Rich Dad, Poor Dad... a Fraud

Although I was one of the people initially caught up in the excitement that Robert Kiyosaki created in this book "Rich Dad, Poor Dad", over the years I have been extremely disappointed in Kiyosaki's subsequent books and terrible investment advice.

He took one good idea, one good story about contrasting investment philosophy, and is trying to turn it into a billion dollar business. He is making money, but is essentially a fraud and a late night television salesman now.

This is a link to story written in Wallet Pop, that tells us about an undercover investigative reporting by CBC's Marketwatch. The initial workshops (costing $500) are nothing than high pressure tactics to buy advanced workshops ($12,000 to $45,000).

Keep your money at home, folks. Investing that $12,000 to $45,000 in a slow, steady, unexciting blend of index funds will get you so much better returns for your money.

I am sorry that I have ever endorsed Robert Kiyosaki.