This reminds me of a woman my mother used to work with, who would mention at every opportunity that she had “a degree from an Ivy League university.” She had (I think) a master’s degree from Penn. Penn is a perfectly good school, and it’s nothing to be ashamed of. But by being coy about it, she made it clear that (1) she wanted people to think she went to Harvard or Princeton, and (2) she didn’t actually go to Harvard or Princeton (since someone who went to Harvard or Princeton and wanted to brag about it would say “Harvard” or “Princeton,” not “an Ivy League university”).

Who, like most today, uses the books to step you up to his multi-thousand dollar seminars.

Cheaper to stick with Dale Carnegie and Napoleon Hill for your inspiration.

And re the discussion here about the time on comments/emails, I think Trent puts a lot more thought & time into addressing commenter’s comments and questions than I see on other blogs, and using the comments to drive subsequent posts. That’s what I appreciate most about this blog & keeps me coming back – it’s a conversation rather than just what’s coming out of his head. I’m surprised to hear he doesn’t spend more time than 10 hours!

The bad news is that many of us really have no desire to run a business. Robert Kiyosaki really does leave a lot of detail out. Business building is a process. We need to have the vision for what it could be, but it takes time.

On the subject of real estate, buying properties for no money down and then flipping them is one of the big reasons we got into the financial situation we are currently in. If Kiyosaki really did become wealthy through these types of real estate transactions (and selling his books), then good for him. Most people I know really don’t know much about being a landlord though, and he certainly doesn’t say much about it.

As an advisor, I don’t encouage “no money down” real estate or penny stocks. The best way to “get rich quick” is not to get rich quick.

Most of us do participate in a 401(k) – or 403(b). Most of us are still feeling the pain from the recent crisis, and wondering what to do next. My book, “Help! My 401(k) Has Fallen – And Must Get Up” deals with 401(k) issues we all face and offers advice on how to get more from your long term savings.

Thank you once again Trent for being a guest on the program. You are welcome back any time.

I don’t know where you come from – regionally or economically. But in the lower class neighborhood that I can come from, entrepreneurship was frowned upon. It was never even cited as an option in life and those that tried and failed were negatively ridiculed. In my current region, a entrepreneurship club has been started to try to give support to those that want to try in an effort to change the negative mindset around it.

RDPD has a great message for people with this background – a real eye opening message. Does he you a paint by numbers step-by-step method for achieving financial independence? No. Part of the whole point of being an entrepreneur is figuring out on your own how to provide a product or service that people want or need and how to deliver it profitably. There is no exact road map for that – each situation is different – you have to figure it out for yourself.

Anyone that totally dismisses RK as a charlatan is vastly over simplifying a negative review of his message and ignoring that there is an audience that can comprehend without being spoon fed that there is risk in everything you try but it doesn’t mean that you shouldn’t try.

With that said, I have read most of his books. He re-uses material all over the place and some of his most recent books are borderline gibberish. It is clear that his plan to become super wealthy is based on more and more book sales. It would not surprise me in the least if he becomes a rags-to-riches-to-rags story. (Assuming he even has managed to keep any of his book sale profits and has any “riches”.) He has a few ideas that I haven’t found in other books and he regurgitates them endlessly. Should he be the corner stone of your financial world? Absolutely not! But he can be a great motivator and perspective changer depending on your background.

Yes, I am a hamster on a treadmill. I go to work and do the same things over and over so that my employer makes more money. On many levels it is a fitting metaphor.

If I could do it all over again, I would run my own companies where my ideas were rewarded based on their merits in the market and my efforts and not on what people above my in the hierarchy thought of them. I wish I would have had more control over my destiny and not along for the ride. (I have held important decision making positions in some of my jobs – but there has always been some one above that can veto for reasons that are sometimes devoid of common sense.)

Bring me my hamster food. It is time to graze.

If you feel like you have been spinning your wheels for several decades, maybe you’ve been on the wrong wheels….