as you can into another busienss or investment. THATS THE WHOLE POINT TO BEING IN BUSINESS THE FIRST PLACE I THOUGHT.
Your Dad was wise to teach you those things. I was never taught that. I was taught go to school to get an education to get into a good college to get a good job to stay on it for 30 years or so and then retire. All I am saying is that Roberts book has opened my eyes and I am so much better off. No, I don't know of any of his corporations its his way of looking at money that is genius.

Runner
02-23-2005, 02:15 AM
For those of you that DON'T know, you just have to read the book. There are many answers there. It's funny....I just mentioned this book in a thread about a month or so ago, and now here it is. This guy is NOT a typical Amway/Quickstar "motivational" speaker. As a matter of fact, he doesn't even use any brain washing techniques (yes, the corporate type like mentioned above DO use these techniques - it's proven). He is also not like these guys you see on late night info-mercials trying to get you to buy their latest get rich quick schemes (remember the young guy that wanted you to become a millionare by just running ads in newspapers? Well, he's out of the newspaper business and now wants you to get rich with real estate - no money required, of course). Anyway, this Kiyosaki guy is in a totally different category by himself, because he is neutral. He really CARE if you buy his materials or not...it's no skin off his back. He DOES have alot to offer, though, and it applies in MANY different aspects of business.

SOMM
02-23-2005, 03:49 AM
Mommacutz is right, "Millionaire Next Door" is great tool, it will make you rethink your entire marketing program, and set u straight about how to invest on pages 96-108. Brian Tracy was first national author in new millenium to cite "Millionaire" consistently. Your market research is moot without "Millionaire".

Notice Kiyosaki makes alot of his money from real estate, and cites Robert Allen, that's getting into the game for real. I like his pay yourself first philosophy. Kiyosaki gets paid both at closing, and again when he flips properties.
http://www.multiplestreamsofincome.com/

promower
02-23-2005, 06:16 AM
Ok Im sold I just ordered 2 of his books off amazon. They were pretty cheap to, $28.00 for both.

grassyfras
02-23-2005, 04:31 PM
UMMMMMMMMMMMMMMM he does infromercials. He is a con-artist. Sorry guys.

PMLAWN
02-23-2005, 04:58 PM
UMMMMMMMMMMMMMMM he does infromercials. He is a con-artist. Sorry guys.

All he does is give the people what they want. To be told that you can "be" rich. Notice I used the word "be". Most people do not want to "get" rich, only be rich. And they want someone to tell them the easy way.

Here is the secret--- You only get out of life what you put into it! If you sit on your butt and watch TV you will not get rich. If you have debt- you will not get rich. If you keep what you earn and stay out of debt and invest wisely you can get rich.
Most people do not tell their money where to go but ask where it went!
Getting rich has very little to do with how much money you make and a lot to do with how much money your money makes.
Staying rich has very little to do with how much you spend and a lot to do with how much you finance.

There, that is my book so now you all owe me $25.00.
I do read many books by many authors and they are good for motivation (and I have Rich Dad, Poor Dad) but it is still up to you.

I wrote one on weight loss too. --Eat less, Exercise More.--unfortunately that takes work too, so most will not do it.

Vassk1
11-20-2005, 11:37 PM
I apologize in advance for bringing up such an old topic.

I hate to say this but grassyfas is the only one who is correct here. Sadly, Kiyosaki is a fraud. His books are great, but for motivational purposes only. And yes, he did make all of his money on book sales. In the BI triangle, his Business is selling his books. Remember he is a BEST-SELLING author. He is a salesman like all the other great gurus.

Somebody here said that his techniques are great or something to that effect. What techniques? I've read three of his books and if you have read one you have read them all. They are all just rehashed BS. And he doesn't give any examples because he has none. What, start up a company and go public? LOL, yeah ok and how many of us have a chance of doing this?

Here is the real kicker. There is NO SUCH THING AS RICH DAD! I hate to break this to you. The whole story is made up. It is fiction, yet here he is on the best-selling non-fiction list. I have so much evidence to back me up on this one that it isn't even funny. He grew up in Hawaii, right? His best friend's name was Mike. Mike's father..."rich dad" (never actually mentioned by name out of respect for him..lol yeah right) became one of the wealthiest men in Hawaii. This guy was one of the richest guys in a state and people still couldn't find his name..and believe me they have looked. And why is this? Because he simply didn't exist.

Not only is there a good chance of going broke, you make actually end up in jail if you follow some of his ideas.

Great motivational books though.

mow2nd
11-20-2005, 11:58 PM
ummmmmmmmmmmm.........is this a lawn site??

TURFLORD
11-21-2005, 06:58 AM
Excuse me for bragging,but I was smart enough to figure this stuff out for myself without buying the latest version of Dianetics. I used a process called.... Thinking for myself. It takes money to make money. Ever hear of that.Read the paper and notice what's going on around you. I had the chance to invest in a property a couple of years ago that has 2 homes on it. I rent out 1 house for 2k a month no utilities inc. When the real estate market drops I will take equity and buy more rentals and sell the when the market improves, or I can buy dirt now on the fringe of civilization and flip it in 10 years because I know what to buy and when. I learned these skills by mere observation and experience. A small example: A upper middle class customer only wanted to retire out of state. Buy land and build dream house. Goes down to NC, uses equity to buy land for 500k. Oops tidal flood plain with massive building restrictions. Puts land back on market in 6 wks. Oh goody, just sold land in 3 days @ 180k profit.

PMLAWN
11-21-2005, 08:35 AM
I apologize in advance for bringing up such an old topic.

I hate to say this but grassyfas is the only one who is correct here. Sadly, Kiyosaki is a fraud. His books are great, but for motivational purposes only. And yes, he did make all of his money on book sales. In the BI triangle, his Business is selling his books. Remember he is a BEST-SELLING author. He is a salesman like all the other great gurus.

Great motivational books though.

Why is he a fraud. Very true that his story's seem far fetched but so does Harry Potter.
The man is a best selling author. He writes motivational books and you say
"Great motivational books though.[/QUOTE]" so what is he doing wrong?

As Turflord says-- You must think for yourself. But books and tapes like this will help you get into the right frame of mind. But you must take all that is said with a grain of salt. Build you own plan and use the hidden nugget in all of the info out there to help your plan.
Mow2nd- you ask if this is lawnsite- Yes, it is but, Lawnsite is about the Green industry (or Business) and if people talk about book or tapes that can help in some way than I believe that it is OK to discuss it.
Carlton Sheets is a massive sales campaign to push more stuff after you buy the first. John Beck (tax sales) is just an intro into his plan to buy training.
Heck even Kiyosaki wants to sell you board games.
But the info they give is great for starting you mind thinking in the right direction. I have used many of Sheets (bought his program in 87) ideas to buy homes and I have done some tax sales. I have many books (and tapes) form "TOP" authors about stocks and business and selling and wealth and real estate and positive thinking. Put this stuff into your mind all the time and you will profit.
Prime example-- Lawnsite has a lot of "fraud" posted and yet we all say that we benefit from the site. Always look for the good stuff.

And if all else fails always remember the last song of Monty Python's movie "THE LIFE OF BRIAN"--- Always look on the bright side of life!

jasonnau
11-21-2005, 08:44 AM
Same here! :D
It's not the money that makes me happy, it's the good dinners, nice stuff, and the ability to get whatever I want without stressing out over it.

grassyfras
11-21-2005, 10:17 AM
I'm gad someone relaizes hes a fraud. Show me some of his papers and how much he made on specific investments and not use his word for it.

Vassk1
11-21-2005, 10:28 AM
Why is he a fraud. Very true that his story's seem far fetched but so does Harry Potter.
The man is a best selling author. He writes motivational books and you say
"Great motivational books though."

He's a fraud because his whole story is a big lie. There is no rich dad. He constantly belittles is own father who works his ass off in order to support the family. Do you really think he made any money in real estate? Very little if any. His business is selling you his fictional stories about some guy who doesn't even exist.

Harry Potter is fiction, make believe harmless stuff. Rich Dad is also fiction but people think it is true. That's a very dangerous combination and people have gone out, quit their jobs to follow his path, and ended up bankrupt as thanks for their efforts. You think Kiyosaki cares? Ever read any of his articles on Yahoo? What an arrogant SOB.

I have a degree in Finance. His books are geared for individuals with no financial/business knowledge. That's who all these gurus prey on. Do you really think a $700 coat of paint is going to increase a home value by $20,000 like Dolf De Roos says it will? LOL, of course not, but if he says it then it must be true, right? These idiots who follow them would buy blank tapes if told to.

Like I said, only use as a motivational tool.

Howard Roark
11-21-2005, 11:19 AM
I read Rich Dad about 4 years ago. I enjoyed it and it did motivate me.

So my next statement is not for the people who enjoyed and got something out of the book. Because I truly believe you did. This is for all who are arguing about Kiyosaki's credentials.....

He made up his all of his stories to write a "best selling" book. He even tells you about a story when he told an aspiring author advice on being a "best selling" author.

Look up John T. Reed's article on his investigation of Kiyosaki to get truth on his backround.

Vassk1
11-21-2005, 11:24 AM
Amen. Obviously I have read Reed's articles on Kiyosaki and all the other gurus. Everything just made sense then.

Here is the link. It is a long read but well worth it when the alternative is ruining your life.

http://www.johntreed.com/Kiyosaki.html

lawnworker
11-22-2005, 08:40 AM
I have skimmed through his book, Rich&Poor Dads. I think it has the most potential to help people see that some assets are really liabilities. However, I think passive income is a myth, in most cases. Land investment is about the only truly passive income. looking at Rental properties, I Have heard of people getting killed collecting their rents. Property rental is like anything else. It is a business with the potential to make lots of $$$ and loose $$$ as well. I am thinking of becoming a Realtor and buying properties for resale. I will concentrate on below market values that can be moved quickly. Does anyone know if you have to pay capital gains on quick sell properties?

The advice about saving/investing 5% that others have mentioned is really great.


In the end richness of ones life will not be measured by $$$, yet we all need enough to make it and $$$ is the engine of society. Knowing what enough is can be tricky. especially, when health cost are considered.

stumper1620
11-22-2005, 09:08 AM
I have skimmed through his book, Rich&Poor Dads. I think it has the most potential to help people see that some assets are really liabilities. However, I think passive income is a myth, in most cases. Land investment is about the only truly passive income. looking at Rental properties, I Have heard of people getting killed collecting their rents. Property rental is like anything else. It is a business with the potential to make lots of $$$ and loose $$$ as well. I am thinking of becoming a Realtor and buying properties for resale. I will concentrate on below market values that can be moved quickly. Does anyone know if you have to pay capital gains on quick sell properties?

The advice about saving/investing 5% that others have mentioned is really great.


In the end richness of ones life will not be measured by $$$, yet we all need enough to make it and $$$ is the engine of society. Knowing what enough is can be tricky. especially, when health cost are considered.

I don't remember the time limit for sure, seems like you have 18 months to reinvest before you have to show it as a gain. check the IRS site to varify.

Runner
12-01-2005, 12:05 AM
I don't know,...but I do know that I'm going to do well with MY new plan. I'm selling out,..getting rid of the business. I'm going to make a living (a GOOD living) doing two different things. Half of my capital is going to go toward running ads. Not any particular ads, just ads in general. I figure I can run them in all kinds of newspapers. I will even run them in the Chatahoochie Express. I can make alot of money on this. There are several people who have done this. I know it is true, because I saw them on tv. The second thing I'm going to do, is start buying up real estate - with no money. All I have to do is get one of these publications that has these government foreclosures and stuff, and I can buy big houses for just 1 dollar, or no money down, and get 0% financing, and sell the houses for thousands of dollars. This works! I know it does. The people on tv even say so! They've done it, and been very successful at it. I will never have to work another day in my life. I will be able to just sit back and watch the checks roll in. I think I'm going to go tomorrow and get a rubber stamp with my signature on it, so I won't have to get blisters endorsing all these checks. Wish me luck!

LawnBrother
12-01-2005, 06:31 PM
I have read 4 of Kiyosaki's books. I too was very interested in what he had to say. However, this article (investigation?) by John T. Reed has changed my opinion of him. (thanks Vassk1) Anyone here who is touting Kiyosaki as a genius needs to go read this article on him. This article is more than mere heresay and speculation. Reed appears to have done his research on the guy. I can say from my particular experience that Kiyosaki has the knack of being able to build trust with the reader, and all of the sudden you believe what he says without feeling any need to check his credentials. Good salesman are always able to quickly build rapport and trust with their customers. You go and read one book by Kiyosaki, and dammit, before you know it you have bought and read three more. That is why he is a best selling author. I didn't check his credentials either, but I must say that when reading these books there were obvious contradictions throughout that made me wonder. One example I can recall is in an earlier book when he claims that his work involves building companies and taking them public, then in another book published LATER he says he someday hopes to do this very thing (which he previously claimed to do but appearently hadn't done). And still I kept reading them, and now I realize why. Because he is not really selling financial advice. He is selling something a little more intangible, but even more exciting. He is selling a dream. The dream of being rich. And peoples' dreams are powerful and not an easy thing to turn away from. I admit that I was taken in by Kiyosaki, as are many. While I am not religious, I am now reminded of a phrase I read long ago in a book by Doug Hall called Jumpstart Your Business Brain (which is a great book btw): "In God we trust, all others bring data." This phrase stuck with me and always reminded me to check the facts. I had apperently forgotten it while reading the Rich Dad books. One good thing I can say about these books is that they are inspiring. They inspired me in a positive way, and reinforced my belief that being financially successful requires a person to thoroughly educate themselves about money and to find the ways to achieve your financial goals through gaining knowledge and taking action. No one person or expert has the answer or the "way". It is something I think every person needs to figure out for themselves. Sorry about the long post, but that's my humble opinion on the subject of the Rich Dad books. I say read them if you want to, and take away what inspires you, but don't take them too seriously or view them as a road map to success. There are a great many other books written by reputable people that will prove much more useful.

MunroeServices
12-01-2005, 07:46 PM
This book has changed my life...I was tired of working for the "man" and making him rich. My eyes have been opened and new opportunities are abundant. A great read for anyone looking to break free from the "man." payup

DLS1
12-01-2005, 10:53 PM
Don't know anything about him or his book but from the posts here he sounds like another "There's a sucker born every minute.". Just use common sense of "if it sounds to good to be true then it isn't".

All these people on TV,radio,etc. trying to get you to go to workshops so they can sell you their books of how to make a million in real estate, etc.
If they are so good then why are they giving out the secret.

Just to many gullible people out their who will fall for anything that remotely sound like they can make money. Oh I forgot to mention Amway and lottery tickets as get rich for the gullible. :D