This Is What No One Teaches You About Money (This Will Make You Rich)

You're approximately $1.2 billion in debt right now. What's going on?

Well, there's this guy named Dave Ramsey who's always saying live debt-free, and he's a friend of mine. People have me attacking him all the time. But if you understand money, money became debt in 1971 when Nixon took the dollar off the gold standard. And so most people don't know that debt becomes an asset. So like when they have a Treasury bill, a Treasury bond, that's debt. And so the poor people are trying to live debt-free, which is good advice from Dave Ramsey. If you don't know anything about debt, don't touch it. But I had to study debt. I had to study real estate. I had to study business to learn how to use debt as money. So when somebody says, I don't have money, I just borrow money. But most people borrow bad debt, and bad debt's like credit card debt. And credit card debt is debt you have to pay for. Good debt is debt that somebody else pays for it. So when Kenny and I borrow millions and billions, um, it's debt that somebody else pays for us. That's the only difference. So when Dave Ramsey says live debt-free, it's talking about bad debt, and that's good advice for most people.

Right? And I remember you said that your rich dad said you have to understand selling and real estate, so debt and taxes. Where else can someone go to level up their knowledge around debt and taxes? Because I have a lot of friends in business where they stay away from debt. They say, I don't understand debt. But at the same time, we're all talking about buying other businesses, right? I think you have to understand debt. So where else can people go?

Well, there's a— 1965, I was 18 years old. And I left school to go to school in New York. I had nominations to Naval Academy and Merchant Marine Academy. And I went to Merchant Marine Academy because they were the highest-paid graduates in the world. And my economics teacher had us read this book here, whereas most university economics people, they study Keynes and Ricardo and those guys here. So in 1965, I had to read the Communist Manifesto. And the reason I hold it up today is America's gone communist. We're now being taken over by Marxists. I don't want to call names, but, you know, they're called Kamala and Biden and those characters. Now you vote for who you want, but the other thing I learned at the Academy was that— and in the Marine Corps— What's the difference?

What?

Actions speak louder than words. Octa nonverba. So when I say that Kamala and Biden are Marxists, watch what they do. And the reason most people don't know whether they're Marxists or not— most people have never read this book here. Most academics, most college professors are hardcore commies. My family are Marxists. They're good people. But they think the way to do that— but they don't study money. They may be smart at, let's say, geometry, but they don't know anything about money. So once I understood, once I read this book, what makes a person a Marxist or communist is, number one, they believe in labor unions. Workers of the world unite. My poor dad was head of the teachers union, and today the teachers union, NEA, National Extortion Association of America. They get most of our political leaders elected. So Obama could not have been elected without the NEA. And Obama's the very guy that got us into student loan debt. I mean, they're a bunch of criminals. The other thing is abolition of private property. So what they're trying to do is take our private property away via taxation and inflation. Just watch what they do, not what they say.

Thank you.

But most people haven't read this book here. Another thing too is it talks about it's not who votes that counts, it's who counts the votes. And our elections are being stolen and people say nothing about it. But we're turning into a Marxist country right now. And we already are Marxist. And that's because most academics, like at Harvard and Yale and Princeton, full-on commies. Thank you.

Got it. Can you guys hear okay? Okay, good, great. So I want to come back to the debt thing in a moment, but what are people to do? You say we're becoming more communist, right? Well, what can we do to defend against that?

Well, number one, you better invest in your financial education. And once you know that there— taxation's a big one. So what Marx said was that For a graduated income tax is essential for the spread of communism. Let me say that again: a graduated income tax is essential for the spread of communism. Again, acta non verba, deeds not words. What was the second or third thing that Biden did? Was he hired 88,000 IRS agents to go collect more taxes? And today, I think almost 100%. of our taxes are going to pay for debt, national debt. So he has to keep hiring more and more agents and IRS agents to collect the taxes. And what's happening is the middle class is being wiped out. Guys like me don't pay taxes legally. Trump and I don't pay taxes legally because we study at, you know, this Infinite Event and we understand real estate. If you use Debt and you use real estate, you don't pay taxes.

Got it. So it goes back to what you said before from your rich dad, right? You have to understand selling, you have to understand real estate, and you have to be willing to take the risk with debt, right? And you have to understand what's going on over here too.

Well, it's how do you protect yourself.

Yeah.

Well, different things too. As my rich dad said to me, is what makes you rich are skills, not money. You know, money is, you know, money is getting more and more worthless every day.

Yeah.

So I had to study the history of money. But the number one skill of an entrepreneur is, can you sell?

Right.

And when I went home, that was my rich dad said that. So I went home, I came out of the Marine Corps, I flew gunships in Vietnam, went down 3 times. So I come back in and my poor dad says, oh, go fly for United Airlines or Hawaiian Airlines. And my rich dad said, learn how to sell. So I had to go home to my poor dad, a Marxist. Good man, a very good man. You know, he was Peace Corps, I was Marine Corps. That's, that's the difference. So anyway, I go home to my poor dad and I said, I'm not going to become an airline pilot, I'm going to work for Xerox to learn how to sell. And you talk to most academic types, salesmen are scum. So it's a cultural buildup. He says, oh, I'm so disappointed. Why didn't you fly for the airlines? I said, I've been flying for 6 years. Why do I want to fly any longer? Oh, but it's, you know, so poor people work for money, as I said in Rich Dad Poor Dad.

Right.

And the rich make their own money up. We're capitalists.

Yeah.

There's one more thing about selling that most people don't know. And the E, S, B, and the I, you know, E is employee, S stands for self-employed, small business, Our school's program has to be E's and S's. On the B and the I side is the capitalist side, so that's the cash flow quadrant. And B stands for big business, but it also stands for brand. So the average entrepreneur goes out there and they work hard and they promote and all this, but they never build a brand. So why is a brand so important? It's because Warren Buffett only invests in a brand. He invests in Coca-Cola, Coca-Cola. See's. You know, Gillette. Yeah, whatever. He was investing in Apple. Yeah, but the average entrepreneur, if you really want to be rich, build a brand. So Rich Dad became an international brand. But if I hadn't taken those initials, you know, working for Xerox to learn how to sell, it wouldn't be a brand today. So what is a brand worth? Lots.

So you're saying you got to learn how to sell, you have to learn, you have to learn how to buy real estate, right? You have to learn how to take on debt, and also you have to build a brand nowadays.

Well, it's a lot you have to learn. Yeah, the average person will never build a brand. Why? They don't fucking study. So I studied branding. How did you do this? How do you do that? How do you do this? I studied real estate because Real estate's the easiest thing to borrow money for, and the average stupid MF out there has got their 401, and they're the source of funds. I don't want to be anybody's source of funds. You have a 401 or an IRA or an RRSP in Canada, you're the sucker.

Right.

You know, as who said that, if you're sitting at the table for more than 20 minutes, Card game and you don't know who the sucker is, you're the sucker. So if you're sitting there with a 401, an IRA full of stocks, bonds, mutual funds, and ETFs, you're the sucker.

Right. I got to take a minute to tell you about the Agency Owners Association.

This is a peer group for agency owners. Think YPO or EO, but for agency owners. And I just wanted to read you a couple of testimonials.

So this first one comes from Carrie, and we asked her, what do you like most about the group?

She said, Having a group of people to discuss and bounce ideas. The leads are great too. Yes, we share leads in this group as well.

This one from Aliyan, he says, the ability to really post whatever I want and need and the group responds. Great experienced members.

Getting a lot of insights from conversations with other members. Getting a lot of value from sessions from Eric. Getting advice from others as well. And so if you want to grow your agency faster and you want a peer group to do so, just go to marketingschool.io/agency. This is a group that both Neil and I created, and our hope here is to create a vibrant community of agency owners and do a lot more with it in the future. So again, marketingschool.io/agency, and we'll see you inside.

There's a couple friends, they raised money for their funds, right? I think people want to get to the level where they can raise a bunch of money like you have or raise a bunch of debt. Can you hear me okay? Yeah. So how does someone level up? Because you have a You're a lot in debt right now, and you've bought a lot of real estate, right? So how do people continue to level up their skills? Because I have some friends, they're doing hundreds of millions a year in revenue, but they're still afraid of debt, right? They want to, they want to learn from someone like you on how to master debt.

Well, I think the biggest problem for most people is they went to school. You know, when you look at what school taught, teaches you, what you come away with, number one is don't make mistakes. So you think about that. A human being only learns by making mistakes. So, you know, a little baby's learning how to walk, stands up, it falls down. The teacher goes, you stupid, stupid, stupid, you can't walk.

Yeah.

And the kid never walks then. And the second stupid thing that academics, these communists do is that they tell you don't cheat. Now, what's the definition of cheating? The definition of cheating is aiding in school. Look up in the teacher's manual. Cheating is giving aid to somebody in need. That's called being a human being. But these stupid MFing professors, they don't cheat because they know all the answers, which keeps them trapped in the E quadrant.

Right.

And if they don't have their paycheck or their tenure or their pension, they're just as stupid as that kid who can't walk.

Right, makes sense. We have limited time, so I do want to jump into— look, there's a lot of stuff going on with the world right now. We're talking AI, we're talking robotics, cryptocurrency, and you have this book over here and it says GPT at the end of it. So do you want to talk about this book? And I want to explore the future and how you're thinking about the future.

Well, there's a lot of people— the reason I like coming to this event with Ken McElroy and Limitless and George Gammon and those guys is People are active learners. I mean, all these guys here have come to learn. They're about 1/10 of 1% of the population. 99.99% of the people would never be sitting there. First of all, they wouldn't take the time and they wouldn't spend the money. So a person is rich or poor by what they spend time and money on. So I'm studying this all the time. What are you studying? This book is not out yet, but this guy James Rickards is a good friend of mine. When I look for people who know what they're doing, I talk— I call this guy here. So he sent me this book here. It's an uncorrected proof, limited edition. So I'm one of the, you know, myself and Kenny got advanced copies so we could read and give him feedback on it.

Yeah. Well, GPT You gotta talk a little closer.

GPT stands for Generated Pre-trained Transformer. He says some things in here that are so terrifying. And his opening words to me when he signed it to me, he goes, somewhere in here, he says, Robert, one more thing to worry about here. So he says some things here like the biggest banking collapse already happened and we don't even know about it. They call it Silicon Valley Bank. It was the biggest banking collapse in world history, but nobody talks about— oh, talk about 2008, but Silicon Valley Bank was the biggest. What else Rickards says is this: there's a difference between a market collapse and a banking collapse. A market collapse you can see. We all know when the stock market crashes, but you can't see a banking collapse. So what he's saying here, the banks are collapsing and we don't see it coming.

Yeah.

So that's the reason I study and all this. He's talking about, um, he says robots cannot be tamed. Once a robot goes loose, You can't tame it. You can't stop it. So he's running all the scenarios in here about what's going to happen in the future. And the purpose of it is to prepare for it. So that's why I have gold, silver, Bitcoin. I'm an entrepreneur. My money's outside the banking system. My gold, my gold is stored in not Switzerland, but Liechtenstein. And I just don't trust my government.

Why Liechtenstein? Huh? Why Liechtenstein? I don't know.

One of the safest countries in the world.

I just don't know.

Everybody says Switzerland, but the Swiss hide their money in Liechtenstein. Got it.

Got it. So, okay. I mean, you mentioned some of the implications here with AI are, you know, one thing you can do to protect yourself for the future is you own your assets, you store your assets safely. What are some other implications that investors should be thinking about?

Well, that's what you have to study is because, as you know, Where every action is opposite reaction, so that everybody's chasing what, um, ChatGPT— what are they chasing right now? Oh, Nvidia or something.

Nvidia, the stock?

That's a big bubble. Yeah, huge bubble, you know. And all the idiots jump in there and they chase this bubble, which is fine if you get out in time, but there's a big market crash coming. It's going to take down gold. So it's going to take everything down, huge crash coming. I think we're in it right now. And it's going to wipe everything out anyway, but that's when you go back in. So, you know, if let's say Walmart was having a sale, every loser in town would be out there. But when the stock market has a sale or the real estate market has a sale, all the losers run away.

I'm curious, Robert. What does your asset allocation look like right now?

I have no idea. I talked about it yesterday. I don't have any stocks except the stocks I created. So, I'm a capitalist.

Your companies?

BNDI. I create my own assets. If you're buying stocks, you're the sucker at the table. If you're selling stocks, you're the capitalist. So, I'm a selling I sell stocks, but they're my companies.

I love it. Can we talk about the business of Rich Dad Poor Dad? I don't think a lot of people ask you about it. I'm just curious. So Rich Dad Poor Dad, how is that all structured? Because you have the books, you have the games, you have a lot of stuff going on there. So can you talk more about the business?

Yeah, I built a brand. I'm in financial education, and Rich Dad is a brand in financial education. Most people don't have brands. Brands. And a brand is worth billions. But I studied branding. You know, the first branding book I read was by Trout and Reese. You know, so I just started reading and studying and all this. But like I said, very few people are these people here. These are the top 1/10 of 1% of the world population. All the intelligent people are at home watching CNBC or something.

And so can we talk about then, I mean, so my friend Steve had a question for you. So he says, look, it's really easy for, let's say, a 19-year-old to look at your content and say, man, this guy might be a doomer or a pessimist, right? What are some examples from the last 100 years that you can share that show you formed a perspective on investing, and why should they believe your perspectives? So he's—

I'm really having a hard time hearing So, I'll simplify it.

My friend's trying to advocate for maybe a 19-year-old that might be a little skeptical of your content, right? He's saying, why should a 19-year-old believe what you have to say around investing? So, what are some, you know—

What advice would I give a 19-year-old?

You can just use that. That's fine.

Who are your friends?

Yeah.

You know, there's an old saying that goes, who's your closest 5 friends? That's your future.

Yeah.

And most people have poor people or school teachers as friends, or losers. And they're nice people, but most of my classmates when I graduated from high school, they're all drug dealers now. And they wonder why I don't want to hang out with them. It's because I don't, I don't do drugs. I've never done drugs. I don't like it. But they're all druggies. I just away from anybody like that. And anybody who's cheating, lying, or stealing, I stay away from them. You know, it's collateral damage. If the police raid you, you're just as guilty by association with people. So that's why I just— I say to young people, your friends are crucial.

Yeah.

So that's why my friends are rich people like Kenny McElroy, a rich man. I hate to say this, I don't hang out with poor people. They're called my family. No, but they're really happy. They go, oh, but I have no money and I'm happy. I said, why isn't that guy, don't worry, be happy, or someday you'll own nothing and you'll be happy?

Yeah.

Well, they've been brainwashed by these guys here.

Yeah.

The World Economic Forum and all that.

Yeah.

There's a lot of poor people who are very happy being poor.

Yeah.

Because the government will give them money.

Yeah. You know, I talked to Ken yesterday on stage and I asked him, so what are your priorities right now? And he said 15 years ago, maybe business was the top priority, then the kids, then the spouse. He says he's flipped it. Now it's the spouse first, then it's the kids, then it's the business. And I'm curious, I mean, you're at a different stage of life right now. What are your priorities? What's number 1, 2, 3 for you?

Well, again, there's E, S, B, and the I. I have my Cashflow board game. Most people are stuck in the rat race, you know, because they went to school, they got the college degree. My family is so proud. Oh, my daughter's got a master's degree. She's broke. Yeah, student loan debt. I mean, Obama brought that in. Study that stuff. Obama screwed so many people because he's a Democrat. Well, he's a Marxist. But student loan debt was pushed by the Obama administration. So it's hard for people to get out of that rat race because they're paying off all that debt. But on the fast track is where the big deals are played. So the job of the Cashflow board game is for people to play the game and say, well, how do I get onto the fast track? How do I get bigger? How do I learn more? And that's why the game was created. So I just create businesses that open people's minds up. Look at what Kenny McElroy's done here. This started off as a small little business. Now it's a major business.

Right. So your priority right now, just to be clear, number one is business, right?

What's that?

Your priority number one is business.

Well, then I have goals. Okay. So my first— people buy stocks. I sell stocks. Sell stocks. A capitalist sells stocks. Suckers buy stock. Not really, but you know I'm just being mean as I can be.

Yeah.

Oh, I had some stocks. Big deal, you know. So my goal was, can I take companies public on the stock markets? So my first stock market was a Toronto Stock Exchange. So I listed in 2004. was a gold mine in China, and I was happy. I was a billionaire for a little while, you know, but I don't trust Chinese people. You're Chinese, huh? You Chinese?

I'm Taiwanese.

Yeah, well, you gotta watch out for the Chinese, man. Well, now, Japanese, Chinese, and Koreans are very different people. Very, very different. I grew up in Hawaii, you know.

You don't—

they say when you shook hands You dance with a Chinaman, you count your fingers. So I listed on the Toronto Stock Exchange in 2004. We put $27 million into it. We did our drillings and all this. We struck gold, the biggest gold mine in China. And what did the Chinese government say?

It's ours.

Thank you very much. And that's why you read this book again. I Should Have known better, is the abolition of private property. So I lost that gold mine. And there's a picture of Ken and I here. We finally listed on the New York Stock Exchange as the biggest gold mine in America.

Yeah.

And then my next, my next listing will be on NASDAQ. And it's a tree project. I'm a tree hugger. So what we're setting up is to pay people money not to cut their So we can make a lot of money doing that by selling offshore tax credits for that. So that's capitalism. So, so my next listing will be NASDAQ.

Makes sense. Well, I hope it all works out and we can all invest.

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So you talked about having a— I mean, you're basically paraphrasing, you are the average of the 5 people that you hang out with and ideally you're hanging out with people that are as successful or more successful than you, right? So Kenny and I were lucky that we're both in YPO and there's an entire network like that. But how do people go about finding a rich friend network? group if they don't have a rich friend group right now?

Well, study rich people. You know, like Warren Buffett's a rich man, but he buys stocks and he sells stocks. That's an S. A B actually builds the company and builds a brand. Elon Musk. So you study the kind of entrepreneur you want to And so that's what I study. So that's why Trump's my friend. Trump is a brand.

I wanted to talk about that because you brought up Biden, you brought up Kamala. Can you tell us about Trump as your friend?

He's a very, very good man. Unfortunately, he has the same problem I do— open mouth, insert foot. And no, he's a very honest man. But that's dangerous today, as you guys know. You know, you gotta— oh, you hurt my feelings. I said, well, this is going to hurt your feelings even more. Yeah. But the other thing I want to say is I'm very concerned about men today.

About men today?

Yeah, they're called pussies. Now, when you talk to most women today, women are kicking men's asses. They're making more money than more men. And they wear the pants and men are wearing tampons. You know what I mean? It's shocking. It's shocking. These guys come up to me. I don't know if they're trying to talk to me or proposition me.

So Robert, there's actually a quote on this. So it's the rise of the masculine men and the feminine women versus the feminine men and the masculine women. What do you think about that?

What was that again?

So it's the rise of the masculine men and the feminine women versus the feminine men and the masculine women.

Well, I hate to say this, but when women start wearing tattoos, they're copying men. I'm not— you US Marine, I don't have a tat on my body. You know, I would get drunk. I was in the Philippines and I'd go and get drunk and say, okay, I'm going to get a tattoo. But I always chickened out because it's too permanent. So one night we had these English sailors, this is during Vietnam, we took these English sailors out and we got them drunk as hell. We took them to the same tattoo parlor, took off their shirts, And on these English, these limey sailors' chests, we put God Bless America on it. So ever since then, I stay away from tattoo parlors.

That's scary. Robert, I want to switch gears here because we only have a couple minutes left. Can you tell us maybe one thing you changed your mind on in the last 12 months? What's one thing you changed your mind on in the last 12 months? What did you change in your life over the last 20 years?

Not too much. I mean, what I have changed is I've never been political, but right now as we speak, I'm releasing my first political ad. So let me just say this, because I study money and I went to school for oil. I'm an oil tanker driver. My first job was Standard Oil of California. I drove tankers all over the world. were oil tankers. And when Biden came to office, I was pretty not political. I don't like the guy, but, you know, Hunter Biden, the FBI loses his laptop.

Yeah.

Oh man, if that's not corruption, give me a break here. So anyway, Biden comes to office, the first thing he does, he cut the Keystone XL pipeline. I'm an oil man. I sell oil up and down that pipeline. And so when Trump was president, I was selling oil at $30 a barrel. When Biden cut that pipeline, oil went from $30 a barrel to $130 a barrel. I knew exactly what he was doing. Again, deeds, not words. He was crushing the American middle class and the middle class throughout the world, because when you cut energy or oil especially, Everything goes up in price. And he's over there saying, oh, and so now Kamala's blaming the rich and she wants to tax them, all that. Well, those are the guys that cut the pipeline off. So Trump says, drill, baby, drill, you know, because we have a lot of oil. But the environmentalists are saying, cut it out. So watch what a person does. When Biden cut that pipeline, inflation went through the roof. And then he starts to print money. For all this stuff. So this is the rule with fake money, which is important. When you print money, the rich get richer. So what happens is when Biden prints money, my real estate goes up in value, my oil goes up in value. I have coal mines, I have silver mines, they go up in value. But so does food go up in price. We don't have to have this inflation. But the reason they do it goes back to this book here again. The Wealth of Nations. Again, if they've got to crush the middle class so that there's civil war. And that's why my concern is all small wars become big wars. And we're on the verge right now, big, big war, Hamas and Ukraine and China.

Right.

And that's what happens when you have a weak leader. Jordan Peterson is a great teacher. He says, if you think strongmen are dangerous. Watch the damage a weak leader will do. And the weak leader was Biden. So I'm not saying vote for him or not, but that's when I became politically active.

Yeah.

So next week, my first political ad pops up in Arizona, and I'm supporting Kari Lake for Senate. I never support anybody. So, so this is the hard part, you guys. I had to go after fellow Marine. So Ruben Gallego is a congressman. You know, he's a Democratic congressman from Arizona, and he's running against Kari Lake for Senate. And I wasn't going to say anything. So I called my roommate from when I flew off of carriers in Vietnam.

Right.

And my roommate from the— in the Marine Corps became a 3-star general. And today he's His name is Jack Bergman from Northern Michigan. He's a House representative. I called Jack and I said, should I go after Ruben Gallego? Jack, my good friend, says, go after him. I'm putting not only my ass on the line, but I'm taking on a fellow Marine. I said, you're supposed to protect our borders, not open them.

Yeah.

Again, action speaks louder than words.

Yeah.

So, this starts next week in Arizona, and it's dangerous. You know, politics is a dirty, dirty, dirty sport.

Yeah. Well, thank you for all the perspective. I could go all day. I have a bunch of other questions, but we're actually out of time now. So, Ken, what's the best way for people to find you online, for the people listening?

I can't hear a word you say right now. Find me?

Yeah.

richdad.com, I guess.

There you go. Perfect. All right, everyone, Robert Kiyosaki.

And, and, and there's only a very few people like you who will spend time. Time is the most expensive than money, and that's the problem, because they think a college degree is more important than what you're doing here. And it was one of the biggest fights I had with my poor dad Was I would go to seminars. And he wanted me to go back to University of Hawaii, get my PhD. And I said, PhD stands for poor, helpless, and desperate. Why would I get a PhD? You don't learn anything about money. And you're more needy because you have to have a job. So I had to make a decision. So my rich dad says, go do seminars, which I started to do in 1974. I took real estate seminars and all this stuff so I could become a capitalist. That's the reason. So that's why you guys are here, and I, I applaud you all for being part of the Limitless event. So thank you.

Yay!