Saturday, April 25, 2009

Rich Dad University is a SCAM

Selo and I went to this free seminar a few weeks ago. It was put on by Rich Dad Academy, and gave some tips for financial education. They pushed super hard for people to sign up for this more advanced 3 day seminar a few weeks later that cost $1000 a person. Well, Selo and I found some good information from the free seminar and figured we could learn a lot more from the more advanced one. We got a deal to let us both sign up for $500- and bring a guest, and they gave us Robert Kiyosaki's Improve your Financial IQ package. So three people at $500, instead of $1k a person. Not bad for some great financial information right? Wrong. The 3 day seminar was just another gimick to push you to buy into the Rich Dad Academy, which is between $10k and $50k, depending on which courses you want to go to. I would have had more fun looking for whole life insurance for three days. Sure, we learned some good financial info during the three days, but not enough to justify $500- even divided by three people. It was 50% pushing for the advanced seminar, 25% info, and 25% playing the board game Cash Flow- which was another outragious price. They were selling the game unopened for $200, or opened for $150. But did you know you can purchase an UNopened game on eBay for around $50? Also, when Selo and David each tried to request the contact info of one of the reps there, they were told by the rep "we don't have time to talk to you, no you can't have our contact info".

The whole thing was a waste of time. We could have learned the very same information by browsing around the web and looking at the free content on their website RichDadEducation. The free seminar would be worth your two hours of time, but don't get sucked into the rest of the BS they try to sell to you. It's a waste of money, and not even worth the time spent there.

*Note: This is my opinion of this course. I have no association with Rich Dad, and I am not being paid or compensated for my opinion of this course in any way. If you are intersted in attending this course, or any Rich Dad Academy course, please make your own decision sbased on your own research and experiences.


A_dreams said...

Hi Can you please go in depth in what u actually learned at the 3day course..i think ive been suckered into the purchase and now having buyer's remorse. What were the great things about the 3 day seminar, were there keep tricks you can use to do business/real estate/investments better???

*Marie* said...

Sadly, we felt it was a complete waste of time, and money. We were there all three days, took notes, and listened intently. But, the whole thing was about pushing to sale the next program. Thinking back on it, there is nothing we remember except the extreme sales push. We don't recommend the course to anyone that doesn't already have a small fortune they aren't afraid to take huge risks with.