Rich Dad, Poor Dad - Refuted

[MattUK]

John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad

I got this from someones sig. on this forum, it was a very interesting read

[JiriNovotny]

I do not trust him, but some of his ideas are useful. I enjoyed his book. Unfortunately, all of his books are the same old song, over and over again, and he usually doesn't say how to do stuff, just how not to.

I think that everyone should read one of his books, it doesn't matter which, it can give you a few ideas, but that's about it.

[Lucas]

I found John T Reed's site to be over analytical and jealous. I mean, he is going after the same segment of the market with his book, but I am sure he is doing much less spectacularly. Reed and his books come across as regurgitation and I didnt find any insights that really changed anything about me. Cashflow 101 however, shattered my ideas of what opportunities may be (and ARE!) lurking just outside my door, and got me to go out and find this stuff. Reeds book is about as interesting and entertaining as a PowerPoint Presentation in College. Cashflow is like a Workshop class where everyone turns their chairs towards each other and works together. I dunno about you guys, but the latter type of classes in college I not only remember what I learned, but I loved the classes and wont ever forget them.

John T Reed should focus his energy not at deconstructing Roberts success, but writing a book that engages my mind.

[Isis Kali]

John T. Reed also wrote a scathing review of Robert Allen's stuff. And, wouldn't you know, he has a real estate investing plan of his own! Big shocker there!

A site that exists to bash other people's success is laaaaaame. I'll listen to you when you're on the NYT Bestseller List, man.

[Redline21]

Wow, Mr. Reed sounds quite jealous over Rich Dad's success....a shame he spent so much energy creating such a negative site.

I agree with Jiri though, you really only need to read one book in the Rich Dad series to get his point.

[boris]

It is irrelevant whether Reed is jealous or not. What is important that his analysis is quite on the spot.

First Kiyosaki's book was helpful for me to make me think about this stuff. I read three more and got almost nothing new. In addition some of the things given as simple truths are just not true in the real world.

The very fact, that there was no Rich Dad, and that Kiyosaki's wealth comes from the 'Rich Dad' books is a good reason to not recommend these books to anyone.

[TSchmitt]

Here is Kiyosaki's response to John T. Reed's critique.

[MattUK]

Originally Posted by TSchmitt

Here is Kiyosaki's response to John T. Reed's critique.

thanks for that, it appears kiyosaki avoided presenting answers to any of the major issues/flaws John Reed found in his book.

[Lucas]

Originally Posted by boris

It is irrelevant whether Reed is jealous or not. What is important that his analysis is quite on the spot.

First Kiyosaki's book was helpful for me to make me think about this stuff. I read three more and got almost nothing new. In addition some of the things given as simple truths are just not true in the real world.

The very fact, that there was no Rich Dad, and that Kiyosaki's wealth comes from the 'Rich Dad' books is a good reason to not recommend these books to anyone.

I find that hard to believe, because I have read less than 3 books by Kiyosaki and know at the heart of the "Rich Dad way" is that you should build your business, and then use the business to buy your real estate. While I am sure that real estate is a good portion of his holdings, he was always an entrepreneur, and in fact, preaching entrepreneurship is something he does in every book. So because you are thinking in single modalities, doesnt mean you should lambast the multifaceted ideas. Most successful Investors are also entrepreneurs too, even if the company is real estate based.

Maybe John T Reed should be directing his energy towards refining his writing instead trying to call other people out, then recommending his own books. Its laughable, and gives him about as much credibility as he gives Kiyosaki...

[Dani]

Especially since he was obviously only calling him out to gain attention then direct that attention to his books.

Good idea though. I am sure his 'review' made him quite a few sales.

[coollikeme]

The reason I have a business today is because of his books, and his cash flow game. He taught me a lot of things that I did not know. His books gave me the confidence to start a business. Something school does not teach you. It is not the story so much that helped, it's the message. It working for me, and I bet it works for a lot of other people.

[Dani]

Originally Posted by coollikeme

The reason I have a business today is because of his books, and his cash flow game. He taught me a lot of things that I did not know. His books gave me the confidence to start a business. Something school does not teach you. It is not the story so much that helped, it's the message. It working for me, and I bet it works for a lot of other people.

I feel the same way coollikeme. If I had read boring realestate investment fact books, I would probably have given up on being an entrepreneur. But instead I read RDPD and now I have several businesses.

I know which I prefer.

[Lucas]

Originally Posted by coollikeme

The reason I have a business today is because of his books, and his cash flow game. He taught me a lot of things that I did not know. His books gave me the confidence to start a business. Something school does not teach you. It is not the story so much that helped, it's the message. It working for me, and I bet it works for a lot of other people.

Exactly.

What I got out of "Rich Dad, Poor Dad" is leagues beyond what I got out of "How to Buy Real Estate at 20% Below Market Value". The oft used phrase in personal development "paradigm shift" is exactly what Cashflow hit me with. It really shattered my ideas of my finances and how I could view/use/improve them. For people saying "Kiyosaki doesnt tell you HOW", well, one of the things I first thought when reading Steves articles about passive income and not having a job was "This guy doesnt tell me how to make passive income, and what he does tell me are vague generalities of his own experiences." People looking for exact instructions, are basically just Employees looking for a boss to tell them what to do next.

[playa77]

Well Kiyosakis books, while often repeating themselves. are themed, "What the rich teach their children, that the poor don't". That's his premise. Nothing more.
While many of us might be or have been children at financial literacy, it's unfair to criticize him for greatly simplifying things.
John T. Reeds critiques won't help you much at a certain point. It's always more easy to (however eloquently) diss someone, than to provide real value to people.
Being in business, he wants to make money off his teachings (hello darkworker), but it's your responsibility to choose when and what you learn and when to move on. As it always has been (just like with those Tony Robbins seminars - sorry Steve ).

Just like if you want to master martial arts on the highest level, you can't just stay with one teacher forever, no matter how great he is. You are not him. There will come a time when you will have to move on, continually soak up everything you can learn and find your own road to excellence...

[playa77]

sorry for double posting, but yeah play the cashflow game. My spouse immediately digged it.
I haven't tried the cashflow game for children, but i definetely will, even if i have to take all the screenshots, translate it to german and build a cardboard game of my own for my son...Some very valuable lessons, there...

[John07]

I found his stuff to be good and he has some great ideas.

[notyetrichdad]

Hi guys

It's important that people understand Rich Dad Poor Dad was originally written as a brochure for the Cashflow 101 board game.

Too many people have been quick to criticise its contents without learning more. 'Rich Dad Poor Dad 2 - Cashflow Quadrant' fills in some of the gaps left out of the first book but it's not until you invest in 'Rich Dad Secrets' and 'You Can Choose to be Rich' that you really get the whole picture from the mouth of Robert Kiyosaki and his team.

The Rich Dad Poor Dad book is a real eye-opener but, remember, it serves only as an introduction to the Rich Dad philosophy.

As for John T Reed, does anyone know if he's worked with hugely successful entrepreneurs such as Ron Legrand and Donald Trump?

[Isis Kali]

Originally Posted by notyetrichdad

Hi guys

It's important that people understand Rich Dad Poor Dad was originally written as a brochure for the Cashflow 101 board game.

Too many people have been quick to criticise its contents without learning more. 'Rich Dad Poor Dad 2 - Cashflow Quadrant' fills in some of the gaps left out of the first book but it's not until you invest in 'Rich Dad Secrets' and 'You Can Choose to be Rich' that you really get the whole picture from the mouth of Robert Kiyosaki and his team.

The Rich Dad Poor Dad book is a real eye-opener but, remember, it serves only as an introduction to the Rich Dad philosophy.

As for John T Reed, does anyone know if he's worked with hugely successful entrepreneurs such as Ron Legrand and Donald Trump?

I'm thinking not. The guy just sounds like sour grapes, for real.

[Jonathan Browne]

J.R.R. Tolkien - Refuted

teh book is pure fantasy.

[Keith]

One thing I immediately noticed about John T Reed's analysis:

Originally Posted by John T Reed

In fact, if a book has a point, multiple readers ought to come up with the same answer when asked what that point is. If they come up with different answers, it is either because the author was incompetent at communicating his point, or because the book has no point, or because the author deliberately obfuscated the point.

[...]

Originally Posted by John T Reed

About every third email I get about this analysis me that they agree with me that Kiyosaki is short on specifics about how to get rich. [...] I never said Kiyosaki was short on specifics! Not only does Kiyosaki’s hypnotic effect on many people result in their seeing things in his book that are not there, now they are seeing things in my analysis that are not here. Amazing!

So which is it? If people read things into your page that aren't there does it mean that your page is also incompetent or obfuscated? Or does it just mean that a lot of people are sloppy readers - which applies just as much to reading Kiyosaki as reading your page?

Personally I suspect the latter, but either way that's just plain inconsistent...

[EDIT] I find the below quote particularly disingenuous:

Originally Posted by John T Reed

Not only does Kiyosaki’s hypnotic effect on many people result in their seeing things in his book that are not there, now they are seeing things in my analysis that are not here