Kiyosaki — bankrupt and investor

Robert Kiyosaki is not only the author of motivational books and investment guides, but also an investor and businessman. He is from Hawaii but his parents are of Japanese descent. He was a helicopter pilot in the marines, and when he left the army, he started working on his own. He founded a company that began producing the first nylon wallets for surfers. Another of his company produced T-shirts intended for rock fans. Unfortunately, these adventures ended in bankruptcy. He sold his house and moved to the car.

The bankruptcy made him wonder about the reasons for his failure. After such analysis, he realized that the mistakes he had made were typical for novice entrepreneurs. Thanks to this, a school was established where he and his wife taught financial skills. This school brought him a high profit, because after selling it, he could lead a comfortable life. However, this did not happen. His new multinational company Rich Global LLC was also involved in transferring knowledge about investing and finance. He even used his own games to learn. However, this company also went bankrupt.

In 1993, he wrote his first book. Its title is “If You Want To Be Rich and Happy, Don’t Go to School.” As you can guess, he wrote in it that it is not worth sending children to school and that it is better to start investing in real estate. However, Kiyosaki himself received a very good education in New York. But his most popular book was the one titled “Rich Dad, Poor Dad”. The book is a kind of autobiography. Describing his “poor” father in it, he described a certain type of people who, despite their intentions and commitment to the venture, would not be successful. The title “Rich Dad” was created from the observation of his friend Mike’s father. Thanks to his experiences and learning good practices, Robert was successful.

Kiyosaki is currently promoting investing in cryptocurrencies. Sam says, “I think the dollar is finished as gold, silver and cyber currencies will take its place,” and recommends watching the movements of his investment portfolio. He lists gold, silver, and bitcoin as “healthy money” as they cannot be devalued by reprinting. He also invests in livestock, which is difficult to copy, mainly due to the difficulties associated with it.

Despite its undoubted success, there are numerous criticisms about the content of the books and actual investment skills. Not only is the existence of a “rich dad” questionable, but the books contain bad advice or advice that cannot be followed. It is also disgusting that he offends his critics in his books.

His last book was written over nine years ago. Kiyosaki is keen on giving interviews and is also active on social media where you can read his advice and comments about investing.