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robert kiyosaki is back with us he is
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the author of
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why the rich are getting richer robert
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this is a question that has rocked
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political campaigns for decades
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what is the answer well
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debt and taxes for a young man like you
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will be your largest single expense
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you see but for a rich person with
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financial education
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debt and taxes will be my largest source
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of income
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it's so opposite of what everybody
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teaches you so that's why i wrote why
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the rich are getting richer
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because it's really not fair you'll work
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very very hard
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and debt and taxes will eat you alive or
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a guy like me because i had a rich dad
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and like president trump taxes make us
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richer
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it's it's opposite so how do i get to
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your end of the spectrum is it largely
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through investing in real estate
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well first of all it's an education
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there's many ways you can do it
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i primarily do it via what i call the
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mcdonald's formula
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if you you know there's a movie founder
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with uh
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michael keaton he said mcdonald's
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business
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is real estate it's not hamburgers it's
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real estate
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and so my business the rich dad company
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is real estate
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and that's why i use debt and i use
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taxes to acquire large sum
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large tracts of real estate and pay no
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taxes legally legally
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it's a very interesting discussion as
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the government looks to put forth tax
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reform
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i mean what are people getting wrong
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when it comes to taxes just not knowing
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the loopholes out there
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correct if you're a hard-working
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employee or a doctor or an attorney you
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will pay the highest taxes
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but for the professional investor
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like i'm an entrepreneur and i create
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investments
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i pay no taxes so as long as that's why
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rich dad poor dad
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lesson number one was the rich don't
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work for money because the moment you
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work for money you're taxed
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and so this tax reform is a good idea
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but for a young guy like you it's best
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to learn early
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why guys like me use debt and taxes to
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get rich
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whereas debt and taxes will eat you
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alive now you know many people think oh
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i'll just start my own business and
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that's how i'll move up
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the economic scale but in the book you
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say that may not be the best
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idea explain well again it goes back to
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what is your level of financial
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education
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we're taught to be employees not
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entrepreneurs go to school get a
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job not go to school and create jobs
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and the mindset between a person who
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creates jobs
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and a person who looks for a job are
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opposite it's like
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you know two sides of a coin so that's
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why
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you know both the president i know he's
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not the most popular guy with a lot of
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younger guys but he's a good man you
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wrote a book with him yeah
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two books now he's a good man but we're
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concerned about financial education
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so he and i are entrepreneurs we uh
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thousands of employees lots of real
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estate
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and because we do that the irs
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gives us tax breaks because we use debt
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because the government wants us to
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borrow money which is why interest rates
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are so low
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and because we borrow create jobs and
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buy real estate we pay no taxes
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legally well you mentioned low interest
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rates and with that you also say
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saving is for losers explain that
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tagline because i think it runs contrary
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to what a lot of people have been taught
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thank you for saying that for years i've
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caught hell as you know
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because i kept saying savers are losers
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and you saw interest rates
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when i was your age interest rates were
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15
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now in japan and switzerland there's
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sub-zero
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why would you save money it makes no
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sense to me some people say i'll save
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money
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but the but the whole economic system
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which we're part of right now
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wants debtors they don't want savers
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so we have too much money in the system
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so because they have too much cash in
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the system
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they punish the saver and reward the
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debtor
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with low interest rates and no taxes so
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what's the the other solution then to
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that i mean should i put the money into
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the stock market should i
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take on debt and invest that money in
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the stock market
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well as you know you guys are so lucky
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being your age
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so we're in the information age
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the problem is our school system's still
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in the stonehenge
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and they don't provide you the knowledge
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to process information so like when you
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say go to school and get a job
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it doesn't make sense to me because i'll
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be taxed
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and so really with the knowledge age and
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information so the most important
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investment
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is your financial education which is not
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taught in school
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and so that's why so many bright young
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people like you come out
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their student loan debt up to here
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they're looking for this mystical
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high paying job and they'll live it with
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mom and dad
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so your number one tip for young people
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would be well i would seek financial
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education for what i call
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real teachers because when i was in
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school muslim were fake
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you know i mean they really didn't know
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what they were talking about like my
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accounting teacher i'm in the mba
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program i knew more about accounting
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than he did
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because the poor guy never left school
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he was like my poor dad
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real world experience
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really yes surprising i went to flight
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school i
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flew for the marine corps i had to have
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real teachers
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you know you don't want some guy who's
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never flown before or just flew a little
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piper cub
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to teach me to fly in combat i need real
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teachers
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so as young people i always say to them
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choose your teachers wisely make sure
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they're real
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make sure they know what they're talking
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about they're not people just working
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for that paycheck
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you know like like most financial
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planners are good guys but they're not
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rich people
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why would you take advice from them and
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robert before we let you go
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what is your advice for women and
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investing what kind of mistakes do women
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make when it comes to investing
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the biggest you should talk to my wife
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kim you know she's beautiful on the
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outside beautiful the inside
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but she says this to all women women
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you and i know that when it comes to
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money
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women are smarter than men that's from
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my wife
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all right robert kiyosaki thank you so
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much for joining us
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robert kiyosaki is back with us he is
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the author of
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why the rich are getting richer robert
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this is a question that has rocked
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political campaigns for decades
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what is the answer well
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debt and taxes for a young man like you
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will be your largest single expense
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you see but for a rich person with
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financial education
13200
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