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Richard Kiyosaki is a liar and a charlatan!

Posted on | February 2, 2009 |

I saw an ad recently for a Robert Kiyosaki’s (Rich Dad Education) Stock Success System seminar coming to my area. This was an Internet ad, and it was literally on EVERY page I went to. So, I clicked on it out of curiosity.

The seminar is basically an ad for his investment system, and is based on his book: Rich Dad Prophecy. In the Internet ad, he says that he foretold of the market collapse in Rich Dad Prophecy, but this is not true.

In that book, the market crash was caused by baby boomers retiring en mass and suddenly pulling everything they have out of the market. This is not what happened at all! The banks stopped lending and suffered HUGE losses as a result of the subprime mortgage mess, and everybody panicked.

The end result may be similar, but the underlying cause is entirely different. So, whatever solution he proposes to deal with boomers pulling everything out of the market probably doesn’t apply 100% to the current situation.

Then I checked out the fine print, just for laughs:

“* Disclaimer: Robert Kiyosaki does not participate in this event. Results from programs are based on individual effort and other factors, and are exceptional, or atypical and are not to be expected by the average person using these programs or methods. Various advanced trainings are typically needed, each at a cost of approximately $4,990, to achieve these results. Discount packages offered for courses purchased as a package.

Stocks and Options trading have large potential rewards but also involve large potential risks. One must be aware of the risks and be willing to accept them in order to invest in the stock and options markets.  Additional products or services will be offered for sale.”

Sounds like a risky scam to me. It’s a shame because I think Robert Kiyosaki’s Rich Dad, Poor Dad and The Cashflow Quadrant books both had some merit. Now it just seems that he’s more concerned with building his media and lecture empire, marketing get rich schemes to the masses.

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Comments

3 Responses to “Richard Kiyosaki is a liar and a charlatan!”

  1. don't assume
    September 3rd, 2009 @ 4:50 pm

    hey whiner, did you actually GO to the workshop?

    thought not!

    i did, and i bought the 3-day training course that they’re selling at the workshop, too - because the information at the workshop leads me to believe that the training is worthwhile

  2. Joe
    September 3rd, 2009 @ 9:22 pm

    Yeah, let me know how that works out for you…

  3. bingo
    September 30th, 2009 @ 3:29 pm

    Yes I had attended the workshop and signed up for the program only to find out that it would require one more advance training to acquire teh knowledge. His old books but not his seminars. So keep away

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