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Why the Rich are Getting Richer by Robert Kiyosaki

Translator: Queenie Lee Reviewer: Denise RQ This subject, “wealth and income Inequality” are the biggest moral crisis, and I’ll also say it’s a spiritual crisis in America today, all around the world.

This gap between the rich and everybody else is reaching critical proportions. I think one of the biggest crises of the young people, today’s young unemployed become tomorrow’s unemployable; they lose valuable jobs training skills.

I’m going to show, as a picture is worth a thousand words, I’ll just show you some pictures about how rapidly this inequality as well as the opportunity inequality is growing. What’s happening in America today is savers are losers.

Most parents say the kids go to school, save money, and work hard, but in 1970, when I graduated from school, 1 million dollars at 15% interest earned me 150,000 a year. Now, you could live on 150,000 dollars a year back then.

But in 2016, do this thing called quantitative easing, I called it the Greenspan Put. It’s one million dollars at negative 0.05%, it’s going to cost you a million dollars to save a million dollars.

That is how deteriorated our financial systems have become, and this is one of the causes of the gap between the rich and the poor. Another thing is that fewer and fewer families are receiving middle-class incomes; it’s going down.

Every time we shop at Walmart, we ship dollars and jobs over to China, and Pakistan, and all the other countries. That’s capitalism. Another thing that’s happening when people’s incomes go down: they become dependent.

Now, the US government tells us that poverty has been beaten in America. Maybe poverty has been beaten, but what has increased is the entitlement mentality. The attitude that the government and other people should take care of me.

As I said, it’s a moral crisis as well as spiritual crisis. I learned in Sunday school “Give and you shall receive,” and too many people today think they should receive. This is another crisis here: social security.

Being Japanese, the Japanese call it, “Ah, social security.” (Laughter) I’m a racist, I know. (Laughter) But anyway, I’ve met so many people my age – there are about 75 million baby boomers on the top of the baby boom chain.

We expect the government to take care of us; that’s a lot of highly educated people. That’s a crisis. In 2002, I published this book “Rich Dad’s Prophecy.” Fourteen years later, the prediction was that in 2016, there will be a global financial crash.

We’re in 2016, and here we are in 2016, you can see it coming. In the first ten years of this century, we have had three major crashes: in 2000, with the dotcom crash; followed by the 2006 real estate subprime crash; and then in 2008, the banking crash.

The question is, “Is this next?” This is “the giant crash of 1929.” Every time I listen to those guys on CNBC- I call it bubble division – they keep talking about the “giant crash of 1929.

” I tell you what: nothing compared to this one coming. That’s why I write, and I speak, and I’m very concerned about our futures, our well-being, and the state of the economy. I’m going to talk today about why the rich are getting richer.

“Commercial Message”, my next book coming out. But I’ll explain some of the tricks of the trade, why guys like me get richer, and everybody else is not. This is quite interesting. This is one of the reasons the rich are getting richer.

These are the Bush tax cuts, the biggest tax cuts go to the top 1/10th 100%. Thank you, George. I appreciate that. (Laughter) They have no morals, those guys, man, I tell you! I’m the author of the book “Rich Dad Poor Dad,” Maybe I should see a show of hands.

How many have read “Rich Dad Poor Dad”? Oh, good. Some of you have. Who has not yet read the book here? Good, there are some customers out there; I can see that. (Laughter) As I say to the Publishers Press, I’m a best-selling author not a best-writing author.

But anyway, for those who haven’t read the book “Rich Dad Poor Dad,” it’s a true story on my two dads. The story begins when I was nine years old, growing up in a little town, a little sugar plantation town, called Hilo, Hawaii.

I raised my hand in the fourth grade – and I went to a very rich, basically, all-whites school – and I said, “Mrs. Jarrell, when will I learn about money?” She said, “Why? Don’t you know the love of money is a root of all evil?” I said, “Not to me.

” (Laughter) But she said, “You’re here to get a job.” I said, “I don’t want a job. That’s why I want to get rich.” She said, “Go ask your dad.” That’s where “Rich Dad Poor Dad” started.

My poor dad was the Head of education for Hawaii, a very smart man, PhD., went to Stanford, the University of Chicago, Northwestern. I went home, and asked dad, I said, “Hey, Dad. When are we going to learn about money?” He said, “Never.

” I said, “Why not?” “The government doesn’t allow us to teach you that.” That’s kind of interesting. So he said, “If you want to get rich, go talk to your best friend’s father.

He’s an entrepreneur, and someday, he’ll be a very rich man.” That’s how the story of “Rich dad Poor dad” starts. When I was nine years old, I crossed and went to my rich dad’s office, Being an entrepreneur, he started teaching his son and me about why the rich get richer.

That’s how my financial education began. So I wrote this book in 1997. So far I sold about 41 million copies in 50 languages throughout the world. I’ll give a little bit of my background. Thanks.

I don’t do it for the applause. Send me cash. But anyway… (Laughter) This is Hilo, Hawaii to New York City. I didn’t do well in school; I was a straight C-minus student – having the old man as the Head of Education wasn’t easy.

So, anyway, I got two congressional nominations: one to US Naval Academy at Annapolis, Maryland, one to US Merchant Marine Academy at Kings Point, New York. I took New York because they were the highest-paid graduates in the world.

This is me at Kings Point, here. Our starting salaries, for most of us, were about 100,000 dollars a year, back in 1965. So that was pretty good back then, not much today, but it’s pretty good back then.

And then, when I graduated, I got a job as the 3rd Officer on a standard oil tanker sailing in the world. It was a great job except for one thing – the Vietnam War was still on, and my moral conscience kind of got to me; I said, “Maybe I should go fight a war.

” So I joined the Marine Corps, and I took a cut in pay from about 6,000 a month down to 200 a month as a Marine Lieutenant. It was a great decision. I went to a flight school in Pensacola, Florida, it was right up the street here at Camp Pendleton, and straight to Vietnam.

It was really a great experience. Loved the Marine Corps; Loved the guys who I had worked with. It’s a band of brothers; a very spiritual organization. When I came back, that’s when my business career started.

My first business, the Surfer Wallets business, and all of this. Everybody thinks, “Yeah, when you start getting successful, life’s easy.” Well, no; success is expensive. I started selling these silly wallets, and all soon, they took off, and I spent more time raising capital to buy more inventory so l could sell more.

But it was a great learning experience. I learned to make a lot of money selling wallets. My life changed when I met this man here, Dr. R. Buckminster Fuller. This here is what Fuller is noted for: he’s considered a futurist and a friendly genius.

This is a geodesic dome at the Montreal World’s Fair in 1967. In 1967, I hitchhiked from New York City all the way to Montreal to go see the dome, and it was a mind-blowing experience. I never thought I’d ever meet this great genius.

John Denver calls him “the planet’s friendly genius.” In 1981, I had a chance to study with him up in Kirkwood, California, near Lake Tahoe, for five days. I made the mistake of sitting down next while he sat down next to me really.

It was called “The future of business” seminar, and he sits down next to me, and said, Robert, what is your life’s purpose? What is your mission in life?” I said, “Oh, to get rich.

” Wrong answer! He chewed me out. He said, “Robert!” (gesturing a reprimand) It’s a waste of a good mind. Why don’t you do something that changed the world?” I said, “Changed the world? I just want to get rich.

” Finally, I got it. As he said, I’m not here to work for me, I’m here to work for everybody else. That was a pretty cathartic event once I realized how greedy I was. Then I studied with him for three years.

Every time, he kept asking the same question that he asked himself, “What can I do, I’m just a little guy?” “What can I do, I’m just a little guy?” He was tiny, too. So I ask all of you what can you do? We’re just little people in many ways.

I studied with him for three times in ’81, ’82, and ’83. And then, he passed away July 1, 1983. He left this book behind; it was called “The Grunch of Giants” and it stands for “gross universal cash heist,” G-R-U-N-C-H.

It’s how the ultra-rich rip us off. Fuller is a friendly genius, he never wrote finance books or economic books. He’s a math, science, art, design man; he’s an architect. I read “Grunch of Giants” and I understood it because it is exactly what my rich dad was telling me; the rich are ripping us off.

So at that point, I said, “What can I do, I’m just a little guy?” I decided that time I would take on grunch; and for those who wonder who grunch is, you may just notice that those crashes we just had, we got bailed out, the rich got bailed out.

Let me tell you, ladies and gentlemen, Bernanke and the President Paulson stand up there, and they say, “This was a mistake, we had to save the economy.” That’s a lie. I hesitate to tell you that; it’s a lie.

They bailed out the rich. It is part of the business plan; it goes on all the time. So, ladies and gentlemen, I said in 1983 I got to do something about this, and what can a little guy do is take on the biggest banks, the Federal Reserve Bank – which is not a bank, not federal, no reserves – (Laughter) not American.

Get the hint? I could take on Wall Street, I could take on government, but I could also take on the school system. See, ladies and gentlemen, those crashes, these bailouts are not accidents, and neither is it an accident there is no financial education in school.

But my research found since 1993, it is premeditated. Just as prior to the Civil War, it was illegal to educate a slave, we’re not allowed to learn about money in school. When I found that out, I said, “OK, it’s time for me to get on with my life and start teaching.

” So I become much like my rich dad and my poor dad, I started teaching. It was not too far from here, my wife and I were homeless in San Diego, doing our best to teach, because we can’t go inside the school system, and nobody wants to listen.

That’s how it started, and so I’m going to tell you what financial education really is. I’ll start by telling what it’s not. Financial education isn’t saving money and investing for a long term in the stock market and getting out of debt; exactly the opposite of that.

My financial education began with the game of Monopoly. We all know the formula: four greenhouses, one red hotel. When I was nine years old till I was about 20, rich dad and I, and his son would play Monopoly.

That’s how I learned to become a rich man. The reason that works is this is the cone of learning. It was created by a man named Professor Edgar Dale. In 1969, he came up with the cone of learning, and he said this is how human beings are designed to learn.

Noticed the worst way to learn is by reading, and the second worst way is lecture, listening to the boring teachers – that’s why I was never at school; anyway, I was there, but anyway… (Laughter) What you guys are doing is you’re looking at pictures, watching movies, that’s why TED Talks works.

Also, the second best way is called simulation. Simulation is where you get to make your mistakes, you’ve got to make your mistakes after mistakes after mistakes, So human beings learn by making mistakes; except in school: you make mistakes, you’re considered stupid.

In business, you make a mistake, you’re fired, you’re a failure. So, a person has got to find a place to make mistakes. And for scientists like Edison, it was the laboratory. The reason I learned a lot was I made mistakes playing Monopoly.

That’s how I learned so much. Today, I play Monopoly in real life. My wife and I have over 10,000 units, several hotels, golf courses, and oil wells. But that’s the game. Once you learn in your brain by playing games, simulation is a little way you learn, so you practice, practice, practice, practice, practice.

You make mistake after mistake after mistake like a golfer makes a mistake after mistake after mistake. Then they are turning pro. But the reason a lot of people are not rich is they think mistakes make them stupid.

It’s criminal: a baby cannot learn to waffle less they fall down. You can’t learn to ride a bicycle until you fall off the bicycle. So that’s where our school systems are letting us down. I loved the military because they taught us to make mistake after mistake after mistake.

Every day when we flew, we practiced emergency procedures, and every day I killed my engine to fly my aircraft without an engine. This here is me doing the real thing. I went down three times in Vietnam.

If not for practicing crashing, I wouldn’t be here today. All five of my crew came home alive. What I did was, after Bucky kind of chewed me out with “What can I do, I’m just a little guy?”, my wife and I created this board game called Cashflow.

This is the key to the Cashflow game here. This is called a financial statement. Add a financial statement to Monopoly, you have Cashflow. This is financial literacy: how do you understand numbers? So the beauty of the Cashflow game is today we have thousands and thousands of Cashflow clubs all over the world; people teaching people without having to go through school and getting a student loan debt.

Now, you have to go to school to be a doctor, a lawyer, an engineer, but you don’t have to go to school to be rich. So all over the world today I asked what Dr. Fuller asked, I started empowering people to learn.

So all of over the world, today, every day, in different languages, people are teaching people the same lessons my rich dad taught me. This here is a financial statement: income, expense, asset, liability.

The beauty of this here is this: this is your report card when you leave school. My bank was never to ask my grade point average or what school I went to. My bank wants to see my financial statement. The reason most people can’t go loans is they don’t have a financial statement.

They don’t even know what it is when they leave school; even college graduates. The reason I can borrow hundreds of millions of dollars: I have a strong financial statement, this financial literacy.

This here is very simply; it’s income, expense, asset, liabilities. Poor dad always said to go to school and get a high-paying job. The problem with education is they teach you to be employees. Rich dad taught me to be an entrepreneur acquiring assets: four greenhouses, one red hotel.

Assets are very simple: you can plant an apple seed, that apple seed goes into a tree, harvest the apples, you sell the apples, you then reinvest your profits, and you keep building an orchard; that’s how you get rich.

Or a friend of mine, when he was in high school, his grandma gave him some chickens, those chickens lay eggs, he sold the eggs and reinvested it. When he was 45 I think, he sold this business, he was selling ten million eggs a day to Costco and Walmart.

You don’t have to be a rocket scientist to build assets. It’s buying a couple of chickens. (Laughter) It’s kind of funny, really. So the power of words – financial literacy begins with words, because words affect your brain.

As my poor dad always said, “I can’t afford it.” In Sunday school I learned “the word becomes flesh.” Every time you say you can’t afford it, and you say I’m a poor, I’m a loser, I can’t do something, I’m helpless, the government should take care of me.

Disgusting! Rich dad taught me, “How can I afford it?” So when I had no money, my wife and I just kept thinking, “How can I afford it?” Pretty soon, your mind opens up, and that’s when intelligence comes in.

Most important words and money are basic, there’s only four: [income], assets, liabilities, cash flow, that’s it. That’s where financial literacy says: income, assets, liabilities, and cash flow.

You understand those four words basically, then you can build your vocabulary. Money has a language, but it’s not taught in school. It is taught job security versus being an entrepreneur. Look for job security, instead of go for financial freedom.

If somebody should take care of you and said, “I’m going to take care of other people.” As an entrepreneur, I have thousands of employees. That’s my job;to create other jobs, to give them a safe life.

So number one is assets, number two is liabilities, cash flow; these are liabilities. The reason the poor middle-class grow poor is because they think their house is an asset. If you read “Rich Dad Poor Dad,” I said several things: savers are losers, and your house is not an asset.

This came out in 1997. In 2007, the subprime market crashed, and tens of millions of people throughout the world found out their house was a liability. If you use the wrong word to describe the wrong issue, you will always be stupid and broke.

So don’t call a liability an asset, and that’s why so many people are broke. They are using the wrong words, and the words become flesh. Financial literacy – change your words, change your life.

Never say, “I can’t afford it.” Ask yourself, “How can I afford it?” Work to acquire assets not liabilities. Ladies and gentlemen, we have thousands of Cashflow clubs around the world: people are teaching people.

You don’t have to go to school to learn to be rich. The thing is, as Bucky Fuller challenged me, “What can I do, I’m just a little guy?”, I stopped making wallets, and I started making sense.

My wife and I created this Cashflow board game that’s played throughout the world today. Every day, tens of thousands of people are teaching themselves. That’s how you change the world. But if you change your words, you change your life.

So the best news is words are free. It doesn’t take millions of dollars to change the world. Just change your words. Thank you very much. (Applause) this subject wealth and income inequality are the biggest moral crisis and also say it’s a spiritual crisis in America today all around the world this gap between the rich and everybody else is reaching critical proportions and I think one of the biggest crises is the young people today’s young unemployed become tomorrow’s unemployable they lose valuable jobs training skills so I’m going to choice as a picture’s worth a thousand words I’ll just show you some pictures about how rapidly this inequality as well as opportunity inequality is growing so what’s happening in America day savers are losers you know most parents say the kids go to school and save money and work hard but in 1970 when I graduated from school a million dollars at 15% interest earned me a hundred fifty thousand a year now you can live in a hundred fifty thousand dollars a year back then but in 2016 do this thing called quantitative easing I call it the Greenspan put its 1 million dollars at negative five basis points it’s gonna cost you a million dollars to save a million dollars that is how deteriorated our financial systems have become and this is one of the causes between the gap between the rich and the poor the other thing is that fewer and fewer families are receiving middle class incomes it’s going down every time we shop at Walmart we ship dollars and jobs over to China and Pakistan and all the other countries that’s capitalism the other thing that’s happening when people’s incomes go down they become dependent now the US government tells us that poverty has been beaten in America well maybe poverty has been being but what has increased is the entitlement mentality the attitude that the government and other people should take care of me as I said it’s a moral crisis as well as a spiritual crisis I learned in Sunday school give and you shall receive and too many people today think they should be this is other crisis here’s Social Security being Japanese the Japanese call it ah saw security I’m a racist I know but anyway I’ve met so many people my age there’s about 75 million baby boomers on the top of the baby boom chain we expect the government to take care of us that’s a lot of highly educated people that’s a crisis so in 2002 I published this book Rich Dad prophecy 14 years later prediction was a 2016 there’d be a global financial crash we’re in 2016 and here we are in 2016 you can see it coming in the first 10 years of this century we have had three major crashes in 2000 was the dot-com crash followed by the 2006 real estate subprime crash and in 2008 the banking crash the question is is this next this is the giant crash of 1929 every time I listen to those guys on CNBC I call it bubble vision they keep talking about the giant crash 1929 I tell you what doesn’t even compare to this one coming you know so that’s why I write and I speak and I’m very concerned about our futures our well-being and the state of the economy sunk we talking today about why the rich are getting richer commercial message my next book coming out but I’ll explain I’ll explain some of the tricks of the trade why guys like me get richer and everybody else is not and this is quite interesting this is one of reason the rich are getting richer this is a bush tax cuts the biggest tax cuts goes to the pot top 1/10 of a percent thank you George I appreciate that they have no morals guys manatee but anyway I’m the off of the book Rich Dad Poor Dad maybe I should see a show of hands how many have read Rich Dad Poor Dad oh good somebody have who has not yet read the book here good there’s some customers out there you know as I say to the press I’m a best-selling author not a best writing author anyway so the photos I’ve heard the book Rich Dad Poor Dad the tree was talked about my two dads and the story begins when I was nine years old growing up a little town a little sugar plantation town called Hilo Hawaii and I raised my hand in the fourth grade and I went to a very rich basically all-white school and I said uh this was Jarrell when will I learn about money and she says my don’t you know not to me so let’s go ask your dad so that’s what Rich Dad Poor Dad started my poor dad was a head of Education for Hawaii very smart man PhD went to Stanford University Chicago northwestern and I went home and I asked dad said hey Dad when we gonna learn about money he says never I said why not so the government doesn’t allow us to teach you that so that’s kind of interesting so you said she want to get rich go talk to your best friend’s father and he’s an entrepreneur and someday he’ll be a very rich man so that’s how the story of rich dad poor dad starts when I was nine years old I crossed I went to my rich dad’s office being an entrepreneur and he started teaching his son and me about why the rich get richer and that’s my financial education began so I wrote this book that came out in 1997 so far it sold about 40 million like 41 million copies in 50 languages throughout the world so a little bit my background that’s anyways Hilo Hawaii – New York City I didn’t do well in school as a straight c- student but I did haven’t the old man is the head of education wasn’t easy you know so anyway um I got two congressional nominations one to u.

s. Naval Academy Annapolis Maryland one to u.s. Merchant Marine Academy at Kings Point New York so I took New York because we’re the highest-paid graduates in the world and this is me at Kings Point here and our starting salaries for most of us was about $100,000 a year back in 1965 so that was pretty good back then not much today but it’s pretty good back then and then when I graduated I got a job it’s a third officer on standard oil tanker sailing in the world it was great job except for one thing the Vietnam War was still on and my moral conscience kind of got to me and I said maybe I should go fight a war so I joined the Marine Corps and I took a cut in pay from about 6,000 a month down to 200 a month as a marine lieutenant and it was a great decision I went to flight school in Florida Pensacola I was right up the street here at Camp Pendleton and straight to Vietnam it was a really a great experience love the Marine Corps love the guys I worked with and it’s a band of brothers very spiritual organization and I came back that’s when my business career started my first business the surfer wallet business and all this and everybody thinks yeah when you you start getting successful life is easy well know success is expensive you know I started selling these Sully walnuts and also they took off and I spent more time raising capital to buy more inventory look at sell more but it was a great learning experience I learned to make a lot of money selling wallets but anyway my life changed when I met this man here dr.

R Buckminster Fuller this here was what fuller is noted for he’s considered a futurist and a friendly genius this is a geodesic dome with the Montreal World’s Fair in 1967 for a 1967 I hitchhiked from New York City all the way to Montreal to go see the dome and it was a mind-blowing experience I never thought I’d ever meet the great genius you know John Denver calls him the planets friendly genius so anyway but in 1981 and a chance to study with him up in Kirkwood California near Lake Tahoe for five days and I made the mistake of sitting down next well he sat down next to me really and with a what’s called the future of business seminar and he sits down next to me says Robert what is your life’s purpose what is your mission in life it’s a waste of my good mind why don’t you do something that changed the world let’s change the world I just want to get rich you know and finally I got it as he says you know I’m not here to work for me I’m here to work for everybody else and it was a very pretty cathartic event once I realized how greedy I was then I studied with him for three years and every time he kept asking the same question that he asked himself what can I do I’m just a little guy what can I do I’m just a little guy so I ask all of you what can you do just little people many ways so I studied with him for three times 81 82 and 83 and then and he passed away July 1st 1983 he left this book behind was called a Grunch of giants it stands for growth Universal cash sights grun CH it’s how the ultra-rich rip us off now Fuller is a friendly genius he never wrote finance books or economic books he’s a math science art design he’s an architect I read crunch of giants I understood it because is exactly what my rich dad was telling me the rich are ripping us off so at that point they said huh what can I do I’m just a little guy and I decided at that time I would take on brunch and for those who wonder who crunches you mean just notice that those crashes we just had you know we got bailed out the rich got bailed out let me tell you ladies and gentlemen Bernanke and the president and Paulson stand up they say this was a mistake we had to save the economy that’s a lie I hesitated I hesitate to tell you that it’s a lie they bailed out the rich it is part of the biz names business plan goes on all the time so ladies and gentleman I said in 1983 I got to do something about this and what kind of little guy to has taken the biggest banks the Federal Reserve Bank which is not a bank not Federal no reserves not American get the hint and I could take on Wall Street I could take on government but I can also take on the school system see ladies and gentlemen those crashes these bailouts are not accidents and neither is it an accident there’s no financial education in school what my research found since 1983 is premeditated just as prior to the Civil War was the illegal to educate a slave we’re not allowed to learn about money in school and when I found that out I said okay it’s time for me to get on with my life and start teaching so I saw I can’t be I can’t much like my rich dad and my poor dead I started teaching and it was not too far from here my wife and I were homeless in San Diego you know doing our best to teach because we can’t go inside the school system and nobody wants to listen anyway that’s how it started and so I’m going to tell you what financial education really is I’ll start by telling what it’s not financial education isn’t saving money and investing for a long term in the stock market and getting out of debt exactly the opposite of that so my financial education began with a game of Monopoly you know we all know the formula for green houses one red hotel so announced nine years old till I was about 20 rich dad I haven’t time to play Monopoly and that’s how I learned to become a rich man so the reason it works is this is the cone of learning it was created by a man named Professor Edgar Dale and in 1969 he came up with the cone of learning and he said this is how human beings are designed to learn notice the worst way to learn is by reading and the second worst way is lecture the thing too boring teachers that’s why I was never at school and I was there anyway and then what you guys are doing here is you’re looking at pictures watching movie as my TED Talks works but also the second best way is called simulation simulation is where you get to make your mistakes you got to make your mistakes after mistakes you just make mistakes so human beings learn by making mistakes except in school we make mistakes you’re considered stupid in business you make a mistake you’re fired they make a mistake in business you’re a failure so a person’s got to find a place to make mistakes in scientists like Edison it was a laboratory so the reason I learned a lot was I make mistakes playing Monopoly that’s how I’m that’s how I learned so much and today I play Monopoly in real life my life and I have over 10,000 units several hotels golf courses and oil wells but that’s the game you know once you learned in your brain by playing games simulations the way you learn so you practice practice practice practice practice you make mistake after mistake after mistake like a golfer makes a mistake after mistake after mistake then they turn pro but the reason a lot of people are not rich I think mistakes make you stupid it’s criminal a baby cannot learn to walk unless they fall down can’t learn to ride a bicycle until you fall off the bicycle so that’s where I school systems letting us down so I love the military because they taught they taught us to make mistake after mistake after mistake every day we flew we practice the emergency procedures and every day I killed my engine to fly my aircraft without an engine and this here is me doing the real thing I went down three times in Vietnam if not for practicing crashing I’d be wouldn’t be here today all five of my crew came home alive so what I did was after buck buck he kind of chewed me out he says what can I do I’m just a little guy my wife and I created this board game called cash flow but this is the key the cash flow game here this is called a financial statement is it add a financial statement to monopoly you have cash flow this is financial literacy how do you understand numbers so the beauty of the cash flow game is today we have thousands and thousands of cash flow clubs all over the world people teaching people without having to go to school and getting us to her loan debt now you have to go to school would be a doctor a lawyer an engineer but you don’t have to go to Hill to be a rich so all over the world today I asked I didn’t have felt dr.

fuller asked I started empowering people to learn so all over the world today every day in different languages people are teaching people the same lessons my rich dad taught me and this here’s a financial statement income expense asset liability the beauty of this here is this this is your report card when you leave school your banker had my papers everyone asked me my grade point average to what school I went to my bank wants to see my financial statement and the reason most people can’t go loans they don’t have a financial statement they don’t even know what it is when they leave school even college graduates the reason I can borrow hundreds of millions of dollars I have a strong financial statement its financial literacy and this here is very simply if income expense asset liabilities poor debt always said go to school and get a high paying job the problem with education they teach should be employees rich dad taught me to be an entrepreneur acquiring assets for green houses one red hotel assets are very simple you can plant and plant two apple seed and an apple seed grows into a tree harvest the apples you sell the apples you win reinvest your profits and you keep building an orchard that’s how you get rich or a friend of mine when he was in high school his grandma gave him some chickens those chickens lay eggs he sold the eggs and reinvested it and when he was 45 I think he sold his business he was selling ten million eggs a day to Costco and Walmart you don’t have to be a rocket scientist to build asses it by a couple of chickens okay it’s kind of funny you know really so the power of words financial literacy begins with words because words affect your brain as my poor dad always said I can’t afford it you know in Sunday school I learned the word becomes flesh every time you say you can’t afford it you say I’m poor I’m a loser I can’t do something I’m helpless the government should take care of me disgusting rich dad taught me how can I afford it so when I had no money my wife and I just kept saying well how can I afford it and pretty soon your mind opens up and that’s when intelligence comes in most important words and money are basic there’s only four assets liabilities cash flow that’s it that’s where financial literacy sorts income I mean assets liabilities and cash flow you understand those four words basically then you and you can build your vocabulary money has a language but it’s not taught in school it’s taught job security versus being an entrepreneur you know look for job security go instead of go for financial freedom it’s somebody should take care of you and said I’m gonna take care of other people as an entrepreneur I have thousands of employees you know that’s what that’s my job to create other jobs give them a safe safe life so number one is assets number two is liabilities cash flow these are liabilities the reason the poor and middle class grow poor is because they think their house is an asset if you read Rich Dad Poor Dad I said several things savers are losers and your house is not an asset this came on at 1997 in 2007 the subprime market crash and tens of millions of people throughout the world found out their house was a liability look if you use the wrong word to describe the wrong issue you will always be stupid and broke so don’t call a liability an asset and that’s why so many people are broke they using the wrong words the words become flesh financial literacy change your words change your life never say I can’t afford it as yourself how can I for work to acquire assets not liabilities that ladies and gentleman we have thousands of cash flow clubs around the world people are teaching people you don’t have to go to school to learn to be rich so the thing is as Bucky fuller challenged me what can I do I’m just a little guy I stopped making wallets and it started making sense created my wife and I created this cash flow board game is played throughout the world today every day tens of thousands of people are teaching themselves that’s how you change the world but we change your words your change your life so the best news is words are free it doesn’t take millions of dollars to change the world just change your words thank you very much you

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