Robert Kiyosaki - Rich Dad, Poor Dad: How To Use Debt To Get Rich

the reason is money as toxic after 1971 people who work for money are getting poorer because the way your wealth is sucked out of you by them dead by the US Treasury and by our government and our school system there's a people that work for money get poorer the people that save money get poor and the people that invest in stocks bonds mutual fund in ETS they're temporarily rich but most flash income is at all if you're going to be educated a person has to know those be incredibly dead and that's why I mention the demographics because the average person is not smart enough to handle that all money today is credit it doesn't exist credit is very simply the power to spend that's all it is we have a credit card there's no money in that thing they've just given you the power to spend and the moment you spend it you create debt hey everyone this is stefan from projectlifemastery.com the author of the number one personal finance book of all time known as Rich Dad Poor Dad a book that changed my life I know many of you guys know of that book and probably read it today we're gonna dive a little bit into Roberts story and also talk about his newest book called fake fake money fake teachers fake assets how lies are keeping the poor and the middle class poor so Robert thank you for taking the time thank you do you mind sharing with my audience a little bit about your story and about yourself and the the Rich Dad Poor Dad story well talk to you honest wants to know what's a fake story know it's real story you know I had I grew up in Hawaii fourth generation japanese-american my poor dad was a head of education for the state of Hawaii PhD Stanford University cago Northwestern but I call them Isis a PhD stood for poor helpless and desperate because our schools teach us nothing about money so when I was nine years old I just raised my hand I asked my teacher because I went to a rich rich kids school I was a poor kid I went to a rich kids school and I wasn't no how come they were rich and I was poor and the teacher said well if you stay in school it'll be rich I said don't be s me I mean you know my father's a PhD he's broke and she's gone oh no no you stay in school I said no don't lie to me so I kept raising my hand and she finally said she finally blurted it out you know she was like church lady on Saturday Night Live or something she goes the love of money the root of all evil and this hit maybe evil to you but I'd like to have some you know so it's a lot of that attitude and so I went home to see the old man poor dad it's good man you know six-foot-four for Japanese is fairly tall good father great husband but you know nothing about money so I kept ask him was the one you gonna teach me about money when's the school then teach us about money then he blurted it out too he says I can only teach what the government lets me teach and money is not one of those subjects and that was kind of like my first wake up that education was brainwashing I can say so I never did well on so I'm gonna have a college degree I went to a very good school that all the stuff I don't remember anything about money and I just started studying with my rich dad when I was nine and he taught his his son and me my best friend about money playing Monopoly and so we all know the formula for great there's many formulas there's a million waging go to heaven you know there's so many ways you can get rich today so many and but there's also more ways and go to a financial hell also and anyway he just taught me a plain monopoly so today I own 7,000 rental properties five hotels oil wells all I do is play Monopoly so it's not that hard to be a rich but you have to have good teachers and as you and I know there's a lot of fake teachers out there so that's where I wrote the book fake is because our school system fake we have fake money the Fed prints as much as they want and we have fake assets you know stocks bonds Mitchell funds ETS I don't touch that stuff but the average person should but I don't save money and I use debt to get rich I also in fake I write about the infinite return whereas if the higher your financial IQ you don't need money so if you need money you're not using your brain somewhere something you know because it doesn't take money to make money and that's one of the biggest lies they tell you so since 1973 I've not been I I can make up I use debt I use my own money I just borrow money to get rich and this guy's like Dave Ramsey a good friend of mine and he says live debt-free well that's good advice for his audience that's what's asking who's your demographics you know are they smart they're stupid they're rich they're poor are they educated not educated but so many people want to get rich but they have horrible teachers and then they work for fake money the US dollars fake they print it print trillions of it every month or day oh and then you buy these fake asses I don't touch that stuff but the average person should so that's why demographics and a person's desire to be rich is probably more important than their education yeah you know we talked about debt you know oftentimes people in society they look at debt is bad you mind kind of sharing what your mindset is around that you knows a good debt and bad debt well it's if you're going to be educated a person has to know there's being credit and debt and and that's why I measure the demographics because the average person's not smart enough to handle that all money today is credit it doesn't exist credit is very simply the power to spend that's all it is so when you have a credit card there's no money in that thing they've just given you the power to spend and the moment you spend it you create debt and then a debt is this contractual agreement that you'll pay it back now the trouble is most people ain't paying it back the student loan crisis with which was brought about by Obama I'm not Republican or Democrat but the student loans used to be with the big banks today with their with the US Treasury and the US Treasury started taking in a student loan debt giving them credit and now student loan debt is bigger than the subprime crisis that brought down the market in 2008 that's financial education now I know I've seen a video of yours we talked about you know every I think historically every ten years or so there's been a crash and yeah and anticipating what's coming but what could someone do to I guess educate themselves prepare and take advantage of a potential crash well what's wrong with a crash that's well that's what people don't understand crashes are really good yeah you know crashes are basically like Neiman Marcus having a sale right right so in 2008 when the markets crashed they also lowered the interest rates I thought I'd died and went to heaven that means I get my debt cheaper yeah so when the markets crashed my partners and I borrowed 300 million bucks and we bought more property and so 10 years later it's nowhere now 5 almost 600 million in debt which is past half a billion right but we got very rich off of debt but that takes financial education that's why I created the cash flow boardgame cash flows the only abort game that encourages you to use debt if you don't know how to use debt then follow Dave Ramsey's rule low debt free yeah or Suze Orman so the good debt is the debt that makes you money that you're in more than that okay you know debt is power yeah money is money is credit today yeah 1971 when Nixon took us off the gold standard the US dollar became credit or debt and the average guy doesn't know that their money doesn't exist it's only up here so what are some of the key mindset differences you found between the rich and the poor well lesson was lesson number one in Rich Dad Poor Dad which don't work for money right the reason is money is toxic after 1971 people who work for money getting poorer because the way your wealth is sucked out of you by the Fed by the US Treasury and by our government and our school system is the people that work for money get poorer the people that save money get poor and the people that invest in stocks bonds mutual funds and ETFs they're temporarily rich but in a flash it gonna lose at all because they don't have an education so that's why I can ask the demographics I generally speak to different groups but primarily my groups are very well educated entrepreneurs yeah yeah and you know we're here at an event called seller con and you're actually you're talking about selling the most important skill you said for entrepreneurs you mind talking a little bit about that well sales equals income you know if you can't sell you have no income so I don't have any income because you can't sell it's that simple so what I'm going to say to these guys is my poor dad you know he was very disappointed in me because I was a pilot and he wanted me to get my MBA and then fly for the airlines and I said I'm an employee and then I want to become an entrepreneur so my research says number one skill of an entrepreneur you gotta sell so the only job I've really had was with Xerox and because Xerox had a sales training program that's the only reason so I became number one in sales for Xerox and then I quit and started my first business which was an Alan I'm Velcro surfer wallet business and I sold the hell out of that thing the trouble is I sold more than I could produce which got me in trouble so it's good lessons you know so my poor dad was very upset because so I you know you're a Salesman I said what's wrong I'm being a salesman's salesman so crooks thus the academic teacher the elite academic mentality and I said well and that's where we're at war today with the elites you know who are the real crooks like the Clintons Obama's and those guys then you got my buddy Trump who is hated me he shouldn't say what he says but that boy knows how to sell that's why he's winning although I hate it yeah yeah I'd love to talk to you you know there's so many different investment vehicles and you know you love real estate you mind talking about no I don't love real estate so the mistake people make I love debt in taxes okay if I have real estate I can borrow as much money as I want and the more I borrow the let I pay no taxes rates so but it's not real estate you know just debt in taxes because money became debt or credit in 1971 and the more debt I have the less tax I pay mmm it's just uh it's as the law and so you know people say you can't do that I said no you can't do that but I can and that's the difference so it's not that I love real estate I just love debt and I don't want to pay taxes legally Trump doesn't pay taxes either that's why you won't show his tax returns because the American people go nuts so I loved it you know ask you about your new book what inspired you to write it well fake us really the graduate school for Rich Dad Poor Det that's why the market is very small for fake a little bit more sophisticated and rich and fake starts in 1972 us flying us flying off of Vietnam and Nixon took the dollar off the gold standard so my copay I had to say we go look for gold we didn't know what gold what Americans had never seen gold so we flew behind enemy Alliance which proves Marines aren't that bright and we went looking went to a gold mine to buy gold and this little Vietnamese woman you know I don't think she went to Harvard or anything but she wouldn't she wouldn't discount the gold so let's say goal is 50 bucks that day was 35 a few months earlier so it was going to 50 and so I said I'll give you 40 just get out of here you know and I realized something she was teaching me she was one of the best teachers I ever had because she was teaching me about money the same lessons my rich dad would try to teach me that money is fake gold is real so anyway I didn't I you know I almost got well most got captured that day but anyway we sailed a carrier then sailed to Hong Kong and I bought my first piece of gold and this was 1973 72 72 and I paid about 50 bucks for it and today that Krugerrands the South African Krugerrand is worth 1,500 bucks or 1450 today so that the Krugerrand get bigger whether the dollar go down to I mean so ever since that day I just saved gold and silver and I called gold and silver guides money and the US dollar fake money or fiat currency now does cryptocurrency Bitcoin and that's gonna cause I'm not an expert at Bitcoin because I don't have to because I don't need money but it's gonna cause havoc because it's gonna give the the Fed a lot of trouble because a lot of people are shifting to crept all right now so everybody can make crypto I don't want the big deal about it is you know you can just produce your own now so they're competing with the Fed and tea skies so it's that's what fakes about but the most important thing and fakers I write about the tax law which most people don't know about but I also write about how I create infinite returns I don't need money and so a moment and that's what the financial education I went through is I can go anywhere and make money using debt I can use other people's money so since I don't need money I save gold and silver and that's kind of my mo but I don't touch Doc's boss put your funds in ETS because that's amateurs money right only amateurs touch that stuff and that's why I stay out of it now if you don't know any better stay in it you know mmm it's fascinating so we'll make sure to link to fake as well as other books from Robert and his cash flow game to because that's one of my favorite games that played but well link all that below so make sure you guys checked out his books on Amazon I will link to his website Roberts YouTube channel as well but Robert thank you so much for taking the time that you're doing really appreciate it nicely said that young guys coming up yes trying to share the message so thank you guys so much for watching if you guys enjoyed this give this a thumbs up and we'll see you again in the next video you

Channel: Project Life Mastery

Views: 737,185

Keywords: robert kiyosaki, rich dad poor dad, robert kiyosaki real estate investing, robert kiyosaki rich dad poor dad, robert kiyosaki taxes, robert kiyosaki audiobook, robert kiyosaki cashflow quadrant, how to get rich, make money, how to invest, therichdadchannel, rich vs poor, rich vs poor motivation, motivation, robert kiyosaki motivation, robert kiyosaki fake, fake book, robert kiyosaki interview, life lessons, mindset, robert kiyosaki 2019, rich dad poor dad review

Id: CQWwGLDNz34

Length: 15min 55sec (955 seconds)

Published: Wed Jul 31 2019