Kiyosaki was born on Hawaii Island, Hawaii, in 1947. Kiyosaki argues that there are forms of insider trading that are legal and says that he is not suggesting anyone break any laws. This is considered insider trading and is a felony. For example, in “Rich Dad Poor Dad” he advocates asking rich friends for advice on trading stocks based on non-public information. While Kiyosaki’s valid advice is garden variety, some of his more original advice has drawn criticism.
You need to make your money work for you. But your salary doesn’t matter if you spend everything you have.Īt the same time, Kiyosaki believes you can’t reach financial independence simply by working hard and saving. The argument goes that yes, you’re more likely to be financially independent if you make six figures than if you make minimum wage for your whole life. This is an idea you will hear from other financial experts, too, like Chris Hogan. Some other advice from Kiyosaki is that it doesn’t matter how much money you earn. In a 2010 Facebook post, he wrote: “I don’t believe in flipping real estate properties…I look at properties for the cash flow.” Since the housing crash, Kiyosaki has repudiated this money-making practice. On the internet, you can find his articles and videos about house-flipping. Specifically, he recommends real estate assets. You get rich from owning assets that pull in passive income – and scaling up. You can’t get rich from a paycheck, he argues.
And in his hierarchy, employees are at the bottom. public school system teaches kids to be employees, not entrepreneurs. In “Rich Dad Poor Dad,” one of Kiyosaki’s main points is that the U.S. Top Financial Advice From Robert Kiyosaki
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