You will achieve your FINANCIAL FREEDOM if you DO THIS… | Robert Kiyosaki in Spanish

Financial Education and Market Analysis

If you’re going to be a wealthy man, it’s better that you learn two things right now. Taking into account what’s happening in the world today, I think it’s better that you start educating yourself because we are in serious financial trouble, very, very seriously. With this, the repo market collapsed again, which it already did in 2008. I meet people who tell me, “I’m going to, the FED is going to raise the rates, get into the real estate market,” and I’m like, “Where were you 10 years ago when everything was going up at great speed?” We had a dinner a couple of nights ago, and this person was telling me that they had just gotten a real estate license and that now they were actually thinking, “What the heck is this people, the Fed is going to raise the rates, we are at war with Russia.” I mean, what the hell are you all thinking, those of you who have a 401k, especially the elderly, could be in serious financial trouble because the US has stopped producing, we have stopped doing things. We have a “bubble,” and all the US has done is produce bubbles. So, we have a bubble in real estate, a bubble in stocks, a bubble in bonds, everyone is happy, they think they are getting rich today, and I’ve never perceived it as terrifying. On the other side of the coin, as neither knows or what McElroy knows now, they wouldn’t have been able to see their butt until after 2008. Since we bought real estate when it crashed, the problem is that the witch is everywhere. The perfect storm is the biggest bubble in the history of mankind, so it’s going to be big. This is the perfect storm, I mean, you just mentioned the repo market, we have interest rates that are going to skyrocket, the Fed’s already announced it, and inflation is out of control. I’m paying six dollars for a gallon of gas; we have problems with the US supply chain, the Ukrainian situation could turn into World War III at any moment. All of this simply leads us to the perfect storm. I also see us heading into a recession very quickly. I also believe this will end with the 401ks there, with the pensions, well, this is the book I wrote with a friend of mine titled, “Who Stole My Pension.” This is going to be one of the biggest problems for my generation, the boomer generation, because we were the first generation with a 401k. The 401k was created, I think, in 1974, and it was like, Jesus, it’s going to save us because we were going to be given a pension. In my opinion, it was one of the biggest screw-ups I remember because they sell it to these people who know nothing about investments, and now they’re counting on Wall Street. Suing pension funds to keep them alive in their final years. Here’s this book written by, who made a fortune suing pension funds because they’re criminals, they’re criminals, they simply stab people. I see very frequently people coming to me saying, “Well, my pension is guaranteed; I have it in writing, it’s a contract, they assured me.” They worked 30 or 35 years, busting their butts, thinking they were going to have lifelong income, and then their spouse dies, and it’s going to continue to be paid, only to find out that these pensions are being challenged in court successfully. And when I say successfully, it means the company is winning, the employee who long-term gave everything they had to have a golden parachute is seeing their benefits cut by 30 to 50 percent, and this is just the beginning. I talk a lot about this in that book because now we’re starting to see a wave of lawsuits because there’s no money in these pension plans, they’re underfunded. So, I don’t care if there’s a contract or not, if there’s no money, there’s no money in it. In 1974, the first 401k was marketed; it was called ERISA, Employee Retirement Income Security Act. I was still in the Marine Corps; I was flying out of Hawaii, and I went to listen to these.

Insights from “Rich Dad, Poor Dad”

I thought, these guys don’t do anything but lie through their mouth. My father was rich, and the advantage he had, he had a rich father and a poor father, and my poor father in the village, he was a poor helpless and desperate father. He ran the Hawaii State school system, and he thought the 401k was wonderful. Water had to be joking. My father is rich; he was my best friend’s father. He said, “Oh my God, they’re talking about a deal to steal money from stupid people called employees.” So, I saw it differently, that was 74, the first thing my rich dad told me was if you’re going to be a rich man, you’d better learn two things right now. First, be an entrepreneur because you have to learn to sell. My first Real Estate course, second, learn about real estate because real estate is debt and taxes. What did he mean by debt and taxes? So, in 1974, I took my first real estate course, and it opened my eyes because I understood that I didn’t need money to buy real estate, and I also didn’t pay taxes. Just before leaving the Marine Corps, I got a job at Xerox and learned to sell, so I learned sales and then real estate. So, why am I a rich man and why do you take courses, learn to sell, and learn about real estate? My poor father, the one with a doctorate, said, “Go back to school, get an MBA and a doctorate.” I’m not going to. I met John; I’m not going to end up like him, a poor man with a 401k. By then, I used to attend all these little seminars on why you should buy a 401k; online school teachers flock because the next profession after being a school teacher was selling 401ks. There I met John; at first, I didn’t like him at all. I told him he was an enemy to me. John used to train people to sell things, so we really come from the same point of view, it’s education, not selling people, it’s not right, absolutely 100%. So, when I met him after Rich Dad, Poor Dad, back then around 2000, 2008 to be more precise, the repo market collapsed, house flipping, the house of cards fell. I warned CNN’s Wolf Blitzer, telling him the house of cards is going to fall because I studied these things, and I find him telling me that people were doing house flipping. It was funny because he would tell me it was a type of real estate, and I would reply that it was probably a flip, was what he told me. You know, I also hate flippers; I don’t like flippers or 401k sellers, so I kept talking to him when he told me he was doing house flipping. For me, it was like oh my God, who, and he was one of the first guys I met who really followed what my rich dad had taught me to do, which was like acquiring real estate with no down payment, to use 100 percent debt, and not pay taxes with that. He and I have become damned billionaires; we’re billions of dollars in debt, but debt makes people rich with financial education. So, what happened after 2008, after the collapse of the repo market, after the house of cards fell as I warned on CNN? We made fortunes because it was a collapse. So, what you’re saying is we’re going to crash? I’m not saying it’s going to be the biggest opportunity of your life if let me tell you, it’s that we’re heading towards a crisis, possibly towards a depression, and as people have already said, they don’t have money. When our friend Joe Biden removed the Kingston excise tax, inflation skyrocketed. Disaster for the poor; this annihilated the poor because they can’t afford to eat. Since oil, I’m an oil guy who went to school and worked for Standard Oil when the price of oil rises, fertilizer rises, fertile eggs rise, food rises. My question is how close is disaster for the poor in America in days, and it’s not an exaggeration, it’s coming, there’s no doubt about it. I could teach you all the statistics you want, and traditional financial planning methods don’t work, period. And I hope you enjoyed the video, make sure to hit the subscribe button to see more amazing videos like this, this has been Brilliant Minds, thank you for watching.