Wednesday, September 29, 2010

Rich Dad Scam



I recently watched a video from CBC marketplace in which Robert Kiyosaki author of Rich Dad Poor Dad was exposed as a fraudster. I would not immediately discredit all his work. I do think he writes entertaining, easy to understand, insiteful personal finance books. However, Robert may have gotten too greedy with his latest attempt at increasing his earnings.

In his books he often talks about fundamental concepts on how money works and how important cashflow is rather than looking for large jackpots (or what he calls capital gains). Robert Kiyosaki has many investments that brings him cashflow such as: rental property, stocks, board games, royalties from books, and licensing of his Rich Dad brand. Licensing of his Rich Dad brand is where Robert has gotten into trouble. Robert Kiyosaki has relentlessly marketed his Rich Dad brand through his books and educational board games. He now uses his brand to sell educational seminars. Robert does not actually teach any of these seminars but licenses out his Rich Dad brand to slick huckster salesman to sell expensive seminars that provide very little value to their students.

Check out this link from CBC Marketplace which has a video that exposes Robert Kiyosaki's grave mistake. It seems that Robert's greed may have irreversibly devastated his Rich Dad brand which he worked so hard to build. I think that his books still have merit and are still worth reading. However, some of Robert's choices with his Rich Dad brand were not well thought out, unethical, and may cost him his life's work.

Road to Rich Dad: Who's Getting Rich Off Rich Dad?

http://www.cbc.ca/marketplace/2010/road_to_rich_dad/main.html


If you enjoyed this article be sure to check out:

Top 3 Signs of a Scam

http://reynold-savemoney.blogspot.com/2010/07/top-3-signs-of-scam.html

The 4 Hour Work Week Scam

http://reynold-savemoney.blogspot.com/2010/07/4-hour-workweek-is-it-scam.html

2 comments:

  1. Yeah, I saw his ads on the TTC. They looked a bit sketchy since he didn't teach the classes, but he's obviously a smart guy, just maybe, too smart.

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