what you will find out there are many people in the financial services
people in the financial services
people in the financial services industry that do not want me to tell you
industry that do not want me to tell you
industry that do not want me to tell you what I’m about to tell you tonight so
what I’m about to tell you tonight so
what I’m about to tell you tonight so but you know please be aware of that
but you know please be aware of that
but you know please be aware of that also want to caution you this if some of
also want to caution you this if some of
also want to caution you this if some of you what I may say tonight may threaten
you what I may say tonight may threaten
you what I may say tonight may threaten or challenge some of your flat your
or challenge some of your flat your
or challenge some of your flat your beliefs about money I mean how many we
beliefs about money I mean how many we
beliefs about money I mean how many we were taught you know to save money for
were taught you know to save money for
were taught you know to save money for example good tonight you’re going to
example good tonight you’re going to
example good tonight you’re going to find out why that’s a bad idea so that’s
find out why that’s a bad idea so that’s
find out why that’s a bad idea so that’s what I think this program is going to
what I think this program is going to
what I think this program is going to shake some of you in all this for the so
shake some of you in all this for the so
shake some of you in all this for the so stay tuned I promise
stay tuned I promise
stay tuned I promise if you stay tuned you’re at minimum your
if you stay tuned you’re at minimum your
if you stay tuned you’re at minimum your financial IQ will go up may learn to
financial IQ will go up may learn to
financial IQ will go up may learn to take more control of your money and
take more control of your money and
take more control of your money and possibly survive the financial hurricane
possibly survive the financial hurricane
possibly survive the financial hurricane that’s going to start brewing in the
that’s going to start brewing in the
that’s going to start brewing in the year 2008 the first year the first of 75
year 2008 the first year the first of 75
year 2008 the first year the first of 75 approximately 75 million baby boomers
approximately 75 million baby boomers
approximately 75 million baby boomers begin to retire and how many people
begin to retire and how many people
begin to retire and how many people realize those baby boomers may not have
realize those baby boomers may not have
realize those baby boomers may not have enough money to retire on good and good
enough money to retire on good and good
enough money to retire on good and good that’s why I thank you young people
that’s why I thank you young people
that’s why I thank you young people because it’ll be up to you to take care
because it’ll be up to you to take care
because it’ll be up to you to take care of us so so before we could get us a
of us so so before we could get us a
of us so so before we could get us a question how many of you have probably
question how many of you have probably
question how many of you have probably read Rich Dad Poor Dad thank you who has
read Rich Dad Poor Dad thank you who has
read Rich Dad Poor Dad thank you who has not yet read the book good to some of
not yet read the book good to some of
not yet read the book good to some of you for those who haven’t read the book
you for those who haven’t read the book
you for those who haven’t read the book it’s good to see some customers still
it’s good to see some customers still
it’s good to see some customers still out there and I bought my book but
out there and I bought my book but
out there and I bought my book but anyway flow they’re having Rich Dad Poor
anyway flow they’re having Rich Dad Poor
anyway flow they’re having Rich Dad Poor Dad I’ll give you a little to my
Dad I’ll give you a little to my
Dad I’ll give you a little to my background missed airport as a true
background missed airport as a true
background missed airport as a true story about my two dads my real dad was
story about my two dads my real dad was
story about my two dads my real dad was the head of education for the state of
the head of education for the state of
the head of education for the state of Hawaii
Hawaii
Hawaii very smart hardworking great guy you
very smart hardworking great guy you
very smart hardworking great guy you know it’s a PhD and he and he offered
know it’s a PhD and he and he offered
know it’s a PhD and he and he offered ran he also ran for lieutenant governor
ran he also ran for lieutenant governor
ran he also ran for lieutenant governor of the state of why so the great man but
of the state of why so the great man but
of the state of why so the great man but I call him my poor dad very simply
I call him my poor dad very simply
I call him my poor dad very simply because even though he was a high paid
because even though he was a high paid
because even though he was a high paid government official no matter how much
government official no matter how much
government official no matter how much money he made he was broken into every
money he made he was broken into every
money he made he was broken into every month and he ultimately died broke so
month and he ultimately died broke so
month and he ultimately died broke so obviously money doesn’t make you rich or
obviously money doesn’t make you rich or
obviously money doesn’t make you rich or poor you know it’s really education that
poor you know it’s really education that
poor you know it’s really education that does and as you can tell I’m fourth
does and as you can tell I’m fourth
does and as you can tell I’m fourth generation Japanese American which means
generation Japanese American which means
generation Japanese American which means I don’t speak Japanese and I’m gonna let
I don’t speak Japanese and I’m gonna let
I don’t speak Japanese and I’m gonna let you know that now you know I barely
you know that now you know I barely
you know that now you know I barely speak English
speak English
speak English my Rich Dad on the other hand was my
my Rich Dad on the other hand was my
my Rich Dad on the other hand was my best friend’s father and although he was
best friend’s father and although he was
best friend’s father and although he was a man who started with nothing he
a man who started with nothing he
a man who started with nothing he ultimately became on the richest men in
ultimately became on the richest men in
ultimately became on the richest men in Hawaii so when you look at though you
Hawaii so when you look at though you
Hawaii so when you look at though you know the white sands and the blue waters
know the white sands and the blue waters
know the white sands and the blue waters and the tall palm trees and the hula
and the tall palm trees and the hula
and the tall palm trees and the hula girls and the tall hotels right on
girls and the tall hotels right on
girls and the tall hotels right on Waikiki Beach my rich dad’s family owns
Waikiki Beach my rich dad’s family owns
Waikiki Beach my rich dad’s family owns some of the land under those hotels so
some of the land under those hotels so
some of the land under those hotels so Rich Dad Poor Dad this book here is a
Rich Dad Poor Dad this book here is a
Rich Dad Poor Dad this book here is a very simple true story of what two
very simple true story of what two
very simple true story of what two fathers tell two sons my best friend and
fathers tell two sons my best friend and
fathers tell two sons my best friend and I about the subject of money starting
I about the subject of money starting
I about the subject of money starting the age of nine and I believe one of the
the age of nine and I believe one of the
the age of nine and I believe one of the reasons the book has been so successful
reasons the book has been so successful
reasons the book has been so successful it has written for nine year olds and
it has written for nine year olds and
it has written for nine year olds and it’s simple enough for everybody to
it’s simple enough for everybody to
it’s simple enough for everybody to understand high finance or more
understand high finance or more
understand high finance or more importantly why the rich are getting
importantly why the rich are getting
importantly why the rich are getting richer so that’s basically you know my
richer so that’s basically you know my
richer so that’s basically you know my background as I grew up in Hawaii I was
background as I grew up in Hawaii I was
background as I grew up in Hawaii I was educated in New York and spent six years
educated in New York and spent six years
educated in New York and spent six years in marine corps went to Vietnam twice
in marine corps went to Vietnam twice
in marine corps went to Vietnam twice and all that and then I came back and
and all that and then I came back and
and all that and then I came back and started my business career so next
started my business career so next
started my business career so next question is this how many people have
question is this how many people have
question is this how many people have read this book prophecy doesn’t as fewer
read this book prophecy doesn’t as fewer
read this book prophecy doesn’t as fewer of you have read this book and what Rich
of you have read this book and what Rich
of you have read this book and what Rich Dad Poor Dad is a popular book I think
Dad Poor Dad is a popular book I think
Dad Poor Dad is a popular book I think this is a more important book and the
this is a more important book and the
this is a more important book and the reason I think prophecy is more
reason I think prophecy is more
reason I think prophecy is more important it’s about a very important
important it’s about a very important
important it’s about a very important year and that year was 1974 and 1974 was
year and that year was 1974 and 1974 was
year and that year was 1974 and 1974 was a year that the u.s. swung from
a year that the u.s. swung from
a year that the u.s. swung from socialism to capitalism a very important
socialism to capitalism a very important
socialism to capitalism a very important reason for prop 19 74 it was one of
reason for prop 19 74 it was one of
reason for prop 19 74 it was one of called ERISA came out and a riskless
called ERISA came out and a riskless
called ERISA came out and a riskless stands for Employee Retirement Income
stands for Employee Retirement Income
stands for Employee Retirement Income Security Act and the government’s
Security Act and the government’s
Security Act and the government’s worried about your security you know
worried about your security you know
worried about your security you know you’re in trouble but also it led to a
you’re in trouble but also it led to a
you’re in trouble but also it led to a thing called the 401 K back in the 1980s
thing called the 401 K back in the 1980s
thing called the 401 K back in the 1980s this is a very big change in the history
this is a very big change in the history
this is a very big change in the history of our world right now
of our world right now
of our world right now so prophecy came out in 2002 it was not
so prophecy came out in 2002 it was not
so prophecy came out in 2002 it was not a very popular book because he was
a very popular book because he was
a very popular book because he was writing about the failure of these
writing about the failure of these
writing about the failure of these things called 401ks and pension plans in
things called 401ks and pension plans in
things called 401ks and pension plans in the crash of Wall Street so this was
the crash of Wall Street so this was
the crash of Wall Street so this was 2002 and then in 2005 Time magazine just
2002 and then in 2005 Time magazine just
2002 and then in 2005 Time magazine just in October of 2005 came out with a front
in October of 2005 came out with a front
in October of 2005 came out with a front page cover of saying the same thing I
page cover of saying the same thing I
page cover of saying the same thing I said here in prophecy that there was
said here in prophecy that there was
said here in prophecy that there was been a big ripoff of people’s pensions
been a big ripoff of people’s pensions
been a big ripoff of people’s pensions and Time magazine three years later in
and Time magazine three years later in
and Time magazine three years later in 2005 is a great retirement ripoff
2005 is a great retirement ripoff
2005 is a great retirement ripoff millions of Americans who retire with
millions of Americans who retire with
millions of Americans who retire with benefits are in for a nasty surprise
benefits are in for a nasty surprise
benefits are in for a nasty surprise corporations are picking people’s
corporations are picking people’s
corporations are picking people’s pockets with the help of Congress and
pockets with the help of Congress and
pockets with the help of Congress and that’s not going on that’s why so many
that’s not going on that’s why so many
that’s not going on that’s why so many people are in trouble and then one day
people are in trouble and then one day
people are in trouble and then one day later the new york times magazine came
later the new york times magazine came
later the new york times magazine came out saying the same thing prophecy did
out saying the same thing prophecy did
out saying the same thing prophecy did and it says we were get to inform you
and it says we were get to inform you
and it says we were get to inform you that you no longer have a pension and
that you no longer have a pension and
that you no longer have a pension and that’s what that’s why USA Today came
that’s what that’s why USA Today came
that’s what that’s why USA Today came out with a statement that said America’s
out with a statement that said America’s
out with a statement that said America’s greatest fear is running out of money
greatest fear is running out of money
greatest fear is running out of money during retirement and that’s what the
during retirement and that’s what the
during retirement and that’s what the this program is about is why we have
this program is about is why we have
this program is about is why we have this problem right now and why so many
this problem right now and why so many
this problem right now and why so many people may be financially wiped out in
people may be financially wiped out in
people may be financially wiped out in the financial horror game that’s hitting
the financial horror game that’s hitting
the financial horror game that’s hitting us and also hopefully what you can do
us and also hopefully what you can do
us and also hopefully what you can do about it so they may be able to save
about it so they may be able to save
about it so they may be able to save your friends and family unfortunately
your friends and family unfortunately
your friends and family unfortunately what I’m about to save tonight will not
what I’m about to save tonight will not
what I’m about to save tonight will not work for everybody as you know life is
work for everybody as you know life is
work for everybody as you know life is not fair but at least you’ll have an
not fair but at least you’ll have an
not fair but at least you’ll have an idea of what you might be able to do on
idea of what you might be able to do on
idea of what you might be able to do on this whole thing
this whole thing
this whole thing so going into it really quickly is the
so going into it really quickly is the
so going into it really quickly is the difference between one of the reasons
difference between one of the reasons
difference between one of the reasons people are are having a big having
people are are having a big having
people are are having a big having trouble is they don’t know the
trouble is they don’t know the
trouble is they don’t know the difference between still can’t spell
difference between still can’t spell
difference between still can’t spell that well wealth and being rich
that well wealth and being rich
that well wealth and being rich I like to explain really quickly that my
I like to explain really quickly that my
I like to explain really quickly that my rich dad taught me that wealth is
rich dad taught me that wealth is
rich dad taught me that wealth is measured in time and rich is measured in
measured in time and rich is measured in
measured in time and rich is measured in money and really quickly the difference
money and really quickly the difference
money and really quickly the difference here is this a person who is when you
here is this a person who is when you
here is this a person who is when you measure wealth for example let’s say you
measure wealth for example let’s say you
measure wealth for example let’s say you have 10000 and savings and your monthly
have 10000 and savings and your monthly
have 10000 and savings and your monthly expenses are a thousand dollars a month
expenses are a thousand dollars a month
expenses are a thousand dollars a month that means you’re ten months wealthy you
that means you’re ten months wealthy you
that means you’re ten months wealthy you will survive for ten months that’s what
will survive for ten months that’s what
will survive for ten months that’s what it means and the reason people are
it means and the reason people are
it means and the reason people are afraid of what’s going to come up with
afraid of what’s going to come up with
afraid of what’s going to come up with them is they don’t have enough wealth
them is they don’t have enough wealth
them is they don’t have enough wealth they’re afraid of running out of money
they’re afraid of running out of money
they’re afraid of running out of money during retirement and what rich is is
during retirement and what rich is is
during retirement and what rich is is trying to measure them times in their
trying to measure them times in their
trying to measure them times in their lives and money so what my rich dad
lives and money so what my rich dad
lives and money so what my rich dad taught me is don’t worry about becoming
taught me is don’t worry about becoming
taught me is don’t worry about becoming rich worry about becoming wealthy and
rich worry about becoming wealthy and
rich worry about becoming wealthy and one of the reasons I was able to retire
one of the reasons I was able to retire
one of the reasons I was able to retire at the age of 47 was because I focus on
at the age of 47 was because I focus on
at the age of 47 was because I focus on being wealthy not being rich and that’s
being wealthy not being rich and that’s
being wealthy not being rich and that’s a very big difference here I thought I’d
a very big difference here I thought I’d
a very big difference here I thought I’d review something a little book called
review something a little book called
review something a little book called the cash flow quadrant I think it’s one
the cash flow quadrant I think it’s one
the cash flow quadrant I think it’s one of the most important books for people
of the most important books for people
of the most important books for people who want to make changes in their lives
who want to make changes in their lives
who want to make changes in their lives because as I said the e stands for
because as I said the e stands for
because as I said the e stands for employee S stands for self-employed or
employee S stands for self-employed or
employee S stands for self-employed or small business being stands for big
small business being stands for big
small business being stands for big business like Bill Gates and I stands
business like Bill Gates and I stands
business like Bill Gates and I stands for investor like Donald Trump or Warren
for investor like Donald Trump or Warren
for investor like Donald Trump or Warren Buffett so you know my poor dad always
Buffett so you know my poor dad always
Buffett so you know my poor dad always said to me son go to school to get a
said to me son go to school to get a
said to me son go to school to get a what job and he was programming me and
what job and he was programming me and
what job and he was programming me and this was the word his program me to be
this was the word his program me to be
this was the word his program me to be an employee and you know I talked to my
an employee and you know I talked to my
an employee and you know I talked to my mom I said you know dad I don’t I don’t
mom I said you know dad I don’t I don’t
mom I said you know dad I don’t I don’t want to be an employee in my desk you
want to be an employee in my desk you
want to be an employee in my desk you must get a job you must get a job you
must get a job you must get a job you
must get a job you must get a job you got to have good education good grades
got to have good education good grades
got to have good education good grades get your PhD oh my goodness my mom says
get your PhD oh my goodness my mom says
get your PhD oh my goodness my mom says don’t argue with your dad you know if
don’t argue with your dad you know if
don’t argue with your dad you know if you want to be rich go to school to
you want to be rich go to school to
you want to be rich go to school to become a doctor you know and yes
become a doctor you know and yes
become a doctor you know and yes specialist nice and I said to my mom’s
specialist nice and I said to my mom’s
specialist nice and I said to my mom’s only one problem mom says what’s that
only one problem mom says what’s that
only one problem mom says what’s that doctors are smart she says you have a
doctors are smart she says you have a
doctors are smart she says you have a good point there
good point there
good point there you know don’t be a doctor
and I talked to my rich dad and he says
and I talked to my rich dad and he says you know Robert are you basically lazy
you know Robert are you basically lazy
you know Robert are you basically lazy and incompetent I said yeah I said good
and incompetent I said yeah I said good
and incompetent I said yeah I said good you’ll do well in business and so this
you’ll do well in business and so this
you’ll do well in business and so this year is having other people work for you
year is having other people work for you
year is having other people work for you like my advisers and things like that
like my advisers and things like that
like my advisers and things like that and this is having money work for me and
and this is having money work for me and
and this is having money work for me and they’re very different educational paths
they’re very different educational paths
they’re very different educational paths another thing my Rich Dad says again
another thing my Rich Dad says again
another thing my Rich Dad says again going to words of vocabulary as
going to words of vocabulary as
going to words of vocabulary as employees always say the same words
employees always say the same words
employees always say the same words whether they’re the janitor or the
whether they’re the janitor or the
whether they’re the janitor or the president of the company the CEO
president of the company the CEO
president of the company the CEO employees all say the same work I’m
employees all say the same work I’m
employees all say the same work I’m looking for a safe secure job with
looking for a safe secure job with
looking for a safe secure job with benefits that’s their whole attitude and
benefits that’s their whole attitude and
benefits that’s their whole attitude and their emotion is fear they don’t visit
their emotion is fear they don’t visit
their emotion is fear they don’t visit they don’t know how survive in the real
they don’t know how survive in the real
they don’t know how survive in the real world they need that they have that fear
world they need that they have that fear
world they need that they have that fear travel and s self-employed their words
travel and s self-employed their words
travel and s self-employed their words are if you want to done right do it by
are if you want to done right do it by
are if you want to done right do it by yourself so these guys a problem with
yourself so these guys a problem with
yourself so these guys a problem with them is they may own a business but they
them is they may own a business but they
them is they may own a business but they really own a job they cannot quit
really own a job they cannot quit
really own a job they cannot quit because they don’t trust other people
because they don’t trust other people
because they don’t trust other people their emotion is trust and a business
their emotion is trust and a business
their emotion is trust and a business owner is like me I want to have the
owner is like me I want to have the
owner is like me I want to have the smartest people around me as much as
smartest people around me as much as
smartest people around me as much as possible because then I don’t have to do
possible because then I don’t have to do
possible because then I don’t have to do that much work and as an I I want to
that much work and as an I I want to
that much work and as an I I want to know how have my money work hard for me
know how have my money work hard for me
know how have my money work hard for me so I don’t have to work hard for money
so I don’t have to work hard for money
so I don’t have to work hard for money so that’s why I started off as an
so that’s why I started off as an
so that’s why I started off as an entrepreneur and over here this is the
entrepreneur and over here this is the
entrepreneur and over here this is the beauty of real estate for every dollar I
beauty of real estate for every dollar I
beauty of real estate for every dollar I make here I bring it down here and my
make here I bring it down here and my
make here I bring it down here and my banker will give me nine more dollars as
banker will give me nine more dollars as
banker will give me nine more dollars as long as it’s real estate tax free money
long as it’s real estate tax free money
long as it’s real estate tax free money so I’m getting ahead faster and faster
so I’m getting ahead faster and faster
so I’m getting ahead faster and faster and faster very simply because for every
and faster very simply because for every
and faster very simply because for every dollar I have here my bankers giving me
dollar I have here my bankers giving me
dollar I have here my bankers giving me eight or nine dollars to get ahead
eight or nine dollars to get ahead
eight or nine dollars to get ahead financially because let me first
financially because let me first
financially because let me first Ascencio their tax free money and if I
Ascencio their tax free money and if I
Ascencio their tax free money and if I sell a property again I do a tax free
sell a property again I do a tax free
sell a property again I do a tax free that’s why I’m getting rich that’s why
that’s why I’m getting rich that’s why
that’s why I’m getting rich that’s why education or financial education is so
education or financial education is so
education or financial education is so important and I think it’s really silly
important and I think it’s really silly
important and I think it’s really silly that our school systems keep saying to
that our school systems keep saying to
that our school systems keep saying to you go to school to get a safe secure
you go to school to get a safe secure
you go to school to get a safe secure what job whence jobs are being exported
what job whence jobs are being exported
what job whence jobs are being exported overseas so fast right now it’s
overseas so fast right now it’s
overseas so fast right now it’s ridiculous
ridiculous
ridiculous i mean i think i think was JP morgan
i mean i think i think was JP morgan
i mean i think i think was JP morgan they just export another 47 hunt for
they just export another 47 hunt for
they just export another 47 hunt for t700 jobs and these are smart guys guys
t700 jobs and these are smart guys guys
t700 jobs and these are smart guys guys with MBAs and all they exported it to
with MBAs and all they exported it to
with MBAs and all they exported it to india
india
india so that’s what’s happening in the world
so that’s what’s happening in the world
so that’s what’s happening in the world but the reason 1974 is so important was
but the reason 1974 is so important was
but the reason 1974 is so important was because when ERISA which when Alan was a
because when ERISA which when Alan was a
because when ERISA which when Alan was a 401k came out it forced these people to
401k came out it forced these people to
401k came out it forced these people to become investors also and that’s why
become investors also and that’s why
become investors also and that’s why this change was such an important change
this change was such an important change
this change was such an important change here so the Laporte point into it is
here so the Laporte point into it is
here so the Laporte point into it is this is that there’s three basic kinds
this is that there’s three basic kinds
this is that there’s three basic kinds of education one is academic the other
of education one is academic the other
of education one is academic the other one is
professional so you go to school to
professional so you go to school to learn reading and writing it’s very very
learn reading and writing it’s very very
learn reading and writing it’s very very important I didn’t do very well here but
important I didn’t do very well here but
important I didn’t do very well here but I did graduate and then professional is
I did graduate and then professional is
I did graduate and then professional is when you become a doctor or a lawyer or
when you become a doctor or a lawyer or
when you become a doctor or a lawyer or something like that that’s those are
something like that that’s those are
something like that that’s those are very important but what I’m saying here
very important but what I’m saying here
very important but what I’m saying here is this in today’s tough in this world
is this in today’s tough in this world
is this in today’s tough in this world there’s three types of education that’s
there’s three types of education that’s
there’s three types of education that’s essential
essential
essential I’m not saying these are not important
I’m not saying these are not important
I’m not saying these are not important I’m saying they’re not enough today you
I’m saying they’re not enough today you
I’m saying they’re not enough today you need more and the third type of
need more and the third type of
need more and the third type of education is education that’s called
financial education so what this program
financial education so what this program is about it’s not so much about these I
is about it’s not so much about these I
is about it’s not so much about these I said these are very important but so is
said these are very important but so is
said these are very important but so is this one right now and I’ve never
this one right now and I’ve never
this one right now and I’ve never understood why our school systems don’t
understood why our school systems don’t
understood why our school systems don’t teach us anything about money
teach us anything about money
teach us anything about money your wonder that yourself why because
your wonder that yourself why because
your wonder that yourself why because rich or poor smart or not so smart we’re
rich or poor smart or not so smart we’re
rich or poor smart or not so smart we’re all going to use money and it’s because
all going to use money and it’s because
all going to use money and it’s because our school systems don’t teach us much
our school systems don’t teach us much
our school systems don’t teach us much about money that’s the reason so many
about money that’s the reason so many
about money that’s the reason so many people are having problems today
people are having problems today
people are having problems today financially and so I’m not blaming Wall
financially and so I’m not blaming Wall
financially and so I’m not blaming Wall Street or people who are financial
Street or people who are financial
Street or people who are financial advisers I’m blaming our education
advisers I’m blaming our education
advisers I’m blaming our education system for not keeping up with the
system for not keeping up with the
system for not keeping up with the changes in time so what happens because
changes in time so what happens because
changes in time so what happens because we don’t have much financial education
we don’t have much financial education
we don’t have much financial education at school we actually learn it from our
at school we actually learn it from our
at school we actually learn it from our families so what happens with poor
families so what happens with poor
families so what happens with poor people is you can look on the screen
people is you can look on the screen
people is you can look on the screen over here in the plasma the poor people
over here in the plasma the poor people
over here in the plasma the poor people tell their kids that the government is
tell their kids that the government is
tell their kids that the government is going to take care of you you should
going to take care of you you should
going to take care of you you should count on Social Security and you should
count on Social Security and you should
count on Social Security and you should count on Medicare and things like this
count on Medicare and things like this
count on Medicare and things like this what the middle class tells their kids
what the middle class tells their kids
what the middle class tells their kids is that they should have a good
is that they should have a good
is that they should have a good education get a good high paying job a
education get a good high paying job a
education get a good high paying job a house and a pension what they are
house and a pension what they are
house and a pension what they are passive investors a passive investor is
passive investors a passive investor is
passive investors a passive investor is somebody who turns their money over to
somebody who turns their money over to
somebody who turns their money over to somebody they hope and pray as an expert
somebody they hope and pray as an expert
somebody they hope and pray as an expert the poor and non investors so the judge
the poor and non investors so the judge
the poor and non investors so the judge being the passive investor and an active
being the passive investor and an active
being the passive investor and an active investor and what the rich t-shirt kids
investor and what the rich t-shirt kids
investor and what the rich t-shirt kids what my rich dad taught me was that I
what my rich dad taught me was that I
what my rich dad taught me was that I should have I should be an entrepreneur
should have I should be an entrepreneur
should have I should be an entrepreneur like Bill Gates or Oprah and I should be
like Bill Gates or Oprah and I should be
like Bill Gates or Oprah and I should be an active investor like Warren Buffett
an active investor like Warren Buffett
an active investor like Warren Buffett or Donald Trump and things like this so
or Donald Trump and things like this so
or Donald Trump and things like this so in this program what you’ll be learning
in this program what you’ll be learning
in this program what you’ll be learning about is the difference between active
about is the difference between active
about is the difference between active investors and passive investors a
investors and passive investors a
investors and passive investors a passive investor is a person always
passive investor is a person always
passive investor is a person always going around saying I have twenty five
going around saying I have twenty five
going around saying I have twenty five thousand
thousand
thousand I have $25,000 what should I do with it
I have $25,000 what should I do with it
I have $25,000 what should I do with it and the first thing I say if I were you
and the first thing I say if I were you
and the first thing I say if I were you I would keep your mouth shut you know
I would keep your mouth shut you know
I would keep your mouth shut you know because if you go around telling people
because if you go around telling people
because if you go around telling people you have $25,000 and you were moron
you have $25,000 and you were moron
you have $25,000 and you were moron somebody will tell you what to do with
somebody will tell you what to do with
somebody will tell you what to do with that money and they’re gonna tell you to
that money and they’re gonna tell you to
that money and they’re gonna tell you to give it to them does that make sense you
give it to them does that make sense you
give it to them does that make sense you guys here so that’s what this program is
guys here so that’s what this program is
guys here so that’s what this program is about so that at least you can help
about so that at least you can help
about so that at least you can help determine a good financial advisor and
determine a good financial advisor and
determine a good financial advisor and hey bad one because if you don’t know
hey bad one because if you don’t know
hey bad one because if you don’t know what you do with your money somebody
what you do with your money somebody
what you do with your money somebody else does so when we come back I’ll be
else does so when we come back I’ll be
else does so when we come back I’ll be teaching more about financial education
teaching more about financial education
teaching more about financial education and the secret boards that can change
and the secret boards that can change
and the secret boards that can change over
I just love the way Robert Kiyosaki
I just love the way Robert Kiyosaki I’ll make your calls join here’s Robert
I’ll make your calls join here’s Robert
I’ll make your calls join here’s Robert Kiyosaki with rich dad’s guide to wealth
the quick reminder what we covered in
the quick reminder what we covered in the last part was in 1974 the United
the last part was in 1974 the United
the last part was in 1974 the United States change of the world change
States change of the world change
States change of the world change actually from socialism to capitalism
actually from socialism to capitalism
actually from socialism to capitalism and the reason that’s so important is
and the reason that’s so important is
and the reason that’s so important is because the world changed and shifted to
because the world changed and shifted to
because the world changed and shifted to a 401k or pension plans is because it
a 401k or pension plans is because it
a 401k or pension plans is because it forced many people who were easy neces
forced many people who were easy neces
forced many people who were easy neces to become investors like I said my poor
to become investors like I said my poor
to become investors like I said my poor dad was a very smart good man but he was
dad was a very smart good man but he was
dad was a very smart good man but he was a non investor there’s people who are
a non investor there’s people who are
a non investor there’s people who are passive investors and that’s what most
passive investors and that’s what most
passive investors and that’s what most people are they go to their company that
people are they go to their company that
people are they go to their company that has given put into the 401k and they
has given put into the 401k and they
has given put into the 401k and they hope and pray that person managing their
hope and pray that person managing their
hope and pray that person managing their money is smarter than they are and the
money is smarter than they are and the
money is smarter than they are and the third type is the active investor now if
third type is the active investor now if
third type is the active investor now if you’re going to be an active investor
you’re going to be an active investor
you’re going to be an active investor then you have to have financial
then you have to have financial
then you have to have financial education and one of the keys to
education and one of the keys to
education and one of the keys to financial education you know a lot of
financial education you know a lot of
financial education you know a lot of people say well it takes money to make
people say well it takes money to make
people say well it takes money to make money
money
money some people ever heard that statement
some people ever heard that statement
some people ever heard that statement well that that’s absolutely not true
well that that’s absolutely not true
well that that’s absolutely not true because you’ll prove tonight it doesn’t
because you’ll prove tonight it doesn’t
because you’ll prove tonight it doesn’t take money to get money to make money
take money to get money to make money
take money to get money to make money what it begins with is a thing called
what it begins with is a thing called
what it begins with is a thing called words or vocabulary the English language
words or vocabulary the English language
words or vocabulary the English language has approximately two million words in
has approximately two million words in
has approximately two million words in it and each of us as individuals the
it and each of us as individuals the
it and each of us as individuals the estimate has command of about five
estimate has command of about five
estimate has command of about five thousand words so one of the ways to
thousand words so one of the ways to
thousand words so one of the ways to start increasing your wealth and your
start increasing your wealth and your
start increasing your wealth and your financial ability is change your
financial ability is change your
financial ability is change your vocabulary and one of the reasons my
vocabulary and one of the reasons my
vocabulary and one of the reasons my poor debt was poor it’s a good man he
poor debt was poor it’s a good man he
poor debt was poor it’s a good man he had the vocabulary of a schoolteacher
had the vocabulary of a schoolteacher
had the vocabulary of a schoolteacher you know he thought Germans and
you know he thought Germans and
you know he thought Germans and prepositions were really important but
prepositions were really important but
prepositions were really important but I’ve never made a dollar off a German or
I’ve never made a dollar off a German or
I’ve never made a dollar off a German or a preposition yet that I know of you
a preposition yet that I know of you
a preposition yet that I know of you know I needed to be abitt ah Pease ro
know I needed to be abitt ah Pease ro
know I needed to be abitt ah Pease ro eyes IRR that’s what makes me rich so
eyes IRR that’s what makes me rich so
eyes IRR that’s what makes me rich so just know that words make you rich and
just know that words make you rich and
just know that words make you rich and I’ve been going into right now the basis
I’ve been going into right now the basis
I’ve been going into right now the basis of financial education is words and this
of financial education is words and this
of financial education is words and this here is a thing called the financial
here is a thing called the financial
here is a thing called the financial statement as my rich dad often said to
statement as my rich dad often said to
statement as my rich dad often said to me you know this is your report card
me you know this is your report card
me you know this is your report card when you grow up when you leave school
when you grow up when you leave school
when you grow up when you leave school as my Rich Dad said his banker has never
as my Rich Dad said his banker has never
as my Rich Dad said his banker has never ever asked to see his report card yet
ever asked to see his report card yet
ever asked to see his report card yet you know banker never said say Robert
you know banker never said say Robert
you know banker never said say Robert can you tell me what college went to are
can you tell me what college went to are
can you tell me what college went to are you an A student
you an A student
you an A student are you abhi student they never asked
are you abhi student they never asked
are you abhi student they never asked them if you’re a professional investor
them if you’re a professional investor
them if you’re a professional investor they will ask you for something called a
they will ask you for something called a
they will ask you for something called a financial statement if you’re a non
financial statement if you’re a non
financial statement if you’re a non investor or a passive investor like a
investor or a passive investor like a
investor or a passive investor like a 401k they’ll ask you for a credit report
401k they’ll ask you for a credit report
401k they’ll ask you for a credit report so to begin becoming rich it’s you you
so to begin becoming rich it’s you you
so to begin becoming rich it’s you you must have one of these I mean it’s a
must have one of these I mean it’s a
must have one of these I mean it’s a must these people have credit reports
must these people have credit reports
must these people have credit reports these people have financial statements
these people have financial statements
these people have financial statements it’s very very big differences here so
it’s very very big differences here so
it’s very very big differences here so let’s begin with words here and one of
let’s begin with words here and one of
let’s begin with words here and one of the biggest words that people have
the biggest words that people have
the biggest words that people have mistaken on the wrong definition for are
mistaken on the wrong definition for are
mistaken on the wrong definition for are these words here assets and liabilities
these words here assets and liabilities
these words here assets and liabilities how many people have ever heard people
how many people have ever heard people
how many people have ever heard people say my house is an asset good that’s
say my house is an asset good that’s
say my house is an asset good that’s using the wrong definition that’s the
using the wrong definition that’s the
using the wrong definition that’s the problem so I’ll give you the definition
problem so I’ll give you the definition
problem so I’ll give you the definition my rich dad gave me you won’t find this
my rich dad gave me you won’t find this
my rich dad gave me you won’t find this in the regular dictionary oh this is a
in the regular dictionary oh this is a
in the regular dictionary oh this is a very simple definition because this is
very simple definition because this is
very simple definition because this is the guy to wealth a definition of an
the guy to wealth a definition of an
the guy to wealth a definition of an asset is something that puts money in
asset is something that puts money in
asset is something that puts money in your pocket whether you work or not
your pocket whether you work or not
your pocket whether you work or not that’s very simply it ok so when you
that’s very simply it ok so when you
that’s very simply it ok so when you look at this financial statement this is
look at this financial statement this is
look at this financial statement this is an income statement and balance sheet
an income statement and balance sheet
an income statement and balance sheet there’s one more form that basic a
there’s one more form that basic a
there’s one more form that basic a common accountant but basic County
common accountant but basic County
common accountant but basic County requires it’s called a statement of
cash flow and what that shows you here
cash flow and what that shows you here is this assets are putting money in your
is this assets are putting money in your
is this assets are putting money in your pocket
pocket so for example I have a house and every
so for example I have a house and every
so for example I have a house and every month let’s say I collect a hundred
month let’s say I collect a hundred
month let’s say I collect a hundred dollars from after paying all my
dollars from after paying all my
dollars from after paying all my expenses the house is an asset but if
expenses the house is an asset but if
expenses the house is an asset but if the house goes on rented and every month
the house goes on rented and every month
the house goes on rented and every month is now costing me money that same house
is now costing me money that same house
is now costing me money that same house is a what liability so this is the cash
is a what liability so this is the cash
is a what liability so this is the cash flow pattern of a liability so when a
flow pattern of a liability so when a
flow pattern of a liability so when a person says their house is an asset I
person says their house is an asset I
person says their house is an asset I then ask them I say is that house
then ask them I say is that house
then ask them I say is that house putting money in your pocket they so
putting money in your pocket they so
putting money in your pocket they so know nobody’s gone up in value that
know nobody’s gone up in value that
know nobody’s gone up in value that shows lack of financial intelligence or
shows lack of financial intelligence or
shows lack of financial intelligence or financial IQ okay I’m not saying don’t
financial IQ okay I’m not saying don’t
financial IQ okay I’m not saying don’t buy a big house I’m not saying any of
buy a big house I’m not saying any of
buy a big house I’m not saying any of that stuff I’m just saying don’t call a
that stuff I’m just saying don’t call a
that stuff I’m just saying don’t call a liability a what asset and that’s the
liability a what asset and that’s the
liability a what asset and that’s the problem is using the wrong word for the
problem is using the wrong word for the
problem is using the wrong word for the wrong thing or I could have a car if I
wrong thing or I could have a car if I
wrong thing or I could have a car if I use a car as a taxi and every month I’d
use a car as a taxi and every month I’d
use a car as a taxi and every month I’d put a thousand dollars in my pocket it’s
put a thousand dollars in my pocket it’s
put a thousand dollars in my pocket it’s an asset but I have my BMW here and it’s
an asset but I have my BMW here and it’s
an asset but I have my BMW here and it’s costing me a thousand dollars a month
costing me a thousand dollars a month
costing me a thousand dollars a month it’s a liability so that’s very simply
it’s a liability so that’s very simply
it’s a liability so that’s very simply it so don’t call asset or liabilities
it so don’t call asset or liabilities
it so don’t call asset or liabilities assets and that’s where people get in
assets and that’s where people get in
assets and that’s where people get in trouble the next thing up is sale your
trouble the next thing up is sale your
trouble the next thing up is sale your banker my banker has never asked me for
banker my banker has never asked me for
banker my banker has never asked me for my report card yet and my banker if I’m
my report card yet and my banker if I’m
my report card yet and my banker if I’m gonna borrow a lot of money from them
gonna borrow a lot of money from them
gonna borrow a lot of money from them they want to see my financials and what
they want to see my financials and what
they want to see my financials and what a banker was looking for is your
a banker was looking for is your
a banker was looking for is your financial IQ they don’t care how your
financial IQ they don’t care how your
financial IQ they don’t care how your academic IQ they want to see how smart
academic IQ they want to see how smart
academic IQ they want to see how smart you are with money and it’s not that I
you are with money and it’s not that I
you are with money and it’s not that I you know wear nice clothes and have a
you know wear nice clothes and have a
you know wear nice clothes and have a nice watch and have a nice house a nice
nice watch and have a nice house a nice
nice watch and have a nice house a nice car banker doesn’t care because how many
car banker doesn’t care because how many
car banker doesn’t care because how many people know people who are looking good
people know people who are looking good
people know people who are looking good but I flat broke I’m talking about here
but I flat broke I’m talking about here
but I flat broke I’m talking about here so and that’s that’s the big problem
so and that’s that’s the big problem
so and that’s that’s the big problem here so when a banker looks at this
here so when a banker looks at this
here so when a banker looks at this thing the banker is looking again at
thing the banker is looking again at
thing the banker is looking again at cash flow so when a banker looks at this
cash flow so when a banker looks at this
cash flow so when a banker looks at this let’s say the person has a job the money
let’s say the person has a job the money
let’s say the person has a job the money comes in and the money goes out they
comes in and the money goes out they
comes in and the money goes out they look at that that’s a cash flow pattern
look at that that’s a cash flow pattern
look at that that’s a cash flow pattern of a poor person if they don’t change
of a poor person if they don’t change
of a poor person if they don’t change your pattern they’ll be poor it is not
your pattern they’ll be poor it is not
your pattern they’ll be poor it is not how much money you make it is how much
how much money you make it is how much
how much money you make it is how much money you spend is the
money you spend is the
money you spend is the issue here for example I know of a
issue here for example I know of a
issue here for example I know of a doctor friend he makes about $400,000 a
doctor friend he makes about $400,000 a
doctor friend he makes about $400,000 a year he’s very proud he has no debts you
year he’s very proud he has no debts you
year he’s very proud he has no debts you know he’s one of people think that debts
know he’s one of people think that debts
know he’s one of people think that debts bad and that’s really moronic
bad and that’s really moronic
bad and that’s really moronic but anyway so but he’s people he makes a
but anyway so but he’s people he makes a
but anyway so but he’s people he makes a hunt 400,000 and he spends 400,000 so
hunt 400,000 and he spends 400,000 so
hunt 400,000 and he spends 400,000 so even though he makes a lot of money he
even though he makes a lot of money he
even though he makes a lot of money he has a cash flow pattern of a what poor
has a cash flow pattern of a what poor
has a cash flow pattern of a what poor person what the middle class generally
person what the middle class generally
person what the middle class generally tend to do is the first thing they want
tend to do is the first thing they want
tend to do is the first thing they want to do is have a big house and they have
to do is have a big house and they have
to do is have a big house and they have a thing called a mortgage and the
a thing called a mortgage and the
a thing called a mortgage and the different definition of mortgage comes
different definition of mortgage comes
different definition of mortgage comes from the French word more tier which
from the French word more tier which
from the French word more tier which means death that’s pretty neat so what
means death that’s pretty neat so what
means death that’s pretty neat so what happens they have a mortgage gets a nice
happens they have a mortgage gets a nice
happens they have a mortgage gets a nice BMW or Mercedes so they’re looking good
BMW or Mercedes so they’re looking good
BMW or Mercedes so they’re looking good but going broke you know so in the
but going broke you know so in the
but going broke you know so in the banker they come in with their nice
banker they come in with their nice
banker they come in with their nice suits and all this the banker looks at
suits and all this the banker looks at
suits and all this the banker looks at it and goes ah I can see a cash flow
it and goes ah I can see a cash flow
it and goes ah I can see a cash flow pattern as this and this is the cash
pattern as this and this is the cash
pattern as this and this is the cash flow pattern of a middle-class it’s
flow pattern of a middle-class it’s
flow pattern of a middle-class it’s working hard and going broke you know
working hard and going broke you know
working hard and going broke you know they never get ahead they buy big houses
they never get ahead they buy big houses
they never get ahead they buy big houses they do home equity loans and they think
they do home equity loans and they think
they do home equity loans and they think they’re a Donald Trump with realist has
they’re a Donald Trump with realist has
they’re a Donald Trump with realist has real estate investors all that God has a
real estate investors all that God has a
real estate investors all that God has a big house they’re in debt to a lot of
big house they’re in debt to a lot of
big house they’re in debt to a lot of people use their house as an ATM machine
people use their house as an ATM machine
people use their house as an ATM machine and every time that goes up to failure
and every time that goes up to failure
and every time that goes up to failure to borrow the money out know that is
to borrow the money out know that is
to borrow the money out know that is really a losers point of view I mean
really a losers point of view I mean
really a losers point of view I mean that’s not bankers loving but you’re
that’s not bankers loving but you’re
that’s not bankers loving but you’re greatly in debt but it’s not a way to
greatly in debt but it’s not a way to
greatly in debt but it’s not a way to get ahead and this is the cash flow
get ahead and this is the cash flow
get ahead and this is the cash flow pattern of a rich person they have
pattern of a rich person they have
pattern of a rich person they have assets here and so generally what it is
assets here and so generally what it is
assets here and so generally what it is is they have a business they have real
is they have a business they have real
is they have a business they have real estate and they may have dividends from
estate and they may have dividends from
estate and they may have dividends from stocks and bonds and stuff like that or
stocks and bonds and stuff like that or
stocks and bonds and stuff like that or interest at so those are assets so
interest at so those are assets so
interest at so those are assets so oftentimes I ask people think about it
oftentimes I ask people think about it
oftentimes I ask people think about it this way if you stopped working today
this way if you stopped working today
this way if you stopped working today let’s say you’re married you have a
let’s say you’re married you have a
let’s say you’re married you have a spouse if you stopped working today how
spouse if you stopped working today how
spouse if you stopped working today how much money keeps coming in your pocket
much money keeps coming in your pocket
much money keeps coming in your pocket and how much money keeps going out all
and how much money keeps going out all
and how much money keeps going out all the things that are taking money out of
the things that are taking money out of
the things that are taking money out of your pocket are what liabilities and I
your pocket are what liabilities and I
your pocket are what liabilities and I think putting money in your pocket is
think putting money in your pocket is
think putting money in your pocket is and asset so the reason my wife and I
and asset so the reason my wife and I
and asset so the reason my wife and I could retire is very simply we have
could retire is very simply we have
could retire is very simply we have money going like this this means we’re
money going like this this means we’re
money going like this this means we’re wealthy
wealthy
wealthy you know we don’t have much in savings
you know we don’t have much in savings
you know we don’t have much in savings and all that but every month it’s
and all that but every month it’s
and all that but every month it’s hundreds of thousands of dollars going
hundreds of thousands of dollars going
hundreds of thousands of dollars going like this and that’s how you get wealthy
like this and that’s how you get wealthy
like this and that’s how you get wealthy you know just have assets to produce
you know just have assets to produce
you know just have assets to produce money every single month when I did this
money every single month when I did this
money every single month when I did this program in Singapore I asked people
program in Singapore I asked people
program in Singapore I asked people raise their hand and say would you mind
raise their hand and say would you mind
raise their hand and say would you mind telling me some of the assets you have
telling me some of the assets you have
telling me some of the assets you have it’s women raise their hands yes she
it’s women raise their hands yes she
it’s women raise their hands yes she says ah my best asset is my husband and
says ah my best asset is my husband and
says ah my best asset is my husband and I said ma’am ma’am I’m talking about
I said ma’am ma’am I’m talking about
I said ma’am ma’am I’m talking about non-human inanimate objects she says
non-human inanimate objects she says
non-human inanimate objects she says that’s it might make lots of money for
that’s it might make lots of money for
that’s it might make lots of money for me I’m not talking about human being
me I’m not talking about human being
me I’m not talking about human being slavery has been you know abolished for
slavery has been you know abolished for
slavery has been you know abolished for a while here and all of this so I said
a while here and all of this so I said
a while here and all of this so I said there’s been assets versus liabilities
there’s been assets versus liabilities
there’s been assets versus liabilities the cash flow pattern and that’s why
the cash flow pattern and that’s why
the cash flow pattern and that’s why bankers do not ask you for your what
bankers do not ask you for your what
bankers do not ask you for your what report card they want to see your
report card they want to see your
report card they want to see your financial statement if you have a good
financial statement if you have a good
financial statement if you have a good financial IQ they’ll give you lots of
financial IQ they’ll give you lots of
financial IQ they’ll give you lots of money even bad financial IQ they’ll give
money even bad financial IQ they’ll give
money even bad financial IQ they’ll give you a credit card or home equity loan
you a credit card or home equity loan
you a credit card or home equity loan that’s the difference and years and
that’s the difference and years and
that’s the difference and years and years ago I went to Sunday school I’m
years ago I went to Sunday school I’m
years ago I went to Sunday school I’m not a Bible start scholar not pushing
not a Bible start scholar not pushing
not a Bible start scholar not pushing pledge on anybody I remember the story
pledge on anybody I remember the story
pledge on anybody I remember the story of the you know the rich man I think he
of the you know the rich man I think he
of the you know the rich man I think he had three sons with some blenders and he
had three sons with some blenders and he
had three sons with some blenders and he gave one son X amount of dollars for the
gave one son X amount of dollars for the
gave one son X amount of dollars for the second son X one of the talents you call
second son X one of the talents you call
second son X one of the talents you call them and then the third son talents and
them and then the third son talents and
them and then the third son talents and the first sign blew it got rid of all
the first sign blew it got rid of all
the first sign blew it got rid of all its money and he said okay second son
its money and he said okay second son
its money and he said okay second son came in and what you do with the money
came in and what you do with the money
came in and what you do with the money in a son said I buried it and then the
in a son said I buried it and then the
in a son said I buried it and then the third son multiplied it you know came
third son multiplied it you know came
third son multiplied it you know came back with give him a thousand dollars
back with give him a thousand dollars
back with give him a thousand dollars came back with $5,000 and at that point
came back with $5,000 and at that point
came back with $5,000 and at that point the father or whoever the guy was took
the father or whoever the guy was took
the father or whoever the guy was took all of the money and gave it to the what
all of the money and gave it to the what
all of the money and gave it to the what the third son who multiplied the money
the third son who multiplied the money
the third son who multiplied the money and that’s what I learned in Sunday
and that’s what I learned in Sunday
and that’s what I learned in Sunday school is that not God where ever does
school is that not God where ever does
school is that not God where ever does not like people who blow their money
not like people who blow their money
not like people who blow their money people would just bury the money see the
people would just bury the money see the
people would just bury the money see the poor spend their money the middle-class
poor spend their money the middle-class
poor spend their money the middle-class bury their money you know just put it in
bury their money you know just put it in
bury their money you know just put it in 401ks or savings and the rich know how
401ks or savings and the rich know how
401ks or savings and the rich know how to multiply their money so the real key
to multiply their money so the real key
to multiply their money so the real key is this is not so much how much income
is this is not so much how much income
is this is not so much how much income you make but where you put your money
you make but where you put your money
you make but where you put your money its expenses do you expense your money
its expenses do you expense your money
its expenses do you expense your money in this way this way or this way and
in this way this way or this way and
in this way this way or this way and it’s why people who always try to make
it’s why people who always try to make
it’s why people who always try to make more money they don’t get ahead
more money they don’t get ahead
more money they don’t get ahead very simply because they’re looking in
very simply because they’re looking in
very simply because they’re looking in the wrong place it’s over here is what
the wrong place it’s over here is what
the wrong place it’s over here is what do you spend your time and money on
do you spend your time and money on
do you spend your time and money on that’s why I thank you guys for you know
that’s why I thank you guys for you know
that’s why I thank you guys for you know being here tonight and those you’ve got
being here tonight and those you’ve got
being here tonight and those you’ve got home supporting Public Television and
home supporting Public Television and
home supporting Public Television and your education you’re spending time and
your education you’re spending time and
your education you’re spending time and hopefully some money to support your
hopefully some money to support your
hopefully some money to support your education and a great cause here and
education and a great cause here and
education and a great cause here and that’s really important is how you spend
that’s really important is how you spend
that’s really important is how you spend your time and your money that makes the
your time and your money that makes the
your time and your money that makes the difference and then the third thing is
difference and then the third thing is
difference and then the third thing is this just to cover this thing while your
this just to cover this thing while your
this just to cover this thing while your house is not an asset is when your
house is not an asset is when your
house is not an asset is when your banker says your house is an asset your
banker says your house is an asset your
banker says your house is an asset your banker is not lying to you this will
banker is not lying to you this will
banker is not lying to you this will explain it better because to understand
explain it better because to understand
explain it better because to understand this if you have a mortgage on a balance
this if you have a mortgage on a balance
this if you have a mortgage on a balance sheet it must balance over mortgage is
sheet it must balance over mortgage is
sheet it must balance over mortgage is your liability it has to balance the
your liability it has to balance the
your liability it has to balance the your same mortgage as your bank’s asset
your same mortgage as your bank’s asset
your same mortgage as your bank’s asset that’s the difference so that’s why your
that’s the difference so that’s why your
that’s the difference so that’s why your banker says your house is an asset not
banker says your house is an asset not
banker says your house is an asset not saying it’s not lying to you it’s just
saying it’s not lying to you it’s just
saying it’s not lying to you it’s just saying it’s not whose asset is it’s
saying it’s not whose asset is it’s
saying it’s not whose asset is it’s their asset you know and the way you
their asset you know and the way you
their asset you know and the way you know that again is assets put money in
know that again is assets put money in
know that again is assets put money in your pockets and liabilities what take
your pockets and liabilities what take
your pockets and liabilities what take money from your pocket so when you look
money from your pocket so when you look
money from your pocket so when you look at this money comes in when it goes out
at this money comes in when it goes out
at this money comes in when it goes out goes in here and comes back here so it’s
goes in here and comes back here so it’s
goes in here and comes back here so it’s taking money from your pocket and it’s
taking money from your pocket and it’s
taking money from your pocket and it’s putting money in the bank’s pocket and
putting money in the bank’s pocket and
putting money in the bank’s pocket and that is basically you know why your
that is basically you know why your
that is basically you know why your banker says your house is an asset and
banker says your house is an asset and
banker says your house is an asset and why it’s very important to understand
why it’s very important to understand
why it’s very important to understand the definition of the word you use don’t
the definition of the word you use don’t
the definition of the word you use don’t just use a work because if you keep
just use a work because if you keep
just use a work because if you keep saying your house as an asset when
saying your house as an asset when
saying your house as an asset when there’s a liability where you say a car
there’s a liability where you say a car
there’s a liability where you say a car is an asset when it’s really a liability
is an asset when it’s really a liability
is an asset when it’s really a liability and your vacation to Hawaii that’s it
and your vacation to Hawaii that’s it
and your vacation to Hawaii that’s it for the liability or your home equity
for the liability or your home equity
for the liability or your home equity loan is an asset you’re gonna not gonna
loan is an asset you’re gonna not gonna
loan is an asset you’re gonna not gonna make it does that make sense you guys
make it does that make sense you guys
make it does that make sense you guys here but what most people tell you is
here but what most people tell you is
here but what most people tell you is this repeat after me work hard save
this repeat after me work hard save
this repeat after me work hard save money get out of debt invest for the
money get out of debt invest for the
money get out of debt invest for the long-term and diversify how many people
long-term and diversify how many people
long-term and diversify how many people heard this okay and the reason I bring
heard this okay and the reason I bring
heard this okay and the reason I bring this up here is that because around 1996
this up here is that because around 1996
this up here is that because around 1996 I was watching this very famous Morning
I was watching this very famous Morning
I was watching this very famous Morning Show you know that broadcast all across
Show you know that broadcast all across
Show you know that broadcast all across the nation and they have these nice
the nation and they have these nice
the nation and they have these nice handsome you know couple who was a host
handsome you know couple who was a host
handsome you know couple who was a host and hostess and they come and say and
and hostess and they come and say and
and hostess and they come and say and today we have the financial expert of
today we have the financial expert of
today we have the financial expert of all times
all times
all times and he’s going to give us the financial
and he’s going to give us the financial
and he’s going to give us the financial advice what I knew
advice what I knew
advice what I knew it’s like 1996 or whatever it was you
it’s like 1996 or whatever it was you
it’s like 1996 or whatever it was you know and it welcomed so-and-so in there
know and it welcomed so-and-so in there
know and it welcomed so-and-so in there clap you know and out comes a financial
clap you know and out comes a financial
clap you know and out comes a financial expert and he goes hi everybody
expert and he goes hi everybody
expert and he goes hi everybody yeah what I recommend for this year 1997
yeah what I recommend for this year 1997
yeah what I recommend for this year 1997 is work hard save money get out of debt
is work hard save money get out of debt
is work hard save money get out of debt I can even do it straight in the long
I can even do it straight in the long
I can even do it straight in the long term and diversify and the and the whole
financial we thank you the next year
financial we thank you the next year then by the back same thing and for the
then by the back same thing and for the
then by the back same thing and for the new year I recommend you guys what work
new year I recommend you guys what work
new year I recommend you guys what work hard save money get out of debt invest
hard save money get out of debt invest
hard save money get out of debt invest for the long-term and diversify and the
for the long-term and diversify and the
for the long-term and diversify and the hosted hosted oh I can’t believe what a
hosted hosted oh I can’t believe what a
hosted hosted oh I can’t believe what a genius what a financial team just give
genius what a financial team just give
genius what a financial team just give in my head I can’t believe every year
in my head I can’t believe every year
in my head I can’t believe every year same guy same message same advice they
same guy same message same advice they
same guy same message same advice they think it’s brilliant
think it’s brilliant
think it’s brilliant then after 2000 the stock market started
then after 2000 the stock market started
then after 2000 the stock market started to crash and they brained the same
to crash and they brained the same
to crash and they brained the same expert on and he comes on and what does
expert on and he comes on and what does
expert on and he comes on and what does he say what I recommend is work hard
he say what I recommend is work hard
he say what I recommend is work hard save money get out of debt invest for
save money get out of debt invest for
save money get out of debt invest for the long-term and diversify and the
the long-term and diversify and the
the long-term and diversify and the market kept crashing and he skipped gave
market kept crashing and he skipped gave
market kept crashing and he skipped gave the same advice and this is what I want
the same advice and this is what I want
the same advice and this is what I want to say about that advice between the
to say about that advice between the
to say about that advice between the year 2000 and 2004 millions of small
year 2000 and 2004 millions of small
year 2000 and 2004 millions of small investors lost an estimated 7 to 9
investors lost an estimated 7 to 9
investors lost an estimated 7 to 9 trillion dollars the same time Wall
trillion dollars the same time Wall
trillion dollars the same time Wall Street pays them as big as bonuses out
Street pays them as big as bonuses out
Street pays them as big as bonuses out and this is the advice that we’re giving
and this is the advice that we’re giving
and this is the advice that we’re giving people here I want to save you this
people here I want to save you this
people here I want to save you this advice used to work it doesn’t work
advice used to work it doesn’t work
advice used to work it doesn’t work today I’m not saying it’s bad advice and
today I’m not saying it’s bad advice and
today I’m not saying it’s bad advice and it’s just saying it used to work after
it’s just saying it used to work after
it’s just saying it used to work after 1994 1974 it started to change and what
1994 1974 it started to change and what
1994 1974 it started to change and what I’m gonna be going into is how that
I’m gonna be going into is how that
I’m gonna be going into is how that change came about and why people are
change came about and why people are
change came about and why people are getting in trouble following this advice
getting in trouble following this advice
getting in trouble following this advice especially this one here because you’re
especially this one here because you’re
especially this one here because you’re gonna find out the most risky of all
gonna find out the most risky of all
gonna find out the most risky of all investments are savings stocks bonds and
investments are savings stocks bonds and
investments are savings stocks bonds and mutual funds they are the riskiest of
mutual funds they are the riskiest of
mutual funds they are the riskiest of all investments but most people think
all investments but most people think
all investments but most people think they’re safe and that’s what you’ll find
they’re safe and that’s what you’ll find
they’re safe and that’s what you’ll find out and that’s why I thank Public
out and that’s why I thank Public
out and that’s why I thank Public Television for allowing me to say what
Television for allowing me to say what
Television for allowing me to say what I’m going to say because there’s many
I’m going to say because there’s many
I’m going to say because there’s many people as I said in organizations who do
people as I said in organizations who do
people as I said in organizations who do not want me to tell you what I’m about
not want me to tell you what I’m about
not want me to tell you what I’m about to tell you and all the little people
to tell you and all the little people
to tell you and all the little people they hire who are financial experts but
they hire who are financial experts but
they hire who are financial experts but they’re not really financial experts do
they’re not really financial experts do
they’re not really financial experts do you realize most of financial experts
you realize most of financial experts
you realize most of financial experts are not eyes they’re really ease and s’s
are not eyes they’re really ease and s’s
are not eyes they’re really ease and s’s their sales people and I’ll be going
their sales people and I’ll be going
their sales people and I’ll be going into some of those differences okay so I
into some of those differences okay so I
into some of those differences okay so I know I’m an investor very simply because
know I’m an investor very simply because
know I’m an investor very simply because I live by my income on my investments
I live by my income on my investments
I live by my income on my investments I don’t live by my commissions and
I don’t live by my commissions and
I don’t live by my commissions and there’s a very big difference so going
there’s a very big difference so going
there’s a very big difference so going into it the reason work hard is obsolete
into it the reason work hard is obsolete
into it the reason work hard is obsolete advice is because 1943 the US government
advice is because 1943 the US government
advice is because 1943 the US government punished anybody was an employee after
punished anybody was an employee after
punished anybody was an employee after 1940 if there was a thing called current
1940 if there was a thing called current
1940 if there was a thing called current tax payment net at that point anybody
tax payment net at that point anybody
tax payment net at that point anybody who was an employee the government got
who was an employee the government got
who was an employee the government got paid first how many we ever opened up
paid first how many we ever opened up
paid first how many we ever opened up your own your paycheck and gone what
your own your paycheck and gone what
your own your paycheck and gone what happened to my money
happened to my money
happened to my money that was 1943 so the problem with being
that was 1943 so the problem with being
that was 1943 so the problem with being an employee and working hard is the more
an employee and working hard is the more
an employee and working hard is the more you work and the more money you make you
you work and the more money you make you
you work and the more money you make you go up in tax brackets if you don’t get a
go up in tax brackets if you don’t get a
go up in tax brackets if you don’t get a hit these guys here are taxed heavily
hit these guys here are taxed heavily
hit these guys here are taxed heavily these guys have all the tax loopholes
these guys have all the tax loopholes
these guys have all the tax loopholes that’s why I can make it make a lot of
that’s why I can make it make a lot of
that’s why I can make it make a lot of money and pay zero taxes legally the
money and pay zero taxes legally the
money and pay zero taxes legally the difference is I’m on this side here but
difference is I’m on this side here but
difference is I’m on this side here but our school system teaches us to bend
our school system teaches us to bend
our school system teaches us to bend this side in 1986 they passed an 86 tax
this side in 1986 they passed an 86 tax
this side in 1986 they passed an 86 tax reform Act and they taxed all doctors
reform Act and they taxed all doctors
reform Act and they taxed all doctors lawyers all the aged students they
lawyers all the aged students they
lawyers all the aged students they nailed and so well the attorneys I don’t
nailed and so well the attorneys I don’t
nailed and so well the attorneys I don’t mind but anyway but what happened here
mind but anyway but what happened here
mind but anyway but what happened here is this is that guys like me you know
is this is that guys like me you know
is this is that guys like me you know the C students we can make more money
the C students we can make more money
the C students we can make more money and pay less taxes than the a students
and pay less taxes than the a students
and pay less taxes than the a students which proves there’s a god somewhere the
which proves there’s a god somewhere the
which proves there’s a god somewhere the next thing is saved money the reason
next thing is saved money the reason
next thing is saved money the reason save money is an obsolete a dumb idea is
save money is an obsolete a dumb idea is
save money is an obsolete a dumb idea is because in 1971 a man named President
because in 1971 a man named President
because in 1971 a man named President Nixon took us off what’s called the gold
Nixon took us off what’s called the gold
Nixon took us off what’s called the gold standard will the Bretton Woods
standard will the Bretton Woods
standard will the Bretton Woods Agreement and at that point what
Agreement and at that point what
Agreement and at that point what happened in 1971 money turned into a
currency so what you started to save
currency so what you started to save after 1971 was not money but a currency
after 1971 was not money but a currency
after 1971 was not money but a currency and the problem with the currency is the
and the problem with the currency is the
and the problem with the currency is the government can print it faster than you
government can print it faster than you
government can print it faster than you can save it another thing about this if
can save it another thing about this if
can save it another thing about this if you understand economics especially
you understand economics especially
you understand economics especially Keynesian economics is that
when you look at a dollar a currency
when you look at a dollar a currency let’s say this is one dollar and this is
let’s say this is one dollar and this is
let’s say this is one dollar and this is forty years here a currency is designed
forty years here a currency is designed
forty years here a currency is designed to go down to five cents over forty
to go down to five cents over forty
to go down to five cents over forty years a currency is designed to lose
years a currency is designed to lose
years a currency is designed to lose money so the government can keep running
money so the government can keep running
money so the government can keep running up debt that’s the reason so they can
up debt that’s the reason so they can
up debt that’s the reason so they can print it faster than you can save that’s
print it faster than you can save that’s
print it faster than you can save that’s the big problem with the next thing is
the big problem with the next thing is
the big problem with the next thing is this if you look at the real stats does
this if you look at the real stats does
this if you look at the real stats does this and it’s a reason I don’t save
this and it’s a reason I don’t save
this and it’s a reason I don’t save money if you look at this the last few
money if you look at this the last few
money if you look at this the last few years like I said 1995 to 2005 what’s
years like I said 1995 to 2005 what’s
years like I said 1995 to 2005 what’s happened is the dollar has gone this way
happened is the dollar has gone this way
happened is the dollar has gone this way and the way you know how much is lost is
and the way you know how much is lost is
and the way you know how much is lost is gold went from $250 up to $500 at the
gold went from $250 up to $500 at the
gold went from $250 up to $500 at the same time that means your dollar lost
same time that means your dollar lost
same time that means your dollar lost 50% it lost 50% of us buying power and
50% it lost 50% of us buying power and
50% it lost 50% of us buying power and the banks are paying you 1% interest
the banks are paying you 1% interest
the banks are paying you 1% interest tell me that smart to save money that’s
tell me that smart to save money that’s
tell me that smart to save money that’s why the debtor started to win because
why the debtor started to win because
why the debtor started to win because what was happening as this was going up
what was happening as this was going up
what was happening as this was going up and all this and the reason this happens
and all this and the reason this happens
and all this and the reason this happens is for one very big phone up this is not
is for one very big phone up this is not
is for one very big phone up this is not the only thing it’s not just gold
the only thing it’s not just gold
the only thing it’s not just gold because I can hear the economists going
because I can hear the economists going
because I can hear the economists going he doesn’t know what he’s talking about
he doesn’t know what he’s talking about
he doesn’t know what he’s talking about well I’m not saying I’m an economist I’m
well I’m not saying I’m an economist I’m
well I’m not saying I’m an economist I’m saying just look at the price of gold it
saying just look at the price of gold it
saying just look at the price of gold it takes twice as many dollars to buy the
takes twice as many dollars to buy the
takes twice as many dollars to buy the same amount day but not only that my
same amount day but not only that my
same amount day but not only that my father’s house which he purchased in I
father’s house which he purchased in I
father’s house which he purchased in I think nineteen nineteen sixty-five or
think nineteen nineteen sixty-five or
think nineteen nineteen sixty-five or something he paid fifty thousand dollars
something he paid fifty thousand dollars
something he paid fifty thousand dollars for it
for it
for it and today it’s worth 1.5 million it’s
and today it’s worth 1.5 million it’s
and today it’s worth 1.5 million it’s the same house so that means the
the same house so that means the
the same house so that means the purchasing power of the dollar went wear
purchasing power of the dollar went wear
purchasing power of the dollar went wear down the house didn’t go up in value
down the house didn’t go up in value
down the house didn’t go up in value your dollar went down and the other
your dollar went down and the other
your dollar went down and the other thing that comes to all that’s not
thing that comes to all that’s not
thing that comes to all that’s not really good indicator but look at this
really good indicator but look at this
really good indicator but look at this in 1995 oil was about 10 bucks today
in 1995 oil was about 10 bucks today
in 1995 oil was about 10 bucks today it’s 60 bucks
it’s 60 bucks
it’s 60 bucks so that means your dollar has you need
so that means your dollar has you need
so that means your dollar has you need six more dollars to purchase the same
six more dollars to purchase the same
six more dollars to purchase the same amount of oil and then the economists
amount of oil and then the economists
amount of oil and then the economists say well oil doesn’t affect inflation
say well oil doesn’t affect inflation
say well oil doesn’t affect inflation I’m going they want you to believe that
I’m going they want you to believe that
I’m going they want you to believe that investing is risky how many people have
investing is risky how many people have
investing is risky how many people have heard investing is risky
heard investing is risky
heard investing is risky good what this section is about of this
good what this section is about of this
good what this section is about of this program is how risky risk isn’t anything
program is how risky risk isn’t anything
program is how risky risk isn’t anything but lack of control the number one
but lack of control the number one
but lack of control the number one difference between an active investor
difference between an active investor
difference between an active investor and a passive investor is a subject of
and a passive investor is a subject of
and a passive investor is a subject of control so what I’m going to show you
control so what I’m going to show you
control so what I’m going to show you tonight is how what I do as an active
tonight is how what I do as an active
tonight is how what I do as an active investor is I want control if I have
investor is I want control if I have
investor is I want control if I have control I don’t have any what risk and
control I don’t have any what risk and
control I don’t have any what risk and that’s the difference so using a
that’s the difference so using a
that’s the difference so using a metaphor that most of us can understand
metaphor that most of us can understand
metaphor that most of us can understand over here we have you know a example of
over here we have you know a example of
over here we have you know a example of a car okay now how many people realizing
a car okay now how many people realizing
a car okay now how many people realizing there’s risk driving a car yeah but car
there’s risk driving a car yeah but car
there’s risk driving a car yeah but car driving doesn’t have to be risky like
driving doesn’t have to be risky like
driving doesn’t have to be risky like those guys want you to believe investing
those guys want you to believe investing
those guys want you to believe investing is risky so some of the controls the six
is risky so some of the controls the six
is risky so some of the controls the six controls a car must have number one is a
controls a car must have number one is a
controls a car must have number one is a steering wheel right how many people
steering wheel right how many people
steering wheel right how many people would not buy a car if it had no
would not buy a car if it had no
would not buy a car if it had no ceremony good you know I mean so I’m you
ceremony good you know I mean so I’m you
ceremony good you know I mean so I’m you sit down here like this so I sit down I
sit down here like this so I sit down I
sit down here like this so I sit down I get in my car and control number one I
get in my car and control number one I
get in my car and control number one I want to check on as I have a steering
want to check on as I have a steering
want to check on as I have a steering wheel control number two gas pedal now
wheel control number two gas pedal now
wheel control number two gas pedal now you have a gas pedal you better have
you have a gas pedal you better have
you have a gas pedal you better have some what brakes how many people have
some what brakes how many people have
some what brakes how many people have ever driven a car without brakes you
ever driven a car without brakes you
ever driven a car without brakes you know you don’t need coffee for about six
know you don’t need coffee for about six
know you don’t need coffee for about six weeks after that yeah
weeks after that yeah
weeks after that yeah and then you have a forward and reverse
and then you have a forward and reverse
and then you have a forward and reverse you know gear shift like this the other
you know gear shift like this the other
you know gear shift like this the other thing you also have to have is a
thing you also have to have is a
thing you also have to have is a driver’s license for driver’s ed and you
driver’s license for driver’s ed and you
driver’s license for driver’s ed and you have to have insurance
have to have insurance
have to have insurance so if I’m driving down the road you know
so if I’m driving down the road you know
so if I’m driving down the road you know doing a little bit too fast
doing a little bit too fast
doing a little bit too fast I hear the cop pulls me over a policeman
I hear the cop pulls me over a policeman
I hear the cop pulls me over a policeman pulls me over what’s the first thing a
pulls me over what’s the first thing a
pulls me over what’s the first thing a policeman asked me for driver’s license
policeman asked me for driver’s license
policeman asked me for driver’s license and proof of what insurance how many
and proof of what insurance how many
and proof of what insurance how many people would not let somebody who is
people would not let somebody who is
people would not let somebody who is uninsured drive your car how many people
uninsured drive your car how many people
uninsured drive your car how many people would not let somebody who had no
would not let somebody who had no
would not let somebody who had no driver’s head drive your car you know I
driver’s head drive your car you know I
driver’s head drive your car you know I mean that’s stupid
mean that’s stupid
mean that’s stupid but that’s what investors are doing
but that’s what investors are doing
but that’s what investors are doing they’re actually investing in savings
they’re actually investing in savings
they’re actually investing in savings stocks bonds mutual funds with no
stocks bonds mutual funds with no
stocks bonds mutual funds with no control and what happens that’s like
control and what happens that’s like
control and what happens that’s like weighing like this and that’s why they
weighing like this and that’s why they
weighing like this and that’s why they think it’s risky now this was the worst
think it’s risky now this was the worst
think it’s risky now this was the worst part guess who else has no control your
part guess who else has no control your
part guess who else has no control your financial advisor your financial advisor
diversify or what they do is this is
diversify or what they do is this is they go that’s the kind of financial
they go that’s the kind of financial
they go that’s the kind of financial advice most people I get it
that’s risky that’s not what I do I want
that’s risky that’s not what I do I want control so let me help get out of this
control so let me help get out of this
control so let me help get out of this wreck so when I’m as an investor I want
wreck so when I’m as an investor I want
wreck so when I’m as an investor I want six controls too if a car has six
six controls too if a car has six
six controls too if a car has six controls I want six controls as an
controls I want six controls as an
controls I want six controls as an investor control number one you look on
investor control number one you look on
investor control number one you look on the screen over here is I want control
the screen over here is I want control
the screen over here is I want control of my income control number two expenses
of my income control number two expenses
of my income control number two expenses three is asset value 4 is liability five
three is asset value 4 is liability five
three is asset value 4 is liability five is I want financial education or
is I want financial education or
is I want financial education or management and six that one insurance
management and six that one insurance
management and six that one insurance those are the six controls I want as an
those are the six controls I want as an
those are the six controls I want as an active investor so when we come back
active investor so when we come back
active investor so when we come back what I’m going to talk about is one of
what I’m going to talk about is one of
what I’m going to talk about is one of the ways to get rich is find that native
the ways to get rich is find that native
the ways to get rich is find that native genius that’s well inside each and every
genius that’s well inside each and every
genius that’s well inside each and every one of us and that’s what the next
one of us and that’s what the next
one of us and that’s what the next section about here’s Robert Kiyosaki
section about here’s Robert Kiyosaki
section about here’s Robert Kiyosaki with rich dad’s guide to well into a
with rich dad’s guide to well into a
with rich dad’s guide to well into a thing my Rich Dad talked about is called
thing my Rich Dad talked about is called
thing my Rich Dad talked about is called the game of money and the reason we say
the game of money and the reason we say
the game of money and the reason we say it as a game is very simply because of
it as a game is very simply because of
it as a game is very simply because of this and some of you may not be sports
this and some of you may not be sports
this and some of you may not be sports fans but I love sports in football a
fans but I love sports in football a
fans but I love sports in football a game is consistent of four quarters and
game is consistent of four quarters and
game is consistent of four quarters and so my Rich Dad said life is also your
so my Rich Dad said life is also your
so my Rich Dad said life is also your financial life is in four quarters also
financial life is in four quarters also
financial life is in four quarters also so if we can have it up here on the
so if we can have it up here on the
so if we can have it up here on the prompter on the plasma the game of money
prompter on the plasma the game of money
prompter on the plasma the game of money we have a thing called a pregame show
we have a thing called a pregame show
we have a thing called a pregame show okay and the next thing is that we go
okay and the next thing is that we go
okay and the next thing is that we go into the first quarter so age 25 is
into the first quarter so age 25 is
into the first quarter so age 25 is generally when most of us kind of get
generally when most of us kind of get
generally when most of us kind of get out of school and we sort of figure out
out of school and we sort of figure out
out of school and we sort of figure out what we’re going to do so age 25 to 35
what we’re going to do so age 25 to 35
what we’re going to do so age 25 to 35 is the first quarter the way we come up
is the first quarter the way we come up
is the first quarter the way we come up with this is the ten years is because
with this is the ten years is because
with this is the ten years is because our working life is generally 40 years
our working life is generally 40 years
our working life is generally 40 years long 25 to 65 right so the first quarter
long 25 to 65 right so the first quarter
long 25 to 65 right so the first quarter is 25 to 35 then what happens second
is 25 to 35 then what happens second
is 25 to 35 then what happens second quarter is 35 to 45 got it you know
quarter is 35 to 45 got it you know
quarter is 35 to 45 got it you know things like this by then if you should
things like this by then if you should
things like this by then if you should be married which one be married your
be married which one be married your
be married which one be married your career should be taking off and you have
career should be taking off and you have
career should be taking off and you have a house a little bit in
a house a little bit in
a house a little bit in and all this stuff and then we go into
and all this stuff and then we go into
and all this stuff and then we go into halftime you know and at that point
halftime you know and at that point
halftime you know and at that point sometimes in our lives is called midlife
sometimes in our lives is called midlife
sometimes in our lives is called midlife crisis you know we say oh my goodness
crisis you know we say oh my goodness
crisis you know we say oh my goodness I’m not getting ahead of knocking
I’m not getting ahead of knocking
I’m not getting ahead of knocking promoting that game it panic sets in and
promoting that game it panic sets in and
promoting that game it panic sets in and then we go into the third corner which
then we go into the third corner which
then we go into the third corner which is 45 to 55 okay and then age is 55 to
is 45 to 55 okay and then age is 55 to
is 45 to 55 okay and then age is 55 to 65 is the fourth quarter and if you
65 is the fourth quarter and if you
65 is the fourth quarter and if you haven’t acquired enough wealth like I
haven’t acquired enough wealth like I
haven’t acquired enough wealth like I talked about the sleeping well and being
talked about the sleeping well and being
talked about the sleeping well and being rich wealth is very simply measured in
rich wealth is very simply measured in
rich wealth is very simply measured in time so we have recurring income coming
time so we have recurring income coming
time so we have recurring income coming in for as long as you live here so if
in for as long as you live here so if
in for as long as you live here so if you don’t have enough recurring income
you don’t have enough recurring income
you don’t have enough recurring income from wealth you go into what’s called
from wealth you go into what’s called
from wealth you go into what’s called over time and over time this means that
over time and over time this means that
over time and over time this means that you may be on Social Security with my
you may be on Social Security with my
you may be on Social Security with my Japanese friend call said oh so Social
Japanese friend call said oh so Social
Japanese friend call said oh so Social Security you know because it’s so so is
Security you know because it’s so so is
Security you know because it’s so so is that if you haven’t quite got it yet you
that if you haven’t quite got it yet you
that if you haven’t quite got it yet you haven’t quite got it yeah over ties
haven’t quite got it yeah over ties
haven’t quite got it yeah over ties means would you like that super-sized
means would you like that super-sized
means would you like that super-sized would you like a giant size Coca Cola
would you like a giant size Coca Cola
would you like a giant size Coca Cola with it or stuff like this and then you
with it or stuff like this and then you
with it or stuff like this and then you go into what’s called out of time and I
go into what’s called out of time and I
go into what’s called out of time and I think this is why people are terrified
think this is why people are terrified
think this is why people are terrified right now is running out of money during
right now is running out of money during
right now is running out of money during retirement because when you’re out of
retirement because when you’re out of
retirement because when you’re out of time that often times your body gives up
time that often times your body gives up
time that often times your body gives up and all this and what a lot of time what
and all this and what a lot of time what
and all this and what a lot of time what people say is that you spend your health
people say is that you spend your health
people say is that you spend your health gaining wealth and then the last few
gaining wealth and then the last few
gaining wealth and then the last few years of your life you spend your wealth
years of your life you spend your wealth
years of your life you spend your wealth trying to hang on to your health and
trying to hang on to your health and
trying to hang on to your health and they say so many people their fortunes
they say so many people their fortunes
they say so many people their fortunes get wiped out in the last two years of
get wiped out in the last two years of
get wiped out in the last two years of their lives if they don’t have enough
their lives if they don’t have enough
their lives if they don’t have enough and as I said the biggest problem in
and as I said the biggest problem in
and as I said the biggest problem in America is not Social Security it’s
America is not Social Security it’s
America is not Social Security it’s Medicare 64 trillion dollars in debt
Medicare 64 trillion dollars in debt
Medicare 64 trillion dollars in debt right now so if you can so that’s why I
right now so if you can so that’s why I
right now so if you can so that’s why I said I thank all of you who were born
said I thank all of you who were born
said I thank all of you who were born you know after 1964 because you’re gonna
you know after 1964 because you’re gonna
you know after 1964 because you’re gonna be paying for all the old guys who are
be paying for all the old guys who are
be paying for all the old guys who are out of time especially right now pregame
out of time especially right now pregame
out of time especially right now pregame show you know Paris Hilton was born I
show you know Paris Hilton was born I
show you know Paris Hilton was born I think with three hundred million dollars
think with three hundred million dollars
think with three hundred million dollars net worth she won the game before she
net worth she won the game before she
net worth she won the game before she was born
was born
was born you know how many people wish you were
you know how many people wish you were
you know how many people wish you were you know born rich or all that kind of
you know born rich or all that kind of
you know born rich or all that kind of stuff
stuff
stuff I always did but but I wasn’t so
I always did but but I wasn’t so
I always did but but I wasn’t so there are certain people who were born
there are certain people who were born
there are certain people who were born with a silver spoon in the mouth and
with a silver spoon in the mouth and
with a silver spoon in the mouth and they were so fortunate I wasn’t my wife
they were so fortunate I wasn’t my wife
they were so fortunate I wasn’t my wife Kim won her game in the first quarter of
Kim won her game in the first quarter of
Kim won her game in the first quarter of her life she was about 35 years old when
her life she was about 35 years old when
her life she was about 35 years old when she retired she acquired enough well
she retired she acquired enough well
she retired she acquired enough well enough passive income that she never had
enough passive income that she never had
enough passive income that she never had to work again so her won she won the
to work again so her won she won the
to work again so her won she won the game first quarter and I was 47 so I
game first quarter and I was 47 so I
game first quarter and I was 47 so I wanted just in the second quarter of my
wanted just in the second quarter of my
wanted just in the second quarter of my life that meant I never had to work
life that meant I never had to work
life that meant I never had to work again not that I was rich but I was
again not that I was rich but I was
again not that I was rich but I was wealthy I had money coming in every
wealthy I had money coming in every
wealthy I had money coming in every month from my investments that I never
month from my investments that I never
month from my investments that I never had to work again so then I took two
had to work again so then I took two
had to work again so then I took two years off suffered my midlife crisis
years off suffered my midlife crisis
years off suffered my midlife crisis then came back and when I was 40 when I
then came back and when I was 40 when I
then came back and when I was 40 when I was 50 years old I wrote a book called
was 50 years old I wrote a book called
was 50 years old I wrote a book called Rich Dad Poor Dad and the thing took off
Rich Dad Poor Dad and the thing took off
Rich Dad Poor Dad and the thing took off and a whole new career opened up and now
and a whole new career opened up and now
and a whole new career opened up and now I’m in the fourth quarter of my life and
I’m in the fourth quarter of my life and
I’m in the fourth quarter of my life and thank God I don’t have to worry about
thank God I don’t have to worry about
thank God I don’t have to worry about going into overtime or out of time
going into overtime or out of time
going into overtime or out of time because acquiring wealth is just fun for
because acquiring wealth is just fun for
because acquiring wealth is just fun for me
me
me I love investing it’s not frightening
I love investing it’s not frightening
I love investing it’s not frightening it’s control I have all that that make
it’s control I have all that that make
it’s control I have all that that make sense you guys here is this fun so my
sense you guys here is this fun so my
sense you guys here is this fun so my question is to you right now is what
question is to you right now is what
question is to you right now is what quarter are you in how many people are
quarter are you in how many people are
quarter are you in how many people are in the first quarter okay how many
in the first quarter okay how many
in the first quarter okay how many people second quarter I’m a people third
people second quarter I’m a people third
people second quarter I’m a people third quarter fourth quarter nobody’s raising
quarter fourth quarter nobody’s raising
quarter fourth quarter nobody’s raising their hand on that one couple of you and
their hand on that one couple of you and
their hand on that one couple of you and I won’t ask about overtime and out of
I won’t ask about overtime and out of
I won’t ask about overtime and out of time but the question is this sometime
time but the question is this sometime
time but the question is this sometime like it or not every single one of us
like it or not every single one of us
like it or not every single one of us needs to win the game regardless of who
needs to win the game regardless of who
needs to win the game regardless of who you are we need to win the game if we
you are we need to win the game if we
you are we need to win the game if we don’t we go into this part over here so
don’t we go into this part over here so
don’t we go into this part over here so with that I want to bring up my
with that I want to bring up my
with that I want to bring up my sweetheart my darling
sweetheart my darling
sweetheart my darling my best friend it’s almost 20 years of
my best friend it’s almost 20 years of
my best friend it’s almost 20 years of marriage right now a mess my sweetheart
marriage right now a mess my sweetheart
marriage right now a mess my sweetheart Kim
Kim
Kim [Applause]
[Applause]
[Applause] it has her own corporations I have my
it has her own corporations I have my
it has her own corporations I have my own corporations if we ever split she is
own corporations if we ever split she is
own corporations if we ever split she is completely independent she has control
completely independent she has control
completely independent she has control of her own life that makes sense you
of her own life that makes sense you
of her own life that makes sense you guys are that’s why we talk together he
guys are that’s why we talk together he
guys are that’s why we talk together he had no money in matter of fact we
had no money in matter of fact we
had no money in matter of fact we celebrated when we hit zero that’s how
celebrated when we hit zero that’s how
celebrated when we hit zero that’s how far down we were Roberts been talking
far down we were Roberts been talking
far down we were Roberts been talking about control and I love to encourage
about control and I love to encourage
about control and I love to encourage women into this world of investing
women into this world of investing
women into this world of investing because I think so many women today feel
because I think so many women today feel
because I think so many women today feel out of control when it comes to money
out of control when it comes to money
out of control when it comes to money when it comes to their financial freedom
when it comes to their financial freedom
when it comes to their financial freedom in their financial lives and so my
in their financial lives and so my
in their financial lives and so my passion is to educate and encourage
passion is to educate and encourage
passion is to educate and encourage women in the world of investing and the
women in the world of investing and the
women in the world of investing and the reason why I’m so driven kind of comes
reason why I’m so driven kind of comes
reason why I’m so driven kind of comes from comes from an incident that
from comes from an incident that
from comes from an incident that happened many many years ago and what it
happened many many years ago and what it
happened many many years ago and what it was is I was 14 years old and I remember
was is I was 14 years old and I remember
was is I was 14 years old and I remember coming home from school one day and I
coming home from school one day and I
coming home from school one day and I walked in and there was my mom and her
walked in and there was my mom and her
walked in and there was my mom and her best friend in our dining room and I
best friend in our dining room and I
best friend in our dining room and I walked in and mom kind of signaled me –
walked in and mom kind of signaled me –
walked in and mom kind of signaled me – no leave him alone leave him alone and
no leave him alone leave him alone and
no leave him alone leave him alone and so I walked away into the kitchen and I
so I walked away into the kitchen and I
so I walked away into the kitchen and I listened to the conversation and my
listened to the conversation and my
listened to the conversation and my mom’s friend was very distraught she was
mom’s friend was very distraught she was
mom’s friend was very distraught she was crying she was upset and it turned out
crying she was upset and it turned out
crying she was upset and it turned out that her husband was leaving her for a
that her husband was leaving her for a
that her husband was leaving her for a younger woman and she went on and on
younger woman and she went on and on
younger woman and she went on and on they’d been married for 20-some years
they’d been married for 20-some years
they’d been married for 20-some years and kept listening and then she said
and kept listening and then she said
and kept listening and then she said something that just really hit home to
something that just really hit home to
something that just really hit home to me and she said you know my marriage
me and she said you know my marriage
me and she said you know my marriage hasn’t been good for many many years but
hasn’t been good for many many years but
hasn’t been good for many many years but at least I was financially taken care of
at least I was financially taken care of
at least I was financially taken care of and my mom said well that’s why you
and my mom said well that’s why you
and my mom said well that’s why you stayed she said I stood because I stayed
stayed she said I stood because I stayed
stayed she said I stood because I stayed because I didn’t know how to take care
because I didn’t know how to take care
because I didn’t know how to take care of myself financially so at 14 years old
of myself financially so at 14 years old
of myself financially so at 14 years old I decided I was never going to be
I decided I was never going to be
I decided I was never going to be dependent on someone else for my
dependent on someone else for my
dependent on someone else for my financial well-being and that was a
financial well-being and that was a
financial well-being and that was a decision and that’s why I’m so driven
decision and that’s why I’m so driven
decision and that’s why I’m so driven now to encourage women into this game as
now to encourage women into this game as
now to encourage women into this game as well and so when Robert talks about
well and so when Robert talks about
well and so when Robert talks about control I really believe that it’s time
control I really believe that it’s time
control I really believe that it’s time that women today take control of their
that women today take control of their
that women today take control of their financial lives I think it’s crucial I
financial lives I think it’s crucial I
financial lives I think it’s crucial I don’t think it’s a luxury or a good idea
don’t think it’s a luxury or a good idea
don’t think it’s a luxury or a good idea anymore I think it’s something that has
anymore I think it’s something that has
anymore I think it’s something that has to happen
to happen
to happen and you know the times have changed and
and you know the times have changed and
and you know the times have changed and what worked for our mothers and our
what worked for our mothers and our
what worked for our mothers and our grandmothers is not necessarily going to
grandmothers is not necessarily going to
grandmothers is not necessarily going to work for us and our daughters and our
work for us and our daughters and our
work for us and our daughters and our granddaughters and I came across some
granddaughters and I came across some
granddaughters and I came across some startling statistics recently that show
startling statistics recently that show
startling statistics recently that show how much times have changed for example
how much times have changed for example
how much times have changed for example in the u.s. forty seven percent of women
in the u.s. forty seven percent of women
in the u.s. forty seven percent of women over the age of 50 are single meaning
over the age of 50 are single meaning
over the age of 50 are single meaning they are responsible for their financial
they are responsible for their financial
they are responsible for their financial well-being and many of us have heard the
well-being and many of us have heard the
well-being and many of us have heard the divorce rate one out of two marriages
divorce rate one out of two marriages
divorce rate one out of two marriages ends in divorce so if she was depending
ends in divorce so if she was depending
ends in divorce so if she was depending on Prince Charming to take care of her
on Prince Charming to take care of her
on Prince Charming to take care of her well and who usually ends up with the
well and who usually ends up with the
well and who usually ends up with the children the woman so the woman is now
children the woman so the woman is now
children the woman so the woman is now responsible for herself and for her
responsible for herself and for her
responsible for herself and for her children and the first year after a
children and the first year after a
children and the first year after a divorce on average a woman standard the
divorce on average a woman standard the
divorce on average a woman standard the living dropped 73 percent and for any of
living dropped 73 percent and for any of
living dropped 73 percent and for any of you that are concerned about your
you that are concerned about your
you that are concerned about your mother’s or your grandmother’s of the
mother’s or your grandmother’s of the
mother’s or your grandmother’s of the elderly living in poverty three out of
elderly living in poverty three out of
elderly living in poverty three out of four are women but the amazing thing is
four are women but the amazing thing is
four are women but the amazing thing is 80 percent of those women were not poor
80 percent of those women were not poor
80 percent of those women were not poor when their husbands were alive so what
when their husbands were alive so what
when their husbands were alive so what the statistics are telling me is that as
the statistics are telling me is that as
the statistics are telling me is that as women especially as we get older we have
women especially as we get older we have
women especially as we get older we have not been prepared we have not been
not been prepared we have not been
not been prepared we have not been educated to take care of ourselves
educated to take care of ourselves
educated to take care of ourselves financially and now is the time to do
financially and now is the time to do
financially and now is the time to do that and it doesn’t take a lot it’s it’s
that and it doesn’t take a lot it’s it’s
that and it doesn’t take a lot it’s it’s really just through education and that’s
really just through education and that’s
really just through education and that’s why I’m so happy to be part of this
why I’m so happy to be part of this
why I’m so happy to be part of this program on PBS because they’re all about
program on PBS because they’re all about
program on PBS because they’re all about education and to get started in this
education and to get started in this
education and to get started in this world of investing it takes education
world of investing it takes education
world of investing it takes education start small you know make mistakes
start small you know make mistakes
start small you know make mistakes you’re gonna make mistakes put a little
you’re gonna make mistakes put a little
you’re gonna make mistakes put a little money down you’ll be amazed at how smart
money down you’ll be amazed at how smart
money down you’ll be amazed at how smart you get when you put a little money down
you get when you put a little money down
you get when you put a little money down on an investment your education goes
on an investment your education goes
on an investment your education goes through the roof so again it’s just
through the roof so again it’s just
through the roof so again it’s just about education and just to let you know
about education and just to let you know
about education and just to let you know it’s not rocket science you know I don’t
it’s not rocket science you know I don’t
it’s not rocket science you know I don’t have a special degree it doesn’t take
have a special degree it doesn’t take
have a special degree it doesn’t take any special type of formal training when
any special type of formal training when
any special type of formal training when I started in investing it was in 1989
I started in investing it was in 1989
I started in investing it was in 1989 and Robert came to me said it’s time you
and Robert came to me said it’s time you
and Robert came to me said it’s time you start investing and I’m like I don’t
start investing and I’m like I don’t
start investing and I’m like I don’t even know what the word means and so he
even know what the word means and so he
even know what the word means and so he started to teach me what his rich dad
started to teach me what his rich dad
started to teach me what his rich dad taught him about investing and I went
taught him about investing and I went
taught him about investing and I went out and I’m stumbling along trying to
out and I’m stumbling along trying to
out and I’m stumbling along trying to figure it out and finally I came across
figure it out and finally I came across
figure it out and finally I came across this little two-bedroom
this little two-bedroom
this little two-bedroom one bathhouse in a place called Portland
one bathhouse in a place called Portland
one bathhouse in a place called Portland Oregon and I signed the papers and I got
Oregon and I signed the papers and I got
Oregon and I signed the papers and I got the deal and and I’m doing all my due
the deal and and I’m doing all my due
the deal and and I’m doing all my due diligence now and I’m checking it out to
diligence now and I’m checking it out to
diligence now and I’m checking it out to see if I’m gonna do it or not and I’ll
see if I’m gonna do it or not and I’ll
see if I’m gonna do it or not and I’ll tell you I was scared to death what if
tell you I was scared to death what if
tell you I was scared to death what if the pennant was out what if the plumbing
the pennant was out what if the plumbing
the pennant was out what if the plumbing breaks what if I what if I lose money
breaks what if I what if I lose money
breaks what if I what if I lose money what if what if what if what if I was
what if what if what if what if I was
what if what if what if what if I was scared to death and what happened is
scared to death and what happened is
scared to death and what happened is when it came time to close the papers to
when it came time to close the papers to
when it came time to close the papers to sign the papers my hand was shaking so
sign the papers my hand was shaking so
sign the papers my hand was shaking so bad like they couldn’t even make out my
bad like they couldn’t even make out my
bad like they couldn’t even make out my signature but the other thing that
signature but the other thing that
signature but the other thing that happened is my fist was so tightly
happened is my fist was so tightly
happened is my fist was so tightly clenched around my five thousand dollar
clenched around my five thousand dollar
clenched around my five thousand dollar check that I had to part with that they
check that I had to part with that they
check that I had to part with that they never they thought they’d never get it
never they thought they’d never get it
never they thought they’d never get it but I did that deal and I went on to do
but I did that deal and I went on to do
but I did that deal and I went on to do the next deal in next deal I kept
the next deal in next deal I kept
the next deal in next deal I kept learning and I kept learning as I went
learning and I kept learning as I went
learning and I kept learning as I went and when it when it came down to is
and when it when it came down to is
and when it when it came down to is today
today
today I control millions of dollars worth of
I control millions of dollars worth of
I control millions of dollars worth of real estate and worth of property but it
real estate and worth of property but it
real estate and worth of property but it all came down to it started with a
all came down to it started with a
all came down to it started with a little education and it started with
little education and it started with
little education and it started with that first step so I just want to say
that first step so I just want to say
that first step so I just want to say again I so encourage women in this game
again I so encourage women in this game
again I so encourage women in this game of investing it’s not difficult it takes
of investing it’s not difficult it takes
of investing it’s not difficult it takes some time it takes some effort it takes
some time it takes some effort it takes
some time it takes some effort it takes some education but the freedom for me
some education but the freedom for me
some education but the freedom for me when I understood this game my
when I understood this game my
when I understood this game my self-worth went up my confidence went up
self-worth went up my confidence went up
self-worth went up my confidence went up I knew for the first time that I could
I knew for the first time that I could
I knew for the first time that I could take care of myself I didn’t have to
take care of myself I didn’t have to
take care of myself I didn’t have to depend on Robert I didn’t need Robert I
depend on Robert I didn’t need Robert I
depend on Robert I didn’t need Robert I wanted Robert but I didn’t need him and
wanted Robert but I didn’t need him and
wanted Robert but I didn’t need him and that made a huge difference so one final
that made a huge difference so one final
that made a huge difference so one final statistic
only 20% studies show that only 20% of
only 20% studies show that only 20% of baby boomer women will be financially
baby boomer women will be financially
baby boomer women will be financially secure in retirement that means 80% of
secure in retirement that means 80% of
secure in retirement that means 80% of us will not so again I thank you for
us will not so again I thank you for
us will not so again I thank you for being at this PBS show because by being
being at this PBS show because by being
being at this PBS show because by being here you’re getting yourself educated
here you’re getting yourself educated
here you’re getting yourself educated and all it takes is education and some
and all it takes is education and some
and all it takes is education and some action and you can be part of easily be
action and you can be part of easily be
action and you can be part of easily be part of that 20% who’s secure and in
part of that 20% who’s secure and in
part of that 20% who’s secure and in control thank you
well last thing I want to talk about
well last thing I want to talk about here is this is that I realized as I
here is this is that I realized as I
here is this is that I realized as I studied education it came across I
studied education it came across I
studied education it came across I started studying education a later time
started studying education a later time
started studying education a later time I was about 38 years old and I realized
I was about 38 years old and I realized
I was about 38 years old and I realized that each and every one of us was a
that each and every one of us was a
that each and every one of us was a genius except in school there are
genius except in school there are
genius except in school there are certain people I kind of classmate who
certain people I kind of classmate who
certain people I kind of classmate who was considered a genius in school this
was considered a genius in school this
was considered a genius in school this guy could do quantum physics and all
guy could do quantum physics and all
guy could do quantum physics and all that when he was in kindergarten the
that when he was in kindergarten the
that when he was in kindergarten the trouble is he couldn’t tie his shoelaces
trouble is he couldn’t tie his shoelaces
trouble is he couldn’t tie his shoelaces how many people knew people like that
how many people knew people like that
how many people knew people like that you know there absolutely are geniuses
you know there absolutely are geniuses
you know there absolutely are geniuses in school but in the real world they’re
in school but in the real world they’re
in school but in the real world they’re incompetent this guy didn’t know his
incompetent this guy didn’t know his
incompetent this guy didn’t know his left hand from his right hand used to
left hand from his right hand used to
left hand from his right hand used to play baseball and I said how can be a
play baseball and I said how can be a
play baseball and I said how can be a genius he doesn’t know he could never
genius he doesn’t know he could never
genius he doesn’t know he could never figure out with the glove when in his
figure out with the glove when in his
figure out with the glove when in his left hand on his right hand but he was a
left hand on his right hand but he was a
left hand on his right hand but he was a genius
genius
genius you know I said how give me a genius he
you know I said how give me a genius he
you know I said how give me a genius he can’t pitch can’t bet anything like this
can’t pitch can’t bet anything like this
can’t pitch can’t bet anything like this so I started to realize that genius that
so I started to realize that genius that
so I started to realize that genius that every one of us had it and what genius
every one of us had it and what genius
every one of us had it and what genius stands for is this here
the chief the magic and so when I say
the chief the magic and so when I say that this is this you know God created
that this is this you know God created
that this is this you know God created every animal on earth every species to
every animal on earth every species to
every animal on earth every species to have a special advantage for instance
have a special advantage for instance
have a special advantage for instance birds can fly
birds can fly
birds can fly cheetahs run fast and cockroaches we
cheetahs run fast and cockroaches we
cheetahs run fast and cockroaches we can’t kill them
can’t kill them
can’t kill them so if animals have special advantages so
so if animals have special advantages so
so if animals have special advantages so does each and every one of us for
does each and every one of us for
does each and every one of us for example Tiger Woods is a genius in the
example Tiger Woods is a genius in the
example Tiger Woods is a genius in the environment called the golf course Tiger
environment called the golf course Tiger
environment called the golf course Tiger Woods would not be a genius as a jockey
Woods would not be a genius as a jockey
Woods would not be a genius as a jockey he’s just too big I would definitely not
he’s just too big I would definitely not
he’s just too big I would definitely not be a jockey you don’t I mean like this
be a jockey you don’t I mean like this
be a jockey you don’t I mean like this and you look at Mick Jagger he went to
and you look at Mick Jagger he went to
and you look at Mick Jagger he went to school to be an accountant but he came a
school to be an accountant but he came a
school to be an accountant but he came a billionaire as a rolling stone thing I
billionaire as a rolling stone thing I
billionaire as a rolling stone thing I won’t leave you with tonight ladies and
won’t leave you with tonight ladies and
won’t leave you with tonight ladies and gentlemen is have the courage to find
gentlemen is have the courage to find
gentlemen is have the courage to find that environment like Tiger Woods on the
that environment like Tiger Woods on the
that environment like Tiger Woods on the golf course Mick Jagger as a Rolling
golf course Mick Jagger as a Rolling
golf course Mick Jagger as a Rolling Stone Oprah in front of television find
Stone Oprah in front of television find
Stone Oprah in front of television find that spot where your genius comes out
that spot where your genius comes out
that spot where your genius comes out that’s what intelligence is my genius
that’s what intelligence is my genius
that’s what intelligence is my genius was crushed in school I was labeled
was crushed in school I was labeled
was crushed in school I was labeled stupid and dyslexic and no attention and
stupid and dyslexic and no attention and
stupid and dyslexic and no attention and jumping around all the time
jumping around all the time
jumping around all the time also my genius did not come out in the
also my genius did not come out in the
also my genius did not come out in the corporate world I do not like being told
corporate world I do not like being told
corporate world I do not like being told what to do and kissing you know what to
what to do and kissing you know what to
what to do and kissing you know what to get the corporate ladder I do not do
get the corporate ladder I do not do
get the corporate ladder I do not do that stuff well I do well on the streets
that stuff well I do well on the streets
that stuff well I do well on the streets does that make sense you guys here
does that make sense you guys here
does that make sense you guys here that’s where my genius came out and the
that’s where my genius came out and the
that’s where my genius came out and the other thing is that I never I flunked
other thing is that I never I flunked
other thing is that I never I flunked out of school twice because I could not
out of school twice because I could not
out of school twice because I could not write and I do not read that well yet
write and I do not read that well yet
write and I do not read that well yet but only you know no it’s true
but only you know no it’s true
but only you know no it’s true I flunked when I was fifteen and a
I flunked when I was fifteen and a
I flunked when I was fifteen and a flaunt I was seventeen and today I have
flaunt I was seventeen and today I have
flaunt I was seventeen and today I have one of the top three books in the
one of the top three books in the
one of the top three books in the history of the New York Times I’ve been
history of the New York Times I’ve been
history of the New York Times I’ve been a New York Times best seller list for
a New York Times best seller list for
a New York Times best seller list for over five years now only two books that
over five years now only two books that
over five years now only two books that beat me one of them’s a joy of sex that
beat me one of them’s a joy of sex that
beat me one of them’s a joy of sex that might take a while to beat
so when I flunked out of school you know
so when I flunked out of school you know and now I have a New York Times best
and now I have a New York Times best
and now I have a New York Times best seller for five years and I’m still
seller for five years and I’m still
seller for five years and I’m still allows you to writer people say you
allows you to writer people say you
allows you to writer people say you can’t write something my English teacher
can’t write something my English teacher
can’t write something my English teacher you know I did graduate out of a
you know I did graduate out of a
you know I did graduate out of a Bachelor of Science degree and all that
Bachelor of Science degree and all that
Bachelor of Science degree and all that I went to a very prestigious school here
I went to a very prestigious school here
I went to a very prestigious school here in New York but the point here is this
in New York but the point here is this
in New York but the point here is this that’s not you have to find where your
that’s not you have to find where your
that’s not you have to find where your genius comes out that make sense you
genius comes out that make sense you
genius comes out that make sense you guys here and after I flunked out of
guys here and after I flunked out of
guys here and after I flunked out of school and this book became I was
school and this book became I was
school and this book became I was scarred for a longest time I really
scarred for a longest time I really
scarred for a longest time I really thought I was stupid it pained me here’s
thought I was stupid it pained me here’s
thought I was stupid it pained me here’s my father the superinten of education
my father the superinten of education
my father the superinten of education and his son Zamora
and his son Zamora
and his son Zamora so what I’m thinking about if those
so what I’m thinking about if those
so what I’m thinking about if those school teachers are still alive I’m
school teachers are still alive I’m
school teachers are still alive I’m gonna look them up on you know one eight
gonna look them up on you know one eight
gonna look them up on you know one eight hundred mill them a copy of my book page
hundred mill them a copy of my book page
hundred mill them a copy of my book page by page in Jose here it is but the point
by page in Jose here it is but the point
by page in Jose here it is but the point here is this I didn’t find what I was
here is this I didn’t find what I was
here is this I didn’t find what I was good at until I had the courage to find
good at until I had the courage to find
good at until I had the courage to find the environment when my genius came out
the environment when my genius came out
the environment when my genius came out that make sense you guys here and I
that make sense you guys here and I
that make sense you guys here and I asked you to do that intelligence is
asked you to do that intelligence is
asked you to do that intelligence is don’t do as you’re told
don’t do as you’re told
don’t do as you’re told go where you know your genius can come
go where you know your genius can come
go where you know your genius can come out it’s not easy
out it’s not easy
out it’s not easy Tiger Woods practices like a wild man to
Tiger Woods practices like a wild man to
Tiger Woods practices like a wild man to kid this genius come out I practice like
kid this genius come out I practice like
kid this genius come out I practice like I write like crazy I’m not a good writer
I write like crazy I’m not a good writer
I write like crazy I’m not a good writer that makes sense you guys hear it’s not
that makes sense you guys hear it’s not
that makes sense you guys hear it’s not easy if you think it’s easy this is not
easy if you think it’s easy this is not
easy if you think it’s easy this is not it but you and every one of you at home
it but you and every one of you at home
it but you and every one of you at home you need to find or I recommend finding
you need to find or I recommend finding
you need to find or I recommend finding where your genius lies what environment
where your genius lies what environment
where your genius lies what environment do you come the best time you see the
do you come the best time you see the
do you come the best time you see the look at this picture over here of this
look at this picture over here of this
look at this picture over here of this young boy I think this is really it you
young boy I think this is really it you
young boy I think this is really it you know that’s really what it is
know that’s really what it is
know that’s really what it is every child is formed with her genius I
every child is formed with her genius I
every child is formed with her genius I didn’t did not know when I was nine
didn’t did not know when I was nine
didn’t did not know when I was nine years old playing Monopoly that I was
years old playing Monopoly that I was
years old playing Monopoly that I was that was I was seeing the future when I
that was I was seeing the future when I
that was I was seeing the future when I played Monopoly I saw that I could
played Monopoly I saw that I could
played Monopoly I saw that I could become a rich man where’s my poor deck
become a rich man where’s my poor deck
become a rich man where’s my poor deck of saying go back to school so I like to
of saying go back to school so I like to
of saying go back to school so I like to leave you with this have the courage to
leave you with this have the courage to
leave you with this have the courage to find an environment
find an environment
find an environment the magic lamp is your environment Tiger
the magic lamp is your environment Tiger
the magic lamp is your environment Tiger Woods golf course Mick Jagger Rolling
Woods golf course Mick Jagger Rolling
Woods golf course Mick Jagger Rolling Stone Oprah televisions have the courage
Stone Oprah televisions have the courage
Stone Oprah televisions have the courage to find that environment where you rub
to find that environment where you rub
to find that environment where you rub the magic
the magic
the magic and your genius comes out the most
and your genius comes out the most
and your genius comes out the most important thing is do what you know God
important thing is do what you know God
important thing is do what you know God gave you the best genius
”
Be First to Comment