Robert Kiyosaki's Secret: You’ve Been Trained To Be Broke - Eye Opening Speech
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Motiversity family, it's Marcus Taylor here. And I want to thank you so much for tuning in to Motiversity's Motivation Daily Podcast, one of the top 50 podcasts in the world.

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And unfortunately, our school system says if you fail, you're stupid. That is not true. There's no such thing as a bad economy. And the willpower is to change our internal economy. So for me, I can see the good and I can see the bad. I don't really give a damn because I'm going to be rich anyway.

But a poor person with a poor personal economy, all they're going to see is a bad economy. He says you always have to look at the big picture. Too many people look at, well, what's going to happen to me? When you look at the big picture, you're also going to know that when something bad happens, something good is going to happen. But you've got to prepare for whatever is coming. If you think the next 20 years will be like the last 20 years, you're going to be creamed.

You know, when you and I go to the supermarket and we buy a carton of milk, we always check for the expiration date. But most people do not check for the expiration date on their brains. Because the school system will never teach you about money. The school system was designed to teach you to be an employee, which is important, or a doctor or a lawyer, a specialist.

but never about money. You've really got to understand what is risky and what is not risky. And in my world, if you play it safe, that makes you stupid. Because if you don't take risks, you don't get smarter. And when somebody says, what is risk? You have to look in the mirror. I mean, for me to fly in Vietnam, that was high risk. But the higher the risk, the more you have to study. You know that. I know that. Well, first of all, everybody can do something.

but they won't. And that's the problem. The point is, everybody can do something, but you've got to figure out what you can do. Poor people say, "I can't afford it. I can't do that. I don't have time." Because this is an escape. It's an escape. So I remember raising my hand when I was nine years old, talking to my fourth grade teacher, and I said, "When am I going to learn about money?"

And she was this woman who should have retired 50 years earlier. She was so sick and tired of kids by this time. And she says, "We don't teach money at school." I said, "Why not?" And she couldn't answer me. And she got very flustered. She said, "Sit down, take your seat." And then I got curious. I said, "Why don't we learn about money?" I go home and ask him, I said, "Why don't we learn about money in school?" And he looked at me and says, "Because the government doesn't let us teach that subject." The government tells us what we can teach and what we can't teach.

I thought that was strange. I said, "But aren't we going to school to learn about money?" He says, "No, your job is to get a job." I said, "But you get a job to earn money." He goes, "No, you're supposed to just get a job." I went, "No, no, no, no, no. Isn't the purpose of a job to earn money?" He goes, "You're correct." I said, "So why don't I just learn about money? I can skip the job part." And he got flustered and he said,

Look, and my father was, for Japanese, very tall, six foot four, and an imposing man, good guy. But he says, "If you want to learn about money, why don't you ask your best friend's father about money?" And I said, "Why? That's Mike." He said, "Why ask him?" He says, "Because Mike's father is an entrepreneur." And I said, "What are you?" He says, "I'm an employee. I'm a government employee." I went, "What's the difference?" He says, "The difference is an entrepreneur must know about money."

or they're no longer entrepreneurs. And he says, "An employee doesn't have to know anything about money because the government will take care of them, the company will take care of them." And finally, through persistence, my rich dad started teaching me about money on one condition, and that condition was he would never pay me. He says, "The moment I pay you, you think like an employee." He says, "That's the trap. Entrepreneurs work for free." And now I'm nine years old, my head's going cracking in half. He says, "You never want a paycheck. You understand that, kid?"

He said, "Okay, I got it." And he said, "Well, how do I make money?" He says, "That's what entrepreneurs figure out." He refused to accept a paycheck. He says, "The moment you accept a paycheck, your brain goes dead." He says, "As long as you're hungry, you'll think." So let's say if everything they teach you in school doesn't work, what if we get rid of school? Then what would happen? Would it be better if we had no educational system at all? When you go to the supermarket, you buy a carton of milk, the first thing you check for is expiration date.

You know, if the expiration date, let's say it's March 1st and, you know, it's already July, you better not drink that milk. The same thing happens inside our brains is when we have obsolete ideas, we get obsolete results. So what's happening for most people, the idea of going to school, getting a job, working hard, saving money, getting out of debt, buying your house because it's an asset and investing for the long term is obsolete.

So if you're not going to study, you're not going to practice and all that, then you should do what Wall Street tells you to do. Buy 401ks, mutual funds, ETFs and all that. But that's where they're fake assets because they only make Wall Street or the city of London rich. Just watch where the cash is flowing. So what happens to entrepreneurs who go out and they get their ass handed to them and they survive, if you survive?

You see the world differently. We all have fear. To be truthful, we all have fear. It's just how you deal with it. And Einstein said, "Imagination is more important than knowledge." But knowledge empowers imagination. And what most people lack is real business knowledge, like accounting, like debt, like taxes. You got to know that stuff, but they don't teach it in school to anybody. First of all, let's go back to what is financial education?

It's not get a job, work hard, save money and invest in a well-diversified portfolio of stocks, bonds, mutual funds and ETFs. That's not it. You know, money is... The financial industry is two things: debt and taxes. Debt and taxes. So when I came back from Vietnam in January '73, the first thing my rich dad said to me was go to school to learn how to invest in real estate. It wasn't real estate. It was how to use debt and taxes.

Debt and taxes make the rich richer. Debt and taxes make the poor and middle class poorer. But when I make a million bucks, I keep a million bucks. And the reason is because I don't make it by working for money. See, if you work for money, you're taxed.

So that's why lesson number one in Rich Dad Poor Dad is the rich don't work for money. What we do instead is we create businesses as entrepreneurs. We acquire real estate. I don't invest in the stock market. So the reason is because as entrepreneurs I have more control over my income, how much I make and how much I pay in taxes.

And because I'm an entrepreneur as well as an investor in real estate, I pay zero tax. And yet people, "Well, I want a high paying job." Well, that's an obsolete idea. Get out of debt is an obsolete idea. You should learn how to get into debt, how to use debt to get rich. And they'll never teach you about taxes. The reason the 1% is way up here and the 99% are going this way is because when you print money, two things happen, inflation and taxes.

Go to school. What do they teach you about money? Nothing. Get a job. You pay the highest taxes. Pay your taxes. I don't pay taxes. Get out of debt. Well, debt, money is debt after 1971 if you know your history of money. Your house is not an asset. Your house is a liability. And why would I invest for the long term in the stock market when I can make my own assets? I don't need the stock market. I'm not saying you shouldn't.

But I create my own assets. I create my own cash flow. Financial intelligence is the ability to control cash flow. You'll pay most of your money will go out through taxes in your lifetime. And then they tell you to buy a house and a car. A car is an asset. No, a car is a liability. You got insurance, gas, upkeep and all this. So you're working for a big company like Google. You might be safe today, but you might be gone tomorrow. Whereas your little startup, you might have a better chance.

There's something everybody can do. Like I said, everybody can buy a $20 silver piece. Everybody can afford $20. Will they do it? No. They'll be at Starbucks sucking it down instead. It's easy to say, I can't afford it. Oh, I'm too tired. Oh, I can't go to the gym. When you could go to the gym, but now I can't.

Truth is, I'm just too lazy to go to the gym. And you play it safe and you don't introduce new risks into your life. And so the people right now who are sitting at home who are struggling financially or worried about money or unhappy, they may be making a lot of money, but unhappy with what they're doing, it was probably taught to you. Your super ego was taught,

Get a job, work hard, or you'll never be rich, or the rich are evil, or whatever. And until you change your mindset, money won't help you, right? Correct. And we see that with people that win the lottery, people that make more money, they still have the same problem. Right. Because they have that poor man's soul. Correct. If you're poor, you'll always be poor. That's really hard for people to understand. Yeah, the money will disappear that fast. And every one of us is a poor person. There's still a poor person inside me.

So the real entrepreneur has an internal focus. But if they fall down, they say, "Oh, this is good because I'm going to go up higher."

You know, the average person will fall down and say, "Oh, I'm going to take some Prozac." Or if somebody has a mistake, "Oh, the mistakes don't matter." Well, mistakes matter. It means you didn't know something. But a real entrepreneur, whether they fall down or not, they go, they always can go up. They can stand back up and go higher. No matter what happens to them, they get stronger and better and smarter and happier. But a person with a weak internal mindset is that they're so afraid of what happens, it generally happens.

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