Rich Dad Poor Dad Letter
I recently got an email for this newsletter and I thought I would look into it a little more.
Robert Kiyosaki is one of the grandfathers of passive income.
I review his newsletter offer here, however if you are tired of online scams then see my #1 recommendation to make money online.
It is the best training that I have found and is the same program I and many others have used to generate an income online.
I personally used the knowledge and skills there to be able to quit my job and work part time from my laptop at home or anywhere I want.
Now back to my review:
I grew up reading “Rich Dad Poor Dad”, and then “Cash Flow Quadrant” when I was an adult.
I liked what I read and there are many principles in these books that I still find valuable even today.
Robert has been endorsed by Oprah Winfrey and Donald Trump.
His advice for financial freedom in a nutshell is to purchase and grow assets.
Assets are anything that produce income streams.
Kiyosaki recommends real estate, stocks, and business income (preferably businesses that you don’t have to spend time running).
He has authored several books and also ran seminars that teach real estate investing.
Robert is worth about $80 million.
Most of his wealth is from property income purchased when the market was low, private oil companies, and seminar income from his “Rich Dad Seminars”.
These are seminars that people attend to learn about real estate investing and are free but then the attendees are offered a program that is more extensive for thousands of dollars.
If you attend one of these seminars, you can decide for yourself if a real estate course is worth that.
However, I would do some research on it first.
He is now offering a subscription letter called the “Rich Dad Poor Dad Letter”.
It breaks my heart to say this, but I would be very wary to buy this program.
The ugly truth is that, “Rich Dad Poor Dad” was made up.
The stories were not true.
Almost every business venture that Kiyosaki has been involved in has gone bankrupt or been surrounded by scandal.
The claims made in the Rich Dad Seminars were found to be untrue.
In the early 90’s Robert used Amway to promote his book “multi-level marketing” and was sued by Sharon Lechter for not keeping the terms of agreement.
Also, his company went bankrupt just last year after losing in court for not paying royalties for his company’s seminars.
Robert has some good advice about how to think about money and assets.
However, his business practices have proven to be dishonest time and again.
I would be hesitant to buy or promote any of his products.
I definitely would not believe any of the claims made by him or his associated companies.
For that reason, I would advise against signing up for the “Rich Dad Poor Dad Letter”.
I find it difficult to trust information from sources who have proven to be disreputable.
Thank you for reading.