Who’s Your Rich Dad(dy) Pt.II

This article is interesting. Well, the title is, anyway, don’t bother with the article unless you care about post-Enron insider trading and corrupt trading practices (SNORE). Rich Dad Poor Dad Robert Kiyosaki’s title sums up how I feel about financial “educators” who use their bestselling author fame to sell products. Exactly the things they seem to warn against in their bestselling personal finance books.

I watched a pledge drive with clips from a Rich Dad Poor Dad seminar on PBS a few months ago. I was hoping to garner some useful information. Instead, I got a three hour lecture on accounting basics (same info was covered in 2 pages in my Accounting text book) and the importance of an education. Not once did Kiyosaki give any information that might be considered “education”, other than the primer on assets and liabilities (the accounting textbook 2-pager).

Occasionally, when Hubs and I are feeling exceedingly nerdy, we will do our best Kiyosaki impression. “My Rich Dad taught me that rich people use….words….and they use…w-o-r-d-s to become rich.” (Yes, I am paraphrasing, but I’m not far off). Gee…thanks Rich Dad. How much did you say your bestselling book, oh, excuse me, “books” cost?

I am glad there are people out there raising awareness about financial education, but raising awareness, and actually teaching people how to get rid of debt and start building wealth are two different things. And if your solution to educating the public only includes promo-ing your books, or will kits, or seminars, or whatever other products you are peddling, you are no better than the financial predators who get paid fat commission cheques by skirting around the details of an investment vehicle. This columnist  looks at the critical views some took of Kiyosaki’s PBS pledge drive special. (Scroll down to “On Robert Kiyosaki”.)
There are some smart, honest, do-gooder type people out there. But, those people are hard to find. When you think you have found one, tread carefully. Everyone…and I mean EVERYONE has an agenda. (Anyone want to know what mine is?)