check this and drawn your own conclusion http://www.johntreed.com/Kiyosaki.html Now just a preview of what you are about to read --------------------------------------- Wantedâdead or alive? As to the whereabouts of Rich Dadâat one point, Kiyosaki tells Smart Money that he died in 1992. Poor man. Later, he says Rich Dad is still alive, but a reclusive invalid. Uh huh. So how to explain Kiyosaki applying for a trademark on Rich Dad Poor Dad and telling the U.S. government under penalty of prison that the phrase refers to no living persons? Later, he tells Smart Money that Rich Dad was a composite of several persons. ok some more stuff for the lazy mofos that are too laze to check the site ----------------- Smart Money cannot find his deals Kiyosaki claims to have done many highly profitable real estate deals. But Smart Money could not find them in the Maricopa County (Phoenix) records. He claimed to have bought one property for $20,000 and sold it immediately for $60,000. Smart Money could find no purchase for which he paid less than $40,000 (one had no price) and no property which he sold in less than 20 months. When asked about the discrepancy, Kiyosaki said, âI donât pay attention to those things.â Huh? ---------------------- Trading on inside information Kiyosaki says, The reason you want to have rich friends who are close to the inside is because that is where the money is made. Itâs made on information. ...the sooner you know, the better your chances are for profits with minimal risk. That is what friends are for. (page 154) ----------------------------------- The Rolex watch A reader tells me that Kiyosakiâs corporation course says that he bought a $4,000 Rolex watch through his own corporation. He had them deduct it as a bonus to him for his sales that year. 1. Rolex watches are not a good value. They are an extravagance whose main purpose is to enable their owner to show off. 2. A bonus from your employer, whether in the form of cash or goods or services, is taxable income at the federal level, at the state level in most states, and at the municipal level in some areas. If Kiyosaki received a $4,000 Rolex watch from his corporation, he would have to pay tax on that $4,000 of income on his next quarterly income tax return. In other words, from an income-tax standpoint, purchasing the watch through the corporation is a completely meaningless exercise. Whether Kiyosaki buys the watch from his own funds or receives it from his corporation, he is out $4,000 (either as owner of a corporation that now has $4,000 less in its bank account or as an individual who now has $4,000 less in his bank account) and he gets no personal tax deduction whatsoever from it. While it is a deduction for his corporation, so is just paying him $4,000 in cash, and it is also ordinary income to him individually, so itâs a complete wash. 3. I surmise that Kiyosaki is implying this is a clever way to get a Rolex watch for free or at a discount by making it deductible. It is neither. If Kiyosaki does not know what I have just said about this transaction, he is too ignorant of this subject to be writing and lecturing about it. If he does know, then he has a rather low opinion of the intelligence of his readers and an equally low regard for their best interests. ---------------------------------------- 1992 book versus 1997 In 1992, Kiyosaki wrote a book called If You Want to Be Rich and Happy, Donât Go To School? It is âdedicated to Ralph H. Kiyosaki, former Superintendant of Education, State of Hawaii, the best teacher I ever had.â This would be âPoor Dad.â But Rich Dad Poor Dad, which came out in 1997, says pretty clearly that âRich Dad was the best teacher he ever had. So maybe âRich Dadâ was the second best teacher he ever had. No. Actually, the 1992 book also identifies the second best teacher Kiyosaki ever had: F. Marshall Thurber. OK. So maybe âRich Dadâ was third. No. Kiyosakiâs 1992 book has an unusually long acknowledgment section. It lists 111 people, none of whom appears to be âRich Dad.â That is, none are singled out except for his âPoor Dadâ parents, in-laws, business partner, and editors. Mind you, according to the 1997 book Rich Dad Poor Dad, âRich Dadâ supposedly became central to Kiyosakiâs life starting in 1955 when he was nine. So where was âRich Dadâ in 1992 when Kiyosaki was so diligent at identifying the people who had been important in his life? ----------------------------------------- Bestseller status One Kiyosaki supporter (they call him âRKâ), said Kiyosaki has several best-selling books, but heâs never heard of me, therefore Kiyosaki obviously knows what heâs talking about and I donât. (Click here to read that email and others) The list of best-selling books on real estate and related topics includes two excellent ones: William Nickersonâs How I Turned $1,000 in $5,000,000 in Real Estate in My Spare Time and Al Lowryâs How to Become Financially Independent by Investing in Real Estate. But it also includes real-estate/financial authors who later went bankrupt or got locked up for their real estate-related activities like Robert Allen, Wade Cook, Sonny Bloch, Charles Givens, and Bill âTycoonâ Greene. For the most part, the list of best-selling financial authors is a rogueâs gallery. There have also been best-selling books that recommended quack cures, unhealthy diets, and nutty conspiracy theories. Click here to see a list of all the best-selling real estate authors and the various troubles all but one got into. Finally, he gets angry at Smart Money. âIs Harry Potter real? Why donât you let Rich Dad be a myth, like Harry Potter?â That would be fine, Robert, just as soon as you remove Rich Dad from the non-fiction best seller list and go over and compete with Harry Potter on the fiction best-seller list. So I guess the final word is that Rich Dad is as real as Harry Potter. I suppose that, in turn, means that the way to become financially independent is to get a magic wandâor to write book about fictional characters who did. ----------------- And thats only the tip of the iceberg guys. The author comments lots of bad/wrong advices written on the book. Its worth a check. Its damn scary to see how far a scam artist can go.