John T. Reed’s real estate investment blog

Robert Blake In this, Kiyosaki also reminds me of Robert Blake, the movie and TV actor best known for starring in the late-70’s TV series Baretta. Blake’s TV-talk-show appearances were invariably interrupted by audience applause. Why? Like Kiyosaki, he was given to spouting platitudes so grandly and self-confidently that the audience assumed he must have had said something great. He didn’t. [Oddly, long after I posted this comment about Kiyosaki reminding me of Blake, Blake emerged from obscurity when his wife was shot to death as he returned to a restaurant to get the gun that he forgot there. My...

If the advice of “Rich Dad” back in 1955 was so great, how come Kiyosaki says he was homeless and bankrupt 30 years later? (A lawyer checked the federal court records and said no one named Kiyosaki ever went bankrupt. So he apparently is “bragging” about a non-existent bankruptcy. I’m not quite ready to declare him nuts, but that would be evidence if I were.) What kind of financial genius does it take to be homeless and bankrupt when you are a college graduate who had no student loans and were trained as a helicopter pilot by the military. With...

A number of people asked me about Robert T. Kiyosaki and his book Rich Dad, Poor Dad. When I said I didn’t think he was a real-estate guru, they insisted he was. Several told me I would like him, that he preaches a message like mine. Eager to find such a guru, I bought his book, Rich Dad, Poor Dad, in a bookstore. Summary Rich Dad, Poor Dad is one of the dumbest financial advice books I have ever read. It contains many factual errors and numerous extremely unlikely accounts of events that supposedly occurred. Kiyosaki is a salesman and...