[Music]
do the rich people cringe and say don't
tell them that
yes yes yes don't tell people what they
what you know keep them poor
[Music]
my father was the head of education phd
all that stuff
i go home and ask him i said why don't
we learn about money in school
[Music]
and he looked at me he says because the
government doesn't let us teach that
subject
the government tells us what we can
teach and what we can't teach
and i thought that was strange and i
said but
aren't we going to school to learn about
money he says no
your job is to get a job i said but you
get a job to
earn money he goes no you're supposed to
just get a job
i'm like no no no no no isn't the
purpose of a job to earn money he goes
you're correct i said so why don't i
just learn about money
i can skip the job part you know and he
got flustered and he said
if you want to learn about money why
don't you ask your best friend's father
about money
and i said why that's mike so i asked
him
he says because mike's father is an
entrepreneur and i said what am
what are you he says i'm an employee i'm
a government employee
i went oh what's the difference
this is the difference is an
entrepreneur must know about money
or that they're no longer entrepreneurs
and it says an employee doesn't have to
know anything about money
because the government will take care of
the company will take care of them
so i'm kid i'm all confused but i took
my dad's advice and i
trundle over to mike's father's office
and knocked on his door and i said hey
i'm here nine years old
teach me about money he says beat it kid
you know
but that's what this toy of rich ted
poor dad started
and finally through persistence my rich
dad started teaching me about money on
one condition
and that condition was he would never
pay me
he says the moment i pay you you think
like an employee
he says that's the trap entrepreneurs
work for free
and now i'm nine years old my head's
going cracking in half
he says you never want a paycheck you
understand that kid
he said okay i got it and he said well
how do i make money he says
that's what entrepreneurs figure out
it's like
so how do i learn about money so he
would just break out a monopoly
game board so i would work for free and
pick up cigarette butts and
get hotels and restaurants and i would
clean and do menial tasks
and as i got older i started getting
into office work and marketing and
accounting and
i was an apprentice basically but i
always work for free
and he would teach me about money but
the way he taught me about money was
playing monopoly
and that's finally one day i got upset i
said well when are you going to teach me
about money he says
what do you think we're doing
[Music]
we're playing monopoly he goes no no no
no what do you think we're doing
we're playing monopolies what do you
think we're doing
cause i don't know i'm teaching about
money
and then that's when you have one
greenhouse you know he says
there's many formulas for great success
and money there's thousands of them
but one of the best ones founded on the
game of monopoly still is today
four greenhouses one red hotel
said what he says one of the greatest
ways to
acquire great wealth is playing monopoly
in real life four greenhouses one red
hotel
but is that all there is he goes that's
it
and he says what do you think i'm doing
and i went i don't know
so then he took me out he showed me his
greenhouses
and 10 years later when i was 19 i was
now in school in new york
and i come back to hawaii and rich dad
had bought
the biggest piece of land smack dab in
the middle of waikiki beach
and when you go to waikiki beach today
you'll see the hyatt regency hotel
that was his hotel just like the game of
monopoly just like the game of monopoly
acquired assets and they became bigger
assets he just kept
what's called an assemblage because that
property wasn't that big at the time so
you had to buy out all the small
guys because waikiki was a little dirt
about a little town
so he'd buy out this shop owner and buy
that shop owner
and it took him a while but he finally
assembled this large piece of property
and then he then he and hyatt
put up this giant hotel you know i just
and it just sold for 800 million dollars
so that's how i learned about money
[Music]
i've had financial crashes i've had
people stab me in the back
but they're all good because i grow from
it that's spirituality
you know people who are afraid of making
mistakes like they teach in school
they don't ever grow because
spirituality is there's good
and there's bad there's right and
there's wrong there's up and there's
down
most people don't want to be right they
only want to be positive
well you can't have that that's not
reality
well i wasn't poor by most people's
standards
but i came from a family with a poor
attitude if you know what i mean
because rich poor middle-class poverty
starts with
a fundamental attitude poverty is passed
on
it's taught in your families and middle
classes taught in families
and so the people right now who are
sitting at home
who are struggling financially or
worried about money or
unhappy they may be making a lot of
money but unhappy with what they're
doing
it was probably taught to you you know
your super ego was taught
get a job work hard or or you'll never
be rich or the rich or evil or
whatever the school system will never
teach you about money
the school system was designed to teach
you to be an employee
which is important or a doctor or a
lawyer
a specialist but never about money
and what most people lack is real
business knowledge
like accounting you know like debt like
taxes you gotta know that stuff but they
don't teach it in school to anybody
so and then when people ask me how did
your rich dad learn this
when your poor dad a page they didn't
and the answer is very simply my rich
dad was my best friend's father
his father died when he was 13. so
his so rich dad had this family business
at 13
to run so he had to drop out of school
which was his blessing you know those
blessings and
you know sometimes the blessing doesn't
look like a blessing but it turned out
to be a blessing
and then his teachers became his
bookkeeper his accountant his attorney
his
bankers his real estate agents so he has
what i call
real teachers not these fake teachers in
school
you see most teachers in school they're
out of ethics
they teach subjects they don't they
themselves don't practice
i asked the teacher i said you know i'm
in my third year of calculus now
it was called it was called strength of
materials
i said am i ever going to use this stuff
he goes
no you know he said
why do you teach it as i get paid
so do you ever use it he goes no
[Music]
and that's why you know i you have to in
life
one of the things i suggest to people
you got to find a real teacher versus a
fake teacher
and a fake teacher somebody doesn't do
what they teach
and a real teacher is doing what they
teach every day so my accountants
my attorneys they're in it every single
day that's how i learn because every day
i'm solving problems in my business
so i have i have accountants and
attorneys and bankers and all these
people on speed dial
because i'm i'm solving problems with my
team
i see you giving this knowledge out and
yeah do the rich people cringe and say
don't tell them that
yes yes yes don't tell people but they
what you know keep them poor
but you know unfortunately the poor as
was in the bible i'm not really
religious
the poor will always be amongst us
because it starts up here
right it's that fear mentality it's it's
in their words you know and the words
become flesh
i'm not really religious i flunked out a
sunday school also
but when they say i can't afford it or i
can't do that
they go down they become what they say
my phd daddy says what do you think i am
made of money
i can't afford that and my rich dad
would say
that's why he's poor poor people say i
can't afford it i can't do that i don't
have time
because this is escape it's an escape
you know i mean it's easy to say i can't
afford and your rich dad used to say
what
instead of i can't afford it how can i
afford it
how can i do that you know what would it
take or why should i do that
he says a question opens a mind a
statement closes the mind see when you
say i can't afford it
your mind shuts down and you become what
you say
rugby is a team sport but so is soccer
the roles are different
and other people are golfers they play
by themselves
and so everybody's different so my game
financially
is business number one second is real
estate
so what i say to young people is you
find your game
[Music]
you