Today I want to ask my readers a quick question…have you ever heard of Robert Kiyosaki and Rich Dad Education? Suffice it to say, Robert Kiyosaki is probably one of the most successful entrepreneurs and investors in the country and has not only monstrous wealth and success but also a massive image and reputation that he’s upheld over the years ever since writing his books.

I have been answering a lot of questions about educational material, tools to use and other resources that can help you improve as a trader, and one of my list members mentioned this resource to me so I figured I’d do a brief post about it.

But before I go into detail about Rich Dad Education, let me give you a brief summary of some of Robert’s books including his most famous release, Rich Dad Poor Dad. In Rich Dad Poor Dad, Robert talks about the history he has with his coming of age with two fathers, one a self made wealthy entrepreneur and the other a hard working but financially illiterate government worker. Suffice it to say, it has plenty of information that is very common sense to wealthy people but often completely unknown information to ordinary hard working people. Not a lot of people understand that the rich make their money work for them and the poor work for money, to give an example of just one. Great advice, by the way.

While I avidly recommend his books and the education offered by Rich Dad Education, I have some pretty stern warnings about certain business practices they have been utilizing that I want my members to be aware of. First of all, let’s be clear about what Rich Dad Education is: education! They are seeking to make you a knowledgeable trader, and that takes a lot of time and money. So don’t expect them to give you this stuff cheaply: their introductory seminars are 500 dollars, and it costs at least 3000-5000 dollars per each class, not including the cost of mentoring. Overall, to get a decent amount of education, you are looking at paying upwards of $30,000 for a few weeks of classes and some mentoring! Pretty nuts, but STILL not as bad as a 4 year school for how much you can get out of it, in my opinion. That is, if you can afford it, of course.

But that’s not what pisses me off about Rich Dad Education. Yes, I just used a vulgar word, because as usual, I’m being completely honest. What pisses me off is that Robert Kiyosaki was a salesman long, long before he became a teacher, and it shows on the people he hires to work in his company. They are very aggressive pitchmen who will work to make you feel as uneducated about whatever they are teaching you as possible so that you will trust them with thousands and thousands of dollars to take their courses and mentoring. They will often do shady, untrustworthy things like show you how to extend the limits on credit cards so you can pay for these classes in order to break out of the Rat Race.

Do people who need to extend the limits of their credit cards to afford this stuff really need to be investing thousands and thousands of dollars in the financial markets? This is why Rich Dad Education has gotten in trouble with the SEC a number of times since they began business. They are very aggressive in their marketing, and while the product is great, it is a bit overpriced and makes some insane promises about the results. Hence, all the complaints. Here’s a list of complaints filed against Rich Dad Education you should take a look at before signing up: http://www.complaintsboard.com/?search=rich+dad+education&everything=Everything

Now I’m not saying you shouldn’t get started with this company, I just want people to be aware that for the price you can do much better. I’ve been to their seminars and taken a few classes from Rich Dad and can honestly say, for the price, there are better things you could get. Just take a look at any of the products featured on this site for an idea of what to get in on that can help you trade without draining your wallet quite so ruthlessly.

However, if you really are intent on a financial education, check out Investools. They are backed by TD Ameritrade, which is much more reputable and well managed than Rich Dad, and while they are still pretty pricey, they still aren’t quite as bad as Rich Dad. Plus, they don’t have an army of annoying, overzealous, slick, former used car sales pitchmen to build you up with unrealistic dreams of wealth and perfection AS SOON AS YOU SIGN UP FOR OUR $35,000 CLASSES AND MENTORING!

Give me a fucking break already.

Anyways, leave comments below and I hope you guys enjoyed the post. Keep trading strong.