How a Robert Kiyosaki Seminar led to a $318 Million IPO

28 Replies

I have had no bad experiences with Robert, in fact, his first book helped me. However, his teachings have often done more harm than good in other aspects and I do not blindly agree with everything he says. So many think buying a house is bad because he said it is not an asset when buying a house is the biggest source of wealth for people in the United States. My personal houses helped me buy my first rental and made me hundreds of thousands tax-free. 

If you remember right you came at me on my post and then pointed me to this post. It seems really weird how hard you are fighting for Robert and have avoided my questions. 

1. Did he encourage people to use credit card debt to buy his high-priced coaching at the seminar you belonged to? 

Why do I fight so hard for Robert Kiyosaki @Mark Ferguson ? Because I consider him my mentor (only from books, audio programs and his podcast) and his teachings have shaped me and given me financial freedom. I am obviously passionate about this because my life would be completely different without his influence. My point when I first responded to your post was that what you refer to as "his teachings" are snippets you are seeing. Its like someone pulling a paragraph out of your book with no context and trying to say you stand for that paragraph. He has never said don't buy a house, he just says don't call it an asset (That is his definition and yes you can call it an asset if you want to and you would also be right, its just not his definition). If someone doesn't buy a house because they have heard a quote of his that would be stupid. If someone is going to take someone's advice take the time to actually understand all the information. If they did that their conclusion wouldn't be not to be a house, it would just be to understand what a cashflowing asset and that if you get enough of those to pay your expenses you will be financially free.

The seminar I attended was in 2000 so I can't remember all the details. He definitely didn't recommend paying for coaching on a credit card from stage. I have heard about the high pressure sales that a lot of the consultants do so I understand what you are getting at. I personally wasn't interested in high price coaching as I was a student at the time. I got his free cassette tape and listened to that, then read the books, then read every new book that came out, I did buy his audio programs, I still listen to his podcast and I have reread some books. 

You don't need to follow him, there are plenty of different paths to wealth and happiness and everyone should find the one that works for them. I just can't sit by and listen to someone say he doesn't know what he is talking about when the same concepts you are discrediting literally made me a multi-millionaire. I am saying to anyone listening it IS one potential path, but if you choose to follow it go deep on the learning and don't take action of headlines (and yes don't pay 10's of thousands of dollars for coaching to him or anyone, you don't need to)

Yes taking a paragraph out of a book without context is taking something out of context. 

Posting an entire facebook post with the info associated with it is not taking something out of context.  

Cool story @Stephen Keighery     I was influenced by Robert to an extent as well. I've never attended his seminars and I cant stomach the advertisement-filled bad stock market advice I heard on a podcast of his (is the crash still coming?) but I have been solely on the B and I side of the cf quadrant since 2002.  I still have an old Rich Dad's Prophecy cassette I play in my 20 yo minivan when my boys are riding with me.  Mindset like you said. 

Congrats on your stock IPO.  I hope your ASX company is better than the Angie's list here.  I signed up for a roofing referral and they ended up being hours away.  Glad I gave them my spam email address and bad ph#.  Took weeks unsubscribing to get the sales mail to stop.       

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