The best way to become a millionaire in five years or less 03

I do well I'm going to get into a thing my Rich Dad talked about is called the game of money and the reason we say it as a game is very simply because of this and some of you may not be sports fans but I love sports in football a game is consistent of four quarters and so my Rich Dad said life is also your financial life is in four quarters also so we can have it up here on the prompter on the plasma the game of money we have a thing called the pregame show okay and the next thing is that we go into the first quarter so age 25 is generally when most of us kind of get out of school and we sort of figure out what we're going to do so age 25 to 35 is the first quarter the way we come up with this is 10 years is because our working life is generally 40 years long 25 to 65 right so the first quarter is 25 to 35 then what happens second quarter is 35 to 45 got it you know things like this and by then you should be married which won't be married your career should be taking off and you have a house and a little bit in debt and all this stuff and then we go into halftime you know and at that point sometimes in our lives is called midlife crisis you know we say oh my goodness I'm not getting ahead of luck in promoting that game in panic sets in and then we go into the third quarter which is 45 to 55 okay and then age is 55 to 65 is the fourth quarter and if you haven't acquired enough wealth like I talked about this between wealth and being rich wealth is very simply measured in time curring income coming in for as long as you live here so if you don't have enough recurring income from wealth you go into what's called over time and over time this means that you may be on Social Security as my Japanese friend calls that aw so Social Security you know because it's so so is that if you haven't quite got it yet you haven't quite got it yet overtimes means would you like that super-sized would you like a giant-sized coca-cola with it or selling this and then you go into what's called out of time and I think this is why people are terrified right now is running out of money during retirement because when you're out of time that often times your body gives up and all this and what a lot of time what people say is that you spend your health gaining wealth and then the last few years of your life you spend your wealth trying to hang on to your health and they say so many people their fortunes get wiped out in the last two years of their lives if they don't have enough as I said the biggest problem in America is not Social Security it's Medicare 64 trillion dollars in debt right now so if you can so that's why I said I thank all of you who were born you know after 1964 because you're going to be paying for all the old guys who are out of time especially right now pregame show you know Paris Hilton was born I think with three hundred million dollars net worth she won the game before she was born you know how many people wish you were you know born rich or all that kind of stuff I always did but I wasn't so there are certain people who were born with a silver spoon in the mouth and they were so fortunate I wasn't my wife Kim won her game in the first quarter of her life she was about 35 years old when she retired she had acquired enough well enough passive income that she never had to work again so her won she won the game first quarter and I was 47 so I wanted just in the second quarter of my life that meant I never had to work again not that I was rich but I was wealthy I had money coming in every month from my investments that I never had to work again so then I took two years off suffered my midlife crisis and then came back and when I was 40 when I was 50 years old I wrote a book called Rich Dad Poor Dad and the thing took off and a whole new career opened up and now I'm in the fourth quarter of my life and thank God I don't have to worry about going into overtime or out of time because acquiring wealth is just fun for me I love investing it's not frightening it's control I have all that that make sense you guys here there's those fun so my question is to you right now is what quarter are you in how many people are in the first quarter okay how many people second quarter I mean people third quarter fourth quarter nobody's raising their hand on that couple and I want to ask about overtime and out of time but the question is this some time like it or not every single one of us needs to win the game regardless of who you are we need to win the game if we don't we go into this part over here so with that I want to bring up my sweetheart my darling my best friend it's almost 20 years of marriage right now a mess my sweetheart Kim Kim has her own corporations I have my own corporations if we ever split she's completely independent she has control of her own life that makes sense you guys are so that's why I married Robert we got together he had no money in matter of fact we celebrated when we hit zero that's how far down we were Roberts been talking about control and I love to encourage women into this world of investing because I think so many women today feel out of control when it comes to money when it comes to their financial freedom and their financial lives and so my passion is to educate and encourage women in the world of investing and the reason why I'm so driven kind of comes from comes from an incident that happened many many years ago and what it was is I was 14 years old and I remember coming home from school one day and I walked in and there was my mom and her best friend in our dining room and I walked in and mom kind of signaled me - no leave him alone leave him alone and so I walked away into the kitchen and I listened to the conversation and my mom's friend was very distraught she was crying she was upset and it turned out that her husband was leaving her for a younger woman and she went on and on they'd been married for 20-some years and kept listening and and she said something that just really hit home to me and she said you know my marriage hasn't been good for many many years but at least I was financially taken care of and my mom said well that's why you stayed she said I stood because I stayed because I didn't know how to take care of myself financially so at 14 years old I decided I was never going to be dependent on someone else for my financial well-being and that was a decision and that's why I'm so driven now to encourage women into this game as well and so when Robert talks about control I really believe that it's time that women today take control of their financial lives I think it's crucial I don't think it's a luxury or a good idea anymore I think it's something that has to happen and you know the times have changed and what worked for our mothers and our grandmothers is not necessarily going to work for us and our daughters and our granddaughters and I came across some startling statistics recently that show how much times have changed for example in the u.s. forty seven percent of women over the age of 50 are single meaning they are responsible for their financial well-being and many of us have heard the divorce rate one out of two marriages ends in divorce so if she was depending on Prince Charming to take care of her well and who usually ends up with the children the woman so the woman is now responsible for herself and for her children and the first year after a divorce on average a woman stand the living drop 73 percent and for any of you that are concerned about your mother's or your grandmother's of the elderly living in poverty three out of four are women but the amazing thing is 80 percent of those women were not poor live so what the statistics are telling me is that as women especially as we get older we have not been prepared we have not been educated to take care of ourselves financially and now is the time to do that and it doesn't take a lot it's it's really just through education and that's why I'm so happy to be part of this program on PBS because they're all about education and to get in this world of investing it takes education starts small you know make mistakes you're going to make mistakes put a little money down you'll be amazed at how smart you get when you put a little money down on an investment your education goes through the roof so again it's just about education and just to let you know it's not rocket science you know I don't have a special degree it doesn't take any special type of formal training when I started in investing it was in 1989 and Robert came to me said it's time you start investing and I'm like I don't even know what the word means and so he started to teach me what his rich dad taught him about investing and I went out and I'm stumbling along trying to figure it out and finally I came across this little two-bedroom one-bath house in a place called Portland Oregon and I signed the papers and I got the deal and and I'm doing all my due diligence now and I'm checking it out to see if I'm going to do it or not and I'll tell you I was scared to death what if the pennant moves out what if the plumbing breaks what if I what if I lose money what if what if what if what if I was scared to death and what happened is when it came time to close the papers assign the papers my hand was shaking so bad they couldn't even make out my signature but the other thing that happened is my fist was so tightly clenched around my $5,000 check that I had to part with that they never they thought they'd never get it but I did that deal and I went on to do the next deal in next deal I kept learning and I kept learning as I went and when it came down to is today I control millions of dollars worth of real estate and worth of property but it all came down to started with a little education and it started with that first step so I just want to say again I so encourage women in this game of investing it's not difficult it takes some time it takes some education but the freedom for me when I understood this game went up my confidence went up I knew for the first time that I could take care of myself I didn't have to depend on Robert I didn't need Robert I wanted Robert and I didn't need him and that made a huge reference so one final statistic only 20% studies show that only 20% of baby boomer women will be financially secure in retirement that means 80 percent of us will not so again I thank you for being at this PBS show because by being here you're getting yourself educated and all it takes is education and some action and you can be part of easily be part of that 20% who's secure and in control thank well last thing I want to talk about here is this is that I realized as I studied education it came across I started studying education a later time I was about 38 years old and I realized that each and every one of us was a genius except in school there are certain people like I had a classmate who was considered a genius in school this guy could do quantum physics and all that when he was in kindergarten the trouble is he couldn't tie your shoelaces how many people knew people like that you know their absolute and they are geniuses in school but in the real world they're incompetent this guy didn't know his left hand from his right hand he used to play baseball and I said how can I be a genius he doesn't know he could never figure out with a glove when in his left hand was right hand but he was a genius you know I said I can be a genius he can't pitch can't bet it's like this so I started to realize that genius that every one of us had it and what genius stands for is this here the genie the magic and so when I say this is this you know God created every animal on earth every species to have a special advantage for instance birds can fly cheetos run fast and cockroaches you can't kill them you know so if animals have special advantages so does each and every one of us for example Tiger Woods is a genius in the environment called the golf course Tiger Woods would not be a genius as a jockey he's just too big I would definitely not be a jockey you know what I mean like this and you look at Mick Jagger he went to school to be an accountant but he came a billionaire as a Rolling Stone thing I won't leave you with tonight ladies and gentlemen is have the courage to find that environment like Tiger Woods on the golf course Mick Jagger as a Rolling Stone Oprah in front of television find that spot where your genius comes out that's what intelligence is my genius was crushed in school I was labeled stupid and dyslexic and no attention and jumping around all the time also my genius did not come out in the corporate world I do not like being told what to do and kissing you know what to get the corporate ladder I do not do that stuff well I do well on the streets does that make sense you go that's where my genius came out and the other thing is that I never I flunked out of school twice because I could not write and I do not read that well yet but only you know know it's true I flunked when I was 15 in a flaunt I was 17 and today I have one of the top three books in the history of the New York Times I've been a New York Times best seller list for over five years now only two books have beat me one of them's a joy of sex that might take a while to beat so when I flunked out of school you know and now I have a New York Times best seller for five years I'm still allows your writer people say you can't write so you thought my English teacher you know I did graduate I have a Bachelor of Science degree and all that I went to a very prestigious school here in New York but the point here is this that's not you have to find what your genius comes out that make sense we guys here and after I flunked out of school and this book became I was scarred for the longest time I really thought I was stupid it pained me here's my father the Superintendent of Education and his son's a [ __ ] okay so what I'm thinking about if those school teachers are still alive I'm going to look them up on you know 1-800-526-6635 the courage to find that environment where you rub the magic lamp and your genius comes out the most important thing is do what you know God gave you the best genius work thank you very much you

Channel: Tibor Horvath

Views: 880,022

Rating: 4.7892742 out of 5

Keywords: Robert Kiyosaki, Kim Kiyosaki, Success, Money, CashFlow, Business, Way, Marketing, Work

Id: uNYTekY1H-g

Length: 16min 55sec (1015 seconds)

Published: Sun Mar 24 2013