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Living and daughter issues

And I really thought he was the real deal

In 2006, when my daughter was based in Jakarta, Indonesia, she spent her free time reading books that "helped her get educated in personal finances". I didn't know that she was reading Robert Kiyosaki, of the Rich Dad Poor Dad series. In fact, at about the same time a former colleague of mine, an IT expert, first mentioned it to me. That friend was all praises for Kiyosaki for all his practical advice on entrepreneurship. That was that.

Before proceeding to Singapore, where she is now based, my daughter decided to send back home her extra baggage. From the large pile of books, I found in her possession many, many books by Kiyosaki and loads of reading materials on 'financial freedom'. To make this story short, I read the Kiyosaki books until I was almost convinced. I thought about posting some of the more interesting information I got along my reading journey. As a final step, I decided to google Robert Kiyosaki. But, that's when my castles all got washed away by the waves, so to speak.

From Wikipedia, I found this about Kiyosaki.

Essentially, it said that "Robert Toru Kiyosaki (born April 8, 1947) is an investor, businessman, self-help author and motivational speaker. Kiyosaki is best known for his Rich Dad, Poor Dad series of motivational books and other material. He has written 15 books which combined have sold over 26 million copies. Although beginning as a self-publisher, he was subsequently published by Warner Books, a division of Hachette Book Group USA, currently his new books appear under the Rich Dad Press imprint. Three of his books, Rich Dad Poor Dad, Rich Dad's CASHFLOW Quadrant, and Rich Dad's Guide to Investing, have been on the top 10 best-seller lists simultaneously on The Wall Street Journal, USA Today and the New York Times. The book Rich Kid Smart Kid was published in 2001, with the intent to help parents teach their children financial concepts. He has created three "Cashflow" board and software games for adults and children and has a series of "Rich Dad" audio cassettes and disks".

Furthermore, he is a " fourth-generation Japanese American, was born in India and raised in Hawaii . He is the son of the late educator Ralph H. Kiyosaki (1919-1991). After graduating from Hilo High School, he attended the U.S. Merchant Marine Academy in New York, graduating with the class of 1969 as a deck officer. He later served in the Marine Corps as a helicopter gunship pilot during the Vietnam War, where he was awarded the Air Medal. Kiyosaki left the Marine Corps in 1974 and got a job selling copy machines for the Xerox Corporation. In 1977, Kiyosaki started a company that brought to market the first nylon and Velcro "surfer" wallets. The company was moderately successful at first but eventually went bankrupt. In the early 1980s, Kiyosaki started a business that licensed T-shirts for Heavy metal rock bands. Around 1996–1997 he launched Cashflow Technologies, Inc. which operates and owns the Rich Dad (and Cashflow) brand".

Up to that point I was still okey, but Lo and Behold:

"Kiyosaki's books and teachings have been criticized for focusing on anecdotes and containing little in the way of concrete advice on how readers should proceed. Kiyosaki responds that his material is meant to be more of a motivational tool to get readers thinking about money, rather than a step by step guide to wealth. He also says the books are supposed to be "interesting" to people, which precludes involving a lot of technical material.

There is also disagreement over how blurred the line is between fiction and anecdote in many of his works. Critics believe that Rich Dad is fictional and that Kiyosaki created him as an author surrogate (a literary device). In the past, Kiyosaki has maintained that Rich Dad actually existed, but that he died decades before the book was first published. However, he has never revealed his name or any other identifying information. Attempts by outsiders to determine Rich Dad's identity have not revealed a conclusive candidate, despite the prominence such a wealthy individual would likely have had in Hawaii in the 1950s. However, in Why We Want You to Be Rich, the book he co-authored with Donald Trump, Kiyosaki positively asserts that Rich Dad really existed".

Oh well, these allegations perhaps are the reasons why my friend never brought up Kiyosaki's name to me again and why daughter never mentioned Kiyosaki as an author she read. AArrgghh!

Now, who will I read next for financial literacy advice?

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