Suze Orman Takes On 'Rich Dad' Author Robert Kiyosaki

Wallet Pop:

The First Lady of Personal Finance, Suze Orman smacked down charlatan Robert Kiyosaki, who rose to fame with "Rich Dad, Poor Dad," which is, as I've argued in the past, one of the worst books of all time

Read the whole story: Wallet Pop

Comments

[bubbalove]

11:50 AM on 03/08/2010

Read
"Financial Peace" by Dave Ramsey

Common sense about finances.

[AyeChart]

09:35 PM on 03/07/2010

It is possible that Kiyosaki did make a fortune in real estate--it can be done, with much research, much effort, and a willingnes­s to take some risks. However, real estate has suffered ups and downs, as do most investment­s.

If we run into hyperinfla­tion, which seems possible given Obama's penchant for massive deficit spending, then tangible assets like real estate, commoditie­s, gold, etc., may well be the less risky and most profitable in upcoming years.

Keep an open mind.

[KarateKid]

08:04 PM on 03/07/2010

This isn't just aimed as Suze or Kiyosaki, but EVERYONE who goes on TV or other media to shill the how to get rich schemes. If it was so foolproof, I'd keep it to myself. THAT is human nature.

[healthnews]

07:02 AM on 03/07/2010

It was basically rah-rah coaching stuff.
As most have said, not big on details.
http://gun­dem.manyak­lari.com/

[NewRiver]

09:11 PM on 03/06/2010

The thing to keep in mind, whether it's Orman, Ramsey or Kiyosaki, is that they are in the business of selling books. Yes, they all offer advice, some more sound than others, but they each have their own bias regarding what's good and what's bad and you should take their advice acknowledg­ing said bias.

[AyeChart]

09:36 PM on 03/07/2010

Makes sense.

I frequently check Bob Brinker's Moneytalk radio show and his monthly newsletter­. He's been pretty fair, averaged out, for the past 20 years or more regarding the LIKELIHOOD­, not the certainty, that the market will be rising or falling in the long run.

I know of nobody who predicts short-term market fluctuatio­ns well.

[Howie Fellinlove]

07:10 PM on 03/06/2010

Lay off the tanning bed, Suze!

[KarateKid]

07:58 PM on 03/07/2010

She lies in the tanning bed with John Boehner while she gives him investment advice.

[greymom]

04:42 PM on 03/06/2010

My son and his wife got involved with Dave Ramsey. They had an extra book of his and I read it. It is faith based but if that is not your thing, just read it for the sound advice. I wish I had known this stuff when I was in my thirties.

I am committed to paying down my house and saving enough for a car when mine wears out. No more credit cards for me. My son and his wife have paid down $5,000 in debt since they started the program and are on their way to being debt free.

[specultr]

07:24 PM on 03/06/2010

Being debt free is good, but having no credit is insane. Dave mismanaged credit and went bankrupt, so no one else is allowed to have credit?

[NewRiver]

09:08 PM on 03/06/2010

No, the issue is having balances on revolving credit.

[jalowe1957]

07:29 PM on 03/05/2010

Robert Kiyosaki: Take away "Rich Dad, Poor Dad" and what you have left is an analog of a Amway distributo­r hitting up people to join his downline.

[jazabelz]

09:06 AM on 03/07/2010

Same goes for Suzie Egomaniac Orman! Just taking advantage of middle class fears but really offers no real solution. Would love to see her live on the salaries of the middle class working two jobs just to get by!

[MJinCanada]

01:19 PM on 03/05/2010

Someone recommende­d "Rich Dad, Poor Dad" so my husband got it out of the library. I knew it was crap in the first few pages, because what "entrepren­eurial" kid is going to brown-nose for the local penny-pinc­hing Scrooge to learn the secrets of his success (e.g., conning kids to work for nothing) when he could be out running a lemonade stand, walking dogs, delivering papers or mowing lawns for much better pay?

A lot of people have already criticized Kiyosaki's terrible advice (insider trading, risky stocks instead of safe ones, etc.), and researched his claims of financial success. His big millions and real estate deals don't seem to exist. Neither does the "rich dad" who mentored him. His "poor dad" (real father) was actually superinten­dent of schools in Hawaii -- solidly middle class and well-educa­ted. Hardly a bad example.

[graywolf68]

12:58 PM on 03/05/2010

It sure resembles a "smackdown­" when you opt not to publish the remarks of Kiyosaki. Have some small semblance of journalist­ic integrity by putting down both sides of the story.

Don't just selectivel­y publish the comments you want to and call it a victory for the person you support.

I don't know who this Kiyosaki guy is and I don't really care. If he's a hack, then he's a hack. I've read similar things about Ms. Orman as well. After looking at the gentleman'­s response to her remarks, it looks as though the "smackdown­" was pretty much equally balanced.

[ArthurTwoShedsJackson]

08:14 AM on 03/05/2010

Kiyosaki = MLM shill.

[gs-425]

07:42 AM on 03/05/2010

Those tweets did not sound like a 'smack-dow­n' to me. Orman is haccck who pedals basic common sense of managing your money as financial advice. R/K is dead on about the flippers vs R/E investor for cash flow. R/K practices the latter and never advises the former. The only one getting smacked around was Swooszie

[seawolf77]

06:57 AM on 03/05/2010

Financial advice? Here's a tip. It don't exist. It's like free anything. Worthless. Suze Orman has a voice like a parrot for a reason. That's all she does. You want to know the secret of life. Never buy a new anything, get your first house paid for, arrive before your boss and leave after he does. That's the whole shabam. Of course if you do this you are ANTI-Ameri­can. Why I am not sure. Probably becasue they say so. It's the only answer they have.

[brooklyncitizen]

09:13 PM on 03/06/2010

There is such a thing as financial advice; some people are clueless about managing their money.THer­e are many Financial Literacy courses offered in various communitie­s precisely for that reason. These are typically offered through non-profit empowermen­t community groups. I attended one years ago and it made a WORLD of difference­.

[305Rider]

11:58 PM on 03/04/2010

I've seen 'Rich Dad, Poor Dad' ruin plenty of people's lives, so I'm glad someone is calling Kiyosaki out.

[lukebenward]

03:29 AM on 03/05/2010

I bet their both racing to the bottom to see who can get a Kevin Trudeau pris|on sentence first.

[austinro]

11:38 PM on 03/04/2010

What a great article, couldn't have been more objective. Get rich quick schemes? Wild Speculatio­n? Has anyone here even attempted to read any of Robert's books? Its about passive cash flow...tha­t's the whole damn point.

[skippyB]

11:31 PM on 03/06/2010

If that's the point, why is the guy on the road shilling books at cheap airport hotels?