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.











Reader Comments (Page 1 of 2)
10-17-2006 @ 9:23AM
Warren said...
I find myself less impressed with Kiyosaki every time I read or hear something from or about him. He's propped himself up as a financial guru but every time he gives advice I find myself cringing.
10-17-2006 @ 9:53AM
Lorie said...
Once I attended a seminar led by Kiyosaki and was turned off by the marketing of all his products. It was all about selling his products, I bought nothing. Don't waste your time of money on going to one of these. If you have any interest get the books at the library. I would NEVER go to one of their conferences.
10-17-2006 @ 11:53AM
Stevon said...
I do agreed with the comments of the first writer, it is all about money, and the rich well get richer.is any one know how many people get rich? from any of these seminar. i know i am going to be rich, there is good books out there, but it is all
about you. spen less and save more, just like you buy your first house you can but the second one .
and if your first method was good contune to use it ok this is my little bit.
10-17-2006 @ 1:00PM
Rachel said...
When Donald Trump was interviewed for his book a very important question was asked and Donald Trump refused to answer. The question was: What was your biggest mistake? He didn't find that necessary to answer and stated on public television that he will not respond. It was a very important question. This is how he is possibly missing the mark with the public. He did have a major problem. Even he lost quite a bit of his holdings. During the stock market crash of the '90's when Donald Trump was heavily, heavily invested he did run into trouble as did everyone else in real estate along with the stock market investors. That may be a repeat of what is going on today with the small mom and pop condo flipping investor. He did lose quite a few real estate holdings. He was heavily in debt with the bank or banks, and, if I remember correctly, the banks worked with him because it was better to stand behind him in hopes of getting repaid, because of his name, rather than pull the plug. Something you and I might not have the advantage of. Being heavily indebted rather than a little in debt sometimes is the key to a working relationship. I have not bought the book. However, I feel there are a lot of loopholes, wheeling and dealing as such, that the public simply does not understand. It's still a crapshoot and the ordinary person doesn't have the riches or the "name" or the money contacts, be it banks or friends who are self-made billionaires, the way these gentlemen do, to make good things happen in bad times. I, myself, wouldn't invest in anything but real estate anyway. I am in Donald Trump's camp on that. I feel he is amazing what he has done, but the book it seems just superficially glosses over the real ticket. And...you will never learn these lessons at Wharton, but by attending you will have: Contacts, contacts, contacts. He makes a fabulous point of stating that economics you learn in universities and business school is simply a formula. I enjoyed listening to him because I fully agree with his opinion on that. There are a myriad of issues which determine the actual results. That's why there is such a discrepancy between the economists who go by the book, the numbers they keep crunching, and the realists. So I was pleased that he was relating his thoughts to the actual world events.
10-17-2006 @ 1:16PM
Albert said...
I bought this book yesterday and found it a rehash of things already said in previous books books already written by Kiyosaki and Trump. Nevertheless I enjoyed it! Most people will never practice the principals that wealthy people practice, thus will never have the cashflow and wealth that wealthy people have. You can go to seminar after seminar looking for the magic pill and not find what you're looking for. Here's a plan of action: reduce debt, reduce liabilities, reduce taxes, increase cashflow through real estate, business systems and paper stocks, more money coming in than going out is all their saying in a nut shell! So what are you waiting for? Get going! Build you asset column!
10-17-2006 @ 2:19PM
J WYETH said...
RICH PEOPLE HAVE BEEN WRITING BOOKS AND TELLING US HOW TO BECOME RICH FOR A VERY LONG TIME, BUT IT DOESN'T REALLY ADD UP. THE ADVICE GIVEN IS SOUND ADVICE, BUT TO ENGAGE THAT ADVICE IS USUALLY EXTREMELY DIFFICULT IF NOT IMPOSSIBLE. TALK AND THE WRITTEN WORD ARE CHEAP, AND YOU CAN NOT TAKE THEM TO THE BANK.
PERHAPS MIXING THIS INFORMATION WITH ALOT OF COMMON SENSE WOULD BE MUCH MORE REWARDING.
10-18-2006 @ 11:54PM
Kevin said...
I read the book and classify it as "Inspirational Fluff." I enjoy Trump, but he is better suited as a media personality than author. Nothing solid to put your hands around and use.
10-20-2006 @ 8:24PM
Big Kahuna said...
well, I bought the book and it offers absolutely nothing for the middle class that has not been said a billion times....save money and invest wisely ior start a business and hope its a success.
As someon in the boomer generation, I found the ONLY book to make sense to me was DIE BROKE.....live within a budget, and spend every penny and the last check to the funeral director should bounce!
10-20-2006 @ 8:25PM
Jon said...
The first million is the most difficult one, then it is just ride the rich get richer. When you are poor you are poor it does not matter how many books you read.
10-20-2006 @ 8:29PM
Fred said...
Trump has a big mouth and no class.
It's very easy when your father is a billionaire.
Give me a billion dollars and I'll build a lot
of tall buildings anywhere I want.
I'll give more credit to Hovnanian (the old man)
he has more money and is not a big mouth like
this clown trump. Sol Goldman and Alex Di Lorenzo
had more money than this clown and they started
with nothing.No offense.
10-20-2006 @ 8:43PM
John said...
I know Donald Trump and he is nothing more than an arrogant, pompous , pretentious human being. If a persons character is of any value then Trump is the poorest man on earth.
10-20-2006 @ 8:43PM
Bill Porter said...
Donald Trump? I have to ask myself if there is anything about this man I would want my sons to pattern themselves after. My answer is always "no". How can we consider a man that filed a multi-billion dollar bankruptcy not once but twice to a financial ghuru? He is a con artist. We pick up the tab for his financial mistakes each time we borrow money or our earnings are lower. The banks can't just write that amount of money off, they have to recoup it somewhere or somehow. I would love to sit at the table with Mr. Trump and speak these words..."Donald, the first time you filed bankruptcy that was okay but the second time, well Donald, you are fired"...now get out of here and go write a book!!
10-20-2006 @ 8:55PM
STAN said...
IF YALL READ THESE BOOKS AND PUT IT TO WORK FOR U U CAN BE RICH BUT YALL ARE SO SMALL MINDED
10-20-2006 @ 9:16PM
rob said...
what i think of donald trumps book is its crap and hes makeing money off you poor suckers who buy it hes the one whos geting richer off it and you will be stuck with a bullshit book that does not help u get rich.be smart and save your money you will get richer by doing that or invest it in good stocks trump is for the rich people not the poor suckers like you or me be smart people use your brain
10-20-2006 @ 9:23PM
Susan said...
You can read any book by any author on any subject but if you don't have faith in yourself to accomplish things, you will never succeed. It is not about Trump or Kyosaki it is about [us.]
10-20-2006 @ 9:52PM
Sean said...
How do those who are rich and successful get where they are?
Do they themselves have anything to do with it?
It certainly isn't in many cases the best, most intelligent, most qualified, most attractive,
skilled or even most deserving that become rich and successful, so how is it done?
Do we sometimes overlook our own resources and moments of happenstance for the credit of where we are, where we go and where we end up?
It's been said,
'You can become anything in life if you just set your mind to it' or 'If you just believe in
yourself your dreams will come true,'
...I don't believe in either of those sayings. I think those are things that celebrities or fortunate
people like to say that's really just a cliche that sounds idealistic but is not very realistic.
In our lives we are given different interests, gifts, connections, privileges, advantages,
circumstances, disadvantages and paths.
I think it's in these things that make up the map to what you become and where you end up.
Maybe where you end up, how much money you make, how much clout you develop, and what you end up doing really does have very little to do with you and what you've done.
Maybe what it's really about is regardless of whether you are rich or poor, successful or
not, powerful or powerless this exact moment is where your supposed to be and what you do with it, what you learn and how you become is what it's really all about...
Trump and people like him need to highlight one thing that they rarely credit - fate.
He'll say work hard, save money, try hard, be smart...the advice we've all heard before.
Well you know what? Many people work hard, try hard, be smart and try and save money..things just work out as they work out..
We need to stop treating the fortunate by fate like gurus..how smart are you really when your entire life has been on a golden platter?
Celebrities arent gods, they are just people who have had fortune from providence.
10-20-2006 @ 10:22PM
WIL ST JEAN said...
Donal and Robert are great teachers, i am where i am today byt learning from those guys. i am involve in a business that Donald Trump endorse, anyone interested, please send me your address or p.o box and i will e mail you a DVD. in the meantime for to my website and check it out. www.freedomtime.acnrep.com
10-20-2006 @ 10:25PM
WIL ST JEAN said...
Donal and Robert are great teachers, i am where i am today by learning from those guys. i am involve in a business that Donald Trump endorse, anyone interested, please send me your address or p.o box and i will mail you a DVD. in the meantime check out my website www.freedomtime.acnrep.com
10-20-2006 @ 10:31PM
Barry Peterson said...
Robert Kiyosaki's book, "The Business School for People who like helping people," was really interesting. I haven't read the current book, but may receive it as a gift for attending a seminar.
However, the author realy irked me in a recent article published by AOL. In one statement, he referred to poor people as, "evil and wicked." I wrote back to him in disdain, noting that I grew up in the wealthiest neighborhood in Minneapolis, but, due to energy sapping disabilities, I have not been able to enjoy the dream I had of attending law school, public affairs school, developing businesses (I'm working on one right now), and then becoming a diplomat or international law attorney.
For someone who claims to want to help people by writing books that talk about the mentalities of rich people, his, "wicked and evil," comment was rancid, and left me wondering just how narcissistic the guy is.
10-20-2006 @ 10:49PM
paul said...
through all of the comments and disfigureing of how good and how bad the book is ( unfortunately i have not read this book, but have gotten the idea, " start saveing money by not buying this book" ), we have to critisize ourselfs for lack of educating ourselves in finacial deficits. business comes in many shapes of forms and fashions. A man with $100.00 dollars that knows how to build HIS OWN MONOLOPY, is worth more than the man with $200 who has no knowledge of $1,000.00. IN EVERY WALK OF A BUSINESS MAN LIFES, WHETHER IT BE MUTUAL FUNDS, STOCKS, BUSINESS(S), REAL ESTATE, HE HAS GAINED OVER SOMEONE ELSE, BUT IT'S ALLWAYS WHAT WE CALL A LEVEL OF LIFE. IT'S JUST IN DONALDS SITUATION HE'S AT A LEVEL WERE MOST OF US ARE NOT AT, FINANCIALY. BUT NEVERTHELESS I AM AT A LEVEL OF SUCCESS WERE SOME OF YOU WOULD WANT TO BE ( JUST AS THE STATEMENT THAT WAS MADE TO MR KIYOSAKI, DONALD SAID IN SO MANY WORDS, IT'S ALLWAYS SOMEBODY THAT WILL BE RICHER THAN YOU, AS WELL AS IT IS ALLWAYS SOMEONE THAT WANT'S TO BE RICH LIKE YOU.. I MUST ADD.... BEFORE BECOMEING RICH WE HAVE TO REMEMBER WHAT SUCCESS MEANS AND WERE DOES IT START AT. MENTALLY, WITH DESICIONS THAT ARE LONG JEVITY. NEVER LUCK, JUST PROPER PLANNING, AND WITH ME IT STARTED @ BEING 13 YRS OLD. I AM NOT A MIILION AIRE, ( YET ) BUT MENTALLY I AM, AND FINANCIALY I AM A THOUSANDAIRE, AND IT'S BEING COMFORTABLE WITH ALONE, I AM RICH CAUSE I AM FINACIALY COMFTORABLE WITH PAYING AND LIVING MY LIFE WITH BILLS/MORTGAGES THAT='S OUT TO BE $16,000 MONTHLY, WITH A BUSINESS THAT STARTED @ THE AGE OF14 AND NOW THE AGE OF 28, THAT I STARTED FORM THE GROUND UP THAT RAKES IN NET EVERY MONTH $40-$50,000.00. SO LET'S NOT LOOK AT THE MAN THAT HAS MORE THAN US, BUT LOOK AT OURSELFS AND GET MORE THAN SOMEONE ELSE. CAUSE YOU WILL NEVER HAVE MORE THAN EM ALL.