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Robert Kiyosaki is back with us he is
the author of why the rich are getting
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richer Robert this is a question that
has rocked political campaigns for
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decades what is the answer
well debt in taxes for a young man like
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you will be a largest single expense you
say but for a rich person with financial
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education Denton taxes will be something
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richer it's it's really not fair you'll
work very very hard and debt and taxes
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will eat you alive for a guy like me
because that are rich dad and like
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president Trump
taxes make us richer so how do I get to
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your end of the spectrum is it largely
through investing in real estate well
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first of all it's an education there's
many ways you can do it I primarily do
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it feel what I call the McDonald's
formula if you know there's a movie
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founder with was Michael Keaton he said
McDonald's business is real estate it's
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not hamburgers it's realistic and so my
business the Rich Dad company is real
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estate and that's why I use debt and I
use taxes to acquire a large stuff large
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tracks are real estate that pay no taxes
legally legally it's a very interesting
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discussion as the government looks to
put forth tax reform I mean what are
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people getting wrong when it comes to
taxes just not knowing the loopholes out
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there correct if you're a hard-working
employee or a doctor or an attorney you
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will pay the highest taxes but for the
professional investor like I'm an
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entrepreneur and I create investments
I pay no taxes so as long as that's why
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I'm Rich Dad Poor Dad lesson number one
was the rich don't work for money
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because the moment you work for money
you're taxed and so there's this tax
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reform it's a good idea but for a young
guy like you it's best to learn early
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why guys like me used in taxes to get
rich whereas death taxes will eat you
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alive now you know many people think oh
I'll just start my own business and
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that's how I'll move up the economic
scale but in the book you say that may
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not be the best idea explain well again
it goes back to what is your a level of
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financial education we're taught to be
employees not entrepreneurs go to school
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get a job not go to school and create
jobs and the mindset between a person
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who creates jobs and a person who looks
for a job our opposite it's like you
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know two sides of a coin so that's why I
you know both the president I know it's
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not the most popular guy have a lot of
younger guys but he's a good man you
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wrote a book with him yeah two books now
he's a good man but we're concerned
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about financial education so he and I
are entrepreneurs we thousands of
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employees lots of real estate and
because we do that the IRS gives us tax
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breaks because we use debt because the
government wants us to borrow money
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which is why interest rates are so low
and because we borrow create jobs and
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buy real estate with pay no taxes
legally literally what you mentioned low
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interest rates and with that you also
say saving is for losers explain that
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tagline because I think it runs contrary
to what a lot of people have been taught
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thank you for saying that
for years I've caught hell as you know
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because I kept saying savers or losers
and you saw interest rates when I was
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your age interest rates for 15% now in
Japan and Switzerland there's sub-zero
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why would you save money it makes no
sense if you some people's all save
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money but the people but the whole
economic system which we're part of
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right now wants debtors they don't want
savers so we have too much money in the
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system so because they have too much
cash in the system they punish the saver
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and reward the debtor with low interest
rates and no taxes so what's the the
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other solution then to that I mean
should I put the money into the stock
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market should I take on debt and invest
that money in the stock market well as
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you know I you guys are so lucky being
your age so we're in the information age
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the problem is our school system still
in the Stone Age and they don't provide
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you the knowledge to process information
so like when you say go to school to get
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a job it doesn't make sense to me
because I'll be taxed and so really were
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the knowledge age and information so the
most important investment is your
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financial education which is not taught
in school and so that's why some bright
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young people like you come out the
student loan debt up to
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they're looking for this mystical
high-paying job and they live it with
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mom and dad so your number one tip for
young people would be well I would seek
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financial education for like all real
teachers because when I was in school
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most of them were fake
you know I mean they really didn't know
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what they were talking about like my
accounting teacher I'm a man be a
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program I knew more about accounting
that he did because the poor guy never
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left school he was like my poor dad
people teach real world experience
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yes surprising I went to flight school I
flew for the Marine Corps I had to have
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real teachers you know you know once son
guy who's never flown before our two or
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just flew a little Piper Cub to teach me
to fly in combat I needed real teachers
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so as young people I always say to them
choose your teachers why's that
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make sure they're real make sure they
know what they're talking about they're
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not people is working for that paycheck
you know like like most financial
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planners are good guys but they're not
rich people why would you take advice
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I'm Robert before we let you go what is
your advice for women and investing what
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what kind of mistakes to women make when
it comes to investing but because you
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should talk to my wife Kim she's
beautiful on the outside view up on the
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inside when she says this to all women
women you and I know that when it comes
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to money women are smarter than men
that's from my wife all right Robert
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Kiyosaki thank you so much for joining
us
8378
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