How to Overcome Fear, Inflation and Crashing Markets! - Robert Kiyosaki

and this year's what the rich teach is money goes from liabilities into the income State hello it's Robert kosaki and welcome to Rich dad's World talking about very important subject as usual you guys know how much I love real estate but I'm also more in the macro macro world of what's going on in the economy and um my concern is as I wrote in this book here which dad's prophecy came out in 2013 is why the biggest stock market crash in history is still coming and this is going to be the biggest crash in world history and for many people it's going to be the worst thing that's ever happened to them I don't care if you're in stocks bonds mutual funds real estate gold or silver or Bitcoin because this crash will bring everything down now the good news is that's when you get rich and as I always ask people what did School teach you about money the answer is nothing and then we're in serious trouble so nothing has changed for Kim and myself is that we're very concerned about the growing gap between the rich and the poor this crash we're in right now is the best time for you to get rich or get smarter but it's not a time to run and that's why I'm very happy to be speaking for Rich dad's world because it really is time to get smarter and I hate to say when this crash is here that's the best time to get rich so that's I want to talk about k wasn't 2008 kind of a good time for us 2008 was a great time for us and um you know it's interesting because it there's a lot of you know the the new term is misinformation well what's misinformation you know what who's who's got the right information who's got the true information it's harder and harder to find I mean I know for you and me Robert that we talk to a lot of very smart economic um educated people um a lot of them self-educated um so it's I I really um am grateful to be able to do a program like this with Rich dead World um because I'm not even saying listen to I'm not saying we have the answers I'm not saying we have the truth but it's another point of view and what what I'm finding today more and more and more I've got to question every single thing I I read and listen to and and find the source of it and so I'm I'm just happy to be on this program and I'm very happy to introduce um an Atkinson and I'll let her introduce herself but Ann and Robert you I'll let you let let me the reason an is a real estate professional and all this so with that and welcome to Rich dad's world because we're we're into Financial education and real estates part of it welcome an an has the courage to bring us and our team in to talk about capitalism to talk about the freedom of speech and all of this and talk about financial literacy so thank you an thank you it's Anon honor to be here with the Rich Dad world the first session we did is we all played the cash flow game um and they all played Al Al all of the students played the cash flow game and to see the lights go on and to see the excitement happen um it's just like being in our public Seminars the same the same results of people getting excited about financial education about playing the game about understanding the the vocabulary and just the income statement balance sheet understanding that um you know I said to I said said when we did our last talk there I'm like if these kids can just understand income statement asset versus liability the cash flow quadrant esbi and the bi triangle if they walk away with just that they are smarter than 99% of the people on the planet so I'm I'm excited about where this could go um throughout starting in the US and and Beyond because actually we're more popular beyond the US internationally so there there's a lot of huge opportunity so we so we're going to teach what dad World teaches you guys all throughout the world Robert kosaki is the bestselling author of Rich Dad Poor Dad a 10 Robert's free virtual wealth building event claim your free access now at richdad free.com go to Rich dadre so for those of you at Rich Dad World I'll go into so Kim the first class was Kim Tom wheelright and me Tom wheelright wrote the book taxfree wealth and so we keep it super simple k i SS so this was the first thing I put up on the chart this is an income statement and balance sheet and what Kim was saying so here we're teaching this class and it's called this is Rich Dad Poor Dad this is all Rich Dad Poor Dad is this here is my poor dead it money comes in and money goes out and that's why people are poor so you can have a PhD but the money comes in and money goes out you'll never be a rich and what's happening now with the middle class because Biden took the Keystone X I'm an oil guy I went to school us Merchant me Academy my background is oil so I do know what I'm talking about oil this is the middle class today they're calling liabilities assets and the cash is Flowing out so the middle class is getting poor and poorer and poor I listen to this report this morning that ever since the year 2000 or yeah 2000 2 no 2,200 Whatever It Is 2020 since they took since the oil went up in price the middle class is now eating into their savings yeah and credit card debts going up so the middle class in America is getting poor but this is what Rich that world teaches and this year is what the rich teach is money goes from liabilities into the income statement so Kim Kim and I are are real estate people an is real estate so we have we have businesses we have real estate we have other stuff here we have Commodities we have oil we have cattle if assets putting money in our pocket so the first class we taught after playing the cash bow game with all these kids Kim gets up there I get up there and Tom we'll write my our accountant gets up there and this is what we talked about and your point Robert and the point where you talk about the middle class calling liabilities assets I mean that's that is why so many people in my opinion are in financial trouble because they're calling liabilities assets they think they have something where they have nothing not only do they not have nothing but they're paying for it every single month so again it goes back to the simple keep it s super simple um Concepts so an what what did so we just spent a lot of time just talking about a financial statement and it was three people Kim myself and Tom it was fascinating was it because because Kim had a different point of view I had different point of view Tom had a different point of view it's fascinating and here's why it's so important for these specific students how many people watching today are having stress that are in their you know their mid lives are having stress over money they don't know how they're going to retire what what Rich Dad is teaching them owning a house that your own home is not an asset it's a liability because money is outgoing you're paying taxes insurance and maintenance so this work is always important but especially when people are young how many people watching today wish that they had invested differently when they were 20 so I think too some of that some of that Academia that sometimes keeps kids stuck because it's not real world necessarily that's I see that cracking and now they take the the the academic SM smarts and apply it to real world smarts and then you've got a lot of a lot of potential I flunked math and I flunked English what else did I flunk flunk Japanese I flunk Spanish and I flunk French language is not my forte but I can speak money there's a big difference what Rich Dad world is teaching you is the language of money so this one kid I when Kim told me that story she looked at this card she's so smart you know this is the this is the financial statement of the cash board game income statement balance sheet statement of cash flow the basics of this what my banker wants to see you know my bank don't want to see my grades Bank wants to see my financials so when kid told me that one person could figure out how many times it would take them to pay off their debt my brain slipped all I know all I know being an entrepreneur is if it's an asset like if I could buy a stock for $1 all I know is I'm going to back up the truck I'm going to borrow all the money I can to buy that $1 stock and kick ass up here but these kids are so smart young people are so smart they could actually do the math I can't do the math all I know a $1 stock can go to 50 bucks and so I better borrow my ass off and buy as much as I can right Kim and that's my for that's my fora that's the formula students are often taught to not make mistakes to study to take exams but the real world personal finance requires taking risks making mistakes and you need a team of people around you for that there are things to do don't just go out there and make a bunch of mistakes not to be afraid of of making mistakes to take action and take action early so anyway and that's this is the basic this this was the first that was it a financial statement and then we went into this which you guys all learned as this is book number two the cash flow quadrant uh e sbni and our we co-taught Kim and I with Tom wheelright who's taxfree well he's definitely an a student and he told the kids you're screwed because you're smart remember that Kim he did he did he said you're all gonna be in if you don't get out of the E and the S side of the quadrant you're going to be paying the most taxes and a lot because he is the a suited and he smart one and he taught from his own experience how how he had to relearn and rethink um entrepreneurship because it was very different he was the a student still is the a student keep playing Kim excuse me what I wanted to say to Ann too is you just touched on this um you know we talk a lot about who you surround yourself with and you got to surround yourself with people that are are going to be great team members for whatever it is you want to do so you know who you surround yourself with is is crucial and you know last week we love mentors we love teachers um we have mentors for every single thing we do and uh that's part of the part of the team part of the success but this is the funny part I was just you I don't you saw me cracking up and you know I'm there because I'm the F student and C student and all this stuff but this is what Tom teaches you know employees you bring in a mining executive those guys are paying 40% in tax and you know the doctors and the attorneys and the accountants they're paying sick % in tax so these are the smart guys here and so Tom who is definitely a smart guy I mean that's his book here tax fre well he's telling all these smart kids you're screwed because you're smart I was on the floor pounding on you know just laughing my butt off but you come over here and this is where the entrepreneur lies on the big business the brand site because that's what we do rich that as a brand but that's why we pay 20% but where Tom really kicks it up is he comes in at 0% and this is why real estate and Tom is important because if you have if you're a real estate investor you don't pay taxes any comments Kim well I would I just you know and brings a whole another perspective when you're talking about real estate because I didn't know this when I first met her but an you have an an amazing background in real estate from a whole different perspective would you just share a little bit about your background yes I'm a I have an institutional real estate background so in my career I've been the head of Acquisitions for a nysse listed Real Estate Investment Trust I've um handled uh brokerage I handled the uh brokerage transaction for office and medical investment buildings and I have my own real estate investment firm so I've acquired $4.7 billion dollars of office and medical office investment properties in my career mostly on behalf of a publicly traded re I've sold half a billion dollars of incom producing mostly medical office senior housing skilled nursing and I've had been a broker for $655 million of transactions on behalf of I've represented buyers and sellers of those investment properties so my my background for 18 years has been office and medical office primarily Healthcare real estate across the country but my my real passion is is Healthcare real estate Investments it's been a fun [Music] background hi everyone I'm Kim kosaki co-host of the Rich Dad Radio Show Robert and I have warned that 2023 was going to be a roller coaster of volatility after all the stock market is largely flat this year except for a handful of tech companies and other asset classes are struggling to meet expectations one survey reveals that living paycheck to paycheck is the most most common lifestyle in America even for those making sixf fig incomes combined with hundreds of thousands of layoffs in just the last few months it's clear a financial storm is brewing the question to ask yourself is are you safe for years Robert and I and other investors have been putting more and more money into assets that can still climb when the stock market flatlines one investment that doesn't seem to be affected by the ups and downs of the stock market is Art in fact one of our close friends an adviser recommends art as his number one asset protection even more contemporary art prices have outpaced the S&P 500's total return over the last 27 years by 136% if you think art as an investment is something you want to pursue then there is a vehicle that allows you to do that without investing Millions thanks to Masterworks our longtime sponsor their platform lets you invest in shares of painting by icons like Picasso and Banky Masterworks now has 800 million in assets under management but thanks to our friends at Masterworks you can skip their wait list just click the link in the description for this episode offerings have sold out in minutes but Rich dead listeners can skip the waight list going to masterworks.io hi everyone I'm Kim kosaki co-host of the Rich Dad radio show and I want to thank today's sponsor our friends at Gold Alliance you know we should all be concerned about high inflation Al looming recession the very troubled banking system and outof control spending in Washington and the fact is during every major crisis in US history many of those who failed to prepare watch their savings Investments and retirement funds plummet while other s with the foresight to own gold help preserve their wealth and purchasing power now we're facing several major crisises at once and we may soon face even more economic turmoil so please don't wait consider gold and put yourself on the road to financial piece of mine the new free 2023 gold guide from our friends at Gold Alliance can show you how just visit www.f freegold guu.vn 73 4585 Republican governor and conservative commentator Mike Huckabee says gold Alliance is the only gold provider he recommends to his friends and family please visit freegold guu.vn beautiful Kim's beautiful everybody's wonderful but she's smart here and if I'm going to achieve zero I need an right K yeah I wish I I wish I had met you when we were doing our senior housing project almost done now we could have we could have used your expertise so i' I've been gaming so much by you know you think the kids are learning a lot I go oh my God because the more money we make here that's what Tom talks about in taxfree wealth the Reas in real estate is so important as a asset class you know so this is riched as a brand but we invest in real estate to pay no taxes but the more money we make the more sophisticated this person has to be when an gave us her background and said Thank You Jesus that's why we're here because I needed to meet another an because I need Kim and I need bigger deals right Kim yes we do yes we do we're always looking for that next deal and it's interesting on on the on the macro side Robert what you see coming down the pike regarding real estate and opportunities you want to just touch on that because I mean you this what you study every day yeah I mean you should I this sounds terrible but the real estate market the stock market and that's what I wrote about in uh in Rich's prophecy the crash is still coming it's now here I wrote this book in 2013 I I showed this book to prove I I practice what I teach you know but now it's here and as you know shopping centers are in trouble because of Amazon and all this stuff they're going to re they call it repurposing uh you know our next to our property Kim the uh old age home across the street that property came up for sale and the good news is the bigger the real estate deal the smarter people we have to have here and it comments SK well no it just it just touches on the point again you know mentors and and and um team members who are who are there to support because as as you said as we get bigger and bigger we need smarter and smarter people um we learned that we've learned that the hard way in some in some cases but I remember when we were starting out with real estate we had a small um accountant that was helping us with the real estate and as our deals got bigger he couldn't handle it anymore she could actually she couldn't handle it anymore so we had to move on um but that's part of the process so that's why I like Rich Dad world because you got the you get the education you get the mentorship you get the teachers um and they'll help you through this you actually have a a built-in team already where you and I had to start with Betty the bookkeeper and work our way up yeah there's nothing wrong with starting small no that's what we say start small yeah we recommend starting small I mean Kim what was your first real estate deal mine was a little two-bedroom one bath house for 45,000 and yours was a condo 18,000 18,000 that's where you start you gotta start I bought I bought it with a credit card and so Dave Ramsey eat your heart out you know Dave always says live debt free I mean Kim and I are up to eyeballs in debt because that's what Tom will writ tees debt and taxes make the rich richer but debt and taxes only make the rich richer on this side here and so that's rich dad's world so it's okay if you know nothing there's nothing wrong with being stupid because I'm living example of it but just keep learning start small practice a lot and that and that was one of the points too on on debt I mean the students understanding that there's such a thing as good debt most people don't know that so just keep bringing forth these simple process or these simple um definitions and examples I think think is really really important because most people are just scared to death of of to your point and about making mistakes they're scared to death of debt because what if I make a mistake and then I can't pay for my debt unfortunately a lot of people right now are are stuck in that situation because they don't see necessarily a way out which is why we teach and why we do these programs because there is a way out we had one who purchased a three-bedroom two-b house we have another who purchased a house with help from his mom and it's now it can be a property that is moves away they live in it now but he lives in it now but it can turn into an investment property and and so they're starting with these manageable bites and that's how you know that that is how to start is is with one house one property one condo maybe you put it on a credit card maybe you don't put your condo on a credit card but you start with one thing and and and I would hope that this this large audience today finds some inspiration in this conversation to find someone young in their life and introduce them to the rich bad brand it has so many different resources so I hope that this and what we're doing together can be an inspiration for others to follow and can be an inspiration for your listeners today to to find someone young in their life and and help them start small right and then so look at this here you know this is a nysse deal New York Stock Exchange deal and Kim and I have um so I was talking about how we took three companies public see the goal of a real entrepreneur is take your company public so Kim and I took three companies public on Toronto Stock Exchange about how you learn from your mistakes but our mistake was a billion dollar mistake because we started a gold mine in China and we raised 27 million on the Toronto Stock Exchange and as soon as we struck gold the Chinese government said Thank you so this gold mine here is in a country called Utah Provo Mormon country but we would never have found this steel if we hadn't lost the Chinese deel yes and to that point you know when you you've got to get out there and you've got to make the mistakes and that's why we say start small because you're GNA make mistakes you're GNA make money you're gonna lose money but if you don't get out there and do it if you're just teaching a concept that you have't experienced you don't have the lesson in the in this in the um what do you call it the the depth of knowledge behind it I mean I know when we talk about gold mines and we talk we were there every day as this was happening and how do we deal with it and how do we handle this and how do we handle our investors and how do we handle the Chinese you know government and all of this but if you're not out there actively involved if you're just listening and you're just reading and you're just watching these videos but you're not taking any action nothing's going to change you got to take action and that's why we say start small take baby steps start small but take action put a little money in the game get in the game because the game's really fun it's really fun but because of that loss this is how we got this mine here and this is Utah the richest gold mine in the world I mean the assays here it's 671 ounces per ton this that's one piece that's 600 o 671 ounces per ton of ore our gold mine in China was only 22 ounces per ton now if we hadn't screwed up in China never got this deal here yep would you say that's correct Kim yeah that's absolutely correct um had we not gone for it we would have no idea what a gold mine should be like or do or numbers or any of that same as same as when I lost that deal in Florida that Fitness Club in Florida and when I lost that Fitness Club in Florida oh man I knew more about a fitness club than I ever needed to know but that's how come we got the property we have now that we've now just converted into senior housing and it's one of our best producing properties never would have had that property had I not lost the other deal so again this here was the first flip chart we put up and was Kim myself and Tom talking about how if you can control cash flow life's easy but learning how to do this is the hard part and like Kim was saying or I say is my poor dad called liabilities assets that's why he was poor used a wrong definition of the word and my rich dad would say that's why your dad's poor because he doesn't know assets from liabilities and just that little shift could have saved my dad a lot of Po dad a lot of trouble and this is the second chart that went up this is book number two the cash flow quadrant and what we teaching these young people on the be in the eyesight big business so we go into branding but the reason real estate is important and Rich Dad world is important is you want to be an Insider I don't want to be an outsider I don't want stock spots mutual funds ETFs I mean if you want to do that fine but that's not what I do is Kim and I are on the inside all the time and that's why we're entrepreneurs we're not here but most of these guys here I said they're I never like corporate I I learned to hate corporate working for Xerox but anyway so what we what we what we taught after that is this here is book number three this is the bi triangle so it's esbn and this is where it's you have to have a team your mission is important and your leadership skills that's what makes an entrepreneur an entrepreneur and inside here's your product s stands for systems you know like computer systems and all this stuff this Comm is sales and marketing how do you communicate and that equals cash flow so when I'm analyzing a business I'm looking at the team the mission leadership the product this systems how good are the communic iations and how strongs her cash flow if any one of these eight is out business is screwed and and to that point on that diagram Robert actually the way they the way people are taught um because this question came up the other day about if you're you know bringing somebody on a partner or a high level employee they're all taught to focus on the inside of the triangle you know what are their skills with product what are their skills with system what are their skills what are they where's their knowledge on the inside but really what I said is it's all on the outside what if we're going to bring on somebody to our team it's all about are they a line of the mission are they a good team player do they have leadership skills it I don't really care about their their you know inside stuff I don't really care about their what their degree is in necessarily but if they have their right out Outer triangle then I'd be interested in in considering it but it's it's opposite again it's opposite of what is typically taught yeah and this is book number three so first book is Rich dead poor dead it's the financial statement this thing book number two is a cash flow quadrant ESB and and this is the B and and that's book number three so those are the three books that we Kim and I started with we also bring an oil guy in because Kim and I don't invest in Oil stock we invest in oil we invest only in things you cannot print so you I don't have I don't own stocks bonds mutual funds ETFs because you can print them only one stuff you cannot print and then Kim and I invest in cattle because so far the fed and the treasury cannot print a account and so I'm so hardcore entrepreneur I really don't want anything fake that's why you know like Donald Trump says fake news lot of fake news a lot of fake assets out there and that's what rich rich dad's World wants to teach that you don't you can create your own assets out there learn to create your own so I just need to um unfortunately we need to wrap it up so and you have a final comments you'd like to share with our audience yes I would I would say personal development and within that a financial education is like breakfast you had breakfast yesterday so why do you need to eat breakfast today if you have breakfast today why do you need to eat breakfast tomorrow so the teaching the Rich Dad World teaching personal development teaching there's not one solution that we teach then people understand it it's a practice and so I understand the Rich Dad World listeners are loyal they listen to these start to finish and they keep coming back for more and that so applies with this with the philosophy that personal financial education personal development is a lot like like breakfast so thank you for having me on and letting me join you [Music] today um I'll just say that you know I know some of you may be nervous or worried about what's happening what's coming down and what's been happening in the last couple years um I am and Robert is the the ultimate student who keeps uh sending us our team's videos and and macroeconomic pieces to watch which is invaluable um but I really just want to say thank you for watching because whatever comes down the more prepared you are financially and the more prepared you are educationally um the better off you'll be so a lot of those sleepless nights don't have to be so Sleepless if you actually are prepared and ready to take action and I would say take action take start small put a little money in the game start small but get in the game because otherwise um nothing's going to change in your life I agree with an you know it's like you you I never stopped learning I I don't know how anybody can say in my family everybody's got their master's degree and all that I don't you know and um I've never had to use it so far the thing I love about rich dad's world is you have real teachers and I think there's nothing more important today than having real teachers people who practice what they preach so anyway thank you thank you an thank you [Music] an podcast is a presentation of Rich Dad media Network

Channel: The Rich Dad Channel

Views: 55,428

Keywords: robert, kiyosaki, rich dad poor dad, motivational speakers, business ideas, make money, how to get rich, network marketing, how to make money, how to invest, passive income, cashflow game, Robert kiyosaki, financial education, financial literacy

Id: 2OuSy5GytzY

Length: 31min 33sec (1893 seconds)

Published: Wed Oct 25 2023