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Wow! That's wild.

I agree Deltaberry, it's just kiyosaki's idiosyncrasy. From what I see he doesn't advocate staying out of shares like he does with mutual funds, & I think he does trade dirivatives, so his position is less extreme on shares.

Sure, so it's a company structure but self employed by nature, which is a smarter way of operating huh?!

Wow, those management fees are killers in disguise. For U.S. stocks there's Guru Focus that tracks various big wigs portfolios (not sure if there's a similar Aussie site). This type of tactic would incurr way less in fees & you build a portfolio which the big guys have in their own portfolio...

Hi Graemsay, I'd have to say that my main discrepancy with Kiyosaki is that many of the details were a long time coming. He began with ideas that needed expanding on quite a lot & those ideas have been trickle fed really. To the point now where many of the fresh stuff is only accessible through...

Here are the headline points on John T Reed's blog along with my take on them. Personally I don't care what his BS meter says. Reed fails on many counts, most often is taking single sentence out of context. and he fails to take into account that kiyosaki's stories are educational and aimed...

I agree, and as this thread is about Kiyosaki I suggest we make comments based on his language & systems. In this case what I see him saying is what you've said, a self employed person should operate under a company structure - a company by definition has more than one director & so there is no...

Sure,,,,,.

Sure Aaron, everyone is going to have their definitions. As this thread is about Kiyosaki I'm using his definition. In the book 'Cashflow Quadrant' there are four sectors, ESBI. Employed, Self Employed, Business & Investor. Business & investor get all the tax benefits because they 'produce' more...

Absolutely. It's government stimulus that promotes productivity & job creation. Unlike FHOB which is counter-productive, increasing the cost of housing along with the private finance burden.

Yeah but OPM is my term, which I used because I knew people would know it. RK uses the term Infinite ROI. He is saying that if you quickly move to a position where you have none of your own money in the deal, and it's cash flowing, then you don't have to care if the market dives. Not easy to...

Graemsay you must have read a kiyosaki book that I haven't because that's not what I read at all. According to Kiyosaki self employed are the highest taxed so self employment is out. He is mostly about three things:- Create income using OPM, use legal methods to avoid tax, assest protection...

Fair enough, I understand your inspiration is elsewhere. I've read Jan Somers & Peter Spann & many others & I'm sure I've got something from all of them.

The story goes that he went broke when he let his business success (velcro wallets) go to his head, he bought cars & houses on credit. Gold was a relatively small investment at the time for several reasons. One, it relies on the government becoming hooked on printing money which would take...

That may be true PB, but this is not about whos calls were better. It's about the likelyhood that RK would've made-up all this stuff to sell books ( with no intention to invest ) and then been right about it. If that's true then I'd say he's a loser.

Let's look at that. Your assertion is that he made his money writing books. He says he & his wife retired in 1994 after becoming financially independant by buying foreclosure investment real estate. He came out of retirement in 1997 to write "Rich Dad Poor Dad". Anyway lets get back to you...

Ok I see, you're asserting that he's simply made up stuff in order to get an audience. Why didn't you just say that? The trouble is that he actually goes own oil wells (the comapny name escapes me) & several thousand apartments (with Ken McElroy) & has a couple of listed companies. & he has...

Ah, I think the idea is the stories are meant to help educate. It's irelevant whether they're true or not. Kiyosaki always said his "rich dad" was a very private man & many people claim he doesn't exist. But there's a recent video of kiyosaki online where they give quite a lot of detail about...