The First Lady of Personal Finance, Suze Orman smacked down charlatan Robert Kiyosaki, who rose to fame with "Rich Dad, Poor Dad," which is, as I've argued in the past, one of the worst books of all time. Normally I would link the title to the Amazon.com page but I won't in this case because I don't want any of you to buy it.
Here's how it went down. Kiyosaki tweeted:
I can't believe this lady @suzeormanshow. No way in hell she believes what she teaches.
At least @theRealKiyosaki I DID NOT LEAD PEOPLE DOWN THE PATH TO LOSE ALL THEIR MONEY IN REAL ESTATE AS YOU DID. SHAME ON YOU
You can see Kiyosaki's lame responses here -- which isn't even worth printing.
So who's right? Without a doubt, Suze. Orman has made millions selling something fundamentally good: solid, conservative financial advice that will put people on the slow and steady path toward wealth and security. Her charisma and common-sense principles have allowed her to tap into a mass of people who otherwise never would have received any financial education.
Kiyosaki is a windbag who charges people tens of thousands of dollars for worthless real estate advice, fabricated his first book that was published as non-fiction, and offers up an alarming amount of bad advice -- see, for instance, this wonderful takedown from real estate guru John T. Reed.
Bottom line? If you want to be rich, follow Suze (@suzeormanshow on Twitter). If you want to be poor, Kiyosaki is your man. His book should have been called "Rich Robert, Poor Reader."
Zac Bissonnette's book "College On a Dime" will be published by Penguin in the fall. He is a junior at the University of Massachusetts, Amherst.
Introduction to Economic Indicators
Measure the performance of the economy.View Course »