All language subtitles for [English (auto-generated)] DONALD TRUMP AND ROBERT KIYOSAKI_ FINANCIAL EDUCATION- FUNDAMENTALS RULES FOR INVESTORS [DownSub.com]
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you
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well in Rich Dad Poor Dad I came out in
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1997 I said your house is not an asset
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and it drove people nuts is this one
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crazy on me because that's a common
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belief but when when you can't make your
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house payments you find out is the
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biggest liability you've got and what
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may that's - you have to be very much
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more correct than you even thought right
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when you look at what's happened to home
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prices and Donald and I love real estate
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I love with us I think it's the best
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thing going better than sliced bread but
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if you're not smart with it it's like a
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loaded gun you know you can protect
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yourself we can kill yourself with it so
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real estate is to me the best vehicle
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but you've got to be smart with it
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because we're using debt and debt is a
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two-edged sword out there so you use
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debt I used it but the more debt you use
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actually you have to be smarter so you
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can use debt to get richer it can also
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use debt to wipe you out so that's why
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you know I continue on saying we need
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financial education to just say to
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somebody get out of debt well that's not
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accurate
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you use debt don't you that is a great
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thing and to be big and to be very
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successful debt is a very useful weapon
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way but you have to be very careful is
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correct so the other thing when people
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say live below your means you don't like
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to live below your means do you know and
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I think when you say to somebody live
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below your means you wipe the spirit out
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it's like saying somebody if you want to
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lose weight go on a starvation diet it
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doesn't make you healthier to starve
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yourself so I would rather get
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financially educated that's why I read
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read your books because I want to this
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is my greatest asset I want to feed my
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brain so that I can expand my means
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without getting into excessive debt or
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where I start to lose because debt this
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a is a to a sort but telling somebody to
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live below your means is almost inhumane
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I never felt good doing it I wanted to
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strive to
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you better every day I want to do better
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everyday I liked a good life like I tell
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the story of taxiing underneath your jet
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and I thought I was in my jet but it was
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a little Learjet I look up and there's a
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727 a night taxi under it as a holy man
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you know it's it's big boys and their
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toys but nonetheless it inspired me I
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said okay I'm in a Learjet now it's time
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to step up and it doesn't mean the jet
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will make me happier what makes me
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happier is the wanting to get better to
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get smarter to do better well I have a
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friend who was not successful at all but
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was really up-and-coming and he had a
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thing he would only fly first class I'm
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not saying do this because for somebody
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who won't work but he needed that
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mentally right he wanted to fly first
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class because mentally he wanted to
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think he was the best and that's it and
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even though he didn't have much money at
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the time this is years ago he would
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always fly used to criticize him but it
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put him in a good state of mind and he
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became a very very successful guy very
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very successful and I oh I've always
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remembered that he would never fly coach
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he would always like first last even
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though I didn't have the means to fly so
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look it's complicated but whatever it
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takes to train that whatever it makes
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you feel better about yourself stronger
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more confident to want to do better and
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I think really that's the issue and then
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we're at the stage of our lives right
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now we you know to ask for more is not
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really it but to do better to feel
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better about ourselves is still
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important it is very important so that's
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why I don't like saying live below your
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means and scrimp and all that because
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you know shopping is fun
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nice nice houses are fun at the same
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time you have to be very careful yes but
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ethically responsible correct like you
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know when when you invited us up to your
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your little con your little duplex up
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whatever he call it we walked up there
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I've never seen a two-story two entire
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floor home in New York City and my wife
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Kim's as you know this I never thought I
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never really not live in a condo but
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just as mr. Trump's house will do and it
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is spectacular you don't I mean it's and
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I don't need that right yes I don't I
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don't need that if I had one nice
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bedroom with a good television set in a
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nice bed and you don't really need that
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but it was in a building I built right
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and it was there for the taking so I
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figured I might as well do it and what
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have I done instead of selling the
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equivalent of 12 or 13 units I kept them
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and by keeping them I have them I didn't
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sell them and that's okay and it's
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become you know a very valuable place so
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I didn't need that I don't need it now
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but there's something nice about it
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right and that's my message is achieve
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it and then you can take it or leave it
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but if you don't achieve it then it's
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always something away from you so again
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that's why be redundant about this
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living below your means I don't think
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that makes your spirit happy it kills
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your spirit also if you don't have the
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financial education when somebody says
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your house is an asset or these mutual
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funds are good or the stock will go up
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and you don't know the dirty and good
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investment and a bad investment because
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real estate can be a bad investment
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stocks can be a bad investment if you
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don't know a good investment advice from
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bad investment advice then you're going
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to take it this world is not kind should
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we say the hardest thing that I've
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witnessed over the last year is seeing
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people that were very hardworking and
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very conservative that invested in the
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stocks and I'm not talking about
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high-flying stocks I'm talking about
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very solid companies and their net worth
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is 50% of what it was a year ago and I
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haven't done anything wrong
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right now they put their money in stock
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so I guess you could say that's wrong
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but it's really not wrong though because
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historically that's been okay so they
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went into conservative stocks
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and a year later they're worth 50% and
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all they've done is worked and that's
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the hardest thing I've seen as tragedy
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the thing that I want to say is this you
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can invest in gold and lose money you
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can invest in real estate and lose money
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you can lose the stocks and lose money
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you can invest in oil and lose money you
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can also make a lot of money all those
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things so really the reason we get
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together is because your financial
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intelligence your financial IQ makes
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something valuable or not value like I
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said you have to know a good investment
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from a bad investment
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good advice from bad advice
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