Impatience

When you want to learn skills and do good work, impatience is one of your biggest enemies.

There’s nothing wrong with wanting things to happen fast. In fact, that’s one of the main reasons people and companies innovate. But we have to realize there’s a difference between a desire to achieve things and impatience. The former helps you, the latter harms you, especially your creativity.

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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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A number of people asked me about Robert T. Kiyosaki and his book Rich Dad, Poor Dad. When I said I didn't think he was a real-estate guru, they insisted he was. Several told me I would like him, that he preaches a message like mine.

Key Ideas

"Rich Dad, Poor Dad" is Fiction

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.

"Rich Dad, Poor Dad" contains dangerous advice

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

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.