Robert Kiyosaki Wants You To Be Prepared

There's a lot of people who may or may  not know they're in big financial trouble and my concern is today is a lot  of people maybe they're not rich but  they're going to go broke but let me  give you my background on this whole  thing about why we're in this crisis  1974 I was just getting out of the  Marine Corps station in Hawaii Kaneohe  Bay Marine career station and I was  looking for a job so I went and I got a  job with the Xerox Corporation not  because I love Xerox machines but I had  to learn how to sell and that was the  main reason so I interviewed two  companies IBM and Xerox I took Xerox at  the same time there was this new thing  called erisa which I really wasn't  paying much attention to but because I  was interviewing with people I keep  hearing things called erisa and the  Orissa stands for employee retirement  income Security Act and every time they  say that governments tell you they're  going to secure your retirement you know  it's toast I don't trust my government  as far as I can throw and you can't  throw it anywhere so erisa then let to  this thing called the 401K 

so over the  next couple of years like say 784 to  like 78 I saw this Exodus of school  teachers leaving the profession and it  goes my whole family of school teachers  and they were becoming financial  planners it was it sounded good like  they were experts in all this and all I  was saying to my sick and not so  politically correct Dark Side this is  the poor leading the foolish and I said  we're going to have a disaster coming so  you have these guys know nothing about  money School teachers or all these other  people who are just quitting their jobs  to have a profession called a financial  planner and then they were advising  people who knew nothing about money  about their financial future I said man  there's going to be a train wreck in the  future well this is the show the SOS is  here so if you are an old guy like me a  baby boomer who's had a 401k or an IRA  what I call defined contribution DC  pension plans this is your show and if  you're a young person with a 401k you  know I'll take laps around the rosary  beads for you tonight because you're an  idiot so this is what this show is about  because you might be in financial trouble your parents or your  grandparents might be in severe  financial trouble today because that  1974 act the arrest act which led to a  401k in these IRAs and Roth IRAs were  specifically designed for people who  want to be told what to do go to school  get a job you know Dave Rams is a friend  of mine he says live debt free and  truthfully most people should do that  but I would never do that debt is money  so I come from the other side of the  coin it's all coins of three sides heads  tails and the edge so on the other side  of the coin is Dave Ramsey saying live  debt free and most people should because  they don't know how to handle debt on  the other side of the coin is I went to  school to learn how to handle debt how  to raise Capital using other people's  money and when you've lost somebody's  money it's pretty frightening and so  that's why I don't do this stuff because  that's the problem you got conditioned  to be led by foolish people who tell you  what to do with your money and I meet  some of the young people oh I got a  great job it's got a 401k you know I  dropped to my knees take laps around the  rosary pieces so this person's in severe  trouble down the road so with that as  you know the markets are crashing our  debt to GDP ratios are now like 125  percent it's never been this High we're  the biggest debtor nation in the world  and um people are in trouble I don't  really know what's going to happen but  something has to give we users cannot  keep printing money to solve financial  problems but if you awaken your  financial genius you know greed is good  I mean getting rich is fun it's the most  fun game I play and the reason I like it  is because markets go up and markets go  down you know it's like life and it's  just real life but most people so awaken  your financial genius and take control  of your actual future so that's what  happened for me was that when having a  rich dad and a Poor Dad I saw my poor  dad a PhD from Stanford in Chicago and  University of the Northwest and he was  just so content to have a PhD and a job  in a government pension government  pension is kind of a defined benefit  plan where you guaranteed a paycheck for  life that's defined benefit and that's  why so many people are government  employees which is why our government is  going broke and all these people who get  a government job for the defined benefit  management plan we all know that we know  all your cowards and you know you just  want to be told what to do and have  somebody take care of you give you a  bottle of milk which is no baby formula  in it unfortunately but you're sucking  on the nipple of the government and the  government's broke that's a defined  benefit pension plan and then in 1974  they shuffled off to Buffalo all the  Baby Boomers into defined contribution  which meant you had to contribute to it  and if it was there when you retired  good luck you know I mean you're lucky  but if it's not there and that's what  we're saying with this SOS show it might  not be there our education system is so  corrupt broken and woke right now but  most academics have this point of view  I'm not interested in money you know  there's a self-righteous stupid  underlying attitude because I grew up  with them I'm not interested in money  I'm just impo I'm just going to do a  good job for the kids because my whole  life is dedicated to the kids well why  don't you educate them about money well  because I'm not interested in money and  there's this underlying Mantra I've seen  I heard and so many people who are  government employees I'm just not  interested in money it's the biggest  bunch of crap I've ever heard because  they're the first guys that fight when  you take their paycheck away and they'll  sell their soul for their paycheck but  given the state of the economy the stock  market or brilliant leadership under  Biden and Kamala the Border Harris  um Czar oh jeez I war in Ukraine and  inflation going through the roof and  Elon Musk laying off 10 of his Workforce  we're talking about what you can do now  given the state of the economy and if  you're by holding praying for your  retirement they'll say you're 65 you  might be in serious trouble I think in a  baby boom generation they're out of time  there's a very big difference with time  is a big factor in this whole thing so  it's good the crypto guys are learning  it early but the problem with our  generation my generation was We Came of  age around let's say 1970. Nixon took  the dollar off the gold standard and all  we knew was a boom economy even right  after 2008 they just printed more money  and kept booming but that's why I said  our debt to GDP is now 125 percent it  means for every dollar we bring in we're  spending we can't cover our tax dollars  can't cover it so they keep borrowing  more money not really borrowing more  money but cannot probably in the market  up and now we're at the end of the line  but after you kind of realize what was  going on in the stock market all markets  boom and all markets bust but this could  be the biggest bust in world history  it's a global bust it might be of a  global depression again you know I grew  up in a fan family of government  employees and their whole thing is a  self-righteous attitude I'm not  interested in money 

I just want to do a  good job for the community biggest law I  ever heard you try to take their  paycheck away they fight like dogs  they'll bite you in the hand you know I  mean it's the biggest lie and so many  people sell their soul now they'll do  anything to keep that job but they're  not interested in money because money is  the root of all evil you know and that's  what I hear going on all the time so  anyway let's try this whole thing off is  when financial planners became to fad a  new profession you know every school  teacher not every but you know they were  just leaving in droves poor leading the  blind it's just shocking what's happened  our problem is education I mean so  hardcore Marxist right now that is the  Communist game plan it has always been  to invade higher education so in 1930  the Frankfurt School sent teachers to  Columbia University in New York and  that's when the student protests began  and they began America became communist  through our education system I mean  making more money than ever before today  but because I am a proactive investor I  was just saying to John I just sold two  properties that we made quite a bit of  money on and so where do you put your  money well you put it in cash I bought  wagyu Bulls you know breeding Bulls this  is a Japanese breeding Bowl which I  always wanted to be but never got there  but I'm in the food business now and I'm  into Oil Business I'm not stock business  I don't trust stocks or bonds I never  have I don't have any well I do have  some but they're companies I took public  but I am proactive and most people like  you say want to be told what to do so I  write about what I do in all my books  there's a difference there so I just  said just recently I sold two pieces of  land I made four hundred thousand  dollars and I'm putting it into wagyu  cattle and cows and next may they drop  more cattle so it's called Cash Flow you  know  it's not that hard to do but you have to  kind of know what you're doing so my  whole strategy being a marine and a c  student and never been bright in school  I always ask people who are doing what I  wanted to do so my friend who is  investing in the Bulls that's what he  does he invests in Bulls and this bowl  is a half million bucks and he braids  you know probably several hundred cows a  year and think of all the calves that  dropped from that that's leverage you  know I just kind of like the whole  formula and I like to eat now if you  don't like to eat beef chew on some  celery you know I don't really care but  you get your little personal dignity up  there and you miss the whole point here  invest in what people need people need  oil I invest in it people need housing I  invest in it people need food I invest  in it there's a very big difference but  I invest with people who are doing what  we invest in there's a certain female  that's famous on television especially  PBS she uses cut up your credit cards  and live below your means and diversify  diversify 

I called  diversify you know just diversify your  account so this person was charged or  something right now we won't mention her  name  I think it was a debit card fraud  amongst other things I sit there and  watch all this Horror Show going in  front of us and then so many people have  been trained because I go to school tell  me what to do it's why 78 of people  working adults these aren't homeless  people are living paycheck to paycheck  that's why tell me what to do so let me  give you an example you know Dave Ramsey  is a friend of mine his advice is solid  it'll live debt free but the other side  of the coin is somebody like me and what  I studied was how do I use debt as  Monica's death became money in 1971. you  know so I learned how to borrow money  because debt is tax-free then I invest  in property and then I get my income tax  free because of appreciation depreciated  amortization he's a tax loss but they  take study you don't just do it  overnight but you gotta study if you  want to be told what to do just listen  to the TVs and pray I mean that buy hold  and pray I call it during a crash is  when you make most of your money when  Kim and I started off on how many years  ago now it was miserable  problems break down this that painting  costs go above your rents and you learn  management so quickly