Rich Dad Poor Dad Author Robert Kiyosaki on Attaining and Keeping Wealth

Last updated: Jun 2, 2023

The video is an interview with Robert Kiyosaki, the author of "Rich Dad Poor Dad," discussing his views on attaining and keeping wealth, and the importance of being the best you can be in investing and finance.

The video features an interview with Robert Kiyosaki, the author of the best-selling personal finance book of all time, Rich Dad Poor Dad. Kiyosaki shares his insights on attaining and keeping wealth, and emphasizes the importance of being the best that one can be in investing and finance. He also challenges the traditional advice of financial planners and advocates for a personalized approach to finance that suits one's unique skills and traits. The interview touches on Kiyosaki's background as a gunship pilot during the Vietnam War and how his experiences have shaped his approach to finance.

  • Robert Kiyosaki is a successful entrepreneur and author of "Rich Dad Poor Dad".
  • He believes in being the best you can be in investing and finance.
  • Financial planners often give one-size-fits-all advice, which is not suitable for everyone.
  • Robert Kiyosaki compares investing to flying gunships in Vietnam.
  • Robert Kiyosaki believes in being the best in everything you do.
  • Kiyosaki believes that spirit and guts are essential in life.
  • Kiyosaki advises people to surround themselves with people who strive to be the best.
  • People who don't have wealth lack a certain soul and spirit.
  • Entrepreneurs have a different set of skills than employees.

Rich Dad Poor Dad Author Robert Kiyosaki on Attaining and Keeping Wealth - YouTube

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Introduction

  • Robert Kiyosaki is a successful entrepreneur and author of "Rich Dad Poor Dad".
  • He has written many books on finance and is a sought-after public speaker.
  • He believes in being the best you can be in investing and finance.
  • He was a gunship pilot during the Vietnam War and was awarded the Air Medal in 1969.
  • He continues to help the world become more financially literate.
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Fundamentals of Finance

  • Financial planners often give one-size-fits-all advice, which is not suitable for everyone.
  • Investing in a well-diversified portfolio of stocks, bonds, mutual funds, and ETFs is not bad advice for the average person.
  • Robert Kiyosaki does not invest in stocks, mutual funds, or ETFs.
  • He believes that everyone has unique skills and traits that should be considered when investing.
  • He believes in being the best you can be in investing and finance.
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Investing and Flying Gunships

  • Robert Kiyosaki compares investing to flying gunships in Vietnam.
  • He believes that to be successful in both, you need dedication and the desire to be the best you can be.
  • He believes that being average is okay for some people, but not when you are going in and out of combat zones.
  • He believes that there is something inside each of us that wants to be the best at something.
  • He believes that if you are not willing to be the best you can be in investing, then investing in a diversified portfolio is the best option for you.
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Rich Dad Poor Dad Author Robert Kiyosaki on Attaining and Keeping Wealth - YouTube

Conclusion

  • Robert Kiyosaki believes in being the best you can be in investing and finance.
  • He believes that everyone has unique skills and traits that should be considered when investing.
  • He believes that being average is okay for some people, but not when you are going in and out of combat zones.
  • He believes that there is something inside each of us that wants to be the best at something.
  • He continues to help the world become more financially literate.
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Importance of Being the Best

  • Robert Kiyosaki believes in being the best in everything you do.
  • He learned this trait from his time in the Marine Corps and military school.
  • Kiyosaki advises people to surround themselves with people who also strive to be the best.
  • He believes that being the best is essential in investing and finance.
  • Kiyosaki thinks that being the best requires preparation and skill acquisition.
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Importance of Spirit and Guts

  • Kiyosaki believes that spirit and guts are essential in life.
  • He thinks that people should not avoid the terror of life and should step out of their comfort zone.
  • Kiyosaki believes that spirit and guts are what carry people through tough times.
  • He shares his experience of practicing crashing every day in flight school to prepare for engine failure.
  • Kiyosaki thinks that people should practice what they are terrified of.
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Why Kiyosaki Joined the Military

  • Kiyosaki joined the military because he wanted the next adventure.
  • He was making good money but wanted a challenge.
  • Kiyosaki believes in practicing what you are terrified of.
  • He thinks that being in the military helped him become the best version of himself.
  • Kiyosaki believes that being in the military helped him find his soul and spirit.
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Selecting Friends and Associates

  • Kiyosaki advises people to surround themselves with people who strive to be the best.
  • He believes that the five people you spend the most time with determine who you are.
  • Kiyosaki thinks that people should not hang out with wimps.
  • He believes that women are tougher than men in today's world.
  • Kiyosaki thinks that people should select their friends and associates carefully.
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Attaining and Keeping Wealth

  • People who don't have wealth lack a certain soul and spirit.
  • Being prepared for a major depression is important.
  • 60% chance of a depression happening.
  • For those with a soul and spirit, it's the greatest opportunity in history.
  • Entrepreneurs have a different set of skills than employees.
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Building Resilience

  • Practicing what terrifies you is incredibly powerful.
  • Entrepreneurs have a different set of skills than employees.
  • You can change your spirit.
  • Choosing your friends is important.
  • Expectations of self are important.
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Being an Entrepreneur

  • Entrepreneurs have a different set of skills than employees.
  • Security is the worst word for an entrepreneur.
  • Choosing security can lead to negative consequences.
  • Entrepreneurs face a lot of rejection.
  • Failing more is important for success.
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Personal Growth

  • Having a soul and spirit is important.
  • Being prepared for a major depression is important.
  • Choosing your friends is important.
  • Expectations of self are important.
  • Changing your spirit is possible.
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Overcoming Fear and Failure

  • Robert Kiyosaki failed 35 times before succeeding in a phone bank job in Honolulu.
  • Handling fear and failure is important in achieving success.
  • Most people don't want to go through the wimp and that's why they don't succeed.
  • Being able to fail more and faster makes a lot of sense.
  • Assessing what's going wrong is important in the process of achieving success.
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The Importance of Studying and Learning

  • Robert Kiyosaki and his team constantly study and read books together.
  • They have coaches, mentors, and teachers to help them clear their blind spots.
  • They only want to be friends with people who are interested in studying.
  • Leadership is about bringing people together and moving them forward.
  • Testing your soul and being resilient is important in achieving success.
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Preparing for Success

  • Being prepared for success is important in achieving it.
  • Robert Kiyosaki made money hand over fist during the pandemic because he was prepared for it.
  • Having a process for assessing what's going wrong is important in achieving success.
  • It's important to have a team to help you achieve success.
  • Being anti-fragile is important in achieving success.
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Learning from Sales and Inspirational Figures

  • Sales is super critical in achieving success.
  • It's important to have friends who are not just all talk and no action.
  • Robert Kiyosaki was inspired by JFK's book Profiles in Courage.
  • There are great teachers on YouTube who can help you achieve success.
  • George Gammon, Patrick Bet David, and London Real's Brian Rose are some of the best teachers on YouTube.
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Learning Finance

  • There are many great teachers in the world today, and it's up to individuals to choose what they want to learn.
  • Robert Kiyosaki created the Cash Flow board game in 1997 to teach accounting through fun.
  • The game helps to change neural pathways in the brain and train individuals to think like investors.
  • Learning to be rich involves knowing how to sell, use debt, and avoid paying taxes.
  • Robert Kiyosaki operates as a team with bookkeepers, accountants, attorneys, and bankers.
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Types of Income

  • There are three types of income: ordinary, portfolio, and passive.
  • Ordinary income is the highest taxed income in the world and is earned through a job.
  • Portfolio income is earned through investing in the stock market and is taxed at a higher level than passive income.
  • Passive income is tax-free and earned through investments that individuals know how to manage.
  • Working as a team with professionals can help individuals earn more passive income.
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Tax Laws and Incentives

  • Tax laws are incentives, not punishments.
  • Donating money to charity or providing housing can result in tax breaks.
  • Having thousands of employees can also result in tax breaks.
  • Working for a blended income as a self-employed person can result in higher taxes.
  • Individuals need to understand tax laws and incentives to maximize their wealth.
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Changing Your Mindset

  • Changing your neural pathways and mindset is crucial to becoming wealthy.
  • Individuals need to rewire their brains to think like investors and not employees.
  • Playing games like Cash Flow and Monopoly can help individuals learn how to think like investors.
  • Working as a team with professionals can also help individuals change their mindset and become more successful.
  • Individuals need to focus on creating passive income and not just working for a paycheck.
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Robert Kiyosaki's Advice on Attaining and Keeping Wealth

  • There are different games and different types of players in the world of finance and investing.
  • It's important to choose your teachers wisely and surround yourself with a team of professionals, such as bookkeepers, accountants, attorneys, and bankers.
  • For those struggling to make ends meet, the most important thing is to focus on basic needs like putting a roof over their head and having enough to eat.
  • Robert Kiyosaki's goal is to help people achieve financial success and security.
  • He emphasizes the importance of being the best you can be in investing and finance, and of constantly learning and growing.
  • One common mistake people make is trying to cut a little bit of everything, rather than focusing on what really matters and making significant changes.

Watch the video on YouTube:
Rich Dad Poor Dad Author Robert Kiyosaki on Attaining and Keeping Wealth - YouTube

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