Anyone familiar with Rich dad Poor Dad?

Has anyone ever learned anything valuable from this program? Is it as good as it is made out to be? I read some nasty things about this program on

Yes, the books are great.

The seminars are NOT worth it. The content is good, but the same content is available in the books for nearly nothing. So why waste money on seminars?? Its just dumb, unless you have money to burn.

Buy these 3 books in the series - Rich Dad Poor Dad (the original), Cashflow Quadrant and Rich Dad’s Guide To Investing.

Read them once, twice and three times or more. Memorize them.

You will spend less than $100.

Also, the Cashflow series board games are very good too.

I studied the above, and I am getting rich thanks to Rich Dad (and many other resources too).

Yes, it does work, but go the book route - NOT the seminar route.

Good luck!

Thanks for giving me the heads up. Most of the complaints I read about RDPD had a lot to do with the seminars and the waste of money.

The theories presented in the book are a great way to develop an investor mindset.

There is no need for the seminars as they are mostly a redundant way to generate cash for the seminar holders.

I would also highly recommend the richest man in babylon (George Clason). If you practice what these books preach you will be highly successful.

Best of luck,


I was waiting in the airport getting ready to board a plane to Paris and decided to get RDPD to read on the way. That was 5 or 6 years ago before the craze hit. I thought it was a good way to get your mind in the mode of how do you make money. You need to think like an investor instead of like a consumer. These books are good for that. For example your credit score is a tool. You don’t play with it, you don’t loan it out etc. So when your cousin wants you to co-sign for her a car you have to say no because your credit is not a toy it is a business tool.

I am open minded so I was able to read it and understand what it is trying to say but don’t read it and then try to take some accounting course because you will get an F. His definition of asset and liability is wrong. It works for thinking but it is not true. RDPD says an asset is anything that puts money in your pocket and a liability is anything that takes money out of your pocket. Actually an asset is an item that is convertible into cash and a liability is an obligation that can be settled using the transfer or use of assets. So when RDPD says a personal residence is a liability, it is not. It is an asset. The mortgage is a liability. The taxes and insurance upkeep etc are not even balance sheet items. They are income statement issues.

That being said RDPD does nothing to tell you what to do instead it tells you how to think.

on my classroom/courses/books real estate education , i probably spent at most $250-500 total when learning. looking back, i didnt even need to spend that. i have never been to a seminar and never really had the urge to go. RDPD was a good read and has good concepts to grasp.

It’s funny you should mention accounting because I went to school for accounting and I was taught a lot about accounts recievables, payables, balance sheets, and financial statements. I need something that gives me advice on what to do so I can do it. Not what to think. Thinking doesn’t get you paid, but action does.

Are the RD PD coaching program any better or as good as the books? At least I get to speak to a live person rather than flipping pages through a book.

The books are great and Robert K has some really insightful things to share in them. But as for the coaching and seminars, In my opinion they are way over priced. How-ever if you need your hand held while doing a deal or two I guess the coaching would help. The seminars are motivating to go to, but you don’t haft to pay for them. There are the free ones that travel around the country by the same company that basically are the same as the ones you pay for “motivational wise”.

Simply put, the best place your going to get the most learning from is out on the field making mistakes and money. :slight_smile: Best of luck to you, and Have fun!

Thanks. I checked out your website. I am stuck with a 9 to 5 J.O.B just like you and I want out of it ASAP.

I was once in your position, and I totally understand. Even if you have a great job - it sucks compared to being financially free and not worrying about ever having to get fired or layed off. There is almost nothing better than NOT having to depend on someone else to live, having tons of money coming in from your assets and having six figures worth of cash sitting in your bank account.

You might consider starting a part-time business, instead of getting into real estate at first. Many people watch late night infomercials and think real estate is a get rich quick scheme - its far from it. In 99% of the cases it is a get rich slowly & surely scheme. It takes time, and patience.

And usually the people who are the most successful in real estate, earn money from an earned income activity [usually a high paying job or business, even if that business pertains to real estate - or not], and then funnel their profits back into a passive income activity, and over time they find their income from their passive investments exceeds their earned income due to massive compounding of interest over time. An example of this is a real estate agent, or house rehabber, who makes money buying/selling houses for earned income, and they buy strip malls or rental homes for passive income. Or that person might be a computer guy who gets earned income from an employer (fixing computers), and buys run down mobile homes and rents them out on the side to get passive income. There are a million examples of the above I could go through…

Just be patient with yourself. At one point I said I would start a business and quit my job in 6 months … well it took a couple years before I could do that, and I actually wound up waiting another year to just put a lot more cash in the bank. In my case - I had a high paying job working for a very stable company - so quitting was NOT easy.

I did it though, and now I make more money than ever. I have two businesses - one new and one old - that generate me a very nice six figure income in a semi-passive manner. I have built my businesses so that I can go on a cruise to several countries OR go sit on the beach in South Florida for a week or more, and I will make money every day while I am gone … I have done that several times. This however, is still earned income. For passive income I am paying CASH for rental homes, that generate me great interest / rates of return.

Its hard to go wrong with the Rich Dad Poor Dad philosophy if you memorize the information, and really and truly implement it. However most people who read the books just put them on the shelf and don’t follow through with them. Don’t let yourself be one of those people.

Good luck!

Thank goodness someone who understands what I am going through. This is what I have been trying to tell people, but they just wasn’t hearing me. It’s always you need to find a job. Such and such is hiring blah blah blah. I couldn’t have said it any better than the way you explained it. I want my own business for these reasons: FREEDOM, UNLIMITED INCOME, oh and FREEDOM. I made sure I remember something and that is you will never get rich working for someone else. Never ever ever will you see riches like real riches working for some other guy. Even if you do have a great paying job it won’t make you rich in my opinion. I mean come on. How would that look for the employee to be rich just like his/her boss?

Well, I am highly considering trading in my BMW, and buying a new Mercedes S-class this year and taking my old boss out to lunch … “considering” is the key word. LOL! I can easily afford it but my Lonnie Scruggs side of me says buy an old junkard pickup instead <ha, that won’t happen>. There is nothing wrong with wanting to be as rich or richer than your old boss.

There are plenty of people out there like us…that appreciate being financially free.

But 90-95% of the people in society are employees, and will remain such. That is what they were taught and will always accept as being normal.

I found the Cashflow Quadrant (E/S/B/I) interesting, in that it explains how there are 4 ways in the business world people earn money. You have employees - 90-95% of the folks out there, but also the self employed (doctors, dentists, consultants, etc), business owners (people who own businesses that do not require the owners presence every day for it to operate) and investors (folks who put money in stocks, real estate and etc and earn primarily passive income). Many people actually earn money from more than one method - e.g. they might be self employed, but invest in real estate too, so they are in the SE and I quadrants. Ultimately being in the B and I quadrants is what will make you rich.

Start reading those Rich Dad books my friend. And get the audiobooks too - which can be nice if you drive much. That content will probably be like water to a sponge, with you. You will probably love it as much as I did. It’s very, very good stuff.

Those are some sweet set of wheels you have there. I’m a fan of flashy rides too. Too bad I will never see one in my future working at Wal-Mart.< Yuck. I’m too broke right now to buy any books. At this point I’ll take whatever that works as long it break me free from my 9 to 5 J.O.B.

you can probable find a copy at half price books, or you could get it from the library,money should not be a reason not to read virtually any book

Yeah but half of what price? And I don’t want it to be a reason not to read virtually any book. If I don’t have the money then I just don’t have the money. I’m in a tight squeeze this week until next payday, which is far away into next week.

go to the library,stop finding reasons you can’t do something and find a way to do it

Well, I once made $4.25 an hour, had one of those giant wooden wire spools as a dining room table, had a $10 flea market couch and a 13" black and white TV (this was the mid 1990s … not that long ago). So I know what its like to not have a lot of cash.

Since you are at a point in life where you live paycheck to paycheck, like many people do, you want to focus on increasing your income any way possible while keeping your expenses the same. Getting rich should not be the focus right now. It should be that way, once you get your head above water. When I was in your boat years ago, I decided to spend a few years in the corporate world with a career in either middle management, sales and/or computers - all paid relatively well. I went the computer job route, got tons of industry certifications / read books on the subject and became quite successful at it. I never gave up my business and investment dreams, but had to delay it as I increased my income. This is one example of how it does NOT take money to make money - many people think the opposite - which is negative and untrue.

Checkout, and search for those book titles.

You can pickup USED copies of Rich Dad Poor Dad for $3.36, Cashflow Quadrant for $0.56 and Rich Dad’s Guide To Investing for $0.04 — all used / second hand copies of course and shipping will be seperate. Amazon is the place to get cheap used books if you want to go that route.

tbodley74 I remember who you are now. A few weeks ago I made a comment about your mental state and you got offended and rightly so. What I was talking about was a lot of the things that are talked about in the rich dad poor dad book. Since you don’t have the money to buy houses right now $10 will not do much to get you there I would spend that $10 on this book. It talks about the mentality that you should have if you are ever going to get to be rich. Rich people get rich and if you take all their money away they would end up rich again because they were taught how to think rich by their “rich dad” That is what this book does. It gives you that advice that you never had. You can’t go back get reborn into a rich family and grow up again so you need to get that now. Pause read this book and then continue. It is an easy read. You should finish it is a couple of hours. You should not think of yourself as a person that makes $50,000/year you should think of yourself as a financial enterprise with $50,000 in revenues. How are you going to invest those revenues? Are you going consume that money buy buying a personnel residence or expense a few dollars monthly in rent while your capital is spent buying a row of duplexes. Do you get a good job (poor dad) or do you buy a convenience store (rich dad).

You have a job now that has you on the treadmill. Reading this book will help you get your mind in the state that will allow you to start accumulating wealth instead of just consuming.

Those books are much cheaper than I expected.