Advertiser Disclosure
X

Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. MoneyCrashers.com does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.

By

Dig Deeper

24,327FansLike
23,459FollowersFollow
41,742FollowersFollow

Become a Money Crasher!
Join our community.

The Financial Advice From Robert Kiyosaki During Economic Recession

Maybe you can figure out what Kiyosaki is trying to say in this article about bad financial advice

Basically, he bashes traditional financial advice, which tells us to ride out the waves of the stock market and continue investing in tax-deferred retirement accounts and mutual funds with strong track records. He starts talking about how investing in real estate made him wealthy, and he depends on his businesses and investments to live. But, then he goes on to say that his advice isn’t for everyone and it’s not for those who work for commission and a paycheck. And he says that he’s not recommending gold, silve, and real estate as good investments right now.

Okay Robert, if you’re warning us against bad financial advice, then what is your financial advice? You consider yourself an expert, right? This article was so wishy-washy, and he never took a position about anything. I’m starting to wonder if he wrote it or one of his little interns wrote it. There are plenty of people who become wealthy the old way, and advising people without the financial means to start investing in real estate is so risky that it’s the kind of risk that will make you go bankrupt. He says in the article that he got started in real estate investing with some “creative financing”. Creative financing is another term for getting financing when you can’t afford the loan. He was persistent and probably didn’t sleep until he had a renter in every one of his properties.

This article just bothered me on many levels, and I wanted to see what you all thought about it. The comments on Yahoo Finance were full of Kiyosaki lovers and haters, and not many people in the middle about his advice. What do you think? Do you think it’s bad advice to tell people to continue developing their “paycheck” career and invest in a mix of stocks and real estate with cash?

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

Next Up on
Money Crashers

Couple Holding Sports Tickets

13 Places to Buy Cheap Discount Sports Tickets Online & Off

More than 1 in 10 millennials have fallen victim to ticket counterfeiting, according to a study by anti-counterfeiting outfit Aventus. You probably know someone...
Online Degrees Worth Costs

Are Online Degrees Worth It? – Cost, Perception & Downsides

According to a 2014 Pew Research report, Millennials - those born after 1980 - are the best-educated generation in the history of the United States....

Latest on
Money Crashers

Sign Up For Our Newsletter

See why 218,388 people subscribe to our newsletter.

What Do You Want To Do
With Your Money?

Make
Money

Explore

Manage
Money

Explore

Save
Money

Explore

Borrow
Money

Explore

Protect
Money

Explore

Invest
Money

Explore