Rich Dad Poor Dad Seminars a Scam?

On the Canadian Money Forum (started by fellow Canadian PF Bloggers Million Dollar Journey and Canadian Capitalist), I saw a post that mentioned CBC Marketplace aired a hidden-camera investigation of the Rich Dad Poor Dad “Get Rich Quick” Education Seminars, titled “Road to Rich Dad, Who’s Getting Rich off Rich Dad?” on Friday January 29.

I read Rich Dad Poor Dad by Robert J. Kiyosaki and thought it was pretty good, inspirational, very anecdotal, but didn’t like the sales pitch (selling his “CASH FLOW” board game).  Robert Kiyosaki is a good storyteller.

I have seen the free one day seminars in the local paper (they offer it about a few times per year here), and have often contemplated going (hey, free lunch and a free USB stick/ CD, why not?) But after seeing this video, I’m going to stay the hell away from these free seminars.

They even have PAID seminars, costing $500 a pop for a three day workshop, where they basically try to pressure you into spending $45,000 on further real estate “training”. One of the hidden camera revelations that absolutely SHOCKED me was that they blatantly TOLD people attending the seminar to INCREASE THEIR CREDIT LIMIT TO $100,000!!! (you have GOT to be kidding me!) They gave people SCRIPTS to say to their credit card companies and took time out during the seminar to allow people to call their credit card companies RIGHT NOW to ask for the increase to $100,000. What was the motivation to ask people to increase to the $100,000 limit?

In the video, the presenter in the seminar claims that you can’t make money with your own money, that you’d need charge renovations etc. to your credit card in order to “make money off real estate”. Hence the increase to $100,000 limit on your card.

The real reason is likely because they are selling $45,000 real estate training classes and want to pressure you enough to impulse buy that on your credit card.  The “Get Rich Quick” Seminar is basically a long drawn out sales pitch.

I seriously can’t believe that these things go on! Poor Canadians and Americans are being duped into spending their savings on bogus seminars!

In the $500 three day workshop, the same presenter goes on to talk about how he made $32 million from a mobile home park in a rural place in Saskatchewan. CBC Marketplace went to check out his real estate millions and found that it was actually nothing- completely made up, barren, and no mobile home park existed.  No $32 million.

Host Erica Johnson went on to talk to Robert Kiyosaki himself (he made a rare public appearance in Vancouver of all places!) and said that he is aware that this company (which is not his company but a license of his “brand”- Rich Dad Poor Dad, he claims) has had many complaints and unhappy customers.

Robert Kiyosaki then acted like he was innocent in all of this, used a scapegoat “partner” to blame it on, and then proceeded to say that he was very unhappy with the company using his name brand Rich Dad Poor Dad and giving it a bad reputation.  Robert, tsk tsk, you should know better than to lie blatantly to the camera!

Don’t let those $&)#*@ trick you from your hard earned $$$.  Do your research and be wary of any “free” seminars!  Don’t let that $500 or $45,000 go to these “Get Rich Quick” scammers!  The only people getting rich quick is them, from YOUR money!

Readers: What do you think?  Have you read Rich Dad Poor Dad or attended any of the “Get Rich Quick” seminars?  Judging from the video, do you think there is a bias from CBC Marketplace or do you think that Robert Kiyosaki really was a victim (which he claims) in all of this?

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About

Young is a writer and former owner of Young and Thrifty and the main "twitter' behind Young and Thrifty's twitter account. She lives in Vancouver, BC and enjoys long walks on the beach, spending time with her anxious dog, and finding good deals. If you like what you read, consider signing up for email updates.

113 Responses to Rich Dad Poor Dad Seminars a Scam?

  1. Thanks for the mention. It is criminal to invest with a loan on a credit card.

    • young says:

      Thanks for stopping by Canadian Capitalist. I just can’t believe that they actually got away with this for so many years… it concerns me that our Public Watchdog is just CBC marketplace (they do a great job, but where’s our government when you need them? (uh oh am i getting political?))

    • terri ahia says:

      I Read a lot of the statements, I went to one of those FREE seminars , they are a big scam , They talk very fast won’t answer questions afraid of losing there leverage get your small amount first for the 3 day seminar just give you enough info to hook you back on the fishing reel. Then promise you the world and take a huge chunk of your money. Scam, Scam, Scam

  2. Money Funk says:

    Even though many successful ppl do this…. I was saddened to hear he hires a ghost blogger to run Facebook and Twitter. Kind of takes the personal touch away.

    I think he is may have a hand in these presentations. *shame*
    .-= Money Funk´s last blog ..Menu Plan Monday =-.

    • young says:

      No doubt he had a hand in the presentations (He gets money from them anyway), it was pretty sad to see his “mock” astonished face that he put on in front of the cameras to show that he is sincere and innocent. Lol, maybe we can get that “Lie To Me” series to check his facial expressions out =)

      I didn’t know he had a ghost blogger on Facebook and twitter. That does take the personal touch away… wonder what he does with his time then? =)

  3. Are you telling me that I spent $50,000 on my credit card for nothing?

    Just kidding. I dont take any seminars seriously. A crash course will guide you in the right direction but it wont solve all of your problems. Just my opinion.
    .-= MD @ Studenomics´s last blog ..How My Friend Made $2,100 From Tutoring =-.

  4. I liked the book (it was the first PF book I ever read!), but I don’t think I would ever pay to go to one of those seminars. They really are all scams. The “free” part is an extended sales pitch and the people who put them on are crooks. Literally, if you search any of them, you will find that they’ve had all sorts of legal trouble, been bankrupt at least once and probably aren’t the best people to take your money advice from.
    .-= me in millions´s last blog ..Snowpocolypse Version 2.0 =-.

  5. young says:

    You’re right about having the mentality that all seminars are scams. I think if you go in to the seminars with a mindset of “they’re not going to scam me and take my money- I’m only here for the free USB and free lunch” then it’s fun to be humoured with the information they have. But then again, that’s a waste of a perfectly good day off!

  6. Maybe I’ve just gotten too jaded by the ripe old age of 27, but this doesn’t really surprise me. I’m just hoping not too many people got ripped off by these seminars.
    .-= The Amateur Financier´s last blog ..Financial Samurai’s Alexa Challenge =-.

    • young says:

      @ The Amateur Financier, Hmm sounds like they already have been, otherwise, these seminars wouldn’t exist, I would think! (They need capital to finance the free lunches, hotel bookings, etc. right?).

  7. @young and thrifty: We can only hope that took their own (stupid) advice, over-leveraged their whole operation, and depend on a huge crowd just to pay back all their creditors. This is the perfect situation for karma to make an appearance.
    .-= The Amateur Financier´s last blog ..Financial Samurai’s Alexa Challenge =-.

  8. He is a genius at getting maximum dollar for sure from people.

    His first book was fine. Everything after that is what made him so rich.

    Buyer beware, as always!
    .-= Financial Samurai´s last blog ..How To Get Your Super Motivated Boyfriend to Marry You =-.

    • young says:

      @Financial Samurai, yah, I have “Cash Flow Quadrant” and haven’t read that yet. Hope he doesn’t try to upsell the seminars or his $200 board game in that one again.

  9. If you get a chance, check out John T. Reed website about him… just google “rich dad reed”.

    If you haven’t read it, it’s very interesting!

    Sorry for being so late to comment on this!

    You’ll definitely see me swinging by more often!
    .-= Money Reasons´s last blog ..Wealth Tip #4: Invest Money Saved on Food and Other Products =-.

  10. Well, at first I thought that it is just an interesting topic, but then hey, what happened to one of the most respected people that I have learned a lot from?

    Honestly, I own a CashFlow boardgame and it has inspired me to start getting out of the rat race. I even got some of his other books.

    But I think that I’m lucky enough to not attend any of those seminars.
    .-= Benjie @ Zordane´s last blog ..Managing Your Own Website =-.

    • young says:

      @Benjie Thanks for visiting. Yeah, I think it’s primarily the seminars that is the concern… he claims not to be affiliated to them though. Thanks for visiting!

  11. mike mc says:

    Hey, his stock investment courses are a scam also. After $10,000 and 9 mo. they say they have on record that I paid. Therefore, no more online training.

    • young says:

      @mike mc- Thanks for sharing- I didn’t know he actually had a stock investment course as well! Ouch $10K? Sorry to hear you had to go through that. I’m surprised his company’s business practices hasn’t been shut down yet.

  12. Alan says:

    I know it is possible to get ripped off but really are you who are blogging wealthy?
    Maybe you should really try something from the free seminar and stop walking in fear and blameshifting.
    Just a thought…

    • young says:

      @Alan- Thanks for commenting. I would be interested in trying the free seminar, just to see what it’s all about. I am actually just spreading the word about the documentary with the undercover camera, so am basing my opinion from that. I’ll let you know when I go, they come by quite often to Vancouver.

      • Colin says:

        I went to the free seminar, they felt very sales pushy but they offered the 3 day introduction to realestate for 200$ so why not?

        The education is very satisfying, and it all quite makes a fair bit of sense. crunching the numbers they showed how never paying off a debt on a home or anything for that matter is the most financially sound option. instead using the money you earn to purchase investment properties that give you cash flow.

        It was astounding, I almost still can’t believe it, they crunched the numbers and it all added up.

        Theoretically all you have to is start investing but its hard when the price for doing so is so high and you are never sure if that it is truly successful. I think I may give this a shot

  13. Matt says:

    I sat through a free seminar today just to watch these snake oil salesman work the crowd. There were fools in there who bought the course in the first 5 minutes. Of course, one has to wonder how many were “plants” working for the seminar. I walked out after an hour, it was so bad.

    • young says:

      @Matt- Wow, really? That is really scary to know that there might be fakers in the crowd who were hired to sound enthusiastic. They must be making a ton of money on this otherwise they wouldn’t have the money to hire people like this. I’m actually quite curious now and am going to sign up for the next one that comes in my city for a first hand experience. From what you say though, it sounds horrid!

  14. jennifer says:

    hmmmm interesting considering he says in his book there is no way to get rich quick and i noticed there was no link posted to this supposed video with undercover cameras

    • young says:

      @jennifer- thanks for visiting. The link to the video with an undercover camera is the bolded link. It was done by CBC marketplace, it’s about 30 minutes long, from what I recall. =)

  15. Whoa! That is a lot of $$$$$! I either would not spend 500 bucks for a seminar; I could have paid my monthly bills for that. It was clearly a scam for me.

  16. Liz says:

    I have been to the RichDad seminars and took a leap of faith and signed up for the training about a year ago. I was the best decision I ever made. It is definatley not a get rich quick method. They do not tell you what to invest in or when, but give you the education and strategies you need to make informed decisions. We have worked hard over the last year with training and practice, and are seeing the rewards. I think the issue for so many is laziness. If you commit to opening your mind, and working hard nothing can hold you back but yourself.
    Yes, it does cost a lot of $$, but what does your university degree cost? Plus, in the Asset Protection seminar, they can show you how to write off the cost of the courses.
    I’m 26 and my passive income in the last year has become enough that I will not be returning to my JOB after New Years. Nay-sayers, say what you will, but I have the proof it can be done. 90% of the population is just to lazy, or are being given bad information.

    • Joe says:

      Liz, I just finished the 3 day course yesterday but did not sign up for the $40,000 training they recommended since I needed time to look into how to free up that money and my wife thinks it’s nothing more then a big scam. I took the course with my son who also thought it was pretty good and we met some people who did sign up and we’ll keep in touch with them. I realize it’s not as easy as they make it sound and in the beginning it’s going to take a lot of time and energy. So far most post’s I read are negative and since you seem to have gone through the process I would like to know your story and if it’s working for you. I’m 56 and my son is 26 and we both still work and I think you need to do this full time to succeed. Any thoughts or advice you could give me would be appreciated.

      Thanks

    • Chris says:

      I too have been to the three day seminar and have signed up for the courses. I have learned more from this than I did in college! The benefits are endless, the courses are great, and the money spent was an investment in my family’s future. I am getting ready to be rid of that three letter word…JOB! People who haven’t been have NO idea what they’re missing! I just can’t say enough! It has been life changing for me!! Can’t wait to learn more! It’s nice not having to give my money to someone else to invest when I can watch it and move it myself!

    • Alex says:

      Hi Liz, Thank you for your article on sharing your experience with richdad coaching. Yes it does take time, dedication, discipline and a hot white burning desire to achieve success. The financial education has been wonderful and continue to apply the knowledge practice and information. Your feedback will be greatly appreciated. Thank you

      • Rowan says:

        The last few comments sound ‘fake’. I have spent a lot of my time creating forums to me it’s clear that the last comments – the positive ones – were fake. They were by far too generic and regurgitated more or less the same thing. Beware people. You do NOT need to spend money in a seminar to make money. The information is ‘out there’ for all to find without spending a penny. Use your creativity, do what you love and the money will follow. It happened to me. Or rather, I made it happen to me without spending any money :)

  17. This book really made me think about money – I especially liked the beginning where it is explained how Rich Dad paid them only a few cents.

    However, selling the game and the seminars is what poisons the book… I would not attend any of his seminars

  18. GT says:

    I am not trying to sound holier than thou or trying to being cynical, but man, are people that gullable to fork over 45,000$ just like that?? You almost deserve to get scammed if so!! It’s kind of hard to understand how naive and desperate some people could be.

    • young says:

      @GT- No I totally agree with you. I guess if some people make it sound like a sure-win and they prey on people who are on hard times (like the 2009 financial downturn) I guess people become naive and desperate and convince themselves this is their next big break.

  19. dg says:

    You do know that there is no “rich dad” or “poor dad”, right? He made them up just to sell books.

  20. RenB says:

    I signed up with the Rich Dad Coaching Programme in June this year, I did it for 2mths online with other persons and a coach. I paid about $795 for this first part, I gained from it yes, cause I got alot of questions answered and alot of valuable information to charter my course to being financially free. On the 1st Oct I sent an e-mail informing that I could no longer be a part of the programme due to some pressing financial issues that had to take precedence. I did not get a response. On 15th Oct a personal from this programme withdrew from my credit card a sum of $795, which I only found out on 15th Nov when I went to purchase something with the card to be told it was declined. I immediately called the card centre and was told about this withdrawal on the 15th Oct. I was not a notification by Rich Dad Coaching informing me of the withdrawal, they jus took the money! I am currently trying to get it back from them, they said it was sent but my bank have yet to receive it. I now informed my bank to contact them concerning the lumpsum! I am so disappointed in them for this whole situation…..

    • young says:

      @RenB- Oh man.. so sorry to hear that! Those bastards… Please update me to let me know if they sent it. That’s good that they say they will send it back. You ride on their back, girl! They better not take advantage of you like that…

  21. Cam says:

    Hey I just had a thought for you. I’ve been invited to a number of these seminars over the past few years but haven’t attended. I don’t actually plan on attending either. I have read a few of Mr. Kiyosaki’s books. I think it’s easy to say that this is a scam and that’s a scam, but in my opinion most people are missing the biggest scam of all. The scam that says if you go to school, get a good job and work really hard you’ll be successful. For most that’s a lie. So, if it cost someone $10,000 to change their thinking and completely revamp their life would it be worth it? Wouldn’t it be worse to have tried nothing and end up at 70 years of age with nothing? All because you believed in working hard and getting a degree? In my opinion no one can really tell you how to be successful it is something you have to learn through YOUR OWN experience. To that note my business partner and I started a property business about 3 years ago and it’s going well. To be honest none of the ideas we’ve applied came from Mr. Kiyosaki’s books. However that being said some of his ideas gave me the courage and inspiration to step out on faith. All I could suggest is just believe in yourself and take one step at a time. You don’t need someone to tell you how to do it, you’ll figure it out…just like all the other successful people in the world. That being said if you’re lucky enough to come across someone who’s really done what you’re attempting then by all means take their advice, think about it and apply it to your situation. So just because these seminars might be a Scam, or you tried something before and it didn’t work that doesn’t mean that the next thing you look at won’t work. Always remember the alternative if you don’t try…and that’s the biggest Scam of all!

    • young says:

      @Cam- Very very insightful comment- thank you. I agree that getting a college degree doesn’t necessarily get you well off, unless it was a practical degree, I suppose (but even then, it’s the passive income and investing that really builds wealth.. or entrepreneurial stuff. I like his books, they’re inspirational to say the least.

  22. Rich says:

    On Dec 15, 2010 I attended a Rich Dad “Stock Success Workshop” in East Hartford, Connecticut. The speaker started off by apologizing that Robert K. could not attend. During the the whole workshop the speaker was trying to sell a $199.00 3 day training class for Jan. 2011. After one hour I raised my hand to ask a question and was told to wait till he was done speaking. 30 of the 50 people in attendance started to sign up and eager to pay $199.00. After 1 1/2 hours of listening to the pitch I went up to the sign up desk and asked the lady if at the 3 day class would they would you try to sell me anything else and at what cost. She said they will have additional training for $5,000.00. I asked for more info and she walked away from me to an eager couple with their wallet open. I left after that without signing up. I am glad I didn’t after reading all the scams Robert K. is into. He has workshops on Real Estate, Stock, etc. and anything else that will make him a buck. I have always been in sells and will always listen to someone else’s pitch.

  23. PK says:

    The only issue I have with this blog is the praise given to CBC’s Marketplace. I saw that segment a week AFTER I attended the Rich Dad real Estate weekend course ($500) that my wife and I attended together. Marketplace TOTALLY misrepresented the seminar with the slick editing of how they wanted the info to be presented. I had the same instructor as in the Marketplace segment, but I was SHOCKED to see how in thier ‘secret footage’ that they would cut away after a shocking quote…for example, near the beginning, the instructor asks the crowd “Who wants to be rich by next Friday?”…and the participants raise thier hands …but Marketplace doesn’t show the rest…which was “…well you won’t…in fact not by next year, or five years.. this process takes up to 15 years…etc..” but that wouldn’t fit into Marketplaces storyline now would it? As for getting a $100 000.00 credit limit (which was true), that was part of an excercise in getting you to practise your negotiation skills with your bank ( as well as other reasons, which I won’t go into here)…what Marketplace left out was to ALSO negotiate the lowest interest rate possible, and to get rid of the high interest ‘reward’ cards, and to NEVER USE CREDIT for ‘stuff’…etc…The WHOLE segment is rife with Marketplace’s spin, and I now will not watch another ‘investigative’ story by Marketplace, as I have seen the lies they can portray. That said, I didn’t go for the upsell, but I did get a lot of information for my $500…I just know that no one ‘guru’ can have all the answers, it’s a long learning process, but it is imortant to get as many sides of a story as possible. Something Marketplace failed to do miserably.

    • young says:

      @PK- Thank you so much for your response. I actually have never gone to one of his sessions, and have been meaning to, so I hope that I don’t come off like I’ve been to one of his sessions on my blog post. I was just relaying information I saw on CBC Marketplace and was quite intrigued. That being said, thanks for sharing your experience, I guess it’s not surprising that television shows may “edit” some information to add their bias, eh?

  24. John Paul says:

    I attended the free seminar in the Uk having read the book and was interested just to see how the 2 hour presentation was modelled.
    I noticed from the first minute, this seminar loured in vulnerable people who literally do not stand a chance from the beginning. They had lost all hope in succeeding in the real world through everyday avenues therefore had turned to rich dad.
    I also noted a ‘plant’ within’ the room, which was very well implemented into the presentation. They asked if anyone had used some of the methods used to purchase property and made an emphasis of the profits made. Low on behold, he was the first guy that signed up for the course!, £995 or approx. $1500 for three days.

    I must admit a lot of the methods ‘ Stephen Sweet’ used are viable and are used by investors everyday and are common knowledge to anyone who has invested a few hours of their time to do the research. Therefore I believe the education is offered is good for the novice, if they decide to take the knowledge from the seminar only. However if the customer believes that this is a get rich quick scheme, they need to think again.

    The presentation was very well planned out and the speaker was one of the best I have seen. Very confident, containing a sales and psychology background which some educated persons would recognise. We must stress on the point of psychology, this is a powerful asset especially when dealing with 95% of the audience who attend. Every word and tone of voice is planned to precision to influence the ‘buy’. I actually believe around 50% of the audience had been ‘brain washed’ within 15 minutes, please do not take this out of context. I refer to brain washing in this instance as the audience had bought into the ideas and the culture of the presenter Stephen Sweet.

    Can it also be noted, the presenter states no questions will be answered until the end of the seminar, this is due to people such as myself could easily alter the mind set within the room by simply questioning the system being sold. The audience are venerable and therefore can be influenced by any individual within the room.
    When Stephen asked questions, I kept quiet. I wanted to see the intelligence level in the room. The room was of very low intelligence and the key word to describe them was ‘desperate’.

    An understanding that as people we seek out members of society who we aspire to be like and people who we then install the belief in to help us attain our set goals. I have no doubt that at least 10 – 15 people purchased the course at the end of the seminar, this said I doubt at least 60% of the them could actually afford to spend that type of money or has assets to that value.

    That’s said, 15 x £995 = £14,925 for a free seminar. Well done Rich dad education, now that’s a get a rich quick scheme. ‘Don’t hate the player, hate the game’

  25. John Paul says:

    please take away the positives and from Rich Dad, use rich dad, do not let rich dad use you!

    There are valuable lessons to be learned that are beneficial. That said, please do not purchase a get rich quick product.

    If just ten people from each seminar payed for the three day course, and lets say Rich dad give two seminars per day.

    Wow, now thats what i call a business model – Get rich quick!

    10 people/ seminar
    2 seminars per day
    5 days per week

    total £99,500 for a weeks work.
    less room hire and extras, lets say £10,000

    =£89,500, dont forget at least 20% for commision

    = £71, 600 = $114,560 @ $1.60:£1 exhange rate

    Total profit = $114,560
    I would like to hear Stephen Sweet of Rich Dad educations thoughts on the view i have presented.

  26. Simon says:

    It’s funny because this is a typical thing for a business man to do. You cannot blame Robert for doing this, infact this is genius, and 100% legal, therefore the OT is misleading.

  27. His first book was lite reading. After that, obviously all sales pitches to me. I’d never sign up for any of these things and am constantly telling friends that anyone asking you to spend LOADS of money isn’t in it for altruism. They are lining their pockets and getting rich your the money that YOU pay.

    • young says:

      @Sandy- I’ve only read the first book too. I have Cash Flow Quadrant sitting somewhere but I still have yet to read it. Very true- anyone who wants you to part with loads of money doesn’t have your best interest at heart.

  28. Alex Hung says:

    Sure paying the hard earned money for seminars is a waste. If you want to learn the money making methods the internet can be used with a discretion bent of mind, rather than attending seminars. Some of the seminars or presentations held are just marketing strategies and doesn’t concern your financial improvement.

  29. Jan says:

    Paid the 200.00 for the 3 day seminar. Tomorrow is the 3rd day. Today they came out with the prices and the discounts if you pay for them by the end of the class. Anywhere from $9990.00 to $65,000.00 for a 3 day training course. I realize you don’t get something for free but thats crazy. If I had that much free money I would’nt be trying to find a way to make money faster than with just my job. And Allen teaching the seminar says he’s a minister. Scary.

  30. Belle says:

    Is there anyone that has actually taken the full training and has anything bad to say about this? Sure doesn’t look like it..

    • young says:

      @Belle- I think someone in the comments thread has done the full training, I believe.

    • Brian says:

      See my post below.. if you have $40k to spend on a course, you are better off buying a piece of real estate and learning by the seat of your pants… That would be a real education.. i’m not recommending you do that without an experienced investment real estate agent, but you certainly would learn more.

  31. Travis Daxton says:

    First off… the reason nobody that has taken the full class is defending it is because they are spending time MAKING money and not on this silly amatuer blog crying about useless points.

    Secondly, I love how you point out it’s a all a scam but somehow don’t point out that the actual investors spending $45,000 on a course obviously suck at money management (and an I.Q. above 25) if they are dumb enough to increase their credit cards and blow that amount of cash on the course.

    As for mocking the game Cashflow and how he sells it in his book… it’s his damn book, he can promote whatever he wants!! Isn’t that the whole model of passive income?? His game is a huge success and I play it with a mastermind group every two weeks… and it’s changed how I view finances. If you had thought up this game, would you not promote it on this blog?? Yep. Jealousy is bad news man, you should address that before you address finances.

    Just an FYI, I googled “rich dad” which brought me here! See, at some level you are benefitting from Rich Dad by his name bringing up your link. Should I blame Robert K. personally if your blog promotes something “off color” or gives bad advise, or sells me something useless?? Nope. So instead of everyone sitting here pouring passion into all these dumb blogs… google “passive income” and go make money!!

    • young says:

      @Travis Daxton-Thank you for your input. Actually if you check out the Road to Rich Dad link (see 1st paragraph), there are some people who have wrote testimonials on spending $20,000 on the Rich Dad classes and being dissatisfied. Here’s a quote:

      I am out nearly $20,000 dollars. At the $500 class, I was told to get my STRS retirement out and with they educational material and guidance I would be set for life. Is there a class action law suit against this organization yet? I want to be part of it. The practices of this organization are wrong and play on the emotions of people who can not effort to lose. I borrowed money to pay for this $6000 class and am still paying for this at a rate of 23% interest. The trainer said not to worry about this because I would be making more then 23% interest with the investments. How do we start a class action law suit??
      Posted by Virignia Hutchens on April 18, 2010 12:41 PM

      I’m not pointing out that it is a scam, I’m merely questioning it. I wasn’t skeptical until I saw the Marketplace video (see the video, a link is in the first paragraph). I don’t know, the hope of the “American/North American” Dream is pretty strong. There are many people wanting to get out of the rat race, and will be willing to spend $45,000 if they feel they have a good chance of making it big.

      That’s true- it is his book, he can promote however he wants, but I just felt it was a bit repetitive. i am currently reading his second book, Cash Flow Quadrant and he hasn’t mentioned the board game much, which is nice. I like the idea of the board game, it’s brilliant, but don’t like the idea that its $200+. I am in no way jealous of his success, lol. I am like a PEON compared to the success he has had with his business. I would say I am inspired by his success, but slightly resentful that he feels he has to charge $200 for a boardgame. If it was more accessible to all, that would be better.

      I don’t appreciate you calling my blog “dumb” but I guess you are entitled to your opinion! Thanks for commenting :)

  32. kris bolton says:

    Wow this is hilarious!

    Robert is a business man who claims to make lots of money!

    People are acusing him of being a scammer because he charges/makes lots of money, BUT everyone wants robert to show them how to make lots of money too. Lol, what a contradiction. The fact that he makes lots of money from the seminars makes him a scammer? The fact that he charges high prices makes him a scammer? No! quite the opposite. The fact that hes making lots of money from these seminars goes to show once again he truely knows how to make money, so much so he even got money from YOU!!!

    Ive read his books, about 5 of them. They are all extremely informative, inspiring and educational, they have changed my mindset actually. He NEVER EVER claims he can make you rich, he knows the answers or anything scammy. He also reiterates time after time that his words are just guides and you should do your own research.

    It is not roberts vault you are poor, it is not his fault you paid $10,000. That was your choice, he did not put a gun to your head so stop winging about a guy who makes lots of money from perfectly legal means.

    • young says:

      @kris bolton- His books are great actually (I’m reading Cash Flow Quadrant right now and it’s very inspiring). However, charging someone $10,000 is quite a bit. In an extreme way, it is somewhat analogous to going to someone for cancer treatment, when you have no proof that it actually works, but it costs $20,000 per treatment. Is it ethical to charge so much for something when you know that people may be selling whatever possessions they may have in order to attend your course in hopes of striking it rich?

  33. Yelena Kuchumova says:

    I went for Rich Dad workshop in Montreal just yesterday and sure, the speech person for 2 and half hours was selling the course for real estate investing. First it was 495 or 500 $ for 3 days classes and then you can go with them to Honolulu but pay more of course, and make it tax deductable, because it is not just for leisure. That was a speech guy’s advice. I am a real estate broker and want to learn what I don’t know, though I work in real estate for 10 years and have investment properties but any way I hoped I can learn something new may be.
    What I learned right from the beginning the person who gave a speech knows little or nothing about real estate in Quebec and real estate law. That was upsetting. You want to pay 495 $ for the courses where they will teach you that the banks repossess properties here in Quebec and by law do not have a right to rent them? Not true. No such a law in Quebec. Banks just don’t have resources to manage rental properties; they make money by selling mortgages. I sold 2plexes, 3plexes, 4plexes -repossessions and they were fully or partly rented and the banks were collecting rents according the law. Sure if the bank repossesses a single family house they wouldn’t rent it because they don’t have management for that. They do not need to rent the properties; they need to make money from mortgages.
    The speech person then gave little hints how to find opportunities to get good deals. Just a few, because more you can get only when you pay 495 and attend 3 days courses.
    But those few are also very unsupported and misleading. Buy a wholesale property to renovate and flip, and sign a deed of sale not on your name but on the construction company name and then after the renovation you sell and make tax free profit. What? No company will agree to do that and no law exists here in Quebec to do that! And what is it wholesale property? We don’t have such properties in Quebec!
    You want to learn how to buy pre foreclosures here in Quebec? Pay 495$ and learn! There are no such sales here! Only bank repossessed already!
    FSBO- for sale by owners! They offer to use this opportunity to get a good deal! We have statistics in Greater Montreal Real estate board- 85 % properties of FSBO end up selling with real estate brokers. Initially they overpriced or the same market priced as listed with brokers. Cases what I know and my colleagues see every day in our practice when people buy directly from owners, of course exist. Most of the time people overpay or pay exact market price and owners just make more money. How can you know prices for similar properties in those locations, the same size and conditions what were sold recently? The sold prices are confidential for public. We are- real estate professionals have access to that info. The guy also mentioned that we don’t have in Quebec on internet a full system where to find properties. We have! In Quebec we are almost 18,000 brokers use a system tool Matrix where all the listed for sale properties published with all the info. And we pay to use this tool. We use other sites only for real estate licensed professionals to order all the info for deeds of sale for any property. This info is confidential for public too. You have to be a licensed real estate broker to access the info!
    The speech guy then gave another hint- find a bargain deal, analyze. You save 6% commissions. How? Pay 495$ to find out! How do you know then it is a bargain? How can you know prices- comparables what were selling in the area if you don’t recommend to work with real estate brokers? May be at seminar they will offer crystal ball? Very risky investment then!
    Other things what I learned from the guy who also said he is a real estate investor. Buy a property with hard money loan, simply- loan sharks. What and amazing advice! You are not qualified by bank to get mortgage with2,25% interest rate because you don’t have enough income and your credit cards are maxed out and from loan shark you get a mortgage with 12% interest. How on Earth you can pay it back with 12% interest if you cannot pay 2,25%? Ooo, you can make a lot of money just for flipping the house? Again back to finding a bargain.
    The speech guy’s other brilliant idea – you want to buy a house but you don’t have money for down payment– let the owner to pay you together with a bank- we say the name for that transaction here in Quebec- balance of sale. To get a balance of sale from the seller to the buyer if they don’t know each other or the seller can sell to another buyer without dragging himself into this is very little to impossible. Forget about single family houses at all! The sellers will wait for the buyer with money then! Yes, we do some deals with balance of sale- most of the time rental properties with prices over a million when you are required to put 20% down payment minimum by law. Then for sure, you have 200,000 and 50,000 is just missing, we can negotiate for a year or 2 to repay. The guy gave an example as himself. He bought a property with 12% interest and 5 years of balance of sale, and 3 years later got a call from the lender asking to repay his money. The speech guy said – now he was in control and hung up the phone. He wants to use this money. Common! 12% interest? Be serious? You want to repay as fast as possible the balance of sale just do not pay such an interest!
    The speech guy gave a wrong terminology what I found very wrong, people will mix up then what is what- buy commercial properties, for example. It took for me a while to understand that he is talking about residential rental properties after he showed a picture of his 6plex. Commercial property is a property with commercial purposes only- restaurants, stores, salons, etc. Can be mixed with residential though. First floor of multiplex is a store and other floors are residential rentals. Again he didn’t know that for only commercial property you have to put down minimum 40%. Why? Because the banks know that this is very risky investment. What if the restaurant has a 10 years lease with the land lord and then goes bankrupt for example? You lose 3-5 thousand dollars each month. If you are not experienced in real estate just to do that I found this advice very wrong.
    Buy a multiplex and convert in condos! Those guys should check first with city of Montreal. We have here in Montreal ban for the last 5 years for conversion multiplexes to condos! Just a very few areas are still allowed and you have to check with the city very thoroughly.
    Pay 495$ and find out that if you don’t have time to manage you rental property by yourself you can hire a landlord. No, you are the landlord and you can hire a janitor, but by law here in Québec if you have more than 8 apartments you need to have a janitor. But if you hire a janitor for your 5-6 plex then what profit will you have in your pocket?
    So, in conclusion, that was a waste of my time and people from Rich Dad workshop who came to Montreal to teach real estate investment do not know anything about our market, our law, our taxation, our mortgages- they are different for American mortgages, -our refinancing of the houses and use a wrong terminology for Quebec housing and real estate. They just want you to spend money on their useless seminars.
    And when I asked the guys questions he just shut me up sarcastically saying he will answer the questions at the end or he doesn’t want to go to arguments when I said that he gives misleading information! He then mentioned few times that I am negative and he will not tolerate this negativity here. Wow!

    • Sylvia says:

      Hi there
      I’m sure by saying a landlord he meant hiring a management company. There is many management companies that you can hire to take care of your property, rent it and give you the check for monthly fee. It is not as profitable as you doing yourself because if something needs to get fixed they hire someone and give you the bill to cover, now if you hire someone to fix anything you negotiate the price what saves you money but if you don’t live here but somewhere else management company is the only option you have.

  34. Yansheelue Moua says:

    its not about what he says, its about what he does, he is a business person. How many people can sell a book and convince people that this is how you earn money. Also, how many people can get a voice to to reach out and convince people to attend a speech you’re giving. THINK ABOUT IT. ITS ABOUT WHAT HE DOES.

  35. Andrew says:

    I haven’t been the RDPD but others. They are definitely scam-y but not totally. They actually truly teach you a bunch of stuff that I’ve used in my short real estate career. It was beneficial as a novice, but someone in the business probably would not benefit at all.

    Really, at the end of the day you can just say no and that’s pretty much it. I’ll admit that it’s predatory in the sense that they hope weaker people will fork over the cash. BUT I don’t think it’s a scam in the sense that they’re not lying to you.

    They offer you a service, tell you what you get and it just happens to cost a lot. I read through the material that they had for sale and I promise that it looked so good and had so much real information that I would have bought it but simply couldn’t. (The one I went to cost $25,000) I told them I couldn’t afford it, thanked them for the seminar and that was it.

    As for the RDPD book I found helpful. I didn’t really find it as a salespitch for cashflow.

    I am esentially just waiting until I have navigated enough of the market then I will write a book that sells nothing but gives out all the information

  36. Matt says:

    I attended one of these seminars in the UK several years ago now, and yes it was basically a long drawn out sales pitch to get you to part with a further £20,000 in extra courses (which I of course did not) and having already paid £650 for the two day course, (of which half a day was spent playing a bloody board game they were also trying to flogg!). Was a total rip-off in my own personal opinion, and if you want any further evidence then google ‘Rich Dad Poor Dad Rip-off’ and see what comes up!

  37. David M says:

    I went to one of these seminars in Pointe Claire (Montreal) and it was a total waste of time and money. All they did was try and sell me more lessons. Did not learn anything new from the seminar. Shame on you Richard….how dare you steal from good honest people. I should have googled you first before attending this piece of crap seminar. After searching online, I found the CBC video about your practices….

    By the way, I have read the Rich Dad Poor Dad book and it is very good and provides great inspiration. Too bad, you are leeching off people with these seminars. My opinion of Richard has changed.

    Save your money and time…..just read the book. It is very helpful book. If you can download the book, do it…..if he steals from innocent people at seminars then you can download the book online for free.

  38. Gabriel says:

    I’m the one who likes to listen to classical music and the way I heard about Rich Dad education on that classical radio station in Montreal. Fortunately, I didn’t give any money to Rich Dad education and I got so much phone call from rich date Education. The first call I got, I only got one ring phone and then he hung up. When I got those phone call every day, let me tell you I didn’t answer that phone call. To me paying 995$ for real estate course is really expensive and I would never pay that ridicoulous price. I remember when I was there, the spoke person asked everybody how can we get tax free, my answer was with tax deduction and then that individual said no, you should loan money from the bank. Well, even if you lend money from the bank you don’t avoid tax property. Just after I finnish my comment I’ll make an article in French about Rich Dad Education on my blog.

  39. Elliot says:

    Many years ago I was approach by a salesman who promise a steady flow of income if I would purchase their 25K program at-a-steal. Even my friends and family urged me to take it. Being young and naive I took on considerable debt to join their program only to find them nickle and dime-ing me each step of the way. Before finishing, they had the gall to upsell me their ‘expert’ program for an additional 40K. I left in disgust.

    By now most of you would recognize the institution these hustler are from: a major North American university.

    Education is expensive. You either give up time or money or both for it. And truthfully there is no sure-thing-income at the end of the rainbow.

    Before signing on the dotted line I did my research and found a consistent theme. Going on your own, to be successful trading, would take 3-5 years to find a working system, and another 3-5 to back and forward test before you could rely entirely on it for income. And hope you can survive blowing up your account at least once.

    What RDPD does is cut that time frame down and reduces the risk of account blow-up.

    Are there cheaper courses out there ? Yes there are, including one which not only trains you but also offers to fund your account for part of the profits. However RDPD is by far the only one I’ve encountered that offers a comprehensive course on different instruments: stocks, options, forex and futures.

  40. Marta says:

    Well, I just went to the free seminar today and based on what I’ve been reading, I guess I was duped. I still have my 3-day period to ask for my refund of $199.00, so at least there is some hope of not losing any money. Thank you all for your input! I wish I would have read this before I went to the free seminar to save my time from being wasted too.

  41. Jim says:

    he’s a scam artist. These types of people do nothing but prey on individuals. There should be a watchdog agenecy set up to prevent these scammer from stealing peoples money, they should be in jail.

  42. Brian says:

    I’ve taken the three day course as a realtor/investor and there is some value in what they teach. For me it was more for the contacts but they sure were upset that very few took them up on their upsell to the $32,000 package (half price sale today only). I know of one who did and actually brought me an offer after taking some of their courses with all kinds of conditions that were just plain stupid.
    I work soley with investors and I can say that I can show an investor, new or experienced, in 20 minutes how to successfully make money in real estate. And I do this for free.

    • Jessica says:

      I just finished reading Rich Woman and I can sure use some coaching if your willing to help me. The Rich Dad Poor Dad coaches are blowing up my phone but I’m not paying hundreds of dollars for no program.

    • Sam says:

      I will take you up on your offer haha. My parents have been financially struggling to the point that they divorced, and now I am financially struggling just as much. I will love a way out. I actually would try to sign up for the RDPD courses but don’t have a nickel on me. After balancing out my income statement “like how they taught me” I realized only made a 70$ profit each month, not including unforeseen expenses. I am desperately looking for a way out. I guess Rich Dad would target people like me but have the money to do anything. But me, I’m stuck. I don’t like to fall into the fact that this is the rest of my life, but I’m 22 and given up. So young, in so much debt from school, working 3 jobs to live a terrible lifestyle. People say that rich people have all these rich people problems like depression, boredom. I have it all, but no ferrari to cry in. In fact, I don’t even have the time. If there is a saint out there I can really use one. I work hard, but I guess not smart. If some one can mentor me in a way to success I will give up whatever I have left for some shot of success.

      • Steve says:

        Hey Sam, I may have something that you may like. Robert Kiyosaki has talked about this concept in one of his Rich Dad books. You may like what I tell you since this applies to the young demographic. Anyways I’ll tell you more about it if you want to directly email me back!
        Email: steve-pacheco@live.ca

        Thanks.

  43. Kalvin says:

    I have attended free seminar and did not sign up for 3day training. My wife was asking me $200 is nothing if it changes our life and become millioners in some time. I have decided that I will not do any thing if some one forces me. That what I have experienced in that free show that after ever 2-3 minutes they are asking us to sign for 3day training session. I am glad that I come across this blog and specially CBC documentary and detailed analysis of Yelena. Now my wife is not cursing me, we did smart choice not sign up.

    • Teacher Man says:

      Smart move Kalvin. I’ve probably spent $200 on worse things… but not many of them, and not much worse!

  44. M. R. Son says:

    My post isn’t about the Seminars but the Rich Dad Coaching Program. If the below experience is anything to extrapolate by, then form your own conclusions about the efficacy and usefulness of the Seminars.

    Look at the reviews online about the Rich Dad Coaching Program. Mostly negative. Here’s my own personal experience with one of the reps calling about the Coaching Program.

    I got a call from a Kathy Davis. By this time, I had read enough negative reviews online, so I decided to put her to the test.

    When she called, I thanked her for taking the time to call me. I told her that I’d spoken to a couple of friends who had gone through the coaching program and they’d advised me that this program “was for beginners” and not someone like me.

    She proceeded to give me her scripted lines and I told her that there was no point talking about it any further. I then proceeded to thank her once again for her time to call me and wish her well when suddenly and abruptly, *CLICK!* – Kathy Davis, General Manager of the Rich Dad Coaching Program hung up on me.

    I’m glad that I’d put her to the test. She failed miserably (and by extension, so did the company she represents as General Manager).

    My take: buy the books and read them (the ones I read are Rich Dad Poor Dad, Rich Dad’s Guide to Investing and Conspiracy of the Rich – good info in there if you know how to find diamonds in the rough). Then formulate your own strategy for financial success and stick to it fastidiously. There’s no need for you to get into ridiculous and unnecessary debt over something that you can learn yourself with a hundred bucks in books and a few weeks’ worth of research on the Net.

    • Teacher Man says:

      Interesting anecdote M. R., thanks for sharing. That’s my recommendation for Mr. RDPD as well – buy the books, ignore the sales pitches. You wonder at what point money becomes less a means of wealth and more about keeping score for these guys? Like, wouldn’t he just want to write good stuff about buying assets instead of liabilities and ride off into the sunset instead of trying to milk this stuff for all it is worth?

    • Steve P says:

      You gotta add Business of the 21st Century to that list! My favorite book as I’m in a network marketing company. Motivating and it made it easier to tell anyone simply what network marketing is when people want to bash on the concept. I’m pretty sure their all good. I’m going to local library’s to read them. Convenient and money saver. lol

  45. Grahame says:

    My girlfriend and I went to the free sales pitch here in London and we signed up for the three day course at $200. $200 for what was promised to be close to 20 hours of information split between two of us seemed like nothing outrageous.

    My story starts the same as most on here, I read RDPD, followed by Conspiracy of the Rich and worked through the entire RichDadWorld.com online training course (which is 100% free and contains TONS of valuable information).

    A big disconnect and massive problem is that these free pitches, 3-day seminars, and further training courses literally have nothing to do with the Robert Kiyosaki company “Rich Dad Operating Co. LLC”. Rather they are offered, here in Canada, by “Tigrent Learning Canada” (www.tigrentlearning.ca). Tigrent learning was previously called Whitney International (more here: http://bit.ly/MjKkgn). Before that it was called something else.

    With this information in mind I can understand why so many people feel betrayed by Robert Kiyosaki. I tend to believe him in the CBC Marketplace piece where he says he was betrayed by a partner and is not happy his brand is on these products. Basically what happened is that Tigrent, the slickest sales company ever, managed to convince somebody within the Rich Dad company to allow the use of the Rich Dad brand on their, Tigrent’s, products. It’s not hard to imagine how this went. Probably something like this:

    Tigrent sales rep: “We are an educational company, just like you, we encourage learning and many of our services are in line with what you preach in your books””
    Rich Dad rep:” I see, what do you mean?”
    T:”You say to get a mentor, we have a mentoring program! You recommend
    becoming financially literate, we have advanced training classes that cover all possible subjects!”
    etc. etc. etc.

    Some things I have discovered that lead me to believe that the Rich Dad company forced Tigrent to make some changes after the constant slew of complaints started to arise. These are based on reading complaints going back five years and my own experience in the three day course I just completed (6/2012):

    Before:
    No handouts at training, no usable information imparted to attendees, no questions allowed, limited breaks (1 per 8 hour day), “power team” in room approaching attendees with sole intent to sell products.

    Now:
    Text book given out before seminar with instructions to read various chapters before 3-day event begins, workbook handed out at seminar, catalog of advanced courses handed out at seminar day 1 with instructions to read that night (so no surprise on day 3). “power team” in room never approached anyone and instead attendees were encouraged to seek them out for advice, which no doubt leads into a sales pitch. Questions could be asked at anytime during the presentation, from your seat, and the presenter would answer every question until proceeding further.

    It is still a massive sales pitch but it does contain nuggets of useful information that can, if nothing else, help you figure out how to get started in your financial self-education through library books and other cheaper & free resources.

    One thing that I find troubling is that Robert claims he feels it is his mission on this planet to educate others, and that is what drives him, that is fine and I believe him. However this is also the claim made by the people who run the 3-day seminar. The girl (Evie Brooks) who was running ours said she believed God put her here with the “gift of gab” to enlighten others and that was why she did it, it was her way of giving back. Other comments and blogs I have read seem to have the leader of the seminars saying the exact same thing, if not right out telling people they are minister’s or preachers and just want to help humanity. One of the power team members used the term “Human beings” and then back tracked and said “people”, a common mark of someone who places themselves far above everybody else.

    • Teacher Man says:

      That is way too creepy for me. Pretty sure Tigrent nor Mr. Kiyosaki has anything to say that can’t be found on any number of free real estate blogs these days. So many crazy people in this world…

      Thanks for the update!

  46. Marie Lewis says:

    There isn’t certainly anything called rich dad or poor dad in reality. But overall the book is pretty good and inspiring all the way. If only the seminars and all don’t take place. It somehow worsens the image of the book writer and the content of the book itself. I would rather say that I wont like to attend any such seminar, instead would like to get inspired by the book directly.
    Marie

  47. Huy Nguyen says:

    I had read series of books of Kiosaki. He’s a good trainer.

  48. Joe says:

    Never put all of your eggs in one basket! That includes real estate! Does Rich Dad Poor Dad teach this basic rule of investing???

  49. Imelda says:

    I just love his books!!! so informative! Don’t care much about those seminars.

  50. reader says:

    Thanks for the heads up from all you guys… I was due to attend a RDPD seminar, however all it took for me to cancel was to read (here and on other forums) “the $500 seminar is basically a three day sales pitch for the more expensive courses” – How can they justify $44k for a course??? Thats 4 x $10k down payments on more investment properties. Doh!

    I feel sorry for the people who have been scammed by the seminars, however they were probably destined to be parted from their money if they didn’t type in “rich dad poor dad scam” in to google. If they approached their lawyer for advise about “due diligence” the lawyer would no doubt tell them to run a mile away from these scam seminars.

    I too have read Mr Kiyosakis RDPD Book – which is inspiring. Personally i think i’ll stick to the books and invest my money in property rather than worthless “sales pitch” seminars.

    I *had* full respect for Mr Kiyosaki after reading his book, however, having uncovered the outright scam he is involved in, my estimation and respect for him has gone down ten fold.

    *** Good Riddance Rich Dad Poor Dad ***

  51. Deanna says:

    I just arrived home today from the first 3 day course and I have to say that it was awesome!!! The information we were given was some of the best I have ever heard, we were treated with a great deal of respect and were never pushed to buy anything ( there are more courses available but, we were not forced to do anything) I wish people would get information for themselves before saying this is any kind of scam.

  52. paul k choi says:

    I am reading a book right now called Million dollar habits by a Mr. Ringer. It is a self help book that you can rent for free at your local public library. You might learn something new.

  53. Tanna says:

    I went to the first free and second paid seminar . The second was a discounted price if 199.00 for two people. They were rude the entire time and did not allow questions. Also made some derogatory comments to consumers of this seminar. The speaker also stated that the company hires people to make positive statements online to offset the negative ones. Use discretion when making decisions about giving them you’re money. Most of the information you can find out on your own. Most people are too lazy and unmotivated and those are the people they prey on. Robert is the largest hard money lender in the US. He is good at what he does and needs to keep a lower class and upper class to make his money. Take caution.

  54. Pam says:

    Robert is a very smart guy and I have actually had the opportunity to talk with him one on one. He had a lot of good things to say and has actually helped me with my finances in a way.

    Pam

  55. JoeRich says:

    It seems there is a new wave of these “free” seminars that is called Real Estate Pickers. The schema is the same you have commented in these blog. I just attended their free seminar in Montreal this weekend. They sold a 3-day training the next week, for $197 (below from $1197 after a special scholarship of $1000 exclusive to who sign at that moment, and from a full price of $2500 for those who didn’t attend the free seminar)
    Be aware of this.

  56. Marie says:

    I was just at the local Rich Dad free seminar tonight. I saw the CBC investigation so I knew what to expect going in, but even knowing it in advance…holy hell!

    The man was calling us all ignorant, negative, “whiny babies” (his actual words). At one point I stood up and asked, “If I sign up for the $200 course am I going to get pressured all weekend to sign up for a $5000 course? Because I’m feeling like that’s all it’s going to be.” And he responded in a slightly mocking tone, “Oh, are you feeling PRESSURED?” Then don’t sign up for the weekend course. (the $200 course was a “special deal” for the first 2 people who ran up like idiots to sign up right away… regular $1000. Oh, but wait! It turns out that the rest of us lazy suckers who didn’t get off our fat butts fast enough can also get the bargain deal of $200)

    And then he proceeded to continue to call us all ignorant (and especially seemed to make a point of looking straight at me) and essentially said we were losers if we didn’t sign up. I actually was INTERESTED in learning about what they have to teach on the weekend event but I am not going to spend my money and especially give them my valuable time, so I can be taught for a couple hours, and then lectured and manipulated and pressured all weekend into signing up for another course.

  57. richardt1850 says:

    I am going to one of the ”FREE” courses in Edinburgh, Scotland on Thursday the 29th of November 2012. I seen the add for the free course on Facebook, it kept appearing on the side of my page in like spam. I am a self employed sales man and know all the bad tricks in the book to sell stuff and trick people into thinking they are getting a bargain (also worked for a few bad sales company’s in my younger days) I will report back here to tell you how they are doing this in the UK and what tricks and scams they are pulling as I am very interested, and you never know I might learn a few selling tricks from the people running the show. It says all attendees get a free lunch and CD, Is taking place 5 mins from my house so defo worth a free lunch haha. I have a feeling this is going to have the same vibe as a time share sales pitch with lots of easy to digest jargon and case studies of made up people.

  58. Janice says:

    I lost so much money on them and it makes me so sad. The whole seminar was just empty talk with no real information on who to make money, turned out that the speaker lied about having made it and was actually poor. I was fool by a master thief. I should have paid more attention to all the scam reports for rich dad scam report and tigrent scam report.

  59. MartyR says:

    Glad to have read this while waiting to attend seminar in 20min. I’m not one to be easily sold but can now treat this as entertainment.

    • K says:

      Glad to read this, Marty! Funny/ironic thing is that it’s the people who wouldn’t do a search who are much more likely to get taken by this scam. Anyone with the sense to investigate a bit probably wouldn’t be so easily sucked in, anyway. But glad you armed yourself with the information ahead of time! :)

  60. Michael says:

    When I tried to refund the wouldn’t answer.

    They have a system o high pressure selling which isn’t illegal but quite immoral.

    The problem thou shows up when you try to use get refund then they will not answer.

    It scammed me on $15000.

    Robert Kiyosaki is the most hated man on the web.

  61. Jan says:

    It is most definitely a scam. I went to the freebie and at a price of 199 decided to take the 3 day course and see if I could obtain at least a nuggets worth of a partial idea. Boy was I wrong, long story short after about 1/2 a day a called it quits. The whole system is geared towards up selling and essentially you are paying to be a hostage and insulted and belittled if you appear to step out of line. My favourite part is the “honour code” which works out like this -

    no interruptions
    respect for others time and opinions
    be positive and supportive
    patience
    *call it out (if you hear anyone critical of the program, tell one of the instructors so the can be dealt with)I’m Not kidding!!!!

    “no negativity”**

  62. Rowan says:

    Thank you all for your experiences, especially young and thrifty :) I already said my piece about the ‘fake’ positive comments – in my opinion. The ‘negative’ ones sound more real. Thanks again for the great service.

  63. Joe says:

    Yup it is a scam.

    Still going.

    The RichDad team are coming to London.

    http://rdkr-lon.localspecific.com/

    Stay away!… unless you are a blogger / journalist wanting to cover the truth of the matter.

  64. PaulyG says:

    Let’s look at some facts.

    The people conducting these seminars are NOT real estate investors themselves.

    Mr. Shamy, who often only speaks to larger “more profitable” groups at the free presentation has never invested in a Canadian Property; he’s not even a Canadian Citizen. He is a professional huckster or seminar giver. His job, and his paycheque is based on how many people he can sell into the RD 3 day training. One day he calls himself a stock trader, the next, a real estate investor, the next, Chef Shamy because he sells garlic spread.

    Miss O’Brien, who now is also pitching at the free seminar, is a canadian, but has only a very modest primary residence. The High Pressure 3-day seminar givers are also mostly from the US, and give very vague and fuzzy explanations of their own investments. They imply a great deal, but actually say very little.

    Everyone you will ever meet from Rich Dad Education in Canada is on commission.

    This means every word that comes out of their mouths is designed to sell you some training, more training, a mentor (more on that later), coaching, etc.

    You don’t get what you pay for.

    Years ago, the first RD 3-day training course (which is actually a very high pressure 3-day mind warping sales pitch for more very expensive classes) was offered for $500. After the CBC story broke a few years ago exposing Rich Dad’s sales tactics, seminar attendance dropped. Coincidentally, so did the cost of the 3-day training, which was reduced to $200, except in Quebec where attendance was strong at first. As news of RD’s bankruptcy and the many law suites against the company emerge, my guess is that the price will drop again to $100 or even $50 with more “free stuff” thrown in to entice new customers.

    The “loser question” is the most important one to ask.

    Mr. Shamy will say, “A winner will never as the loser question, what percentage of your students are successful? Instead they ask, what’s my cut, what’s in it for me?” The objective here is to steer the customer’s thoughts away from the company’s track record, and keep the focus on the money or greed, which is usually the thing that got most people there in the first place. Well, what is the success rate? 75%? 50%? 25%? 10%?

    Consider this.

    Each year, tens of thousands of Canadians are enticed, through intense internet marketing into these free seminars. Thousand sign up for classes, and yet you will only find a handful of testimonials, usually from US customers. When you do actually see a Canadian testimonial, you will be shocked to later find out that they are now working for RD as another high pressure pitch giver further down the food chain. Did they make claims in order to obtain employment? Were their “stories” ever verified, and by whom, the RD people?

    Mr. Kiyosaki’s account of growing up in Hawaii and being raised by 2 Dads now appears to be just a nice story used to illustrate a point, but those seminar givers will tell you that it’s true. People believe what they want to believe. I am always amused by the bloggers who come to the aid of these Guru’s when the facts come out, and their business models are exposed. When did greed become the new religion?

  65. Sly says:

    I know people who have invest in an engineering degree and are working as a truck driver.

    Did they get “scam” by the university?

    Rich Dad is an education, what you do with it is up to you!

    I attended the seminar and NO, I did not buy the course.

    What turned my off was; Just like a car salesmen…. Buy now for this price but tomorrow it will cost you some $4000 more.

  66. Dave Drew says:

    This kind of thing irritates the crap out of me. I can’t believe the company has not been indited for fraud yet.

    I heard Rich Dad screaming about real estate way back when his first book came out and he made such fun of stocks and talked about what a rip off stocks were back then, and then he promotes stocks several years later, and now he’s back on the real estate band wagon?!

    It’s a shame there are suckers with money who will fall for this garbage and lose their money.

    My internal dialog screams scam all day long on Rich Dad garbage. It’s too bad some people don’t have that BS meter inside of their head.

  67. jessie says:

    My wife and I fell for this six years ago, at the beginning of our marriage. We paid all that money and even got our credit card limit raised, like they said too. We are still trying to pay off our debt. They promised so much and the only thing we have to show for it is the game, “Cash Flow 101″. I feel sad just remembering how we were suckered in. We learned a great lesson and we will never do anything like that again. We were very foolish to believe that we could, “get rich” by raising out credit card limit and paying them so much money. They never gave us the things they promised and did not return any money to us. I hope that Robert K. is not being dishonest with people and their hard earned money. I hope he is really helping people out but it sure doesn’t feel that way. We hope and pray some day all this debt will be payed off. PLEASE don’t make the same mistake we did. DO NOT “invest” your money into this program. :(

  68. P says:

    Don’t go to Rich dad courses. Take $3000 and join REIN Canada you will get more for your money than anything rich dad can offer you. I went to the $500 dollar 3 day course and my group was told off because no one could afford $84 000 for advanced courses. Because of REIN I know where to put $84 000 and make money with out raising my credit card as rich dad wants you to do. All advanced training in Rein is free for members or very cheap. I found my mentor in REIN and only cost $5000 and I can call him any time. rich dad mentor cost $11 000 and you can call him once a month. I hate rich dad so much that I will not associate or do any real estate business with any one who works for rich dad. I will not even connect with them on linkedin

  69. PaulyG says:

    Jessie, I am so sad to hear that you are still paying off debt from this Rich Dad scam. What most people don’t realize is that the betrayal goes far beyond the very expensive, overhyped training courses.

    Most of these training course packages include a highly touted “mentor”. Make no mistake, this “mentor” will ask you for all of your financial information. They will tell you it’s so that they can help you progress as an investor, but it’s really to find out which of their “students” has a large sum of money available. Later on, after they gain some trust, they will make these “select” few students aware of some other investment opportunities they personally have going on, promising big returns. These investments are strictly off the Rich Dad books, and people are told they can never report any of this back to Rich Dad or they could loose their investment. Most never do because they are humiliated that they got suckered-in, yet the administrators for Rich Dad in the Toronto office are probably well aware that this is going on. In fact, they are tightly connected to these Canadian mentors after all they employ them and arrange their schedules for them. Do you smell something foul?

    It’s doubtful that Robert K has much knowledge of this or he would probably shut it down, but by this time, he’s already made his money. Remember, these mentors and trainers are not employees of Rich Dad, but contractors on commission. This is how Rich Dad escapes liability for what is said, promised and done by these people.

    For most people, when they sit through their first introductory seminar, all kinds of red flags go up, (the speaker’s not really an investor or Canadian, the property with his daughter was a big set-up… duh? does anyone really believe that hogwash?) and they walk. Everyone should! But a few get lured in by the cheap discounted price of the first 3 day class, not realizing it will be 3 day of hardcore sales tactics for those very expensive classes and a mentor. Those classes usually include more up-selling, and those mentors are only there to line their own pockets by the unsuspecting and greedy.

    When the CBC investigated Rich Dad years ago, they only hit the tip of the iceberg. As responsible journalists, they need to dig a little deeper next time, find people who have lost tens of thousand investing with Rich Dad mentors on the side. Only then will people begin to see this organization for what it is – a huge, well organized scam.

    Again, BUYER BEWARE!

  70. alex says:

    I don’t really get how people even get caught up in this, I’m only 20 & I happen to have come upon the book. After reading the first few pages, and based on the title, I could tell this was either a scam or something.

    One thing I look for with personal finance books are the words like rich, especially sentences like: How to get rich.

    Whenever I see these words, it’s easy to tell someone is trying to get people to read his book, no one doesn’t want to be wealthy, but when someone uses the word rich (and actually means wealthy), you can tell this person is trying to get you on a hook.

    From the first parts of this book, it’s clear that this guy is all about money, pretty much willing to do anything for it.

  71. Aj says:

    Dear Misguided Audience,
    I read through the thread and unfortunately most of what I see is the same problem with our society. It is mostly made up of complainers and individuals ripe with cynacism. The seminars and education are like anything in life. You get out of out what you put into it and expect (self-fulfilling prophecy. A resonable person understands that no one is going to teach them to be successful without having “skin” in the game. Quit expecting to be educated and taken care of without paying a price!

    “I can learn it someplace else or it costs too much.” Well to address that you go out to dinner and are willing to pay someone over and over again to cook your meal. the difference is the restaurants nickel and dime you during the year for your laziness. The market corrects stupidity in a moments notice. Bottom line is one way or another you are going to pay for it.

    In regards to the post about having “plants” in the audience. The reason why you may feel that way is they will invite you to come back out to the events as a student to learn and interact. Does it help with testimonials….I am sure it does. However, it’s also great information that is provided and a refresher for the students. Not to mention the infromation it provides the audience about what is happening to our economy.

    In the end, sales is sales and information is information. I just recommend the next time you want to bash a company for educating America on something that will help them look in the mirror and ask yourself about your own job. Do we really need whatever it is your providing service for or selling? Does it at least help us and enlighten us? Otherwise, “Judge not least ye be judged”

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