Rich Dad books/CDs - I now have trust issues

Rich Dad books/CDs - I now have trust issues

Renton, WA · Member since 2009 · 127 posts · 15 votes

When I first read Rich Dad Poor Dad, I had full faith that whenever Kiyosaki cited events from his life, he would not be lying.

I'm not talking about whether or not his Rich Dad was real. I'm talking about specific life events he calls out.

The more of his stuff I read, the more discrepancies I noticed. This one I found particularly interesting:

On "Choose to be Rich" 12 CD set (that you get when you sign up for the $500 seminar), CD 4 or 5 I think, Kiyosaki clearly calls out this event from his life: him and his wife Kim were broke and all they had was $50 left, so they went to some cheap motel and got a room and it turned out to be only $40; so, they went across the street and bought some chicken and beer for the remaining $10.

Kioysaki's wife Kim recently released a book called "Rich Woman," where in foreword she clearly states this: at some point they were broke and they had no money left and all credit cards were maxed out; she went to some cheap motel and gave the receptionist her maxed out credit card, while keeping her fingers crossed that they don't actually run it. The receptionist simply scanned the credit card, but never ran it. After that they went across the street and somehow managed to afford some chicken and beer.

The reason I feel trust issues, is because these are supposedly real-life events that were the "rock bottom" from where they had to learn to invest in real estate. If that really happened, this kind of detail could not be possibly forgotten or get mixed up.

I feel disillusioned because I have a feeling that all the Robert/Kim Kiyosaki books were not written with intent to sell a story and a lesson, but rather with intent to use psychology to pump the next product.

Now that I think about it, this is the path I took:

$25 Rich Dad Poor Dad --> Other Rich Dad books from library (free) -> $160 Cashflow 101 -> Free Seminar -> $500 seminar

I don't regret taking this path because I've learned a lot and it changed my life. I just feel bad because I gave my trust to the author completely, only to start realizing that the "personal true life events" was fiction as well...

I am very happy that I found this website though :)

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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
    17y

    You are going to find things like this from everyone. No one tells the exact story the same way twice. Besides, he told one version and his wife told another. Same event just told a bit different from two people. If you let this issue ruin your trust, I hate to be the one to break it to you but get ready for a life full of disappointment. You should be focusing on what you got out of the book and the message it was giving.

    Curt Davis - KAIZEN Realty538 Reviews
  • Real Estate Investor · OH · Member since 2008 · 4k+ posts · 1k+ votes
    17y

    The gurus are all about motivation! They are not about facts or details. In fact, it's blatantly obvious to me that many of them don't know anything at all about real estate investing, other than what they've seen on a late night tv infomercial.

    If you're looking for the reality of the business, you're not going to find it with the gurus. My suggestion is to join your local REIA and make friends with the SUCCESSFUL investors in your area. Of course, you'll also find the truth about real estate investing right here on BiggerPockets. Save your money for doing deals. All you're going to get from the gurus is a smaller checkbook!

    Mike

  • Real Estate Investor · Tampa Bay, FL · Member since 2009 · 180 posts · 17 votes
    17y

    Creating a hypnotizing marketing or sales message frequently includes story telling and motivational metaphors.

    They will not see this as lying, but merely a means to an end. With the end of course being you buying more stuff.

    That being said, his stuff is pretty good, and if it changed your life that is all that matters.

    If you want to cheat the system buy his books from yard sales, flea markets, or go to the library for them.

  • Real Estate Agent · Tampa, FL · Member since 2009 · 456 posts · 123 votes
    17y

    honestly these real estate "gurus" are not much better than the motivational crowd-pleasers that multi-level marketing companies hire to get everyone all fired up and wanting to keep trying, rather than give up (and stop doing the MLM).

    as soon as someone starts telling you how they went from rags to riches or how fast you can do it, you should be skeptical. most of these people are almost certainly full of crap.

  • Manhattan, NY · Member since 2008 · 801 posts · 61 votes
    17y
    Originally posted by Ivan Jouikov:
    The reason I feel trust issues, is because these are supposedly real-life events that were the "rock bottom" from where they had to learn to invest in real estate. If that really happened, this kind of detail could not be possibly forgotten or get mixed up.

    About the only thing "real life" in his materials is his name.


    You are correct. That is the marketing path. Now, one of his "multiple streams of internet income" is a course showing how you to can set up a marketing machine just like that.

    It isn't just a difference between the way he told it and she told it. The little details are different, very different and the little details always betray the fibber. That is why attorneys are trained to ask the same question multiple ways to uncover inconsistencies in a "story".

  • Renton, WA · Member since 2009 · 127 posts · 15 votes
    17y

    Thank you all for the insight.

    I also read some Donald Trump books, which I didn't like nearly as much as Kiyosaki's. Looks like now is time to go out and meet people :)

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