Robert Kiyosaki, born in April of 1947 in Hawaii, is a prominent figure in the world of personal finance and self-help with a significant presence in media, including books, seminars, workshops, and appearances on various platforms where he discusses his financial philosophies and current economic trends.
Marked as an advocate for financial literacy and emphasizing its absence in traditional education systems, Kiyosaki encourages people to pursue financial education as well as entrepreneurship as a path to financial freedom, placing focus on the importance of having income streams independent of a regular job.
As the bestselling author of “Rich Dad Poor Dad’, which forms the foundation of his philosophies, along with its broader sequels, and despite this businessman’s popularity, Kiyosaki is seen as a polarizing figure as his approach to wealth and financial management elicits opposing responses, with some praising his insight and others questioning his methods and motives.
Here’s a look at what some people call the ‘financial guru’ is mostly known for before we explore the varying public sentiments about him.
Bestselling Author and the "Rich Dad Poor Dad" Book Series:
The Power of Investment:
The Concept of the Cashflow Quadrant:
The Risk of Relying Solely on Employment:
Questioning Conventional Financial Wisdom:
Mindset and Attitude Towards Money:
Assets vs. Liabilities:
Psychological Aspect of Risk:
Empowering Financial Education:
Simplifying Complex Concepts:
Promoting Passive Income and Investment:
Inspiring and Motivational:
Real-Life Application and Long-Term Perspective:
Challenging Conventional Norms and Mindset Shift:
Over-Simplification of Financial Concepts:
Questionable Anecdotes and Stories:
Promotion of Risky Investment Strategies:
Commercialization and Upselling:
Bankruptcy of Rich Global LLC:
Controversial Opinions and Statements:
Acknowledging Financial Education Importance:
Balancing Risk and Reward:
Mixed Evidence of Success:
Understanding of Controversial Nature:
Value of Diverse Perspectives:
Influence on Financial Discourse:
According to the public, Robert Kiyosaki is a figure who has significantly impacted the field of personal finance and entrepreneurship.
He is celebrated by many for his unconventional wisdom and criticized by others for his controversial methodologies and the perceived impracticality of his advice.
The positive remarks highlight how Kiyosaki's teachings have been instrumental in shaping the financial understanding and strategies of a significant number of people, providing them with tools and knowledge to pursue financial independence and success.
In turn, the negative remarks reflect a spectrum of skepticism about the practicality, realism, and integrity of Kiyosaki's advice, illustrating the polarized views surrounding his approach to financial education and wealth building.
Conclusively, the neutral remarks reflect a balanced view of Kiyosaki's impact on financial thinking, acknowledging the merits in his approach to raising financial awareness while also noting the criticisms and limitations of his methodologies
Regardless of these differing views, his influence on the public's understanding of financial independence and education is undeniable.
What was Robert Kiyosaki's background before becoming a financial educator?
Before his success as a financial educator and author, Kiyosaki had a diverse career path.
He served in the Marine Corps during the Vietnam War, worked in sales for Xerox, and was involved in various business ventures, including a company that produced Velcro wallets.
How did Robert Kiyosaki's early life influence his financial philosophies?
Kiyosaki often cites his upbringing and the contrasting views of his two father figures - his biological father (the "Poor Dad") and his friend's father (the "Rich Dad") - as pivotal in shaping his financial beliefs.
These experiences laid the foundation for his emphasis on financial education and investing.
Does Robert Kiyosaki invest in stocks or only in real estate?
While Kiyosaki is best known for his advocacy of real estate investing, he also discusses the importance of stocks and other investment vehicles.
He emphasizes diversification and the value of having multiple streams of income.
What does Kiyosaki say about debt?
Kiyosaki distinguishes between good debt and bad debt.
He considers good debt as something that helps generate income and increases one's net worth (like a mortgage for a rental property), while bad debt is linked to depreciating assets (like consumer debts).
How does Kiyosaki view retirement savings and traditional retirement plans?
Kiyosaki often criticizes traditional retirement plans like 401(k)s and IRAs, arguing that they offer less control and potential than self-directed investing.
He advocates for creating passive income streams that can provide financial security in retirement.
Has Kiyosaki collaborated with other financial educators or authors?
Yes, Robert Kiyosaki has collaborated with several other authors and educators.
For example, he co-authored "Why 'A' Students Work for 'C' Students" with Sharon Lechter and has worked with Donald Trump on "Why We Want You to Be Rich."
References:
The sourcing of information on Robert Kyosaki from the public domain is done through a variety of portals and methods online i.e Academic Platforms (Google Scholar, ResearchGate, Academia). Professional Networking Sites (LinkedIn). Book Websites (Amazon, Goodreads, Barnes & Noble). Media Outlets. Podcasts (Spotify, Apple). Social Media Platforms (Twitter (X), YouTube). Public Speaking Conferences (TED Talks). Blogs & Personal Websites. Forums & Discussion Platforms. Web Search Engines.
Alright, check this out. Kiyosaki’s got the secret sauce to financial freedom, and here’s the scoop:
1. Know Your Numbers: Financial statements are your adult report card. Learn to read them.
- Do This: Take a financial literacy course or read up on financial statements.
2. Income Types: True wealth comes from being a Big business owner or Investor.
- Do This: Figure out where you are now and plan to move towards B and I.
3. Chase Assets: Paychecks are nice, but assets grow your wealth.
- Do This: Regularly invest in real estate, stocks, or businesses.
4. Rethink Saving: Instead of cash, invest in stable assets like gold and silver.
- Do This: Allocate part of your savings to gold or silver.
5. Embrace Mistakes: Mistakes are learning opportunities.
- Do This: Reflect on past financial errors and learn from them.
6. Leverage Taxes: Different incomes get taxed differently. Aim for the best tax breaks.
- Do This: Consult a tax expert for strategies.
7. Trust Yourself: Traditional education won't make you rich. Learn from the successful.
- Do This: Study successful people and their methods.
Follow these steps, and you're on your way to financial freedom. You got this!
Rich Dads inspire Rich Sons, whom in return become Rich Dads.
Thanks
Escucho varios videos de Robert Kiyosaki que me ayudan a tener una mejor perspectiva de como generar mas recursos y en que gastar, el cuadrante de los tipos de ingresos, creamen que estoy generando mis propios ingresos (servicios profesionales y emprendimientos), adicionales al ingreso fijo por mi sueldo.
Pero esto requiere de mi tiempo y familia, estoy buscando la manera de poder contratar personal pero el negocio recien lleba 6 meses y nos va bien, pero es un paso muy dificil automatizar y dejar todo en orden para que pueda mi negocio contratar a alguién.
Primero debe ser de confianza y 2do debo tener un control de los inventarios, etc.
Espero superar esto para el otro año y continuar con el cuadrante y buscar ya la inversion en bienes raices, del cual solo tengo una y esa me permite pagar mi hipoteca de la casa nueva que tengo.
Agradezco mucho si realizan videos de como seguir cruzando los cuadrantes de ingresos para llegar a la libertad financiera deseada
[Translated from Spanish: I listen to several videos by Robert Kiyosaki that help me have a better perspective of how to generate more resources and what to spend on, the quadrant of the types of income, believe that I am generating my own income (professional services and entrepreneurship), in addition to the fixed income for my salary.
But this requires my time and family, I am looking for a way to hire staff but the business has only been around for 6 months and we are doing well, but it is a very difficult step to automate and leave everything in order so that my business can hire someone.
First it must be trustworthy and secondly I must have control of inventories, etc.
I hope to overcome this next year and continue with the quadrant and look for investment in real estate, of which I only have one and that allows me to pay my mortgage on the new house I have.
I really appreciate if you make videos on how to continue crossing the income quadrants to reach the desired financial freedom.]
Real Estate is something I'm trying to learn more about.
Financial education teaches that financial freedom isn't just about making money, as we must also have a strategy. He [Kiyosaki] has been one of the first to teach me this in my life and he taught me to think differently. I've read his books and it was his wife who encouraged me to dream of being a woman millionaire
We like the way of his clarifications
This man I love so much. After I read the book about the Rich Father and the Poor Father, I became poor in my financial future, and now I am debt-free and I have money in the bank without having to sell my kidney.
The journey to financial freedom isn’t just about making money, but about understanding, strategizing, and continually learning. Avoiding taking risk is too risky too.
Excelentes libros
[Translated from Spanish: Excellent books]
The journey to financial freedom isn’t just about making money, but about understanding, strategizing, and continually learning.
A great book to read [Rich Dad Poor Dad]
I've finally been able to determine my financial path.
If you read it, you will be able to avoid financial miscarriage and what you deliver, will grow exponentially with time as your judge
I rejected for long time to study about finances - I always a thought was a waste of time!!! Now I realize that I should have done it a long time ago
Inspiring thoughts
He leído algunos libros de Robert Kiyosaki, y la verdad lo considero uno de los Gurú financieros más importantes de la historia sobre inversiones, anhelo conocerlo algún día y darle las gracias por escribir esos libros tan valiosos para el mundo. Gracias Robert Kiyosaki
[Translated from Spanish: I have read some books by Robert Kiyosaki, and I honestly consider him one of the most important financial Gurus in the history of investments. I long to meet him one day and thank him for writing those books that are so valuable to the world. Thank you Robert Kiyosaki]