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(WTAE)   Some people are shocked that they have to pay thousands of dollars to get in to the "Rich Dad Poor Dad" seminar yet they still don't get rich   (wtae.com) divider line 45
    More: Obvious, Rich Dad Poor Dad, Rich Dad, seminars, Monroeville  
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4574 clicks; posted to Main » on 09 May 2013 at 7:35 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-05-09 07:37:09 AM  
I thought knowledge was the new money. So, in that sense, they are richer than they were before, knowing as they do that they were grifted.
 
2013-05-09 07:37:58 AM  
You get rich hosting seminars by taking money from the people who attend.
 
2013-05-09 07:39:21 AM  

LarryDan43: You get rich hosting seminars by taking money from the people who attend.


Yea, the attendees aren't getting rich, but someone sure is.

How are these things not considered pyramid schemes?
 
2013-05-09 07:40:05 AM  
memecrunch.com
 
2013-05-09 07:40:26 AM  
And you don't even get a Rasta banana.
 
2013-05-09 07:41:58 AM  
My Poor Dad bought tickets to see Bob Kiyosaki speak at a seminar about wealth building.

My Rich Dad stepped in front of one of the attendees cars after the seminar and got a huge insurance payout.
 
2013-05-09 07:45:14 AM  
Never take advise on getting rich from someone who is still working for his or her money.
 
2013-05-09 07:49:13 AM  

DerAppie: Never take advise on getting rich from someone who is still working for his or her money.


.

I'm holding a seminar about this very subject, you should attend!
 
2013-05-09 07:51:56 AM  

DerAppie: Never take advise on getting rich from someone who is still working for his or her money.


Wouldn't the opposite also be true?  How would some butthead that inherited wealth going to help you?  HIs/her advice "have super super rich parents/relatives and be in their will" ?
 
2013-05-09 07:53:09 AM  

LarryDan43: You get rich hosting seminars by taking money from the people who attend.


Works just like a university.
 
2013-05-09 07:54:07 AM  
Rich dads, poor suckers.
 
2013-05-09 07:56:40 AM  

FullMetalPanda: DerAppie: Never take advise on getting rich from someone who is still working for his or her money.

Wouldn't the opposite also be true?  How would some butthead that inherited wealth going to help you?  HIs/her advice "have super super rich parents/relatives and be in their will" ?


Do you see that I underlined and bolded the appropriate functional word in the poster you referenced?  The used of the word "still" implies that they did work for their own money at some time in the past.. and that they have so much now that they don't have to work.

/you don't need a million dollars to sleep with 2 women.... though my girlfriend did get mad half way thorough.
 
2013-05-09 07:57:51 AM  

INeedAName: How are these things not considered pyramid schemes?


That would be one very short, wide pyramid -- it's just one layer high.

One bloodsucker sitting on top of a base of a million morons.
 
2013-05-09 08:00:07 AM  
Back in High School our Ag teacher read that whole book to us. Worst week of my life.
 
2013-05-09 08:02:40 AM  
Heh... from Wiki:

How corporations are artificial entities that anyone can use, but the poor usually do not know how

then...

On August 20, 2012, one of Kiyosaki's companies, Rich Global LLC, filed for bankruptcy in Wyoming Bankruptcy Court. The move followed a ruling by a U.S. District Court jury that former business partners of Kiyosaki were entitled to $23,687,957.21 of the profits from events they helped to set up for Kiyosaki including a 2002 appearance at New York's . A spokesman for Kiyosaki asserted that the amount of the award exceeded the value of Rich Global LLC and that Kiyosaki had no intention of using his personal assets to meet the judgement.

So the secret to getting rich is to use a corporation to stiff people on money you owe them and then when the bailiffs come knocking fold up the company while keeping the cash.
 
2013-05-09 08:05:58 AM  
"Rubes and carnies, Fezzie ..... rubes and carnies."
 
2013-05-09 08:06:15 AM  
The failure stories in the article sound like success stories considering the payout from American lawsuits.

On the other hand, hah! Work smarter, not harder. There's your fourty thousand dollars worth of seminars.
 
2013-05-09 08:06:57 AM  

INeedAName: How are these things not considered pyramid schemes?


because RDPD isn't a pyramid scheme.

A pyramid scheme is similar to MLM, where the starter of a company has half a dozen people join his team, for a referral or set up fee. This fee gets funneled to the top.  Those 6 now go out and refer others to join the team, usually in selling some products or what have you with the set up fee going to each to the 6, and a small cut of the set up fee going back to the guy at the top. The agents recruited by the 6 then go out and sell the products but ultimately, that big juicy set up fee that they get from a future referral is where the real money is.  In a pyramid scheme, the product being sold is the right to get into the business itself.  Those who can hustle and sell enough goji berry juice, soap or makeup to their friends and family can actually do well.  The 3% of people who have it in them are pushed as a success.  The other 97 are blocked by their friends on facebook.

I read RDPD long ago and the basic concepts are good for everyone to keep in mind.  Spend your money on assets which retain or increase in value. Avoid spending money on things which lose value.  I can only assume these seminars are a bid sketchier, where they push how to flip real estate or play the market but for the commoner looking for good, common sense financial wisdom, the original RDPD book is worth the read.

Stocks, bonds, real estate, businesses - all things which tend to hold or increase in value over time
Clothes, cars, vacations, electronics, Jones' type items....  generally lose value or become obsolete after a couple of years
 
2013-05-09 08:07:06 AM  

INeedAName: LarryDan43: You get rich hosting seminars by taking money from the people who attend.

Yea, the attendees aren't getting rich, but someone sure is.

How are these things not considered pyramid schemes?


It's a seminar on how best to set up a pyramid scheme from what I can tell.
 
2013-05-09 08:08:08 AM  

My Pop bought into thehttp://en.wikipedia.org/wiki/Erhard_Seminars_Training EST

thing back in the mid-late 70's. Bought into it, hook, line, sinker and about half the farkin rod. Spent several thousand over a couple of years. Then he tried to preach it at my brother and myself, having us read the material and attend a few sessions. My brother got up in the middle of one of these to go take a leak (he was about 8 or 9 I think) and the guy "teaching" the session lost his farking nut. Screaming at the top of his lungs at a little kid who was deliberately trying to break the bond of his Self-awareness or some bullshiat. I don't remember exactly. We told Mom about it when we came home from that summer visit and she pretty much chewed Pop's ears off over the phone for about two hours straight.

Now it comes out that it was basically Church of Satan/Ayn Rand psychotwisting shiat and a LOT of people bought into it and still do.
 
2013-05-09 08:09:43 AM  
Really?  The guy who has little-to-no financial education, bankrupted a company, was homeless for a while, and came up with a semi-clever sales gimmick for selling financial services to the masses, may not make you rich?

images.sodahead.com
 
2013-05-09 08:14:25 AM  

baufan2005: Back in High School our Ag teacher read that whole book to us. Worst week of my life.


Really?  Wow.

Ours just made us go out into the shop and screw around when he didn't have anything else to do.  We would then proceed to injure ourselves (cutting off finger tips on the jigsaw, grabbing frayed wire welder cords, and shattering overhead fluorescent lights with flying nails so they fell on us) or we would just roll wagon axles down the hill onto the practice football field.

/we were his last senior class, he didn't care anymore
 
2013-05-09 08:33:51 AM  

vudukungfu: LarryDan43: You get rich hosting seminars by taking money from the people who attend.

Works just like a university.


But with better parking.
 
2013-05-09 08:42:45 AM  

o5iiawah: I read RDPD long ago and the basic concepts are good for everyone to keep in mind.  Spend your money on assets which retain or increase in value. Avoid spending money on things which lose value.


For a basic intro to personal financial planning stuff, I've recommended  The Wealthy Barber. It's written at about a fourth grade level, and is cheesy as hell, but it covers a lot of basic concepts.
 
2013-05-09 08:50:37 AM  
See, the thing is that plans are pretty easy.  Execution is difficult.

FWIW, The Ramsey "total money makeover" plan worked out for me pretty well, and I never attended a seminar.  It's a little Jesus-y in places, but it's pretty solid advice.

/0.2
 
2013-05-09 08:53:36 AM  

fireclown: FWIW, The Ramsey "total money makeover" plan worked out for me pretty well, and I never attended a seminar.  It's a little Jesus-y in places, but it's pretty solid advice

 
2013-05-09 09:19:12 AM  
I read part of that book after someone told me about it, just to have a better idea of where they were coming from so I could better slap down their obviously-stupid arguments, and the main lesson seems to be, 'You get rich by getting people to work for you and taking their surplus labor value (the value they produce minus what you pay them) as profit.'

In other words, "be a capitalist".
 
2013-05-09 09:28:43 AM  
Everything you need to know about becoming wealthy and successful is freely available on the internet.

That said, it doesn't mean just anyone can pull it off.  There's a lot of hard work and dedication and a certain amount of luck involved.

I've been a business owner for 15 years and I do ok.  I've met a lot of successful/moderately wealthy people over the years.  If there was one common thread among them it was persistence.  Not brains, not a good idea - but the ability to keep working on something when lots of people (and maybe common sense) would have said to stop.

On another note, do you know why people pay $15,000 to go to a seminar? It's all about perceived value.  If your friend gave you a ticket to a "Get Rich" seminar and the face value of the ticket was $5 would you go? Probably not - but if the face value was $15,000 would you go? Probably.

There's a certain segment of society that is always looking for "the secret" or "the shortcut" for everything, whether it's wealth or weight loss (guilty as charged for the last one of those....)
 
2013-05-09 09:30:54 AM  

mrlewish: FullMetalPanda: DerAppie: Never take advise on getting rich from someone who is still working for his or her money.

Wouldn't the opposite also be true?  How would some butthead that inherited wealth going to help you?  HIs/her advice "have super super rich parents/relatives and be in their will" ?

Do you see that I underlined and bolded the appropriate functional word in the poster you referenced?  The used of the word "still" implies that they did work for their own money at some time in the past.. and that they have so much now that they don't have to work.

/you don't need a million dollars to sleep with 2 women.... though my girlfriend did get mad half way thorough.


She wouldn't get mad if you were completely thorough.
 
2013-05-09 09:40:47 AM  

Sharksfan: Everything you need to know about becoming wealthy and successful is freely available on the internet.

That said, it doesn't mean just anyone can pull it off.  There's a lot of hard work and dedication and a certain amount of luck involved.

I've been a business owner for 15 years and I do ok.  I've met a lot of successful/moderately wealthy people over the years.  If there was one common thread among them it was persistence.  Not brains, not a good idea - but the ability to keep working on something when lots of people (and maybe common sense) would have said to stop.

On another note, do you know why people pay $15,000 to go to a seminar? It's all about perceived value.  If your friend gave you a ticket to a "Get Rich" seminar and the face value of the ticket was $5 would you go? Probably not - but if the face value was $15,000 would you go? Probably.

There's a certain segment of society that is always looking for "the secret" or "the shortcut" for everything, whether it's wealth or weight loss (guilty as charged for the last one of those....)



A couple guys I know bought into some real estate seminar, they spent close to 30K between the two of them and they have still yet to acquire any real estate.

I actually have enough experience to put together one of these seminars, but I  give the info out for free. The only thing I ask people for is when they are ready to buy a property is to use my wife as their agent and if they don't want to manage it, then let me do it.
 
2013-05-09 09:43:39 AM  
Read this headline and then checked my phone to see "Rich Dad Education - You're invited to a Complimentary Event in the Boston etc." in my junk email notifications...

Yeah, I don't live in Boston nor do I have kids, but I do have a wonderful social life fueled by lots of disposable income thanks.
 
2013-05-09 09:44:21 AM  
The dirty little secret of wealth that these financial fraudsters want nobody to know:

The single best predictor of wealth is parental wealth. It's that simple. The fraudsters claim they know the secret of "beating" this, but they're obvious liars. Proof: If their little methods actually worked, it would not be necessary to go to their seminars or buy their books. Somebody would have already leaked it, and word of mouth would have spread the details like wildfire. However, society would fairly quickly adjust to everybody knowing how to "beat the system", and we'd be back to where we started. It's how this always works. Even if "Rich Dad Poor Dad" worked decades ago, it won't work now, because the system has incorporated and adapted to it.

It's just how reality works. The function curve reasserts. It always reasserts.
 
2013-05-09 10:33:36 AM  
Interesting side note - a few years ago a person did some investigative analysis of the "Rich Dad, Poor Dad" story.

The poor dad was allegedly a neighbor who lived near the author of the book.

When the journalist went through the area and interviewed all of the neighbors no one had any idea who the poor dad could have been.  No one fit the description - so even though the author claims the guy was real it was probably a fictional person.

It doesn't mean the advice is good or bad - but it really makes you question the marketing behind it.
 
2013-05-09 11:44:16 AM  
Fark all that

Start a religion
 
2013-05-09 11:49:47 AM  

gweilo8888: INeedAName: How are these things not considered pyramid schemes?

That would be one very short, wide pyramid -- it's just one layer high.

One bloodsucker sitting on top of a base of a million morons.


So .... a church?
 
2013-05-09 11:50:16 AM  
Can we still go to the Tommy Wu real estate seminar. Loved those late night commercials with him on a boat full of hot chicks.
 
2013-05-09 11:54:09 AM  

ImpendingCynic: So .... a church?


Oh, well played.
 
2013-05-09 11:57:33 AM  
My ex girlfriend's mom gave that to me for my birthday one year. Im still fairly good friends with the family, and they're not totally derpy, the mom just thought that it would help me improve myself.

The book may be fantasy, but i am long exposed to the use of fantasy to highlight or promote an ideology or philosophical concept, why not economic sense?

/That said, as son of a poor family with a bad work ethic, most of it was useless.

//Breakup happened because it was a multiyear long distance relationship prior web2.0, and i started to like teh menz - not because of her. She was and is beautiful, wtty, smart and talebted. I just wasnt right for her.
 
2013-05-09 12:18:42 PM  
 Heh, reminds me of when my ex wanted us to attend this financial planning seminar thing. At a cost of $100. Personally I think the monetary requirment should automatically fail you from the "course".

Hypnozombie
/but they do seem to have their target audience figured out.
 
2013-05-09 12:38:34 PM  
All the rich people i know didn't go to any seminar or read any books they're just better than everyone else at what they do and money follows. They also have a knack for just making things happen. One of my friends is a pharmacist who saw a spot in a hospital that could be  a pharmacy so he put one there. He didn't wonder or fantasize he just put in a pharmacy, now he owns a small chain of pharmacies throughout Texas. It's a subtle but important talent, actually making things happen vs just thinking about making things happen.
 
2013-05-09 02:33:19 PM  
My ex took me to these RDPD seminars as a guest (so it was free for me)(she insisted I go).  Essentially, the first free seminar gives vague ideas that college is a waste of money, you get rich by investing in real estate.  The second seminar, 3 days long (8 hours a day, cost her $200)(I ducked out most of the time to hit a bar) was saying that there's a secret way to get real estate listings of apartment bldgs or trailer parks.  They insisted all you need is credit, and the tenants' rent will pay it off in no time, then step three, profit!  After all of that, you learn you have to drop $20,000 to go to the next seminar where you'll finally learn the secret listing and how to manage your property.

I was so annoyed the whole time, but I was part time freelancing, so, I had free time.  The name itself, implies a false dichotomy.

/VBSB (Very boring story bro)
 
2013-05-09 10:04:36 PM  
This is one of the mian reasons why I left my ex. He fell for the Primerica BS hook, line and sinker. Primerica heavily promotes this book to their slaves reps.

If you have a loved one in an MLM, you have my sympathy. Primerica destroyed my marriage and took a good chunk of my life along with it.
 
2013-05-09 10:21:48 PM  

Hermione_Granger: This is one of the mian reasons why I left my ex. He fell for the Primerica BS hook, line and sinker. Primerica heavily promotes this book to their slaves reps.

If you have a loved one in an MLM, you have my sympathy. Primerica destroyed my marriage and took a good chunk of my life along with it.



I'm very sorry to hear that, Ms. Granger.
 
2013-05-09 10:52:29 PM  

northguineahills: My ex took me to these RDPD seminars as a guest (so it was free for me)(she insisted I go).  Essentially, the first free seminar gives vague ideas that college is a waste of money, you get rich by investing in real estate.  The second seminar, 3 days long (8 hours a day, cost her $200)(I ducked out most of the time to hit a bar) was saying that there's a secret way to get real estate listings of apartment bldgs or trailer parks.  They insisted all you need is credit, and the tenants' rent will pay it off in no time, then step three, profit!  After all of that, you learn you have to drop $20,000 to go to the next seminar where you'll finally learn the secret listing and how to manage your property.

I was so annoyed the whole time, but I was part time freelancing, so, I had free time.  The name itself, implies a false dichotomy.

/VBSB (Very boring story bro)


That sounds like every other real estate get-rich seminar. In a word: scam. Every "class" is nothing but a pep-talk session to feel out suckers who will spend exponentially more money for another seminar.
 
2013-05-10 08:09:45 AM  
If you're siting at the poker table and you can't figure out who the sucker is, it's you.
 
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