Robert Kiyosaki 2019 - The Speech That Broke The Internet!!! KEEP THEM POOR!

Summary

The video script narrates the author's journey of financial education, contrasting the traditional employment mindset with entrepreneurial thinking. The author, influenced by his 'rich dad,' learns that schools often fail to teach money management, focusing instead on preparing students for jobs. Through hands-on experiences and mentorship, the author discovers the importance of understanding business fundamentals like accounting and taxes, which are essential for financial success. The script emphasizes the power of having a positive, solution-oriented attitude towards wealth creation.

Takeaways

• 😯 The speaker's father, a head of education with a PhD, revealed that the government dictates the curriculum, including what subjects can and cannot be taught, such as personal finance.
• 🤔 The speaker questioned the purpose of education, particularly why it doesn't focus on teaching about money if the goal of getting a job is to earn money.
• 🧐 The difference between an entrepreneur and an employee is highlighted: entrepreneurs must understand money to succeed, while employees rely on the government or company for financial security.
• 👶 The speaker's journey to learn about money began at a young age, with his 'rich dad' teaching him through practical experiences and the game of Monopoly.
• 🏨 The concept of acquiring wealth through real estate investment is illustrated through the story of the Hyatt Regency hotel in Waikiki, which was built on land assembled by the speaker's 'rich dad'.
• 💡 Personal finance and business knowledge, such as accounting, debt, and taxes, are crucial for success but are often not taught in schools.
• 🔄 The speaker emphasizes the importance of learning from real-life experiences and mentors, rather than just theoretical knowledge from textbooks.
• 📈 The idea that success in business and finance is not just about avoiding mistakes but growing from them, embracing the ups and downs as part of the learning process.
• 💰 The speaker suggests that a poor attitude towards money is often passed down through families and can limit financial success.
• 🏫 The education system is criticized for preparing students to be employees rather than entrepreneurs, focusing on academic subjects over practical financial literacy.
• 🤝 The importance of finding real teachers who practice what they teach is stressed, as opposed to theoretical educators who may not apply their knowledge in the real world.

Q & A

Why doesn't the speaker believe that learning about money should be a part of school education?

The speaker's father, a head of education, explained that the government dictates the curriculum and does not include money education, focusing instead on preparing students for employment.

What was the turning point for the speaker to start learning about money?

The turning point was when the speaker's father suggested asking his best friend's father, who was an entrepreneur, about money, which led to the 'rich dad' teaching him financial lessons.

What condition did the 'rich dad' set for teaching the speaker about money?

The 'rich dad' set the condition that he would never pay the speaker, as he wanted to teach him to think like an entrepreneur rather than an employee.

How did the 'rich dad' initially teach the speaker about money?

The 'rich dad' used the game of Monopoly as a tool to teach the speaker about money, having him work for free and learn through the game's mechanics.

What is the significance of 'four green houses and one red hotel' in the context of the script?

It represents a strategy for acquiring wealth, as explained by the 'rich dad', which is based on the game of Monopoly and later applied in real life with the acquisition of a large property in Waikiki Beach that became the Hyatt Regency Hotel.

How did the speaker's 'rich dad' learn about business and money management?

The 'rich dad' learned through practical experience, having to run a family business from the age of 13, and his teachers were professionals like bookkeepers, accountants, attorneys, bankers, and real estate agents.

What is the difference between an entrepreneur and an employee according to the 'rich dad'?

An entrepreneur must know about money to survive, while an employee doesn't need to know about money because they rely on the government or company for their income.

What is the speaker's view on the importance of having real-world teachers?

The speaker believes that real teachers are those who practice what they teach, unlike school teachers who may not apply the subjects they teach in real life.

How does the speaker describe the attitude towards money in his family?

The speaker describes it as having a poor attitude towards money, which is something that is taught in families and contributes to a cycle of poverty.

What advice does the speaker give to young people regarding their financial education?

The speaker advises young people to find their own 'game', implying that they should identify their areas of interest and strength, such as business or real estate, and pursue financial education in those areas.

What is the speaker's perspective on the role of mistakes in personal growth?

The speaker views mistakes as opportunities for growth, stating that those who fear making mistakes and avoid them will not grow, as growth comes from experiencing both positive and negative outcomes.