This is Just Too Good Not to Highlight

September 15, 2007

Every once in a while a buried post will get a comment that is just funny. Unfortunately, because these posts are buried, most of you will never see these comments (I only see them because I receive an email when someone comments). Anyway, here’s one that some guy left in response to a Kiyosaki-bashing post I did several months ago. I know it is crazy of me to entertain this stuff, but this is just too funny:

Wow, this blog is totally one sided, I wonder if the moderator is just canning all the Pro Kiyosaki and only posting the anti-Kiyosaki comments. Typically of closed minded neo nazi people.

Anyway, Kiyosaki is very on the mark, Mutual Funds are not the tools for winning, just playing it safe. I invest in vehicle with average annual returns of 36% or greater. What a waste to put your money into a mutual fund. A mutual fund is a diversified product for the unlearned masses who will not take the time to learn the rules of investing.

Think about that, people who don’t know how to invest put their money into an investement vehicle. What do you think happens. Sure, their money grows, for some, but it sure isn’t a great living. Think of all you that have posted comments, are you financially wealthy? The answer is no, and you’re pissed off that your not so you knock others. Robert has some very good points, and I for one am not a staunch follower of his, but lets face it, he has way more money than you, so he probably know more about how money works than you. The guy at the top is always hated.

By the way, every financial person is required to tell you the same thing, all investments are not guaranteed. Once person commented that one person wanted to win big, so he put all him money into the stock on one internet company and lost it all. What about all the mutual funds that owned stock in those companies. What about all the mutual funds that only owned stock in internet companies. What about them? The government requires all register Reps that sell any investment product to disclose to their clients that their money is not gauranteed, and in fact they could loose it all. Frankly, I don’t think that is a strategy for winning, only for loosing.

So the uneducated masses will by this diversified product and slowly build a few dollars for retirement, and like on social security, while the financially literate will live happily and live the type of lives that they dream of while other pinch pennies and clip coupons in retirement and curse out the government for such a low Social Security check and blame everyone else for their problems, but realize that the problems has always been inside of you!! (evident by this ridiculous blog!)

-Aaron

My response:

Aaron,

There’s so much silliness in your comment that I really don’t know where to start.

No, this blog is not one-sided and no I didn’t delete any pro-Kiyosaki comments. There was no need to delete them because THERE WEREN’T ANY! You see, most of the readers of this blog are smart enough to see through Kiyosaki and his mostly-worthless drivel.

The guy at the top is always hated?

Not all guys. What about Warren Buffett?

I invest in vehicle with average annual returns of 36% or greater.

Sure pal. I would love to see proof of your 36% annual rate return.

Your comment makes me laugh because it makes no sense. First you tell us that mutual funds are only for people who want to play it safe. Then, in the very next paragraph you tell us how they are only for losing. It’s really hard to take your comment seriously since it is obvious that you really don’t know what you are trying to say.

I wonder if this guy is the typical Kiyosaki-follower?

25 responses to This is Just Too Good Not to Highlight

  1. I love Kiyosaki. Last year, I was 50K in debt. After reading Kiyosaki and participating in all his programs, I now own 27 different cash generating properties. Unfortunately, I’m about 7.8M in debt also. Wasn’t able to figure out how to get the properties for free.

  2. I think every industry has these types that espouse this rather crazy mindset. For instance, I work in information technology, and I swear every time I come across some teenager that dreams of working for geek squad spouting off about how their uber-vista setup and gaming mouse makes them a l33t hacker… well, I nearly consider just forgetting it all and taking up gardening or something.

  3. I can’t bash Kiyosaki too much since I have only read Rich Dad, Poor Dad. Yet from the one book I have read, he had a few good points hidden within layers of junk.

    I can’t help but think that the mindset Kiyosaki promotes was a major part to the current subprime mess. See CNN’s article Flippers Fuel Foreclosures.

    I believe Aaron (and Kiyosaki) may be trying to say successful entrepreneurs have taken significant risk and probably had many failures and even bankruptcies. If Aaron has some great idea or investment, that’s great, yet successful entrepreneurs are one and a million. If he thinks everyone has that potential, that’s just stupid… almost as stupid as the comment that mutual funds are a useless exercise of the “unlearned masses.”

  4. I will believe Aaron if he can actually provide proof of wealth generated in this way.

  5. Interesting use of the English language. I, too, would like to see the details on this investment of his. I’ve met many people like this, but when I grill them for details, it’s easy to tell they’re completely full of it.

    Anyone using the word ‘nazi’ in response to a financial blog, clearly has enough issues to deal with, maybe we shouldn’t be so hard on him … haha

  6. When I was growing up, my rich dad would tell me to write a feel-good book about absolutely nothing and then get Amway salesmen to sell it to each other.

  7. I read RDPD but found it completely irrelevant to my situation. I don’t have my own business and don’t plan to. Nor am I interested in investing in real estate. Nor do I actually want to be rich…(at least in American terms).

    I note that the poster didn’t mention index funds. Just the mutual funds that failed, because they clearly exemplify all mutual funds available. You’re right to point out his inconsistencies regarding them–“safe” or “loosers”?

    Btw…do people making a 36% return on their investments actually take the time to post on people’s blogs and call them “neo-nazis”?

  8. I credit Kiyosaki for one thing. He got me interested in looking very carefully at the world (financially). That mutual funds were the greatest sales pitch in history was a notion that seemed true on the face of it and disturbing at the same time.

    So I read more. I read everything financial that my public library has. I have access to a university library and free interlibrary loan. So I read everything that anyone suggested might be good.

    In the end, I found people like Warren Buffett and Arthur Levitt and William Bernstein and even Jim Cramer repeated the mantra that Kiyosaki despises (always taking care to minimize expenses of course). At the end of it all, my instinct was that Buffett and Levitt and Bernstein felt trustworthy in some way that Kiyosaki does not. And I especially realized that I did not want the life that Kiyosaki espouses; so even if he might be partially right, he can’t be right for me.

    I learned later that Kiyosaki is rich from selling books, and not from the practices in his books. That matches my instinct. I don’t hold any animosity for him as an author, because in some way he was responsible for “waking me up.” But I wouldn’t trust him either. He’s selling something.

  9. 36% annual return? If you invest $10,000 for 30 years and get 36% return annually you will have over 418 Million Dollars in 30 years! If only!

  10. Well, Graham agrees with Kiyosaki, mutual funds are a safe investment. But unlike Graham, Kiyosaki is extremely speculative and encourages risk-taking, whereas Graham is not. I’m reading the Intelligent Investor right now, and frankly Graham’s advice is pretty conservative.

    I’m not wild about Kiyosaki, but I remain pretty neutral. I have read Rich Dad, Poor Dad and some of his Yahoo articles.

  11. This is my take. If I can learn one good idea/habit/anythingesle that would help me in all areas of my life, I will consider it.

    I listen to what other folks have to say about anything. But, ultimately I should NOT come to a conclusion without checking. If one thinks RK has helped them in making their life better. Good for them. If one thinks, there is no value in what RK has to offer them, just move on.

    Just My Thoughts.
    Cheers
    RV

  12. Mike took he words right out of my mouth. I would suspect that it is folks like this that Kiyosaki tries to distance himself from folks like this.

  13. I think there are a lot of people who are willing to latch onto something and blindly follow it as though it is “the whole truth and nothing but the truth. Anything else is WRONG!”

    I think it is dangerous to do that, and I have a hard time believing Aaron’s comments here – especially the 36% average ROI. You might get that for one year, or for a certain one time payment or investment, but to have it guaranteed and for it to be repeatable and scalable is highly unlikely.

  14. High returns almost always comes with higher risk. Personally I read Kiyosaki when I was 16 in highschool and I do give him a lot of credit in getting me motivated and shaping me into the business minded person I am today. I’m 23 and have pretty much planned out my retirement. So I would say Kiyosaki does motivate for those who are novice to the financial world.

    The problem with Kiyosaki is that some of his advice is reckless. Those who take it too seriously can ruin their lives. He says if 9 out of 10 businesses fail, then start 10 businesses. If the common person took that word for world, he may be bankrupt by the 3rd failure. I have a relative who poured his life savings into a restaurant and lost it all. Unfortunately business or even aggressive investing is not for everyone.

    I think Kiyosaki should stick to fictional stories meant to motivate you to get started in the business or personal finance world. He shouldn’t give specific advice because his situation just doesn’t apply to his target audience. Obviously he has money (primarily from book sales NOT real estate) so he has the option to take higher risks. He can also buy cashflow property because he doesn’t have to leverage as much, he has money for high down payments.

    Anyway, I think this guy who commented is funny. He goes on about how non-educated people settle for low returns yet his horrible grammar, spelling and mindset displays his own lack of education.

  15. It seems that a lot of forums have an ancient Kiyosaki post which attracts nutcases all afroth months after the last sane commenter. Personally I think they’re hilarious; you should read the ones on thesimpledollar. At least this one isn’t ALL CAPS! It’s a little confusing, I mean is there an army of semi-literate people spending their time googling and finding these random blog posts? And shouldn’t they be out researching their 40% deals instead?

  16. Not to be confused with the original commentor, this Aaron thinks that the comment was quite crazy. A guaranteed return of 36% is clearly not possible, and just as some others have noted, if the poster really was making 36% guaranteed return on his money, why would he be posting a comment such as this on this blog?

  17. You can get 36% easy. Just buy bread in Zimbabwe and in 15 minutes, the value of that bread will have gained 36% due to the 15000% inflation rate in that country. Problem of course is you can’t do anything with that gain outside of Zimbabwe.

  18. Take Kiyosaki for what he provides. It is not a detailed guide-book, more like motivational. I personally find his books (just read one, they are all the same) to have a great message. His distaste for retail financial products like mutual funds and generic wealth advisors is totally justified from the point of view of a business person.

    Trouble is many of us are workers, to which he clearly states his advice doesn’t apply. Of course it’s bad, it’s for someone else.

    Put it this way: You wouldn’t advise people to play poker to get rich, but there are top poker players that reliably make lots of money by playing poker.

  19. I love Kiyosaki. His teachings led me into outrageous (and sometimes dishonest) real estate deals and caused great financial hardships. Thus I learned the meaning of life (or at least that’s what people think).

    – Casey Serin

  20. It would help if HE learned to spell. Perhaps he’s part of the uneducated masses? 😉

    Good luck w/ the remodel. We did countertops and backsplashes and it made a world of difference! Next are the hardwood floors…ouch!

  21. I have read Robert Kiyosaki’s book – Rich Dad Poor Dad about 2 years back.Since Donald Trump has JV with Robert to set up a new project together , he must be very special if not he will get fired !

  22. Very funny. I just started reading Rich Dad Poor Dad, or אבא עשיר, אבא ×¢× ×™ in order to practice my Hebrew. Actually I dislike it so much because of the personality behind it that I don’t know if I’ll get through it (that and laziness : ). Kiyosaki seems to place so much value on money, that he has no qualms characterizing his own father as a loser because he wasn’t wealthy. I felt embarrassed for his father. While I think his basic point about investing in assets instead of spending money on stuff is interesting, I don’t care enough about being rich to try most of his other strategies (as I understand them, I haven’t read much of the book). They require as much work as a regular job, and the chances of gaining riches from them I figure as about the same as being very successful in your regular job.

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