Want to post on Patch? 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. As howls of protest went up around the world, the book went on to become an international best seller. 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. Register for a user account. 1 in “Rich Dad, Poor Dad” is: “The rich do not work for money.” In Fake, there is some repetition from previous books but it's not obnoxious. 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. Robert Kiyosaki, famed author of the New York Times bestseller "Rich Dad, Poor Dad," does not consider gold an "investment," but rather, the only form of currency he considers "real." Paperback $15.99 $ 15. In that book, I shared my rich dad’s simple formula for assets versus liabilities. He is the best at simplifying complex and confusing subjects and he is at it again with his new bestseller, FAKE: Fake Money, Fake Teachers, Fake Assets. 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. This book, Fake, was completed in April 2018—and being edited for release in the Fall of 2018. They are products that banks, the U.S. government, and Wall Street want to sell to become rich. The rich do not invest in fake assets and they do not work for money. Robert Kiyosaki is the author of Rich Dad Poor Dad, the number one personal finance book of all time. In his book The Cashflow Quadrant , he refers to four groups of people: the employed, the self-employed, investors and business owners. If we go back to what the school teaches about money most people they say they were taught to balance a check book. Robert believes that a strong foundation―for anything we want to build―needs to start with solid, true information. 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. Full bio. 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. 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. He made it by creating a fictionalized account of his own life, and selling a fake "success story" to … Most teachers are good people but they don't know anything about money. Kiyosaki didn't make his money on real estate or convenience stores. The publishers would not publish my book. by Robert T. Kiyosaki 4.5 out of 5 stars 849. 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. He delivers insights and answers to help millions of people determine what's 'real' and how to apply that to their financial lives. Robert T. Kiyosaki has 169 books on Goodreads with 1028630 ratings. “You don’t know what you’re talking about,” they said. Rich Dad Poor Dad is Robert's story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing. 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) In Fake, there is some repetition from previous books but it's not obnoxious. It's an international tragedy right now. 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!" That was the start of a massive financial rip-off by “too big to fail” banks, the U.S. government, and Wall Street. On May 28, 2018, I was walking past a newsstand, scanning rows Nixon took the dollar off the gold standard in 1971. Robert Kiyosaki (Rich Dad Poor Dad) offers personal finance education to help you learn about cash flow, real estate, investing, and business building 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. Why it makes sense to save gold and silver, not fake 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. To me Rich Dad, Poor Dad was high school, and FAKE is college. "I'm very concerned about this growing gap between the rich, the poor and everybody else, said author Robert Kiyosaki. Thanks, Reply. Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! In his book The Cashflow Quadrant, he refers to four groups of people: the employed, the self-employed, investors and business owners. A government pension is a fake asset because it is taking money out of your pocket... for years. We self-published Rich Dad Poor Dad in April 1997. Kiyosaki shares his messages about financial education via his Rich Dad brand platform in books and myriad outlets including videos, radio, apps, and … 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. Some of them are repetitive and that's a theme you'll see in reviews of pretty much all of them. That show and the book went worldwide in an instant. So are stocks, bonds, ETFs, and savings. The views expressed here are the author's own. 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. The Rich Dad Scams we’ve identified are, very simply, the things you are taught about money that are wrong. It has left many people feeling that it provides questionable results. If you’re intrigued, I encourage you to read it and learn more. The views expressed in this post are the author's own. Today the US Government prints more money faster than you could ever save it and then they reduce the interest on your savings. 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.” And it’s a growing one. Fake Money, Fake Teachers, Fake Assets: How Lies Are Making the Poor and Middle Class Poorer. The Fake Rich Dad ki Kitabo Se Impress Hai Iske Author bhi Robert Kiyosaki hi hai jihone Fake chijo ke baare me explane kiya hai jo ki hame sahi jankari na hone par financial weak karte hai issi ko Robert Kiyosaki Yani ki iss book ke author ne bakhubi bataya hai. Beat conventional advice on personal finance, investing, and business with the author of Rich Dad Poor Dad, Robert Kiyosaki. But first a quick history lesson. Rich Dad Poor Dad Robert T. Kiyosaki looked like a colorful Monopoly board with a giant well-dressed rat in the middle. 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. If you want to get off the hamster wheel of giving your money away to the rich through fake assets, you must first start with financial education. How do we decipher fact from fiction? I don’t remember whether it mattered whether he had a Rich Dad or not. 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 … 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. That is why Lesson No. There was a problem with this. Suddenly non-investors, men and women without any financial education, were expected to become investors. ", "Secondly, we have fake teachers; they don't teach us anything about money. Kiyosaki attended High School and graduated in 1965. Would you like to know the real life identity of Robert Kiyosaki's Rich Dad? And many recessions that have wiped out the wealth of millions proves so. ", "The way to be secure for the financial future is to find out information and education not taught in our school system. After graduating he went to the navy in combination with education. Rich Dad Poor Dad by Robert Kiyosaki and found at richdadcoaching.com, is a business coaching & mentoring program. Robert T. Kiyosaki’s most popular book is Rich Dad, Poor Dad. When I read Rich Dad Poor Dad in the 1990s it broadened my horizons tremendously. 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. Knowledge is your power. And determine what's real… from what isn't? Today, we are all aware that a home can be a liability. Rich Dad Poor Dad was a book in which he explained how a person can achieve financial freedom and live a successful life. The gap between the rich, poor and everybody else is dangerous. People that criticize it usually point out how it doesn't really tell you how to go about achieving these things. Rather they know the rules of the game now that money is debt. 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. In FAKE: Fake Money, Fake Teachers, Fake Assets, Robert delivers insights and answers that help ordinary people―who probably haven't had a lot of financial education―determine what's 'real' and relevant to their financial lives. Get ahead with his pull-no-punches style of challenging the advice we’ve all been given on money, investing, and the economy. To be clear, these are not investments. Four years later, 401(k), another financially engineered retirement program, got its beginnings. Robert Kiyosaki chose to attend the United States Merchant Marine Academy in New York. Every day we are bombarded with news reports and information and opinions…. In that book, I shared my rich dad’s simple formula for assets versus liabilities. If that sounds like a Ponzi scheme to you, you’re on to something. This post was contributed by a community member. As it is, the price is so overblown that there really should be no question as to whether it should work or not. How to reinvest gains without paying taxes. Rich Dad Poor Dad Review. Unfortunately, I did. 99 $19.95 $19.95. An Individual Retirement Account, or IRA, is a fake asset because takes money out of your pocket... for years. It became debt. 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. Some of them are repetitive and that's a theme you'll see in reviews of pretty much all of them. The book offers an insight into the common people, who have not a lot of financial education, … In 1971, President Richard Nixon took the U.S. dollar off the gold standard — so in 1971, our money became “fake money.” In 1971, our money became “toxic.” Today, our money makes the rich richer but makes the poor and middle class poorer. 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. I wrote the book Fake because we have fake money today. They keep you from becoming rich. “A liability takes money out of your pocket,” rich dad continued. The simple definition of a fake asset is one that promises to make you richer but in actuality robs you blind. They are all derivatives. Liabilities take money from your pocket. Roberts book FAKE: Fake Money, Fake Teachers, Fake Assets and his other books including Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! Reading Fake has tainted my view of Rich Dad Poor Dad a little. “An asset puts money in your pocket,” said rich dad. I've read several of the Rich Dad books, including the original Rich Dad, Poor Dad. Banks and Wall Street are fake. Kiyosaki believes that it starts with education, 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. That's fair. The way in which the rich are getting so incredibly rich is by using fake assets to steal the wealth of the poor and the middle class. 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. And you poorer. Now Rich Dad, Poor Dad has sold millions of copies to date. 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. They are the ideas the rich have built into society to keep you poor and them rich. Today we are going to be reviewing a book about business, entrepreneurship, assets and passive income. 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. Unlike Monopoly, however, there were two tracks: one inside and one outside. Kiyosaki kept it a closely guarded secret since the book Rich Dad Poor Dad was first published in 1997. 19 AJ | June 11, 2019 at 5:15 am MST. One link lead to another, and of course, I found out that Mr. Kiyosaki, the author of Rich Dad, Poor Dad, is a fraud. He’s on a mission to change the way we look at money and has become a passionate and outspoken advocate … Quickly learn exactly how to think like the rich and then do what the rich do to achieve financial independence. Kiyosaki has written a new book ‘Fake Money, Fake Teachers, Fake Assets‘. In 1997, I shared my rich dad’s advice with the world in my book, “Rich Dad Poor Dad.” In that book I shared truths like the following: The so-called financial experts howled. That is the problem with fake assets. He graduated with the class of 1969 as a deck officer, and a commission as a 2nd LT in the U.S. Marine Corps. 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. To them, this was heresy. Choose to Be Rich—Click Here. 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. can be found on Amazon and most brick and mortar book stores. “The world is about to change” It's actually kind of necessary. In 1997, Robert’s book Rich Dad, Poor Dad stunned listeners, stating, "Your house is not an asset." You also have to pay for all the repairs and taxes, out of pocket. That's fair. Remember: Assets put money in your pocket. After that our money was toxic. That brochure became the basis of the book Rich Dad Poor Dad. 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. Apr 4, 2019 - [DOWNLOAD PDF] Fake: Fake Money, Fake Teachers, Fake Assets: How Lies Are Making the Poor and Middle Class Poorer by Robert T. Kiyosaki Free Epub/MOBI/EBooks Unfortunately, they’re so driven into our minds that it … Every day we are bombarded with news reports and information and opinions. It's actually kind of necessary. 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. My rich dad didn’t buy into this advice because he knew something had changed. I had the opportunity to interview one of my mentors, Robert Kiyosaki about how to use debt to get rich. By following this simple formula, you can always tell the difference between a fake and a real asset. A mutual fund is a fake asset. by David Harris. How do we differentiate between truth and lies? Since he wrote the previous book, his concern was always how rich are getting richer and poor are getting poorer. A 401(k) is a fake asset because cash keeps flowing out of your pocket... for years. I’m essentially saying the same message,” he said. Want More Financial Security? Quickly learn exactly how to think like the rich and then do what the rich do to achieve financial independence. That is not money. In my new book, “FAKE: Fake Money, Fake Teachers, Fake Assets: How Lies Are Making the Poor and Middle Class Poorer,” I go into much greater detail on this. They do so through fees, and they prop up growth by selling more products. Mutual funds are loaded with fees, fees that make the rich richer. The book was on the Wall Street Journal, the New York Times and Businessweek bestseller lists for years. The institution of the 401K gave birth to an entire industry of so-called financial planners who are really professional salespeople trained to sell paper assets like stocks, bonds, and mutual funds for commission. 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. Robert Kiyosaki is the author of Rich Dad Poor Dad, the number one personal finance book of all time. Robert came here to talk about his brand new book, FAKE, in which he writes about fake money, fake teachers and fake assets. I'm concerned about my fellow human beings especially this gap between rich and everybody else.". In 2000, Oprah called and I appeared on her show. I've read several of the Rich Dad books, including the original Rich Dad, Poor Dad. How do we determine what's real from what isn't? 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. Now Rich Dad, Poor Dad has sold millions of copies to date. 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. About my fellow human beings especially this gap between the rich and else... 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