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-   -   Is "Rich Dad" real? (http://www.sowpub.com/forum/showthread.php?t=8577)

Dien Rice August 20, 2013 08:34 AM

Is "Rich Dad" real?
 
For many years, I read that Robert Kiyosaki's "Rich Dad" (in his "Rich Dad, Poor Dad" book) was fiction... made up... not real... and that Robert Kiyosaki was a liar...

That is, until I read about his real "rich dad."

Apparently, one of Robert Kiyosaki's best friends in high school (on the big island of Hawaii) was a guy named Alan Kimi. Alan's dad's name was Richard. Richard Kimi was Robert Kiyosaki's real "rich dad."

Richard Kimi died in 2009. After his dad passed away, Alan Kimi revealed that Robert Kiyosaki had learned a lot from his dad, and that his dad, Richard Kimi, was the guy Kiyosaki based his "rich dad" on.

Richard Kimi was a failure - just kidding! He was successful businessman and entrepreneur. His family had a surplus goods store, which, after World War II, was struggling.

Richard Kimi and his brothers took the unsold Army equipment from the surplus store and used it to build low-rent housing. From there, he ended up owning a series of successful hotels all over Hawaii. Richard Kimi also bought the Waikiki Biltmore Hotel, on Waikiki beach, which is now the site of the Hyatt Regency hotel.

You can find more info about Richard Kimi, the real "rich dad," here...

http://the.honoluluadvertiser.com/ar...902010355.html

http://web.archive.org/web/200604231.../About_Us.aspx

Now, I gotta get some golfing... I mean, get some work done! :)

- Dien

Dien Rice August 20, 2013 10:25 AM

Like playing a game, but for real...
 
Robert Kiyosaki often says his rich dad said it was like playing a game. Not like playing hopscotch or the hokey pokey - but like playing Monopoly.

Robert Kiyosaki once said...
"And my rich dad did teach me to be a real estate investor playing monopoly. Whereas my poor dad -- the school teacher -- said, "Put that silly monopoly game away, go back to school, get good grades and get job". And my rich dad would tell me, "Monopoly is...the formula for great wealth is found in monopoly". And we all know the formula to play a great game -- four green houses, 1 red hotel. And I'm like, "Is that all it takes?" And he says, "Yeah". So the difference was my rich dad was actually playing monopoly in real life, so I would go with him -- starting at the age of 9 -- and I actually saw what looked like his 'green houses', they weren't green but he says, "These are my green houses". Then by the time I was 19 -- ten years later -- my rich dad bought a major chunk of Waikiki Beach, he had the 'red hotel' right in the middle of Waikiki Beach. So in ten years I saw him go from nothing to one of the richest men in Hawaii."

From a 2005 interview... http://edition.cnn.com/2005/WORLD/as...yosaki.script/
Now that we know that his "rich dad" was Richard Kimi, it all makes sense.

Richard Kimi played Monopoly, but for real. He built low-rent houses on the big island of Hawaii, then he later built hotels, first on the "big island," then all over Hawaii - just like Monopoly. And yes, he did own a hotel right on Waikiki beach, too - the Waikiki Biltmore Hotel - just like Robert Kiyosaki said.

Maybe I better stop doing the hokey pokey, and bust out that old Monopoly set! :)

- Dien

Phil August 21, 2013 03:28 AM

Re: Like playing a game, but for real... Who's getting rich off Rich Dad?
 
Dien,

Thanks for mentioning those details on you Know Who... :)

So Many different opinions on Just about everything throughout the web, Locally and Globally! ...

Go Figure! Makes for some Very interesting & Creative Niche business Models/Concept(s) in Brainstorming for Ideas these days! ... :cool:

Even from a few years back...

Additional Quick food for thought...

Who's getting rich off Rich Dad? ... ;)

Must watch, listen Video! ...
http://www.cbc.ca/marketplace/2010/r..._dad/main.html

All the best,
Phil

Phil August 21, 2013 03:39 AM

Re: Like playing a game, but for real... Talking about Game related stuff...
 
Talking about Game related stuff... :)

Listen to the [Podcast] on top of the Page, under the Headline! ... ;)

Into the Future...

Think! ... Develop other {Twistable} ideas out/of other Products, Creations, past, present, future and other Opportunity related ideas... :cool:

Dungeons and Dragons: Niche game, big business...
http://www.marketplace.org/topics/bu...rket place%29

All the best,
Phil

ThePromotionalGuy.com August 24, 2013 11:10 PM

Re: Is "Rich Dad" real?
 
I've read his book Rich Dad/Poor Dad and here's the problem I have with Robert Kiyosaki.

He may have learned a lot of business sense from another man, but shinning a bad light on his birth father for not having financial knowledge like the wealthy and then telling the world his poor father was a failure speaks to his character. :eek:

For me I can't bring myself to listen to any speaker, no matter how popular they are, who endorses them or they appear extremely successful that parade their parent's failures for the world to see.

There is no honor or reward in disrespecting one's parents.

I've recently read that RK continues to find himself or his companies in hot water with bankruptcies and legal problems.

Yeah I want to listen to him...NOT!

ron lafuddy August 26, 2013 05:32 PM

Re: Is "Rich Dad" real?
 
Woody,

I think you're right. Old RK seems to blame other people a lot, doesn't he?
In his books, he heaps plenty plenty of blame on his real dad for not being financially intelligent.

In the video he's blaming the company hosting the seminar. Then, later on
it's his partner who's the problem. He never "mans up" and takes responsibility.

I wouldn't trust him any further than I could throw him.

Ron

Dien Rice August 29, 2013 03:57 AM

The valuable part of "Rich Dad, Poor Dad"
 
Thanks Phil,

I don't know exactly what Robert Kiyosaki is doing now. As for me, I read a few of his books a long time ago, and played Cashflow 101 a few times.

I felt that the main benefit in "Rich Dad, Poor Dad" are Kiyosaki's definitions of an "asset" and a "liability."

From memory, Kiyosaki's definitions are:

An "asset" is something that puts money in your pocket

A "liability" is something that takes money out of your pocket.

For example, many people would consider buying a new car as purchasing an "asset." However, according to his definition, a new car is a "liability." Here's why.

One way that a new car takes money out of your pocket is through depreciation - that is, the value of the car goes down over time. After a couple of years, the value of a new car can have reduced by half!

This is a lesson my late father (who was an economist) taught me about new cars. He never bought a new car in his life - though he could afford it. He lost less money by only buying second-hand cars, since the value goes down the most when the car is new.

He once had a new car - his father (my grandfather) gave him and my mother a new car as a wedding gift. However, that was the only time in his life he ever owned a new car.

Anyway, I thought the simple lesson about assets and liabilities was a good one.

Once you know the definition, you should put as much of your money as you can into "assets," and as little as possible into "liabilities!"

I have some thoughts on Kiyosaki and his "poor Dad" too, I'll write more about that later...

- Dien


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