John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad, Part 1 - Deepstash
John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad, Part 1

John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad, Part 1

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John T. Reed's analysis of Robert T. Kiyosaki's book Rich Dad, Poor Dad, Part 1

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John T. Reed, a real estate investor, looked into the accuracy of Kiyosaki's best-selling book and found it inaccurate:

  • The Rich Dad is most likely an invention. It's unlikely for an entrepreneur to succeed in construction, restaurants, and convenience stores. Authors history also doesn't match up.
  • Previously Kiyosaki named at least 2 other people as "the best teacher I ever had", making the same claim about the "Rich Dad" sound false.

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According to John T. Reed the famous book is filled with bad advice:

Dangerous advice

  • "If you're gonna go broke, go broke big"
  • Convinces people that college is for suckers

Law-breaking advice

  • Advocates committing a felony: have rich friends for trading stock based on non-public inside information, he says "That's what friends are for."
  • Recommends tax fraud by deducting vacations and health club dues
  • Brags about using a partner weasel clause in which his cat is his partner

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Kiyosaki is making money from a personality cult

Many critics pointed out that Kiyosaki is selling a cult, not financial advice.

He is accused of tapping into the fantasies of the masses & being short on specifics, both attributes of religious cults.

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