A Quick Update, and Thoughts on “Rich Dad, Poor Dad”

Wow, life has been hectic the last few weeks!  School, extracurricular activities, and personal life have pretty much put a kibosh on getting any passive income creation done.  The concept of passive income was proven, though, as I got a few click-throughs on my AdSense ads over the last few days.  Work I did weeks and months ago was still sitting there, working to bank me a little cash.  Notably, I had my first click-through on the garlic site, and I had my highest CPC to date with a $1.22 click-through on an Infobarrel article.  In the great big money-making picture, the clicks aren’t coming fast enough yet to cover expenses, but each one is a powerful psychological motivator.

Since I don’t really have much to share in terms of my own endeavors over the last two weeks, I thought that would talk a little about some interesting commentary I’ve read about one of my favorite books, Rich Dad, Poor Dad.  I had been on J.D. Roth’s excellent blog, Get Rich Slowly.  I read some recent posts, then went back through a couple of older ones, including one about his suggestions for books on personal finance.  I was a little surprised to see that he hadn’t included Rich Dad, Poor Dad in the list, as I personally find it to be very inspiring.

After reading down through a lot of the comments on the post, I found out that J.D. actually dislikes Robert Kiyosaki and his works pretty strongly.  I didn’t really understand why, until J.D. posted a comment pointing out that RDPD has no “actionable” information, a statement with which I totally agree.  It’s very much a philosophy book, rather than an instructional one.  J.D. then pointed out that he felt that the T. Harvey Eker book, Secrets of the Millionaire Mind does the same thing in a much better way.  I haven’t read the Eker book yet, so I can neither agree nor disagree with J.D.  I think it’s probably a sound analysis, though, and I like the way he explained why he dislikes Robert Kiyosaki’s writings.

Later on though, I found a link that was posted in one of the many, many comments.  It led to a site which gives a very detailed, very angry description of the inaccuracies that appear in Rich Dad, Poor Dad (http://www.johntreed.com/Kiyosaki.html).  I’m going to describe the site a little to point out a few things you should seriously avoid if you are trying to persuade people to agree with you (Marketing, anyone?).

On the site, Mr. Reed launches into a diatribe against Robert Kiyosaki that can only be described as “obsessive”.  In terms of pointing out that the book is a work of fiction being portrayed as biography (a fact which any reasonably intelligent reader should be able to piece together long before they finish the book), Mr. Reed succeeded within just a few paragraphs.  Had it been left at that, I would have been quite impressed with the site.  The problem is that it never seemed to end.  Out of curiosity, I copied all of the text from the site and copied it into a word processing document (I omitted all of the graphics).  It came in at over 30,000 words, and filled 55 pages!

Among the many, many attacks on Kiyosaki included on Reed’s site is a link to a story about a man who lost a lot of money and got charged with operating a real estate venture without proper licensing. Why is it included?  Well, the man’s public statement included a passing comment that he decided to get into investing because he read RDPD.  It was completely insignificant to the case, and genuinely had nothing to do with the story.  Another attack states that Kiyosaki advocates getting friends for the sole purpose of gaining insider trading tips for stocks.  I flipped to the relevant passage in my handy copy of the book, and I found (as expected) that the book says no such thing.  Kiyosaki makes a point to advocate having friends who keep you “in the loop” about markets, while clearly stating that you should not use insider information in an illegal way.  The point is that Mr. Reed had long since passed the point of reasonable discourse, and had instead launched into such a hate-filled, exaggerated rant that I couldn’t respect his opinion, even though I would have normally agreed with him had he not been so spastic.

I don’t mind people challenging my opinions.  In fact, I understand that it is incredibly valuable in helping me reexamine things I might otherwise fail to  (as long as it is done constructively and intelligently).  When people go about it in the way that Mr. Reed does, though, they may actually end up hurting their own cause more than helping it.

Another thing that turned me off of Mr. Reed’s site was how many times he kept plugging his books right up front.  Comparing and contrasting products seems to me to be a highly effective marketing strategy when done correctly.  Mr. Reed, though, goes about it all wrong.  He launches into full attack mode immediately, getting the reader into an angry mindset (either against Kiyosaki, Mr. Reed himself, or both).  Then, rather than explaining his own credentials or making a case for himself, he just plugs his book.  It just immediately makes me put up my defenses and discount his credibility.  For someone who has an MBA from Harvard, Mr. Reed is an awful, awful marketer and salesperson.

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2 Responses to A Quick Update, and Thoughts on “Rich Dad, Poor Dad”

  1. I agree with you about RDPD being philosophical. I think that annoys some people because they expect to get some sort of “ways to a million dollars for idiots” guidebook in story book fashion.

    I still like Kiyosaki however there are some troubling things:
    1) There’s really no proof-thus far- that there is a “rich dad.” Which is a little sad..
    2) Some of the Rich Dad Classes are mired in scandal. Check out the Youtube videos when you get a chance

  2. joe says:

    The rich dad poor dad series of books are indeed excellent, but has anyone caught the new book “YOU HAVE A COLLEG DEGREE, NOW WHAT?”

    Its an excellent new book and curious if anyone else had read it?

    Joe

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