Robert Kiyosaki, the renowned author of the book Rich Dad Poor Dad, shares his personal experiences and knowledge about finance, economy, gold, taxes, and intellectual property assets. As a financial education advocate and successful investor, Kiyosaki emphasizes the importance of investments for entrepreneurs to achieve financial freedom.
In an interview, the renowned investor shares his insights on entrepreneurship, macroeconomics, and finance through entertaining stories that offer valuable business lessons and are easy for the average person to understand. Kiyosaki also reveals the secret strategies he has used for many years to achieve success, emphasizing the importance of financial education for any aspiring investor or business owner.
GREAT NEWS? Rumors say FED may buy $1.5 trillion in STUDENT LOAN DEBT. BAD NEWS: Taxpayers and unborn will pay. WHY? Currency War. FAKE US $ too strong. FED breaks laws needing to find ways to weaken FAKE $. Students win. We all lose. Desperate Fed now criminal organization.
— Robert Kiyosaki (@theRealKiyosaki) May 10, 2020
If you're interested in personal finance, gold, silver, bitcoin, inflation, increasing your financial freedom, reading books on business and becoming rich, then this is a must-read interview. Enjoy!
The Story Behind Rich Dad Poor Dad
Robert Kiyosaki, author of the bestselling book Rich Dad Poor Dad, had a difficult educational journey. However, he turned his life around by starting his own company and conducting seminars.
He failed high school twice due to his struggle with writing and a teacher who didn't appreciate his work. However, after attending rich seminars organized by a company, he was able to improve his skills and excel in writing.
Despite his father being a Ph.D. from prestigious universities, Robert felt like his middle name was “stupid.” He often attended rich company seminars hoping to change his mindset.
He joined the Marine Corps to gain discipline and attended seminars to become rich.
He was accepted into both the United States Naval Academy and the United States Merchant Marine Academy but chose the latter for its rich high-paying career opportunities and potential for surfing in Tahiti. He also attended seminars to further enhance his skills.
After graduating, he worked for Standard Oil but felt compelled to join the Marine Corps during the rich Vietnam War.
It was during his time in the military that he became interested in macroeconomics, gold, and building wealth.
Robert's experiences in life led him to write Rich Dad Poor Dad, which was initially rejected by publishers but later became a bestseller.
Why did Robert Kiyosaki write Rich Dad's Prophecy?
Robert Kiyosaki wrote the book “Rich Dad's Prophecy” in 1999 while he was in Thailand during the Thai Baht crash.
He predicted the trend of fiat money being printed excessively since 1971, leading to people becoming poorer and the rich becoming richer due to booms, busts, and bubbles.
The book warned about the biggest stock market crash in history coming in 2000, which was the dot-com crash. Kiyosaki believed that people could prepare and profit from it, becoming rich.
His prophecy turned out to be true with subsequent crashes like the subprime crash and the March 2020 Dow crash.
Experiencing Stagflation in the 1970s: A Look into Robert Kiyosaki's Past
Living through the stagflation of the 1970s gave Robert Kiyosaki a unique perspective that many younger investors today may not fully understand.
While some may believe that inflation could never happen in the United States, Kiyosaki has seen firsthand the impact of high annual price increases.
When asked if he has seen similar price increases in recent years, Kiyosaki notes that there have been changes since the 70s, but the impact of rising prices is still very real for many people.
Why couldn't Jerome Powell increase interest rates without causing a financial crash?
The economy is flawed, according to the point made in Robert Kiyosaki's book. It's too delicate and no longer based on the economy.
We have financialized everything to the point where the tail is now wagging the dog. Robert Kiyosaki saw hyperinflation in the stock, real estate, and bond markets.
It was evident all over the market, but the average person couldn't see it. Mr. and Mrs. Walmart shopper were content with buying low-priced goods from China, while China bought our bonds.
Did people notice inflation more when shopping at Walmart, Target, or K-Mart in the 1970s?
Robert Kiyosaki and George Gammon discussed the rapid changes in the economy, particularly in relation to inflation.
Kiyosaki shared his experience living in Honolulu, where the price of food changed daily, causing restaurant menus to be updated with new prices.
He believes that the current generation has not experienced such inflation and warns that it is coming, possibly leading to hyperinflation. Kiyosaki uses surfing as a metaphor to explain how the economy works, stating that the current situation is like a third wave that has already cleaned out many people.
He also mentions his prediction of the stock market crash in 2008 and how he saw it coming.
Kiyosaki praises Rebel Capitalist George Gammon for explaining the internal mechanisms of the economy to the public, which he believes most people are not paying attention to.
Kiyosaki concludes by stating that even successful businessmen may not understand the economy and its complexities.
Inflation And The U.S. Political Narrative
In the coming years, the political landscape in the United States may shift dramatically.
If the country decides to stop relying on China to produce goods like medical masks and pharmaceuticals, it could lead to a breakdown of global supply chains.
While some people may view this as a positive development, it could also result in higher prices for consumer goods.
Additionally, if the Federal Reserve continues to provide “helicopter money,” increased domestic production and inflation could have significant economic implications.
Overall, it remains to be seen how these changes will affect the country in the long term.
Who Stole My Pension?
Robert Kiyosaki talks about his book “Who Stole My Pension” in a conversation with George Gammon. Kiyosaki shares his personal story of returning from Vietnam in 1973 to find his father unemployed without a job, paycheck, or pension.
He reflects on how he saw the future and decided to become an entrepreneur instead of pursuing high-paying jobs.
Kiyosaki believes the future is bright for entrepreneurs, especially with the power of technology like cell phones.
He criticizes schools for not providing financial education and instead promoting the idea of getting a job, saving money, getting out of debt, and investing in the stock market, which he believes leads to financial struggles for young people.
The Pension Funds
The discussion between George Gammon and Robert Kiyosaki revolved around the underfunded pension funds and the retirement crisis.
Due to the low funding, pension funds are compelled to invest in riskier assets, such as junk bonds and private equity, to meet their liabilities.
Kiyosaki pointed out that the end of the defined benefit pension plan in the 70s led to the introduction of 401k, IRA, and SEP, which shifted the responsibility of retirement savings to individuals.
As a result, the pension crisis is not just limited to the baby boomer generation but will also affect the younger generation.
Social Security and Medicare are also expected to go bust due to the rising healthcare costs and the pay-as-you-go scheme, which relies on younger workers to contribute for the older generation.
Kiyosaki suggested that gold and bitcoin could be the best investment options in the current scenario, as the governments are likely to print more money, leading to hyperinflation.
The American government may target individuals who possess valuable resources, such as homeowners, producers, and those with cash-flowing businesses, for taxation purposes.
This is a concern raised by George Gammon during a conversation with Robert Kiyosaki, who has taken measures to minimize his own taxes.
Kiyosaki predicts that real estate taxes will increase, along with the implementation of rent control, which may limit opportunities for individuals like Gammon and himself.
Intellectual Property Assets
George Gammon and Robert Kiyosaki discussed the idea of viewing a book as an asset that generates cash flow, rather than just a one-time success story.
Kiyosaki believes that if people can change their mindset and view the internet and their cell phones as vehicles for creating assets that produce cash flow, they can achieve similar success to that of Rich Dad Poor Dad.
Gammon asked Kiyosaki to speak on what he would do if he were a young person today creating an asset.
Is it easier to make money from online content now than in the '90s?
Robert Kiyosaki, a successful entrepreneur, shares his thoughts on how easy it is to make money on YouTube.
Despite his lack of technological skills, he earns around $25,000 a month on the platform by simply sharing his knowledge.
Kiyosaki believes that YouTube is a great platform for teaching and attracting people from all over the world. He compares the choice between watching
The Kardashians and educational content as a matter of personal preference. Kiyosaki's top assets are his intellectual property, which he leverages to earn income from book sales and licensing deals.
He also uses the cash flow generated from his intellectual property to invest in real estate, leveraging debt to increase his depreciable basis and minimize taxes.
Robert Kiyosaki, an entrepreneur and author of the book “Rich Dad Poor Dad,” was asked by George Gammon what motivates him to keep going. Kiyosaki replied that it's like a game, and he loves it.
He compared it to golf, which his wife enjoys, and rugby, which he enjoys. He believes that if you don't love the game, you shouldn't play it. Kiyosaki invests only in what he loves, such as properties and oil wells.
He finds it fun and exciting. He thinks that there are a million ways to financial heaven and a billion ways to financial hell, and people should figure out which way they want to go.
He believes that there's more opportunity today to get on the right path financially, such as starting a website, YouTube channel, or podcast. Kiyosaki emphasized the importance of learning and having a great team to study together.
He mentioned that he and his team are always learning together, and they want the same things for their customers.
He believes that an anti-fragile person gets smarter and better no matter how much pressure they face, and that's the entrepreneur.
Robert Kiyosaki, a veteran and successful author, believes in having an anti-fragile mentality.
He learned this from his time in the Marine Corps, where he was taught the importance of mission, duty, honor, code, and respect.
Kiyosaki believes that society has lost sight of these spiritual values, which has made people more fragile.
He thinks it's important to be respectful and not gossip behind people's backs. Kiyosaki also believes that the spirit is just as important as the mind, body, and emotions.
He and his wife Kim talk about metaphysical and spiritual things. Kiyosaki thinks that people who are anti-fragile will thrive during trigger events, while fragile people will break down.
He believes that people have a choice to move forward or become fragile in difficult situations.
Kiyosaki's Teaching Resources
Robert Kiyosaki, the author of Rich Dad Poor Dad, created a board game called Cash Flow to teach people about managing their finances.
He believes that if you don't control your cash flow, you will be in trouble because money is always going somewhere.
Kiyosaki learned how to be rich by playing Monopoly, and he now owns thousands of red and greenhouses.
He thinks that learning about money is a serious game, and if people don't want to learn, then he doesn't know what else to say.
Kiyosaki recommends his website and podcast as resources for people who want to learn more about entrepreneurship, mindset, and macroeconomics.
He believes that now is the time to look at oneself and learn from mistakes because life is lesson after lesson.
Kiyosaki credits his wife for keeping him on track and running his business.
He encourages people to find the student in themselves and to share what they learn.
Robert Kiyosaki FAQ
How did robert kiyosaki have two dads?
In his book “Rich Dad Poor Dad,” Robert Kiyosaki talks about the two dads who had a significant impact on his life.
One was his biological father, who was highly educated and held a stable job as a government employee.
The other was his best friend's father, who was an entrepreneur and a high school dropout.
Kiyosaki learned valuable lessons from both of these men. From his biological father, he learned the importance of education and job security.
However, he also realized that despite having a stable job, his father struggled financially.
On the other hand, from his friend's father, he learned about the world of business and finance.
He taught Kiyosaki how to make money work for him instead of working for money.
These two contrasting perspectives helped shape Kiyosaki's views on wealth and success.
He believes that financial education is crucial to achieving financial freedom and that one should not rely solely on a traditional job for income.
How did robert kiyosaki become rich?
Robert Kiyosaki is a well-known entrepreneur and author who is famous for his book, “Rich Dad Poor Dad.”
He became a rich and wealthy entrepreneur by following the principles outlined in his book.
Kiyosaki's financial success started when he was in his 20s and he began investing in real estate.
He learned from his “rich dad,” who was actually the father of his best friend, how to invest in assets that generate cash flow. Instead of working for money, Kiyosaki learned to make money work for him.
This philosophy allowed him to create a portfolio of investments that generated passive income, which eventually made him financially independent. Kiyosaki also started several successful businesses, including a nylon and Velcro wallet company, which he sold for millions of dollars.
He attributes his financial success to his ability to take calculated risks, learn from his mistakes, and never stop educating himself about personal finance and investing.