Rich Dad, Poor Dad is one of the dumbest financial advice books I have ever read. It contains many factual errors and numerous extremely unlikely accounts of events that supposedly occurred.
Kiyosaki is a salesman and a motivational speaker. He has no financial expertise and won’t disclose his supposed real estate or other investment success.
Rich Dad, Poor Dad contains much wrong advice, much bad advice, some dangerous advice, and virtually no good advice.
"If you're gonna go broke, go broke big"
Convinces people that college is for suckers
Advocates committing a felony: have rich friends for trading stock based on non-public inside information, he says "That's what friends are for."
Recommends tax fraud by deducting vacations and health club dues
Brags about using a partner weasel clause in which his cat is his partner
Can't keep track of his story
Shouts from the rooftops how rich he is, but refuses to disclose real estate portfolio because he "doesn't want people to know he has money"
Apparently lied about going bankrupt in 1985
Claimed his net worth is $50-$100 million depending on the day; his Rich Dad Poor Dad coauthor said in court that he only made $9 million
His "best teacher ever" changed repeatedly
'92 - Ralph Kiyosaki (Poor Dad)
'97 - Rich Dad
'06 - Buckminster Fuller
I'm not the only critic:
Wall Street Journal: "Rich Men, Poor Advice"
Smart Money Magazine: "Karma Chameleon"
Fiction posing as non-fiction:
Oprah needs to confront Kiyosaki about calling a fiction book non-fiction just like she did with James Frey
He asks why Rich Dad has to be any more truthful than Harry Potter
Admits fictionalizing on copyright page of Rich Kid, Poor Kid
Admits to 20/20 that he doesn't teach people how to get rich
"Marine corps made him what he is today" - he was laterally transferred to the Marine Corp from the Merchant Marine and Navy, he never went through the entry-level Marine training
Lied about desertion while serving in Vietnam (admitted later he just missed the boat)