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Rich Dad Poor Dad


1 Reviews & Complaints

Rich Dad Poor Dad - Kiyosaki - Coaching Program -Expensive & Overrated
Posted by VickiN on 08/18/2008
After reading several books in the Rich Dad Poor Dad series by Kiyosaki, I decided to contact them regarding their coaching program.

*Expensive: Eager to exit the "Rat Race" and to increase my knowledge of real estate and business ownership, I enrolled in their coaching program to the tune of $5000. This program guaranteed unlimited access to the "Resource Line Coaches" and 1 weekly 1:1 conference call with a coach for 14 weeks.

*Coaching time limited: Little did I realize that this call was limited to 25 minutes, with most of it spent asking me questions about "how my week went" and at least 10 minutes was spent giving out next weeks assignment.

*Hidden cost of additional material: I was expected to complete weekly assignments which included purchasing another book or two in their series and completing an on-line questionnaire.

*Resource Line not available, no help: When I called the resource line, I was on hold for over 20 minutes listening to clips of Kiyosaki conversations. At which point, I gave up and left a message. A call was usually returned within 2 days. Each time a different person answers the call and you must restate your background and questions. Although I was asked to complete an on-line profile, the "coach" was not familiar with my situation. The calls were limited in time and most answers were asking me "What do you think you should do?" or the coach was not familiar with my area.

*Did not receive all services: I was not allowed to reschedule any conference calls, although my coach rescheduled 4 of the 14 calls. I did not even get a call back for the final session. Although I completed all homework assignments and submitted questions 24 hours in advance, there was never enough time to answer my questions.

* To summarize, I would not recommend this course. I did a lot of reading and writing, but this course was not as advertised. I did not reach my goal of purchasing a laundromat and do not feel any closer to exiting the Rat Race. I do think I helped Kiyosaki & Sharon in their quest to provide a fancy, expensive package of general material which helped line their pockets.

     
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Posted by Anonymous on 2008-08-18:
I;m so sorry you went thru this. Just a thought, going forward, always check online reviews BEFORE plunking down your money for seminars and such. Most of them are just a silly pyramid scheme or a lot of hype, such as this one.
Posted by Slimjim on 2008-08-18:
There is an old saying. "Those that can, do. Those that can't, teach." Good review.
Posted by chris513 on 2008-08-18:
slim, great answer.
Posted by Anonymous on 2008-08-18:
I always found it interesting that the "rich" people telling other people how to get money always has them buy their books. I think most of these how to get rich books are just as much a scheme as any other get rich quick scheme. Anybody that says get rich by giving me money is (to me), nothing but a schemer. And, if not for some sound financial advice from family and friends that said if they ask for money, don't do it, I would probably have lost a lot myself. I would say that was pretty sound advice and has worked well for me. As already stated, good review, hopefully it will help others.
Posted by Sparticus on 2008-08-18:
I can't stand these books. I've read a lot about the authors and one word comes to mind... arrogance.
Posted by old fart on 2008-08-18:
You spent 5000 smackers on a sales training program...??

I'll bet 98% of the "course was devoted to PMA, (postive mental attitude) a la Napoleon Hill... or "think and grow rich" philosophies...
Or is it based on "The little Engine That Could", "I think I can, I think I can, I KNOW I CAN"...

This just proves once again that, "there is one born every minute"...
Posted by Anonymous on 2008-08-18:
Kiyosaki is a well known con man. A while back, one of the financial magazines (I think it was Smart Money) finally forced him into admitting that his "Rich Dad" didn't even exist. Rich Dad was a "character" that Kiyosaki made up to illustrate the advantages of being self-employed. Nice if one is writing fiction--but it just makes RK a liar. As a matter of fact, a lot of his advice is suspect.
Posted by old fart on 2008-08-18:
I was in sales 40 years before I retired and the one thing I found is that there is no substitute for "gasp", HARD WORK"...
there are many programs that promise instant sucess in the market and not one of them shows, only tells you how to be sucessful.
When I retired I said goodbye to all the young sales managers/ gurus who had all the magic answers to riches and fame when the fact is that all they did was con their employers into believing that they were the chosen son of the almighty..
What's even sadder is tht the employers swallowed this swill because of their inherent greed, forgetting that quality service and attention to the customer's needs was paramount and would generate all the business they could hope for..
Posted by revan on 2008-08-19:
I saw his PBS special and he seemed like a nice enough guy but "con" is short for confidence. Anyway I don't trust anyone on PBS preaching about how they have the answer and then they want you to buy something. Was Jesus a saleman?
Posted by Seniorpreneur on 2010-02-13:
Let's see if we can solve this problem. As I understand it your business goal was to purchase a laundromat. Using my 'special powers' as a Seniorpreneur, my first inclination would be to find my favorite Real Estate Agent and have him find you the best deal ever regarding any present laundromats for sale. With the $5,000.00 (spent on a seminar course) I would have used this money to put a down payment on the laundromat you desired in purchasing. This action would have got you started with some good debt as is required by the teachings of Robert Kiyosaki.
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