Robert Kiyosaki

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: 

• Kiyosaki is renowned for his book "Rich Dad Poor Dad," which has been a bestseller for many years, contrasts the financial philosophies of his "rich dad" (his best friend's father) and his "poor dad" (his own father) and promotes financial independence through investing, real estate, owning businesses, and increasing financial intelligence.

The Power of Investment: 

• He underscores the importance of investing in one’s own education and skills, not just in formal education but also in learning about investing, markets, and business, advocating for creating streams of passive income through investments like real estate or stocks, which can generate earnings without active involvement, as a path to financial freedom.
  

The Concept of the Cashflow Quadrant: 

• In his book "Rich Dad's Cashflow Quadrant," Kiyosaki introduces the idea of four types of people in business: Employees, Self-employed, Business owners, and Investors - he encourages moving from the left side of the quadrant (Employee and Self-employed) to the right side (Business owner and Investor) for financial success.

The Risk of Relying Solely on Employment: 

• Kiyosaki often points out the risks of relying solely on a job for financial security, therefore promoting investment and entrepreneurship as means to create additional income - he suggests that owning a business is a more effective way to wealth and his teachings often include strategies for starting and growing successful businesses.

Questioning Conventional Financial Wisdom: 

• Kiyosaki is known for challenging traditional financial advice, such as the emphasis on saving money and the conventional path of getting a stable job, buying a house, and saving for retirement.

Mindset and Attitude Towards Money: 

• An active advocate in favor of sharpening one’s own financial literacy, he emphasizes that having the right mindset and attitude towards money is key, and according to Kiyosaki, thinking like a rich person involves seeking opportunities, being open to learning, and not being afraid of failure.

Assets vs. Liabilities: 

• A central theme in his teachings is the difference between assets and liabilities as Kiyosaki defines an asset as something that puts money in your pocket, like investments or rental properties, whereas a liability takes money out, like a personal residence that requires mortgage payments, maintenance, etc.

Psychological Aspect of Risk: 

• Often addressing the psychological aspects of dealing with risk and asserting that fear of risk can be a barrier, Kiyosaki emphasizes the need for a strong mindset and emotional intelligence in building wealth, viewing calculated risk-taking as a necessary and integral element, while also emphasizing that avoiding risk altogether can also be risky.

Empowering Financial Education: 

• Many appreciate Kiyosaki for emphasizing the importance of financial literacy, a subject often overlooked in traditional education. 
• His teachings are perceived to empower individuals to take control of their financial future and are accessible through an extensive range of books, seminars, and educational materials that Kiyosaki offers to provide a wealth of information that many find useful and applicable.

Simplifying Complex Concepts: 

• Kiyosaki is praised for his ability to simplify complex financial concepts, making them attainable and understandable to a broad audience, including those without formal financial education.

Promoting Passive Income and Investment: 

• Many followers credit Kiyosaki with introducing them to the idea of passive income and the importance of making money work for you, particularly through investments like real estate and stocks.

Inspiring and Motivational: 

• Kiyosaki's advocacy for entrepreneurship resonates with many individuals who aspire to start their own businesses and seek financial independence outside of traditional employment.
• His ability to motivate and inspire individuals to take action toward improving their financial health is frequently mentioned. 
• People find his books and talks to be a catalyst for change in their financial behavior.

Real-Life Application and Long-Term Perspective: 

• Some followers have successfully applied Kiyosaki's principles in their lives, leading to improved financial situations and wealth creation, thereby validating his teachings through practical results.
• Kiyosaki is commended for advocating a long-term perspective on wealth and financial planning, rather than focusing on quick, short-term gains.

Challenging Conventional Norms and Mindset Shift: 

• His approach to challenging traditional financial norms and encouraging people to think differently about money and investment is seen as refreshing and eye-opening by many.
• His work is often lauded for encouraging a shift in mindset from the traditional earn-and-save approach to one that focuses on earning, investing, and creating wealth.