Master the Six Basic Rules of Investing – Robert Kiyosaki

June 5, 2024

Master the Six Basic Rules of Investing – Robert Kiyosaki

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I always borrow to invest one of my favorite books that just came out with us called fake fake money fake teachers fake assets I use debt to invest but to be able to do that to go to here to get rich to do that you’ve really got to have a lot of financial education I don’t recommend it but it’s the best way to get rich President Trump you know my friend we wrote two books together and now some of you guys hate him a lot of people hate the guy but he’s very smart he’s a capitalist Obama socialist communist LRA crook so anyway be very careful right now because I use debt Trump uses debt the more debt we use the less tax we pay that is why I love real estate I can use debt and pay no taxes make a lot of money so that’s really what I teach I don’t recommend it but for those of you who understand what’s called an infinite return it’s the best way to get rich but you have to have a lot of financial education so the reason the rich don’t pay taxes is because there’s three types of income and they’ll never teach you this in school the fake teacher will never then number one type of the three types of income okay number one type of income is earned income that’s earned income it’s when you work for money it’s earned so that earned income shows up here so these are the guys that pay tax so when all the guys are screaming taxed are rich well you can’t tax them because they don’t have jobs it’s kind of funny is it you’ve got a tax too rich oh yeah good luck and the second type of income is portfolio income and portfolio income is from flipping houses or you buy a stock for like $10 you sell it for $20 that’s portfolio income okay I don’t do that Trump doesn’t do that so most guys are all flipping houses and all that buying stocks and flipping them foot – you’re getting this type of income so this this income is about 20% today some about here but the income that the rich work for is called passive income passive income is also known as cash flow that’s the Neymar game cash flow and that income is income that’s flowing from here to here it bypasses taxes so I know it doesn’t sound fair and it isn’t fair I don’t disagree with you but what’s not fair is our schools which are part of the problem will never explain to our school system is so fake is more fake than those fake plastic plans and these teachers bless our hearts they don’t know any of this and I really want to talk to you about the most important subject for all of us today rich young poor old it’s called financial education and as you know our school systems teach us nothing about money nothing it’s pathetic you know they have financial literacy courses today well that’s not financial education you know it’s really pathetic and what’s happening for most people today is you know they follow that age-old mantra go to school what do you learn about money in school nothing get a job well jobs are disappearing not only that is that with artificial intelligence and ji5 coming more jobs are gonna be wiped out plus with driverless cars more jobs again wiped out so why would you go to school to get a job and then work hard for money but pay and pay taxes taxes are going to keep going up sports fans they have to somebody’s gonna pay off this massive mountain of debt stacking up all over the world and only where they pay off debt is via taxes and then they tell you to get out of debt Oh God debt is money please understand me in 1971 when Nixon took the dollar off the gold standard money became debt so the rich know how to use debt to get rich and that’s what I do my friend Donald Trump I know so you hate the guy more power to you you know but we use debt as money and other guys will tell you get out of debt well you choose the rich use debt to get rich and the poor and middle class get wiped out because they’re in debt that’s because the lack of financial education and that tell you invest for long term the well-diversified portfolio stocks bonds mutual funds and ETFs the key word in there is invest for the long-term why would you invest for the long-term when they’re printing trillions of dollars and zerp zero interest rate policy they’re paying you nothing for your money and you’re gonna hold for the long term and you got HFT high-frequency trading you know that they can they can trade a thousand pieces of stock in a second and you don’t have a prayer your your you’re trading against a machine a robot so all this financial advice people are giving out there is a recipe for disaster again this is my message to anybody including Millennials is where is your head and I know most most Millennials they won the high paying job they want to be able to pay the rent and eat and all this stuff and then you dream of the big house a nice car and all that but that’s why 99% of Americans are broke because her heads are on the wrong spot so when I asked Kim it would take an accounting course it was just two days you know I wanted to see if showerhead could get into the asset column that was a difference wasn’t it yeah actually it didn’t happen right at that moment but it’s love with me but this started this started the journey on investing the start of the the journey on assets but I do remember the moment down the road where just like everybody else I was focused on the income column get a job get the pay raises if in an hourly rate wage work more hours or raise your hourly wage so I was always focused here and then finally after we’d actually bought some investment properties the light finally went on and I’m like instead of focusing on acquiring income what if we focus on just acquiring assets that the assets go into the income process so that was a huge shift in my mindset and once that shift happened for me I don’t think about the income column anymore I just think about the asset and that’s and that’s our game called cash flow yeah the first way you understand risk is you look in the mirror it’s who’s looking back at you your the risk not the investment for example I invest in a lot of real estate and said Oh real estate is so risky it’s nothing called by ETF so you play it safe but but you’ll learn more by investing in real estate right because you’ll make more mistakes yeah so that’s the difference that so it’s not real estate that’s risky yes you’re risky yeah and and sometimes it’s how you’re on it cuz I think about it like so blindly turning your money away to someone you barely know isn’t risky or let’s say I don’t know maybe just depending on this job where your employer can fire you any day isn’t risky either you know it just it makes you think a little what truly is risky for you yeah how do you define it and you look at all the pensions of the school teachers firefighters all the guys with 401ks they’re all bankrupt because Wall Street stole their money from them you know and the Federal Reserve Bank they’re run by phd’s like my port head and PhD stands for poor helpless and desperate the Fed has not been right in years thereby worships the Federal Reserve Bank the other day somebody says what I think about artificial intelligence I said oh are you talking about the Federal Reserve Bank no they’re they’re a criminal operation there that guy stealing from our pension systems there’s it’s horrible what’s going on because we have all these PhDs poor helpless and desperate people who are risk averse but let me tell you what risk is so so when you go to your banker your banker does not ask you for your report card so here’s the cash flow game and this is called a financial statement what makes the cash flow game different from monopoly which might help my rich dad taught me feel monopoly is my Rich Dad also taught me about financial statements so a cash flow is the only game with a financial statement so really simply when you look at a financial statement there’s income expense assets liabilities there’s one more thing in the cash flow game on the financial statement you’ll see it’s the most important statement of all it’s called the statement of cash flows off to the side here so if you’re going to be an entrepreneur or a capitalist you have to have one of these kind of a rich you have to have one of these but 99% of all high school students live in school and college have no idea what this is you have FICO scores you know but you don’t know what this is no so when a banker ask you for your financial statement they want to see how smart you are here so let me tell you why school makes students poor so really simply that’s this let’s say I have a master’s in hearts I don’t master of arts degree right yeah or a Bachelor of Arts degree yeah do I learn anything about income what about Greek mythology oh there you go hello everybody about income and we wonder why kids are leaving a school or a young generation looking for that high paying job but let me ask you this if you have a adi degree in technology do you learn anything about assets never so you could be a techie and you know nothing about it you could be a techie and know nothing about this you see when a banker looks at your financial statement they’re looking at the mirror of you this is a reflection of you and if you got Jack here and Jack here then you’re not that smart financially so the reason the cash flow game is such an important game it teaches you what is important to your banker or from a capitalist or for an entrepreneur is it entrepreneurs gotta know how to increase their income and an entrepreneurs gotta know how to create assets if you don’t know those two things you should not be an entrepreneur you should be an employee which is why so many young people coming out of school have massive student loan debt over here right but they don’t know anything about this and bought this here that’s risky and we always have to find outside outside resources to like find this information learn this information you know taking courses here at Rich Dad learning through your seminars and so it’s really astonishing how something that’s supposed to prepare you for the future leaves you with just the most important documents that we’re told that we need to have our resume and your report cards your transcripts button really wanna be an employee exactly but for Entrepreneurship which is what a lot of people come to us for this is where you can learn it here because in the school system you won’t you see if you’re gonna increase your income right over here you need a real teacher if you’re going to acquire assets you need real teachers what is high risk is asking people who are fake teachers like my calculus teacher and my accounting account you’ll love a comment you know anything about this no nothing did your can teach you nothing about this no that’s rescue so that’s why I wrote the book fake fake money think teachers make assets and what Wall Street is telling you to do was just give your money to them that’s risky so the reason I say only lazy people use their own money is because it takes much more intelligence to raise capital and so I’ve never been able ever since my rich death is a little boy my Rich Dad forbade me from ever saying I can’t afford it he says figure out how you can’t afford it how can you do something figure out how you can do something so over my lifetime most of the projects I have started I’ve never had any man I like not having money because it forces me to think I get creative I have to educate myself have to talk to rich guys how did you do this how did you do that how you do that and what has happened to me I mean I just turned 72 I’ve never needed money because if I need money I figure out how to raise [Music] you [Music]

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