Home > Known Scams > Rich Dad, Poor Customer

Rich Dad, Poor Customer

6 Comments

The CBC Marketplace recently ran an undercover investigative piece on Robert Kiyosaki’s Rich Dad, Poor Dad real estate seminars and their results were less than stellar. The seminars cost $500 and last for 3 days. By the end of the three days, you’d think you’d have some information on how to make more money or better your standard of living. Instead, the CBC found that the $500 seminar was just a way for Kiyosaki to continually upsell you on more seminars and products that could cost you up to $45,000.

The CBC writes…

Robert Kiyosaki, best-selling finance author of Rich Dad, Poor Dad, has spun-off his book into a self-help empire of TV shows, board games and investment seminars — a string of which are scheduled across Canada. But rumblings are being heard from the hundreds of hotel ballrooms across North America where Kiyoaski’s Rich Dad seminars are staged. The complaints? That initial Rich Dad sessions focus less on education and more on marketing and upselling further sessions that cost up to $45,000.

Marketplace investigates these concerns using hidden camera and reveals the aggressive sales tactics used, where participants are urged to increase their credit card limits after being pressured to spend tens of thousands of dollars on advanced courses.

Erica Johnson asks Kiyosaki directly: what’s really going on? Are Canadians being lured by the Rich Dad name to spend money on weekend workshops that seem really designed to sell them more workshops?

I highly suggest you watch the full 22-minute Robert Kiyosaki undercover piece online at the CBC Marketplace now. It’s quite revealing and could save you or someone you know $500 or even more.

Have any of you been taken in by a Rich Dad, Poor Dad seminar or even book? I’d love to hear your experiences in the comments below.

There's only ONE program I really recommend. It helped me turn my 'hobby' into a $10,000+ per month money making machine. Click here for the exact formula I followed.

6 Comments

  1. Boise Attendee says:

    I attended the Boise 3 day seminar, and I was taken in at first by the instructor’s personal stories and knowledge of wrap loans, seller carry-backs, and lease option agreements. But the instructor only gave you enough information to pique your interest before moving on to a different topic. On the 3rd day came the hard sell, and when he wrote down the cost of the “next level” of education I was shocked. It broke my heart to see retired people, young people, and naive people flock up to the front of that room to throw their hard earned money at something they could have gleaned from a book at Barnes & Noble for $30.00, or could have called a local RE Broker and done deals the right way. The Rich Dad companies should not be allowed to conduct business in our great nation. They just take advantage of good people.

    Reply
  2. Stick to the books and buy nothing else. Never pay for the seminars! The seminars are a seperate company that license the Rich Dad brand and are indeed a ripoff. The info “taught” in seminars can be attained in books by other authors for 20 bucks. Kiyosaki’s books are philosophy. What you want from the seminar is technical knowledge so buy technical books. Although dont disregard kiyosaki’s books. I contribute some of my success to what i learned in his books. For example the 2008 economic crash was very good for me financially. Also try audio books. An 8 hour seminar may cost 200 bucks while an unabridged audio book will cost approx. 20 bucks.

    Reply
  3. Lynda Lawrence says:

    My husband and I attended the Rich Dad Poor Dad Seminar in Boise, Idaho, and were told by the representative we had access to a software service for a monthly fee. We weren’t ready to start the program at the time, but were told by the representative that we could activate it at a later date with no problem. We later discovered we were being billed each month for this service, my husband called to complain, and was told they’d discontinue it, but we continued to be charged. My husband called again and was given an email number to contact to cancel the service, but it didn’t work. After several months of being billed, I called and Don gave me another email address for cancellations. He stated we would not be reimbursed for any charges, all it would do is cancel the service. I had him spell everything out so I had the correct information, but when I used it, of course it didn’t work. Does anyone know who I can contact to cancel this service?
    Digusted Customer.

    Reply
  4. So he’s basically the Scientology of personal finance? (ba-dum ching! Thanks, I’m here all week, don’t forget to tip your waiter!)

    Shocker, that. Pretty sure this guy is from Indy, or near Indy, and I’ve been hearing bad things about this guy for pretty near two years now. It shames me to live so near the origins of such a shyster.

    To get off-topic, I just found your very informative blog via a Google search, while looking for ways to monetize my own blog successfully, and/or find quality freelance writing opportunities. I just wanted to say thanks for being around and doing your thing. You rock! And I’m totally bookmarking you now.

    Reply
  5. I did sign up for the Rich dad Academy , and I like to know how I can get my money back, $35K+ can you help?

    Reply
  6. Steve,

    Great report on this. I have always been one to favor The Automatic Millionaire over Rich Dad Poor Dad for the very reasons you’ve mentioned.

    The Automatic Millionaire teachers the fundamentals of paying yourself first and saving what you’re not using. Not to mention it deals with the idea that hitting up the local Starbucks every morning on that morning commute is just one of the ways we waste a lot of money.

    I have never been a big fan of people charging outrageous prices for seminars and the sort. Thank you for bringing this to people’s attention

    Reply

Leave a Reply