The Truth About Rich Dad Poor Dad - What Robert Kiyosaki Does Not Want You to Know
Robert Kiyosaki is one of the most prominent financial advisers today. He has published 18 books which have sold more than 26 millions copies. The first book in the "Rich Dad, Poor Dad" series has been on The New York Times Best Seller List for five years, and has sold more than 11 million copies. Given his popularity, many readers may disagree with the opinions stated in this article, but I will always strive to provide you with an unbiased opinion regardless of its popularity. In my opinion, the book Rich Dad Poor Dad has a lot of non-sense, and in some cases bad advice.
I have to admit that Robert Kiyosaki has achieved some admirable accomplishments. After all, it is not easy to write a series of books that are on the best-seller list for so long. In order to be so successful in this area, he must know something. Yes, indeed, he knows how to sell books. There is no question Robert Kiyosaki is a great salesman. But that does not make him a great financial adviser. Most of what he writes about could be categorized as old money clichés and generalities, without any specific advice on how to improve your finances. But the worst thing about Rich Dad Poor Dad is that it gives people who desperately want an easy solution to their financial troubles the illusion that such easy solutions exist, and in the process it suggests what most financial experts would consider bad advice.
Rich Dad Poor Dad has been able to capture the attention and admiration of many people, including some bloggers. Steve Olson has an article in his blog with the title Why Getting a Good Job isn’t the Best Way to Earn Money in which he says that after reading Rich Dad Poor Dad he realized he needed to build assets for his family. Even Steve Pavlina lists Rich Dad Poor Dad as a recommended book in his blog. But not all bloggers are in Kiyosaki’s camp. PFBlog has an article called Lousy Financial Advices from Robert Kiyosaki and Donald Trump in which he lists a Wall Street Journal review of their new book and comments: “To me, Robert Kiyosaki is a one-trick horse and has almost no credibility of giving sound financial advice.”
A few months ago I watched Robert Kiyosaki on PBS and felt that the entire program was a waste of time. I kept the TV on in the hope that he would at some point give the punch line and tell the audience the specifics of how to be financially successful, but all he did was keep on talking in generalities and platitudes about how you should not be an employee and how you should be a business owner and a real estate investor. There is nothing wrong with being a business owner or a real estate investor. The problem is that Robert Kiyosaki does not talk about the risks and rewards of being a business owner or an investor, and much less about how to become one. Instead, he makes fun of the fundamentals, such as education and diversification.
What kind of generalities does Robert Kiyosaki talk about? He says “the poor and the middle class work for money, but the rich have money work for them”. Is that news to anyone? And even if you were just learning this for the first time, how is that supposed to make you financially successful? Worse than the generalities is the fact that some of the definitions from Robert Kiyosaki’s books and programs are simply wrong. He states that a house is a liability and not an asset. Run that by your accountant and see what kind of response you get.
By downplaying formal education, redefining financial fundamentals, and constantly repeating that he was a C student, Robert Kiyosaki resonates with and gets approval from an audience that does not understand basic financial concepts. He likes to make fun of the formal education system, and touts the types of real estate seminars that he runs as the right type of education. But what these seminars will not teach you is the critical thinking skills that you need in order to become financially successful.
For most people, a formal education is still the best predictor of your future financial success. In the article "How to Increase Your Income" I list the facts about how education impacts your income and I provide real data from the US Census Bureau that proves this fact. Young people who are being influenced by this book and who believe they don’t need a formal education are making a big mistake. Can you imagine if your kids tell you that they decided not to go to college because of what they read in Rich Dad Poor Dad? This is actually happening out there. And it is nothing short of a total disgrace.
Another Kiyosakism that is just plain bad advice is his views of the stock market and 401Ks. He makes fun of mutual funds and 401Ks and, worse yet, says that 401Ks are not investments. The reality is that a 401K with well selected stock mutual funds is one of the best investments that you can ever make. In his PBS show, Robert Kiyosaki put on some large funny looking glasses impersonating and poking fun at a financial advisor who would always say: “Work hard, save money and diversify.” If he is making fun of it, he must think that working hard, saving money and diversifying your investments is a bad idea. I couldn’t disagree more.
John Reed, a real estate investor himself, has done a very long and detailed analysis called John T. Reed’s analysis of Robert Kiyosaki’s book Rich Dad, Poor Dad, which concludes as follows: “I am extremely skeptical as to whether he has done or seen many of the investment things he claims to have done or seen.” Although I can’t attest to the accuracy of John’s analysis, it may be worth reading it or at least scanning it and coming to your own conclusions. If you are interested in what is allegedly Robert Kiyosaki’s response, you can find it here.
Regardless of whether Robert Kiyosaki has done what he claims to have done or not, I would not recommend Rich Dad Poor Dad as a good source of sound financial advice. The only saving grace for Rich Dad Poor Dad is that it may be a source of motivation for some people. If all you are trying to do is get motivated, and the book does the trick for you, then there may be value in that. But if you are looking for sound financial advice, here is what I believe most professional financial advisors would recommend. In many cases these recommendations run contrary to what you hear from Robert Kiyosaki, but none of the fundamentals below preclude you from being an entrepreneur or a real-estate investor:
- Get a formal education – despite of its shortcomings, the data shows that a formal education is still the best predictor of how well you will do financially.
- Save diligently – you can’t accumulate wealth if you spend more than you make, no matter how large your income is.
- Invest in the stock market – despite of its ups and downs, the stock market has historically been the best long-term investment.
- Invest in a 401K or other tax deferred plan – this is the best way to save for retirement as your money grows tax free.
- Diversify your investments through mutual funds – this is a proven strategy that helps reduce risk while maximizing returns.
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Posted: 27 November, 2006 under category Financial Success, Advisors Reviews.
Comments: 25
Comments
Comment written by Administrator
Date and Time: 2006-11-27, 7.25 pm
vbgunz,
I removed the one sentence with profanity from the comment. There is no hate here. You are entitled to your opinion, which I respect, and I am entitled to mine. We just happen to disagree. A house is an asset. The liability is the mortgage. The difference between the two is your equity. If the value of your house decreases, and you end up owing more than the house is worth, you have negative equity. But the financial definition of an asset does not change. Comments are open to anyone, you just need to register and login. Most comments will be posted unaltered unless they contain profanity and other inappropriate content.
Comment written by Administrator
Date and Time: 2006-11-27, 7.31 pm
Comment left via email from Deyl:
Hi,
I tried to post the following comment on your site but it said I had to be logged in. Can you post this as a comment? Thanks!!
Deyl Kearin
I respect your willingness to stand against popular opinion in order to express your thoughts. It also respect your organization’s goal to give to charities and educate about success and other social issues. I think that’s awesome. Why don’t you share your name as the author of such an opinionated article?
I have to disagree with your conclusions in your article. I have read a number of his books and listened to numerous audio programs he made. I cannot commit enough time to refute each point that I disagree with, but I will just summarize my thoughts. Contrary to what you say, I have never heard Kiyosaki say education is “worthless.” I agree with you that he does criticize the education system, but that is much different from calling it “worthless.” He emphasizes getting a “financial education” not instead of, but alongside a traditional education.
You mention that his books don’t give specific advice on how to improve your financial situation and that it is not an “easy solution.” You are exactly right, and he says often that his materials are not “get rich quick” or “hot tips.” He is preaching a different philosophy, a different mindset than most of the population subscribes to. If you want tips and specific advice on how to immediately improve your situation, read one of the books that tells you not to go to starbucks and instead invest the $30/mo that you save into mutual funds. Those are fine books too, but his mission is to change your mindset about working and money.
I’m glad he “gives innocent people the hope that they too can be financially successful, even though they didn’t do well in school…”!! His concepts are simple, but they are VERY hard to put into practice. That is why there are so many people living paycheck to paycheck and “working for money,” because it takes discipline.
Whether Kiyosaki tells the truth in every point of his books and his stories isn’t important. It’s not an autobiography! I’ve learned lots from his stories whether they are true or false. I don’t care about his net worth, and neither should you. If he’s sold 26 million copies of his books I’m sure he’s doing better than you and I! You shouldn’t turn your ears off just because he’s a great salesperson and business man!
All I can say is that of all the financial books I’ve read, his has impacted my wife and myself WAAAYY more than all the ones talking about cutting down on expenses and investing for the long haul. It has changed the way we make life decisions. It has changed some of my friends lives too. All the other ones haven’t.
Again, I appreciate your willingness to disagree with pop opinion. If you want to get rich quick, don’t read his books. However, you may want to reconsider some of his “old money clichés and generalities” unless you want to wait until you’re 60 to retire.
Best,
Deyl
Comment written by Administrator
Date and Time: 2006-11-27, 7.44 pm
In response to Deyl’s email:
Thanks for your detailed comments. I respect and appreciate your opinion. I do think it is a disservice to ridicule formal education, especially as it influences young people. The data shows that a formal education is one of the best predictors of how well you will do financially.
Comment written by Administrator
Date and Time: 2006-11-27, 7.52 pm
Another comment sent via email:
Education is a good predictor of how well people do *on average*. It
is of course important to remember that correlation does not imply
causality. An educated fool is still a fool. And an educated tool
is still a tool. Both can be well-paid but they will never be truely
independent. Intelligence or a combination other attributes may
better predict wealth on average than education.
Mr. Kiyosaki’s books are highly repetitive and tedious but they did
drive home one or two points for me which I consider essential to my
success: Ownership and Thrift. Very simple. It is easy to forget
how your high-paying job and status-oriented lifestyle can keep you
from establishing true wealth. Anyone who aspires to wealth, cannot
hear this message enough. Creating such wealth is not easy and there
are no end of hucksters who would tell us otherwise.
Whether or not there was a real Rich Dad, I have observed the Rich
Dad/Poor Dad dichotomy in the people I know and there is a great deal
of truth to the archetypes. Intellectualism and education can be a
hinderance in the world of business and business education is all too
often an oxymoron.
In the end, I think Mr. Kiyosaki’s advice is more helpful than not
but you need to be able to fill in the details for yourself. If you
want to get rich by following someone else’s plan to the letter, look
elsewhere. Oh and if you must buy his books, buy used.
Best Regards,
Steven
Comment written by Santosh
Date and Time: 2006-11-28, 10.13 am
Hi,
The article is pretty well written. It does to a very large extent correct. In most cases through pratical and rational analysis, I have found the author’s observation to be true.
There is though a concern, the author too true to his complaint of Robert, also fails to provide a detail on how his ideas succeeded unlike those of Robert’s which failed.
As for education, I have a point to note. There is a classical distinction that needs be made here. Does education purely mean attending a college and gaining as many degrees as you can? Or does it mean an evolved process of assimilating know-how acquired by personal experiences, rationale and learning. For in today’s world, what has been learnt in college becomes obsolete very soon. Hence, I would not side by the form of traditional education to be a sure-shot form of determining growth.
For all this, there is a factual cause that needs be defined. In fact what actually happens in most of the cases is that what gets written is always consumed by the reader with the affirmation that what’s in is what’s in. This can be compared to the same effect a movie would have on a captivated audience. For a short while after the movie, they live the roles in the movie and see the world around with the same perspective. This therefore leads to a much larger than life realization when the movie effect wears off, and reality dawns.
In most cases such is the effect of a good resource, be it a book, a movie or a concert.
Robert is also read in the same context. Hence what folks usually believe is that what has worked for the author would also work for them too, without any changes what so ever. This will change with realism dawning, “If it is to be, it is up to me!!â€.
Regards,
Santu!!
(Santosh Ramakrishnan)
Comment written by Administrator
Date and Time: 2006-11-28, 10.40 pm
Santosh,
Thanks for your comments. I have added to the post to address your point about alternative ideas to Kiyosaki’s.
Comment written by Administrator
Date and Time: 2006-11-28, 10.44 pm
Another comment sent via email:
I haven’t read Kiyosaki but I don’t find your arguments persuasive
against his view on education. One plausible explanation for the
correlation between education and income is that education is a
signaling mechanism. That is: being able to get good grades and
complete a degree signals that somebody is smart, hardworking,
capable, able to postpone gratification, and has access to resources
that help them succeed. These same traits promote success in business,
so having a degree makes one more employable even if getting the
degree does nothing to enhance earnings beyond signalling “I possess a
combination of positive traits that enable task completion.”
That signal has value when applying for a job at a company, especially
if it’s your /first/ job. But that signal has much /lower/ value if
you are planning to start your own business or go into a
nontraditional career. If your goal is to work for yourself, waiting
to finish a traditional college degree could well be a bad idea
compared to some of the alternatives.
-Glen Raphael
Comment written by Maine Stay
Date and Time: 2006-11-30, 7.45 pm
Interesting article. I am certainly no authority on this subject as I have only scanned Rich Dad/Poor Dad.
I agree wholeheartedly with your comments on education. I do believe the author of this book was trying to suggest that the traditional views toward earning money might result in an excellent income. But a different way of approaching money could lead to wealth rather than income.
In today’s world a great education may lead to a great income but, $250,000 per year and a well thought out 401(k) doesn’t lead to wealth. It leads to a nice life style for many but, not wealth.
There is nothing wrong with a nice life stlye and the seeking of wealth is no guarantee of achieving that goal. In fact, it is very likely you will not achieve it. Your odds are certainly better if you are educated.
Just some thoughts. I found the book interesting and I reflected on my own upbringing.
Good work.
Comment written by patrick24601
Date and Time: 2006-12-01, 4.38 pm
The irony of this whole post:
Since the author of this post has google adsense at the top of the page, the google adsense recommends ads/links based on the pages content. So the ads I see right now are actually to go purchase Rich Dad Poor Dad whilst the article below the ads recommend against it.
Comment written by Administrator
Date and Time: 2006-12-01, 9.13 pm
patrick24601,
Thanks for point this out. I am trying to filter these ads using adsense filter functionality, but since the ads are constantly changing it is difficult to catch them all. I will continue to work towards improving this.
Comment written by vbgunz
Date and Time: 2006-12-01, 10.01 pm
New Note 39
The John T. Reed analysts should be immediately ripped out of the article… He spews a whole lot of anti-Kiyosaki but makes clear his agenda is to sell a book of his own in which you cannot buy anywhere online or off except through him. To truly understand the agenda, click on the books link and read the paragraph under “The System”. You might not be a hater but John T. Reed is…
The abc 20/20 stunt can in no way and does in no way prove anything good or bad about Kiyosaki. Money plays a factor in investment but it is in no way the only factor that counts. The flip side though looks like this. Have you ever stopped to think of how much FUD (fear, uncertainty and doubt), a show like that injects into the mind of the cynical couch potato? Kiyosaki tries to arm us with positive knowledge and abc 20/20 tries to arm those against us…
The hit on Kiyosaki and Trump is a low blow at best. Here is why. 85% of the people born and raised are programmed to see the world in one grand view. We’re talking a grand view that by adulthood consist of just over 180,000 hours of programming. How long does it take to read a book? 24 hours? OK (180,000 hours of programming) Vs (24 hours of everything you learned was false) = “Enough shock to paralyze a horse”. Would you believe a cynical couch potato wrote the article?
A little off topic but one of the reasons why I love the Matrix (the movie) is because a single monologue went a little like this. “The Matrix is not real. Some people will kill and fight to the death to protect it.” I know it was just a movie, but you can pretty much find the truth any where as long as you keep an open mind and you are willing to accept it as the truth. What you accept as the truth though is up to you and what you make true may have dire consequences.
It is virtually a proven fact that plenty of the richest men in the world dropped out from under there education. Don’t believe me? Check this out http://www.pennylicious.com/2006/10/09/billionaire-dropouts/ It’s a small list because the rest refused to comment 
The reason your house is a liability regardless of equity is because it brings you a monthly bill. It takes money from your pocket in a consistent and timely fashion. Your house is something in which you’re not only responsible for but something you’re in debt too. You might not believe this and say something along the lines of “well I have 50,000 in equity”. Heck, let’s exaggerate it a little and say you have 5 karillion in equity and you own the house and land outright, well, if you’re responsible for taxes and have to pay for them out of your own pocket just to keep it, it is a liability regardless of equity. The only way your liability becomes an asset is when you sell it. If you haven’t sold the house you’re living in for a profit, this might shock you but it will remain a liability until you do so.
Assets make you money, period. You’re house will never make you money until you actually sell it. Either that or open up a brothel 
Comment written by Administrator
Date and Time: 2006-12-03, 11.17 am
Another comment via email:
The best idea I’ve had about book reading is that not to only listen
to what an author has to say, but to analyze why they are writing
what they are. Anyone can pick up a lesson from a short story, but
can you understand why the author wants you to learn that lesson? If
I just say what I learned, you won’t follow, so I let you learn for
yourself.
About the rich men list, does it also list all the people who have
tried and failed?
And I would consider a home an asset. It makes you happy that you
have a good place to stay. Food is an asset, you eat it, and
replenish your energy, so that you can do what you do. If you eat
nasty/cheap/poor food, you complain about it and it detracts from
your concentration.
-TL
P.S. I think it’s funny your blog’s AdSense ads sell kiyosaki books
Comment written by WWS
Date and Time: 2006-12-03, 11.26 am
TL,
See the comment to patrick24601 on 2006-12-01, 9.13 pm. I am trying to filter the ads that sell Kiyosaki books using Adsense filtering tools. I am not allowed to click on the adds themselves, so I have to use a tool provided by Google that shows target ads. Using this tool, I have filtered all the suspect ads, but if anyone clicks on ads selling Kiyosaki books or seminars, please send me an email with the URL and I will add to the filter. I wonder why they advetise this stuff so heavily….
Comment written by WWS
Date and Time: 2006-12-04, 7.39 pm
Comment sent via email:
hi,
i think there is no need to debate about whether his book is true or not true.. just take what’s true according to u.. what’s useful for u.. and ignore the rest…
even if his story is true, and u apply his way on ur job (or whatever it is), that doesnt mean that u’re sure to be rich and even if his story is not true, u might still get some light or benefit from it which may help u to be on ur way to be rich.. it’s all according to each person i think…if they have the right plan, time, ability, etc to be success on enterpreneur… they might really success (or rich or get wealth in anybody
else’s definition), maybe they just need the motivation for it that they might found it on the book… and again.. they still might not success…
and anyway, a house is an asset, cause it’s valuable thing that u possess…assets doesnt always make u money, but it can be turn into money with some process (like rent it or sell it), that’s why it’s called an asset (cause it
can be turn into money when u want.. even though it’s not always liquid).
and about this url :
http://www.pennylicious.com/2006/10/09/billionaire-dropouts/
u can tell by just look at its name (billionaire-dropouts), it’s about dropouts that become billionaire…what about dropouts that doesnt become billionaire ??? how much are
they ??;)
and some of the dropouts listed there may not be an uneducated drop out, they are still a smart educated person that found their own way to the success..
and i dont think all the richest man are dropouts, though like the lists said.. some of the dropouts could still be one of the richest man..
and one more thing… really2 funny that google adsense ads all (not just 1
or 2, but all 4) about kiyosaki on top of ur site…. lol..
- Fire -
Comment written by WWS
Date and Time: 2006-12-04, 7.54 pm
Fire,
Thanks for your comment. I don’t find the Kiyosaki adsense ads very funny, I think they are irritating. I am trying to use filters, but they don’t seem very effective. From what I understand though, not all the ads are selling Kiyosaki material. Some point to sites that are harmonious to the comments on the post. I can’t be 100% certain because I am not allowed by Google to click on the ads myself. I would appreciate a quick email with the URL of any ads promoting Kiyosaki material. Thanks.
Comment written by peter
Date and Time: 2007-01-02, 3.07 pm
“Buy low sell high” seems to be the advice from RK
Comment written by WWS
Date and Time: 2007-01-02, 9.38 pm
Peter,
Yeap, sounds like something he would say. If only more people would listen to that advice…
Comment written by Istok
Date and Time: 2007-01-07, 3.16 am
Watch the PBS show and do a time line of events between him and his wife. I did once and seem to recall the events not coinciding with his increase in wealth. I am watching tonight but I fear I have missed some important dates he mentions.
I think he earned his $$$ from selling books to the unmotivated/uneducated. I am not going to elaborate other than to say: why else would he go on such an aggressive tour promoting, writing, selling and just plain working himself to death to make money from advising. If he has “hundreds of thousands of dollars” coming in from assets why bother? He is all about retiring yet he works more than any one making a decent living from a 9 to 5.
I don’t buy it. This is cultish what he is spewing. It may help a few but all they will get is motivation to yap at parties.
Comment written by guillermo valdivia caldas
Date and Time: 2007-01-31, 2.49 pm
yo pienso que el exito es subjetivo y que todos deberiamos esforzarnos para lograr nuestras metas y no dejarnos influir por escritores que no saben nada acerca de nuestra realidad.good luck
Comment written by bobbie
Date and Time: 2007-02-04, 1.35 am
I appreciate what you have written, however I think to the average person, it is a diservice. And with a 4 year degree in poly sci I cant spell disservice. Anyway, RK does give hope to the masses. That in of its self is valuable.
Next, on education, I belive he says, this is not how you will make your money. Ok whatever, I tend to think education is the only cure to poverty and while I am glad people work jobs, people who work jobs become employees and often are a step above beauracrats. They have a real knack for not getting things done but for talking about how it should have gotten done.
I have been an employee, we are always smarter than the boss, but not as adventurous.
I think most of what is being said in the world is re-hash. But, i think we need rehash, we all need to find our own answers, and it needs to come to us in a way we can understand it. For many, it is RK’s books.
So be it.
At least he is someone most Americans (because most of us make less than 40K a year) can relate to.
Good Luck.
Bobbie
Everyone Loves a Dirndl!
Comment written by bobbie
Date and Time: 2007-02-04, 1.36 am
***oh and google on your page is selling RK tonight….
Comment written by Hernan cordero
Date and Time: 2007-02-06, 9.06 am
En la vida hay muchas opciones. Robert da una y no es una receta de cocina, por lo que debes seguirla a tu manera. Lo importante es cambiar la forma de pensar retrograda del tipo de este articulo. Robert nunca dijo deja de estudiar, dijo estudia y trabaja para aprender y una vez que hayas aprendido dedicate a construir u fortuna, como empresario independiente inversionista o trabajador dependien. Para mi el camino esta en construir mi propio negocio y que el dinero trabaje por mi, para otros puede q no sea asi y prefieran la vida facil de trabajar para otro y recibir un chequesito todos los meses.
Lo que si esta claro es que en un trabajo tradicional nunca ganaras mas que tu jefe y que la unica forma de salir de este techo es ser el jefe.
En el articulo donde esta personita critica tanto a Robert K. no encuentro ninguna respuesta a la necesidad de la gente y no veo q el tenga algo mas interesante que decir respecto a como llegar a tener tiempo libre, seguramente esta persona lee y no entiende nada de lo que lee.
Espero recibir 1000 mails que me digan que estoy equivocado y con sus direcciones hare una lista para que en 3 años mas una vez conseguida mi meta de independencia y libertada financiera mandarles un mail para ir a verlos y explicarles porque la receta del exito de Robert Funciona.
todos se preguntaran porque estoy tan seguro de mi exito, pues bien, porque hice lo primero que dice Robert, dejen de comprar Pasivos y compren ACTIVOS, y que raro, yo que antes tenia una trabajo tradicional bien remunerado hoy he duplicado mis ahorros y tengo mi negocio propio y pronto podre dejar mi trabajo tradicional y dedicarme 100% a mi negocio y en un corto timepo podre ser libre economicamente hablando.
Si alguien por casualidad lee este comentario y se interesa por seguir estos caminos y venir a trabajr conmigo la puerta está abierta para todos aquellos que quieran cambiar su vida
Hernan Cordero
Chile
hcordero@vtr.net
Comment written by Austin
Date and Time: 2007-02-06, 7.35 pm
Robert does not say education does not matter, if you have ever read his book he says kids need “modern education” and schools dont teach kids about money and how to handle it, to become successful.
your article sucks write about something you know about
Comment written by WWS
Date and Time: 2007-02-06, 11.28 pm
Thanks to all of you who have left comments, whether positive or negative. This article is by far the most controversial in the entire site, and ironically the most popular. There have been many positive responses as well as many negative ones. It is obvious that there are differences of opinion when it comes to this book and this author. When this article was first written, the intention was to provide a contrarian view to the message from an author who has gained immense popularity, and raise awareness that there are other data points that you should consider. Some people were thankful for the information which in their own words “opened their eyesâ€. Others seem to have been offended and decided to shoot back. I did not intent to offend anyone, and if I did, I apologize. However, after further reflecting upon this article I feel that it has too much of a negative tone, which is not the tone I intend to set for this site. Therefore, in the spirit of closing a chapter and moving on, I have decided to close comments for this article. But before I do, let me repeat one more time what apparently has not been clear. I am a huge fan of entrepreneurship. I think it is fantastic to see people build their own business and follow their dreams. I believe owning your own business is the right thing for many people. Disagreeing with Kiyosaki’s message does not automatically make you divergent from this belief. And with that, I bring this discussion to a closure. Thanks again.
Comment written by vbgunz
Date and Time: 2006-11-27, 3.14 pm
Please stop hating. Robert is very intelligent and does write about how to think and what to do in his books. Your house is not an asset because it doesn’t make you a dime in cash-flow or profit. For whatever reason, if you stop working, your house will most likely go into foreclosure. There is not a single asset in the world that can do this… So, your house is indeed a liability. Don’t do this. you do more harm than any good what-so-ever. If Robert’s books can change the way you think even in the least effective way, you’ll see money differently and this will of course have an effect on your bottom line. To end my comment, remember this. Failing is a critically important stepping stone to any success. Get over it.
PS. Warn those who wish to comment, they’ll need to join first.