For today’s generation, Robert Kiyosaki’s name may not be so well-known. However, he is a famous author, investor, and motivator, whose books have been on the “New York Best Seller” list for years.

Robert Kiyosaki once collaborated with former US President Donald Trump. Although he now enjoys success and financial freedom, his career journey began with many obstacles.

He has faced various bankruptcies, but he never gave up and continued to try until he achieved the success he has today. Through his books, he tries to help many people achieve the same success.

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Who is Robert Kiyosaki?

Robert Kiyosaki is an entrepreneur, educator, investor, and author of Rich Dad Poor Dad, one of the best-selling personal finance books of all time.

Kiyosaki is a frequent guest on international media outlets and is the host of the “Rich Dad Radio Show,” a podcast where he and guests discuss topics ranging from the history of banking to the state of the global economy.

A strong proponent of entrepreneurship, Kiyosaki has built a financial education empire that includes board games, courses, and coaching.

In addition to Rich Dad Poor Dad, he has written more than two dozen books, including two with Donald Trump before his presidency. Kiyosaki is assisted in this endeavor by his wife, Kim, whom he married in 1986.

Early Life and Background

Robert Toru Kiyosaki was born on April 8, 1947, in Hilo, Hawaii, to a Japanese-American family that highly valued education.

His father, Ralph H. Kiyosaki, was an academic and education official, whom Kiyosaki refers to in his books as “Poor Dad.”

The “Rich Dad” figure in his life, meanwhile, was the father of a friend who became a successful businessman despite having no formal education.

Kiyosaki attended Hilo High School, then continued his education at the Merchant Marine Academy in New York, where he graduated with a Bachelor of Science degree in 1969.

He then served as a helicopter officer in the United States Marine Corps during the Vietnam War.

Entrepreneurial Career

Kiyosaki’s entrepreneurial career began in 1996 when he and his wife created and launched the board game “CASHFLOW” to teach people about money and investing in a fun and entertaining way.

In 1997, Kiyosaki wrote Rich Dad Poor Dad and with his wife founded “The Rich Dad Company.” Today, the book and board game are more popular and relevant than ever.

Famous Works

In addition to Rich Dad Poor Dad, Kiyosaki is known to have written more than 2 dozen books. Here are some of the most famous titles written by Robert Kiyosaki:

Capitalist Manifesto
Rich Dad’s Increase Your Financial IQ: Get Smarter With Your Money
Rich Dad’s Guide to Investing: What the Rich Invest In, That the Poor and Middle Class Do Not!
Rich Dad Poor Dad for Teens
Rich Dad’s Who Took My Money?: Why Slow Investors Lose and Fast Money Wins! (Who Took My Money?: Why Slow Investors Lose and Fast Money Wins!)

Of these works, Rich Dad Poor Dad is the book that catapulted Kiyosaki’s name in 1997.

This book reveals the myth that to be rich someone must have a high income, using the example of Kiyosaki’s biological father and the figure of the “rich dad” who became his mentor.

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Kiyosaki’s Financial Philosophy

Kiyosaki’s philosophy on money is very simple, namely that you don’t need to have a high income to be rich. According to him, the key to building wealth lies in the following 2 things:

Building a portfolio of assets that generate passive income

Minimizing debt

Kiyosaki emphasizes the importance of accumulating assets rather than simply spending money on “stuff”. He also encourages the development of financial knowledge, not only through books and courses, but also through direct experience.

In Kiyosaki’s view, by learning about money and how it works, generating passive income, and avoiding unnecessary debt, a person can achieve financial freedom.

Kiyosaki is also a big supporter of entrepreneurship and finding ways to generate income outside of the typical nine-to-five job.

This is in line with his emphasis on passive income generation, either through investment or business activities that do not require regular direct involvement to operate.

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Kiyosaki’s View on Bitcoin

Quoting the news.Bitcoin.com page, Robert Kiyosaki has long recommended gold, silver, and Bitcoin. He is also known to have made several predictions regarding the prices of the three assets.

Not long ago, the author of the book Rich Dad Poor Dad stated that the price of Bitcoin (BTC) would reach $135,000, while gold would soon skyrocket.

In August 2023, Kiyosaki said that in the event of a global economic crisis, the price of Bitcoin could soar to $1,000,000, with gold reaching $75,000 and silver rising to $60,000.

In February 2023, he projected that the price of BTC would reach $500,000 by 2025, while gold could rise to $5,000 and silver could reach $500 in the same time frame.

The previous month, the renowned author advised investors to buy Bitcoin immediately, noting that he expected a major wave of BTC purchases as the stock, bond, and real estate markets crashed.

He also expressed his confidence in the future of crypto assets, saying that fiat money is “destroyed” and describing it as “fake money.”

In his view, gold and silver are “God’s money,” while Bitcoin is considered “the people’s money.”

Kiyosaki has also been actively encouraging investors to buy Bitcoin, seeing it as a safer alternative to fiat money, especially as traditional currencies are being eroded by inflation and market risk increases.

Kiyosaki’s Impact on the Personal Finance Industry

Robert Kiyosaki has a wide influence in the personal finance industry and is recognized as a leading expert in financial education. He is often asked to share his views on topics such as investing and the global economy in major media outlets.

His books are often used as a guide in discussions about finance, and as mentioned, Rich Dad Poor Dad remains one of the bestsellers.

Interestingly, Kiyosaki was part of a wave of personal finance gurus, including Suze Orman and David Bach, who began to emerge in the industry in the mid-to-late 1990s.

Controversy and Criticism

Kiyosaki has been the target of criticism, especially among financial experts who say his advice is unrealistic and outdated—an argument that’s not hard to see given the times.

While some investment advice holds up, it’s easy to argue that techniques and strategies that may have worked in the 1990s aren’t nearly as effective today.

Kiyosaki has also been criticized for using his book as a way to encourage people to spend money on much more expensive webinars and training.

Robert Kiyosaki also faced backlash after it was revealed that he filed for Chapter 7 bankruptcy in 2012.

The filing came after a judge ordered Kiyosaki’s company to pay nearly $24 million to settle a royalty dispute.

Conclusion

So, that was an interesting discussion about Getting to Know Robert Kiyosaki: Today’s Personal Finance Guru that you can read in full at the Crypto Academy at INDODAX Academy.

In conclusion, Robert Kiyosaki has proven himself as an influential figure (influencer) in the world of finance, especially in the field of financial education.

Although many critics say that his advice is unrealistic and outdated, his influence in educating people about entrepreneurship, investment, and Bitcoin remains significant.

The book Rich Dad Poor Dad and his other works have become a source of reference for many people who want to improve their understanding of financial management.

In that way, Kiyosaki continues to spark discussion about the importance of building wealth and achieving financial freedom, although his methods are often the subject of debate.

In the end, Robert Kiyosaki remains a controversial figure, but his contribution to changing the way people view money and investment cannot be ignored.

FAQ

1. Who is Robert Kiyosaki and what are his famous works?
Robert Kiyosaki is an entrepreneur and author of Rich Dad Poor Dad, who teaches the principles of personal finance and entrepreneurship.

2.What is Kiyosaki’s financial philosophy?
Kiyosaki emphasizes the importance of building a portfolio of passive income-generating assets and minimizing debt to achieve financial independence.

3.What is Kiyosaki’s view on Bitcoin?
Kiyosaki believes that Bitcoin is an important asset to invest in, predicting that the price of Bitcoin will soar to $1,000,000 under certain economic conditions.

4.What criticism has Kiyosaki received?
Kiyosaki has faced criticism regarding the relevance of his advice and filed for bankruptcy in 2012, raising doubts about the effectiveness of his investment strategies.

5.What impact has Kiyosaki had on the personal finance industry?
Kiyosaki has made a huge impact as a financial education expert, inspiring many to better understand and manage their finances.