If you own a business or want to start one, you’ve probably heard of Robert Kiyosaki. His book Rich Dad Poor Dad made him famous.
It’s a book that has helped millions of people around the world change how they think about money and how to get rich.
This is why when people hear about a free seminar with the “Rich Dad Poor Dad” brand, they get excited and want to sign up immediately.
But does it really live up to the hype?
Will you go home richer, or will you be thousands of dollars poorer?
I’m going to review Rich Dad Poor Dad to decide if it really is the best investing course out there.
I’ll talk about whether investing is the right online business for you.
Alright, so Rich Dad Seminar doesn’t exactly fit into a nice category.
At the end of the day, Personal Development Seminars is a… unique way to think about making money.
It’s certainly possible to make money with off-the-wall businesses like this, but unless you’re interested in taking years out of your life to experiment with an unproven business model, I would look elsewhere.
My #1 personal recommendation if we’re talking about starting a fully-online business has got to be the Lead Generation & Ad Agency business models.
There are a handful of programs that teach you the ropes, but my #1 choice that combines both of those business models into one is the Digital Rental Method program
But, if you’re hard pressed to jump head-first into an off-the-wall business model, let’s continue to my full breakdown of Rich Dad Seminar
Is Rich Dad Poor Dad A Real Story?
One of the most frequent criticisms about the Rich Dad series is that “Rich Dad” can’t be proven.
In his book, Mr. Kiyosaki says that Rich Dad owns some of the best real estate on Waikiki Beach and is one of the richest people on the island of Hawaii.
But researchers for several magazines have looked through Hawaii’s real estate files and haven’t found anyone like this.
In reality, Mr. Kiyosaki has told many stories about the present whereabouts of Rich Dad. At least once, he reported that Rich Dad had passed on.
Another time, he reported that Rich Dad had developed a disability. In one more book, he says the family of Rich Dad asked not to be recognized.
And in one more instance, he reportedly mentioned that Rich Dad isn’t one true individual, but a composite character based on some of his advisors, such as his best friend’s dad (the original “Rich Dad”), Dr. Buckminster Fuller, along with several others.
In an interview with SmartMoney magazine, released in February 2003, Robert Kiyosaki provided an answer that appears amazingly sincere:
“Is Harry Potter real? Why don’t you let Rich Dad be a myth, like Harry Potter?”
That’s exactly what I want to know!
Is he a fictional character or not?
Mr. Kiyosaki mentioned many times in Rich Dad Poor Dad that “this is a true story about my two dads.”
On top of that, the book was published as non-fiction.
So to discover the character of Rich Dad is simply a character, not a true person, certainly throws his reliability in doubt.
Are Rich Dad Courses Worth It?
There isn’t much benefit to attending the three-day Rich Dad Poor Dad conference if you have a spare $90,000. You could also say this about the mentorship program if you want to be a real estate investor.
The three-day program is a good way to get some investment knowledge, but the free one-hour workshop is a great place to start and gives you a lot of words of wisdom.
What Does Rich Dad Poor Dad Teach You?
There were four important lessons from Rich Dad, Poor Dad which can change your financial life:
1. A Lot Of People Work For Money—Wealthy People Have Money Work For Them
This particular lesson is now such a cliche that lots consider it to become a myth. But it’s completely true.
2. It’s Not How Much Cash You Are Making That Matters—It Is How Much Cash You Keep
Among the characteristics that separate the wealthy—particularly the self-made rich—from others is the focus on saving money.
3. Wealthy People Acquire Assets—Not Liabilities They Believe Are Assets
A common misconception about rich people is that they all got their money from their parents.
But that way of thinking is self-defeating. If you look at any self-made millionaire, there’s a good chance that they spent most of their life getting assets that generate profit.
4. Working All Your Life For Someone Else Can Result In Financial Struggle
This is not meant to put down anyone who spends their whole life working for someone else. Rather, it’s meant to show that doing this puts almost everyone at risk of having financial difficulties.
The biggest problem with being a worker is that you always have to trade your time for money.
And since you only have a certain time to give to your employer, it limits how much you can earn.
Is Kiyosaki A Billionaire?
Robert Kiyosaki has piled himself a good chunk of money, but he’s not a billionaire—yet. He has a net worth estimated at $100M, to be exact.
Is Rich Dad Poor Dad Worth Buying?
While I agreed with many of his concepts about money, I was a bit disappointed in the book since I felt misled by the subtitle: “What the rich teach their kids about money — that the poor and middle class do not!”
Although much of the book talks about the financial lessons Kiyosaki learned from his two dads, I think this particular book’s market shouldn’t be parents but people thinking about investing in real estate.
Learning how you can invest in real estate and lose less of your earnings to taxes isn’t what modern children have to understand about money.
Is Rich Dad Poor Dad Bad Advice?
Rich Dad, Poor Dad is among the dumbest financial advice books I’ve previously read. It has several factual errors and countless doubtful accounts of events that supposedly occurred.
Kiyosaki is a motivational speaker and a salesman with no monetary knowledge and will not disclose his supposed real estate or other investment results.
Is Rich Dad Poor Dad True?
If you’ve read any of Robert Kiyosaki’s books, the Rich Dad Free Seminar may seem like a great deal; but remember that this isn’t the same.
Most of the free seminar is a long and very creative sales pitch. I knew there would be some selling, but this has taken it to a new level, and they’re experts at making people invest money without thinking.
Therefore, if you go, just understand that there’ll be plenty of selling to happen, and they could be really convincing.
That being said, if you know you can’t afford to purchase a paid seminar, it’s possibly far better to leave your wallet and credit card at home.
I’d suggest that you stick with Kiyosaki’s books for ideas. If you’re keen on getting financial freedom, then find another way to build a business than visiting the Rich Dad free workshops.
Is Rich Dad Poor Dad Event Legit?
It’s legit by nature, but beware because the seminars have a lot of selling, especially from Kiyosaki’s business partners.
But, when it comes to building a business, you have plenty of options.
And even if you’re dead set on becoming an investor, you’ve got way better options than Rich Dad Poor Dad.
Can You Really Make Money With Rich Dad Poor Dad?
You can get inspired and make money with this “Rich Dad” training, but it won’t be an easy feat. Classes alone can’t get you to financial freedom. Finance skills come from experience and actually getting your hands dirty.
You can certainly make money with investing, but if you’re gonna put in the amount of grueling work to become an investor (which, trust me, isn’t easy), you might as well bring in some REAL money.
The program that helped skyrocket my online business to $40,000+ per month teaches some of the same investing skills, but shows you how to monetize them in a much, MUCH more profitable way.
Alternatives To Rich Dad Seminar?
Yes, there are plenty of other business models to choose from if you want to pursue this making money online. Here are just a few:
Is Rich Dad Poor Dad Seminar A Scam?
Time for the $1,000,000 question: is the Rich Dad Seminar actually a scam?
I wouldn’t technically call it a scam, though others might.
It’s technically possible to make money with this program, so in that sense, it isn’t a scam.
No one is riding off into the sunset with your money, leaving you empty-handed… technically speaking.
But the second, more important question is: is Rich Dad Seminar actually worth the investment?
My honest answer is that for most people out there, probably not.
There are countless other business models that are proven & easily scalable, so why risk it for… not an incredibly huge payoff?
I’d rather have a program with thousands of successful students & plenty of room for others to join.
If you’ve followed my blog for long, you know I recommend a few different programs depending on your skills & goals.
My current top choice is using the Digital Rental Method, because you have a proven, systematic path to 6-figures, and you can do it from anywhere you want.
I’ve got friends in there posting deals from the middle of the woods in a camper-van with their pet pig… which is kind of cool.
What Is My Top Recommendation For Making Money Online In 2022?
Alright, time for me to get real with my lovely readers for a moment:
I’ve personally tried all of the major online business models:
- I’ve sold fidget spinners through Amazon FBA
- I’ve dropshipped a toilet bowl putting green on Shopify
- I’ve sold women’s health supplements via Clickbank affiliate marketing
And I made money with all of them, so trust me when I say: there is no “perfect” business model.
THAT BEING SAID: I would at least recommend you implement something that is tried and true, because I’ve seen TOO MANY people (including friends and family) get burned by stuff like Rich Dad Seminar.
They come out of left field with some random idea, make it seem attractive, and then make themselves a quick buck by luring in unsuspecting people.
This is a big reason why I only recommend proven, tried, and true business models, like Lead Generation & Ad Agencies.
There are a bunch of programs out there that teach you those skills, but my top choice is the Digital Rental Method program.
Read Our In Depth Breakdown Of The Top 5 Personal DevelopmentGen Courses For 2024
Why? It has proven leaders with their own 7-figure businesses implementing exactly what they teach you.
I’ve also got over a dozen personal friends in there, so I feel comfortable telling you it works.
Whether you’re a complete newbie or you’ve been around the block before but have never had that “big win” to propel you forward, their program works.
1)Time: If you’ve got a spare hour or two each day, you can do this. If you want to drop everything and go all-in, you can do this. More time obviously means faster results, but even putting in a few hours per day is enough to see real success.
And because of that flexibility, you don’t need to trade your time for money. Once the income starts, it’s recurring (for the most part).
That means you can take a month off, travel the country, pursue a passion project, chill on the beach, or charter a boat across the world.
But you can only do that once you’ve created an income stream that doesn’t require YOU to be there all day, every day.
2)Big Margins: With most businesses, you’re often going to have really slim margins. That means you need to hit a serious scale to make serious money.
using the Digital Rental Method, your profit margin is nearly 100%. Watch here to learn how.
Just a reminder: these Digital Rental Properties are worth (at a minimum) $500/mo in semi-passive income. And each time you create another one, your income increases, and the effort put into creating the next property decreases.
Best-case scenario, you have properties bringing in over $3,000+/mo on “auto-pilot.”
3)It’s Effectively Copy-Paste: Here’s my favorite part: once you have your first Digital Rental Property up, you can literally copy-paste another version of it and find another willing “renter” in a few days. DOUBLING your income doesn’t get much easier than that…
If you wanted to double your income with Rich Dad Seminar, you would need to attend the personality development seminar. And I can guarantee you, that’s a lot harder than a few clicks & a phone call.
4)You’re Helping REAL People: My biggest gripe with the Rich Dad Seminar is that you’re basically only helping yourself.
But With the Digital Rental Method, you’re helping solve REAL problems that people are ASKING for help with:
Small local businesses around the world need one thing: customers. Without them, their business would fall apart. If you can provide those customers, they’re going to be really happy – and they’re going to pay you for it.
You’re helping a struggling mother or father put food on the table for their families, put their kids through college, or simply live life a little bit more comfortably.
Having this type of impact on the world is what will help you sleep soundly at night.
So, the rest is up to you. You could keep looking at other off-the-wall business models like Personal Development programs and maybe hit it big one day.
You could keep researching and researching for the next few months (or few years), never making a concrete decision.
OR, you can look deep inside, think about those dreams, hopes, & desires, and make the decision to ACTUALLY make it happen, just like it has for thousands of other students before you.
Making a fortune while actually helping real people that need it.
If this sounds like you, click here to see how it all works.