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O/T Can someone tell me what this Rich Dad program is

J

JOCCO

Well-known Member
I have heard it sells real estate, others say a fraud. I got a paper on it last week? What is it????
 
It is some dude that wrote a motivational program in order to sell tickets and make a living talking about his program. He says he grew up with a rich dad and a poor dad, and then explains his rich dad's philosophy about what is an asset and what is a liability. Basically anything that doesn't generate a positive cash flow is a liability. It gets into the rental property game and so forth.
 
i have always belived if somthing is advertized in papers, t-v, radio, to get people to buy/sell somthing to make money, the only one making money is the original seller, getting your money to find out how they made it, and you can"t, because it already been done and no more space for you to fit in and try...like the old saying, if it"s to good to be true, then it"s not..
 
Google "Robert Kiyosaki". He's made millions. Not in real estate, mind you, but by selling books and motivational seminars.

I read a bit of his book "Rich Dad, Poor Dad", but I couldn't finish it. It's hard to believe anybody would actually believe the stories that he presents as fact. I found them to be condescending and fairly revolting. Read his books if you like, but don't plunk down your hard-earned cash on anything else he is selling.

Oh yeah, his company declared bankruptcy last year to avoid paying a 24 million dollar judgment.
Bankrupt Dad
 
Basically it shows a different way to think about money and financial wealth. The concepts are interesting but some of the ways he uses them are questionable in terms of legality and ethics, but then a lot of wealthy people seem to do questionable things so, hmmm....

He makes no bones about being a slick operator and the books were written in the late 90's before financial markets started nosing over. A lot of his techniques wouldn't work today due to changes in banking.
 
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