BiggerPockets

I'm thinking of attending one of Rich Dad's Free Workshops in my area next week. It's a 2-hr workshop, & attendees receive a free cd entitled "Budgeting Your Money", which I'm really interested in hearing. The write-up on the cd states it will show you "why living below your means is not a financially intelligent way to become rich"--this goes against the advice of a book I just read, "Total Money Makeover", by Dave Ramsey, so I'm interested in what Robert Kiyosaki has to say on the subject.
I'm wondering if anyone here has gone to this workshop, & if it's worth my time. RK won't be the speaker, & I'm assuming it may be a 2 hr sales pitch to buy into a 2 or 3 day seminar or some course. Any insight/advice? I've read a few of RK's books, & know that many people on this forum appreciate his books for their motivational value more than their "how-to" content.
TIA,
Dave.

ps--here's the link to the workshop: http://richdadeducation.com/workshop.aspx

"why living below your means is not a financially intelligent way to become rich"

I agree with the poster above, with one exception. When someone makes a statement like the quote here it makes me think they are just making a "shocking statement" intended to raise curiosity.

Personally, I don't want to hear anything from anyone claiming that living below your means is a bad idea. You can invest and live below your means at the same time. Cant' trick me (anymore).

I have a few people in my REIA that have become seminar "junkies". They have used all their investment funds in upsales from seminars. The seminar company keeps contacting them, telling them they just need one more seminar. They'll keep calling till you run out of money. I suggest staying away. Read a book on the subject instead.

Sounds like good advice, all! Thanks.
I'll be saving my PTO at work & not attending this "free" workshop.

Let me give you my experience, as I have gone through the Rich Dad workshops.

About a year and a half ago I attended the free workshop. As others have mentioned, it is a marketing technique to get you in so they can sell you the 3 day training. My partner and I went to the free workshop, where they gave you a little bit of info, but promised to reveal it all at the three day workshop, which was $500 and you could bring a guest (another marketing idea). So we split the cost and each paid $250 for the three day seminar. I was really happy and felt that the $250 was worth it. The three day seminar had a lot of info packed into it. Not having a real estate background, I like learning about the different strategies that were available. We also got to play Cashflow twice. If you do not know, Cashflow is like Monopoly on steroids. It teaches you how to use a financial statements, and helps you get an idea for different types of investing.

So on the third day, they had their sales pitch for the "advanced" courses and mentoring. The classes ranged from $5.000-$50,000. My cousin and I decided to purchase the package with 4 classes for $15,000, or $7,500 each. We did not have this money available, so we both put it on a credit card.

After taking the three day class, I then found my local reia and joined. I met so many great real estate investors there. I then began to regret spending the money on the courses. A few months later we purchased our first duplex. I just closed on my second duplex a few months ago.

I have only taken 1 out of the 4 classes that I signed up for, which was called Rich U. It was similar to the three day course, but gave you s little more detail.

So overall, if I had to do it again, I would have gone to the three day course, but would not have signed up for the advanced training. I have been able to get started in real estate without taking those courses. I am all for education and believe it is important, but Rich Dad is a marketing company, not a real estate company. They constantly try to upsell you, and I do not believe provide value for the price.

I am very happy with the Rich Dad/Poor Dad book, as well as the Cashflow game. What I would suggest for you is to join your local reia. You will meet other real estate investors there. Then I would look for some used real estate courses on ebay. I have spent ~$1,000 on ebay and have 6-8 different courses, and well as several books and dvds. These have helped me much more than the $7,500 that I spent on the Rich Dad trainings. Additionally, I had a very hard time getting financed for my first property, since I opened a new credit card and maxed out two credit cards paying for the advanced courses.

That's enough babbling. Feel free to send me a pm if you would like to talk more.

... instead of living below your means do something that increases your means... hence you will be able to "live above" where you previously were... that's all there is to that...

I stand by my original comment. Snake Oil Salesmen use "shocking statements" to peddle their wares.

It's not even Robert Kiyosaki. Mr. Russ Whitney is using RK to market his real estate investment classes. I learned some view things but alot of advertising about Russ Whitney's product.

It breaks my heart that RK is not the one who is sharing his real estate, it's RW. I am not going to prevent anyone not to go to the basic course that cost $495 but just don't over spend for the advance course which cost from $5,000 to $65,000. I learned that you can call your credit card to increase the credit limit and call the another credit card from www.opmcards.com to get those 0% cards and transfer them back and forth so you don't have to pay when you are short of $$$.

RK's game is fun. Again, I'm not preventing anyone to go. RW, Donald Trump, Robert Allen they use all the technique to lure customers to take their next courses.

want more info. check www.ripoffreport.com and type Robert Kiyosaki and Russ Whitney.

See ya,

Aherr.

Thanks for that advice, Diane! (love your sign-off, too--I'm a "Cheers" fan).
Your advice sounds doable, safe, & also motivational--gives me the feeling that I can do this successfully.
Dave.

btw--can you explain your very last sentence--what is "in money" in cash flow?
thanks...

Oh, and forget about the Kiyosaki crowd. Spend your time and money at the library and at the used book store. Cash Flow Quadrant is the best of Kiyosaki's books, but it does not help you learn the fundamentals of real estate investing. Find a seasoned investor in your area to make friends with, join (or form) a legitimate real estate investment group, and read everything you can.

I've had a similar experience as others here. I attended a free 2 hr. seminar and when I signed up for a 3 day workshop for $495 received a package of materials...Real Estate Investing Manual, audio CDs, DVD, and a book on Increasing Your Financial IQ, to get started. I found it to be very helpful and the manual was detailed enough to get me pointed in the right direction and get started. I've been reading books, articles, signing up for free webinars, and talking to people to learn the field. I haven't taken the expensive mentoring courses offered at the 3 day seminar, but I've talked to one person who did and she said it has been very helpful and worth the money. She has done a couple of wholesale deals within 2 months of the 3 day training. I personally think they are way too expensive. They are very convenient if you want to pay for it.