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Why Trump and 'Rich Dad' really want you to be rich

There I was, a plainly-dressed, limp-haired and under-lipsticked financial writer, descending the escalators of the glitzy, gilded Trump Towers on Fifth Avenue to reach the book party for Robert Kiyosaki and Donald Trump's newly released, Why We Want You to Be Rich.

And there he went, Donald Trump, larger-than-life media and real estate mogul, ascending the very same escalator. Light bulbs flashed and video cameras rolled. I fought the urge to duck lest I inadvertently end up in the background of an Entertainment Tonight spot. It was 6:30 p.m. last Thursday and the party started at 6 p.m., but I guess The Donald had already made his appearance.

Robert Kiyosaki stayed on and carried the torch for the book, conducting interviews, posing for photos, looking stylish, tanned and friendly, but also not entirely real. In fact, the quantity of make-up on many people at this event -- not just him -- made me wonder if I'd gotten stuck in a wax museum.

I enjoyed some the beef tenderloin, listened to the strolling clarinetist and snapped my photos from my Treo before, scuttling out of the event with book in hand.

On my way home, much to my surprise, I found myself enjoying the book immensely. I was actually laughing out loud at points, perhaps not necessarily in the way the authors intended, but having a grand old time just the same.

Readers who love Trump's confidence and Kiyosaki's earnestness, will no doubt get a huge kick out of seeing what happens when these two mammoth personalities come together.

It's not exactly magic, but it is entertaining. You can read a lengthy excerpt here. Or consider this passage early in their discussions about writing a book together:

Kiyosaki says to Trump, "I don't think we match when it comes to money. After all, you're a billionaire, and I'm a mere millionaire." Donald responds, "Don't ever put down being a millionaire. Billions of people would love to trade places with you financially."

What I found so funny, and what any regular reader of the financial and investing press will find amusing, is just how much Kiyosaki and Trump manage to place themselves at the center of the book, without actually offering much usable financial advice.

The first part of the book is all about how the book came to be. The later advice sections of the book are interesting given the extent to which they violate most of the basic tenets of financial planning (stay away from mutual funds, 401(k)s, don't bother trying to save money). The Wall Street Journal wasn't too impressed (subscription required).

It took me a while to figure out what genre this was -- so unlike any book I'd ever read. Then it dawned on me: It was an infomercial. Lively, entertaining, campy even. But pure marketing at its core.

That's when I thought of a possible answer to the question posed by the title, "Why We Want You To Be Rich." Was it so readers could go out and buy more Trump books and Kiyosaki books, games and kits?

Trump and Kiyosaki claim they share a vision for raising the country's financial literacy so as to reduce the growing gap between rich and poor (they discuss this in an interview with AOL's book editor). It's a worthy goal and one I hope they can make a dent in. But I'm not sure spending $24.95 (list price) or even $15 on Amazon (where the book is currently the fifth-ranked best seller), will help anyone get rich fast.

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Last updated: September 05, 2008: 01:37 AM

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