Robert Kyosaki’s Fake- how true are his views?

If we all did what Robert Kyosaki told us to do – who would mow his lawn?

If we all did what Robert Kyosaki told us to do – who would mow his lawn?

I have recently read Robert Kyosaki’s book Fake. I already read Rich Dad Poor Dad a long time ago and, on the whole found it a great read with some great motivational advice. He talks of how to spend less than you earn and invest the rest. Brilliant.

FAKE, however has left me feeling irked.

I am not going to be clever and give a full review of the book because I am not knowledgeable enough to be able to argue his points properly. In a nutshell he describes the fake money system we are living in, the impending armageddon of world recession and that unless we all WAKE UP and change today, we are lost.

I won’t argue his points around the fake money system and fake teaching – lack of financial education in school etc as I agree with him. His delivery however is, in my opinion, downright dangerous as for some I think it is likely to cause anxiety and stress in an already stressful area of people’s lives.

I have so many questions about Fake… here are the first five…

1. Kyosaki describes the employed as losers and chickens. Losers for listening to, what he calls fake teachers – namely IFA’s, fund managers, school teachers etc. Money is an emotive subject for so many – is this name calling helpful?
2. Kyosaki talks about NOT paying taxes and how as an employee, your biggest expense will be taxes. He tells us to be entrepreneurs and work out how to avoid taxes. What would happen if we all legally avoided taxes?
3. Kyosaki tells us to buy and hold gold. He tells us to store it in an offshore safe place. How practical is this to the average Joe (loser, chicken)? He talks of the USA, Euro zone, and China stockpiling gold. His message is get on the waggon or you are sunk – again – how helpful is this to the “brainwashed Loser”?
4. Kyosaki makes most of his money from selling books. He is a champion marketeer. Warren Buffet has played the stock market for 60+ years and is one of the richest men in the world. He hasn’t written any books. Many books have been written about him and his success in investing in stocks. Kyosaki says not to buy stocks. Why should I listen to Kyosaki?
5. If every Loser/Chicken was to follow Kyosaki’s advice, who would mow his lawn? Who would clear his trash? Who would treat him when he was sick?

I would recommend that FAKE is an interesting read. I would also SHOUT from the rooftops that you would do VERY WELL, no MUST spend less than you earn and invest the rest, but please don’t feel that you need to follow this bookseller’s advice when it comes to how you spend your working life.

Emotions and money run high. This book, if you are brave enough to read it, may help you to feel anxious. If you are not currently managing your money as you would like to, take many small steps to change. Sure – you could start by reading Rich Dad Poor Dad. Then work out your money flow – look at your income, expenses, liabilities and assets. Please also become very well acquainted with your relationship to money – (got to https://fannysnaith.com/take-money-type-quiz) and think very hard and do lots of research before you quit your job and start a business!

Thanks for reading.

If you have an issue with money and you need help with empowering you to be able to control your financial situation, please ring me now on 01242 854252 or email [email protected] or complete the form at Contact: Contact Qualified Money Coach fanny Snaith