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Robert Kiyosaki's New Book - Unfair Advantage

ENP

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http://www.youtube.com/watch?v=j7Yxps3H_RI

Robert Kiyosaki proclaims to get into debt. Get into good debt. This is mainly because of central banks printing money. The only good debt I can associate this with is property investment.

If you don't have enough of a deposit to get into property, what other "good debts" can you get into?

Also, has anyone read the book yet?
 
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I am planning to use a line of credit @ around 7% to invest in shares, just waiting for the next correction/opportunity to present itself.
 
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I am planning to use a line of credit @ around 7% to invest in shares, just waiting for the next correction/opportunity to present itself.
7% hello!!!!! My line of credit with citi is 12%. Mind telling us who is offering this rate?
 

ROE

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http://www.youtube.com/watch?v=j7Yxps3H_RI

Robert Kiyosaki proclaims to get into debt. Get into good debt. This is mainly because of central banks printing money. The only good debt I can associate this with is property investment.

If you don't have enough of a deposit to get into property, what other "good debts" can you get into?

Also, has anyone read the book yet?
Did companies load up with debt to run business and to invest and to expand business
then they went busted because they cant meet debt repayment?

this is crazy idea, debt is not free it has cost associated with it
you borrow at 7% or 10% or what ever and if you cant make return on investment greater than your cost you going down no matter what.. Inflation goes up so is your cost of debt

Debt isn't bad and saving isn't bad either it is how you deployed it and able
to manage your obligation when hard times hit is the key success for money management..

Dismissed saving and said debt is the way to go is just crazy.
 
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Doesn't Kiyosaki only make money from selling his products rather than from what he preaches?
From casual flicks of his book in Dymocks, he likes to push multi-level marketing strategies as well.
 
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Doesn't Kiyosaki only make money from selling his products rather than from what he preaches?
From casual flicks of his book in Dymocks, he likes to push multi-level marketing strategies as well.
I have one of his books ('conspiracy of the rich') which said 'buy silver', when it was about $16 :). Alas, this was bought prior to me getting into the markets.
 
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I like his books, I find it hard to put them down, and I also find them motivating for me to be better with my finances. HOWEVER, I do see some danger in his books for those who wish to take things a little too literally.

I've read Rich Dad Poor Dad and am now reading Prophecy, and one of the general themes he puts forward is basically to get 'financial freedom', to get out of the rat race. For someone who doesn't know what they're doing, or if they don't have the right personality for it, this could mean quitting your day job would be a mistake. He takes the common dream of financial freedom and makes it seem achievable, yet he is very vague in exactly as to how to achieve this.

I remember in his first book, he was a proponent of passive income, and even going as far as to say that running your own business wasn't what he was talking about, because it wasn't passive income in the sense that you still had to work for it. But then in the Prophecy he disses the idea of the common person investing in shares, so that really only leaves property investments, which as we all know, not everyone has the funds to get into.

And now, with the sounds of his new book, he's advocating for people to get into debt?!?! Sounds very dangerous to me, but I would be interested to buy it (at the right price) to see what he is talking about.

A bit of research on the guy on google shows he used to take those motivational speaking classes, so he is an expert on selling, so I'd take his books with a few grains of salt ;)
 
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http://www.youtube.com/watch?v=j7Yxps3H_RI

Robert Kiyosaki proclaims to get into debt. Get into good debt. This is mainly because of central banks printing money. The only good debt I can associate this with is property investment.

If you don't have enough of a deposit to get into property, what other "good debts" can you get into?
There is no such thing as "good debts", only 'good investments' :) Australian property IMO is not a good investment. It is the most inflated & expensive housing in the world and will ultimately crash. However, for us poor sods we still need somewhere to live so not buying isn't really an option. An investment vehicle it is not for much longer though. There will be a massive liquidity trap once Humpty Dumpty finally falls off the wall.

This is specifically about the $USD which has been on a steady decline for some years now. The $AUD on the other hand is the opposite of this (ATM) and saving is a good safe investment at our interest rates (currently amongst the highest in the world) IMO.

I would like to see a book by the likes of Robert Kiyosaki, Tony Robbins, Brian Tracy etc along the lines of:

"How I actually made a fortune other than selling motivational material, and how you can too!"

We can all become a little wiser by adhering to some of the money management principles in these types of books no doubt. However, unless you have a large captial base these professed financial fundamentals are not going to make you rich. I've always found the advice from these motivational people to be flakey & generalised with little strategy (they all give good advice on things retrospectively). You have to remember these guys are all brilliant top sales men who are flogging themselves (no pun intended) and their material (their business) to amass their fortunes - not by 'reducing taxes', 'empowering women' and 'not listening to economists'. WTF?

He does make a good point (again commonsense stuff though) how 'financial ignorance' is the problem. But it is this very financial ignorance that is lining his pockets so I'm guessing he's really not that upset about it.

To end on a positive note though, these types of books are mainly about breaking through your own personal psychological barriers & applying this to your ultimate goal (which can't be just to be a gazzilionaire). But a get rich quick book they ain't.
 
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Is there any way I can borrow large amounts of funds from overseas? The interest rates are so little its ridiculous!
 
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Don't get me wrong I like his philosophy and strategy. But once you've read one book, you've read them all. He just regurgitates information over and over, with his quadrants and re-worded double ups. So after you've read one book if you aren't going to apply that knowledge don't bother . And 99% of people will read these books and probably do nothing anyway. He wins.. $$$ from books,
 
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very confident in the aud against the usd.
Over the life of a loan?...
Don't get me wrong I like his philosophy and strategy. But once you've read one book, you've read them all. He just regurgitates information over and over, with his quadrants and re-worded double ups. So after you've read one book if you aren't going to apply that knowledge don't bother . And 99% of people will read these books and probably do nothing anyway. He wins.. $$$ from books,
It's even worse than that. The repetition occurs intra-book. You could probably distill one of his books into about 10 pages. I read one which could be distilled down to 'buy silver'. Good call, but didn't justify the thickness of book.
 

explod

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Over the life of a loan?...

It's even worse than that. The repetition occurs intra-book. You could probably distill one of his books into about 10 pages. I read one which could be distilled down to 'buy silver'. Good call, but didn't justify the thickness of book.
Agree, the first one was very good but I did get a bit out of a couple of the others.

Sure it can be condensed but the objective is to imprint by repeating the message over and over till it sticks even in the subconscious. Same methods as "Investment in Excellence" www.pacificinstitute.com.au/

Of course the entire journey is a much greater story but he has been good for a lot of people and of course as well as himself. Who would not in the same situation as the end game is money.
 
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I have one of his books ('conspiracy of the rich') which said 'buy silver', when it was about $16 :). Alas, this was bought prior to me getting into the markets.
i read rich dad/poor dad many years ago and i must admit it did inspire me, combining it with noel whitakers 'golden rules of wealth' and lance spicers 'trident confidential' newsletter helped me get on my financial feet to the point where i now have one foot out of the 'rat race'

i am reading his 'conspiracy of the rich' at the moment and i'm thinking his point of view has changed alot from RDPD though! in RDPD he idolized ppl like goldman sachs/ rockefellers/ soros/ rothschilds etc whereas in 'COTR' he (rightly in my opinion) paints them as being financial parasites who basically engineered the GFC for their own benefit, thats how i read it anyway, i like the point that this is 'corporate cronyism' not true capitalism. very apt i thought! he's now become a ron paul fan and very 'anti-fed' ...bring it on robert! ;)
 
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All his books really are, are a starting point. They get you to challenge your core set of values and look at things in a different light. i think the most important thing I took away from this is "Your home is not an asset" .. I've been brainwashed into thinking that your #1 priority should be buy a home. Now, it's cashflow. Renting makes more sense for someone like me, I don't want a family or kids or to be tied down. :)
 
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This is specifically about the $USD which has been on a steady decline for some years now. The $AUD on the other hand is the opposite of this (ATM) and saving is a good safe investment at our interest rates (currently amongst the highest in the world) IMO.
Reviewing that Kiyosaki YT vid, he denounces saving in USD and promotes hedging against the declining purchasing power of the USD. Invest in gold and silver to hedge, yes but how - futures, etf's, physical metal etc. Oh, to find that out you need to attend a $5,000 weekend seminar. That's the tried and true formula, the seminar method of upselling to get the specifics.

Kiyosaki is always pitching the value of financial literacy, but not as an altruistic pursuit but as an opportunity to build he and his wife's financial education empire.

Saving in USD is a losing proposition, but had those savers just bought AUD (not just the more exotic gold or silver contracts) with their USD and had their savings in AUD it would have been very profitable indeed.

I would like to see a book by the likes of Robert Kiyosaki, Tony Robbins, Brian Tracy etc along the lines of:

"How I actually made a fortune other than selling motivational material, and how you can too!"
You will likely never see such a book but the formula is transparent enough. Such people are dream merchants and understand how to sell the dream to others for a very tidy sum. They are in the business on promoting/pitching the general and selling the specific.

Kiyosaki has morphed over time. He heavily promoted for years (pre GFC) the passive income goodness of property investment since mortgage debt was "good debt". Did this guru see the GFC coming, not to my knowledge and no doubt many thousands of his disciples are now bankrupt or close to it in the U.S. as a result of all the "bad debt" they accumulated in investment property.

We can all become a little wiser by adhering to some of the money management principles in these types of books no doubt. However, unless you have a large captial base these professed financial fundamentals are not going to make you rich. I've always found the advice from these motivational people to be flakey & generalised with little strategy (they all give good advice on things retrospectively). You have to remember these guys are all brilliant top sales men who are flogging themselves (no pun intended) and their material (their business) to amass their fortunes - not by 'reducing taxes', 'empowering women' and 'not listening to economists'. WTF?
Yep, you hit the nail on the head here. You will never become wealthy reading Kiyosaki's books (and I have many of them), the "advice" is far to general in nature. Real money is made through leverage, risk and capital management in the investment world and the information on this is widely available on the internet free of charge for your investment vehicle of choice.
 

explod

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Reviewing that Kiyosaki YT vid, he denounces saving in USD and promotes hedging against the declining purchasing power of the USD. Invest in gold and silver to hedge, yes but how - futures, etf's, physical metal etc. Oh, to find that out you need to attend a $5,000 weekend seminar. That's the tried and true formula, the seminar method of upselling to get the specifics.

Kiyosaki is always pitching the value of financial literacy, but not as an altruistic pursuit but as an opportunity to build he and his wife's financial education empire.
.
If you followed the Silver thread a video of Kioysaki on silver and gold has been posted numerous times. Not hard to track on Google and elswhere that he advocates holding and storing physical.

Sure he and his wife have made a fortune from the books but the financial education for those starting off is good. My Children and some Grandchildren will vouch for that.

Of course the finance industry run him down as they do not want people to be too financially literate.
 

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