I think the guy is one of the biggest intellectual scammers out there.
He wrote his famous book when working a normal 8 hour job and was nowhere near being wealthy. He wasn't a rich dad. Just a normal guy.
He wrote his famous book when working a normal 8 hour job and was nowhere near being wealthy. He wasn't a rich dad. Just a normal guy.
Yes rich dad buys a car within his means, poor dad finances the brand new truck and doesn't know what "9% APR" means but he's happy cause he can "afford it" (not).
But since the average financial literacy is very low and several people look for the loudest monkey in the room this guy got successful
This book was written in the 90s. It was a totally different information landscape. It's easy to look at it now and say the content is obvious.
I read it when I was young, along with school friends who were also burgeoning "masters of the universe" (ie interested in being "rich"). I think it had some great lessons.
That said, the guy obviously turned into a "scammer", thanks in part to the success of his book. He wrote a book with Trump, for crying out loud.
The book content was okay albeit much longer than needed.
He didn't claim to be rich when writing the book. It was about his actual dad who didn't make much money and his friends dad who did. I thought maybe he'd made Rich Dad up but he turned out to be a real person and financially successful if a bit of an arsehole. (Interview about that https://youtu.be/CRq6sjpo9iU).
The having a lot of debt thing is actually a smart strategy. If you buy a house for cash and hold it for 20 years your net worth is one house. If you buy 100 with debt and hold for 20 years your net worth is about 50 houses because inflation has worn the debt down. That's how property people get rich.