The Truth Behind the Selling Skill | Tips from Robert Kiyosaki

Personal Development and Business Success

You want to be happy, build a life not just a business. Karmaica and this channel were created to help you overcome the number one challenge that holds you back: lack of belief in yourself. Watch these videos because you know there’s something more inside you. You have the talent of the greats in something. So today, let’s live the best of life and receive the incredible wisdom of Robert Kiyosaki. Enjoy it!

Overcoming Shyness and Learning to Sell

The basic skill on this side, according to my father, is that you have to sell. You wouldn’t be an entrepreneur if you couldn’t sell, and that scared me because I’m Japanese and I’m really very shy. My father used to tell me, “You’re shy, what are you going to do about it?” I said, “Well, I just, I just don’t like rejection, I don’t like this, I don’t like that.” I could kill people, but I couldn’t talk to them. So why does a rich man pressure me, as I said I don’t want to sell, from my poor father’s side? And the Japanese are scum, they’re thieves, they’re swindlers. And on this side, you have to have the ability to sell. Can you handle rejection? If someone says no, can you come back? I didn’t want to do that, I’m very shy. And that shyness kills me. Hey Robert, what advice would you give your 20-year-old self starting their entrepreneurial career? Start, I mean, study what accumulates fat accumulates but also knowledge and wisdom. You could be sitting in a bar, you know, listening to Cooper or something, or in a bar eating chicken wings and a Budweiser, that accumulates. Or you could be listening to YouTube or something to you guys or who knows someone else and also listen to Marxists, some of those guys give me the creeps. There are a lot of Marxists and communists on YouTube. Well, you have to know your enemy, I don’t mean you have to know what they’re up to, it’s like having an open mind. One of the biggest mistakes I hear today from young people is I don’t have to worry, I’m still young. Yeah, and that complicates most because I get older and I stop being young. So I mean when I talk about assets and liabilities the most important thing you have in your life is time. It’s the greatest asset, it’s a disadvantage, that is, I just turned 70 and I have friends who have nothing, they have zero, they may have made a lot of money for themselves, but they have nothing, they have good houses, good cars, six wives, 19 kids, I don’t know what they have, they explained to me. And being young is great except that it can be a disadvantage. Because when you’re young, you have a lot of fun and life is exciting and new, but so is time, that’s the thing. This is today’s lesson, many people spend time focusing here, they want to make a lot of money, I can hear it in their words, they say Oh, I want a career, this is the career, or I want to start my own business, and this is where you’re actually at, this is the cash flow quadrant, e is the employee, s is a small business owner or specialist like doctor lawyer or web designer, b is big business 500 employees or more, and i is a professional investor. So when I was your age, I knew I wanted to get here, that would take time. This is the hardest thing, you know, here’s where the money is, and Kim and I are here, and the money is massive but it takes time to get here. The biggest mistake I see young people make is when they focus here and their words are I want to do what I love. That’s the way, you’ll see in real life, sometimes you have to do what you hate, people think I like writing books, I hate writing books but it fills my purpose in life not my passion my purpose in life because my purpose was to get here. Many are stuck here doing what they love and as we talked about before in several episodes here the highest taxes are paid 40% here 60% here.

Understanding Financial Principles and Investing Wisely

20% here and zero here. So when I was in my 20s, I knew I wanted to go there and didn’t do what I liked. I had to learn what I didn’t want to learn, I had to do what I hated, I had to learn about taxes, learn about debt, go to classes, I had to learn about insurance. So I was doing a lot of things I hated to be able to get here. These guys never do this because they live their passion, my passion, a passion is a bar and purpose is for other people. So my purpose was to come here to be able to serve more people. Yes, here I have employees and all this I don’t buy stocks or bonds or mutual funds because as a professional investor I can create my own assets. There are three types of money you need to be aware of: one is God’s money and God’s money is gold and silver. So this is silver and this is gold, I brought it because people don’t know what they look like. And then there’s government money, which is fiat currency, that’s the dollar, the yen, the peso, the euro, the fake yuan, everyone strives for it. It’s like eating fake food or drinking fake food, that’s why people are getting financially sick because they’re working for fake money. Then there are fake assets, which is the other part of the series, the fake generation. But I brought this because most people haven’t seen it, this is real silver. This is what it looks like. So in 1972 this was gold. This is God’s money. This is how it looks and I call it God’s money because it can’t be counterfeited. You can counterfeit it like fake ETFs, gold ETFs or silver ETFs. I don’t touch it because it smells as bad as the one printed, you know what I mean Jesus, but this is real money. So look at this when I started buying it was $1.40 today it’s $16 and this here is gold. Gold I brought it because most people haven’t seen it or thought that this is real. This is God’s money because it’s God’s money because it was here when the Earth was created and it will be here when we’re all dead when you save in fake dollars this will still be here or in fake ETFs or those fake stocks you’ve been in the headlines everyone talks about what you’re warned against. Hey friends, get ready for a big market crash right what does this Christmas bring us Robert? Well you know I love you because we’re gold silver bitcoin tough guys and all this I’m a tough heart and it’s good news for us but it’s bad news for the boomers bad news what happens what happens is that J powerfit is trying to push the yield curve up but most people know that the real curve is the euro dollar curve not the fed curve and the euro dollar curve inverted every time that happens tragedy follows most of us are old enough to remember the last time the yield curve not the last time and not the previous time in 2007 the euro dollar curve inverted and the Fed was trying to keep it up so the Fed pushes it in this direction but the euro dollar goes the other way and that led to the lehman moment in 2008 and what happened in 2019 and in 20 it inverted again in the market and the euro dollar inverted and covid appeared so once again the euro dollar yield curve inverted and this gives rise to my friend Jim richards who says that this next one is going to be the biggest one yet so it’s good news for some and bad news for the boomers who are starting to retire. So if you’re in the stock market and you’re counting on it to keep you alive well let’s say you’re 65 and you have to live until you’re 85 you could be in serious trouble when you were in school were you an exemplary student or a bad one you know were you the class star or the class street and if you weren’t the exemplary that means you can’t be successful it means if you weren’t a great school you’ll never be successful What if you drop out if you drop out like Steve Jobs or Bill Gates that means you have it Jack ma who was the founder of a small company called alibaba used to say if you’re 35 and you’re not rich and successful you won’t be successful anymore he’s a ex school teacher ex school teacher who wanted to be rich but it’s natural he has that idea that if you’re not successful in school you’ll never be successful in life in my opinion what has always harmed you was school school damaged my brain and my father was the head of education for the state of Hawaii and I hated school I sat there and I was beaten all the time for being stupid your generation says taxes should be paid by the rich as he says never happened I the tax law requires the rich to do what the government wants they’re incentives they provide housing jobs and food and energy. So that’s what they should be teaching and in school they don’t and that’s where they fail that’s why they don’t do it it’s kind of like rich dad poor dad you understand I mean even when you were talking about jobs it’s like well if none of us would be here if it weren’t for you creating this company and it’s a little curious because the government doesn’t want us to create more houses more more businesses why don’t they teach us this in school Well because it’s a fake education fake teachers this has been happening for hundreds of years and the rich took over it was rockefeller carnegie and melon and they said we don’t need more entrepreneurs we need more employees. So the purpose of American education is to create soldiers and employees who do

Financial Education and Investing Strategy

What they say and don’t know anything about money. Living below your means. I want to live the best life I can live so I often talk about this. I use it as an example. If I want to buy a Ferrari, first I buy an asset and the asset is what pays for the Ferrari. I wanted a Rolls-Royce. Why? Because I never had it. So I build an asset and it was that asset that allowed me to get the Rolls. So I have no guilt. I have financial education. What the company budget teaches and you can have it too. You just have to stop listening to those poor school teachers. Most are like my poor father, very, very nice people but they make terrible mistakes. They want a fixed salary and a guaranteed pension. I don’t think you’ll get rich from that standpoint. Look at this chart here, it’s called the cash flow quadrant and that employee and self-employed that’s my poor father, those guys work for money. They’re not capitalists. They work for money and invest their own money on the B side and that’s my rich dad’s side, that’s the capitalist side. Capitalists use other people’s work and money to get rich. Which one do you want to be? I prefer the capitalist. It’s the only difference in all the mindset change and education. But everyone can do it if they want to do it. Real estate is the most important type of asset. Many think of stocks, bonds, and mutual funds, but they’re just assets. But real estate is for me the most important asset class to study, especially today watching the bubble vision and recognizing that if you have a problem with 7,000 properties because they flip them and naturally pay taxes, I don’t flip properties. I hold the property forever. I collect rent forever and don’t pay taxes. So if you like paying taxes then don’t invest in real estate. If you like paying taxes then have a 401k. Most scam in sight so that’s why real estate is the most important asset class in the global picture. It’s the simplest and most important example and this is also complex and it’s complex because if you buy Apple stocks and make a mistake you buy Apple at $10 or Tesla at $10,000 or whatever you buy three $10,000 stocks and it starts crashing you can get out tonight. But you buy real estate, you can’t get out. Financial education says what most teachers don’t know is called liquidity and the reason why real estate should be studied more than any other non-business topic is liquidity. If you start a business you can’t get out if you made a mistake, you buy real estate and you can’t get out, millennials are the highest generation the highest generation that has cell phones they’re not educated in school but on social media on the phone they know all the answers but are afraid to do something but what my generation complains about is that millennials know all the answers but can’t do anything the reason is because and I don’t want to open the feelings of someone could make a mistake you have them on your phone in that box trapped is why millennial money is so important if you’re going to enter my world or the old world or information you really have to understand what you’re risking what’s not risky in my world if you play it safe that makes you stupid because if you don’t risk you don’t win you can know the answer but you can’t do anything the best thing I had was that I went to Military School to flight school I had such good teachers you know everyone could fly flight instructor could fly what a novel idea a flight instructor who can fly but when I was in high school most of my teachers were terrified all cowards job security don’t make mistakes memorize the right answer and you’ll be safe but most of those teachers are not rich and they teach that generation most are afraid of debt you’ll see more to your house tonight and say they told me to use debt and most do it like this because they don’t teach you about money debt is money after 1971 when Nixon took the dollar off the gold standard money became debt so the people who lose are the ones who save like they say you put the money in the bank like a

Financial Independence and Entrepreneurship

Saving like a saver who never enters and borrowing like a debtor and using that money to buy millions of dollars in real estate. So Kenneth bought a billion in real estate using debt but most people say I can’t do that because I don’t have money. You don’t have money because lesson number one says the rich don’t work for money. We learn to use debt to create assets and assets put money in our pockets. If you’re going to be an entrepreneur, it’s going to be the greatest adventure of your life. You’ll want to keep learning but if you just want a few dollars they’ll tax you, yes, that’s quadrant E, A, N, and I, that’s the problem. Small business loans don’t give you money, it’s hard to get capital, like an SBA. But I prefer Wall Street. I prefer to raise my own capital, yes, but it requires skill. I tell entrepreneurs to see it as the greatest education plan they’ll ever go through. I don’t give a university degree, but you’d better learn quickly with good people around you and keep studying. When I left school in the 1960s, there was a lot of work but the world changed and our schools didn’t but they still make that promise try to get a job. I was lucky when I graduated with the best graduates in the world because my peers were making between 125 and 250,000 a year. It’s not much money today but in 1969 it was a lot of money but how do young people do it? We spent it all. So I had my rich dad’s choice, the rich don’t work for money in my head. Okay, I’m making all this money. I have a secure job, but what’s beyond that? That’s where education comes in. But if I could explain this to you and the rest of the millennials, they would understand that it’s the central issue because financial education is about not working for money. The first question when I realized what my rich dad was saying was well, how long will I need a salary? My goal wasn’t, you know, it was the moon or curing cancer. My job was to know how long I’d need a salary because as long as I need a salary, whether it’s from an employer or my father who was so afraid of losing his pension, I say Jesus, what a way to live your life, to a pension. So my father was fired and lost his pension. It was the scariest thing in the world for him. He was left without a pension then it was Social Security which was even worse. That’s why when I was your age, around 25, I said my goal was to never need a salary from anyone, not even the government. I don’t want any Medicare or Social Security or whatever. As a military pilot, you have to get the pilot’s pension. So you do it but I won’t. And just for this you see here, that’s the difference because I never wanted to work for money to need a salary. So the next lessons on millennial money discover my work so let me show you this lesson here this comes from Rich Dad Poor Dad they’re some distinctions it’s my advantage of these nine years because I knew what I wanted to work for this here in simple terms it’s called financial statement in school they teach it as fake the fake is garbage it just shows how well you pay bills that’s all it means it should be the final score good dog so this is what your banker wants to see when I was 9 playing Monopoly with my rich dad this lesson wasn’t included in Monopoly but my rich dad taught it to me the most common mistake of most is that most go to school to get a job and they work here that’s the poor middle class and as we’ll see their first expenses are taxes and recently President Trump talked about a cut he didn’t have a cut for these guys as you know the rules are always written by the rich I didn’t make the rules I can get mad at you but these are the rules the rules make the rules the Gold Rule He who has the gold makes the rules. So the cut was for these people here. That’s where I learn more about this later. But these are what I work for. So what I work for number one is that I’m an entrepreneur. I want businesses. I have multiple businesses because I work just like you but you work here and don’t see what I do because I don’t work for a salary. The next are real estate and these are very good for many things but the most important is debt. I use debt to buy real estate and don’t pay taxes. That’s the relationship there and the paper Nexus those are savings accounts bonds mutual funds etfs I have none of that I don’t save money none of that’s why most go to school and

Working to earn and save money, losers

I do it just to annoy them. Maybe you start to think why I didn’t make the rules, I just follow the rules. These people pay the highest taxes and work the hardest, and the last thing they are is assets. They differ in several classes. Assets are number one: gold, silver, oil, land, water, food. So when I left school instead of working for a salary, work for money, education had to go beyond getting a job, it had to be a good job but now I had to start when I left school at your age. I thought the first thing I had to focus on was commodities. So in 1972, I started buying gold and it was illegal for Americans to own gold, imagine 72, today you have bitcoins, it’s different, everything is changing so fast. I started with gold but next was oil because I went to school to be a tanker officer, I drove ships for Standard Oil. So, I understand oil. My wife and I don’t own scandals or Sherbron or Epson, we own an oil well. Once again, taxes, you don’t get extensions for owning paper oil, but for owning real oil. And then I got into real estate. Why? To use debt to buy real estate. And how I use debt, I don’t pay taxes. And third, I started my business, my first business, my real many, many, many, many, many, many, many childhood businesses but my first real business was the Velcro and nylon wallet business. We sold it to everyone but the problem was I was an idiot and the business went up and the business went down. What kept me alive was this and this. Ok so you can say why do you work for money I’ll answer that now. I don’t want anything called a salary. I want a cash flow from here to this. What I mean by the rich don’t work for money. I want a cash flow that pays low taxes and I can use a lot of debt here. The average person who went to school, your biggest responsibility has a student loan. Yes, of course, I mean, it’s horrible that they do this today, the student loan is the worst kind of debt because you can’t declare bankruptcy. Then you try to buy a house you call it an asset when they’re really passive. Why? Because money doesn’t flow there, your house costs you money, house rent costs money. Ok, you want to have a nice car, I have that, the problem with young people is they go to school they get that job and many have loan debt then they try to get married buy a house a car and then they have credit card debts but they never have the opportunity to come here they make some investment in the United States it’s a 401k that I wouldn’t touch with a 10-foot pole they should but I don’t have to because I went to school here the people who don’t go to school should be here it’s about 401 savings irrafte investors paper salvations I don’t have those things we’ll get into that later ok that’s why the rich don’t work for money I never wanted to be dependent on a salary or an employer or the government I wanted to be a free man did you ever wonder why the rich don’t pay taxes of course I mean it went viral when Trump said he paid zero taxes and I wondered the same thing one how can I do that because I need that would be great if I could not pay taxes and two can you structure it so it works that way I say here look fake money fake teachers fake assets it’s all the same and those guys scream for the rich not to pay taxes is fake. In fact, there is an interview an article in the New York Times the interview is with Jared Trump’s son-in-law is Ivanka’s husband and they are richer than Trump Jared’s family is richer than Trump but the reason Jared explains why guys don’t pay taxes is because they’re in real estate they’re not in investment funds or ETFs and so explains why the rich don’t pay taxes is because there are three types of income this is not taught in school bad teachers don’t teach it the number one type of the three types of income the number one type of income is earned income earned income is when you work for money it’s earned so earned incomes appear here so these guys pay taxes so when everyone shouts taxes for the rich you can’t tax them because they don’t have jobs so it’s kind of funny let’s not make them pay taxes so good luck and then the second type of income is portfolio income portfolio income is flipping houses or buying a $10 stock and selling it for 20 that’s portfolio income ok I don’t do that Trump doesn’t do that so most of the guys who are flipping houses and all that buying stocks and flipping So you earn this type of income this type of income is 20% today to be able to do something here but the income that the rich work for is called passive income these incomes are known as cash flow the name of our game cash flow and that income is an income that plays from here to here it bypasses taxes doesn’t sound fair and it isn’t I’m not disagreeing with you but what doesn’t sound fair are our schools that are part of the problem we never explain this and then as they are passive incomes they are not taxed because I guess you are creating jobs and being owners and providers of houses you are smarter it’s not illegal because tax laws are incentives to do what the government wants to be done the reason why Trump’s stocks don’t pay taxes they provide housing number two in column B they provide jobs so they don’t pay taxes and three you know it’s the bad word oil doesn’t pay taxes when you drill for oil you don’t pay taxes so you provide food you don’t pay taxes so if the real financial education that will never be taught in school because they are false teachers how do you face criticism do you have a formula how do you deal with it I can’t Reich thank you it’s part I don’t lie because I don’t like it I don’t lie I don’t have to do it when you talk about pursuing the

Excellence and Encouraging People to Step Up

You know, something I used to do was polish people. They come up and say, “Well, thank you for the book.” I don’t do that. People come up and say, “Thank you for the book,” and I listen. I say that my excellence is to be a better human being with everyone who approaches me. Because nothing gets to my head, I’m busy, and I don’t have time for them to talk about how they made $10,000, you understand? But in everything I do, I can excel at it. I can be a better human being towards them, and that’s what I tell everyone. The word excellence is a mental word, but how do I turn it into action? And when I turn it into action, you know, Maria Montessori of the Montessori system says what the hand does, the mind remembers. Many academics have a good memory but can’t do anything. That’s my whole family. Great people, doctors. I have a distant relative who’s 40 years old, he’s living in the basement, going for the second doctorate, can’t find a job. God’s trying to tell you something, yes, if you just don’t pay attention. And what is it that you do that you don’t have time to pay attention to haters if you’re pursuing Excellence, right? Well, there’s a saying I have, you know, “Don’t teach a pig to sing, you waste your time and it annoys the pig.” So I don’t argue, I’m a writer but I wouldn’t be here if it hadn’t been a tough road. The reason I couldn’t write was that I was a surfer, I love surfing, dreamt of one day becoming a professional surfer, and I realized I was for my friends, you know, cool, good-looking guys with great bodies, all drink and smoke and have a good time, I didn’t do that, they lacked discipline, and that’s what I said, you know, they lacked discipline, missed class, and so on, I’ll end up like that if I follow them. And one day I woke up and saw that I needed discipline, now discipline is not a punishment because there’s a punishment, and if you’re not disciplined, the world will punish you, but you’ll also punish yourself. I realized that, and I applied to Military School. No one thought I could get in because my grades were Ds and Fs, but I had a high score. So I went to a Military School in New York and found discipline. Then I joined the Marines for more discipline, and then I became a pilot in Vietnam for more discipline. I meet a lot of people today, and I’m the same person. We want an easy path, give me an answer. Think about entrepreneurs, you’re not working manually. So you’re working with your mind, your body, your spirit, your emotions, sure, taking the time to observe, you have to have good friends, people you trust implicitly, and I have a fantastic staff, and I trust them, some have been with me for 20 years, my best partners have 40 years, and we trust each other, that takes time. When I was nine years old, my rich dad taught me to get rich by playing Monopoly, I had no idea I was playing Monopoly, and one day my rich dad said there are many ways to get rich, one of the best I found was this Monopoly game because games are the best teachers in the world. All games involve four intelligences, number one is your mind, number two emotions, you know, fear, anger, sadness, the third is physical, how do you learn to walk if you don’t fall, and the fourth is spiritual intelligence. As Maria Montessori said, what the hand does, the mind remembers, as my teacher, Dr. Back Mister, said, I don’t work for myself but for everyone, and that was the best lesson I got from the military, the military was a very high spiritual intelligence. That’s why your father and I get along so well too. But when we went into combat, which is a horrible experience for good and bad people, enemies and friends, but when we got on the plane, it wasn’t a crew of five, we became one. It’s the best feeling no matter how horrible it may seem to fly in combat because we might not come back, it was the highest feeling of all, it was spiritual. I fear it’s not just millennials, it’s humans, well, that’s right, that’s wrong, this is the best shirt I can get at the best price or he’s cute or she’s cute but there’s someone better, right? Yes, that’s exactly what’s happening, so you’re stuck in your head, and you should get more into your spirit and say what can I do for my neighbor, yes, to be for my environment, yes, and I believe the biggest secret to my success as everyone’s, we all have these we all have some degree of physical things we do emotionally I’m a lost case most of the time, I get upset, I get angry, I get sad, I get hurt, and this is good, this is bad, this is, see politics, everything is good and bad, I say but what keeps me going is the spiritual, how can I serve others, how can I serve the planet in my world because I see people chasing shiny objects, I say it’s like you’re fishing and you throw a bunch of shiny objects and the fish comes and goes, that’s what most people do, bitcoin is a shiny object, I’m not saying you can’t make a lot of money with it but most people chase shiny objects, they want to make money, they don’t build an asset, the reason I don’t do it here is because it’s the biggest risk now, this is what I know, the higher the risk, the more education you need. For example, when I learned to fly, I did it with a small Cessna around the place, there wasn’t much risk, but when I had to go to Vietnam to fly, the risk increased, I had to study more, be better, work harder. The reason most people stick to 401ks and chase shiny objects like bitcoin is because they don’t want to take the risk, here you have to study, enrich your education, coaching, all of you take courses in this come here, and you don’t need any intelligence to be here, you don’t need intelligence to buy bitcoins, I say I have four or five bitcoins I didn’t have to do anything, but to be here I have to know a lot and here too I have to know a lot.

Pursuing Excellence and Avoiding Shiny Objects

If you pursue shiny objects like the stock market and all that, you can become a millionaire. It’s very easy to get in there, and it’s really hard to be here. Comments and questions that make sense to keep chasing shiny objects, I agree with you. When you talk about how bitcoin is the shiny object everyone is pursuing, one of my favorite stories you’ve taught is about your mentor Frank when he sent you to Peru to learn a valuable lesson about maybe something that wasn’t such a shiny object and became one because shiny objects change every day, so I wanted to learn, you know, initial coin offerings, I wanted to learn about initial public offerings, like Thomas deals and you turn them into paper and then into stocks. I went to see my friend Frank, he’s the hardcore here, he founded a company and made it public, and I told Frank I didn’t know anything about Adam, I told him I wanted to learn how to do an IPO, Joe, you and everyone else, most don’t have the guts, they don’t have determination, they’re weak, I said I want to learn how much this is worth here in Scottsdale, Arizona, I said a lot, okay, today is Wednesday, go to Lima, Peru, on Saturday, how Saturday, we were shooting the cashflow game video, you know, and he says how much do you want it, I said a lot, he said you’re going to meet with my president in Lima, Frank never traveled, you’ll meet with my president in Lima, and find out how much you want it, that was Wednesday, that night I was on a plane to Lima, Peru, I paid the full fare, I paid it out of my pocket, most couldn’t afford it, they don’t have the money. I flew to Lima, Peru, I went to see three gold mines with him and Frank’s president, it was an experience and an education I would never have had if I hadn’t gone. It cost me between $15,000 and $20,000 just the plane ticket. I came back on Tuesday to talk to Frank, and I told Frank there was nothing there, I could have told you that, why did you send me? I wanted to know how much you wanted to learn, most don’t have it, they want a job, they want job security, they want a paycheck, they want paper, and that’s why they don’t come here, that’s why they can’t come here, it’s neither right nor wrong. I never wanted to be here when I was your age, I knew I wanted to come here, but the higher the risk, the higher the return, but also the greater the dedication, education, and study. So today I’m making millions and millions, I make more than most will in their entire lives, but it was worth it, I lost sometimes, yes, but it was worth it. If you go to school here, you don’t take risks, that’s why my poor father was poor, he didn’t like making mistakes. The differences between what they teach in school and what we teach in rich dad are the difference, as I said, most teachers are like my poor father, and this was actually what you’re seeing here is Rich Dad Poor Dad, you’re seeing a financial statement, Rich Dad Poor Dad is accounting, it’s the most boring subject on the planet, but the second book is about this, the cashflow quadrant, right, it’s an e a n and it’s for you. What does the employee represent? Well, what employees always say they work for money but want job security, a paycheck, and a pension. And what does the self-employed represent? Small business owners, doctors, lawyers, yes, by tips, so they’re self-employed. And the n represents big business owners of 500 employees or more, and the e represents investors, it’s more than an investor, it’s a, this is like Shark Tank, the TV show, these guys here did both things, so this was my poor father on this side, and this was my rich dad. What schools aren’t teaching you is the difference between these people and these others, that’s the big difference. And that’s noticeable when I was your age, I had to make a decision to be a pilot. Most of my friends wanted to fly for airlines, but I’d be here. Oh, I could, you know, take fishermen around Alaska around the place as a private pilot with a small plane, flying in the vicinity. Or I could have an airline. Or I could invest in an airline. That’s the difference between mindsets and skill sets. It’s hard to cross the education is extremely different between and the other side, the most important thing right now in history in 2022 is to be smart, listen to your real teachers, and by choice when I was nine years old listen to my poor father with a doctorate or my rich dad that’s a tough decision for a kid when I came back from Vietnam, I flew for the Marine Corps, my poor father told me to go back to school for a doctorate, I told him I couldn’t do it, and I became an entrepreneur, I never needed a job again. That’s the difference, it was being a free human being. I was sitting in Sunday school at seven and the teacher said hey, why were the three wise men wise and I said because they’re rich I love it and she said why do you think the wise men are rich, they have gold, incense, and myrrh and she said that’s not the reason and what is the reason and I never forgot her answer they were always looking for the best teacher and I’m not religious but they were looking for Jesus Christ. So in times of trouble always look for the best teacher I’m going to try this but you’ve seen it before but if you look at it this way this is intelligence and this this that human beings do we have mental intelligence we have physical intelligence like taker words a good golfer I hate then you have emotional intelligence and emotional intelligence we call echo is the most important because they don’t serve all the time I get angry you know I hallucinate in my head things that aren’t true but the most important is spiritual the difference between mental and spiritual is very simple mental produces two like male female good bad up down spiritual is oneself so I’ll give you an example why do I do my work yesterday I was driving down the road and I saw this young man my heart broke my standing name in the hot sun of Phoenix unemployed needed money for the kids and everything mentally I’d say get a job idiot you know but spiritually I I feel sorry for him.

Personal Philosophy and Military Experience

It’s my job, work for this, you know, I don’t need the money. As my teacher, Dr. Backman Esther Fuller, says, I don’t work for myself but for everyone, and that was the best lesson I received from the military. The military had a very high spiritual intelligence. That’s why your father and I got along well because when we were in combat, which is a horrible experience of good and bad people, enemies and friends, but when we got on the plane, it was a crew of five, and we became one. It’s the best feeling no matter how horrible it is to fly into combat because we might not come back. It was the highest feeling of all, it was spiritual. And I’m afraid it’s not just millennials, but humans, you know, that this is wrong, that this is right, what shirt can I get, and at what better price, or he’s cute or she’s cute, but there’s someone better, right? Yes, that’s exactly what’s happening, so they’re trapped in their heads, and they should get more into their spirit and say, what can I do for others, what for the environment? And I think the biggest secret of my success, like everyone’s, we all have these, we all have some degree of physical things we do, emotionally, I’m a lost cause, you understand, most of the time, I get upset, I get angry, I get sad, and usually this is good, this is bad, you see politics, everything is good and bad like many things, but what keeps me going is the spiritual, it’s how can I serve others, how can I serve the planet, can I correct this problem? There will come a point where you don’t need money, it’s called infinite return. That’s my book that will come out next year. When you realize that you don’t need money, you will be free, you won’t need money, you won’t care, you can always make a deal or create an asset out of nothing, it’s like the power of God. So when I write a book, I sell 50 copies, 50 licenses on the first day, let’s say I sell 10,000 licenses. How much is that? 50 times 10,000, 500,000. 50 times 10,000, 500,000. Yes, yes, so I’m in the black, it costs maybe ten thousand for a book, I’m in the black, same if I buy a stock, I buy a stock for a dollar, it goes up to 10, and I sell, I’m trading stocks, I don’t have money, that’s what Buffett does, they’re guys of infinite return, there’s no money in the deal, and you can do anything. Salary is one of the most sinister plots made for the human being, if you need a salary, you sold your soul, you sold your body, your mind, your spirit, and your emotions, you fear losing your job or getting a raise or when you will be promoted, I say why, why, why would you do that? And another thing, we support network marketing, we don’t think like a network marketing, we think like a business development. Because if you need a paycheck, this is not your business, we do business, when we make a deal, we may not receive a paycheck for five or six years, you know, there are people who say I want to be instantly rich and there are some people who do it, they achieve it or not, but that’s the losing mentality of the employee who wants to get rich with a network marketing, you have to change that, they lose and pay checks and wanting to get rich quickly, that’s not a business, we build businesses. That’s how we’re rich, but it wasn’t quick, we don’t need a salary ever, what we did that’s the revolutionary thinking of most people who went to school to get grades and get a job and have a well-paying job but a better-paying job pays more taxes and they wonder why they never get ahead because you went to school to get a job and a salary, you have to get away from that and it can take you two or three years to get away from that, and that’s what we want to teach you, it’s a business mindset and entrepreneurship, the losing employee who needs a salary, what do you do to make money if I sold drugs, it would be a violation of my morals, my ethics, what do you do with the money, so when I started with real estate, I learned, I learned to inspect a property, there are many kinds of real estate, so I started with what are called trailers, you know those small mobile homes, I go and think, I don’t understand, we have this guy who rents this horrible trailer but has a shiny Ford truck outside, you know I’m not going to have a shiny pickup truck but you can always learn why the guy is poor instead of owning his arm could be the same thing I do because the reason why he’s poor is because he’s always trading in for a new truck because they tell him they’ll give him extra money for your truck just sign here all that just keep getting into debt and that’s why I wrote Rich Dad Poor Dad and I created the cashflow board game and all this because we don’t teach people assets liabilities expenses income cash flow statement poor equals it doesn’t matter how much you earn, I have many friends with a lot of money you understand they have a Mercedes a Rolex a big house but a Corvette breaks them they have no fundamentals they look good they dress well they wear nice watches and nice clothes but they sell their properties because they can’t afford it you understand what I’m talking about it’s the same problem you understand it’s how you handle your money this is gold this is real security it’s God’s money just like silver and like bitcoin because of blockchain technology I’m not saying don’t buy any of them I’m just saying I own this this is real money I mean I can travel around the world as its value goes up and down I can manipulate it and spend it and this is the Zimbabwe dollar it’s fake money the only way this exists is for an entrepreneur like me to create an asset that is my book talks about assets versus liabilities so I go to BlackRock and say guess what I have a pie for you here and I say to Tesla or something like that Tesla is now worth a trillion dollars and what if well you know and biden doesn’t like tesla and it shows and he doesn’t recommend it and I’m not in a dogfight I’m not imagine that there in fact a very cheap electric car is being made you buy it for 200 tesla is toast you know good part of the stock market is based on the valuation of a company like tesla or like I said before Netflix or Blockbuster video so you don’t know the counterpart of this the only counterpart of this is God gold and silver God made that and bitcoin is blockchain it’s not something real either blockchain some tell me you’re satoshi and you don’t speak Japanese I don’t know anything about blockchain I just don’t trust it I don’t trust the dollar at the Federal Reserve I don’t trust the Treasury I don’t trust our government and I don’t trust Wall Street someone trusts you to invest but what they do is create what

I call a false asset let’s say I go and tell them you know I’m creating a company and I was there and they really do yes that’s just a matter of trust this is trusting God there’s no counterparty risk but there’s a lot of counterparty risk in this and a lot of counterparty risk in blackrock and in the stock market if you’re in Minneapolis and they vote to defund the police you’re toast what I say is your beautiful hundred thousand dollar home goes down ten thousand dollars because nobody wants to live there so understand that it’s not real estate it’s the Macro around real estate I never knew so many idiots in my life my god around the Macro just remember this you know you can buy a share of Amazon make a mistake and get out right away you buy a piece of real estate where they’re going to defund the police and you can’t get out you’ll sink along with the Titanic you know I had to sell a property in Portland Oregon a beautiful property all amenities water you know docks all that but the problem is tenants couldn’t get in because of the number of homeless people in front of the house in the end the tenants couldn’t reach the property and the police did nothing this is a cash flow quadrant the e means employee the s means self-employed or small business or a specialist like a doctor a lawyer the b means big business 500 employees or more and the i means internal investor these are passive investors they are outsiders these invest from within so the i’s are like Shark Tank like Mark Cuban and all that they’re entrepreneurs who now acquire others

Career Choices and Investment Strategies

Businesses, well, when I was probably in my 20s, while I was growing up, my father wanted me to be an employee. When I left the Marine Corps, I could fly, he wanted me to be an airline pilot, and I didn’t want that. And my mother, she was a nurse and she wanted me to be a specialist like a doctor, and I told my mother, “There’s a problem, doctors are smart, that represents them.” And she says, “You’re right, you won’t be a doctor.” She just had hope for me to go to the other side, N or L side, and so today I own many, many businesses and invest from within. Some say insider trading is illegal. It’s not illegal. There are certain parts of insider trading that are illegal, but big businesses are always in. What my rich dad teaches is that if you’re not in, you’re out. The reason many don’t make money is because they’re out, you know, now like Uber went public, the insiders already made money, now it’s the outsiders. That’s the game. In my life, I took three companies public on the Toronto Stock Exchange. That was a gold company, a silver company, and an oil company. I did it because I wanted to know what it was like to be on this side, on the N and the I side, and they are different worlds, different mentalities, different humans. If you want to go to school, here is where you will end up. Rich dad represents the people who want to be on this side. It’s a very different mentality, set of skills, education processes. This has no risk, this has no counterpart. It’s an element, it’s what I try to explain. Silver is an element, bitcoin is blockchain, there’s no counterpart risk. This is a dollar, it’s the same as the dollar, stocks, or American bonds. That’s why I don’t save in dollars, I choose gold, or bitcoin, and it can change, you know, bitcoin could be obsolete. The reason is because I listen to guys like Anthony Pompliano and the other smart guys, it’s to stay tuned to what might happen. So I pay attention to what they say on YouTube unless they cancel them, like they did with George. But you have to be smarter, ladies and gentlemen, that’s why the company was founded. We don’t sell stocks or bonds or gold, we only sell awareness to stay tuned to what’s happening. If you want to talk about macroeconomics, ask, who is the counterpart? So when I needed money, when I just started, nobody would lend me money, nobody trusted me. Who are you? Yeah, that’s why it happened, I lost a lot of money at first, I went bankrupt several times and so on. With every mistake, we became smarter, we met very smart members on this team but also thieves like our first yes-man and the second and the third very bad all thieves deceive lie steal. I can’t believe it, Kim and I were in a horrible situation, you know, the first people said we love Rich Dad while stealing everything they could. Holy God. But understand, this is the lesson we teach, every time we met a bad partner, we met a good one. Today’s best partners came from bad partners. You have to be very, very careful. My new book is coming out, it’s called The Capitalist Manifesto, but the terminology is this. Who is the counterpart of Gold? God. And who is the counterpart of this? The government. Who do you trust? Who is the counterpart of bitcoin blockchain? It’s the people’s money. I trust people more than the government and that’s why I support bitcoin. I could be wrong, possibly, that’s why I listen to YouTube, although they try to take me down. But some of them like Michael Saylor or Pompliano, they give a warning if something’s wrong. Some time ago, Kenny and I were in Dallas Texas at the Sovereign Man and everyone was there. Who says I just borrowed 300 million dollars, a man can’t get a loan of 30,000 less a loan of 300 million, but the power of real estate is debt, and the more debt you have, you don’t pay taxes. But you better know what you’re doing, because you don’t buy it for that reason. I was talking to about a party that people went to, they were talking about real estate, and I had to tell them, I can’t endorse what you guys do, buy real estate at the top of the market. Yes, but these go up all the time, maybe, maybe, but if it’s about problems, real estate isn’t liquid, this gold here has liquidity, I can go anywhere in the world and I’ll get money for it anywhere, but real estate isn’t, this ip500 has liquidity, gold also has liquidity as liquid assets in cash, I’ve been accused many times of that racist and accused of being a white supremacist, I look in the mirror and I’m still Asian. Yes, I took three companies public through Toronto first through Vancouver stock exchange to then migrate to the Toronto Stock Exchange because I did that to learn how to raise capital in public markets. The average entrepreneur never does that, they keep the pizzeria open and open another one and that’s it. Why is that? It’s just for the money, I wanted to learn something so I took my first oil company in Portugal public and I was told there was no oil in Portugal and it was the hard way, right, there was no oil and it burned fast like a plane falling from the sky, then we started a sulfur company in Argentina and we took out silver very well, yes, and then a gold company in China and the Chinese took it. So yeah, those experiences are priceless. I was sad, yes, but that’s why I did it, you understand, I did it for that. The tax department, every country has it, wants to determine what kind of income you work for. So when they tell someone your age or a parent tells a child to go to school and get a job, they work for this type of income, earned income as you can see in this diagram here, as you can see in this diagram, these are earned income and the first thing that pays are the highest taxes because you worked for money, the government doesn’t want you to work for money, it punishes you for that, they want you to hire employees or invest, so earned income is what they work for, the second

Passive Income and Financial Education

It’s portfolio income, which we can also call capital gains. So I buy a house, let’s say for a hundred thousand, and sell it for two hundred thousand. The hundred thousand is the capital gain. If I buy a stock for $10 and sell it for $20, the $10 is the capital gain. That’s the second one that pays more taxes. So reducing these, which President Trump is working on, is mainly for these types who are doctors, lawyers, highly educated people, and they have stocks. Most don’t have stocks, the working class. They have 401k but no rest, but these guys, if they’re active in stocks and that kind of thing, they have it, but the really rich work for what we call passive income, passive income. For me, I have a business. Whether I work in it or not, money comes in, and you’ve never seen me there, right? Never, Megan, right? Not being there in real estate, I mean, my wife and I can acquire more every year, we have commodities, oil wells, and such. Even if stock prices go up and down, we still have this. But this is another type of income, this here is called ghost income, they’re taxes I don’t pay, most can’t comprehend it, but let’s say my tax bill is $100,000 doing what the government wants here, I can get a deduction of almost $50,000. That means $50,000 in taxes that I don’t have to pay. So those $50,000 that don’t go to the government come back here, that’s what financial education does, it teaches you about the financial statement, what they don’t teach you in school, they teach you about feico scores which are actually final scores. Exactly, do what they tell you, okay, and for you at your age, you want to know this, that’s what they teach you, to work, ironically, when you save money and have a 401k this kind of income, saving this way has the highest taxes for me it’s stupid because if you don’t know how to save money that way, it’s okay, you know in Canada it’s called rsp and in Australia super Animation but this is what most have, go to school and get a job, this is what the rich have, a passive and it’s because I’m a passive investor and I don’t buy this because they’re passive investments. I’m active and professional in all these areas. So I work for passive income, which doesn’t mean I’m not here, checks come in and checks come in every year, you don’t see us here, neither me nor your mother, she’s also working here, and your mother’s income goes up and your father’s income goes up too and they don’t have a job, what should you do, you say get out of equities, get out of your position, stay in cash, and keep that cash on the sidelines to take advantage of the drop. What do you tell an investor who’s watching those other channels your channel? What should they do to better protect their portfolio? Well, that’s a good question because the only reason to worry is to know what you bought. Remember, a profit is made when you buy, not when you sell. I remember in 2000 gold dropped something like to 300 or something, I thought I died, I went to heaven, just backed up the truck. So when bitcoin hit 20,000, I thought that’s good, it’s interesting, it dropped back to three and bounced back almost six, I bought it at six and today it’s at 41. So profits are made when you buy, not when you sell. If you worry about your position, it’s because you bought very high. All this thing is It should be entrepreneur, it has to do with what your family said about it. My poor father used to say the rich are corrupt, businessmen are shameless, they’re greedy, what you had to do was get a college degree. Different cultures, I go against all that especially respect for father. You defended it for a long time to invest in real estate as a source of income, one of the greatest promises of Rich Dad Poor Dad still suggests investing in real estate in the real estate market now absolutely invest things that last, that jump records and it’s the ultimate, the key is this I explain it behind me even the cash flow board game there are two tracks in this game there’s a rat race the 401k and then a fast track like capitalist described here okay. And this is my law. This is book 2 of Rich Dad uh in school they teach us to be employees, self-employed like doctors, lawyers or things like that here you learn to be a business owner or a brand owner and investors. But the only way out of the rat race is through a financial statement if it’s about Rich Dad Poor Dad and if you’re around the quadrant and play the game you have to have a financial statement your financial statement is what your banker wants to see I asked for a loan of 31 million dollars a few weeks ago for a property in Houston Texas If I didn’t.

Solid Financial State and Wealth Disparity

A solid financial state wouldn’t have been able to borrow 31 million. What’s happening today is that the poor and the middle class, who went to school, got their jobs, are being eliminated, while the rich are getting richer because what the Fed prints stays in asset class, not in business class. So, finally one day, I had a transformation. I did something called, you know, I sat in the room and I realized what a liar I was. I realized I would never succeed because I could lie, cheat, and steal. So, I called Captain Abrahams, and I was living in Hawaii, making a lot of money in real estate, and I called Captain Abrahams and I said, “I’m going in.” What do you mean, going in? I’m going in. I mean, I’ll tell you what I know. You wouldn’t believe it. I realized that if I confessed my sins like a Catholic, I would go to hell. Hell is not real. Hell is living with my lies, deceptions, and thefts every day. So, I went up on the stand, I was deposed, and I said the truth, the whole truth, and nothing but the truth. I told them all the criminal events that weren’t really criminal, just petty things, stupid things like that, and shooting goats from my helicopter. I did all that, and after about three and a half hours, I think I lost 20 pounds. And I told him, I told Captain, “I’ll go to jail.” He said, “No, thanks for telling the truth.” I got an honorable discharge. It was a deep transformation, you know, metamorphosis. You go from an immature form to a mature adult form. I said, “Holy moly, the truth shall set you free.” I understand this at a level that most will never do, because I was a dishonest scum, disorderly, discipline problems. Like, for example, I never cheated on my wife. Most people cheat, 70%, but when I said I would marry her this time, I wouldn’t cheat. Marriage is very hard, but cheating is worse, you understand? And it’s not about trying to change the world, the crisis is in one ear and out the other, and in your heart. Being a military leader, a leader in wartime, is important because it’s about having courage, being honest, being frank, being straight, facing it. That’s the difference today. It’s not about what the criminals do, it’s about what you do. It was really hard because I didn’t like it. I’m really a shy person. Learning to sell was the hardest thing to do, but if I hadn’t learned to sell for four years, I wouldn’t have gotten here or here. So, all the time you were here, you were preparing to jump to the other corner. Every job is not so important for its salary or job security. Not everyone should have job security because they’re not designed to be entrepreneurs. But if you’re going to be an entrepreneur, then you protect this job and you say, “Well, which way am I going to go?” I knew my job in zero would take me here, here, here, and I wouldn’t stay here. I actually made so much money here that I don’t need job security. So, really, this is the lesson. When you look at a job, you look at how much you can learn rather than how much you can earn, and I think that’s the biggest challenge. If you look for a job where you’ll learn a lot, the harder the better, like real estate specialist. Let me tell you this, on a macro level, there are four different asset classes. Number one is businesses. I set out to build a business, a brand. Warren Buffett only invests in brands like Coca-Cola. So, Rich Dad is a brand. But to keep money, I had to have real estate. Let’s say suddenly I make a million, Rich Dad, I get into real estate and borrow 4 million, and then Dave says, “Get out of debt.” And I say, “It’s good for you, but not for me because I hate paying taxes and I like making money.” So, the third asset class is stocks, bonds, paper, mutual funds, savings. I don’t touch those things. And number five is gold, silver, and bitcoin. That’s where I make my profit. So, when I need money, I use debt, and the reason Bigger Pockets, Brandon, and David are here is because when you use debt, that’s very dangerous. You understand? I was in Dallas two or three days ago with my real estate partner, Roy, the smartest guy I know, I love him, he’s the best, he’s the smartest. He joined me on stage and I asked him, “How much money have you borrowed so far?” 300 million dollars. The air was cut in the room. I said, “Why did you borrow 300 million dollars?” Number one, he said, “We like to make money and we don’t want to pay taxes.” That’s very smart, still, I say, buy gold, silver, and bitcoin. But these could go up and down.

Investment Strategy and Market Analysis

Of course. That’s why you have to buy early. My initial price to buy bitcoin is 9,000. Understand, when, for example, it goes to 20,000, it’s a good profit. Right now, I’m impressed with bitcoin. I like the idea of blockchain. I’m learning. I’m old. I think this is the money of the future. At least, blockchain is going to help us. All the cryptocurrencies coming out, I don’t know them, but I think my friends who are into it and know about bitcoin tell me it’s an old dog and it’s the best to buy. I’m not saying you should buy bitcoin, I’m just saying I buy bitcoins. That’s a big difference. I still buy gold and silver, but I started buying gold at $50 and silver at a dollar. So, in this money, the best time to prepare for a fall is before the fall. Think about it. If I’m right, I’m not saying I am, let’s say the bubble bursts, and the guys at the bottom keep handing out checks systematically, and whatever they do, they’re criminals. How can they? I’m not a politician, but Trump was building a wall at the border, and Biden opened the doors. This country can’t be sicker. I can’t believe it. I can’t believe it, ladies and gentlemen. Now is the time to be smart and not euphoric. Now, that’s what I’m saying. I get very rich when markets crash. So, I’ve been watching bitcoin since July 2021. When bitcoin goes from 27 to 24,000, I get interested again. It’s like if Neiman Marcus was on sale. Let’s say I like Prada shoes. I love Prada shoes. Why? They’re comfortable. Anyway, let’s say the shoes cost $500, Neiman raises the price, oh, they’re now $700, people rush and buy $700 shoes when they cost $500. That’s what idiots do. Today, they’re buying stocks at all-time highs, buying real estate at all-time highs, everyone’s happy. Why are people happy when they buy at the highest prices on the market? So, I’m not going to say if Neiman Marcus says, “Well, these Prada shoes that were selling for $700 are now worth a dollar.” Guess what? I won’t say, “Oh, how terrible the price of shoes fell.” I won’t get too excited. I’ll stock up on Prada shoes or whatever, you understand? So, gentlemen, only idiots buy at higher prices, and today the world is full of idiots, full of idiots. Let me say it again. It’s an old, old saying in the investment world. How did you go bankrupt? Well, two ways, slowly at first, and then quickly. I think this is a warning for today. You have to be prepared for the fall. When bitcoin drops to 24, I’ll come back to life. I’ll get much more excited if gold drops, say, $1000, I’ll step back. If silver drops, say, 15, I’ll step back. Right now, I’m in a cash position. I’m just waiting for the fall. The smartest say that silver’s best investment is at 50% of its peak value. I love silver. I just bought more. I don’t care about compromises, but I also buy coins, as I said in my philosophy. As a capitalist, gold is for saving, and silver is for spending. So, I have to evaluate, you know, what I’m going to spend my silver on. In 1989, the internet emerged exactly as predicted. So, millennials and young people have the most powerful tool ever created in all of humanity. The question is, how are you going to use it? With an iPhone, like we do now, you can educate, inspire, teach, or you can watch porn with it. It’s up to you. It’s like football, rugby, they’re different, with different players. My wife is a golfer, you know, I play golf, but I don’t sign up for the game. She’s a fanatic, but she’ll be self-employed and those things, she’ll do it on her own. I can’t do my job alone, I can’t with rugby, only when I go to the business field, I don’t go alone, but with accountants, lawyers, bankers. That’s how we play the game, you know. The best thing I can tell any entrepreneur is to study, be active, an apprentice underneath. Ego is hard when you’re successful because when my surfboard business went to the moon, I crashed behind it, right on my head. While ego and vanity are still there. Yes, of course, I thought I was walking on water and there was no water beneath me, there was only air beneath me. And how so? So, I learned the hard way, you know, not the easy way. If you serve in the military, you’ll understand what true courage is, and that’s what I got when I went to the Military Academy in New York just because I was a troubled kid in Hawaii, surfing all the time. What I needed was discipline. And when I meet people who are unsuccessful because they lack discipline, it’s not that they’re not smart, of course, they can’t save money or manage it. Taekwondo is all about legs, you know, kicks. So, I got that in my head. And I went to see the Marines to train these guys. They don’t have feelings, they’re just tough, tough, tough. Yet, they’re great entrepreneurs. Yes, they’re dirty, they’re not good guys. But they’re tough. But I went back to taekwondo in the United States. I still do it wrong, but you know, I was a heavyweight, which means I was fat. In Korea, they’re tall and skinny like you. In Korea, taekwondo is about legs, they called it dropping the hammer. They could lift their leg above, stand there on one leg, and look at you. Can you imagine something like that, the leg in the air, and me, this little fat guy trying to lift it? How am I going to find a gap? Imagine, you could barely lift it. So, I get into the ring. And this isn’t fair. But he’s a heavyweight, he’s a skinny heavyweight, okay, but his legs are like, no, no, he’s tall like 6’8″, his legs are probably two meters long, and in the air, I have no idea, I couldn’t hit him. He made a mistake and I said without guts there’s no glory, I lunged, and the leg crossed my head, I was out. I got a job at Xerox because I understood sales. For two years, I was the worst salesman they had. I was going to be fired from Xerox, so I went to my rich dad and asked him what’s wrong. He said, how many calls do you make a day? I said about three. He said, that’s why you’re not successful. The same formula, he says, you have to fail more. You have to increase your failure

Bitcoin and Investment Strategy

So, you know, you gotta buy early, my initial buying price for Bitcoin is $9000, you understand? When, for example, it goes to $20,000, it’s a good profit. Right now, I’m impressed with Bitcoin, I like the idea of blockchain, I’m learning. I’m old, I think this is the money of the future. At least, blockchain is going to help us. All these cryptocurrencies coming out, I don’t know them, but I think my friends who are into it and know about Bitcoin, they tell me it’s an old dog and it’s the best to buy. I’m not saying you should buy Bitcoin, I’m just saying I buy Bitcoin. There’s a big difference. I still buy gold and silver, but I started buying gold at $50 and silver at a dollar. So, in this money, the best time to prepare for a fall is before the fall. Think about this: if I’m right—I’m not saying I am—let’s say the bubble bursts and those at the bottom keep handing out checks, they’re systematic, and whatever they do, they’re criminals. How can they—I mean, I’m not a politician, but Trump was building a wall at the border, and Biden opened the doors. This country can’t be any sicker. I can’t believe it. I mean, I can’t believe it, ladies and gentlemen. Now is the time to be smart and not be euphoric. Now that’s what I’m saying. I mean, I get very rich when markets crash. So, I’ve been watching Bitcoin since July 2021 when Bitcoin goes from $27 to $24,000. I’m interested again. It’s like Neiman Marcus is having a sale. Let’s say I like Prada shoes. I love Prada shoes. Why? They fit me, they’re comfortable. Anyway, let’s say the shoes cost $500, Neiman raises the price. Oh, they’re now $700. People rush, they go and buy shoes for $700 when they were $500. That’s what idiots do. Today they’re buying stocks at an all-time high, they’re buying real estate at an all-time high. Everyone’s happy. Why are people happy when they buy at the most expensive prices in the market? So, I’m not gonna say if Neiman Marcus says, “Well, these Prada shoes that were selling for $700 are now worth a dollar,” guess what? I’m not gonna say, “Oh, how terrible, the price of shoes dropped.” I’m not gonna get excited. I’m gonna stock up on Prada shoes or whatever, you know? So, gentlemen, only idiots buy at higher prices, and today the world is full of idiots, full of idiots. Everyone’s happy. Let me say it again. It’s an old, old saying in the investment world: how did you go broke? Well, two ways, slowly at first, and then fast. I think this is a warning for today. You gotta be prepared for the fall. When Bitcoin drops to $24, I’m gonna come alive. I’m gonna be very excited. If gold drops, let’s say, $1000, I’ll back up. If silver drops, let’s say, $15, I’ll back up. Right now, I’m in a cash position. I’m just waiting for the fall. The smartest guys say silver, your best investment, is 50% of its peak value. I love silver. I just bought more. I don’t care if it collapses. But I also buy coins, like I said. In my philosophy, always as a capitalist, gold is for saving, and silver is for spending. So, I gotta assess, you know, what I’m gonna spend my silver on. In ’89, the internet emerged just as predicted. So, millennials and young people have the most powerful tool ever created in all of humanity. The question is, how are you gonna use it? With an iPhone, like we do now, you can educate, inspire, teach, or you can watch porn with it. It’s up to you, it’s up to you. It’s like football, rugby, they’re different, with different players. My wife is a golfer, you know, I play golf, but I don’t get into the game like she does. She’s a fanatic, but she’d be Class A self-employed, and those things she’ll do on her own. I can’t do my job alone. I can’t do it with rugby. Only when I go to the business field, I don’t go alone, but with accountants, lawyers, bankers. That’s how we play the game, you know? The best thing I can tell any businessman is to study, to be active, an apprentice underneath. Ego is hard when you’re successful because when my surfboard business went to the moon, I crashed behind it, right on my head. While ego and vanity still there. Yeah, sure, I thought I was walking on water, and there was no water beneath me, just air. And how so? So, I learned the hard way, you know, not the easy way. If you serve in the army, you’ll understand what real courage is, and that’s what I got when I went to Military School in New York just because I was a complicated kid in Hawaii, surfing all the time. What I needed was discipline. And when I meet people who are not successful, it’s because they lack discipline. It’s not that they’re not smart, sure, they can’t save money or manage it. Taekwondo is all legs, you know, kicks. So, I got that in my head, and I went to see the Marines to train these guys. They have no feelings, they’re just tough, tough, tough. Yet they’re great businessmen. Yeah, they’re dirty, they’re not good guys. But they’re tough. But I went back to the US and went to Taekwondo. I’m still bad at it, but you know, you get a black belt. Well, American black belt. There’s a difference between American Taekwondo black belt and Korean. It’s a different kind of belt, you know? And then I go there and fight for America because it’s awesome. You know, getting beat up. Let me explain, I was a heavyweight, which means I was fat. In Korea, they’re tall and skinny like you. In Korea, Taekwondo is all about legs. They called it hammering down. They could lift their leg up, stand there on one leg, and look at you. Can you imagine something like that, a leg in the air, and me, this little fat guy trying to raise it? How am I gonna find an opening? Imagine, you could barely lift it. So, I get in the ring, and this is not fair. But he’s a heavyweight, he’s a skinny heavyweight, okay, but his legs are like, no, he’s tall like an 80, his legs are probably two meters. And in the air, I have no idea, I couldn’t hit him. He made the mistake, and I said, without guts, there’s no glory. I lunged, and the leg crossed my head, I

Banking System and Financial Strategies

The New York banking system has nothing to do with communism or capitalism. It’s the banks that control the world. The rich run the world. They don’t care if you’re a communist or a capitalist. So, when you save, let’s say a dollar or a euro or a yen, the banking system can lend out 10. So, the whole system is called fractional reserve banking. The fractional reserve system also prints money. They tell you to save money; they want you to save money so they can lend out your money ten times. So, your dollar devalues ten times. They used to pay 10% interest; now it’s 1%, if you’re lucky, and they still lend out ten times. That’s why you don’t save money because your money becomes worth less and less and less, and less, and the banks get richer and richer. They charge you interest on what they pay you, that 1% interest they pay you, in Japanese, 0%. Japanese are so stupid; they keep saving money. We also have zero, and they save money. How stupid is that? So, I question that, how that happens. If I borrow money, guess what? I pay taxes on the debt. I suppose not. And why do I? This is what I’m saying. Question everything. Okay, when they lend you money, this is how they create money. Money is debt they lend. And why is debt tax-free? I don’t know, because that’s how money is created. And the banks love it when people borrow money. And how do I get rich? I borrow money and buy assets with it. The poor person borrows money and buys liabilities like handbags, cars, houses, and they become poorer and poorer and poorer. But I use debt. I borrowed $300 million after the crash in 2010. I borrowed $300 million to buy a real estate. That made me rich, and interest rates kept going down. So, the cost of money kept going down. And other people say, “Oh, I should get out of debt.” You know why? Because they don’t question it. They’re under the hypnosis they’re under. They’ve been hypnotized to work hard for money, to save it. The fractional reserve system prints it, and then you pay tax after tax after tax. So, I have all this debt, and I get rich. It’s a great time to be an entrepreneur because if you’re smart and you have a good spirit and you learn fast, so the best thing is to learn fast. Well, when you look at the seven deadly sins, the biggest tragedy is ego. Ego or glory is the straight path to hell. And I tell you, I’ve made mistakes. I definitely won’t be a saint, so it’s better you be honest. People trust you, and keep your word. You’re only as good as your word. So, actions and words must be integral. That’s why in 1997, I created a great board game, Cashflow. It’s the only game that teaches you accounting while having fun. So, the Cashflow game, you play it at least ten times, every time you play, you learn something new. Well, what the game does is you have to move little pieces, and then you write. It shakes your neurons. You have to train. The most important thing is to change the neurons in your brain. And the brain is driven by your heart. What I mean is someone with an employee brain says, “I want job security. I want a pension. I want medical benefits.” That’s the brain talking. I can’t help it. You have to rewire your brain because the economy takes place in this ear and this ear. That’s where the economy goes, and in your heart and your gut. I started playing Monopoly when I was nine. Everyone plays it except in real life. Four greenhouses, one red hotel, tax-free. And if you really want to be rich, you have to learn to sell, how to use debt, and not pay taxes. That’s the game. And that’s why I said when the iPhone came out, I said you millennials or you entrepreneurs out there, that cellphone is a lifesaver to get out of this mess, use it. So, what we’re doing today is being fragile. You know, leaders in wartime, and we’ll come out better from this. I don’t know how, but it’s called betamorphosis. Metamorphosis is like when a butterfly, when a caterpillar turns into a butterfly. That’s metamorphosis. And the definition of metamorphosis you can look it up in the dictionary. It’s the transformation from an immature form to an adult form. From an immature form to an adult form. In other words, growing. Some of us, this crisis, will make us grow. We’ll come out of being fragile to being stronger and healthier. And that’s why you see my tweets. Understand, the best teachers are on YouTube. They’re not in school because most teachers, and Jordan Peterson said this, he’s being attacked by his own colleagues, fake teachers because they’re fake. Understand, these men have a pension, job security, they need protection. The world is a terrible place. Capitalists are scammers, and all that is a free country. You can listen to them if you want, or you can listen to Patrick or Mac David. The difference between a military leader and a leader in peacetime is very clear. One of the most important lessons that everyone should ask themselves today, am I going to be a military leader and get out of this fragility? And be stronger, better, and healthier? Or am I going to be crushed by what Ford called the universal money crutch list? I encourage anyone listening or any entrepreneur to get to the point where you no longer need money. It’s called Infinite Return. That’s my next book coming out next year. When you get to the point where you no longer need money, you’ll be free. You’ll never need money no matter what. You can always make a deal or create an asset out of thin air. It’s like the power of God. So, when I write a book, I sell 50 copies, 50 licenses the first day. Let’s say I sell at $10,000 a license. How much is that? 50 times 10,000, 500,000. 50 times 10,000, yes, 500,000. So, I’m in the black, maybe costs $10,000 to write a book. I’m in the black. Same if I trade a stock, I buy a stock at a dollar, it goes up 10, and I sell, I’m trading stocks, and I don’t have money. That’s what Buffett does, guys. That’s Infinite Return. You have no money in the deal, and you can do whatever. Nowadays, people complain that there’s no money in Romania. I have a cellphone; I can make money all over the world. I can’t make money in dollars, James, pesos, you know. It’s just limited thinking. If a person doesn’t change that thought inside their head, the real thoughts running through their brain, which are words, will never change. So, change begins when you question. Go

to school, get a job, work hard, pay taxes, save money, get out of debt, invest in securities until you, until you question that, nothing will change. There are three types of income, ordinary income, portfolio income, passive income. When you tell a poor child to go to school and get a job, they work for the basics. With the highest in the world, I don’t work for the basics. I don’t want a paycheck. Okay, passive income is what happens when you invest in the stock market, portfolio income. So, they tell you, I bought a Tesla at $100, it went up to $200, and I sold, so I made $100. That’s portfolio income. It pays the highest taxes. So, if I get passive, it’s tax-free. With passive, you have to know what you’re doing. That’s why I have the best in this, accountants, lawyers, bankers. Operate as a team, just like my mind when we’re in combat, a team, most try to do it themselves. You’re a good computer programmer. Well, you pay high taxes, you work hard, and you don’t get out that way. That’s what most want to do, by themselves. You want to do it right, do it yourself. An employee always has the same words in their head. I’m looking for job security with benefits, a salary, and a pension. Understand, that’s what they’re looking for. So, if I have a job, while an entrepreneur says, I’m the best, I’m going to hire the best, but the government is going to penalize you for that because you’re working for income pretty mixed up are passive income. They’re actually ordinary income. What I’m saying pays high taxes. The tax law is nothing but incentives, not punishments. So, if you donate, yes, if all no money to the food bank because they don’t have food for $10,000, I don’t pay taxes. If I don’t donate money, I’m not tax-free. Why do I have 7,000 rental houses? I don’t pay taxes because it provides homes and because I have thousands of employees tax-free. Even the government sent me money to pay them. What do you recommend people do in a market that’s potentially heading into depression? Should they save cash and think about being more liquid? What are some of the things they should do? Well, it depends on the money. If you’re in Argentina and you have pesos, Argentine pesos, yeah, I wouldn’t touch them.

Rey Dalio on Investing in Gold and Silver

Rey Dalio: So, he says, it depends on the currency you’re in, of course. Like in Zimbabwe, debt is financed with external money. In Japan, it’s internally financed. So, depressions don’t affect them as much. So, you have to learn a lot about that. So, I have millions and millions and millions and millions in gold. I started buying in 1973 when it was illegal for us. I like gold and silver because there’s no counterparty risk. There’s no other side to gold and silver. It’s God’s money. And people say it’s not a good investment. Yes, but I sleep at night. How much is that worth? I say, I don’t care about the dollar. The dollar is corrupt. The dollar is corrupt, but it’s the strongest currency in the world of the horrible choices. So, if you save in dollars, and if you’re in Argentina, save in gold, save in Bitcoin. Do you think Bitcoin would be — no, what I’m saying is that Bitcoin has problems too. What I’m saying is, when you save money, what currency do you have to decide on? In what currency? The same people who went to the best schools created these fake assets to make themselves along with the six big banks richer than ever. They produce sugar highs of immediate profits but separate those who take the risk from those who would bear the consequences. The way out of that is financial education. And you can do it. Everyone can. But you have to understand the game. After 1971, this is what happens to people who save in money. The purchasing power of the dollar goes down because they print so much money, and they’re fake. They’re good people. They’ll all tell you to save in money because when they print more than you can save, it’s bad teaching, bad financial advice, horrible. What they say. And then the second thing is, save the money and invest in stocks, bonds. And this guy is saying, You’re crazy. This is Stockman. He was Reagan’s budget director. He’s a real master. It’s because the stock market is made for the rich. It’s like a casino. The casino depends on losers coming in for the people on top to win. So, the losers came right here in 1974. There was something called the 401k. They needed more losers to enter the market. And what financial planners tell you is save money and invest long-term in the stock market. They need people to come here and push this up. It’s a casino like Las Vegas. Losers go in, and winners come out with the money. That’s the game. They organized hedge funds that turned owning a stock into a minute-to-minute bet instead of a long-term investment. It’s a casino. We don’t know when, but it will come down. So, all those guys for one reason or another are fried. That’s why the company was formed. That’s why I catch so much hell saying savers are losers for investing long-term in the stock market. It’s a casino. My concern, mine and those who do what I do, are sitting with a bankrupt retirement plan. I say the California retirement system is bankrupt. Hawaii’s retirement system is bankrupt. Chicago’s is bankrupt too. And when this baby falls, my generation is fried. The way out of this is real financial education. The number one is to invest. Invest in what you love. I love businesses. I love real estate. I love it. I own this building. And I love gold and silver. So, I invest in what I love. Most people say do what you love, but I prefer to invest in what I love. I love being an entrepreneur. I love investing. It’s like Shark Tank to me. I’m always looking for new businesses. It’s like a game. You understand me. When you look at the financial statement, it’s like a scorecard. It’s like the one used in golf. It’s your financial statement. But as you know, they don’t teach financial statement in school. The property was a small one-bedroom, one-bath condo. $18,000 was on Maui beach. The reason it was so low-priced was that the market had crashed. Smart investors always wait for the fall. The market crashed. I always had to look at properties. Once I got out of class, three days of class, I had to look at 100 properties in 90 days and write a one-page report on each of them, as my instructor told me. When I left that three-day class, I was 26 years old, and the instructor says, your education begins when you leave the class. Like your education will begin when you leave this class. Not now. So, you can talk to Carlos or you can talk to Álvaro. Talk to them. Find out. Learn. It doesn’t cost you money to change your ideas. So, being here, the instructor told me I had to borrow and buy the investment for zero money. Okay. Zero money. Many people will tell you I can’t invest because I don’t have money is a loser. Please understand this. This was in 1974. The dollar had just come off the gold standard. Everything was rising rapidly. So, I had to figure out how can I buy it for zero. And the reason I say this is because most of the poor like my poor dad always say I can’t afford it. I know some of you right now are saying I don’t have time. I have kids. I have a job. I have bills to pay. And those are excuses that keep you poor. If you don’t change that talk in your head, you’ll always be a poor person. So, there were 32 of us in my class. The class lasted three days. I think only three people completed the exercise. We went and looked at properties. We wrote a report sheet. And at the end of 90 days and 100 properties, this was the best property. So, I went back to that person, and they were bankrupt right on the beach as nice as this beach here. And they said, I had to have $2,000 down. This is called equity. That’s the language of money is equity. The bank was going to lend me $16,000 debt. Okay. That was the deal. Now, I had $2,000 in cash, but the deal or the exercise was to buy it for zero. So, what I did was pay for this property with a credit card. So now it was 100% debt. With that 100% debt, I made $25,000 a month. I was a free human being. I didn’t need money again. You can make money without money. That’s called infinite return. It’s a deal without money. The most important thing for these people now is to choose their teachers well. And I congratulate you for trying to help people as if I could leave something to the people listening to you right now. It’s a compliment. They’re in search. They’re looking for answers. But it all comes down to who your five friends are. Are you happy with them, or is it time to walk away? Our job is to be leaders in wartime. To be brave. To have courage

. To improve our skills. To improve as entrepreneurs. Learn to sell. Learn to communicate. Not learn my problem. Patrick, is that I anger people because I attack them. Being a Marine is not brilliant because I like to fight. And that’s why I had to go to military school to discipline myself. So, if you’re on that side, I have young people, you know, I have many friends whose children are wimps, idiots at home sucking their thumb, and now they’ve lost their job. They want to get another job or as I said before, they earn more sitting at home sucking their thumb. And we’ve lost another generation. So, it’s time to be a war leader. That’s why most athletes lose everything, go bankrupt in six years or something. They lose everything. Of course, a lottery winner. Yes, because money won’t make you rich. What I’m saying is invest your life experience in your mentors. So, the story of Rich Dad Poor Dad is choosing between two teachers. What I’m saying is if I followed my poor dad, I’d be a government employee in Hawaii or a tenured professor. I say, yeah, it’s a tough choice. You have to choose your teachers well. I spoke to a guy who says, well, I have a private pilot’s license, you know, this is called being the great.

Perseverance and Financial Education

I say, you don’t need a license, but I have aviation medals. He doesn’t know what an aviation medal is. You know, an aviation medal counts how many combat trips you made and came back alive. That doesn’t mean you’re a hero or anything because I wasn’t. We were just happy to bring my crew back alive; that’s what mattered. But to reach that level of flying, it’s the same as investing, I believe that’s what I learned, dedication not to be the best pilot but to be the best I could be. If I wasn’t the best I could be, people died. For others, it’s okay to be mediocre, I hope you understand me. But when you’re in that situation, going in and out of combat zones, I went down three times and came out, but I wouldn’t be back today if I hadn’t practiced to be the best.

When I go into the world of money and investing, I’m still not, you know, I’m not Zuckerberg or those guys. But you have to be the best you can, and that’s how I can invest in the stock market, diversify stocks, bonds, and other ETFs. If you’re not willing to be the best you can be, that’s the best for you. You’re an average person, there’s nothing wrong with that, but there’s something inside each of us that makes us want to be the best at something. When I was reading your story, I think that’s what drives people to ask, “What do I want to be the best at?” And that’s why I love the Marine Corps. I hated it when I was in it, I tell you they’re not polite. But they demand that you give your best. So today, I carry those traits. I went to military school after five years in the Marine Corps, flying and all that. So when I go out with my friends, they also want to be the best. Some of my books say, look at what five people you spend your time with. If they don’t strive to be the best, you’re the same as them. A big lesson for you is that it has nothing to do with the house, the car, the student loan. It’s about where your money flows. If money flows towards your income, towards your pocket, it’s an asset, it’s good debt. But if you’ve taken money out of your pocket, it’s bad debt. Those are good and bad debts. If you’re going to be successful, whether as an employee or an entrepreneur, you have to control the direction of your cash flow. My first property was there in Maui, Hawaii, it was in ’70, I bought it with a credit card. Wow, the property was $18,000. My first, but I had taken real estate classes, so I knew to look. I found that property, it took me a long time, but when I found it, I broke my credit card to buy it and only put $25 down. So, if you want to find your soul, where your soul is, let’s establish this, every time I flew, I could go down. I wasn’t flying for me; I was flying for my two young gunners, 19-year-old kids with kids. If I didn’t do the best job possible flying that plane over the ocean, their kids would be without a father. I mean, people who don’t have it in life, they don’t really have that soul inside, the soul is there, make no mistake, it’s there, but they haven’t seen it yet. So, today, I think we’re entering a great depression. I hate to say this, but are you ready for it? I am, you know, I wrote a book called “Rich Dad’s Prophecy” and said the biggest stock market was coming in 2016. So, the biggest crash in history came in March 2020. We’re entering a depression, you know, I hope not, but I would say there’s a 60% chance now. For someone with soul and spirit, it’s the greatest opportunity. So, these are the four words: income, expense, asset, and liability. And the last two are the words cash flow. And that’s why the game is called cash flow. And the secret to being rich isn’t a university education but being able to control cash flow. And that’s what cash flow is. It looks like this, income, expense, asset, and liability. Again, you have a job, and this was my poor dad. Go to school, get a job, get a PhD, and this here is cash flow. So, income comes in and out this way first, many into expenses and taxes. So, poor people have this pattern, it’s not about how much money you make. Most people don’t care if you have a PhD or an education at all. They can’t control the flow of cash out through their expenses. That’s why the rich say cut up your cards and live below because you’re a spender. So, that’s a poor person. This is the middle-class person’s flow pattern, and here, the house comes in. Most people do when they get a raise, they go and buy a bigger house or my house is an asset. Who says that? Your real estate agent, of course. Yes, because they want to give you that false sense of security while they lie to you exactly. You know, when you look at what happens with a house or a personal residence, I mean, where I live, money comes in and out. And this is the middle class, but it also goes out through a mortgage, mortgage payments. But I don’t have a mortgage. But you still have taxes, you know, Hawaii raised property taxes on me, I’m going to sell and get out of Hawaii, but you have taxes and maintenance. So, money always goes out. So, that’s why your house is not an asset because it’s taking money out of your pocket, put simply, assets put money in my pocket, liabilities take money out of my pocket. And then this here, I’m not saying don’t buy a house, but this here is a house. And I started when I was 25, I bought my first house, it was an apartment, it was for investment. I didn’t live in it, I rented it, put money in my pocket. So, it’s very simple, the definition of an asset or liability, it’s not the house, it’s the flow of cash. Where is the money going? And if you’re young, also to millennials and old folks, financial intelligence is that you can control the flow of cash. This is the difference between rich and poor people, the people on this side are always trying to save money. It doesn’t make sense to save money because after ’71, the United States took the dollar off the gold standard, and the dollar became debt. So, people who save in money are the biggest losers. The biggest winners are people who know how to use debt to get rich. Yes, debt is money. So, after ’71 when Nixon took the dollar off the gold standard, money was debt. So, losers are savers, as Kenneth says, you put your money in the bank as a saver, Kenny goes and borrows it as a debtor

, and we use the money to buy millions of dollars in real estate. So, I just crossed over a billion in real estate using debt, but most people say I can’t, I can’t, I don’t have that money. You don’t need the money because lesson number one says the rich don’t work for money. So, we’ll learn to use debt to create assets, and those assets will put money in our pocket. What’s your definition of greatness, getting up every day, at my age, you have to worry about that, you know, I say my plan, you know, was to die at 72. I almost died so many times, I went down three times in Vietnam, my days were numbered from the start, from open-heart surgery for cancer, I had pneumonia, I had malaria, what everyone talks about with covid-19, I was there, you know, but every situation inspired me to be healthier, and this crisis should inspire people to be a winner or make a loser. I don’t know where I want to go with this, but everything that’s bad is good. And everything good can be bad. This is the financial statement. What makes the game of cash flow different from Monopoly is what my father taught me about Monopoly is what he taught me about.

Understanding Financial Statements

So, this game teaches you the financial statement. So it’s very simple. When you look at the financial statement, there are incomes, there are expenses, there are assets, and there are liabilities. There’s one more thing in the cash flow statement game that is the most important statement, it’s surely the most important of all. It’s called the cash flow statement. So if you’re going to be an entrepreneur or a capitalist, you have to have one. The rich have one of these, but 99% of students or college students have no idea what this is. They have Falco scores, but they don’t know what this is. So when the banker asks you about your financial statement, they want to know how smart you are. So I’ll tell you that in school, they manufacture poor students, it’s as simple as that. Let’s say I have a master’s in art or a bachelor’s in arts or something like that. They teach me something about income and about Greek mythology, there you have it. I don’t learn anything about income and I wonder why kids drop out of school, young generations looking for a well-paying job. But let me ask you this, if you have a degree, let’s say in technology, do you learn something about assets? Never. So you can be a technician and not know anything about this, and you can be a technician and not know anything about this either. And when a banker looks at your finances, they see a reflection of you. This is a reflection on you, and if you’re robbed here and you’re robbed here, you’re not financially intelligent. So this is why this game is very important. It teaches you what’s important for your bank or for a capitalist or for an entrepreneur because entrepreneurs have to know how to increase their incomes, and an entrepreneur has to know how to create assets. If you don’t know these two things, you shouldn’t be an entrepreneur. You should be an employee because you’ve come this far. I want to celebrate you. Most people start and don’t finish. Most never follow through to the end. Most say they want something but never do the work to get it. But you’re different. You’re special. You were born to believe. You made it this far to the end, and I love you. It’s a special celebration. If you put a hashtag believe in the comments of this video, I’ll show and celebrate you somewhere on the screen in a future video. You’re amazing. If you want to see the best tips from team Story, watch the video next to me. You’ll love it. Keep believing, and I’ll see you soon. Sometimes we must fail to be able to succeed. Let’s use our experience as our own sanctuary with someone I know will come out.