I Went To See Rich Dad Poor Dad Speak Today (REVIEW)
 

Hey guys, just woke up from a nap since I only got 3 hours sleep last night (had to wake up at 7:00am to get down to register by 8:30am).

Ok here is the review...

First and foremost Robert Kiyosaki is a fucking jerk.

When we got there there were approximately 500 people (whom all paid $500 each) waiting to get into the seminar room. When we got in there Robert came on stage and everyone went Woohooo and cheered. He went over his past and how he overcame conventional wealth wisdom to get where he is now. Soon after that he started laying down the rules of the seminar

- no standing up to go to the washroom or you have to walk up to the stage and give him $10
- no beverages or food in the seminar room (even though they supplied water IN the actual seminar room) or you will have to pay him $10
- no disturbances in the seminar room or you pay $10
- If your cell phone goes off you have to pay $100

Basically you did anything other than sit there and listen to what was going on you had to pay him money which he said went to putting "Cashflow Games" into school systems LOL! If you don't know already he OWNS the Cashflow game ;)

Anyways this asshole was very abrasive to many people in the crowd including one young asian man who asked a question about equity in his property to buy other propertys and if he should do that or not. Rich Dad ridiculed this poor kid infront of 500 people and would not let up. I honestly was so pissed off I almost got up and left (But that would have cost me $10 LOL!)

We spent 3 hours playing Cashflow with other members at our table and he would get us to discuss what he said every 10 minutes. Luckily I had some pretty cool people at our table but we all felt that Rich Dad was a jerk and a total egomaniac. I even went to talk to one of his employees and inform him that i didn't like the way that young man was spoken to and ridiculed and that he was owed an aplology. The employee said that Robert is very "raw" and says things like that all the time... I told him, well I guess money can't buy him class because he's a fucking asshole LOL! They didn't like that much! Hahahaha! It seems they are all brainwashed by this idiot and are under the idea that since he's worth quite a bit he can treat people like trash.

Long story short he went over NOTHING new and just rehashed how great he was and everything in the book. He tried to upsell the crowd on his other books and games at every turn and you were constantly bombarded with promotional information from wealth advisors that were local in the area.

In addition to all of this you could not hear a damn thing in the back part of the seminar and they had to fix the audio system like 3x before the afternoon. You figure $250,000 in tickets would buy you at least a somewhat decent speaker system LOL! The guy beside me wanted a partial refund because you could barely hear what the guy said. Plus the video system did not work so you could not see him on the big screen.

My review - He's a total fucking asshole and I will not spend one more penny on any more of his books. The only good books I found were Rich Dad Poor Dad, Cash Flow Quadrant and Retire Rich ad Retire Young. Don't bother going to any of the speaking events unless you want to be treated like a child and you like being berated infront of large audiences. Total waste of my money but hopefully Cameron (who has never read any of the books) will get something out of this.

DH

P.S. I actually got to get up and pose questions directly to Rich Dad in the morning and I got a round of applause when I said I had purchased 10+ properties using his system and one of his aides asked for my card for him. Maybe he wants to put me in his success stories book, but if that motherfucker calls I will tell him where to go... Plain and simple.

Wow. He sounds like a total douchebag, although I kind of expected him to be one after seeing him talk on TV in the past. I can't believe he gets away with charging people $500 for tickets and $100 if your cell goes off. I'd punch a nugga if someone said I owe them $100 for my cell going off during a lecture.

Very Interesting!

I have read Rich Dad Poor Dad, and loved it

I also bought Cashflow Quadrant but still have to read it

DH, do you do RE in Canada or the USA?

I buy primarilly in Canada but I do have a condo in Pt Vallarta Mexico and am planning at buying some real estate in Costa Rica.

DH

are US laws similar to Canadian RE laws? Such as you are allowed to trade up Real Estate and pay no taxes those?

Also, did you get a RE training and licence? Or do you not need one for doing what you do?

In the USA you can reinvest your capital gains you make from a sale of a property into another property and not pay tax on it (at least that is what I heard last time I looked into it). However in Canada you are liable on your capital gains on properties but there are ways to minimalize your tax exposure... Best thing to do would be to contact a good tax accountant that can go over your personal situation and suggest the best route.

I don't have a RE license but one of my staff is just finishing their test so they will be able to buy/sell properties on behalf of me and we will be able to reap the rewards.

DH

Noooooo! Don't you know that's the worst place ever to buy real estate? It's like Ethiopia and it's smarter to bury your money in your yard. At least that's what Brad and Cory told me when I said I was talking about buying some property there :thumbsup

BTW, had I known you were going to the seminar, I could have saved you $500. My Dad knows him from years ago and has always said he's a jerk who's made more money selling his books than he ever did doing anything else.

That's cool someone in your office can have a RE license like that. Here in Georgia a broker has to "hold" your license and until you reach broker status, you have to basically pay them to work. I plan on taking RE classes but not get a license - I just want the knowledge for my own properties (I do land, not buildings).

The guy went from being your hero to a zero over the course of today eh.

Kinda. It's called a 1031 exchange and it can be tricky.

If it's your personal property which you lived in at least 2 years in the past 5 you don't pay capital gains taxes on the first $250K in profit if you file single, $500K in profit if you file married/jointly.

Also that cocksucker was trying to sell his game for 295 today but u can buy it off his website for 195.

Yep he truly did, you were there and you can attest how my face just dropped when he started berating some of the people.

It was like finding out santa clause isn't real.

DH

Hehe well to each their own I guess... I personally think prices there are only on the rise and it's just a gem of a place.

DH

Or the used version that we played with at the seminar for $250 LMAO!!

DH

Cashflow Quadrant is a great book, especially if you loved RDPD.

As for RK being an ass, I kinda figured he was from a few interviews I've read about him over the years. Sorry that you had to spend 500 to find out though hah =\

That is EXACTLY what I heard from someone to has similar experience to you as far as real estate :thumbsup BTW, he said that while not as pretty, Panama has property for less than 1/2 the price. That's where he's going to buy.

wow - i expected more from richdad.

you def got it right though DH - money can't buy you class.

funny though - as a financial broker i saw people from many occupations and met many who made it big - and i think there are more LEVEL headed people with class in this biz that made it big than any other I know of. We tend to get a little spoiled and forget just how fucked up the rest of the world and the people in it really are..

http://www.johntreed.com/Kiyosaki.html


My favorite part:
Main speaker at Jon Richardshahaha8217; note convention
Jon Richards invited me to speak at his 2000 convention. I declined on the grounds that I do not know the note-brokering business. I later learned that one of the other speakers at that convention was Robert Kiyosaki. Jeez!! Jon needs to raise his standards, both in terms of making sure the speakers have note expertise and in terms of not headlining B.S. artistshahaha8212;best-selling author or not.

[Herehahaha8217;s an email I got from Richards after he read the above.]
hahaha8220;Wow! You could not have been more correct. The guy was extremely arrogant, and gave us no information about Real Estate or notes or how he made his money. He seems to have come up with one idea about investing in assets and is riding that pony to lots of best sellers. I have never been so appalled at a speakerhahaha8217;s ability to talk for over an hour and share no substantial knowledge. How in the world could he have 3 best sellers? Ithahaha8217;s frightening. In fact, I think if you look at the Wall Street Journalhahaha8217;s list of best selling business books you will find primarily a list of simple minded garbage. (e.g. Who Moved the Cheese?)hahaha8221;

Wow, I'm sorry to hear that DH. Although I'm not surprised about the constant upsells in these seminars, I can say I'm surprised the success has went to his head. Its disappointing to hear that the man that inspired you to become this successful in property management would be such a prick.
WG

Well fuck me DH .....

Who'd have thought ?

Well, like you said, money does NOT buy class.

We have lots of examples of that around here too.

2c

heh, and some people jumped on me when I said he is not a "most underrated financial mind" in the other thread...

At least you know the real secret of him getting rich... Charging all those stupid penalty fees in the seminars.

.... and how exactly would he charge you $100 for leaving? You could just leave, yell a big fuck you on the way out, and be gone without paying a penny... and really, I don't think he was serious, it can't be legal to charge people $10 for going to a bathroom, he was probably just fucking around....

i think this is the first time ive seen you post anything other than "50" or "100"
:1orglaugh :Oh crap :pimp

wow thanks for typing all that out. I was interested to know how that went and too bad he's such a dick.

I read his books and played his game (way overpriced) and I wondered how his conventions were.

If I ever go to one (wont now) Ill go with some friends and hit the front row wearing some depends and stink up the joint a bit to save the 10 bucks..haha

Paying him to go to the bathroom or leave for whatever reason... fucking joke.

IF you are going to buy any of his books, just stick to Rich dad, forget the rest. He brainwashes you into thinking you need to "invest in your knowledge". But he doesnt know anything more then RDPD. I skimmed the books at a book store and thought it was re-hash. RDPD works but he doesn't know any more then that.

That does not imply that he is not an idiot personally.

I stand by that for his original principles.

Go back and read what I wrote in the other thread Woj, in CONTEXT.

:2 cents:

CLUE:
Hey at least he showed you how to make money.. Hold a worthless seminar for idiots to pay $500 to see..

Damn, DH! That really sucks. Sorry to hear you had to go through that. What a disappointment to hear he's an ass!

Ask Cameron, he brought in easily $1000 off that scam, I'm absolutely TOTALLY serious. The whole day people were running up to the stage dropping off $10 at at time.

You should have seen the wad of cash on the table on the stage.

DH

Seriously dude, what a dissapointment from me. This was one of my financial heroes and he made me a ton of cash with his principles.

Going there and seeing what I saw basically was like an 8 year old finding out there was no santa claus. :(

DH

That's awesome. Too bad he didn't start punching people too, then he'd be my hero for life.

Hey Lindsay, yeah man I was totally flabbergasted and sat there for about 10 minutes with my jaw dropping to the floor. Cameron who went with me was also so suprised the guy was such a dick.

I posted this review over on the rich dad poor dad message board haha! People over there are so brainwashed they are saying things like "you must work for ABC and be out to headhunt the guy" LOL!

I won't post the link to the message board but you can find it off richdad.com

DH

LOL! Well he's almost 60 so I think I could have taken him.

DH

Rich Dad Poor Dad is the biggest scam he makes all his money off his books and bullshit I wouldent ask that guy for anything. If you want real advice check out this guy http://www.daveramsey.com He has changed 1000's of people lives.

Dude, if you just started hip checking and judo tossing people off the stage, I would be now be bowing down in your greatness.

Remember, whenever you're unhappy, dissapointed, broken hearted or otherwise upset, there's always a single answer: Violence.

I am half asleep so sorry for uneducated reply but seriously Dave Ramsey offers life-changing financial advice. http://www.daveramsey.com

Dave Ramsey has some decent guidelines for getting out of debt, but I haven't found it very useful for a guy who is moderately succesful and doesn't really know where to go/what to do now.

Also, he calls on god too much for my liking.

I read rich dad poor dad a LONG time ago. When I was in junior high school I think - over 10 years ago? I wonder when that was published. I don't really remember what the book was about, maybe I'll go read it again.

Thanks for the reveiw DH

His books are good (cashflow quadrant and rdpd) but not the bible. I am really glad I couldn't go.

99% of what is said in RDPD, by Dave Ramsey, Suze Orman, Clark Howard, etc. is basic common sense.

Teaching at least ONE economics and basic living requirements (how to write a check, balance a checkbook, figure out APR vs APY, why you DON'T just pay the minimum on a credit card, rule of 72, etc.) during high school would help tremendously. My son's school did this and it really helped them understand when they covered in CC applications during college.