Robert Kiyosaki - The Speech That Broke The Internet!!! KEEP THEM POOR! PART 2

Summary

The speaker shares insights from his 'rich dad' on financial education, emphasizing the importance of entrepreneurship and asset acquisition over traditional employment. He discusses the impact of mindset and habits on wealth, using the game of Monopoly as a metaphor for real-life wealth-building strategies. The narrative also touches on the challenges of self-publishing and the role of media in shaping public perception of financial success.

Takeaways

• 💼 The speaker emphasizes the importance of not thinking like an employee and avoiding the 'employee mindset' trap, which can limit financial growth.
• 🧠 The idea that fear is universal but how one deals with it is crucial; it's not the absence of fear but the management of it that matters.
• 🌟 Einstein's quote is highlighted, suggesting that while knowledge is important, imagination is more so, but knowledge also empowers imagination.
• 📚 There's a need for basic financial literacy, including understanding taxes, debt, and financial statements, which are often not taught in schools.
• 🏫 The school system is criticized for preparing individuals for employment or specialization but not for financial independence or business acumen.
• 💸 The speaker's 'rich dad' taught him that the mindset of 'I can't afford it' is a self-fulfilling prophecy that keeps people poor.
• 🏘️ The concept of acquiring wealth through real estate, likened to the game Monopoly, is presented as a strategy for building assets.
• 🎲 The game of Monopoly is used as a metaphor for real-life wealth-building, with the progression from green houses to red hotels representing scaling up in real estate.
• 📈 The speaker's rich dad's success story with real estate development, including the assemblage of properties and the creation of a hotel, illustrates the power of asset accumulation.
• 🚫 The initial rejection of the speaker's book by publishers and its subsequent success through self-publishing and network marketing reflects the resistance to new ideas in traditional systems.
• 🤝 The importance of having a team, including accountants, attorneys, and bankers, is stressed for success in business, as opposed to trying to do everything alone.
• 💡 A shift in mindset is necessary for financial success; simply acquiring money without changing one's perspective will not lead to long-term wealth or happiness.

Q & A

What condition did the speaker's rich dad set before teaching him about money?

The condition was that he would never pay the speaker; he believed that the moment he paid, the speaker would start thinking like an employee.

What did the speaker's rich dad believe about the school system's role in teaching about money?

He believed that the school system was not designed to teach about money or business; it was designed to teach students to be employees, doctors, lawyers, or other specialists.

What is the significance of the phrase 'the moment you accept the paycheck, your brain goes' according to the speaker?

It signifies that once you become dependent on a paycheck, you start thinking and behaving like an employee, which can limit your entrepreneurial mindset and financial growth.

What did the speaker's rich dad emphasize about the importance of imagination and knowledge?

He emphasized that while imagination is more important than knowledge, having basic knowledge empowers imagination, especially in areas like taxes, debt, and financial statements.

Why did the speaker's poor dad not want to learn what the rich dad was teaching?

The speaker's poor dad did not want to learn because he lacked the real business knowledge that the rich dad was teaching, and he was content with the status quo.

What role did the game of Monopoly play in the speaker's financial education?

Monopoly was used as a teaching tool to illustrate the concept of acquiring wealth through real estate, such as upgrading from green houses to a red hotel, which the speaker's rich dad later applied in real life.

What was the speaker's reaction when he was told that his book 'Rich Dad Poor Dad' was initially rejected by publishers?

The speaker self-published the book, which eventually gained popularity through network marketing companies and was later endorsed by Oprah, leading to its success.

How did the speaker's rich dad amass wealth through real estate, similar to the game of Monopoly?

He bought small properties, gradually assembling a large piece of land, and then partnered with Hyatt to build a hotel, which later sold for $800 million.

What is the speaker's view on the importance of having a team in business?

The speaker believes that having a team of professionals like accountants, attorneys, and bankers is crucial for success in business, as opposed to trying to do everything alone.

Why does the speaker believe that many people remain poor despite making money or winning the lottery?

The speaker believes it's because they have a 'poor man's soul' or mindset, which means they haven't learned or changed their habits and beliefs about money, leading to financial instability regardless of their income.

What advice does the speaker give to young people regarding finding their 'game' in life?

The speaker advises young people to find their passion or area of expertise, whether it's business or real estate, and to learn and apply the necessary knowledge and strategies to succeed in that field.