Rich Dad Poor Dad

In the 1990’s, author Robert Kiyosaki wrote a book called “Rich Dad Poor Dad”. This was one of the very first publications that he has participated in that is now all over the world. The brand that has grown from the book teaches about financial literacy through business building, real estate and paper assets. I was first introduced to his work in mid 2002 and attended a number of workshops from then until mid 2007.

Although I initially received some benefits such as networking and being exposed to new opportunities, I found the sophistication level of most of the attendees to be rudimentary and oversimplified. One very large point that he does not discuss in depth is the impact of the internet and building an online business.  I have never met anyone who has taken in any of their courses and become very successful. On the contrary, there are many people who have nothing to show for their tike and efforts by attending these seminars.  Based on my years of experience having attended numerous seminars, I can offer the following advice.

To all potential business owners; hire a business coach in your vicinity for some very useful education.

To all real estate investment minded people; get to know at least 3 and possibly more people who own investment properties and take them out to lunch.  This is cheaper and far more valuable to you while saving a lot of wasted time and endless sales pitches

For the stock, options investors and all other paper asset investors.  Attend other seminars, buy a book and ask to take out a stock broker or active investor for lunch.  This too will save you time and money.

For some more thorough critiques of Rich Dad Poor Dad, please visit these sites:

John T Reed:

CBC Marketplace:

Wall Street Journal:

Complaints Board:

Rich Daddy nightmares: