Rich dad Poor Dad is a book that so many people know about even those who do not have the slightest idea about finance. It is the book that people mention to show that they are at the top of their financial life for every Tom, Dick, and Harry even when they do not know anything about finance itself.
When we are talking about financial influencers and gurus, Robert Kiyosaki was in the business of financial influencing before the Instagram and YouTube influencers came to be. While I might say that Robert Kiyosaki created so many books revolving around the same thing, it looks like the financial influencer himself isn't financially educated as he has declared bankruptcy and in debt of $1.2 billion dollars.
The lack of personal finance by the majority of people and the fact that accountants and people who are financially literate makes finance complicated is one reason why these financial guru and influencers have been able to grace our screen and our lives in general. One problem with the influencers and their teaching is that it is impossible to sell a solution that with meet the demands of everyone based on the wide range of audience simultaneously while meeting their personal financial problems.
Another reason why these influencers and gurus are making a lot of sale is because they are making their financial advice fun to listen to and will not explain that finance isn't really marketable and it is boring if put into context in reality. In reality, if these influencers were going to be sincere, it means they are going to give tailored productive yet unexciting advises to people who will be willing to listen and learn from it, or they will be give great and exciting promises that appeal to everyone but doesn't target anyone specifically and this is where Robert Kiyosaki falls into.
Wait, it is not like Kiyosaki has been against debt from the beginning, he has been talking about debt to building wealth with debt. He even wrote a book that talked about if you want to be rich and happy, do not go to school, and this book cut across a wide net of people who either do not go to school, regret going to college, or are thinking of going to college with the exuberant amount of college fees but while this book cover a wide net of people, it wouldn't appeal to people who went to college or the university and are successful but who cares since they do not make a large portion of the population, and they are not good customers.
His book Rich Dad, Poor Dad talked about his real father who went to school and would do his entire best to stay out of debt but remained poor while his friend's father who didn't go to school became rich and was able to use the power of debt to invest. While a lot of people believed this story and a lot even regarded it as a true life story, but investigations have shown that the Rich Dad did not exist.
Actually, his teachings are very generic that you will not have to criticize it. They are very simple that you can say it is true and not have anything against it. Very simple things like do not get into debt to purchase cars, or buy liabilities, do not accumulate liabilities and keep tract of your money. While he mentions these things, he never forgets to talk about using debt.
No doubt debt is a good tool when used the right way, but it can ruin you if you use it the wrong way or at the wrong time just like if you had used debt in 2007 before the crash. No doubt Robert is a good investor and business man you would say, but in reality he got rich by selling books on how to get rich and not by what he preaches.
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