It's actually kind of necessary. Robert came here to talk about his brand new book, FAKE, in which he writes about fake money, fake teachers and fake assets. Every day we are bombarded with news reports and information and opinions…. Rich Dad Poor Dad Review. In 1997, Robert’s book Rich Dad, Poor Dad stunned listeners, stating, "Your house is not an asset." My rich dad didn’t buy into this advice because he knew something had changed. Also, unfortunately, even though “Rich Dad Poor Dad” is the best-selling personal finance book of all time with over 32 million copies sold, millions upon millions more have never read the book and are suffering financially today. After realizing what the government was up to, rich dad came up with his lesson #1, which is: “The rich do not work for money.” Rich dad realized money was toxic, designed to steal the wealth of anyone who worked for money, saved money, or invested money in government sponsored investments such as 401(k)s, IRAs, stocks, mutual funds, and ETFs. The rich do not invest in fake assets and they do not work for money. I've read several of the Rich Dad books, including the original Rich Dad, Poor Dad. I wrote the book Fake because we have fake money today. He delivers insights and answers to help millions of people determine what's 'real' and how to apply that to their financial lives. Their financial knowledge and intelligence allow them to invest in real assets that put money in their pockets each month and make them richer. 19 AJ | June 11, 2019 at 5:15 am MST. The way in which the rich are getting so incredibly rich is by using fake assets to steal the wealth of the poor and the middle class. Robert believes that a strong foundation―for anything we want to build―needs to start with solid, true information. If you want to get off the hamster wheel of giving your money away to the rich through fake assets, you must first start with financial education. Kiyosaki kept it a closely guarded secret since the book Rich Dad Poor Dad was first published in 1997. In that book, I shared my rich dad’s simple formula for assets versus liabilities. Today, Robert Kiyosaki still runs his business, speaks all over the world and has written numerous of books on being successful with your personal finance including the greats tools like of the Cash flow board. Get ahead with his pull-no-punches style of challenging the advice we’ve all been given on money, investing, and the economy. Kiyosaki attended High School and graduated in 1965. If we go back to what the school teaches about money most people they say they were taught to balance a check book. Rich Dad Poor Dad was a book in which he explained how a person can achieve financial freedom and live a successful life. I've read several of the Rich Dad books, including the original Rich Dad, Poor Dad. The simple definition of a fake asset is one that promises to make you richer but in actuality robs you blind. Most notably known as the author of Rich Dad Poor Dad, the #1 personal finance book of all time, Robert Kiyosaki is also an entrepreneur, educator, and investor. In a post introducing the ideas behind my newest book, “FAKE: Fake Money, Fake Teachers, Fake Assets: How Lies Are Making the Poor and Middle Class Poorer,” I shared this image. I’m essentially saying the same message,” he said. It became debt. Unfortunately, they’re so driven into our minds that it … Some of them are repetitive and that's a theme you'll see in reviews of pretty much all of them. Most teachers are good people but they don't know anything about money. Then Wall Street tells us to buy fake assets; 401k, stocks, bonds, mutual funds and ETF's (exchanged traded funds) and we are going broke. It has left many people feeling that it provides questionable results. I had the opportunity to interview one of my mentors, Robert Kiyosaki about how to use debt to get rich. Nowhere Else To Go: Grandmother, Millions Of Others Face Eviction, FAKE: Fake Money, Fake Teachers, Fake Assets, 300,000 Dead: Remembering Michiganders We Lost To Coronavirus, Oakland County Deputy Accused Of Slapping Handcuffed Suspect, Farmington-Farmington Hills Weekend Weather Forecast, 11 Good News Stories: Santa Secrets, $1,600 Worth Of Kindness. This book, Fake, was completed in April 2018—and being edited for release in the Fall of 2018. “The world is about to change” ", "Secondly, we have fake teachers; they don't teach us anything about money. Quickly learn exactly how to think like the rich and then do what the rich do to achieve financial independence. Kiyosaki didn't make his money on real estate or convenience stores. Insiders know, mutual fund investors put up 100 percent of the money, take 100 percent of the risk, yet gain less than 20 percent of the profits. The publishers would not publish my book. That brochure became the basis of the book Rich Dad Poor Dad. Today the US Government prints more money faster than you could ever save it and then they reduce the interest on your savings. “An asset puts money in your pocket,” said rich dad. He’s on a mission to change the way we look at money and has become a passionate and outspoken advocate … If you’re intrigued, I encourage you to read it and learn more. The views expressed in this post are the author's own. Reading Fake has tainted my view of Rich Dad Poor Dad a little. Every day we are bombarded with news reports and information and opinions. 99 $19.95 $19.95. The book offers an insight into the common people, who have not a lot of financial education, … This post was contributed by a community member. In his book The Cashflow Quadrant , he refers to four groups of people: the employed, the self-employed, investors and business owners. We self-published Rich Dad Poor Dad in April 1997. Would you like to know the real life identity of Robert Kiyosaki's Rich Dad? The object of the game was to get out of the inside track-what Robert called the “Rat Race” and reach the outer track, or the “Fast Track.” Mutual funds are loaded with fees, fees that make the rich richer. That is why Lesson No. People that criticize it usually point out how it doesn't really tell you how to go about achieving these things. In Fake, there is some repetition from previous books but it's not obnoxious. Want to post on Patch? And it’s a growing one. Banks and Wall Street are fake. Robert Kiyosaki (Rich Dad Poor Dad) offers personal finance education to help you learn about cash flow, real estate, investing, and business building In 2000, Oprah called and I appeared on her show. He graduated with the class of 1969 as a deck officer, and a commission as a 2nd LT in the U.S. Marine Corps. Unlike Monopoly, however, there were two tracks: one inside and one outside. Prior to his 1997 publication of Rich Dad, Poor Dad, Robert Kiyosaki never had any documentation of the wealth he supposedly amassed (Forbes) There really wasn’t a rich dad, even though his book specifically claims there was one (Smart Money Magazine, February 2003) A 401(k) is a fake asset because cash keeps flowing out of your pocket... for years. This is a common diagram for MLMs to refer to, since they are building a business and it’s easy to show that on the Cashflow Quadrant. “A liability takes money out of your pocket,” rich dad continued. 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