You might want to reconsider his advice after reading this.
Image Credit: Wikimedia Creative Commons
People worship Robert Kiyosaki. I used to, too, but not anymore.
He shot to fame when his book “Rich Dad, Poor Dad” became a bestseller. It was a great book and contained a lot of wisdom.
It was the story of his poor dad (his real-life dad) and his friend’s father, who he considered his rich dad. His poor dad (an employee) was an academic educator who worked really hard and always struggled financially.
His friend’s father, who played the role of Rich Dad (entrepreneur), made all his money from entrepreneurship and savvy investing. His Rich Dad was supposedly smart and a good person. Robert modeled himself on his Rich Dad.
Robert taught us these lessons:
- Don’t work for money — make money work for you.
- Mind your own business — rather than work for someone else’s.
- It’s not how much money you make that matters — it’s how much money you keep.
- Acquire assets — not liabilities you think are assets.
- Spotting opportunity is a skill you can acquire.
- Work to learn new skills, not for immediate income.
- Pay yourself first, even when it’s uncomfortable.
As you can see these lessons are extremely valuable. You can learn a lot about money from the original Robert Kiyosaki.
The Robert Kiyosaki we see today is not the same man.
In a recent interview with Lewis Howes, I began to see a different Robert emerge. I then watched a few episodes from his Youtube show about the current Global Recession we’re in and began to change my mind about him. Another interview with Nugget’s News showed this new Robert again.
Here’s what makes Robert Kiyosaki a poor dad.
He’s Financially Rich, but He Acts like He’s Too Smart
You can be rich and become a terrible human.
Helping yourself to money is nice.
Helping other people do well is true wealth.
The whole way through Robert’s various interviews you can watch on Youtube, he acts like he is too smart for everybody. He uses the label of rich and the label of poor interchangeably.
He blames poor people for being stupid rather than using what he has learned to help them. He assumes that if someone is poor then they are too dumb to be helped. This is a naive and immature way to view the world of money.
How to be a rich dad: Help other people do well.
Robert: The corporate credit and corporate paper market started to go bad in September . Ahhhh…..suddenly…pandemic. Funny how that appeared.
I have watched hours and hours of the Rich Dad Radio Show on Youtube. I had to stop watching. This year Robert has gone on a rant about the pandemic being planned and signaling it only affects old people.
This is misinformation and not based on fact. People need help during this crisis. Using conspiracies to make yourself sound smarter is immoral and wrong.
How to be a rich dad: Stay away from conspiracies and stick with facts backed up by science from multiple sources.
He Rarely Gives His Advice
Lewis: Should an entrepreneur invest in the stock market?
Robert: Find a stupid teacher who is going to tell you what to do.
Lewis: I’m asking your opinion as a teacher.
Robert: I don’t give advice. I wouldn’t follow Warren Buffet either. Pussies invest with Warren Buffett.
Lewis: What’s the investment you make the most in?
Robert:….I made a fortune in 2008. 2020, I’m making more money and paying less taxes.
It was frustrating to see Robert continually dodge questions about what assets people should consider investing in. I saw it in his interviews with Lewis and with Alex Saunders. For someone who owns a financial education company and wrote a book on personal finance, it was painful to watch.
If you’re too good to give advice, then what’s the point of acting like an expert.
How to be a rich dad: Share what you have learned in your life so other people can benefit from your experience.
He Paints a Dire View of the World That Inspires Nobody
Robert: “I’m so afraid of dying.” (Says the millennial.) You’re already dead, you don’t even know it yet. In the marine corp we used to call them’ corps people.’
Are you ready to change the world after that advice? Nope. It makes you depressed and that’s not going to help you.
Listening to Robert’s sarcastic view of the world became too much. The whole time he tells you that it’s over and you’re too late. He can tell you a million ways the world is screwed but rarely will he ever tell you one way the world is good. Money is king and if you don’t have it you’re stupid — that’s how I felt after listening to Robert.
There is so much more to the world than money.
What you get to leave behind when you die is the difference you made. Please don’t worship money and tell people it’s the end of the world. You can do better than that.
How to be a rich dad: Show people the good in the world and how they can use it to make a difference. Seek out the optimistic view more than the pessimistic view that’s easy to describe.
His Ego Is out of Control
Robert: 2020…I’m going to get even richer.
Pay your taxes. I don’t pay taxes!
He’s the best and the rest of us are stupid. That’s how Robert made me feel. Watching his ego rage in the interview with Lewis was difficult to watch. Here’s another example that was hard to hear:
“Are you a peacetime pussy or a wartime fighter?”
There is no wartime vs. peacetime people. (A stupid dictator boss once used this cock measuring phrase with me too).
This war is humanity’s war.
Thinking that if you have money you will be spared is silly. We’re all in this together. If humanity suffers, we all suffer. It’s up to us to make a difference, not sit in your castle and brag about your achievements.
How to be a rich dad: Act humble and get over yourself.
An Evil Laugh
Towards the end of the interview, Robert’s laugh starts to sound more and more evil. He thinks he has it all figured out and we are just stupid employees that do meaningless work because we may not have worshipped entrepreneurship. If you have a job then you’re already an entrepreneur with one customer.
Thinking entrepreneurship is the holy grail is ridiculous.
Being the boss is overrated. An evil laugh makes you a dictator.
How to be a rich dad: Respect the work all people do, even if it’s not your kind of work.
Anyone Can Point out the Problem — but What Is the Solution Robert?
Spotting problems solves nothing.
Everybody is a problem spotter. What makes the difference in society is having the guts to come up with solutions and to take action.
Robert has the ability to come up with solutions and decides not to. Layering problem on top of problem without a solution is unhelpful. Creativity is a beautiful thing we all have access to and using it for solutions is what we must do in these uncertain times.
How to be a rich dad: Present problems followed by as many solutions as you can come up with. Solutions bring the story arc of your life full circle.
What is a Rich Dad?
- A person who helps others.
- A person who shares their advice.
- A person who is humble.
- A person who is kind and generous.
Robert is none of those things and that’s why he is my poor dad. His book was a classic and then he became a doomsdayer. Choose your teachers wisely, says Robert. He’s not a teacher anymore.
I am no longer going to follow the advice of my poor dad, Robert Kiyosaki. Instead, I seek to be guided by a rich dad. Perhaps you do too.
Humble and helpful people make the world go round.
Everybody is one decision away from becoming a person people can look up to.
This takes a lot of guts to admit: The reason I can see Robert acting like a poor dad is because I used to be a poor dad too.
I drove my BMW around the leafy inner-city streets and told everybody they were stupid because they didn’t start a successful business. I abused charities and told them to stop helping dumb people who were poor.
Then I lost everything, and nearly lost my mind due to mental illness. It changed how I thought.
Losing everything made me humble and that changed my life.
There is hope. Even if you act like a poor dad, currently, you can change. All you need to do is focus on how you can be helpful, stay humble, and inspire people in some small way. We can all act like a rich dad who is wealthy in life, financial terms, and fulfillment — the question is, when will you?