Rich Dad Education Workshop Review

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Been receiving a lot of emails from Rich Dad Education about an upcoming workshop?

Wondering if it’s worth the time to go?

Well, I found out.

As I’ve dabbled with Robert and Kim Kiyosaki’s Rich Dad books and training on my Enwealthen path, I’ve signed up for various mailing lists.  Recently, I was notified about a free education event in my area, so I decided to check it out.  Here’s what happened.

The Setup

The Rich Dad Education seminar was held in a local hotel conference room.  The seminar staff were courteous and professional.  Registration and sign in was a breeze.  An added plus was that the seminar started on time, although it did run about 3 hours, not the 2 hours mentioned on the website. But I’m not complaining, as it was informative, and while they were selling further Rich Dad courses, it was not overly aggressive.

The one unexpected thing was that they had all the rows of chairs blocked off, and an usher would fill each row before opening the next one.  Understandable, as it makes for best use of the space, and close contact inspires herd thinking, but still a tad socially awkward.  Walking in, I did some quick math, and strategically delayed my entrance to get an aisle seat – I like my elbow room.

No recording devices were allowed – no photos, no audio recorders, not even a tablet or laptop computer – pen and paper only. So this information is all from my handwritten notes.

The Real Estate Pitch

After a brief warmup of the first 15 minutes of Robert Kiyosaki’s video Shooting the $acred Cows of Money, Jessie Conners spoke for about 90 minutes on real estate investing.  If that name sounds familiar, you may recognize her from her stint on The Apprentice a few seasons back.  A few tidbits she shared:

  • Banks are being forced to sell their “shadow inventory” real estate – the property they’ve delayed foreclosure or sale, to avoid pushing prices too low.
  • We’re in the middle of approximately $3.7 trillion in ARM mortgages having to refinance
  • When buying, look for bank-owned, not MLS listed
  • Look for investment financing which is based on the value of the property, not your personal financial wherewithal (sounds like hard private money lending to me)

Of course, all this information is available in the 3 day class.  $200 gets you 3 days of training, the training materials, a copy of Shooting the $acred Cows of Money, and you can bring a guest.

I’m interested in real estate investing, so I figured it’s worth $200 to see what they have to offer, so I signed up.  I’ve paged through some of the training materials and nothing appears earth-shattering, but we’ll see how it turns out.  You can expect a review of their real estate investing seminar in a few months.

The Stock Market Pitch

Second half of the event was on the stock market.  I admit, I paid less attention to this section as I’m not as interested in stock market investing, given the current state of the markets.

The speaker was a smooth talking salesman type, but a believable one.  He spent most of his time talking about trading – demonstrating momentum trading based on technical indicators, options strategies such as covered calls for generating income, and put strategies for making money when the stock falls.

Common sense would tell me that if it were that simple, everyone and their dog would be doing it already, although covered calls with a collar to generate income on stocks you’re already holding sounds like it might be worth exploring further.  As you know, it’s easy to cherry pick stocks with 20/20 hindsight to show how your strategy is perfect.  This also sounds like day trading, and I’ve been burned by mechanical strategies in the past, so I’m not jumping at this chance at present.

The stock trading class they offer is also $200, includes a free month of their virtual trading environment ($39/mo afterwards) for practicing your techniques, and you can bring a guest.  The class was discounted to $99 if you  already signed up for the real estate training.

And The Delivery

In general, the session was lower pressure sales than some free events I’ve taken in the past.  Prices for the classes are reasonable compared to what you see elsewhere.  However, TANSTAAFL is the rule of the land, so we’ll see how much value I get for my dollar once I’ve completed the seminar.  As usual, lots of sales technique – get the crowd interacting with you, free gifts and rewards for acting quickly, by now, you know what I mean – but not over the top.

If you’re still on the fence about attending a Rich Dad seminar, read more of Robert Kiyosaki’s books and take the time to think it over.

Trust me, they’ll still be there if you decide to check it out.

Have you been to one of these free educational events?  What did you think of it?  Leave a comment below with your experiences.

Photo of Monopoly houses on coins courtesy of Images Money.

26 COMMENTS

  1. ok, so I recently attended this free workshop and the walk through of the seminar you laid out is identical to my experience, except the day classes are offered at $299 and $149 discount for the 2nd class. The only reason I decided to proceed is my interest in learning about trading, stocks…etc, AND they offered a 100% Money Back Guarantee for the class. My class will be in a few months, I will be sure to come back and post a review. Please post the update on your experience of the class. I am interested and curious to see how it went.

    • Thanks for sharing your experience, Elizabeth!

      Not surprising that they use the same experience for all their seminars – find what works and stick to it – but interesting that they have apparently raised their prices.

      Unfortunately, I had to postpone attending the real estate seminar due to my wedding this summer, but it’s back on my to do list, and I’ll definitely share my experiences once I do.

  2. Do not, I repeat do not attend this free seminar. I just went on saturday and all they talked about was real estate. I thought they would elaborate on the book more. This is a scam to get you to sign up for a 3 day training that I’m sure will get you nowhere. I could not believe all the people that ran back to sign up. Not me, I slid right out the back door.

    • Thanks for your comment, Adrienne!

      Your expectations definitely make a difference, in every situation. I went in expecting the sales pitch so it wasn’t that surprising. But if you’re expecting a more general financial seminar, it would be a disappointment.

  3. Just attended a Rich Dad Free Seminar last week. They focused solely on the real estate side and are now charging $495 (a discount from their web price of $1044) for the three day training. Had it been $200 I might have bit, as I could have split the cost with a friend.

    I was expecting it to be a sales pitch, so wasn’t disappointed on that end. The free seminar did give me some good ideas to get my brain going that I am now researching.

    • Thanks for the update, George.

      With inflation, it seems prices always go up, and faster than ever nowadays. But doubling the price seems excessive. I wonder if they price differently by region, or demand has increased to the point where they need to increase the price to reduce demand. It seems everyone wants to get into real estate these days, which makes me wonder about a second bubble.

  4. Thanks for the review. I’ll be attending my first event in December.

    Of course I expect them to sell products at this event…because how else are they going to pay for the conference room and give everyone free access to this event?

    I’m certainly looking forward to your review of the course or workshop that you paid for.

    $495 for 3 day course that shows you how to make money seems pretty reasonable to me.

    • Glad you liked it, Sarah! At this point I should probably go check out another one. I’m sure they change and evolve along with the economy.

      With my new family obligations, I’ve had to put the real estate workshop on hold, but it’s still on the to-do list and I’ll certainly write it up once I do.

  5. Greed Dad Education. They don’t educate they want to take your money. In my opinion they should just tell you upfront that they are just trying to sell their products to you, not educate you in any way.

    Throughout the “class” all they use is subtle techniques to get you (if you have a weak mind) thinking that you should make an investment on this, that sometimes we are cheap, and that it is very hand on than reading books. Also they use the silly technique of them having to pay a lot more back in the days. Of course I wasn’t going to fall for that. I hope you don’t either.

    • Welcome, Victor.

      I think it all depends on your expectations going in.

      Since I believe in tanstaafl I was expecting a strong sales pitch and more interested in what information they were going to share when they weren’t selling.

      But I can see how of you go in expecting a lot of information without the sales, you’d be disappointed.

  6. Attended the free seminar in Hong Kong last night, and it is pretty much the same as what you described 2 years ago, just no stock market investing mentioned.

    The course now charges around HK$7,500, which is about US$968.

    Hmm … on par with some local financial courses I joined last year, but I would like to put on-hold for the moment and do some search on the efficiency of the course first.

    • Thanks for the international information, Kenny!

      That’s a big jump in price. Makes me wonder how much of that is due to regional demand vs. a global increase in interest in real estate investing.

      I don’t think I’d pay that much for the course myself.

      If you go, let me know how it turns out either as a comment or perhaps a guest post.

  7. I attended the seminar in Hong Kong that night too. I even enrolled, however, since I don’t use credit card, they cannot charge me, but only promised to send me info to do the bank transfer. But I didn’t receive anything since then. Perhaps they are not willing to disclose their own bank info. Searched some negative feedbacks from the webs, plus the training venus is not even confirmed, I would take a step back now. Btw, I did see a few other people enrolled and paid at there too.

    • Hmm. That’s too bad you had such an odd experience. Perhaps there’s something different about the regulatory environment in Hong Kong that requires them to handle the registration differently.

      Thanks for the visibility into different Rich Dad experiences in other parts of the world.

  8. I also attended the seminar last weekend. Brainwashed and hypnotised in a closed room with temperature set very low.

    Same as above, the asked for HK$7,198 for a 3 day training programme, which will take place a month later in Island Shangri-la hotel. Since they said it is ok to bring one other person with you, so I asked the lady next to me if she is willing to split the cost. She agreed and they took our credit card each charge HK$3,599

    I checked with the hotel, they said there is an inquiry but the hotel didn’t say if that is a confirmed booking. Then I call the consumer council for advice. CC asked me to consider several things:
    1- Do they have the right to teach/provide service in HK? (the receipt do not show any address in HK, not sure if they have done any business registration in HK and not sure the one who is going to teach have work permit in HK)
    2- What if no one show up at the venue? (namely, Island Shangri-la hotel)
    3- What if they are not who they said they are? (they did not give us any of their name card)
    4- Have you tried to contact them through the e-mail address they provide? (yes, but that address gave me no reply up to this moment)

    Too many unknown and too many questions. So I and my newly made friend went to the next “free” workshop, returned the materials (DVD, USB, brochures) to them and asked for refund. The person in charge said to our face that they would do the refund straight away. Unfortunately, my credit card was charged the very next day. Fingers crossed, hope the refund will offset before the bank take money from my pocket.

    And there will be 3 more “free” workshops will take place in these days. Hopefully, those intended to attend will Google before they go. And for those who already enrolled and paid read what I’m writing here and cancel the agreement before too late.

    BTW, I checked with Tax Revenue that they do not have right to teach in Hong Kong without a B.R. as well as work permit.

    • Hmm, 2 complaints from Hong Kong. I certainly hope they’re not doing anything fishy, and that you get your money back!

      In the US you can call your credit card company and refute charges so they’re not paid if you’re charged for something you didn’t receive or have other complaints you’re resolving with the charging entity. Is that something you can do in Hong Kong?

      • Refund received, thank you Jack! I’m still hoping those who signed up for the 3-days training in Hong Kong (or Singapore) would still be able to get their refund back. I know they went to Singapore recently.

        I have no prove but I asked “Rich Dad Education” many times for their liaison partnership in Hong Kong, they can’t provide one and they do not have a registered business certificate in Hong Kong. I believe they have no business registration in Singapore as well. Likely “students” will have to fly to the UK for this “training” or you forfeit the money you paid. It is written on the back of their “agreement” that they have the right to change location/trainer/mentor. I’m pretty sure this is what will happen. And I believe this is how they scam people in Asia.

      • Glad to hear you got your money back!

        I can’t comment on their business practices in Hong Kong, but I’d be interested in hearing from others who have received any training from them in the area.

  9. Regretfully, I did not do any additional research before signing up for the 3-Day course. I read the book in a couple of days well before considering anything that would cost me money (flying through it, since it struck a chord with me and my career), but eventually I did decide to “invest” in my education. I was interested in the Real Estate side of the equation. Once it was time for the course to start, I took a day off from work, forced my wife to join me, made arrangements for my son to be taken care of while we were both away, and prepared for back-to-back-to-back, 9hr daily sessions of intensive learning…or so I thought.

    Upon arrival, we were greeted by the “mentors” (that’s business speak for “salesmen”) who are extra friendly and willing to guide you to an available seat, and point you to the fold out table with the burnt *free* coffee. We got settled in, and off to the learning races we went! Our presenter/speaker was “Ann”. She was a former Wisconsin beauty queen, and a self-described “millionaire”. Things almost immediately started to take a turn for the worst when Ann’s approach to “teaching” / speaking began involving a rhetoric that (I’m sure) insulted the intelligence of many in the audience; including my wife and I. She kept referring to the wealthy as “eagles”, and the middle/lower classes as “birds”. It reminded me of grammar school. She proceeded to address the audience, collectively, this way. She also never answered any question(s) posed by the audience (myself included) with any degree of specificity. Her style is grossly transparent, and a real bummer to witness first hand; lot’s of old-world business expressions, and corny catch phrases.

    The class then steered far away from Real Estate entrepreneurship, and wound up in a completely unexpected space: Doomsday. The first portion of the day’s silliness not withstanding, we entered into a realm of pure disillusion. The scene: Post-economic market collapse. Topics covered: A. Gun ownership, B. Food storage (namely seeds), C. Barter & Trade with roaming packs of individuals who would be willing to trade gold for seeds. It almost struck me as a wildly unrelated way to instruct or guide folks on how to profiteer in a period of crisis.

    Aside from the look of disbelief my wife and I exchanged with each other (which probably appeared more like “WTF is she talking about?!”, and “WTF does this have to do with Real Estate training?”), we noticed the same reaction across some of the other audience members’ faces. It was clear: There had to be some kind of urgency established and pushed for, so attendees / audience members would come to believe that they really need to *act before it’s too late*.

    There was a blizzard the next day. It wound up starting the night before, and continued through the 2nd day of training. They made clear that class would *still be taking place*. I decided not to attend. For the record: I was contacted and voicemail messages included some offers for a make-up session.

    Highly disappointed with the way things turned out since I enjoyed the book so much, I found the entire experience to have been something entirely different than what I understood it to be at the beginning. The moment of clarity didn’t become evident until a presentation slide was shared with a organizational chart-like visual of the holding company and all child corporations associated with “Elite” training. That moment, coupled with the exercise of playing the board game (which for the record, I found to be the most beneficial part of the training) really made it all seem like a really thoughtfully constructed pyramid scheme.

    The “mentors” are savvy: Fast-talking, confident/overconfident, experienced, believable. They were well versed on the industry, and were only available for a premium. The lowest tier of that premium (which included some advanced courses, and no mentoring) cost around $10,000 – $15,000 from what I recall. The highest tier (which included advanced courses, subscriptions to literature, online tools and the mentor(s)) was $66,0000! While I’m sure that number was probably, and eventually, discounted through some incentive based signup “bonus”, I was still taken aback by such a brazen figure.

    I mean you have to ponder over this: Consider for a moment that they (i) hired some veterans in industry (Real Estate Agents, Ex Corporate Mid-Level or Big Wigs, Insurance Agents, Real Estate Financiers, (ii) incentivize these mentors to compel attendees in the audience to “sign up” for a program that will change their life…and make them rich, and (iii) then encourage the latest member (or “customer”) of the program to become a mentor just like them.

    It’s only a theory, but it sure sounds like that pitch I heard back in college that sounded just as fishy then as it does now.

    • Thanks for the detailed account of your experience in the real estate training. Unfortunately, I still haven’t attended mine since the arrival of my son has understandably reprioritized my life.

      There’s definitely a scent of MLM in what I saw at the Millionaire Mind Intensive seminar. I wouldn’t be surprised to see similar at Rich Dad trainings. Whatever the training, I certainly wouldn’t pay $60K for any financial training.

      I don’t anticipate having 2 days free for the next several years, so I think I’ll stick to the books myself.

  10. I attended the free Rich Dad workshop in Copenhagen last evening. I expected a sales pitch of some sort, because for a free workshop that is presenting R. Kiyosaki’s knowledge and expertise wrapped in a two-hour session (essentially his brand), it was common sense to me that I was attending only the prelude of what would be introduced to us as “true means of having financial freedom”. Much like some of the other experiences written here, registration was quick and easy, and if you were not on the list, no problem, you received a sheet of paper with demographic information requested and allowed into the conference room of the Marriott for the workshop. Cameras, phones, recorders, etc. were prohibited as well.

    Our speaker was Wolfi Sweet, an American gentleman that has resided in the U.K. now for over twenty-five years, and while he seemed very expressive, even in some of his body language as he said he performs in theatre simply because ‘it is his passion and he can AFFORD to satisfy his desires… even if for free’ as he stated, he wasn’t entirely charming and the very end of his presentation was slightly disorganized and a bit chaotic with people either noisily leaving the event or heading to the back of the conference room to sign up for the actual three-day training class, while others circled around to get a few moments to ask questions (as he was adamant that there were no questions until the end to the session); and his accidentally knocking material off of the podium, making the end of his presentation quite messy.

    I wasn’t at all surprised by the sales-pitch but it was a little aggressive and out of an initial head count of roughly 100 people- give or take- the number quickly reduced by about 20% the moment he gave us the price of the course at just under 9000 Danish kroner, which is a little over $1300 USD. And if we signed up immediately, before leaving, we got an additional 25 minutes of telephone conversation/month valued at 2600 DKK ($388 USD) and life-time email access to a network of professionals to “walk you through” any questions, concerns or doubts that you would have especially as you get started in your new venture of investing in properties, for free. I forget the exact amount of this email service but I believe it was almost double the price of the 25 min telephone consultation. This was all given as a bonus with the opportunity to invite one guest, for free also, if we took the deal on the spot. He seemed a bit distracted and even slightly insulted by the fact that people were leaving as his continued, after he offered the (discounted) price of the course.

    I did believe the price to be steep, but I also think the course might really be worth a quarter of the amount, at most, in order for me to receive some of the information that could give me good ideas of how to take some initial steps to obtaining some real estate properties.

    Overall, I don’t think it was a waste of my time to attend because it was refreshing to see (even in Denmark) that there are people that are interested in making better changes in their lives and many of Wolfi’s points regarding breaking the chains of employment and now (and the next few years) being a really good time to buy property were excellent, but a few of his comments were a little negative toward those that left prematurely. “They’re just going home to watch t.v. instead of learning how to transform their lives” was silly, even if there was truth to it. It seemed low, especially for someone who says that he and his wife travels the world for ¾ of the year and really doesn’t “need” to be doing these free investment workshops. I think those comments were unnecessary but all in all, as long as it has me thinking about simple initial steps to explore further options it’s a good thing. These 3-day courses are all over the place, I’ve got time to marinate on whether I’ll actually entertain it and read up on some of what he mentioned in last night’s session, in the meantime.

    • Thanks for the detailed description of your experience with the seminar in Denmark, JJ!

      It’s fascinating to me to see how the seminar is presented in different countries, and to hear everyone’s perspective on their experience.

      Anyone can teach if you’re open to learning, so I view any free seminar as an opportunity to learn, and the sales pitch as the price of admission.

  11. Thanks for a great review, you just saved me two hours of driving to spend three hours seeing something I’m not interested in! Been there done that already.
    Loved Rich Dad book, but everything from then on has been hype hype hype as far as I’m concerned. Sad as I think he’s lost a lot of credibility in his market.
    John, Port Orange, Florida

    • Glad I could help.

      I can understand the leap from writing a book to help people reach financial independence to selling classes to teach methods for financial freedom. But it can create a very fine line between helping others and helping yourself – one that’s hard to retreat from if you cross it…

  12. Me, my husband & children if I can get it together are going to be attending this week. I know that sounds crazy but I think it will be an interesting and educational experience. I have asked permission in the past if my children can attend and they said as long as they can act appropriately then they can. Only one of my kids have attended a similar workshop but I think the more they hear from me and things like that it will help them in the future as they age and get more familiar with money and saving. I am taking a chance on the staff not allowing them but I am going to try anyway. My husband is going who is very bad with money and very very skeptical about any seminars like that. I am in shock he is even going but he has (so far ) agreed to do it for me. He might get up and walk out but I will see.

    I love Robert’s books and his insight. I am just crippled with having a husband who is on disability and legally blind so with me not having a formal education and not having a real career and 3 kids it is always a strain. But I will never stop trying to convince my husband to try this real estate thing. I am not giving up on my desire to do that. I am very excited about Friday night and hope no one makes my husband mad because he has a very ugly mouth and a bad attitude about con artist. I try to live outside the window and try to educate myself with every experience I go through. This should be interesting. I will report back when it is done and let you know how it went.

    • Good luck with the seminar!

      Real estate is a great investment, I think, as long as you can find a good investment at the right price.

      It sounds like your husband has some mental blocks about money in general. You might want to check out the Millionaire Mind seminar or book which deals more with your money mindset first. Just search Enwealthen for “Millionaire Mind” to find my reviews of them.

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