He co-wrote a small, self-published book with accountant Sharon Lechter called that became. And as Slate, it peddled some very, very suspect advice. Rich Dad, Poor Dad is considered one of the best-selling personal finance books of all time. It combined the wish-fulfillment appeal of with what could be called a practical action plan in the age of easy credit—mainly, buy homes and properties with as little money down as possible, then enjoy the income flow. No one ever went broke underestimating the financial smarts of the American public. But this month brings news of the former favorite personal finance guru in the form of an ongoing legal dispute between Kiyosaki and his former sponsor, the seminar company the Learning Annex. According to thethe Learning Annex is petitioning a U. And make it big, he did. Soon Rich Dad, Poor Dad was reprinted by a mainstream publisher. Kiyosaki appeared before throngs in Madison Square Garden, went on Oprah, did the Wealth Expo, and co-wrote two books with Trump. So what set Kiyosaki apart. Most personal finance gurus preach sacrifice. Would someone try this and write back. All this made business journalists and personal-finance types mad as hell, because in their view, Kiyosaki offered dodgy advice and appeared immune to exposés, not to mention the occasional blast from. You know, classes where people could learn the secrets of Kiyosaki from teachers. But a few rich dad poor dad movie later, Kiyosaki and co-author Lechter decided to go with another outfit then known as the Whitney Education Group. In the meantime, Lechter and Kiyosaki also fell out. As for those seminars, maybe Kiyosaki should have let the Learning Annex offer them up, and not just because of the lawsuit. They turned into something of a public-relations nightmare. The sent a hidden camera into one in 2010, where it discovered—just like so many wealth seminars, including the ones offered by Trump through —they were mainly selling people on the opportunity to purchase more specialized and expensive seminars costing thousands of dollars. Since then, Whitney has gone through a name change and a reverse merger, and is now folded into a company called Legacy Education Alliance. It still offers Rich Dad seminars via an agreement with another Kiyosaki concern, Rich Dad Operating Co. You can attend one this weekend in Denver or Honolulu, in fact. But the money, the money. So what happened to the money. Rich Global said in 2012 it would never move around funds in advance of a bankruptcy filing. And that brings us back to the latest round. It further believes that this case in Wyoming—filed against Rich Global and a number of other Kiyosaki-controlled corporate entities by the lawyer tasked with helping it pay off its debts—revolves around the same issue. But in the meantime, consider this your regular reminder that most personal finance gurus get rich not from their investment smarts, but from their ability to sell you on their investing smarts. Also consider this a reminder that the strategic use of bankruptcy helps, too. If you value our work, please disable your ad blocker. Want to Block Ads But Still Support Slate. Rich dad poor dad movie joining Slate Plus you support our work and get exclusive content. And you'll never see this message again. Po r+i,0 :Uo i,r-1 ,g e,yr t,3 ,i. D:Di e }function Si e {return e?.
