A question I ask all over the world, what does school teach you about money?
And the answer is nothing, and that's not a mistake, it's not an accident.
I knew that, most people know that. But the way to keep the
poor middle class working hard is never teach them what the rich know.
So if you read, “Rich Dad Poor”, which came out in 1997,
is what the rich teach their kids about money, the poor middle class do not.
So the question I ask myself, what does God want done in the evolution of life?
And what I came to miss, I don't think God wants people to be poor.
And today in the world, America especially, there’s this gap between the
rich and everybody else. And I know the game of the rich,
my rich dad taught me, you know it, because you're the banker.
The game the bankers and the rich play is different than what they teach you in school.
And that's a story of, “Rich Dad, Poor Dad”. My poor dad, Ph.D. stands for poor,
helpless and desperate. They don't know anything about money,
and they are teaching our kids. And my rich dad was an entrepreneur
who never finished school, grew up in Hawaii.
So all of the pieces of the puzzle and when Fuller scolding me back in 83’,
the pieces of the puzzle and my life started to come together.
And I understood what he was saying then, he says, “well, maybe,
we should stop ripping people off, it might be a good thing”.
And a question I ask all over the world, what does school teach you about money?
And the answer is nothing, and that's not a mistake,
it's not an accident. I knew that, most people know that.
But the way to keep the poor middle class working hard
is never teach them what the rich know. So if you read, “Rich Dad Poor”,
which came out in 1997, is what the rich teach their kids about money,
the poor middle class do not. Because poverty hurts, I mean, I don't like it.
And I don't like that our academic system is so corrupt,
we know the banking system is corrupt, we know politics is corrupt,
but academic is just as corrupt. Well, when I talk to most people, you know, I say,
look, first of all, let's go back to what is financial education.
It’s not, get a job, work hard, save money and invest in a well diversified portfolio,
socks, bonds, mutual funds and ETFs. That's not it, you know, money is
the financial industry is two things, debt and taxes.
And we still tell kids to go to school, get a job, work hard, save money and get out of debt.
Who tells them to do that? That's the most ridiculous thing there is.
The book starts and it says, “lie number one, saving money will make you rich”.
It never will, you know that. We are all taught that as kids.
Because they can print it. Why would you save it and why would
you work for it if they can print it? At faster than you can work for it.
And number two, if they keep dropping the interest rates on it.
You know, Japan still has zero interest rate policy
and the Japanese are the biggest savers in the world.
And I'm Japanese, I'm fourth generation, they're not too bright.
Why do you keep saving when they're printing it? Well the reason
the rich don't work for money is, number one, expenses tax.
See there is three kinds of income, earned, portfolio, passive.
So earned income is, if I get a job that's earned income.
If I'm a doctor or a programmer, that's earned income because I'm working for it.
If I buy apples for ten dollars, and I sell them for 20,
that's portfolio income, capital gains. But passive income, which is cash flow,
is never taxed.
So all of these guys are screaming right now in America,
“tax the rich”. I said, “good luck”.
Because most of the guys complaining they don't know those three kinds of income
and the rich don't have jobs anyway, they have assets.
And so the average schmo out there, a poor guy,
you know, sent the kid to school, they don't learn this.
So that's why, in “Fake”, as you were talking about it,
that newspaper article about Jared Kushner and he explains how the Trumps and
the Kushner's don't pay taxes and make millions of dollars,
and the reporter couldn't understand him because our schools will never teach you
that three types of income. I mean, to me, what's risky
is having a job and paying taxes, and saving money because they're printing it.
You know, that's the worst thing of all, and that's why there's fake money,
fake teachers, because the teachers will never, they don't know it,
And fake assets because Wall Street or the city of London
or Lehman Brothers or Goldman, they're not going to tell you this.
So that's what's going on in the world today, it's fake money, fake teachers, fake assets.
The school teachers will never tell you that because they don't know it,
my poor dad never knew that, and he thinks they think the rich are crooks.
The rich just play by different laws, the rules are the same,
but you have to do what the government wants you to do.