Kiyosaki’s Words of Wisdom
There is a saying that goes, “When your picture appears on the cover of Time Magazine, your career is over.” If you have access to the June 13, 2005 issue of Time Magazine, you will see a picture of a man hugging his home. The title and subtitle say, “HOME SWEET HOME: Why we’re going gaga over real estate.”
There is another saying that goes, “As General Motors goes, so does the U.S.” Well, today, both General Motors and Ford have had their corporate bonds downgraded to “junk bond” status.
Rich dad would say, “As one party ends, another begins.” This real estate bubble has made many people very, very, rich. I hope it has made you rich. It has certainly made Kim and I very, very rich. But in my opinion, this party is over… so see you at the next party.
Despite his being widely disliked, I think Kiyoski makes some excellent points. The real estate boom is over (especially in places like California and Florida). You have to blind and deaf (or maybe just incredibly naive) to think otherwise.
The US government is essentially bankrupt. It has trillions of dollars worth of debt on the books. Not a good sign.
But there’s always a bull market somewhere. If you keep your eyes and ears open, you’ll always make money. You just need to get there before everyone else. As Milton Keynes once said, “The art of investing is anticipating the anticipations of others!”.
PS: Kiyosaki was quoted from an August 2005 article which you can read here.
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May 18th, 2007 at 4:18 pm
You say, “As Milton Keynes once said, ‘The art of investing is anticipating the anticipations of others!’.”
I think you mean John Maynard Keynes. See http://www.knowprose.com/node/12581. Scroll down a ways.
May 21st, 2007 at 4:05 pm
Except he didn’t make his money in RE, he made it as a “motivational” speaker.
May 21st, 2007 at 7:04 pm
I don’t care how he made his money, I made my money in Real Estate.
In less than 5 years, I increased my networth from zero to almost 10 times my annual income through real estate investing. And it was directly through the encouragement of Kiyosaki.
Everyone’s entitled to earn a living. Saying that he profits from his advice is like saying that Doctors profit from disease. Its true, but so what?
May 22nd, 2007 at 2:46 pm
You could also say that a blind squirrel finds a nut now and then; and
A stopped clock is right twice a day.
August 5th, 2008 at 1:20 am
“Saying that he profits from his advice is like saying that Doctors profit from disease. Its true, but so what?”
This is so funny. In your analogy, you COULD have compared RK’s “advice” to the knowledge/ skills/ drugs that doctors dispense; and you could have compared the “disease” the doctors cure to the problem of “non-richness” that RK’s advice is meant to solve.
But no. For whatever reason, you think RK’s advice is NOT analogous to a doctor’s knowledge/ skills/ drugs; you think his advice is analogous to the disease.
Good one!