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OFF-TOPIC Rich Dad's latest scam?

Ernman

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I've been seeing adds for "Rich Dad's Boring Trading Method" in my news feed. Out of curiosity I clicked on one and was taken to an "advertorial" (what the hell?). In it Robert Kiyosaki claims that he wants to help you get rich investing - using his boring method. All you need to do is attend his Weekly Cash Flow Summit. I'm so disappointed in Mr. Kiyosaki. RDPD was the first entrepreneurial book I ever read. It opened my eyes to the possibility of a different life. After a few years of reading his books, playing his game (literally) and even attending one of his "free" seminars, I realized what MJ would later confirm. Mr. Kiyosaki was getting rich selling us how to get rich.

So while I will always credit Mr. Kiyosaki for opening my eyes to a different life, I can only shake my head in disappointment at his methods. He is filling a need - the need that so many feel in wanting to be rich. He is filling that need with ideas and methods of dubious possibility. And it would appear he is getting rich in the process.
 

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broswoodwork

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I've been seeing adds for "Rich Dad's Boring Trading Method" in my news feed. Out of curiosity I clicked on one and was taken to an "advertorial" (what the hell?). In it Robert Kiyosaki claims that he wants to help you get rich investing - using his boring method. All you need to do is attend his Weekly Cash Flow Summit. I'm so disappointed in Mr. Kiyosaki. RDPD was the first entrepreneurial book I ever read. It opened my eyes to the possibility of a different life. After a few years of reading his books, playing his game (literally) and even attending one of his "free" seminars, I realized what MJ would later confirm. Mr. Kiyosaki was getting rich selling us how to get rich.

So while I will always credit Mr. Kiyosaki for opening my eyes to a different life, I can only shake my head in disappointment at his methods. He is filling a need - the need that so many feel in wanting to be rich. He is filling that need with ideas and methods of dubious possibility. And it would appear he is getting rich in the process.
You bought the $200 board game too? :D

I was beginning to think I was his only sale. Ahhh... to be young again.
 

Strategery

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I read rich dad just a few years ago, after seeing it recommended several times. That book convinced me to abandon work for hire and go after passive income instead. And another google search convinced me not to invest any further in Kiyosaki's work.
I think his original book does have benefit. It's quite popular and is what leads many to think about passive income.
 
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Ernman

Ernman

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broswoodwork

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You're going to love this...At the height of my Kool-Aid drinking, I would have friends over to play the game! It was like poker night.
Haha. Yeah... I'm guilty of roping a few family members into it too.

I thought I was the shit, and so did they, because I owned a few houses at 23. Little did we all know, I wasn't awesome; the credit markets just forgot to take their psych meds. :rofl:

Don't even misses "the good times" to be honest, and I'm eternally grateful to MJ for building this place, along with his functional philosophy.

F*ck Rich Dad...
 

Kung Fu Steve

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I'll step in and defend the board game.

It's fantastic.

No game is ever going to mimic real life perfectly but if you have a better way to teach kids, teens, and adults about making, managing, and investing money -- I'd like to hear it!
 

Dan_Cardone

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I LOVE Robert K.

Don't get me wrong, I have only ever read his book once years ago and have no idea what any of his other products are, nor am I interested in buying them, but when a client complains to me that they cant raise their prices because "no one will pay that" I can point to his overpriced monopoly rip-off and make my point.

"Dude sells cardboard and plastic for a couple hundred bucks and you don't think you can raise the prices on your very valuable service by 5%?"
 
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Ernman

Ernman

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I'll step in and defend the board game.

It's fantastic.

No game is ever going to mimic real life perfectly but if you have a better way to teach kids, teens, and adults about making, managing, and investing money -- I'd like to hear it!
I don't mean to sound as if I'm talking out of both sides of my mouth, but I enjoyed the game as well and agree it serves a purpose. For instance, playing it a few times drives home that being a doctor isn't any better than being a plumber when it comes to being wealthy. I also like one of the key points to winning - if you make more in "passive" income than you spend - you're a winner. This one lesson alone is worth the price of the game. That reminds me - I have a used RDPD game that I'm willing to part with at the sacrifice price of $100.
 

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PizzaOnTheRoof

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His seminars aren’t actually taught by him.

He hired an outside “sales” company and pays salespeople commission to give the live seminars.

They even encourage you to call your creditor and raise your limit so you can afford the training.

There was a video on YT of some news channel exposing him but I forgot the name.
 
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Ernman

Ernman

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His seminars aren’t actually taught by him.
Exactly - I was so P1**#% when I attended his seminar and figured this out. And yes, they pushed increasing our credit limit and buying some informative CD's and …. Fortunately, the light bulb went off in my head before I got myself in too deep.
 

Ing

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also I read RDPD years ago and I enjoyed it.
It nice stories and some interesting kind of views!
It was one of a couple of books I read that time and as they all tell similar things, Inwas through quite fast.
Im recogniced the game and thought my part.
That this game is a phantastic way solving a need and getting rich I realised just after readingFastline Millionaire.
well, you can condemn K for the book, the content or the game, but he has my respect for his entrepreneurial performance.
 

JAJT

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"advertorial" (what the hell?)
It sounds like you've never heard of this before, so I'll chime in - advertorials are real things and have been around for a LOOOONG time. We're talking well before the internet.

They are nothing more or less than an advertisement disguised as an editorial. You can find them all the time in traditional print media - magazines, newspapers, etc...

Last I checked they typically work really, really well. Most people don't notice that they are ads and they are typically written to sound like a neutral third party is recommending the thing being advertised. It doesn't help that in many cases the ad can be really really well hidden - like a full page article on a topic with otherwise great information but with only one company/product mentioned/quoted in the entire article. Doesn't look/sound like an ad but you can be sure that anyone interested in the topic is going to take note of the amazing sounding company that the article talked about.

I believe by law (at least in Canada, don't know about the USA) any advertorials are required to plainly state that they are advertorials because of how deceptive they are often written.
 

Matthew Hinton

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You're going to love this...At the height of my Kool-Aid drinking, I would have friends over to play the game! It was like poker night.

If I would have had some spare change at the time I would have bought myself one. Maybe even all my friends and relatives lol. Thank god I didn’t do that. I didn’t know he was so full of shit until I was planning on going to one of his events. A quick google search and my dreams were were shattered.
 
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Ernman

Ernman

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It sounds like you've never heard of this before, so I'll chime in - advertorials are real things and have been around for a LOOOONG time. We're talking well before the internet.
Thanks - yes, I know about advertorials. My comment was intended to convey how shady and deceptive I find this practice. Anyone that resorts to this type of advertising SUCKS and will not get my biz.
 

Kung Fu Steve

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If I would have had some spare change at the time I would have bought myself one. Maybe even all my friends and relatives lol. Thank god I didn’t do that. I didn’t know he was so full of shit until I was planning on going to one of his events. A quick google search and my dreams were were shattered.
And here exactly is the problem with anyone saying "it has no value" -- you easily convince the newbies -- that have no clue -- that the guy is the devil.

The guy himself is a dick. I've met him in person 3 times. Each time, not exactly the nicest person. However, his wife was an angel.

The books themselves were incredible. You could argue they were written by Sharon instead of Robert (which is more than fair) -- but realistically the lessons came from DC Cordova (who nobody knows) who learned directly from R. Buckminster Fuller... a certified genius.

The cashflow quadrant and other ideas came straight from him.

In fact, Robert was a Money & You instructor long before he wrote the books... he got kicked out of that group, not because he wrote the books teaching the lessons from that program, but because he badmouthed his father.

I understand it's easy to sit online and come to conjecture about what you think about these people you've never met but before you get in a huge huff -- I'd suggest you meet them and make your own judgment.
 

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So, the Cashflow game is worthwhile, even if he is full of s***? Is that what I'm hearing?

Also, how hard is it for kids to play? I have a very precocious 10 year old who thinks she is 22 and wants to start her own business. She's at a 10th grade reading level. Could she handle the game?
 

Matthew Hinton

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And here exactly is the problem with anyone saying "it has no value" -- you easily convince the newbies -- that have no clue -- that the guy is the devil.

The guy himself is a dick. I've met him in person 3 times. Each time, not exactly the nicest person. However, his wife was an angel.

The books themselves were incredible. You could argue they were written by Sharon instead of Robert (which is more than fair) -- but realistically the lessons came from DC Cordova (who nobody knows) who learned directly from R. Buckminster Fuller... a certified genius.

The cashflow quadrant and other ideas came straight from him.

In fact, Robert was a Money & You instructor long before he wrote the books... he got kicked out of that group, not because he wrote the books teaching the lessons from that program, but because he badmouthed his father.

I understand it's easy to sit online and come to conjecture about what you think about these people you've never met but before you get in a huge huff -- I'd suggest you meet them and make your own judgment.
I’d hate to say he has no value. I definitely learned some things from his books. It’s just hard to trust what he has to say after you realize everything is an up sell. It’s comparable to Tony Robins and his investment advice.

Newbies are easily convinced. I think Robert knows that. I think that he makes a lot of money off that fact.
 

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KAA

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I've been seeing adds for "Rich Dad's Boring Trading Method" in my news feed. Out of curiosity I clicked on one and was taken to an "advertorial" (what the hell?). In it Robert Kiyosaki claims that he wants to help you get rich investing - using his boring method. All you need to do is attend his Weekly Cash Flow Summit. I'm so disappointed in Mr. Kiyosaki. RDPD was the first entrepreneurial book I ever read. It opened my eyes to the possibility of a different life. After a few years of reading his books, playing his game (literally) and even attending one of his "free" seminars, I realized what MJ would later confirm. Mr. Kiyosaki was getting rich selling us how to get rich.

So while I will always credit Mr. Kiyosaki for opening my eyes to a different life, I can only shake my head in disappointment at his methods. He is filling a need - the need that so many feel in wanting to be rich. He is filling that need with ideas and methods of dubious possibility. And it would appear he is getting rich in the process.
I have read many of Kiyosaki's books and they were very valuable in opening my eyes to entrepreneurship and investing. The most important thing I learned was his distinction between owning a business and owning a job! I also played his board game and found it educational and entertaining. It is sad though, that he seems to have gone total infomercial cheesy sales guy. He has a valuable message but he's damaged his brand with some of his recent endeavors.
 
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Ernman

Ernman

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And here exactly is the problem with anyone saying "it has no value" -- you easily convince the newbies -- that have no clue -- that the guy is the devil.

The guy himself is a dick. I've met him in person 3 times. Each time, not exactly the nicest person. However, his wife was an angel.

The books themselves were incredible. You could argue they were written by Sharon instead of Robert (which is more than fair) -- but realistically the lessons came from DC Cordova (who nobody knows) who learned directly from R. Buckminster Fuller... a certified genius.

The cashflow quadrant and other ideas came straight from him.

In fact, Robert was a Money & You instructor long before he wrote the books... he got kicked out of that group, not because he wrote the books teaching the lessons from that program, but because he badmouthed his father.

I understand it's easy to sit online and come to conjecture about what you think about these people you've never met but before you get in a huge huff -- I'd suggest you meet them and make your own judgment.
Kung Fu Steve - I agree with you. I wish I had had the opportunity to meet RK. Hell, I even went to one of his seminars believing I would. I remain conflicted because it was RK that opened my eyes to a different possibility and I'll always be thankful for that. But his methods have absolutely soured me.

More importantly - you've brought up an issue deeper than this thread. Your comments - "And here exactly is the problem with anyone saying "it has no value" -- you easily convince the newbies" and "I understand it's easy to sit online and come to conjecture about what you think about these people you've never met but before you get in a huge huff" - are so important. This is true in so many of our challenges these days.
 
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Ernman

Ernman

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Also, how hard is it for kids to play? I have a very precocious 10 year old who thinks she is 22 and wants to start her own business. She's at a 10th grade reading level. Could she handle the game?
She might - I have no idea what those games cost these days, so you might want to track down a used one.
 

Black_Dragon43

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It sounds like you've never heard of this before, so I'll chime in - advertorials are real things and have been around for a LOOOONG time. We're talking well before the internet.

They are nothing more or less than an advertisement disguised as an editorial. You can find them all the time in traditional print media - magazines, newspapers, etc...

Last I checked they typically work really, really well. Most people don't notice that they are ads and they are typically written to sound like a neutral third party is recommending the thing being advertised. It doesn't help that in many cases the ad can be really really well hidden - like a full page article on a topic with otherwise great information but with only one company/product mentioned/quoted in the entire article. Doesn't look/sound like an ad but you can be sure that anyone interested in the topic is going to take note of the amazing sounding company that the article talked about.

I believe by law (at least in Canada, don't know about the USA) any advertorials are required to plainly state that they are advertorials because of how deceptive they are often written.
Fantastic post! I would add that advertorials typically sell for a lot of money, so it's a good thing to learn how to write them if you're a copywriter - can easily be 4 figures or more.
 
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Ernman

Ernman

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Fantastic post! I would add that advertorials typically sell for a lot of money, so it's a good thing to learn how to write them if you're a copywriter - can easily be 4 figures or more.
And you can join the ranks of people making money off of deceptive practices. When did it become okay to make money taking advantage of others? Either write an advertisement or write an editorial. But why lower yourself to such deception?
 

Black_Dragon43

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And you can join the ranks of people making money off of deceptive practices. When did it become okay to make money taking advantage of others? Either write an advertisement or write an editorial. But why lower yourself to such deception?
Whether or not it's deceptive will depend on how you write it. I haven't said that I encourage you to deceive people.
 

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I'm reading here that his Cashflow game costs $200 and some members offering their used game of $100 ??? This is simply not true and misinformation. Go to Amazon and search for CASHFLOW Board Game, it costs $79.99 as a brand new version.

That being said, I met Robert Kiyosaki twice, the first time in 2008 in Sydney. I also find value in the CASHFLOW game. There are Cashflow clubs all around the world where you can play the game for free or for a small fee.
 

Shanice

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I'll step in and defend the board game.

It's fantastic.

No game is ever going to mimic real life perfectly but if you have a better way to teach kids, teens, and adults about making, managing, and investing money -- I'd like to hear it!
I actually love and play the board game, however, I got it off amazon for $40 total (I wasn't paying $200) but it is worth it. One of the things that stood out to me from the game is that he shows even the houses are slow to get out of the rat race. There are more opportunities to use the small deals, buy a ton of stock at $1 or $5 (usually the equivalent that you would use on a house downpayment), sell them at $40 or $50 then you can get into the big deals and the big deals that have the biggest return on investment are the online businesses. For $25k, the business generates $1700 in revenue while you have to do a $50-75k downpayment on a -plex/ apartment, etc to get that same income in the big deal piles. So in my mind, he did promote/ show that online businesses are the way to go as well.
 

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