RICH VS POOR MINDSET | An Eye Opening Interview with Robert Kiyosaki

the most obsolete idea is go to school get a job or a card save money get out of debt and invest for the long-term in the stock market see why would you save money when they're printing trillions of dollars the gap between the 1% and 99% is massive you see it's not just money you have to step back and look at the bigger picture so what do you do in every one of us is a poor person there's still a poor person inside me there's also a middle-class person and the middle-class person's wants security and with that steady paycheck and as a rich person and they're all inside of us except that it's not taught if you're taught to go to school get a job and get a paycheck not taught how to get rich if you're read Rich Dad Poor Dad my rich gent refused to pay me you said the Paycheck was one of the most damaging things you could take in your life he says the moment you take a paycheck you're an employee and that's the mindset so my Rich Dad never paid me it drove my poor debt you know government employee nuts you got to pay people you got to pay people in rich dad was not saying that the paycheck was bad he says he didn't want to be a slave to money so as an entrepreneur you know a Rich Dad folded I just run another company I don't need a paycheck I don't need anybody to take care of me if my government doesn't like me I move to another country because they need entrepreneurs there so the entrepreneur is not so much the business the entrepreneurs really the mindset and the skill sets and the different set of rules you see I don't operate small business that's not hot prey in the same rules as big business entrepreneur is a mindset first a skill set and rules and depending upon whether your employee or small business the rules are different the mindsets are different the skill sensitive you could say one thing to somebody who's never been an entrepreneur and they're thinking about making the leap of faith into becoming an entrepreneur what could you tell them well I'll just tell them the same thing that happened to me you know my last paycheck I still remember it clearly it was one of the worst and the best days of my life and I was in Puerto Rico I was in I was working for Xerox and my boss gave me my last it wasn't a paycheck was a bonus check I think was about 30,000 bucks taxable it's only probable that look at this check and I went oh you know I mean so I was excited but I was also disturbed and so this other guy comes up to me they must John and John says to me says you're gonna be back I said why he says cuz you're gonna fail I looked at him as I look few expletive words because that's what he did he left Xerox failed and came back I said look you fail and you come came back but I'm gonna fail and I'm never coming back and that's the attitude do what I mean yeah if if you say well if I fail I'll go back to mommy and daddy and that's what you'll do so if you fail that's when I became an entrepreneur because I had no money I had no money for years yeah I didn't have a paycheck but that's what my rich dad encouraged me to do is is when you're when you don't have this paycheck you get hungrier smarter he's a test of your character we become a crook we become dishonest will you cheat and steal or will you become a better human being so really that's the benefit of becoming an entrepreneur you really find out who you are when you don't have anything you always have to look at the big picture too many people look at well what's it what's gonna happen to me well you look at the big picture you're also gonna know that when something bad happens something Goods gonna happen but you gotta prepare for whatever is coming if you think next 20 years will be like the last 20 years you never creamed you know when you and I go to the supermarket we buy a carton of milk well let's check for the expiration date but most people do not check for the expiration date on their brains instead of getting out of debt I get into debt I just refinance 300 million in debt and went from five percent to two and a half percent interest I made a fortune every month more money comes in because my cost of money has gone down so while some financial experts are saying get out of debt I'm saying learn how to use debt so when I came back from seven in Vietnam in January of 73 the first thing my rich dad said to me was go to school to learn how to invest in real estate it wasn't real estate it was how to use debt and taxes debt and taxes make the rich richer debt and taxes make the poor middle class poor it's all the rich guys who are doctors and lawyers or you know those guys they're getting creamed and they don't know why doctors are getting creamed oh yeah they make it more money but the take-home is less sure you know my doctor just yelled at me who's happy says my goose made a million dollars I said yeah this is Lissa Riggs ago si says ah yeah well how much you pay in tax he says seven hundred fifty thousand in taxes so his net was about four hundred thousand that's not bad but when I make a million bucks I keep a million bucks and the reason is because I don't make it by working for money see if you work for money your text so that's why I lesson number one enriched head poor dad who's the rich don't work for money what we do instead is we create businesses as entrepreneurs we acquire real estate I don't invest in the stock market so the reason is because as entrepreneurs I have more control over my income how much I make and how much I pay in taxes and because I'm an entrepreneur as well as an investor in real estate I pay zero tax so every time I make let's say a million dollars as an entrepreneur I immediately invested in real estate I have a four to one step up so I put a million dollars in real estate I get four million from the bank that's why I love banks but the banks are screwing everybody else up terrible buzz good for me I thought you said when you print that's good for you but when you print is bad for people I work for money because when you print service got creamed and people who were winning it great when they print debtors get rich you see debt and taxes make the rich richer and debt and taxes make the poor middle class poorer when we have obsolete ideas we get obsolete results so what's happening for most people the idea of going to school getting a job working hard saving money getting out of debt buying your house because it's an acid and vesicle a long term it's obsolete the world has changed the world changed in 1971 when President Nixon took us off the gold standard and money became debt what if we get rid of school then what would happen would it be better if we had no educational system at all no I'm saying education is more important before it's just obsolete you know there's Moore's law that Moore's law which states information doubles every 18 months in other words everything is obsolete 18 months so and this is a recent phenomenon so when you come out of school you're obsolete and that's why I'm the old guy you know I meet my friends went to Harvard yeah I went to Harvard that's it yeah that was how long fifty years ago today the banks are charging you interest to save money in other words the banks don't want your money because they're printed too much of it and that's why there's bubbles and stocks and bubbles and real estate and all this people are dumping the cash is as I said in here savers or losers and cash is trash and yet people at what a high-paying job well that's an obsolete idea get out of debt it's an obsolete idea you should learn how to get into debt how do you use debt to get rich and they'll never teach you about taxes the reason the one-percent is way up here and the 99% are going this way is because when you print money two things happen inflation and taxes it's crushing and any entrepreneur thinks I'm just gonna make money to start a business make a lot of money because that we talk about they really have got to smell the roses man you know that's not what the real entrepreneurs are doing most entrepreneurs there's 28 million small business owners in America 24 million are what par one person entrepreneurs they're called non-employee entrepreneurs so that because and that's what happens is when people don't really understand what an entrepreneur does so most big people are self-employed but they're not really entrepreneurs the self-employed be the highest taxes of all and nobody tells them that yeah it's also called the entrepreneurial spirit but what we were actually talking about was there's no such thing as a bad economy you know those externally you and I we all have an external economy but we also have an internal economy and the willpower is to change our internal economy so for me I can see the good I can see the bad I don't really give a damn because I'm gonna be rich anyway but a poor person with a poor personal economy all they're gonna see is a bodyguard because they don't know how to make money in any economy and a middle-class person they have a middle-class economy you know that but the one is a nice house a steady paycheck and the job and the car and so when you take their job away to them that's disaster well since an entrepreneur doesn't have much anyway it's no big deal so all I'm saying to people is what Bucky fuller taught me there's always two sides you know I mean you know to use plural had been a mom too so if you think the economy is bad it's because your economy is bad if you think that steady you know employment is important then you'll see in an economy without jobs your economy versus the externally God where you control I can control yes : it's called an internal focus versus an external focus so the real entrepreneur has an internal focus that if they fall down they say oh this is good because I'm gonna go up higher you know the average person will fall down so I'm gonna take some prozac or or the somebody has the mistakes all the mistakes don't matter mistakes mistakes matter it means you didn't notice them but a real entrepreneur know at the whether they fall down they go there always can go on they can stand back up and go higher the no matter what happens to them they got stronger and better and smarter and but person with a weak internal mindset is that they're so afraid of what happens it generally happens like you know people are afraid of losing their jobs they generally put us through jobs I mean yeah so it's not so you can cut through you yeah so the entrepreneur first job is control inside here not outside there the moment you take that paycheck you're an employee you've got to be stronger than that it's about inside control [Music] you

Channel: Motiversity

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Keywords: motivation, rich dad poor dad, rich vs poor, rich vs poor mindset, rich vs poor motivation, An Eye Opening Interview with Robert Kiyosaki, Robert Kiyosaki, motiversity, best motivational video, Robert Kiyosaki speech, Robert Kiyosaki interview, Robert Kiyosaki rich dad poor dad, Robert Kiyosaki motiversity, Robert Kiyosaki motivation, business motivation, business motiversity, eye opening, eye opening speech, eye opening video, eye opening interview, life lessons, mindset

Id: az6NibAUf7Y

Length: 11min 57sec (717 seconds)

Published: Mon Jul 29 2019