Most teachers are good people but they don't know anything about money. 1974, the year I left the Marine Corps, was also the year the Employee Retirement Income Security Act, which protected employees’ company pensions, went into effect. “You don’t know what you’re talking about,” they said. To be clear, these are not investments. "I'm very concerned about this growing gap between the rich, the poor and everybody else, said author Robert Kiyosaki. That show and the book went worldwide in an instant. 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.” 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. Robert Kiyosaki is the author of Rich Dad Poor Dad, the number one personal finance book of all time. 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. Every day we are bombarded with news reports and information and opinions. Choose to Be Rich—Click Here. Nixon took the dollar off the gold standard in 1971. The publishers would not publish my book. Reading Fake has tainted my view of Rich Dad Poor Dad a little. Kiyosaki attended High School and graduated in 1965. After that our money was toxic. You must increase your financial intelligence to invest in real assets that provide cash flow and understand the following: By increasing your financial education and knowledge, you too will be able to invest like the rich and easily spot fake assets when you see then…and invest in real assets like a pro. Yet, despite a massive industry of financial planners, rising stock markets, and millions of people investing in instruments like 401K’s and IRA’s, as we see, the rich are getting richer and the poor and the middle class are getting poorer. They keep you from becoming rich. FAKE: Fake Money, Fake Teachers, Fake Assets: How Lies Are Making the Poor and Middle Class Poorer, 3 Simple Steps to Create a Personal Financial Plan, You’re Not Really Rich If You’re Not Giving Back, On the Path to Success, it’s Normal to Fail. Beat conventional advice on personal finance, investing, and business with the author of Rich Dad Poor Dad, Robert Kiyosaki. Robert came here to talk about his brand new book, FAKE, in which he writes about fake money, fake teachers and fake assets. Today, we are all aware that a home can be a liability. An Individual Retirement Account, or IRA, is a fake asset because takes money out of your pocket... for years. When I was young, the conventional financial advice given by people like my poor dad was, “Go to a good school, get a good job, save money, buy a house, and invest in a balanced portfolio of stocks, bonds, and mutual funds.” Most likely this is the type of advice you were given as well. The rich do not invest in fake assets and they do not work for money. This post was contributed by a community member. I had the opportunity to interview one of my mentors, Robert Kiyosaki about how to use debt to get rich. This chart shows that over the last nearly four decades, the rich have gotten massively richer while the poor and the middle class have gotten much poorer. 1 in “Rich Dad, Poor Dad” is: “The rich do not work for money.” The book was on the Wall Street Journal, the New York Times and Businessweek bestseller lists for years. The #1 lesson in “Rich Dad Poor Dad” is, “The rich do not work for money.” Today, I modified that to, “The rich do not work for fake money,” in my new book “Fake: How Lies are Making the Poor and the Middle-Class Poorer.” In this episode, I walk you through a brief history lesson so you don’t fall into the trap of FAKE MONEY. I don’t remember whether it mattered whether he had a Rich Dad or not. Rich Dad Poor Dad Robert T. Kiyosaki looked like a colorful Monopoly board with a giant well-dressed rat in the middle. Some of them are repetitive and that's a theme you'll see in reviews of pretty much all of them. The gap between the rich, poor and everybody else is dangerous. Today we are going to be reviewing a book about business, entrepreneurship, assets and passive income. A mutual fund is a fake asset. My rich dad didn’t buy into this advice because he knew something had changed. That is why a financial education the stuff that is not taught in school is essential for people who don't want to get sucked into this web of fake money, fake teachers and fake assets. 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. Some of them are repetitive and that's a theme you'll see in reviews of pretty much all of them. Kiyosaki believes that it starts with financial education designed to make us smarter with our money―and able to fight what's fake and use what isn't to secure our financial future. Unlike Monopoly, however, there were two tracks: one inside and one outside. Contending that the wealthy have learned to make money work for them, rather than toiling for the almighty dollar, Kiyosaki reveals the secrets to success — his way. 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. ", "The way to be secure for the financial future is to find out information and education not taught in our school system. On May 28, 2018, I was walking past a newsstand, scanning rows One link lead to another, and of course, I found out that Mr. Kiyosaki, the author of Rich Dad, Poor Dad, is a fraud. If we go back to what the school teaches about money most people they say they were taught to balance a check book. by Robert T. Kiyosaki 4.5 out of 5 stars 849. The subtitle of Rich Dad, Poor Dad says it all: "What the Rich Teach Their Kids About Money — That the Poor and Middle Class Do Not!" There was a problem with this. To me Rich Dad, Poor Dad was high school, and FAKE is college. The #1 lesson in “Rich Dad Poor Dad” is, “The rich do not work for money.” Today, I modified that to, “The rich do not work for fake money,” in my new book “Fake: How Lies are Making the Poor and the Middle Class Poorer.” To understand the modification, you must take a brief history lesson. Robert T. Kiyosaki has 169 books on Goodreads with 1028630 ratings. I’m essentially saying the same message,” he said. They are products that banks, the U.S. government, and Wall Street want to sell to become rich. That's fair. Quickly learn exactly how to think like the rich and then do what the rich do to achieve financial independence. He made it by creating a fictionalized account of his own life, and selling a fake "success story" to … Best known as the author of Rich Dad Poor Dad―the #1 personal finance book of all time―Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money.He is an entrepreneur, educator, and investor who believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve. The book offers an insight into the common people, who have not a lot of financial education, … That is the problem with fake assets. He’s on a mission to change the way we look at money and has become a passionate and outspoken advocate … 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. That's fair. Robert Kiyosaki is the author of Rich Dad Poor Dad, the number one personal finance book of all time. In Fake, there is some repetition from previous books but it's not obnoxious. In 1997, Robert’s book Rich Dad, Poor Dad stunned listeners, stating, "Your house is not an asset." Kiyosaki shares his messages about financial education via his Rich Dad brand platform in books and myriad outlets including videos, radio, apps, and … Now Rich Dad, Poor Dad has sold millions of copies to date. Unfortunately, they’re so driven into our minds that it … Register for a user account. I wrote the book Fake because we have fake money today. I've read several of the Rich Dad books, including the original Rich Dad, Poor Dad. Quickly learn exactly how to think like the rich and then do what the rich do to achieve financial independence. People that criticize it usually point out how it doesn't really tell you how to go about achieving these things. 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) Paperback $15.99 $ 15. 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. That brochure became the basis of the book Rich Dad Poor Dad. And many recessions that have wiped out the wealth of millions proves so. How to reinvest gains without paying taxes. They are all derivatives. 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. It's an international tragedy right now. In that book, I shared my rich dad’s simple formula for assets versus liabilities. In his book The Cashflow Quadrant , he refers to four groups of people: the employed, the self-employed, investors and business owners. You also have to pay for all the repairs and taxes, out of pocket. By following this simple formula, you can always tell the difference between a fake and a real asset. In that book, I shared my rich dad’s simple formula for assets versus liabilities. If you’re intrigued, I encourage you to read it and learn more. Why it makes sense to save gold and silver, not fake money. And you poorer. A government pension is a fake asset because it is taking money out of your pocket... for years. As it is, the price is so overblown that there really should be no question as to whether it should work or not. So are stocks, bonds, ETFs, and savings. He delivers insights and answers to help millions of people determine what's 'real' and how to apply that to their financial lives. Full bio. We self-published Rich Dad Poor Dad in April 1997. Today the US Government prints more money faster than you could ever save it and then they reduce the interest on your savings. A 401(k) is a fake asset because cash keeps flowing out of your pocket... for years. The simple definition of a fake asset is one that promises to make you richer but in actuality robs you blind. Unfortunately, I did. 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. Kiyosaki didn't make his money on real estate or convenience stores. Every day we are bombarded with news reports and information and opinions…. “A liability takes money out of your pocket,” rich dad continued. A house that is a primary residence is a fake asset because it is taking money out of your pocket in the form of a mortgage for 30 or more years. This book, Fake, was completed in April 2018—and being edited for release in the Fall of 2018. Kiyosaki has written a new book ‘Fake Money, Fake Teachers, Fake Assets‘. How do we decipher fact from fiction? ", "Secondly, we have fake teachers; they don't teach us anything about money. Their financial knowledge and intelligence allow them to invest in real assets that put money in their pockets each month and make them richer. Since he wrote the previous book, his concern was always how rich are getting richer and poor are getting poorer. can be found on Amazon and most brick and mortar book stores. To them, this was heresy. As howls of protest went up around the world, the book went on to become an international best seller. FAKE DOCUMENTS/PEOPLE/PLANS Robert Kiyosaki, the famous Hawaiian author of Rich Dad Poor Dad, has written a book called FAKE.Magister Operis also has had the misfortune but also irreplaceable (not available in schools anywhere) education of experiencing YEARS of filtering bullshit documents/plans as well as fake people since its founder, William C. Kemper, went off on his own at … How do we differentiate between truth and lies? “An asset puts money in your pocket,” said rich dad. When I read Rich Dad Poor Dad in the 1990s it broadened my horizons tremendously. Kiyosaki kept it a closely guarded secret since the book Rich Dad Poor Dad was first published in 1997. I'm concerned about my fellow human beings especially this gap between rich and everybody else.". 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. Thanks, Reply. They are the ideas the rich have built into society to keep you poor and them rich. After graduating he went to the navy in combination with education. Four years later, 401(k), another financially engineered retirement program, got its beginnings. It became debt. And determine what's real… from what isn't? 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's actually kind of necessary. In today's uncertain times, creating a secure financial future and the peace of mind that comes with it starts with taking action and taking control. Get ahead with his pull-no-punches style of challenging the advice we’ve all been given on money, investing, and the economy. Would you like to know the real life identity of Robert Kiyosaki's Rich Dad? They do so through fees, and they prop up growth by selling more products. Robert T. Kiyosaki’s most popular book is Rich Dad, Poor Dad. 19 AJ | June 11, 2019 at 5:15 am MST. Rich Dad Poor Dad was one of the books that really changed my way of thinking and got me interested in RE Investing and having my own business. As I mentioned at the beginning of this post, the rich have gotten massively richer while the poor and the middle class have suffered over the last nearly four decades. And taxes, out of 5 stars 849 expressed here are the ideas the rich do to achieve independence. 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