Motivation Daily by Motiversity - Poverty Is Not An Accident - The Untold Truth About Building Wealth (Robert Kiyosaki)

Episode Date: April 3, 2023

Robert Kiyosaki broke the internet with this life changing speech. They don't want you to see this! This is why the poor stay poor and the rich get richer!Speaker:Robert KiyosakiMusic:Epidemic Sound Hosted on Acast. See acast.com/privacy for more information.

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The link is in the description. Poverty hurts. I mean, I don't like it. And I don't like that our academic system is so corrupt. So it's one of the most important messages I have for entrepreneurs is that failure should inspire you to get smarter. Don't let failure ever stop you. You know, use your brain, use your creativity.

And unfortunately, our school system says if you fail, you're stupid. That is not true. So the lesson to young people is don't take a job for the money, take a job for what you're learning. In school, they compensate for risk by telling you to memorize the right answer. So in other words, these kids leave young people like you, leave school thinking, oh, if I know the right answers, then there's no risk. And it drives old guys like me crazy. You know, we learn from our mistakes. Mistakes are opportunities to get smarter, be humble, and take a look at something.

You know, millennials are the most highly educated. They know all the answers, but they're afraid of doing anything. Robert Kiyosaki is a renowned author, investor, and entrepreneur who became famous for his best-selling book, Rich Dad, Poor Dad. In the book, Kiyosaki talks about his own experiences growing up with two dads, his real dad, a highly educated college professor, the other, his best friend's dad, a self-made millionaire and entrepreneur. Robert noticed that despite his father's hard work and dedication to his job,

he struggled financially and was not able to provide the kind of life he wanted for his family. On the other hand, rich dad, who never finished college, was able to build a successful business and accumulate significant wealth. Success doesn't come easily, especially when the education system fails to teach the fundamentals of business and money. However, you have two choices. Use that as an excuse and remain uneducated, or rewire your brain, be open to new information, and learn how to be successful. You know, the most important thing is change the neural pathways in your brain. And the brain is driven by your heart. And when I meet somebody with an employee's brain, they say, I want job security.

I want a good pension. Do that? Does that have medical benefits? That's our brain. I can't help them. They've got to rewire the brain, yeah? Because the economy takes place between this year and this year. That's where the economy takes place.

and in your heart and in your guts. I started playing monopoly. I was nine years old. Everybody's played monopoly, except by playing in real life. Four greenhouses, one red hotel, tax-free. If you're really going to learn to be rich, you have to learn how to sell,

how to use debt, and how not to pay taxes. That's the game. Kiyosaki realized that there's a gap between the rich and the poor, and that traditional education and employment do not necessarily lead to financial freedom. What does the school?

system teach about money? Nothing. Our current education system is outdated and fails to focus on topics that would prove much more beneficial to students. While finances and taxes may not be as entertaining as chemistry or biology, having such knowledge would better serve most students as they move into adulthood. Today in the world, America especially, is a gap between the rich and everybody else. And I know the game of the rich. You know, my rich dad taught me, you know, because you're the banker. The game, the bankers and the rich play is different than what they teach you in school.

And that's the story of rich dad, poor dad. You know, my poor dad, PhD, students stands for poor, helpless and desperate. They don't know anything about money. And they're teaching our kids. And my rich dad was an entrepreneur who never finished school. The pieces of a puzzle and my life started to come together. Question I ask all over the world, what the school teach you about money?

And the answer is nothing. And that's not a mistake. That's not an accident. I knew that. Most people know that. But the way to keep the poor middle class working hard is never teach them what the rich know. So if you read Rich Dad Poor Dad, which came out in 1997, it's what the rich teach their kids about money, the poor middle class do not. Many of us who have not learned about money likely share one common belief.

Debt is bad and dangerous and should be avoided. There are countless stories of people who have run up their credit cards to the point that they cannot pay them off. Many people accumulate student loan debt as they try to gain in education. These people then spend much of their life desperately fighting and trying to dig themselves out of debt. However, there is good debt and bad debt. It can be a powerful tool for those who understand how to use it. Debt is a four-letter word for most people. There are many people in my position, so-called financial gurus, who say live totally debt-free.

And there's other people who say, cut up your credit cards. And that's good advice for certain types of people. So you should definitely cut up your credit cards if you don't know, you can't control your spending. Income, expense, asset, liability. So debt falls in here. You know, everybody says, I'm going to buy a house. And I says my house is an asset.

That's not true. Your house is a liability. I don't care if you have no debt on it or not. A house is a liability. Same as if you have a car. A car is a liability. The average person, they have a job. Money comes in here.

They pay for their house. And the money goes to a bank. mortgage so it's not an asset because the cash is flowing flowing out so it's a liability so the definition of liability does it take money from your pocket and for an asset does it put money in your pocket so when I have a rental property here it puts money in my pocket when I rent a property I've done a good job buying it and structuring it every month it sends me money and the other thing about

there's good debt and bad debt, which I classify student loan debt as bad debt. The main reason is bad debt is because it's the worst possible type of debt. You see if I get into trouble as a businessman with debt, I can declare bankruptcy and I'm clean. But the trouble with student loan debt, you can't do that. You know, it hangs around your neck for the rest of your life. So what most people do is they have student loan debt as a student loan debt as a student loan debt. sell and that debt is going out this way. You know, it doesn't put any money in your pocket.

You can say, well, I have a job, well, that's still you working for it. I don't work for any of this money here. I do this job once, set the deal up. Every year I add more and more and more of it. I'm borrowing money from here. It's coming here and going this way. So the debt is putting money in my pocket and bad debt is taking money from my pocket.

So the problem is if you're going to use debt, you've got to be much smarter than this person here. Because you buy a piece of real estate and you make a mistake, this turns into a liability. If I get the renter leaves the place, this goes here that fast. And the cash flows that way. So it's nothing to do whether it's a boat, student loan debt, a house, a car, or whatever. it has to do with these two words here. If the cash is flowing into your income statement, into your pocket, it's an asset. It's good debt.

But if it's taking money from your pocket, it's bad debt. A catalyst for success is to find a mentor in your area, someone who has done what you want to do, someone who is where you want to be. Years of experience and countless failures make them seasoned veterans and excellent teachers. They won't do the work for you, But having someone to support and guide you will accelerate your progress towards achieving your goals. And she says, if you're going to be a successful in your life, you've got to find the best teachers. And so with that, when my poor dad said, go seek out your rich dad, I was just following her advice.

And today, that's why you and I know Jim Rickards and Nomi Prins and all these people. They're the guys that actually came from the inside, just like you, from the inside the inside, machine and they know what's going on and they tell the world what's going on. So I've had a habit ever since then or a policy if I find out there's a great teacher and a great teacher is somebody who comes from the inside, not the outside. It's true. Money makes the world work. Whether you have entrepreneurial aspirations or not, financial literacy is an important subject that everyone should learn. We hope you don't feel like a financial education is unobtainable just because the school system,

neglects it. Search out financial knowledge on your own. Read books. Look for YouTube videos. The resources are out there. Dedicate yourself to learning about money now and your future self will thank you.