Jump to content

Our interview with Robert Kiyosaki (Rich Dad Poor Dad)


Recommended Posts

This episode of The Property Podcast has been long awaited. 

After many years of recommending Rich Dad Poor Dad to property investors everywhere, today was finally the day that Robert Kiyosaki joined Rob & Rob for an exclusive interview. 

If you've not listened to it yet, then you need to! And if you haven listened to it, we want to know what you thought of it. What were your main take aways from today's episode? 

Make sure you tune in for next week's episode as Rob & Rob will be sharing their reactions to some of the controversial things Mr Kiyosaki had to say. 

But in the meantime, you can listen to today's episode right here. https://propertyhub.net/podcast/robert-kiyosaki-interview-rich-dad-poor-dad/

Megan Farrow
Marketing Executive

www.propertyhub.net

01_original.png

 

 

Link to post

Firstly, in the news section, Rob mentioned holiday lets and 'staycations'. A staycation is staying in your own home when you're off work. Going hundreds of miles away to a rural/seaside location is a HOLIDAY! Just because it's in the same country, doesn't stop it being a holiday. Making my teeth grind the constant undermining of many people's holidays. 

Anyway, off my high horse.

As for the interview, what was he selling as he does nothing for free? I'm guessing if I look, he's got a course on Crypto or similar.

He's right that a lot of jobs will disappear due to technology, but that's something that's always happened and new jobs are created because of it. It will cause a lot of unemployment but will also create new jobs, so being adaptable will be important, as ever.

Constantly suggesting that the riots are due to people in America not having money is missing some of the major issues happening there that have far deeper problems. Feels like he's hijacking it to make his point seem valid.

A good book for getting anyone started in realising the importance of assets over liabilities, but I wouldn't trust him with £1. 

Link to post

I listened to it during the afternoon school run and good to hear something a little different to the normal podcast. Like you dino, I was waiting for the bit where he suggests joining him and Success Resources at the next Rare Metals and Crypto event. But nice that it was just all discussion without the hard sell.

I lost count the number of times he mentioned Buffet selling off bank and airline stocks. Don't think you need to be a Buffet to realise banks and airlines aren't the best industries to be investing in a pandemic. As with any downturn, gold is seen as the main defensive investment. 

From recollection, Kiyosaki took advantage of the US section 1031 exchange to build his property wealth which would be nice if Rishi introduced!   

Personal Blog: https://abcdad.co.uk
Property Spreadsheet and Deal Analyser: https://abcdad.co.uk/property-spreadsheet
Looking to read some Property books? https://abcdad.co.uk/books/property-books
Follow on Instagram: @abc.dad

Link to post

Just a couple of things for Rob and Rob as they discuss Robert Kiyosaki in there next podcast.

1. If we should follow what Warren Buffett does, instead of says why don’t we all just buy Berkshire Hathaway shares?

2. Buffett selling bank stocks is due to the low interest rate environment and this being bad for bank margins. This probably gives us a better indication that Buffett thinks low interest rates will remain for a while. He can use gold as a hedge to this in case inflation does creep up which will supercharge gold returns before any noticeable interest rate increases benefiting banks.

3. And most importantly. Warren Buffetts mentor was Benjamin Graham who in Intelligent Investor warns against the fictional figure of ‘Mr Market’. This charcterises the forecasters and hypothesisers of the day predicting what’s going to happen in the future. This often results in an investment push towards niche assets due to the doom or irrational optimism they have about the future. Whilst common sense, time honoured, and logical investment often wins over such niche investments. 

I would suggest Robert Kiyosaki is falling into the poor dad mould with his current outlook.

Link to post

Some huge talking points in the podcast! I did also wonder if a hard sell would come out of Kiyosaki. 

What's really interesting is RK touched on the biggest crash ahead. Definitely volatile times but current times are very different to anything we've seen before, in an age that is also very different. Some industries definitely going down but also we're seeing others boom, high streets are dying but ecommerce is flourishing so not convinced we're in the biggest drop ever. We're currently at 88% of GDP and seeing growth every month at the moment as people adapt. 

All that said.... love the point about people sitting on cash at the moment, with governments pumping so much money into the economy, having non sterling assets will be a huge win out of the current situation! 

Link to post

The Keynesian economic system we have of continuous money printing cannot carry on indefinitely. It's creating a bigger and bigger bubble and at some point the bubble has to pop and hopefully then we will go back to sound money backed by gold and truly free markets, and our governments will no longer be able to rob us through money printing.

I love Robert Kiyosaki! But I disagree with him that online teaching is the way of the future. How many parents were not keen to get their kids out of the house and back to school? I think homeschooling is a fantastic thing if parents are committed to it (rather than having it forced on them during lockdown), but the parents I've talked to have said their kids didn't learn or do much over the last 6 months. So I don't think classrooms will be replaced with Zoom anytime soon.

Link to post
1 hour ago, mattbrighton said:

Some huge talking points in the podcast! I did also wonder if a hard sell would come out of Kiyosaki. 

What's really interesting is RK touched on the biggest crash ahead. Definitely volatile times but current times are very different to anything we've seen before, in an age that is also very different. Some industries definitely going down but also we're seeing others boom, high streets are dying but ecommerce is flourishing so not convinced we're in the biggest drop ever. We're currently at 88% of GDP and seeing growth every month at the moment as people adapt. 

All that said.... love the point about people sitting on cash at the moment, with governments pumping so much money into the economy, having non sterling assets will be a huge win out of the current situation! 

I don't think current times are different to anything seen before. This is a great video explaining how the same economic mistakes are being made today that ancient Rome made before it collapsed:

 

Link to post

I’d love to know how the interview really came about? From what I’ve read for of RK he does everything for money and will do a lot for money..... just doesn’t seem the type to call up out of the goodness of his heart! 

 

rich dad poor dad is a great concept but can’t find much to like about RK.
 

didn’t really give a view on property particularly as on ongoing asset clash ( unless we take his promoting of gold silver and crypto as a rejection of property)?

 

 

Link to post

Just listened to it. I thought it was funny when he asked if Rob had heard of Warren Buffet... 

It was pretty much what I expected. I was surprised there was no hard sell though, judging by the comments I think everyone was. 

I still think bricks and mortar are the most secure investments, I think space in places where people want to live is finite, so should be easy to maintain inflation as a return on investment. 

I don't buy that technology will replace everything and everyone... the economy would collapse and it wouldn't be in anyone's interest... at all. It will come and it will create new jobs... as it always has.

As a man with 8,000 rental properties I can't help think property must be a good investment in his opinion too.

Interesting what people have said about gold and crypto... I dont get crypto...how is it different to online banking? (Genuine question). Also I cant help but feel putting  a few grand in to Gold is worth a go. Has anyone bought gold and what are the practicalities in terms of buying it and storing it?

Link to post

Great to hear him on the property hub podcast and I will look forward to the Robs dissection of it.

I listen to his Rich Dad radio podcasts weekly and he has some interesting guests on it, none have anything good to say about the Fed and where the US and global economy is going, over a cliff. So his broad statements here were not new to me.

I also liked Amariino's video posted above, so I'm sharing another video link of this guy Neil McCoy-ward who is also making brass statements which I find interesting.

Mark Ward is from the UK so its why I have started listening to him. Maybe the Robs could invite him on a podcast.

So if these guys are right. What I would like to know is investing in property still a good decision at the moment?

If one buys now, you can get a mortgage to invest and leverage, but also means getting a good discount now is even more important.

If one waits till 2021 when we head over this cliff, will it be possible to get access to the same mortgage lending? I think not.

 

 

Also adding in this link on whether to buy right now or not

 

 

 

 

Edited by martindoc
add additional link and updated the previous link
Link to post

I was very unimpressed by RK. He mostly seemed to be offering opinion which he’d struggle to back up with evidence. He struck me as someone who has let fame go to his head. Some of the opinions he offered were just plain crazy. 
 

A bit more humility from him would be in order. He has gone down a lot in my estimation and I won’t be taking much notice of any of his future proclamations. 

Link to post

Like everyone else on this forum, I wasn't impressed by Robert Kiyosaky, I was quite disappointed with what he brought to the interview and felt like he'd just come on for a bit of a rant. 

I think he said at one point he has "a hundred hotels and a thousand houses" but the vibe I got was an implication we should be steering clear of property and that gold, silver and crypto were the only option

Link to post

I enjoyed his book when I bought it way back and I liked the Robs critique of it but to me he sounded like a guy who is the very definition of hubris. I don't think anyone has  told his he's talking s**t for so long time he now says whatever he wants without challenge. Quite plainly he's wrong on a number of fronts but his status means people won't tell him. That may not matter to us on this forum as we have an alternate view and analyse what he says but some people will believe it all and act on it. But still I'm glad he wrote his book and point others towards it with caution.

Link to post
  • 2 months later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...