Robert Kiyosaki's Education: A Foundation for Financial Philosophy
Robert Kiyosaki, born April 8, 1947, is an American businessman, investor, author, and motivational speaker, best known for his "Rich Dad Poor Dad" series of personal finance books. His work has significantly influenced how millions think about money. This article explores the educational background and formative influences that shaped Kiyosaki's financial philosophies.
Early Life and Influences
Robert Kiyosaki was born in Hilo, Hawaii, into a family of Japanese-American heritage. His father, Ralph H. Kiyosaki, was a highly educated man with a Ph.D. in Education and served as Hawaii's superintendent of schools. Ralph Kiyosaki also unsuccessfully ran for lieutenant-governor in the Republican Party ticket in the 1970 Hawaii gubernatorial election. His mother, Marjorie O. Kiyosaki, was a registered nurse.
A pivotal moment in Kiyosaki’s life occurred at the age of 9 when he met his best friend Mike’s father, who he referred to as his "Rich Dad." This encounter exposed him to two vastly different perspectives on money. Kiyosaki found himself torn between the traditional, security-focused advice of his biological father (the "Poor Dad") and the entrepreneurial, investment-oriented mindset of his "Rich Dad." He wanted to be a good son and listen to his father, but he was hungry to learn about money, a subject on which his two dad’s opinions differed greatly.
Formal Education and Military Service
After graduating from Hilo High School in 1965, Kiyosaki attended the United States Merchant Marine Academy at Kings Point in New York. He earned a Bachelor of Science degree and a commission as a second lieutenant in the United States Marine Corps. This experience provided him with discipline and leadership skills.
Following his graduation from college in New York, Kiyosaki began his career by taking a job with Standard Oil’s tanker. His career with Standard Oil was short and Robert Kiyosaki resigned with the organization after 6 months to join the Marine Corps. Kiyosaki served as a helicopter gunship pilot during the Vietnam War.
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Business Ventures and the MBA Experience
Kiyosaki's service in the military ended in 1973, presenting him with a career choice. He chose to work for the Xerox Corporation during the day, where he eventually became the company’s top salesperson in Hawaii. Simultaneously, he began taking courses in an MBA program at night.
However, Kiyosaki left the MBA program, disillusioned by the lack of real-world experience among the instructors. He observed that the instructors weren’t business owners and had no real-world experience. They were professional teachers teaching business courses from “book knowledge” alone. None of them brought any real-world experience to the subject they taught. This experience reinforced his belief that traditional education often fails to provide practical financial knowledge.
Entrepreneurial Pursuits
The time spent at Xerox ignited his entrepreneurial drive. He learned that he could sell and also discovered the entrepreneurial spirit burned within him. After leaving Xerox, he created the company Rippers, with his brother. Rippers was the first company to bring to market the nylon and Velcro® “surfer” wallet. Though the product was an instant success, the business was not. After Rippers, he started another company, which also went bankrupt.
During the early 1980s, Robert met and studied with R. Buckminster Fuller-a futurist, visionary, inventor, architect, and humanitarian. Shortly after Fuller’s death in July 1983, Robert read Bucky’s final book, Grunch of Giants.
In 1985, Kiyosaki was living out of his car and struggling to get by.
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"Rich Dad Poor Dad" and Financial Education
In 1997, Robert Kiyosaki achieved widespread recognition with the release of his seminal book, Rich Dad Poor Dad. The book recounts the story of Robert’s upbringing, highlighting the stark differences in the financial philosophies of his two father figures. The book examines fundamental insights into the importance of assets, liabilities, and passive income. Kiyosaki’s no-nonsense writing style, gift for simplifying complex ideas and subjects, and use of relatable anecdotes resonated with a broad audience. In learning Robert’s personal story, people of all ages around the world came to believe that they too could find a path to taking control of their financial future and aspire to financial freedom for themselves and their families.
In the wake of the success of Rich Dad Poor Dad, Robert co-founded The Rich Dad Company with Kim Kiyosaki. They created the company on a shared vision and mission to elevate the financial well-being of humanity. The company’s offerings began with books, games, and seminars, but grew to include coaching programs, digital courses, live and livestream events and newsletters- all aimed at empowering people to take control of their financial destinies. Kiyosaki’s teachings emphasize the importance of having money work for you. He encourages individuals to invest in assets, generate passive income, and adopt a mindset that fosters life-long learning on a path to financial independence.
Kiyosaki's Financial Philosophy
Kiyosaki’s financial and business teachings focus on generating passive income in order to achieve financial freedom and independence. A key tenet of Kiyosaki’s investment philosophy is the distinction between assets and liabilities. He advocates for the acquisition of income-generating assets, such as real estate and businesses, as a means to build wealth. Though he used real estate and business as the primary means to gain financial freedom, Robert has shared insights into other investment vehicles, including precious metals, entrepreneurship, and even cryptocurrencies.
Kiyosaki is critical of the traditional education system, arguing that public school system teaches kids to be employees, not entrepreneurs. He believes that “real” financial education occurs outside the classroom. He also believes that people should learn as much as possible about finance.
Kiyosaki also created a board game called Cash Flow 101 to help people learn about money. Kiyosaki has also cited Monopoly as a great game for learning about money.
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Later Career and Influence
Kiyosaki has authored more than 26 books including Rich Dad Poor Dad, which has been translated into dozens of languages.
Robert is the author of 32 books, including two books with Donald Trump, prior to his election as President of the United States: Why We Want You to Be Rich and Midas Touch. The two met while giving motivational talks for the Learning Annex.
Robert has been a featured guest with media outlets in every corner of the world. It is undeniable that Robert Kiyosaki continues to have a profound impact on the way people around the world think about money and investing.
Controversies and Criticisms
Despite his success, Kiyosaki's teachings and business practices have faced scrutiny. Some critics have questioned the accuracy of the stories in Rich Dad Poor Dad, suggesting they are fictionalized to illustrate his points.
In 2012, Kiyosaki's company, Rich Global LLC, filed for bankruptcy and was ordered to pay $23.7 million to The Learning Annex and its founder, because Kiyosaki had used The Learning Annex for speaking opportunities.
Much of his advice has come under criticism - and his bankruptcy brings his business acumen into question. For example, in “Rich Dad Poor Dad” he advocates asking rich friends for advice on trading stocks based on non-public information. This is considered insider trading and is a felony. Kiyosaki argues that there are forms of insider trading that are legal and says that he is not suggesting anyone break any laws.
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