Has anybody heard of or gone to the Rich Dad ... Poor Dad event?

hannahO_2

GavB79 wrote: »

On every single investment product I have seen to do with shares, they carry the disclaimer 'past performance is not a guarantee of future results'.

These seminars are always about the up-sell - pay your £500 to be told that the real money secrets are on the 5-day course that costs £5,000.

...and on a basis of thinking that once clients buy the product/service, they will more likely to buy even further.

nakmeister

It's perhaps worth pointing out that no-one makes money from buying and selling shares in the long run. Or more specifically, no one beats the market (as in investing in stocks and shares might get you a 20% return per year in good years compared to say 5% for cash, but beating that market rate of 20% is nigh on impossible). Generally even the top fund managers never manage more than 2 years beating the market before sinking back down. In economics there is the principle of the perfect market - that is that all information about a share, it's earnings potential, risk etc is already factored into the price so you can't make money from trying to work out what is going to perform better.

Saying there are literally no one who beats the market, there are perhaps one or two and I do mean one or two. The only one I know that successfully does over the long term is Warren Buffet.

Ernster86

I urge everyone to read his book "rich dad poor dad" it will change your life if you let it.

I wouldn't recommend going to his events however.

sabretoothtigger

nakmeister wrote: »

Saying there are literally no one who beats the market, there are perhaps one or two and I do mean one or two. The only one I know that successfully does over the long term is Warren Buffet.

Theres been a few besides him but generally it pays to appreciate any good luck


Never invest in any idea you can't illustrate with a crayon. ~Peter Lynch

. In 1977, Lynch was named head of the then obscure Magellan Fund which had $18 million in assets. By the time Lynch resigned as a fund manager in 1990, the fund had grown to more than $14 billion in assets with more than 1,000 individual stock positions. From 1977 until 1990, the Magellan fund averaged a 29.2% return

rupertb_2

I have read a number of the books int eh Rich Dad, Poor Dad series and the original is bar far the best it then goes on to others such as cashflow quadrant etc which I think more are just a case of using the bran to leverage more book sales.

I wouldn't definitely advise anyone to read the original book, it is inspiring and has certainly helped me. These courses and other things they have produced post the original book really do just seem like moneyspinners.

You might get a couple of tit bits of information from the seminars that are really useful but for those tit bits you will no doubt be bombarded with the hard sale.

mizzbiz

Whilst Rich Dad, Poor Dad the book is fantastic I wouldn't go to the events. The irony in what he is saying in the books is that he is making his fortune from the books/seminars/games etc. A bit like Robert Chow, who makes his fortune from his website about helping people make a fortune.

The thing is not to listen to these people, or buy anything from them, but to try and emulate what they do.

PS I think it was property got him started, yes, but that's not where he makes his moolah now!

Padstow

budgetflyer wrote: »

Most managers are going to charge you 10% + any expenses.
I manage mine myself.
Useful sites are http://www.singingpig.co.uk/forums/ and http://propertytribes.ning.com/forum.
A month spend reading all the threads on these sites will warn you against many pitfalls.
No money down strategies are almost impossible nowadays and anyone promising a "no money down package deal" is likely to fleece you.
Saying that, there is good money to be had if you are in for the long haul. I just wish I had surplus money to invest!
You can buy flats here in Scotland, in OK areas for under £40K.These rent all day long to suitable people on benefits These should after interest payments and other expenses, show a surplus of around £250+ per month. On a £12K investment (deposit + legals etc) thats around 25% return PA

I can't be in it for the long haul, too old. I will have money from a divorce settlement and want to leave my daughter as financially secure as possible.
Would investing in property be suitable for me?