Mo’ money
Posted on November 28, 2006 - Filed Under Philosophy |
**This article is being broken up over the next few days. An article in Barron’s that summed up my feelings on this certain topic. Inspiration hit and here is the results.**
I remember the day that someone handed me a copy of "Rich Dad, Poor Dad". The book took two days for me to swallow and another two days to re-read. The book spoke to me on a level that no other book did. The rush that warmed my soul couldn’t be compared to any narcotic sold on the street.
Not that I speak from personal knowledge. Just accept it and let’s move on.
Afterward, I was thrilled to discovered that Kiyosaki had written more books on this topic. I bought them all. The "CashFlow Quadrant" and the "Guide to Investing" were devoured almost as fast as the first book. The buzz was still with me and I wanted that same feeling to continue.
As any avid Kiyosaki fan will tell you, the CashFlow 101 game is really pushed in his books. A game that teaches me about life? Sign me up! Monopoly costs about $30 so CashFlow will probably be in the same ballpark. Well, if your ball park is as big as Kansas it may actually be applicable. The CashFlow game hung out at $200. My wallet closed as fast as it had opened.
The argument I heard was the game teaches you and that alone is worth the price. I remember in college the Freshmen Psychology class I was forced to take was also suppose to teach me something. One thousand dollars later, I still can’t tell you why Pavlov teased those poor dogs.
I couldn’t justify spending $200 on a board game. Granted something could be learned from it. However, the entire reason why I got his first book was because my finances were in the toilet. I was financially illiterate. And now the financial guru who was on a crusade to "elevate the financial well-being of humanity" had already received $50 from me (for three books) and was now asking for another $200.
Who’s financial well-being are we elevating?
But wait! There’s more.
The CashFlow 202 game, a more life-like version of 101, was released and it was at the low price of $100: half the price of CashFlow 101. But you need 101 in order to play 202.
Wait! Act now and you can purchase the "Rich Dad Advisor Series" which consists of 5 or 6 books highlighting different areas to improve your financial well-being.
And that’s not all! Ladies, feeling left out? How about the "Rich Woman" series just for you? From the brain-child of Kiyosaki, his wife Kim has jumped into the act with her collection of books just for women. Her series has now expanded to include a DVD and a workbook for an additional $50! But don’t worry. If the sun is beating down, you can watch the DVD clearly with your "Rich Woman" visor for the unbelievably low price of $25!!
Now Donald is in on the act? Seminars to hear Kiyosaki speak for only $99?
I like Kiyosaki. I like his ideas, his theories. But I’m forced to wonder how many people have purchased every book, every item with the Kiyosaki name on it yet have put none of his theories into practice?
Do people purchase all his merchandise because it makes them feel good?
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8 Responses to “Mo’ money”
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This is why I stay away from many of the “self help” or “how I became…” books. The authors start out with a good idea to help others by sharing their ideas or strategies. Somewhere after a million copies are sold though, American capitalism kicks in. My favorites are the “2nd (3rd, 5th, 42th) editions” released when sales are flailing.
I almost bought the Rich Dad book when you first mentioned it. I picked it up in the book store and reviewed the chapter titles, and read a few of the pages. I realized then I had learned much of it already, for free, at The Motley Fool site.
I guess if you’ve been floundering around, squandering your hard earned money anything you do to stop it is good.
Looking forward to the rest of this story!
Yeah,
I bought many of his books a year ago. I also plunked down $150 for the board game along with the 202. I’ve since stopped buying because they are all basically plugging themselves. If you want to borrow the game let me know, I’m in the area.
I bought and read “Rich Dad”, and then “Cashflow” before I bailed. Then I just went to the library to check out the other stuff, but soon realized it’s all basically the same thing over and over again. The first book pretty much says it all. And I also wonder how can he remember everything that this supposed “Rich Dad” taught him in such detail. Do you think he really exists?
Reminds me of a friend in high school who would buy lots of study guides and stuff and felt good about that, but didn’t really study with them…
I bought two Kiyosaki books (RDPD and Cashflow Quadrant) when I was back in Australia, I would also buy books about Buffett, Soros etc at that time. There were lots of interesting things I learned from Kiyosaki and his books are entertaining…. but I didn’t need to play some game
Mikki, I think this is the new wave in publishing. You come out with a book, with some details, then promise to reveal more in subsequent books or even news letters.
Shawn, thanks for the offer. I do love playing 101 and 202 but I can’t quite stomach spending $300 to get it all!
Paty, I asked Lord Google once if the “Rich Dad” really existed. There are many websites out there, debunking Kiyosaki’s whole story. I personally think that Kiyosaki speaks in terms of parables, instead of actually specific stories.
Moom, the pure act that people are doing something must make them feel better. Even if all they are doing is purchasing a book, at least they’re doing that. And the CashFlow game would probably definitely be beneath you. Every time I read your blog, I’m stunned by your financial analysis that you perform.
I must say that a friend recommended the book and we went out and bought it — well, we were going to the book store anyways and decided to bring it home with us. Liked it a lot, much like your response, and wanted to read more. So — I went to the library and got what I could, it only took one more book to see that he had nothing more to say.
Now, I did get totally hyped about the board game. I love board games to begin with and this sounded great but not for that price tag. Turns out the friends who recommended the book decided to buy the computer game and let us borrow it. We really liked it. They got 202 and we liked it too and had fun playing it. Would I buy them? No. But I love the fact that the daughter (age 11) loves the game and I’ve even heard her making up positive/negative cash flow games with her friends. That is almost worth buying it.
I know that lots of people come down pretty hard on him, but we were aware of one very important point up from — this man is out to make money, which isn’t a bad thing, and we must always keep that in mind.
Donna, the point I’m trying to make is that people should stop trying to buy the everything with Kiyosaki’s name on it. As long as people are buying his stuff, he’s going to keep producing it. He is a business man so why not? But even you admit that after a while, it becomes a bit monotonous and repetitious.
I love 101 and 202. Fortunately, I know a few people that purchased these board games. I throw in pizza, because I’m not a moocher, and we play for hours. It’s great!
I am not surprise if there are numerous people (judging from the sales figure of his books) who bought Kiyosaki stuffs and yet did not take any action. It’s the mentality that most of us have. Reading, learning and educating ourselves is easier than understanding it, digesting in and trying to apply into your life. Reading his book taking a few days, to apply and constantly practice it takes much more effort. As usual, the “law of inertia”(not taking action) wins.