So I have been seeing all these stories about Robert Kiyosaki of Rich Dad, Poor Dad fame filing for bankruptcy. I am not sure how I feel about this as it seems to me he only filed to avoid paying a large fine….for something that his company was being sued for.
In any case I was not a follower, I just read (most of) the book and thought it was ok. I leave you to your own thoughts about this legal proceeding. Was it being financially savvy or do you think it was unethical?
I also have read some of his books and even purchased a couple. Some of what he has to say is reasonable, especially when it comes to managing cash and cash flow. However, I think his response in this case is totally unethical and should not be allowed under law. I can understand bankruptcy protecting those who have nothing, but to not live up to the terms of a contract and file to avoid doing what you should have done all along is wrong.
It does leave a bad taste in the mouth. I was never a fan of his because It seemed to me that he oversimplified things too much. It will be interesting to see how it all plays out.