Rich Dad coaching experiences?

I'm looking into this coaching program and wondering if anyone has taken part. Please pm me. I'm keen to join but would love to hear if others found it valuable, whether its relative to Australia... And also to make sure the people asking for money from overseas isn't a scam!

Thanks heaps
 
I've taken a bit of a look at the Rich Dad books, and found a few interesting ideas wrapped up in a morass of overly-sentimental morality tales. :)

Out of curiosity, I Googled Rich Dad Coaching, and found the following:
  • It's expensive.
  • It's run by a third party firm, not Kiyosaki.
  • It's not got a great reputation.
Being of Scottish descent, I'm proverbially tight fisted, so the first point would put me off. If, however, I was looking at signing up for something like this then I'd be asking:
  • What's the coach's background? There's a big difference between being self employed (what Kiyosaki advocates) and a wage slave. If the coach has always been the latter then I'd be suspicious of their advice about the former.
  • Similarly, are they an investor?
  • What's the content of the programme? Is it a training course, or are they going to provide feedback and critique on your investing strategy?
  • How about access to one of their coaches, and even a free (short) session to get a feel? If someone wants me to drop $5K in a down economy, then they should work for it. :)
I'm cynical about a lot of these things because they seem to be structured as a way of separating a punter with their money.

My suggestion would be to look into what courses your local adult college or even university runs on business skills. I reckon a basic Book Keeping qualification could be a useful thing to understand accounts.

If you want to be more serious, I've just finished a contract where one of my colleagues was studying an MBA, with the view to founding his own company in a few years. That's probably an order of magnitude more expensive than Rich Dad Coaching charge, but he's getting a qualification that has a certain value in the marketplace, and gets to network with both his peers and established professionals.
 
Plus I point blank refuse to do business with any organisation that shows a pop-up as I attempt to close the browser window, asking me to reconsider walking away from such an opportunity.

Rich Dad Consulting does that...
 
Mr Kiyosaki has taught us many valuable lessons on how to make money over the years.
You can see over the years how his various attempts failed, until he worked out that if he lied and made up enough BS stories...people would think they are real!
They actually started believing him and buying books and paying for his BS.
The next step is to leverage it as many times as you can by bringing out 10 books a year (that you get others to write for you, just like the first one) with all the imaginable fantasy stories to make people feel good.
But the most important step is to mark these as non-fiction, as if they were actually true!
Darn those clever people.
Yes he is indeed a son of many fathers :rolleyes:
 
Mr Kiyosaki has taught us many valuable lessons on how to make money over the years.
You can see over the years how his various attempts failed, until he worked out that if he lied and made up enough BS stories...people would think they are real!
They actually started believing him and buying books and paying for his BS.
The next step is to leverage it as many times as you can by bringing out 10 books a year (that you get others to write for you, just like the first one) with all the imaginable fantasy stories to make people feel good.
But the most important step is to mark these as non-fiction, as if they were actually true!
Darn those clever people.
Yes he is indeed a son of many fathers :rolleyes:

Ah, I think the idea is the stories are meant to help educate. It's irelevant whether they're true or not. Kiyosaki always said his "rich dad" was a very private man & many people claim he doesn't exist. But there's a recent video of kiyosaki online where they give quite a lot of detail about the guy. His name is Frank, he died in 2009 owning several waterfront hotels in honolulu. He was aparently not a polite man & liked to swear at everyone.

As far as the education goes, in his first book he claimed "your house is not an asset" (as long as cash flow is less than expenses) & was widely derided, though recently people in the U.S. were forced to change their minds.

In the 90's he claimed that in 2010 a depression would begin lasting maybe 25 years, caused by the collapse of the $US fiat currency & baby boomers being forced to sell their 401k assets. Whether this eventuates or not I think we can give it to him.
 
Ah, I think the idea is the stories are meant to help educate.

Innit great how BS is ok if it makes you feel good!

So here's my story:
"I worked hard all my life spending every minute of my day learning to invest.
After 30 years of working continuously working to improve my methods and strategies I have managed to accumulate 146 properties worth over $100 million.
No I did not do all the work myself, along the way i met some very smart people who were kind enough to help n my ardous journey to become financially free.
Have you ever thought of what it would be like not to have to worry about money? To live without a care in the world on a waterfront home, with a few mercs and porshes parked out the front? A trophy wife and a few "swords" on the side?
Well I'm here to tell that your parents won't tell you how, and neither does going to school do you any good either.
You can be dumb like me, but rich as fux if you just follow my system.
Your friends will laugh when you tell them your an investor, but just follow my system based on the truths that my wealthy friends have taught me and you will be on your way to freedom.
You too can have thousands, even tens of thousands of dollars every month just rolling in your bank account, day after day, week after week, year after year. Imagine that! What will your friends say then?
So to get started on your way to become rich, be the envy of your friends, tell your boss to stick his job, get started today on the marvellous road to wealth and financial freedom where you never have to worry about money...ever again, get started today...no right now!
All the secrets are revealed in my book, how make millions, how to be on the BRW rich list, how to make your boss kiss your hind. Your friends will be amazed at how quickly your lifestyle changes after discovering the secrets that took me a lifetime to learn and many years to distill in my 13th book that has just been published.
Find out the advice i gave Trump when he was broke that changed his life forever.
Find out the exact advice I gave George Soros and many other billionaires that increased their wealth by leaps and bounds.
Even my publishers think it's too good to be true and have only reluctantly agreed to run a small print run, so they won't last long!
For your copy of the greatest investing secrets ever told just send the money to my ban account and you will be your way to owning hundreds of properties.
Go on, do it now! Start your journey to riches without delay!"
 
Ok I see, you're asserting that he's simply made up stuff in order to get an audience. Why didn't you just say that?

The trouble is that he actually goes own oil wells (the comapny name escapes me) & several thousand apartments (with Ken McElroy) & has a couple of listed companies. & he has just released another book with Donald Trump. Kiyosaki recognises Trump as one of his mentors. I'm guessing Trump is happy with what Kiyosaki says about him.

Personally I don't see him telling stories in the books that are aimed at selling his coaching, rather they're aimed at getting across investing principals, most of the books were written before he offered coaching.

He does sales language on his websites. If you've ever tried to start a website then you'll know that there are only so many ways that you can sell your product online, it's hard work.

Innit great how BS is ok if it makes you feel good!

So here's my story:
"I worked hard all my life spending every minute of my day learning to invest.
After 30 years of working continuously working to improve my methods and strategies I have managed to accumulate 146 properties worth over $100 million.
No I did not do all the work myself, along the way i met some very smart people who were kind enough to help n my ardous journey to become financially free.
Have you ever thought of what it would be like not to have to worry about money? To live without a care in the world on a waterfront home, with a few mercs and porshes parked out the front? A trophy wife and a few "swords" on the side?
Well I'm here to tell that your parents won't tell you how, and neither does going to school do you any good either.
You can be dumb like me, but rich as fux if you just follow my system.
Your friends will laugh when you tell them your an investor, but just follow my system based on the truths that my wealthy friends have taught me and you will be on your way to freedom.
You too can have thousands, even tens of thousands of dollars every month just rolling in your bank account, day after day, week after week, year after year. Imagine that! What will your friends say then?
So to get started on your way to become rich, be the envy of your friends, tell your boss to stick his job, get started today on the marvellous road to wealth and financial freedom where you never have to worry about money...ever again, get started today...no right now!
All the secrets are revealed in my book, how make millions, how to be on the BRW rich list, how to make your boss kiss your hind. Your friends will be amazed at how quickly your lifestyle changes after discovering the secrets that took me a lifetime to learn and many years to distill in my 13th book that has just been published.
Find out the advice i gave Trump when he was broke that changed his life forever.
Find out the exact advice I gave George Soros and many other billionaires that increased their wealth by leaps and bounds.
Even my publishers think it's too good to be true and have only reluctantly agreed to run a small print run, so they won't last long!
For your copy of the greatest investing secrets ever told just send the money to my ban account and you will be your way to owning hundreds of properties.
Go on, do it now! Start your journey to riches without delay!"
 
Ok I see, you're asserting that he's simply made up stuff in order to get an audience. Why didn't you just say that?

The trouble is that he actually goes own oil wells (the comapny name escapes me) & several thousand apartments (with Ken McElroy) & has a couple of listed companies. & he has just released another book with Donald Trump. Kiyosaki recognises Trump as one of his mentors. I'm guessing Trump is happy with what Kiyosaki says about him.

Personally I don't see him telling stories in the books that are aimed at selling his coaching, rather they're aimed at getting across investing principals, most of the books were written before he offered coaching.

He made his money selling books, doing seminars etc not practicing what he preaches.
You wanna be rich by his methods, then do as he does, not what he says.
The books are just feel good fiction deceptively sold as fact ie non-fiction.
Once you've made enough through selling books, then you do seminars.
Then you bring out "home study courses".
Then you go big time and find a builder who will give you a nice hefty commission for evangelizing his brand new crappy apartment building.

There are a few locals who have done rather well for themselves in similar fashion. Books can be about RE, stock market, options etc and can even be as stupid as "all you need to is double your money 11 times" expanded into a few 150-200. People will love it!

So for my next seminar I will teach people how to be a Rich SOB!
Learn the secret methods of those rich SOBs (or FRCs as the band Screaming Jets refer to them) and make your fortune telling others what to do!
Including how to avoid this:
http://www.jenman.com.au/NewsArchives.php
Early bird special $49999!
:cool:
 
I read "Rich Dad Poor Dad" quite a few years ago, and the bit that I took away was simply this: "spend less than you earn and invest the rest".

That is what I have done, and it has worked very well. The bits about US tax trickery and high risk flipping (and the like) I ignored. I don't think it's a requirement to be bankrupt before you get wealthy. I though risk management was a big gap in his book.
 
He made his money selling books, doing seminars etc not practicing what he preaches.

Let's look at that. Your assertion is that he made his money writing books. He says he & his wife retired in 1994 after becoming financially independant by buying foreclosure investment real estate. He came out of retirement in 1997 to write "Rich Dad Poor Dad".

Anyway lets get back to you. You're saying he made up "your house is not an asset" out of thin air, & he never invested in cf+ housing (he says cf+ housing is an asset) . And even though he was widely derided for saying this, eleven years later housing got blown off the planet. So he didn't even know how right he was?

Also he wrote about investing in gold & silver in his early books as a hedge against the fed devaluing the currency. If he made this up & didn't invest then he's one sorry dude, wasn't gold $300 in 2000?

In 2002 AFTER the nasdaq crash he wrote this book "Rich Dad's Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming." So he made it up?

Hey PB you probably knew about these ideas long ago right? Did you invest in them your self, or did you just write about them on Somersoft? Do you really think someone would know this stuff & not invest in it?
 
In 2002 AFTER the nasdaq crash he wrote this book "Rich Dad's Prophecy: Why the Biggest Stock Market Crash in History Is Still Coming." So he made it up?

Hey PB you probably knew about these ideas long ago right? Did you invest in them your self, or did you just write about them on Somersoft? Do you really think someone would know this stuff & not invest in it?

Actually, yep!
I think my calls, made all over the internet, where much more detailed and precise.
The Aud/usd, eur/usd, and the latest 10c fall, the gold fall all against what Schiff and a few other clowns disguised as experts, although my real pride is taking the opposite side of George Soros in the markets.
The biggest stock market crash in history was either 1929. We are currently nowhere near that yet.
Sure sooner or later there may be a bigger one... it's called throwing mud.
Oh and i also went round saying the Black Scholes Model for option pricing was bunkem, proven by the LTCM bankruptcy which employed Myron Scholes.
BS even gets nobel prizes.

I did say "do as he does", so does he recommend marrying a suga mamma in his books or coaching? Cause I think that is a great idea! Now there's a great secret to becoming rich, his secret has been revealed.

I did buy and read his book and thought is was a big load of crappola and wondered why other could not see the same. Only few years later I stumbled on this http://www.johntreed.com/Kiyosaki.html
He was a dunce at school but eventually became good at BS.
Maybe he can show you proof of his wonderful achievements.

Many people on this forum can teach much more about RE than he ever could imo.

Gold was one of the first lessons that Rich Dad taught him as at the time, Bretton Woods was still around.
Is the lesson that made him broke and homeless in 1985?
Conversion to gold (B & W system) was abandoned in 1971.
 
Actually, yep!
I think my calls, made all over the internet, where much more detailed and precise.

That may be true PB, but this is not about whos calls were better. It's about the likelyhood that RK would've made-up all this stuff to sell books ( with no intention to invest ) and then been right about it. If that's true then I'd say he's a loser.
 
Is the lesson that made him broke and homeless in 1985?

The story goes that he went broke when he let his business success (velcro wallets) go to his head, he bought cars & houses on credit.

Gold was a relatively small investment at the time for several reasons. One, it relies on the government becoming hooked on printing money which would take decades. Also there is no cashflow, which is why his biggest investments in gold have been to partner in gold mines & take them public. The strategy being to cash out from earnings & keep the investment. Gold alone (& most capital gains investments) cannot do that.
 
I agree, the first book may have had some good principals however the rest are a waste of money, I skim read the last one and could have summarised it in 1 paragraph.
 
The first book can be summarised as "invest your money, don't waste it"

It's actually amazing how so many people make bucket loads just by stating the bleeding obvious. Isn't Henry Kaye our Australian version gone bust?

I need to think about this life coach market and in the mean time come up with a few golden sayings that are catchy like:

"He who treats thy money as thee object will thus become thy object thyself"
 
That may be true PB, but this is not about whos calls were better. It's about the likelyhood that RK would've made-up all this stuff to sell books ( with no intention to invest ) and then been right about it. If that's true then I'd say he's a loser.

Hey I gave him the benefit of my doubt, I read his book and it did not make sense. Too many contradictions, not much substance, no details.
And after a little research I find that like most "gurus" he wealth came after he became a guru and not before.
And like those others there is no detailed method or strategy in any of his books. And much is just bragging about (his wife's) lifestyle and doodads (just like an amway seminar).
Jan Somers, Peter Spanns first 2 books are much better, much more detailed, much more relevant to our market. Even though they too made most of their wealth/income after not before. Phil Jones book "Rich Rewards in 3 yrs" is also worth the $$.
As for a "Rich dad", I found a book called "The wealthy Barber" is much more fun and useful to read, although that could be because I personally know some barbers that did very well for themselves.


It's actually amazing how so many people make bucket loads just by stating the bleeding obvious. Isn't Henry Kaye our Australian version gone bust?
Glad it aint just me. And yep Henry is just one of many caught cooking the books.
 
Hey I gave him the benefit of my doubt, I read his book and it did not make sense. Too many contradictions, not much substance, no details.
And after a little research I find that like most "gurus" he wealth came after he became a guru and not before.
And like those others there is no detailed method or strategy in any of his books. And much is just bragging about (his wife's) lifestyle and doodads (just like an amway seminar).
Jan Somers, Peter Spanns first 2 books are much better, much more detailed, much more relevant to our market. Even though they too made most of their wealth/income after not before. Phil Jones book "Rich Rewards in 3 yrs" is also worth the $$.

Fair enough, I understand your inspiration is elsewhere. I've read Jan Somers & Peter Spann & many others & I'm sure I've got something from all of them.
 
Read his books, don't pay loads for the coaching. Thats what the books are for.

In my experience: R.K's books are great! They taught me everything I need to know about money and how it actually works. The only thing it did not teach me is how to make more of it. It gave me the principals, in great detail, but not 'how-to' That comes in different books. And in my opinion: you require the knowledge of 'how' it works before you try to get it working. Otherwise you really don't understand what it is you are attempting to achieve, or if you think you do, you're probably losing somewhere.
 
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My opinion of Rich Dad, Poor Dad is that it's not that well written, and the meat of the book is obfuscated by a huge amount of overly-sentimental padding. I could probably boil it down to around 10,000 words and not lose any content.

The basic advice is live below your means, save and invest, and work for yourself. To an extent that's sound, but I've got a couple of concerns.

The first is that being self-employed is hugely risky. 90% of all new ventures fail within five years. Kiyosaki's counter-argument is that a financially literate individual can massively improve the odds, but my first job was with a well-funded start-up founded by some impressively big brains, and it's still just about going twelve years on. I doubt the investors ever saw a return.

The second is that he talks about saving enough for a passive income. In a world of low yields, that requires a huge amount of capital. The $2,000 per month he mentions would need around $500,000 to generate.

I've not made it through the whole book yet. I don't think that reading it is a waste of time, but I don't believe that it's the source of all knowledge that some people claim it is.
 
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