Latest / The Hannah Hammond Show / How He's $1.2 BILLION in Debt and Getting Richer - Robert Kiyosaki

Transcript

How He's $1.2 BILLION in Debt and Getting Richer - Robert Kiyosaki · The Hannah Hammond Show

• 0:00
  How much debt are you in? 1.2 bill Debt is money.
• 0:02
  You know my poor dad always says get out of debt.
• 0:04
  Dave Ramsey says get out of debt.
• 0:06
  My rich dad says only lazy people use their own money.
• 0:09
  Your job is to borrow money. We're always buying real estate
• 0:12
  because we use debt. We pay no tax legally.
• 0:15
  And you talk about in the Rich Dad principles that good debt
• 0:17
  puts money in your pocket. You use other people's money to
• 0:20
  create more value, essentially, and to create cash flow and
• 0:23
  financial freedom. I haven't found anything else
• 0:25
  out there that has the same tax strategies and legal loopholes
• 0:29
  and have those infinite returns like you talk about.
• 0:31
  It's pretty amazing. My job is to invest with no
• 0:34
  money. It's a lot of times we'll buy,
• 0:35
  you know like 300 unit apartment house.
• 0:37
  We have $1,000,000 in it. We get the net operating income
• 0:40
  up. When I fix it up, increase the
• 0:42
  rents and all this stuff. You know why is high enough, the
• 0:44
  banker will give us our $1,000,000 back.
• 0:47
  So guess what? When that $1,000,000 comes back
• 0:49
  to us, we're now infinite because none of our money is in
• 0:52
  it. I was talking to my friend
• 0:53
  William. We were talking about impossible
• 0:55
  goals. We were talking about it like a
• 0:57
  10 year goal and whatever. And he goes.
• 0:59
  Have you thought about your 1000 year goal?
• 1:01
  That's legacy, called it the The Jesus Effect.
• 1:03
  Like Jesus lives on long after he's gone, you've changed the
• 1:07
  way the world sees money, and that'll continue to live on.
• 1:09
  Why are poor people poor? Because they use poor words.
• 1:12
  You know, Word became flesh and dwelt amongst us from the Bible.
• 1:16
  And when a person says I can't afford it or I can't do that,
• 1:19
  they see themselves poorly. And where your attention goes,
• 1:23
  your energy flows. And so if your attention is on
• 1:25
  what you don't want, I don't want to be poor.
• 1:27
  I don't want to have a bad relationship.
• 1:29
  I don't want to be sick. Then all you're going to get is
• 1:31
  all of those things. What you don't want.
• 1:33
  What do you think are the top attributes of a incredible
• 1:37
  salesperson like Elon Musk or Donald Trump?
• 1:40
  Like what? What do you think that edge is
• 1:42
  to be able to sell anything? We are back in the house for
• 1:48
  Round 2. I had Robert on the Hannah
• 1:50
  Hammond show over six months ago now as my very first guest.
• 1:54
  And I'm just so happy to have you back and can't wait to get
• 1:57
  hear more about your life story and your insights on the economy
• 2:00
  and entrepreneurship, real estate, investing, all the
• 2:03
  things. And we'll talk a little bit
• 2:05
  about the tariffs and, and what's going on in the economy
• 2:08
  right now as well. So thank you so much for coming
• 2:10
  back on the show. Well, thank you and
• 2:11
  congratulations. Thank you.
• 2:13
  She was very successful. Thank you.
• 2:15
  I know our first our this video had over 2 million views.
• 2:18
  Yeah. That's incredible.
• 2:22
  Yeah, just from the the all the views, the clips and the short
• 2:25
  form and stuff. But you know, the one that
• 2:26
  really blew blew up was the Savers or Losers concept.
• 2:32
  I know you, you know, saving cash is throwing money down the
• 2:35
  drain. Yeah, but awesome.
• 2:37
  So first I want to start into your story about Vietnam.
• 2:42
  I mean, you fought and a lot of people don't know this, but you
• 2:44
  actually went and fought for our country twice in Vietnam.
• 2:47
  And you've even gone down and, and you're, you're a fighter
• 2:52
  pilot and you've even gone down. And I mean, you've had to take
• 2:55
  lives. You've had to fight for your
• 2:57
  life and you've had to fight for the freedom of the country and
• 3:00
  protect the lives of all the men around you.
• 3:02
  So I just really want to dive into how that shaped you as a
• 3:06
  man, because that was some of your earliest experiences in
• 3:08
  adulthood and how that helped you evolve as a leader.
• 3:13
  And, and you know, just to ultimately change the world,
• 3:17
  which now you've impacted over 40 million lives with the cop,
• 3:20
  with your book sales of rich dad, poor dad, and you're still
• 3:23
  traveling the world. Every time I text you, you're in
• 3:25
  like some other country teaching the cash flow game and you're
• 3:29
  just truly a legend. So take us back to Vietnam and,
• 3:31
  and some of those lessons you learned there.
• 3:33
  Well, the reason I want to talk to you about it is because my
• 3:35
  friend Ronald Tomasi, he wrote the book The Rational Male, and
• 3:40
  I think every man and woman should read it because I'm
• 3:44
  always talking to you because you have beauty, you have sex
• 3:48
  appeal, you're rich, and you have power.
• 3:52
  And what happens for women? The more successful you get, the
• 3:56
  fewer men, whereas for a guy, more successfully get more
• 3:59
  women. You know what I mean?
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  Because men aren't picky. And what Rallo says that women
• 4:05
  have hypergamy, which means that I think that's the word, women
• 4:09
  only go up, but then a horse will take anything they can get.
• 4:16
  So that's why I keep talking to you.
• 4:18
  I said because you've got beauty, brain, sex, money,
• 4:21
  power. But according to Rollo in his
• 4:24
  book Rational Male, fewer men. And that's my concern because
• 4:28
  when we were talking about what should we talk about, it was I
• 4:31
  noticed men getting more effeminate.
• 4:33
  They're they're less men. I mean, just men, and a lot of
• 4:37
  men I see a kind of squishy, if you know what I mean.
• 4:39
  I'm not against it, but, and that's why I was talking about
• 4:42
  the Marine Corps. And as a kid growing up in
• 4:44
  Hawaii, not that I was squishy, but I didn't have any core
• 4:48
  strength and you know, I mean drive or stamina and all that
• 4:52
  stuff. I was a surfer kid, cutting
• 4:55
  school, doing all the flunking out of school.
• 4:58
  So by the time I was 15, I knew I was in trouble, that if I
• 5:02
  didn't shape up and get some core strength, discipline, you
• 5:05
  call it, I was in trouble. So I applied.
• 5:09
  Plus I flunked out of school twice because I can't write now.
• 5:12
  It does, you know, does selling books.
• 5:15
  But anyway, so I wrote to my congressman and he gave me
• 5:19
  Naval, US Naval Academy at Annapolis.
• 5:22
  That gave me. But he says you're authorized to
• 5:24
  go there. Plus US merch, merch Marine
• 5:27
  Academy at Kings Point, NY. I think that's what really kind
• 5:30
  of shaped me up was I went to military school, not some
• 5:34
  swishy, swishy college like the University of Hawaii.
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  And that was a direction, you know, we all have, we all make
• 5:40
  changes in our lives paths. So going to military route was
• 5:45
  the best thing I could have done because I was just a swishy
• 5:48
  little surfer boy, you know, Not much drive, not much direction,
• 5:53
  no stamina, no goals. Who pushed you to go to military
• 5:57
  school? Was it you or was it your rich
• 5:59
  dad or who? Influenced something.
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  We all have this guiding systems inside.
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  I I knew I was in trouble. You know, I flunked out of high
• 6:05
  school when I was 15 because I can't write.
• 6:07
  And then when I was, when I was 18, I flunked out of school
• 6:10
  because I can't write. And you know what I mean?
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  I knew I was in trouble because kids were passing me and all
• 6:16
  this. I couldn't get a date and you
• 6:19
  know what I mean? And look at you now.
• 6:21
  Well, one of the most horrible stories I had was in a way, we
• 6:24
  went to this dance with first when, you know, first going out
• 6:27
  with girls. And it was this old gym and all
• 6:30
  the boys lined up on one side of the wall.
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  We're probably about 15 years old and all the girls on the
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  other side. This is old school 50s you know
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  and the boys would not cross the gym with whore to ask a girl.
• 6:43
  So finally the teacher was so exasperated he said OK you girls
• 6:47
  going to ask boys. And so all the girls came
• 6:50
  rushing across. I was the only guy sitting on
• 6:53
  the wall by myself. Oh my God.
• 6:56
  Oh, it you talk about wake up calls in life, you know, and
• 7:00
  that was a big one. I said, boy, if I don't shake
• 7:03
  up, I'm not going to have any girlfriends, you know, all the
• 7:06
  stuff that's important to when you're 15.
• 7:08
  Yeah. So that's what, you know, that's
• 7:10
  kind of what shaped me up. And I said I better start doing
• 7:12
  something besides just surfing and cutting school.
• 7:16
  Interesting. And was that when you were like
• 7:19
  17 right around? 15 to 17, I was completely
• 7:21
  worthless, you know? Yeah.
• 7:23
  But I was also at that time trying to you all trying to find
• 7:26
  our own directions in life. And when I was 15, I asked my
• 7:30
  teacher said, when we going to study money.
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  And the teacher says the love of money is the root of all evil,
• 7:36
  as one may be evil to you. But I'd like to have some
• 7:38
  because the school I went to in, you know, elementary school,
• 7:42
  we're all rich kids. You know, for some reason across
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  the street where the poor kids made their across the street
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  from the rich kids school I went to.
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  I said, how come they're rich and I'm poor?
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  So my father, poor dad, was a PhD from Stanford near Northwest
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  and New York, Chicago, smart guy.
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  He says, well, son, if you stay in school, you'll be rich.
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  I said, Dad, you're a PhD, you're still poor.
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  So our schools don't teach us anything about money.
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  So all of this was shaping me, if you know what I mean.
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  We're talking about in the car driving up here is we start as
• 8:13
  young people start finding out directions in life.
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  So I realized if I didn't get rich, I wasn't gonna get laid.
• 8:19
  Yeah, you know. It's important.
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  And if I didn't get some core strength and some discipline,
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  I'd be this little swishy little boy running around the place.
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  So. But at this point, you'd already
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  been learning from your rich dad, right?
• 8:31
  I started at 10, yes. OK.
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  But you still decided to go the military route versus trying to
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  just forget school and start entrepreneurship.
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  What kind of guided you to that direction even though you
• 8:43
  started learning about the importance of making money?
• 8:46
  Well, I hate to say this, that University of Hawaii, if you can
• 8:49
  fog a mirror, they'll let you in.
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  My grades were so bad, University of Hawaii rejected
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  me. If you can't get in the
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  University of Hawaii means you're a corpse or something,
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  you know? So I had a lot of this and we
• 9:00
  all have it in life, you know, something so good, something so
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  bad. But I realized I was in trouble
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  and if I didn't make changes in me, I was in bigger trouble.
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  So my rich dad was a guy that started, you know, so I started
• 9:14
  teaching me A10 playing Monopoly, you know, 4
• 9:17
  greenhouses, 10/31 red hotels. I own hotels today and 15,000
• 9:24
  rental properties and make a lot of money and pay no tax.
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  You know, I love it. That's my game.
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  But that's why I like you because I'm.
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  But when I met you said, well, you're the same path except
• 9:34
  you're a beautiful woman. And that's when you know, I
• 9:36
  started talking about a while ago things that Joe Polish
• 9:38
  introduced me to you. I said your path is different
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  than mine because the more powerful, richer and successful
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  you get, fewer men. Do you know what I mean?
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  And for me, men are whores. They'll take anything.
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  Yeah, yeah, it's true. I struggle with that for sure.
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  It being I mean and I know I will continue to so.
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  Yeah, but don't change. You know what?
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  I mean, no, I don't. I couldn't.
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  Well, thank you. So what was fighting in Vietnam
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  like for you? Like, were you, what were the
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  what are the greatest lessons that you learned from fighting
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  in Vietnam? Well, I went twice, you know, I
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  went in 1966 when I was 18 years old and I was midshipmen,
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  Midshipmen's a student officer on board a ship and we sell them
• 10:22
  to Kamran Bay. I was carrying bombs, 507 fifty
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  and 1000 LB bombs to Vietnam and some 18 years old, you know,
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  walking along, you know, their bombs are going off, people are
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  dying and all that. And so I went up to this bar,
• 10:37
  Little Sandy Bar, and I said, I asked the girl, I said what does
• 10:40
  a Vietcong look like? And she says, they're sitting
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  right there. So I look over these two guys
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  about my age, right? Was a three of them.
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  That's right, three of them. I walk up to them and I say, how
• 10:52
  you guys doing? And they didn't speak English, I
• 10:55
  didn't speak Vietnamese. But you know, two or three beers
• 10:58
  later, you can converse fairly well.
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  And so are I want to find out why they're a communist.
• 11:04
  Why were they Marxist? Because at the Academy I went to
• 11:07
  US Merch Marine Academy, we studied Marxism.
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  I said, why are we studying Marxism?
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  Because communists are our enemy.
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  So I could now interview the enemy, if you know what I mean.
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  We're just kids. We're kids.
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  And finally, what it came down to, they wanted what you and I
• 11:24
  have capitals. They wanted the ability to use
• 11:29
  their own work and efforts, you know, to attain a better life.
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  And I don't know how we got to there, but drinking, you know,
• 11:34
  beer and all this stuff, they just want the same things, you
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  know? And so that was 191966.
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  And I said, I'll be back. And I said we'll be waiting.
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  So I came back in 72 as a Marine pilot and I flew the helicopter
• 11:50
  gunship off a carrier. And I don't know if I ever shot
• 11:52
  those guys, but I still remember them.
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  I said, you know, we're just young men and we're just told to
• 12:00
  kill the other side. I was telling you about the poem
• 12:03
  by Alfred, Lord Tennyson. Ours is not to question why ours
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  is, but to do or die. And so we just, I just flew into
• 12:12
  battle and I was killing guys who were trying to kill me.
• 12:16
  It's nuts. It's nuts.
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  And I went down three times, not not to enemy fire, but I went
• 12:20
  down for engine failures and aircraft failures and all this
• 12:24
  stuff. But the Marine Corps trained us
• 12:26
  so well, you know, to fly a, a helicopter without an engine or
• 12:32
  without a tail rotor or failures.
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  So all of that shaped me, if you know what I mean, because you
• 12:39
  don't. We can't expect everything to go
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  well. So if you're prepared for bad
• 12:43
  times, that's always good times. And it was great training, great
• 12:49
  discipline. I loved it and I want, you know,
• 12:53
  I see men today. I mean a lot of my friends kids,
• 12:56
  they're a little lightweight, if you know what I mean.
• 12:59
  So that's how I was talking to you.
• 13:01
  How do you find a man with some of these guys are going the
• 13:04
  other way? You know, they're, they want to
• 13:06
  compete with girls track members or something.
• 13:08
  Yeah, yeah, fight in the girl sports.
• 13:12
  So how is it? May I ask you this question?
• 13:13
  How is it being a woman who is ambitious and gorgeous and
• 13:18
  making a lot of money? How do you find men?
• 13:20
  Well, I'm single, so there's your answer.
• 13:24
  It's, it's challenging, you know, I, I'm still trying to
• 13:27
  figure that out. And it's, you know, I have a lot
• 13:30
  of, I have a lot of masculine energy that I have to bring down
• 13:34
  because a man, especially an alpha, powerful men.
• 13:38
  Yeah, a lot. Ambition.
• 13:39
  You have goals, which I love. But but men also have the desire
• 13:44
  to be, you know. Tarzan.
• 13:48
  Yeah, yeah. They want to be like, they want
• 13:50
  to have a feminine woman at the same time as somebody that
• 13:54
  contributes and stuff. So I've actually found that a
• 13:56
  lot of alpha man, which is usually what I am around.
• 13:59
  So that's the only sample size I really know.
• 14:01
  But a lot of those types of men, they like more of the
• 14:03
  traditional wife, like the feminine, the, the soft, the
• 14:08
  nurturing. And I, I always kind of had to
• 14:10
  not be that to, to like survive in in my own world.
• 14:14
  And so I have to, I have to balance that out personally, But
• 14:18
  you know, I'm so focused on building businesses and building
• 14:20
  an empire. It's just like I'm not very I'm
• 14:24
  like I'm not looking type thing, but I don't really know any
• 14:27
  anybody that is would be like that's the perfect partner for
• 14:31
  me. I haven't really met that
• 14:32
  person. It's it's challenging.
• 14:34
  Well. Again, I want to thank Joe
• 14:36
  Polish because we introduced me to you.
• 14:37
  I'm going. You've got it on the outside,
• 14:40
  but more importantly, got it on the inside.
• 14:43
  Thank you. Now that's in today's masculine,
• 14:46
  feminine world, makes it harder for you.
• 14:48
  For me, it's for me. The more successful I get, more
• 14:51
  women, which is nice, you know? But for women, I feel for you,
• 14:55
  you know? Yeah, well, and then as I get
• 14:57
  older too, I mean, I'm 29, so I have a couple of years of shelf
• 15:01
  life in, in me. But I, you know, I'm around, I'm
• 15:03
  around men and their their 40s and 50s is, you know, the
• 15:07
  majority of the men around me. And they want a young, they
• 15:10
  would, they have money and they have freedom and they want a
• 15:12
  young pretty girl that you know, and I don't blame him.
• 15:16
  So I know as I as I continue to age, but that's where it has to
• 15:19
  become more it, it has to be so much deeper than just it's, it
• 15:24
  can't be transactional, you know, and I think so many
• 15:26
  relationships these days are very transactional.
• 15:29
  And it's, it breaks my heart really, because I want a partner
• 15:31
  that is truly helps me be the best version of myself and vice
• 15:36
  versa. And it's not something of just
• 15:38
  like, oh, you're a trophy or you're a status symbol or you're
• 15:42
  a safety blanket. It's something deeper than that
• 15:44
  and that. Would definitely be a trophy,
• 15:46
  but you wouldn't, you wouldn't allow yourself to be that.
• 15:49
  No, right. So.
• 15:50
  When we're talking about what we're talking about, this show,
• 15:53
  we're talking about, you know, sex, money and power is a good
• 15:56
  combination, especially for men. But for women, it's another
• 16:00
  story. That's what I'm saying.
• 16:01
  Yeah, yeah, we talk, we talk a lot about that when we when we
• 16:05
  spend time together. So I mean, I and you even said
• 16:08
  that was a driving factor for you even from high school.
• 16:10
  I mean, I think it's humanity, right, As a man wants to be
• 16:15
  chosen by a woman and wants to be be able to have their pick
• 16:20
  out there well. I tell you, when I was sitting
• 16:22
  on that gym wall and all the all the guys were ass except me,
• 16:26
  that was one of those wake up calls.
• 16:28
  You know, you go, yeah, you're in trouble.
• 16:30
  You know what I mean? I'm in trouble.
• 16:32
  And that was the driving force to ultimately cause you to.
• 16:35
  Do something to ask questions. And so my poor dad said, don't
• 16:39
  worry, you know, get your PhD and you'll be fine.
• 16:41
  My rich dad said, and this is what I was talking to you about.
• 16:44
  I said I want to be an entrepreneur.
• 16:46
  My dad wanted me to become a, you know, I was a pilot.
• 16:48
  Just go fly for the airlines. I said time through flying.
• 16:52
  I loved it, but I'm through and I asked, I want to ask my rich
• 16:55
  dad, you know, my best friend's father said, how do I be an
• 16:57
  entrepreneur? He says, you don't have the
• 16:59
  skills. I went, what he says the skills
• 17:03
  to be an entrepreneur are different than an employee.
• 17:06
  Well, like a pilot is a different skill set than an
• 17:08
  entrepreneur. You know what I mean?
• 17:09
  It's a completely different. So I said, so what's the first
• 17:13
  skill set He says you have to be able to sell.
• 17:15
  I went, Oh no, the reason I say that was in my family, poor
• 17:20
  dad's family salesman were scum. My dad was actually a Marxist, a
• 17:25
  good man, but a Marxist believes in the abolition of private
• 17:28
  property taxation and labor unions.
• 17:32
  You study marks. I had to study marks at the
• 17:34
  Academy. And so, you know, Marxist
• 17:37
  abolition of private property workers of the world unite,
• 17:40
  which is labor unions and taxes are essential for the spread of
• 17:44
  communism. That was my poor dad and my rich
• 17:47
  dad didn't pay any taxes. So I I'm rich that had a lot of
• 17:50
  property. My poor dad had none.
• 17:52
  So you can tell a person by what they do more than what they say.
• 17:58
  So I'm studying with my rich dad how to acquire real estate.
• 18:01
  So I says you're going to be an entrepreneur on #1 skill.
• 18:04
  That's a sell. I went, oh, no, somewhat.
• 18:06
  I'm about 24 years old now. Getting out of the Marine Corps
• 18:10
  goes, I don't want to sell. Sorry.
• 18:14
  My my rich dad looks at me. He says, how's your sex life?
• 18:17
  I said nonexistent. This is because you can't sell.
• 18:22
  And then the second thing is you have to learn to raise money and
• 18:26
  be an entrepreneur. And you know, like that was just
• 18:28
  terrifying. I was a Marine pilot who came
• 18:31
  back. I was happy to be alive, lost a
• 18:33
  lot of friends out there, just happy to be alive.
• 18:36
  But now I have to learn how to raise capital.
• 18:38
  So that's why I took, I got a job with Xerox because of the
• 18:42
  best sales training. And then I got and then I went
• 18:44
  to take courses in real estate so I can learn how to use debt
• 18:49
  to finance properties, which is what you do.
• 18:51
  Yep. So though, it's skills that make
• 18:53
  your rich, not your degrees. And then so you went to Xerox,
• 18:57
  you got the sales training and then you were successful in
• 19:01
  that. But then you decided to get into
• 19:02
  entrepreneurship. You started like.
• 19:04
  You have to be able to sell to be an entrepreneur, right?
• 19:07
  When I, when I meet people who are employees, they can't sell
• 19:12
  or they can't sell enough to, you know, cover the rent.
• 19:14
  And, you know, the more employees they have, the more
• 19:16
  you got to sell. And then you have to raise
• 19:19
  capital to acquire property and stuff like this.
• 19:22
  So they're just skill sets. But most people don't have them.
• 19:26
  And they become the academic left.
• 19:28
  You know, this is my friend Trump over here.
• 19:30
  They hate him. He goes, boy, can he sell, You
• 19:34
  know what I mean? Is he a tough guy, too?
• 19:36
  And you know what I mean? He and Elon are tough guys.
• 19:39
  Oh yeah, good deal makers. And you know what I mean, Elon
• 19:43
  Musk, there was first thing that Trump comes in by the leftless
• 19:47
  astronauts spinning in space and Trump gets into offices.
• 19:51
  Hey, Elon, get those, get those astronauts down.
• 19:55
  So. So Elon sends his own rocket up
• 19:58
  to pick him up. Crazy he.
• 20:00
  Didn't send Uber, he's in his own rocket.
• 20:03
  I mean, those guys are studs. I know, I can't believe it.
• 20:07
  Billionaires, both of them. Yeah, yeah, I don't even what is
• 20:10
  Elon's net worth at now like 100 and something billion or 300, I
• 20:15
  don't even know. I can't keep up, it changes so
• 20:17
  much but. But I mean, they're tough guys.
• 20:19
  Yeah. They're tough.
• 20:21
  What they're doing now with doge, you know, DOGE department
• 20:24
  government efficiency, they're pissing off a lot of people.
• 20:29
  And then Trump's going to shut down the Department of Education
• 20:32
  because it's Marxist. You know, most school teachers
• 20:34
  are Marxist good people, but they're Marxist and they're
• 20:36
  poor. And so they want to kill Trump
• 20:39
  and and Elon now. So what we'll, we'll, we'll get
• 20:43
  more into that in a little bit, but what do you think are the
• 20:46
  top attributes of a incredible salesperson like Elon Musk or
• 20:52
  Donald Trump? Like what?
• 20:53
  What do you think that edge is to to be able to sell anything?
• 20:57
  Well, that's a skill set, you know what I mean?
• 20:58
  As the reason I took zero, I interview with two companies.
• 21:02
  This isn't 74 long before you were born, it was IBM had good,
• 21:06
  good sales training and so did Xerox.
• 21:08
  And then Xerox flew me from Hawaii to Leesburg, VA.
• 21:12
  And they lock you in a room like this and they have cameras on
• 21:16
  you and they train you to sell. So you're pitching the deal.
• 21:19
  You know how to buy a copy or whatever you're selling and then
• 21:22
  they would replay the camera. You did this, you did this, you
• 21:25
  did this, you did this. It was unbelievable training,
• 21:29
  you know. So when people say how do I get
• 21:31
  sales skills, I said, well, one way is join a network marketing
• 21:35
  company like Amway or something like that because they'll train
• 21:38
  you to sell. No, I don't want to sell.
• 21:41
  I don't want to sell. Well then you'd probably be an
• 21:44
  employee the rest of your life. Yep.
• 21:45
  Not an entrepreneur. Yep.
• 21:47
  You taught me that 33 main skills is sales, public speaking
• 21:51
  and capital raising. Yeah.
• 21:53
  And then you finished Xerox, you learn how to sell, and then you
• 21:57
  started your own company, which was a nylon.
• 22:00
  Alco wallet, Yeah. The thing was I met the other
• 22:02
  thing is what makes you rich are your friends.
• 22:05
  So, you know, like my I met my best friend at Xerox and this
• 22:09
  boy could sell. He was a Mormon missionary.
• 22:13
  And. We're he's extremely like
• 22:16
  Richard Gere, you know, extremely handsome guy and he
• 22:19
  didn't have his MBA. I didn't have my MBA.
• 22:22
  So the the guy was recruiter is hiring us.
• 22:25
  He says so he says to me, you don't have an MBA.
• 22:27
  What makes me you can sell. I said, hey, I've been driving a
• 22:31
  helicopter gunship against LMA. I got, you know, people are
• 22:35
  shooting at me all day long. I can do that.
• 22:38
  I can sell. He goes.
• 22:40
  You're hired. He asked my friend Larry.
• 22:42
  So what makes you? He can sell, He goes.
• 22:44
  And Larry was Larry's from Phoenix, and he was assigned to
• 22:47
  Northern Ireland. And he says I have the highest
• 22:50
  conversion rate of Catholics to Mormonism in the Mormon church.
• 22:57
  If I can convert a Catholic to mark Mormonism, I can sell.
• 23:01
  So you're hired, and that's what it takes.
• 23:03
  Yeah. What?
• 23:04
  How did that shift into entrepreneurship?
• 23:05
  Was your first business that you had the wallet business?
• 23:09
  Was that a failure or success? Well, it was we, we failed and
• 23:13
  succeeded. But, you know, Larry and I
• 23:15
  became the best of friends. He just sold this business for 2
• 23:19
  billion, you know, so he became a billionaire.
• 23:22
  Beat me to it. We, we, we pushed each other
• 23:24
  along. You have to have good friends.
• 23:26
  And so when we made millions together, we achieved a million.
• 23:30
  And we did it through real estate, you know, not through.
• 23:33
  We had to invest our money constantly.
• 23:35
  So we're practicing raising money, but investing in real
• 23:37
  estate. So we made million together, but
• 23:40
  he beat me to a billion. But your friends are crucial.
• 23:44
  So if your friends are all employees, I don't give you much
• 23:48
  hope, you know, because that's who you are.
• 23:49
  You are, you know, you are your friends and so that's, that's an
• 23:53
  indicator. And if you don't like your
• 23:56
  friends, you better change, you know, make some changes.
• 23:59
  Oh, it's so important. I mean, who you?
• 24:01
  That was the biggest shift in me when my life started to
• 24:04
  exponentially improve was. Everything changes.
• 24:07
  Yep. Yeah, You're the sum of the,
• 24:10
  you're the average. This.
• 24:12
  What is it? You're the average of the five
• 24:13
  people that you spend the most time with.
• 24:15
  Well, look who introduces me to you.
• 24:17
  Yeah, Joe Polish. I mean, that guy would sell fish
• 24:21
  to an Eskimo or something. He he can sell.
• 24:25
  Fish to an Eskimo. Yeah, he is amazing.
• 24:29
  Joe is so talented and that's why I mean, that's why I spend
• 24:31
  all my time with you and and people and Joe Yep.
• 24:34
  And that type of circle because it inspire.
• 24:37
  It's so amazing because when you surround yourself from people
• 24:40
  who are grand thinkers, you know, like you and Donald Trump
• 24:46
  and Elon Musk and like those, I mean, and, and so much in
• 24:48
  between, but real true leaders. It makes what I've learned is
• 24:52
  that it allows me to see how small I'm thinking.
• 24:56
  And I think I'm thinking big, but I realize I'm not.
• 25:00
  And so when I'm around people like you, I'm like, Oh, my God,
• 25:03
  there is so many more levels to this game.
• 25:06
  And not just business, but relationships, spirituality,
• 25:10
  like every area of life that you could possibly be in.
• 25:13
  There is so many more levels that you don't know if you're
• 25:19
  only surrounding yourself by a peer group that only thinks to a
• 25:22
  certain ceiling. Yeah.
• 25:25
  When I meet somebody who tells me they have a four O 1K and
• 25:27
  they have job security, you know, it's fine.
• 25:29
  You know, not that I'm not going to be their friend, but we don't
• 25:32
  have much in common. You know, I don't have a four O
• 25:34
  1K but I don't need the money either.
• 25:37
  You know, I create my own assets so and my friends are all like
• 25:42
  that. So it's good.
• 25:45
  You are your friends. You are what you spend your time
• 25:47
  on doing. My friends and I study a lot.
• 25:51
  And then what you spend your money on?
• 25:54
  Yeah, being a constant student of life.
• 25:56
  I mean, you are always sending me training, you know what's
• 25:59
  going on in the economy and these insights on certain this
• 26:02
  and that and and I'm always doing it to every time you call
• 26:05
  me, I'm at a conference or a mastermind or a seminar and
• 26:07
  we're just a constant student of life and always learning.
• 26:10
  And then and you share that about your, your ESBI quadrant
• 26:15
  is. Cash flow quadrant.
• 26:17
  Your cash flow quadrant is everybody that once you stop
• 26:21
  learning, you stop growing. And I think that we're either
• 26:23
  growing or we're dying. And not only that is like
• 26:27
  recently I had to let go of my company because the fight we had
• 26:31
  in the company was they didn't want to study.
• 26:33
  And I said, how can you not study?
• 26:35
  We don't want to study. We don't want to study.
• 26:37
  Just send us our paychecks was gone.
• 26:39
  I can't plump against that mindset.
• 26:41
  You know, I'm not here to force somebody to be what they're not
• 26:44
  wanting to be. But unfortunately the company
• 26:46
  was dying because the internal wasn't growing.
• 26:50
  Plus my wife and I got divorced, which was my employees got
• 26:53
  caught between. That was a bad thing was toxic.
• 26:56
  So the good thing about we just let everything go.
• 27:00
  I just create a whole nother system.
• 27:01
  I'm making more money and starting you the company and
• 27:04
  entrepreneurs starts another company.
• 27:06
  It's not like big deal, I don't have a job, you know, I start
• 27:10
  another company. So I call my team up, start
• 27:13
  another company, we're out making more money.
• 27:16
  It's fun. It's a game, you know.
• 27:18
  What what were some of the key lessons you learned from your
• 27:21
  first business and how did you take those lessons and then make
• 27:25
  a Better Business after that? Well, the reason you must start
• 27:28
  a business is you can learn something and make mistakes.
• 27:31
  And that's why I don't like about school teachers.
• 27:33
  They tell you make mistakes, you're stupid.
• 27:36
  But how humans learns by making mistakes.
• 27:39
  So like a baby learns to walk by falling down, you know, and if
• 27:43
  the baby was in school, the teacher would stupid kids,
• 27:46
  stupid kid, you can't walk. Well, how's the kid going to
• 27:49
  walk? And we keep punishing him for
• 27:50
  falling down, you know, and that's what schools do.
• 27:53
  But that's the academic mindset. You know, the people that don't
• 27:57
  like Trump employee types, they got good job security, they got
• 28:01
  a four O 1K and they got a steady paycheck.
• 28:04
  That's what they want, different value.
• 28:06
  Nothing wrong with the different value system.
• 28:08
  So my first business was a nylon and Velcro surfer wallet
• 28:11
  business. And I actually started that
• 28:12
  business at the Academy. And the reason I was at the
• 28:14
  Academy, I was in school in New York, is we would take leather
• 28:18
  wallets with us and they'd rot because we're always in the
• 28:21
  water. And I was a sailor and rower and
• 28:23
  all this stuff. So we used to get old sales, you
• 28:27
  know, scrap sales. And we'd sold wallets and put
• 28:30
  Velcro on them. And one day I showed that to
• 28:32
  somebody, said, can I want one of those?
• 28:34
  And that's how I started. So we started sewing our own
• 28:37
  wallets and all this. And then I placed an order in
• 28:40
  Taiwan, you know, follow these wallets and all this.
• 28:43
  But then I had to raise capital to pay for the wallets because
• 28:48
  you can't get them in unless you pay for them.
• 28:51
  So I had two partners and they couldn't raise money, John and
• 28:54
  Stan, they couldn't raise money. So I raised $100,000 and Stan
• 28:59
  ran off with the money. That was my first business and I
• 29:03
  should have known something. Stan was a weak man, you know,
• 29:06
  he was, I don't even see Dennis the Menace anymore, but Dennis
• 29:10
  Menace, his father, he was just skinnies chronic guy with
• 29:12
  glasses, you know, But he wasn't a strong man and that's why, you
• 29:16
  know, I'm very caught. I'm not against guys want to be
• 29:19
  gay or one dance to a hula, but you got to be strong.
• 29:24
  And he was so weak. He needed the money so bad
• 29:27
  because we're offering without money.
• 29:29
  He ran off with it and I went. So I had to pay.
• 29:33
  That was $100,000, which was a lot of money back then.
• 29:36
  So I had to pay it all back, pay my investors back.
• 29:39
  That was a learning. That was the biggest mistake.
• 29:41
  I went be careful who your partners are.
• 29:45
  It's like, it's like a marriage, you know, but your business
• 29:47
  partners, if they're weak people, you're in trouble too.
• 29:51
  So I'm very cognizant of who I invest with, but what kind of
• 29:55
  people are they? How do you, because that's so
• 29:57
  important and you've really aligned yourself with some long
• 30:00
  term partners and, and advisors, you know, from Ken McElroy on
• 30:05
  the real estate side to Tom Wheelwright on the CPA and
• 30:08
  accounting side. How do you vet?
• 30:11
  Because I've been through that, but multiple Times Now where I
• 30:14
  have a lot of trust or faith or I believe in them or I'm very
• 30:18
  clear and I think that they're going to be the same.
• 30:20
  And then turns out six months in, when you're already married
• 30:22
  and it's too late to, to, to turn back, you lose it all or
• 30:26
  you realize who this person really is.
• 30:28
  How have you vetted who your partners are and like, what do
• 30:32
  you look for in a good business partner advisor that you're
• 30:34
  working with? A lot of it's intuition and
• 30:36
  sense, you know, but also the reputation.
• 30:39
  So I do my market research. But another thing is I ask about
• 30:43
  sport they played. So a lot of times, you know, a
• 30:45
  golfer is an ESP, s s, interesting.
• 30:50
  And I was a rugby player. We're B's, we're team players.
• 30:54
  I rode we're a team eight man team heavyweight, you know, so
• 30:59
  if you can't lead the team, you've generally become the head
• 31:01
  of the company. So I kind of what sport did you
• 31:04
  play? What did you do?
• 31:05
  You know, just having a beer, drinking with them, just like
• 31:08
  those Viet Cong. Yeah.
• 31:09
  You know, what do you guys want? You know, you get a sense of
• 31:12
  them. So Kenny McElroy and I, he's a
• 31:15
  smartest realist. He has his own podcast, you
• 31:17
  know, and he wrote a book called.
• 31:18
  He has three books out on real estate.
• 31:21
  AB, CS. AB, CS of real estate and all
• 31:23
  this. But our gig when I met him, the
• 31:25
  reason I fell in love with him? He's a tiny guy, you know?
• 31:29
  He's so fun. He is he's funny as hell.
• 31:31
  He says the job is to not use your money.
• 31:34
  And So what we what we so philosophically we aligned So
• 31:38
  our what I mean by that we go for the infinite return.
• 31:42
  So I showed you my, you know, my old age home behind Tarbells on
• 31:46
  32nd and Camelback. My job is to invest with no
• 31:49
  money. It's just that you get, you get
• 31:51
  good enough so that you don't need money in a deal.
• 31:55
  It's a lot of times we'll buy, you know like a 300 unit
• 31:57
  apartment house. We'll fix it up, get the debt
• 32:00
  noy up, the net operating income up.
• 32:03
  And we get that high enough, we go back to the bank and we
• 32:06
  refinance the building. So let's say we have $1,000,000
• 32:09
  in it. We get the net operating income
• 32:12
  up, we fix it up, increase the rents and all this stuff.
• 32:15
  NOI is high enough. The banker will give us our
• 32:18
  $1,000,000 back. So guess what?
• 32:20
  When that $1,000,000 comes back to us, we're now infinite
• 32:25
  because none of our money is in it.
• 32:27
  And not only that, when that money comes back to us, because
• 32:29
  it's debt, we borrowed it off the building.
• 32:33
  It's tax free. I mean, it's just this game, you
• 32:35
  know what I mean? And so that's the better you
• 32:38
  get, the more we want to play games.
• 32:40
  Just be legal, honest and tell the truth, you know, that's all
• 32:43
  I ask. But a lot of people cut corners
• 32:46
  and they do stupid things. So Kenny and I have most of our
• 32:50
  buildings where infinite returns.
• 32:53
  We have no money in it. It's pouring cash flow.
• 32:57
  And with the cash flow, since it's debt money, I don't pay tax
• 33:00
  on it. And then I legally, that's what
• 33:02
  Tom Wheelwright does. He keeps me out of trouble, out
• 33:04
  of jail, and I buy gold, silver and Bitcoin.
• 33:09
  So I invest in real money. Gold, silver, Bitcoin.
• 33:13
  And that's why I love real estate so much.
• 33:15
  I don't. I haven't found anything else
• 33:17
  out there that has the same tax strategies and legal loopholes
• 33:20
  to be able to RE to compound your wealth and your cash flow
• 33:26
  with, you know, without paying tax.
• 33:28
  It's, it's pretty and have those infinite returns like you talked
• 33:31
  about. It's pretty amazing.
• 33:32
  And and then you found the right partners where you can do that
• 33:36
  on a very large scale, find the good deals, have the good
• 33:40
  operations and have the good exit strategy, whether it's a
• 33:43
  refinance or a 1031 exchange to continue to defer taxes.
• 33:47
  And then you can take your money and then go invest it elsewhere.
• 33:50
  So you're not doing all the nitty gritty operations of
• 33:54
  finding these properties and managing the crews and all that
• 33:56
  stuff. Kenny gets to enjoy that part,
• 33:58
  right? But.
• 33:59
  Well, Kenny, the reason I like Kenny was he's property
• 34:01
  management. The hardest thing about real
• 34:03
  estate is the management and he's he is one of the biggest
• 34:07
  property managers around and that's his skill set.
• 34:11
  So I'm looking for people with different skill sets.
• 34:13
  I don't have That's a team sport.
• 34:16
  And it's, it's the other thing too, is Tom Wheelwright is my
• 34:22
  accountant and Kenny and the rest of my John McGregor and all
• 34:26
  that. Every Thursday we study
• 34:28
  together. Still.
• 34:31
  Every Thursday morning, 7:30. Wow.
• 34:34
  So that was kind of blew my company about because our
• 34:37
  employees didn't want to study and going here we are multi
• 34:40
  millionaires, they're employees, they don't want to study.
• 34:42
  I'm going, but that's a value system.
• 34:44
  I mean, they're entitled to their values.
• 34:47
  Well, I don't know how you cannot study.
• 34:48
  So that's right. You're always in seminars and
• 34:51
  I'm always sending you stuff I'm coming across.
• 34:53
  Look at this, look at this, look at this.
• 34:55
  Because YouTube's just magnificent.
• 34:57
  They got got some flakes on it, but they got some really smart
• 35:01
  guys on YouTube, you know, So we studied them Like right now this
• 35:05
  coming Thursday, this is April 2025.
• 35:08
  Next Thursday, we're going to study what Trump's putting in
• 35:11
  his tariffs. And it's really interesting
• 35:14
  because of tariffs are killing China, and that's not good.
• 35:18
  So that's what we're talking about.
• 35:20
  Are we going to war next? Because that was my back.
• 35:23
  I went to military school and I studied how we get into wars.
• 35:27
  So I'm a little concerned now because I already fought, you
• 35:30
  know, in Vietnam. America has lost every war since
• 35:33
  Vietnam. We lost.
• 35:35
  We lost Vietnam. We lost Afghanistan, we lost
• 35:38
  Iraq, and Trump must have turned Gaza into a beach town.
• 35:42
  Well, so let's talk about that. You know, there's been a lot of
• 35:44
  turmoil, there's a lot of volatility.
• 35:46
  There's a lot of diversion of thinking going on right now.
• 35:52
  You know, half the world or half the country at least is thinking
• 35:56
  one thing's going to happen. The other half is thinking
• 35:57
  another thing's going to happen, which is the indicator of a
• 36:00
  diverted yield curve, which shows a lot of confusion in the
• 36:03
  economy. So, you know, we're there's
• 36:06
  tariffs and then there's not tariffs and then there's pauses
• 36:08
  and then there's there's some back and forth going on.
• 36:10
  And obviously we've the yield curve inverted a couple years
• 36:14
  ago, which is usually the indicator over the next whatever
• 36:16
  24 months or something. There's going to be a recession.
• 36:19
  You've been warning of the everything crash for a long
• 36:22
  time. This book here in 2002.
• 36:24
  Yeah, talk to us about. I said why?
• 36:26
  I said enriched Dad's prophecy, which came out 2002.
• 36:29
  I said why the biggest stock market crash in history was
• 36:32
  still coming. And we've had a lot of crashes
• 36:34
  up to then. That was 2008.
• 36:37
  But the thing that's we're talking about driving over here,
• 36:40
  being a student of history, the reason there's going to be a war
• 36:45
  is it starts with what's called a currency war.
• 36:48
  In a currency wars, like Japan or China or America will devalue
• 36:52
  their currency. So if I can make the dollar
• 36:54
  weaker, I can sell more products to China and China lowers their
• 36:59
  value of their yuan, and then they can sell more products to
• 37:03
  America. So that's a currency war.
• 37:05
  The tariff war is a trade war. OK, so it goes currency war,
• 37:10
  trade war, kinetic war, shooting war, and they go, oh, how do you
• 37:15
  know that? Well, you look at what happened
• 37:16
  in America and England. So England was the primary power
• 37:21
  way back in 1700. So 1773 there was a tariff war
• 37:27
  was called the Boston Tea Party. And after the Boston Tea Party,
• 37:31
  where America says we're not going to pay your taxes, 1776
• 37:35
  was the Revolutionary War. So we're on path to do the same
• 37:39
  thing again. So I sit here and I go, that's
• 37:41
  why I'm concerned because our, you know, I'm, I'm military is
• 37:45
  DEI or D i.e., whatever they call it.
• 37:47
  They're a bunch of swish, swish buckets up there.
• 37:50
  We're not ready to fight. And like I said, when I'm, when
• 37:54
  I was in Vietnam, I meet the Vietnamese.
• 37:57
  One most frightening things Hannah was I was a pilot flying.
• 38:00
  And we're, we're, it was a DMZ at the militarized zone between
• 38:04
  North Vietnam and South Vietnam. And there was a city called
• 38:07
  Quang Tree. And we're trying or doing our
• 38:10
  best to stop the NVA at Quang Tree.
• 38:13
  And to my horror, you know, to this day, I still can see it.
• 38:17
  We fought and fought and fought, but the North Vietnamese wanted
• 38:21
  to win more than we did. So they crossed at Quang Tree
• 38:25
  across a Demilitarized Zone. Our Vietnamese, a South
• 38:29
  Vietnamese, turn and ran. And that's why they didn't stop
• 38:32
  until they took the embassy in 1975.
• 38:35
  So I got in trouble. I'm like, I was a carrier pilot.
• 38:37
  You know, the saddest thing, I put me in a carrier pilot.
• 38:39
  I said, your friends don't come home.
• 38:41
  They got shot down. You don't see them again.
• 38:43
  So I'm on the carrier. And I asked my commanding
• 38:45
  officer. I said, Colonel, how come their
• 38:49
  Vietnamese fight harder than our Vietnamese?
• 38:52
  And that's what I sense. I don't, I think Americans are
• 38:55
  soft. You know, I think the other guys
• 38:58
  want to win more than we do because that's what it comes
• 39:00
  down to. So I look at we have a, you have
• 39:03
  a, you have a currency war, tariff war, shooting war.
• 39:08
  And are you? So right now we're in a tariff
• 39:10
  war. Are you, are you, are we also in
• 39:12
  a currency war? Yeah.
• 39:13
  Yeah, yeah, there's always currency wars.
• 39:16
  You always want to devalue your currency so you can sell more to
• 39:18
  somebody else. So if you develop, if you
• 39:20
  devalue, you make the dollar weaker.
• 39:22
  We can sell more products to China or Germany.
• 39:24
  But right now Germany is collapsing and Japan's
• 39:28
  collapsing. America is the biggest debtor
• 39:31
  nation in world history, and China's going to kick our butts.
• 39:35
  So that's, I don't want to say this, but I was in Okinawa at
• 39:38
  the Marine Corps Air Station I was stationed at during Vietnam
• 39:42
  and we went into the room as, as a two star general there, said
• 39:46
  John. And everything here is
• 39:47
  confidential. This was just a few weeks ago.
• 39:49
  Yeah, a few weeks ago, and I'm looking at the charts, there was
• 39:53
  Taiwan, they had all the battle sites ready.
• 39:56
  And then in Palau was the island chain America was putting over
• 40:00
  the Earth satellite, I mean a radar and.
• 40:05
  Runways for big jets and they've moved Marine battalions out
• 40:09
  there. So this is now.
• 40:11
  Yeah. We're preparing for it.
• 40:13
  What do you think the repercussions would be to our
• 40:16
  daily life in America as entrepreneurs, investors and
• 40:20
  just American citizens if we go to war?
• 40:22
  I hate to think it's because you know, even during Vietnam, there
• 40:27
  was also what they called a nuclear option and we drop a
• 40:29
  nuclear bomb on people. And that's why, you know,
• 40:32
  everybody's working to make sure Iran doesn't get the bomb and
• 40:34
  all this stuff. So we're, we're global tension
• 40:38
  and we're at tension inside America with the radical left,
• 40:42
  you know, those, the Harvard professors saying screw you to
• 40:46
  Trump and all this. So we're at civil war inside our
• 40:49
  country. And then you had the, the
• 40:50
  poverty increasing. You know, when you look at the
• 40:53
  homelessness, I, I still can't figure it out.
• 40:57
  How come homelessness is spreading all over the world,
• 40:59
  you know, and then they say as well, because of drugs and
• 41:02
  mental illness. True.
• 41:04
  Well, when I studied money, when you print money, you know that
• 41:07
  the fake US 1971 Nixon took the dollar off the gold standard and
• 41:12
  we started printing money. When you print fake money, OK,
• 41:17
  two things happen. The rich get richer and the poor
• 41:21
  middle class get poorer. So how does that happen?
• 41:24
  So when you print fake money, I can, my goal goes up, my housing
• 41:28
  goes up. I have I have oil wells.
• 41:30
  My price of oil goes up. But when you print fake money,
• 41:35
  chickens go up, food goes up, milk goes up, eggs go up.
• 41:39
  So the rich get richer when you print fake money through the
• 41:41
  inflation of the asset, but the poor little class get poorer
• 41:47
  because of inflation of just life support, you know, food and
• 41:50
  energy and housing and just stuff.
• 41:52
  So I look at America and we were once the richest country on
• 41:56
  earth. Now we're the biggest debtor
• 41:58
  nation of our things at $37 trillion + 250 trillion in off
• 42:04
  balance sheet liabilities like Medicare, Social Security,
• 42:09
  pensions and all this. So we're in bad shape.
• 42:12
  And so that's what this was does prophecy in 2002.
• 42:16
  And I said this crash is still coming.
• 42:18
  It's now it started today, it's crashing and the crash goes in
• 42:22
  the bond market, not the stock market.
• 42:25
  So today the Chinese and the Japanese and people are selling
• 42:29
  U.S. Treasuries.
• 42:30
  We're over, we're finished because the bond markets like 10
• 42:33
  or 20 times bigger than the stock market.
• 42:36
  Why don't they teach us at school?
• 42:38
  Why? Because teachers want to tell
• 42:41
  you how boys can be girls and right on the track team and.
• 42:45
  So before I go on that tangent, so I mean, for somebody wanting
• 42:50
  to prepare and you tweet about this too, is like if you think
• 42:53
  it's going to be a soft landing, think again because it's
• 42:56
  probably not going to be a soft landing.
• 42:58
  It's probably going to be pretty hard landing.
• 42:59
  And instead of panicking, you have to be prepared.
• 43:03
  So what can we all do to prepare for?
• 43:06
  I mean, you talk about a possible depression again, and
• 43:09
  we were just talking about this. The last depression lasted 25
• 43:12
  years. So what do we do to prepare?
• 43:15
  Well, it's 25 years. It was a crash hit 1929, the
• 43:18
  stock market was 381. The Dow, it took till 19542025
• 43:24
  years to get to 381 again. So I'm just going by that, but
• 43:28
  that's why I said there's a currency war.
• 43:30
  There's a trade war and a shooting war.
• 43:32
  So it's a currency war right now.
• 43:34
  And so the US dollar is fake. Fake money they printed since
• 43:39
  1971 became the US dollar's debt.
• 43:42
  That's U.S. Treasuries and savings bonds and
• 43:44
  all that garbage. I don't touch it.
• 43:46
  But anyway, so I that's why I said bye today.
• 43:48
  The biggest bargain is silver. The gold went past $3000 all
• 43:54
  time high. Bitcoin I think is an $84,000
• 43:59
  and silver is still 60% below its all time high.
• 44:03
  So silver is the biggest bargain.
• 44:05
  It's used in every EV, it's used in solar, it's using electrical.
• 44:10
  The Tomahawk missiles carry I think 5 ounces of silver in it
• 44:14
  and all this. So silver is disappearing.
• 44:16
  Gold stays around, but silver is being consumed and I think it's
• 44:21
  all about $35 today. So I think everybody in the
• 44:24
  world can afford 35 bucks to buy 1 silver coin.
• 44:28
  But will they do that? No.
• 44:29
  They'll save the $35.00. So let's say you had this.
• 44:33
  You have the silver coin that you pay $35 for, or you have the
• 44:38
  $35. In 10 years this will be
• 44:41
  probably $70. It's going to take seventy of
• 44:43
  those dollars. And they call that inflation.
• 44:46
  It's not inflation is the purchasing power of your dollars
• 44:50
  going down. And so that's why the poor, the
• 44:52
  middle classic get wiped out. And I'll say it again.
• 44:55
  Why don't those damn school teachers teach that?
• 44:57
  What's wrong with those guys? You know, that's why Trump is
• 45:00
  setting down, shutting down the Department of Education.
• 45:02
  I think it's a good thing do. You think it's possible to?
• 45:05
  I mean, you've set out to change the way the world sees money and
• 45:09
  you've made a 4050 million person impact on that.
• 45:12
  But education schools still don't teach what you teach in
• 45:16
  financial industry. Do you think it's possible to to
• 45:18
  change that? No, 'cause we're Marxist and
• 45:21
  they're not bad people. Get me wrong.
• 45:22
  My poor dad was Marxist. My rich dad was a capitalist.
• 45:27
  Again, a Marxist believes in labor unions, workers of the
• 45:30
  world unite. My poor dad had the teachers
• 45:33
  union. Marxist believe in taxation.
• 45:35
  A graduate income tax is essential for the spread of
• 45:39
  communist. One more thing what Stalin said
• 45:43
  is that it's not who votes that counts, it's who counts the
• 45:47
  votes. So look at it.
• 45:48
  Look at Arizona here today at Katie Hobbs.
• 45:52
  She was supposed to be watching the ballots, but she was, I
• 45:55
  think she was whatever she was, but she got elected.
• 45:58
  Nobody, she was watching kind of the votes.
• 46:01
  And so we're so corrupt now. Then they use law fair against,
• 46:04
  you know, they'd sue him for all this stuff.
• 46:06
  And those are a Supreme Court is used against us now and the FBI
• 46:12
  is corrupt. So something's really rotten in
• 46:15
  Denmark. You know what I mean?
• 46:16
  It's rotten here. So that's why I just as a
• 46:19
  private citizen, like I'm going to protect me for as my family.
• 46:22
  But I would save silver first, you know, silver coins, 35
• 46:26
  bucks, you can't afford that. You got bigger problems.
• 46:30
  So what, I haven't checked the stock market in a few days, but
• 46:33
  we had a couple pretty big pullbacks pretty recently.
• 46:37
  I think. What was it down like 20%?
• 46:39
  Yeah, over a couple days, which is pretty big.
• 46:42
  How I mean, obviously you're talking about the everything
• 46:45
  crash we're seeing softening in prices in real estate,
• 46:47
  especially in the commercial market.
• 46:50
  Among certain asset classes like office, you know, multifamily
• 46:54
  has some higher vacancies, storage has some higher
• 46:57
  vacancies, but different asset classes are stronger than
• 46:59
  others. And of course it's regionally
• 47:01
  specific as well. But a gold is still at all time
• 47:04
  high. Silver you said is a good
• 47:05
  discount. Bitcoins pulled back over 20% of
• 47:08
  plus or minus What? Like if we're going to go into a
• 47:12
  depression and we're going to continue to see everything
• 47:14
  crash, what do you see as like a timeline for this happening?
• 47:17
  I know you can't, nobody has a magic ball.
• 47:20
  But do you see, do you feel like we're just entering it or do you
• 47:23
  feel like things are going to come down a lot more in pricing
• 47:25
  or because I've heard some economist say we're going to
• 47:28
  come down a lot more than I've heard other people say we're
• 47:30
  going to be bounced back and higher by the end of the year.
• 47:33
  So where do you fall into your opinion of if you did have a
• 47:37
  crystal ball? When I wrote this book, I was
• 47:39
  very happy. I said, you know, when it
• 47:41
  crashes, you look at the real estate market, like in, you
• 47:44
  know, the Biltmore Circle, there's 10 houses for sale.
• 47:48
  Nothing's moving. So that's good for the younger
• 47:50
  generation. But for my generation of
• 47:52
  boomers, you know, they say your house is your biggest asset.
• 47:55
  That's the biggest mistake. I say your house is not an
• 47:57
  asset. In rich debt, poor debt, house
• 47:59
  is a big liability. So the baby boomers, my
• 48:02
  generation in 1974, there was an act called ERISA, Employee
• 48:08
  Employee Retirement Income Security Act.
• 48:10
  It's called the four O 1K. And so my generation is the
• 48:13
  first generation that has a four O 1K.
• 48:17
  My father's generation had a defined benefit plan.
• 48:22
  So the boomers are in serious trouble, Serious trouble
• 48:26
  because, you know, the stock market's down, let's say, 30%,
• 48:30
  but gold's up 30%. And why don't they teach us at
• 48:32
  school? Because gold is real money, as
• 48:36
  JP Morgan says, You know, gold is money.
• 48:38
  Everything else is debt, credit. And so this whole economy
• 48:42
  worldwide is floating on debt. China's in serious trouble.
• 48:47
  And so that's why I watched said, are we going to another
• 48:49
  war? America has not won a war since
• 48:52
  Vietnam, Afghanistan, Ukraine. I mean, you know, that guy
• 48:57
  Biden, what a criminal he was. He was in there doing deals with
• 49:01
  the Ukrainians and all this stuff.
• 49:03
  And you know, and Trump, I know it's a good friend of mine.
• 49:06
  He's very anti war. You know he's trying to stop it
• 49:09
  right now. Do you think that tariffs are?
• 49:13
  What's your opinion of the tariffs?
• 49:14
  Do you think it's a smart move as fast as they're implementing
• 49:17
  them or or no? Well, tariffs attacks and it's
• 49:20
  and it's I don't know what you know, Donald hasn't called me,
• 49:24
  but I look at it and I go, you see what's happening in China
• 49:28
  because of the terrorists, all these factories shut down South,
• 49:32
  hundreds of thousands of people unemployed, plus their real
• 49:36
  estate, real estate markets collapsing in China and their
• 49:40
  deaths going through the roof. The same things happening in
• 49:43
  Europe. So this is the first time in
• 49:45
  history you have the three powers.
• 49:48
  Like even when there was Japan was the major power.
• 49:51
  Japan is debt to GD. PS I think like almost 200%
• 49:55
  something like that. Germany's in serious trouble
• 49:58
  because they went green and their electricity got too
• 50:01
  expensive so they can't produce cars.
• 50:05
  So their cost of production went too high because the greenies,
• 50:09
  you know, the green youth scam took over and they went liberal
• 50:12
  commie pinko. And America, you know, we have
• 50:16
  biggest debtor nation in the world.
• 50:19
  And you know, Biden put that up with Inflation Reduction Act.
• 50:23
  It was a spending bill. He spent more money.
• 50:26
  And Trump's got doge, who's hated.
• 50:29
  Trump is hated because he and Musk are trying to cut down, get
• 50:33
  that debt down. But Biden adds it up and all the
• 50:36
  liberals love him. And he can be a liberal and all
• 50:39
  this stuff. And I know people hate Trump,
• 50:42
  but he's this very smart man, you know, and I wrote two books
• 50:45
  together. So he's, he's a good man.
• 50:48
  His kids, his two boys, Don Junior and Eric, very good
• 50:51
  friends of mine, very, very good kids, you know, like a story I
• 50:55
  tell. We were hunters.
• 50:57
  So we've haunted together on this private island in Hawaii.
• 51:01
  There's no running water, no toilets.
• 51:03
  And you get to know some guys pretty closely sleeping on the
• 51:06
  bug sands and all this stuff. We have to eat what we kill.
• 51:10
  They don't nothing. They don't, they don't, they
• 51:12
  don't cry, don't whimper and all this stuff.
• 51:14
  We're hunting in upstate New York and went past this little
• 51:17
  restaurant and we walked in and there's a little roadside stand.
• 51:21
  I think it was full of illegals in the that, you know, washing
• 51:25
  dishes and all this. Both Don and Eric went in the
• 51:28
  back and shook all their hands. They're good young man.
• 51:32
  He look at Hunter Biden, the FBI loses his laptop and he he has
• 51:37
  to get a pardon from his father. What kind of family was the
• 51:40
  Biden family? And look at Kamala.
• 51:42
  Oh my God, yeah. The borders are never got to the
• 51:46
  border. You know, they open and Trump
• 51:49
  put a wall up. Biden took it down.
• 51:51
  Illegal, streamed across. Yeah, that's another thing, you
• 51:55
  know, I, we do flips and stuff. My best friend's a big flipper
• 51:58
  in town and she said, oh, like, I haven't heard from, you know,
• 52:02
  so and so from her crew. And then she found out that
• 52:04
  they're getting deported. So it's just another another
• 52:09
  layer of volatility, I guess if we're having tariffs and the the
• 52:14
  price of construction going up and then if our labor cost goes
• 52:18
  up, I think overall in the long term, I'm sure there's a good
• 52:21
  plan that's far above my pay grade of how I understand how it
• 52:24
  all works. But there's there's a lot of
• 52:27
  disruption in the the interim because there's a lot of change
• 52:30
  happening. And yeah, so how do people best
• 52:34
  if how do people best prepare for the opportunities that are
• 52:38
  coming in the market as far as these discounts on real estate,
• 52:41
  these discounts on Bitcoin and stocks?
• 52:43
  And you know, how do we proceed with caution?
• 52:47
  My audience is entrepreneurs, real estate investors.
• 52:50
  Some of them are complete entrepreneurs, some of them are
• 52:53
  solo solopreneurs, some of them are high level doctors or
• 52:57
  executives that invest in real estate.
• 52:59
  How do you recommend they prepare to take advantage of the
• 53:02
  opportunities in today's market? And, you know, proceed with
• 53:06
  caution, but don't be fearful and miss out on the opportunity
• 53:09
  because we were just over here driving over here and you're
• 53:11
  like, most people can't sleep because they're losing money.
• 53:15
  I can't sleep because I'm so excited, right?
• 53:19
  So excited. So yeah.
• 53:20
  What's your advice on that on how to best take advantage of
• 53:24
  the opportunities in the market? Well #1 figure out who you are.
• 53:27
  If you're an employee you know yourself.
• 53:30
  Talk is going I need job security, I need a steady
• 53:32
  paycheck and all that. It's a trap.
• 53:34
  If you're an S, you know, ES self-employed your your mantra
• 53:39
  is you want it done right, Do it by yourself on the B side, which
• 53:42
  is big business, 500 employees or more.
• 53:45
  And I stands for insider. I'm an insider.
• 53:48
  So I had to make a decision when I was getting out of the Marine
• 53:51
  Corps. I wanted to go on the B and the
• 53:53
  I side. My mom and dad want to be E&S.
• 53:57
  So you've got to decide what you want to be when you grow up, you
• 54:00
  know. But the other thing too is who
• 54:02
  you take advice from. You know, I was blessed.
• 54:04
  I had a poor dad. I had a rich dad.
• 54:07
  One's a Marxist, 1's a capitalist, good men.
• 54:10
  But my rich dad was telling me what I had to study.
• 54:13
  And my rich, my poor dad was also to get your PhD and fly for
• 54:17
  United Airlines. And then my rich dad will teach
• 54:19
  me how not to pay taxes. And my rich, my poor dad saying,
• 54:23
  well, you go pay taxes, then he'll also say, well, the rich
• 54:26
  are stealing from the poor. It's not true.
• 54:30
  You know who's stealing from the poor are guys like Obama and
• 54:33
  Biden. You know what Obama did?
• 54:35
  He pushed with that student loan program.
• 54:38
  And I was, I was so Obama's from Hawaii, you know, so pissed when
• 54:43
  he did that because the student loan program is meant for poor
• 54:46
  kids to the rich kids. My friends like Kenny's kids and
• 54:49
  all, they go to the college, their parents pay for them.
• 54:51
  But if you're a poor little class kid right now, student
• 54:55
  loan debts $1.6 trillion. OK now doesn't sound like much,
• 55:01
  but if you if you paid back a dollar a minute it would take
• 55:05
  you 32,000 years to pay off a trillion dollars.
• 55:08
  Oh my God. So these kids are coming out
• 55:11
  now. The poor kids are 1.6 trillion
• 55:13
  in debt and that's the worst kind of debt because you can't
• 55:17
  bankrupt out of it. It's non forgivable debt.
• 55:21
  Plus it's got a high interest rate and it accumulates
• 55:24
  retroactive. So Obama basically FT the poor
• 55:29
  kids and poor families and they all got a college degree.
• 55:32
  Now why did Obama do that? Because the teachers union wants
• 55:36
  to make more money. So Harvard, Stanford and all
• 55:39
  that, if we get student loan debt, we can charge more money
• 55:43
  to the kids. They're the biggest.
• 55:45
  I'm not a Republican or Democrat, but I watch what a
• 55:47
  person does more than what they say.
• 55:49
  Again, you know, Trump put a wall up, Biden takes it down.
• 55:53
  You know, Obama puts kids in student loan debt.
• 55:56
  The other thing that Obama started was DEI diversity,
• 56:00
  equity inclusion. The reason he did that because
• 56:03
  he's a black guy and they actually came out with, they
• 56:06
  call that affirmative action in the 60s.
• 56:08
  And so when they when when he got elected that there's not
• 56:13
  that many black people. I mean, there's the plenty, but
• 56:15
  there's not that. So Obama created DEI diverse to
• 56:19
  equity inclusion so that they could include more people.
• 56:22
  So if you were from Venezuela, you crossed the border
• 56:25
  illegally, said, oh, you're oppressed by the white guys, you
• 56:29
  know, so they needed to increase their numbers.
• 56:32
  So it couldn't just be for blacks.
• 56:34
  It had to be somebody who was non white male.
• 56:37
  That's Marxism, that's pure. You create victims and a class
• 56:42
  structure, that's pure Marxism. So I studied Marxism at the
• 56:47
  Academy and going wow. So why don't our school teach us
• 56:51
  this? Why don't they, Why don't they
• 56:52
  read the Communist Manifesto? You know, why don't we study
• 56:56
  money? But we, we, we teach Keynesian
• 56:59
  economics in school and Keynesian is pretty close to
• 57:03
  Marxist, but they don't teach that because our school teachers
• 57:07
  are Marxist at the heart. Abolition of private property.
• 57:12
  The rich ripped people off, you know, the bourgeoisie and the
• 57:14
  proletariat, the bourgeoisie of the capitalists.
• 57:19
  Paula Terry at the working class.
• 57:21
  So they create victims out there.
• 57:23
  Do you think it's for the next generation, for millennials and
• 57:26
  Gen. Z out there?
• 57:28
  I think there's even another generation now.
• 57:30
  Do you think it's and with AI and all the different technology
• 57:34
  that's coming out, do you think it's a waste of time to go to
• 57:37
  the traditional school? And do you think it should be
• 57:39
  better to be self-taught in entrepreneurship and or what?
• 57:43
  What's your stance on that? Well, it depends on what you
• 57:46
  want to learn. Like if I want to fly for the
• 57:48
  airlines, you know, a good way to do that is go fly for the
• 57:51
  military, you know, And if you're going to be a doctor,
• 57:54
  well, then you should study chemistry and all those other
• 57:57
  things. So it depends on what your
• 57:59
  ambitions are. But what's happening to young
• 58:02
  kids today? They they come out with this a
• 58:05
  degree in homosexual tendencies or whatever it is, and they got
• 58:09
  student loan debt and nobody wants to hire them because
• 58:11
  they're not worth anything. They've studied a subject that's
• 58:14
  not valuable. So, so many kids are going to
• 58:17
  school learning a subject that nobody values.
• 58:20
  There's no use for it, you know what I mean?
• 58:23
  And they just loaded with debt and you go, well, I have a
• 58:26
  college degree. What's it in?
• 58:27
  Well, it's underwater basket weaving.
• 58:29
  Well, that's really important, you know.
• 58:31
  So again, it goes to skill sets, what skills you want, what
• 58:34
  experience you want and who are your teachers.
• 58:36
  Those are the main things. When I was in Sunday school and
• 58:39
  I was like 7 years old, the teacher asked, you know, she
• 58:41
  goes, why were the wise men wise?
• 58:44
  And I raised my hand and said, because you're rich.
• 58:46
  She goes on, no, because, you know, church.
• 58:48
  They hate rich guys, the Methodist Church.
• 58:52
  But anyway, she says, why do you say they were rich?
• 58:55
  I said one day when they came to see Jesus, they came with gold.
• 58:59
  That's rich, expensive frankincense and myrrh, that
• 59:02
  stuff's expensive. And my little school, she looked
• 59:05
  at me, she goes, that's not it. But she had a good answer and
• 59:08
  said, why were they rich? She says they sought the best
• 59:12
  teacher. And so not pumping Christianity,
• 59:14
  you know, you can study Buddhism and into what you want, but
• 59:18
  they're looking for Christ. And so that's what I like about
• 59:21
  YouTube. There's a lot of flakes on the
• 59:23
  thing, but there's some really smart people on YouTube and they
• 59:27
  teach for free. So all this DEI woke crap and
• 59:31
  all this stuff and victim and white guys are the problem.
• 59:34
  That's the biggest crap. YouTube's free.
• 59:36
  Yeah, it's amazing. And that's why I do the show,
• 59:38
  because I wanted something like this.
• 59:41
  I wish I had something like this growing up to.
• 59:43
  Share your. Yep, and it's it's amazing.
• 59:46
  I mean, all I had your book, thank God, but I can't imagine
• 59:48
  being raised even before that when we had such little limited
• 59:52
  resources. Like you probably didn't have a
• 59:54
  lot of resources to learn a bunch of different topics pretty
• 59:57
  quickly other than books, right? Now I was, I had mentors.
• 1:00:01
  Yeah, I've had a number of rich dads.
• 1:00:04
  So first with my rich dad, then I want to learn how to take
• 1:00:06
  companies public. Like I don't own shots.
• 1:00:10
  I don't own stocks. But I sell stocks, so I've taken
• 1:00:14
  three companies public now through IP OS.
• 1:00:17
  So I took a company public on Toronto Stock Exchange and then
• 1:00:21
  NASDAQ and then New York Stock Exchange.
• 1:00:24
  So your goals change as AB and the i.e.
• 1:00:26
  SBII said what do you want to do with your life?
• 1:00:30
  I said I want to take companies public through an IPO.
• 1:00:33
  That's what Musk does. And all that, you know, Musk,
• 1:00:36
  borrow all that money. You already paid all that money
• 1:00:38
  back and they're attacking him because he borrowed all this
• 1:00:41
  money from the government. He's already paid it back with
• 1:00:43
  interest. And so our academics is the one
• 1:00:47
  of the worst people of my poor dad used to have labor union
• 1:00:50
  meetings, teachers union meetings at our house.
• 1:00:53
  I want to puke. They didn't talk about quality
• 1:00:56
  of education. The teachers were bitching that
• 1:00:59
  didn't get paid enough. They wanted more time off and
• 1:01:02
  benefits. That's what they wanted.
• 1:01:05
  It wasn't about education. What companies have you taken in
• 1:01:08
  public? All gold companies.
• 1:01:10
  Gold Companies. Well, next one is going to be a
• 1:01:13
  can't remember the name of it now, but it's a for the EVs,
• 1:01:17
  It's a, it's a, it's another mineral.
• 1:01:21
  And you know, I, I also invest in cattle.
• 1:01:23
  I can see, touch and feel cattle.
• 1:01:25
  I don't want stocks. I sell stocks, but I own the
• 1:01:29
  company which selling sharehold and I don't want oil wells.
• 1:01:34
  I want commodities, you know, stuff that are real.
• 1:01:36
  But it's over time. I just saw, you know, I find AI
• 1:01:40
  find friends like my friends in the why goo cattle business.
• 1:01:44
  I said why, why goo cattle? He says because rich people buy
• 1:01:47
  it. You say no matter how bad the
• 1:01:50
  economy gets, the ritual always have money.
• 1:01:53
  So I said why, why goo? He says, well, it's expensive,
• 1:01:56
  so good he doesn't kill the cattle.
• 1:01:59
  What does he do? He just raises them and sells
• 1:02:01
  them. He gets the balls and he sells
• 1:02:03
  her semen. Oh, nice.
• 1:02:07
  Yeah, it's like a stud service that's common in the horse
• 1:02:10
  business. Too.
• 1:02:10
  Yeah, I want to do the same thing.
• 1:02:12
  I want to be a stud, you know? Yeah, sell your semen.
• 1:02:15
  So there's so many ways you can make money as capitalist, but
• 1:02:18
  when they sell, you go to school, get a job and invest in
• 1:02:20
  the stock market in stocks, bonds, mutual funds and ETFs.
• 1:02:25
  Yeah, I don't save dollars. I save gold, silver, Bitcoin.
• 1:02:28
  So in these companies that you're taking public or you're
• 1:02:30
  invested in on the you're selling shares, you're owner of
• 1:02:33
  the company, are you getting in like pre IPO into these
• 1:02:35
  opportunities? The I I stands for insider ESPI.
• 1:02:39
  I'm an insider at all my with Kenny's deals, Ken McElroy, I'm
• 1:02:43
  an insider. If you buy a stock, bond, mutual
• 1:02:46
  fund, you're an outsider. Not for me.
• 1:02:49
  Yeah, I'm a capitalist. Well, and you do it the right
• 1:02:52
  way because you're an insider, you get the best opportunities,
• 1:02:54
  you get the first look, you get the lion's share and you don't
• 1:02:57
  have to operate it's but you'll. Have to take the biggest risk,
• 1:03:00
  you know. Yeah, yeah.
• 1:03:01
  But. Again, I'm invited in there
• 1:03:03
  because I can raise capital. Yeah.
• 1:03:05
  You know, they they wouldn't invite my employees and they're
• 1:03:08
  because they can't do anything. And if I have a if a master's
• 1:03:11
  degree in underwater basket raving, they don't need you.
• 1:03:16
  But, but I got a master's degree, he said.
• 1:03:17
  Then what? So I tell most young people take
• 1:03:19
  a course in bookkeeping, you know, go to the local junior
• 1:03:22
  college or something. Take up a course in bookkeeping
• 1:03:25
  because you gotta keep your numbers in order.
• 1:03:27
  Not that hard. Yeah.
• 1:03:29
  So let's talk about debt. Obviously, I have a lending
• 1:03:33
  company for real estate and a fund that I haven't officially
• 1:03:38
  really started growing or anything, but I have the fund
• 1:03:40
  filed with the SEC. So you always talk about how
• 1:03:44
  much debt are you in? 1.2 Bill. $1.2 billion in debt
• 1:03:49
  and why? Because debt is money.
• 1:03:52
  You know, my my rich dad used to say to me, he says, you know, my
• 1:03:55
  poor dad always said get out of debt.
• 1:03:57
  Dave Ramsey says get out of debt.
• 1:03:59
  My rich dad says only lazy people use their own money.
• 1:04:02
  Your job is to borrow money. Another thing is that real
• 1:04:05
  estate, the purpose of buying real estate, the purpose of
• 1:04:08
  being an entrepreneur is to buy the real estate.
• 1:04:11
  So that's why I have I have Rich Dad as a company of other
• 1:04:13
  companies, but where I was buying real estate because we
• 1:04:16
  use debt and we pay no tax legally.
• 1:04:19
  That's what Tom Wheelwright Tax free wealth.
• 1:04:21
  Tax free wealth. Tom Wheelwright.
• 1:04:23
  Get the book. I actually talked to his team a
• 1:04:27
  couple weeks ago about my taxes. Yeah, they're they're awesome.
• 1:04:30
  They're sharp, aren't? They yeah.
• 1:04:32
  So $1.2 billion in debt and it's good debt and you talk about in
• 1:04:36
  the Rich Dad principles that good debt puts money in your
• 1:04:39
  pocket. You use other people's money to
• 1:04:41
  create more value essentially and to create cash flow and
• 1:04:45
  financial freedom. Bad debt takes money out of your
• 1:04:47
  pocket like a primary residence. You pay in a mortgage every
• 1:04:50
  single month, but it's not paying you, right?
• 1:04:52
  You may get appreciation over the long run, but if you your
• 1:04:55
  philosophy is if you would have saved that money and invested
• 1:04:58
  into an asset, that actually puts money in your pocket
• 1:05:01
  instead of a liability. Because renting your home is no
• 1:05:04
  different than paying and mortgage if you're using that
• 1:05:05
  money to invest in assets. And the the key to real estate,
• 1:05:09
  multifamily jobs. If jobs are increasing, real
• 1:05:14
  estate goes up. If right now, millions of people
• 1:05:17
  being fired, like Washington DC, people are losing their jobs,
• 1:05:21
  real estate goes down. So how?
• 1:05:23
  Cuz that's my biggest fear, right, is I'm a real estate
• 1:05:25
  investor and an entrepreneur and I happen to be in the business
• 1:05:28
  of real estate as well as invest in it.
• 1:05:30
  I still have the fear of of underwriting assets or
• 1:05:34
  investment opportunities in unpredictable times, which all
• 1:05:39
  times are unpredictable technically because we don't
• 1:05:41
  really know what's going to happen at any point.
• 1:05:43
  We think our pro forma is predicting, but we really don't
• 1:05:46
  know. So how do you because good debt
• 1:05:49
  can also get upside down. For instance, right now there's
• 1:05:53
  some people that are upside down who bought multi family or other
• 1:05:57
  commercial properties at very low cap rates.
• 1:06:00
  So paid a high valuation for them at very low interest rates
• 1:06:03
  on very short term fixed debt. So how do you have $1.2 billion
• 1:06:10
  in debt and still be able to like sleep well at night and
• 1:06:13
  know that your debt is never going to go underwater?
• 1:06:15
  Like how have you been able to make those right investment
• 1:06:18
  decisions without knowing that rates are going to double pretty
• 1:06:22
  much overnight like they did? Well, that's why I say when I
• 1:06:25
  ask people, what sport did you play?
• 1:06:28
  If they're team sports, most entrepreneurs have to have a
• 1:06:31
  good team. So like Kenny has a fabulous
• 1:06:34
  team, you know, I talk to him all the time and all this.
• 1:06:38
  And so in Kenny's property management, the key to real is
• 1:06:41
  that you know, is property management.
• 1:06:43
  So if they manage it well and keep it filled, keep it, you
• 1:06:46
  know, nice and all this stuff, it works.
• 1:06:49
  So for Kenny and I, our job is I just gave him two million, 2.75
• 1:06:54
  million two months ago, you know, but I'm going to get that
• 1:06:57
  money back through debt. I'm 100% in debt.
• 1:07:00
  That's called an infinite return.
• 1:07:02
  Now, do I recommend it? Please don't do that.
• 1:07:05
  You know, don't do this at home unless you practice a lot.
• 1:07:08
  But then it goes back to my rich dad.
• 1:07:10
  He says if you're going to be a rich, you have to know how to
• 1:07:13
  sell, you have to learn how to use debt and you have to be able
• 1:07:17
  to raise capital. Yeah.
• 1:07:19
  So ultimately comes back to the strength of the operator, which
• 1:07:23
  is Kenny. And he has the team, he has the
• 1:07:25
  resources, he has the knowledge, the experience and the character
• 1:07:28
  to where he's getting in at such a low basis or entry point that
• 1:07:32
  even if a crazy catastrophic type event like interest rates
• 1:07:36
  doubling very rapidly, he already has a he got it at a
• 1:07:39
  very good basis where he has room or he has the team in place
• 1:07:42
  to be able to recapitalize the asset, raise more money and
• 1:07:46
  ultimately not ever go underwater.
• 1:07:48
  Well, my your profits made when you buy.
• 1:07:52
  So he's happened with Kennywood was a San Antonio project.
• 1:07:57
  The reason it was good it was next to a big hospital, but the
• 1:08:01
  owner had let the thing run down.
• 1:08:03
  So because it was next to a hospital, there was always
• 1:08:07
  employees for it's a big, big, big insurance company hospital.
• 1:08:11
  So he went in there and then you know we found the there was a
• 1:08:14
  toilet sitting in front of the fireplace and all the wire had
• 1:08:17
  been ripped out and it was a mess.
• 1:08:20
  I look at like this and K look at his builders build.
• 1:08:23
  This is no problem. You know I mean I can fix this.
• 1:08:26
  So we took that built that up refight got the NOY net
• 1:08:30
  operating income up refight out got all my money back as debt
• 1:08:34
  pay no tax legally. So as long as the acid is
• 1:08:38
  strong, that's like gold. If you have real physical gold
• 1:08:41
  is strong. You know you know what his value
• 1:08:43
  is day-to-day, same as silver Bitcoin.
• 1:08:46
  I love, you know, because it's so easy to get rich with
• 1:08:49
  Bitcoin. I was for my generation was real
• 1:08:52
  estate for your generation is Bitcoin, you know.
• 1:08:56
  Do you think for for my generation, like what's the
• 1:08:59
  asset allocation, right? If I have $1,000,000, what's the
• 1:09:02
  asset allocation of what do I keep as cash?
• 1:09:04
  What do I invest as bit in Bitcoin, gold, silver?
• 1:09:07
  What do I invest in real estate? What do I invest back into my
• 1:09:10
  own education and myself? What would you recommend as far
• 1:09:13
  as asset allocation if you if you have whatever amount of
• 1:09:16
  money? Well, it depends on what the
• 1:09:18
  asset is at that moment, right? Now.
• 1:09:21
  Well, sometimes, you know, like when Kenny came up with this
• 1:09:24
  through two projects, three projects.
• 1:09:27
  So I took 2.75 million, that was 3 projects million, $1,750,000.
• 1:09:33
  So I cashed in my gold and I, I gave it to Kenny as a down
• 1:09:38
  payment knowing I'm going to get my money back.
• 1:09:41
  I'm going to buy my gold back. Yeah.
• 1:09:43
  So I know my, I have my, I know my cash flow.
• 1:09:47
  That's why a board game is called cash flow.
• 1:09:49
  It's the only game that teaches you, you know, finance better
• 1:09:53
  than Monopoly. But it's just a matter of
• 1:09:56
  training your brain. And after a while you go, why,
• 1:09:58
  why isn't everybody doing this? You know, like right now with
• 1:10:01
  commercial real estate, I think there's 32 Empire State
• 1:10:04
  Buildings empty. No way.
• 1:10:06
  Yeah, office buildings. Wow.
• 1:10:09
  So that happened with COVID, you know, people start coming to
• 1:10:12
  work. Are you talking about in
• 1:10:13
  Manhattan in? Yeah.
• 1:10:14
  All around, yeah. Yeah, yeah.
• 1:10:16
  Yeah, equivalent. But that's why Trump says you
• 1:10:18
  have to go to work. I mean, what a novel idea.
• 1:10:21
  You have to go back to work. All these office buildings need
• 1:10:23
  to be filled. Well, my company, they didn't
• 1:10:26
  want to come to work. Yeah.
• 1:10:29
  So it got worse and worse and worse and worse.
• 1:10:30
  I said, why am I paying you then?
• 1:10:32
  You know, So unfortunately good people and all that, but I
• 1:10:36
  didn't need them, move them on or good people.
• 1:10:38
  They just had a different attitude.
• 1:10:40
  Yeah, how? How many people did you have at
• 1:10:42
  your organization at one at your peak?
• 1:10:46
  Well, it depends on what business, but the risk tech
• 1:10:47
  company was about 12 people. So you always ran pretty, pretty
• 1:10:51
  lean. Yeah, well, the reason is, is
• 1:10:53
  because with the ESB and I, most of my employees were with Amazon
• 1:11:00
  or bookstores. Yeah.
• 1:11:02
  So when I develop a book, it pumps out through thousands of
• 1:11:06
  bookstores across the world and through Amazon.
• 1:11:09
  That's nice. I want to, I always, I'm
• 1:11:11
  thinking about that too is like parts of me want to build a
• 1:11:14
  billion dollar company, right? That's just because I'm, I'm me.
• 1:11:18
  I want to create a billion dollars worth of value and have
• 1:11:21
  a billion dollar organization. And then other parts of me, like
• 1:11:23
  this morning, I'm in an EOS meeting and I'm going through KP
• 1:11:26
  is and metrics and all this stuff.
• 1:11:28
  And I'm like, this is the part I hate about entrepreneurship and
• 1:11:31
  thinking about my team and how to motivate my team and leave my
• 1:11:33
  team. And that's what a great leader
• 1:11:35
  does, right? But then it's that ebb and flow
• 1:11:37
  of like we talked about this. I was telling you about
• 1:11:39
  impossible goals after I read Ben Hardy's new book, The
• 1:11:42
  Science of Scaling. And we talked about what's the
• 1:11:46
  real point of the goal. And the you told me that a goal
• 1:11:53
  is like a rock that you drop in water.
• 1:11:55
  And it's not the rock that it really is important.
• 1:11:57
  It's the ripples in the water, It's the impact.
• 1:12:00
  And I literally have been thinking about, it hasn't been
• 1:12:03
  out of my head since you told that to me.
• 1:12:05
  And I'm like, because the billion dollars isn't what
• 1:12:08
  matters. It has nothing to do.
• 1:12:09
  It's what is the impact. The ripple effect.
• 1:12:11
  The ripple effect that I can create from whether it's a
• 1:12:14
  billion or 100 million or what any amount of money, a million,
• 1:12:17
  any, any goal that somebody could possibly have for their
• 1:12:20
  business or their life. What is the impact that it's
• 1:12:23
  creating? And so I've been thinking about
• 1:12:24
  that as like, what is the real goal that matters and what is
• 1:12:28
  the impact that's created from that goal?
• 1:12:30
  So like what kind of impact do I want to have?
• 1:12:32
  And can you share that story about you said that this is the
• 1:12:36
  impact when you were, where were you in, in Vietnam area or a
• 1:12:41
  couple weeks ago when you were touring the war sites and
• 1:12:45
  someone came up to you on an island with all the kids and had
• 1:12:48
  your cash flow game. Can you share that story?
• 1:12:50
  Yeah, this is in Palau. It's a Palau is a mountaintop
• 1:12:54
  that's surrounded by water. And they saw the, it's
• 1:12:58
  interesting that they look like little mountains or little
• 1:13:01
  islands. And they're all, they're cute,
• 1:13:04
  you know? And so this one island has 33
• 1:13:07
  people on it and this woman comes up to me, says I have your
• 1:13:10
  cash flow board game. I am teaching my island friends
• 1:13:16
  how to be, you know, how to take care of their money.
• 1:13:19
  That was the best thing ever happened to me.
• 1:13:21
  I just almost cried, you know, almost cried because I created
• 1:13:25
  the game to teach what our schools do not teach.
• 1:13:28
  And like, cash flow game came on 96.
• 1:13:32
  I couldn't sell it. So that's why I want rich dad,
• 1:13:34
  poor dad. So I became more famous for rich
• 1:13:37
  dad, poor dad. But the purpose was to sell the
• 1:13:39
  game. And so that's the ripple effect.
• 1:13:42
  Muscle Island in Palau, 33 people, this one cash flow came
• 1:13:46
  out. There went.
• 1:13:47
  That's just my heart. You know, my mission is to
• 1:13:49
  elevate the financial well-being of Hawaii, of humanity.
• 1:13:52
  And I'm fighting the school systems all the time.
• 1:13:55
  Yeah. Yeah.
• 1:13:56
  And so that really hit home. It really struck A chord with me
• 1:13:59
  as it's like, it's not the 40 million books that matters, it's
• 1:14:03
  the ripple effect and those that family, that woman coming up to
• 1:14:07
  you on an island of 33 people and you having changed her life.
• 1:14:12
  And I think that is what's so profound.
• 1:14:15
  It's like, what kind of impact do you want to have?
• 1:14:17
  And you're still going. I mean, you're, you've been
• 1:14:20
  doing this for decades and decades and decades and you're
• 1:14:23
  still traveling the world teaching people financial
• 1:14:27
  intelligence and how to have financial freedom so they don't
• 1:14:29
  have to be born in the into the doctrine of go to school, get a
• 1:14:34
  job, pay your bills and. That's the stock market, yeah.
• 1:14:37
  I mean, you can. You can if you want, but I like
• 1:14:40
  real estate and I use debt more and I don't want to pay taxes.
• 1:14:43
  I'm not a communist, that's why. What was rock bottom for you in
• 1:14:47
  your life? Looking back, I know you've
• 1:14:49
  probably had many moments, but I really want to dive into like
• 1:14:52
  what? Where was this moment in your
• 1:14:54
  life where you considered giving up?
• 1:14:57
  Or like, where was this rock bottom for you?
• 1:14:59
  Well, it's like I said when those guys ran off with my
• 1:15:01
  money, Stanley and John and I was in.
• 1:15:05
  So I was still selling. So I went to Chicago and I was
• 1:15:09
  in the shores of Lake MI on Chicago at a Howard Johnson's
• 1:15:14
  and life went out. I just said what have I done?
• 1:15:17
  You know, I've lost, I lost my my father's house was behind
• 1:15:21
  that 100,000 I was going to lose my father's house and I was the
• 1:15:25
  worst, you know, and my best friend again, Larry and the guy
• 1:15:28
  at the Mormon who could sell Catholics.
• 1:15:31
  He was in New York City because his brother was John Lennon in
• 1:15:34
  Beatlemania. So I still remember lying in
• 1:15:36
  this hotel room. I didn't I couldn't, I didn't, I
• 1:15:38
  was going to get out of the I didn't have money to pay the
• 1:15:40
  hotel bill and I just called Larry.
• 1:15:43
  He goes, what's the matter with you?
• 1:15:48
  What's the matter with you? I was my life was draining out
• 1:15:53
  life force. He says, where you at?
• 1:15:55
  And I said, I'm at the Howard Johnson.
• 1:15:58
  I was dying. Is he wait?
• 1:16:00
  So a couple hours later, he flies over from New York, walks
• 1:16:04
  into my room and he goes, what's the matter?
• 1:16:05
  I said, I've lost my father's money.
• 1:16:08
  I lost my father's house. I, I don't know how I'm going to
• 1:16:11
  pay it back and all this stuff. And Larry goes, oh, you poor
• 1:16:15
  thing, you're so, so sad. And he stood back and kicked me
• 1:16:19
  with all his money. He said, get the fuck up and get
• 1:16:23
  back to and what's the best thing?
• 1:16:25
  I said, OK, figure out how you're going to fix this.
• 1:16:28
  So it turned out better because I had to figure out how I was
• 1:16:30
  going to pay all that money back and all this.
• 1:16:32
  So I just invented another product and went out to sell.
• 1:16:35
  It's the skills that make you rich, not money.
• 1:16:38
  And his ass kicking was all you needed to get get it together.
• 1:16:41
  And that's. A friend, yeah.
• 1:16:43
  So, you know, he and I pushed each other along for years, but
• 1:16:46
  still, I was born April 8th. He's April 9th.
• 1:16:49
  And I'm April 10th. Yeah.
• 1:16:51
  Yeah. I still have to meet Larry.
• 1:16:53
  Yeah, he's out in the Big Island or Honolulu.
• 1:16:56
  No, no, he's on. He's in LA, in Hollywood, where
• 1:16:59
  he belongs. Oh.
• 1:17:01
  Yeah, he's he's a character though.
• 1:17:03
  Yeah. So what, what did that look like
• 1:17:05
  for you coming out of that? I mean, what, what business
• 1:17:08
  venture did you go into next? Like, when did you have your big
• 1:17:10
  break where you finally were Like, I got this, you know, I
• 1:17:13
  mean, yeah. Well, it was, you know, when you
• 1:17:16
  start looking again. So I was back in Honolulu.
• 1:17:19
  I don't know how I got home. I don't have any money.
• 1:17:20
  And I saw this 98 Rock. It was a radio station and there
• 1:17:25
  every bumper sticker, every Volkswagen surfer kid had 98
• 1:17:28
  Rock on it. So what is that thing?
• 1:17:31
  So I want to what is this is the hottest Rock'n'roll station
• 1:17:34
  going. So it was right across the
• 1:17:36
  street in downtown Honolulu. I go in there and knock on the
• 1:17:39
  door. This guy, Brian Beeler, I said,
• 1:17:41
  what is this 98 Rock? He says he had all.
• 1:17:45
  Brian was a marketing genius. He says rock'n'roll is the
• 1:17:49
  biggest thing. I said what?
• 1:17:51
  Back then it was disco, you know, the Bee Gees and all that
• 1:17:53
  stuff. He says Rock'n'roll is coming
• 1:17:55
  back. I went wow.
• 1:17:57
  So I asked Brian, I said, can I use your logo?
• 1:18:00
  98 Rock really hot. You know, I started still
• 1:18:04
  screening wallets and hats with 98 Rock on it.
• 1:18:07
  And so I was paying my way out of it barely, you know, And one
• 1:18:13
  day this guy came in, knocked on my door as I'm making my little
• 1:18:16
  98 Rock hats and wallets. He goes, he says I represent the
• 1:18:23
  police in the rock band. The police.
• 1:18:25
  He says, would you make products for us?
• 1:18:27
  So immediately I was in rock'n'roll.
• 1:18:29
  So I did Duran Duran, the Police, Van Halen, Boy George,
• 1:18:33
  Ted Nugent, and I was in the rock'n'roll business.
• 1:18:36
  And I didn't know that. Yeah, I was going to concerts
• 1:18:39
  all over the country, selling my rock'n'roll, my hat's wallets
• 1:18:42
  and bags and stuff like this, and that's how I got out.
• 1:18:46
  And that made money. Yeah, well, MTV came at the same
• 1:18:50
  time, so they all the, you know, the gods lined up.
• 1:18:55
  So I make them a little 98 rock wallets and stuff like this.
• 1:18:58
  It was red, black and white, you know, and this guy from he's
• 1:19:02
  from got a freaking name of them, But he he represented the
• 1:19:07
  police. He says, would you this new band
• 1:19:10
  coming out the call the police. I said wow, so there was every
• 1:19:14
  move sheet. How do you shift from that to
• 1:19:17
  becoming the best selling author in the world?
• 1:19:20
  I just started writing a book that was, I created the board,
• 1:19:23
  the board game cash flow. I'm a product guy, hard asset.
• 1:19:26
  Yeah. And, and the game wouldn't sell.
• 1:19:29
  So I just said I'd better write a book and sell the game.
• 1:19:32
  Distribution channel. So I wrote the book Rich Dad,
• 1:19:35
  Poor Dad, and my friend owned a car wash in Austin, TX.
• 1:19:41
  Nobody would buy my book either though.
• 1:19:42
  The publishers, you know, the book company said, you know what
• 1:19:45
  you're talking about, your house is not an asset.
• 1:19:47
  Savers are losers. You know, I can't say all that
• 1:19:49
  stuff said, well, so you know what you're talking about.
• 1:19:53
  So nobody would buy my book. And so I called my friend in
• 1:19:55
  Austin, TX, Keith Cunningham, and I said, can I put some books
• 1:19:59
  in your car wash? I had 1000 of them.
• 1:20:01
  He says we don't sell books in car washes.
• 1:20:03
  I said, yeah, I know that's good.
• 1:20:05
  I've no competition. He says if it doesn't sell,
• 1:20:07
  you're taking them back. I said I promise.
• 1:20:10
  So I put them in there. I put two dozen books in there.
• 1:20:12
  They didn't sell. They didn't sell.
• 1:20:13
  They didn't sell. And Keith kept calling me.
• 1:20:16
  He said, they're not selling. I said, OK, OK.
• 1:20:18
  And one day they're all gone. So I asked Keith.
• 1:20:21
  I said, you want to buy more? He says, no, we don't sell books
• 1:20:24
  at car wash. And then about a week later, I
• 1:20:27
  got this phone call from Dallas. He says, hi, my name is Bill
• 1:20:30
  Galvin. I said, yeah.
• 1:20:32
  He says, I bought your book. I said I bought all of them.
• 1:20:36
  I said, really? He says, how many you, how many
• 1:20:38
  more you got? I said 1000 -, 24.
• 1:20:41
  He says, I'll take them. I said, who are you?
• 1:20:43
  He says I'm with Amway and that's how the book took off.
• 1:20:47
  Wow. And we put it in there down line
• 1:20:50
  and we went international. Jeez.
• 1:20:53
  And then you. And then you got a call from
• 1:20:54
  Oprah. Then Oprah called and Trump
• 1:20:57
  called and. Oh my gosh, and how old were you
• 1:21:01
  when that happened? I don't know, it's 25 years ago,
• 1:21:03
  so probably 50. And would you say that was when
• 1:21:06
  you like really had exponential growth or were you already doing
• 1:21:09
  really well with your other? No, I was teaching.
• 1:21:11
  I was doing. I was learning how to public
• 1:21:13
  speak, so I was learning how to teach.
• 1:21:14
  Yeah. And so I just applied what I
• 1:21:17
  taught into my board game. Keith Cunningham.
• 1:21:20
  You were friends with Keith Cunningham?
• 1:21:22
  How'd you know him? Or like, yeah, how'd you guys
• 1:21:24
  meet? I don't even know.
• 1:21:25
  I mean, he's like, he's a long, tall Texan you.
• 1:21:30
  Know yeah, do. You know him.
• 1:21:32
  No, I just read. Read books.
• 1:21:34
  Right. He's an author.
• 1:21:36
  Yeah. That that same 1 Keith
• 1:21:38
  Cunningham. Yeah.
• 1:21:39
  You talk in some of your books about your biggest mentor
• 1:21:42
  growing up other than Rich Dad, But what's his name?
• 1:21:46
  Buck. Minister Fuller.
• 1:21:47
  Yeah. What's the greatest thing you
• 1:21:48
  learned from him? Buckminster Fuller was Bucky
• 1:21:52
  Fuller was a futurist, and he admitted the geodesic Dome.
• 1:21:57
  So in 1967, I hitchhiked from New York City to Montreal,
• 1:22:00
  Canada, just to see his Dome. You hitchhiked from New York to
• 1:22:05
  Montreal. Yeah, we had no money.
• 1:22:07
  I was in college, so we hitchhiked all of it.
• 1:22:09
  And I got in this Dome and I was going wow.
• 1:22:13
  And a few years later I meet him and he kicked my ass.
• 1:22:17
  He just kicked my ass. He said, what's your life?
• 1:22:20
  I was about, I was in a seminar with him in Lake Tahoe like you
• 1:22:24
  always in seminars. And he was, he was talking about
• 1:22:27
  the future of business. And so he said, oh, he was about
• 1:22:29
  86 at the time and he had very thick Coke like gas glasses.
• 1:22:33
  And I said, what's your life's purpose?
• 1:22:36
  And I said to make money. Biggest mistake.
• 1:22:38
  He screamed, how dare you. He says, what a waste of a mind.
• 1:22:44
  He says, anyway, so it came down, he scolded me.
• 1:22:47
  It was a week long seminar. I was hurting, you know, he
• 1:22:49
  goes, there's about 100 people in the room and he's scolding
• 1:22:53
  me. This great, the greatest genius
• 1:22:55
  on planet earth, you know, John Denver wrote what one man can do
• 1:22:59
  another Bucky. Bucky affected a lot of people
• 1:23:02
  and he's so finally Bucky turned to me.
• 1:23:05
  He says, why don't you do what God wants done?
• 1:23:08
  And I was hurting, you know, because he scolded me.
• 1:23:11
  I mean, really, he cut, cut right through me.
• 1:23:13
  Just all you want to do is make money for yourself.
• 1:23:15
  You want to do what you want to do.
• 1:23:17
  That's selfish. Hundreds of people are staring
• 1:23:20
  at me. You know, he says, ask yourself
• 1:23:22
  this, what does God want done? Look at that and do it.
• 1:23:25
  And so it took me a long time. What does God want done?
• 1:23:29
  But you look back, look back upon my history.
• 1:23:31
  I was always interested in money.
• 1:23:33
  So that's why I developed the cash flow board game and all
• 1:23:36
  that. What did you find out that God
• 1:23:37
  wants done? Financial Education.
• 1:23:39
  Impact and change the world What because.
• 1:23:42
  Why doesn't school teach this? Because they're Marxists.
• 1:23:46
  I'm a capitalist. What do you want your legacy to
• 1:23:51
  be like when someone, when someone thinks of your name or
• 1:23:54
  says your name, what do you want your legacy?
• 1:23:57
  Well. It's an interesting question
• 1:23:58
  because when you study success, you know, so I was fortunate,
• 1:24:04
  tons of mistakes, losing money and all this stuff and stepping,
• 1:24:07
  you know, falling down, standing up, achieve success.
• 1:24:10
  Then I achieved money and the ultimate was achieve fame and
• 1:24:15
  famous power. You know, their money, success
• 1:24:17
  and fame are false gods, but I'd rather have them or not have
• 1:24:21
  them. So no matter where I go today, I
• 1:24:24
  have fame and it's good. I could be famous for doing bad
• 1:24:28
  things. But you know, that song, I'm
• 1:24:30
  going to live forever. I'm going to learn how to fly.
• 1:24:34
  Fame. Listen to that song.
• 1:24:36
  I never wanted fame, but I haven't.
• 1:24:39
  I'm going, wow, it's interesting.
• 1:24:40
  And another thing is, and when people see me, they will cry.
• 1:24:45
  So I was just in Tokyo and I was Tokyo's in very bad shape
• 1:24:48
  because their debts gone, the yen's gone, and couples would
• 1:24:52
  come up to me and cry. So you go, thank you.
• 1:24:54
  No, thank you. So that song Fame was kind of
• 1:24:57
  playing in the back of my head. I'm going, I didn't want it, but
• 1:25:01
  I haven't some money. I mean success, money, fame.
• 1:25:07
  I use it for good things. Not not not for my own self
• 1:25:09
  purpose, you know. Right, it's.
• 1:25:11
  Doing what God wants done, not what I want to do.
• 1:25:15
  I was talking to my friend William and Lamb and he, he was
• 1:25:18
  talking to me, we were talking about impossible goals and he
• 1:25:22
  said we were talking about it like a 10 year goal and whatever
• 1:25:26
  and he goes. Have you thought about your
• 1:25:28
  thousand year goal? And that was another light bulb
• 1:25:31
  for me because he's like, that's legacy.
• 1:25:34
  I'm going to live forever. I'm going to learn how to fly.
• 1:25:39
  Yeah, and that's what you've done is you're you have 1000
• 1:25:43
  year ago. He called it the the Jesus
• 1:25:44
  effect, Like Jesus lives on long after he's gone.
• 1:25:48
  And you know, you've you've changed the way the world sees
• 1:25:52
  money and that will continue to live on.
• 1:25:53
  And that that I mean, you can't have a good life if you have no
• 1:25:58
  money, right? And so that is someone of the
• 1:26:00
  biggest impacts you could possibly have on a society or
• 1:26:02
  global from a global standpoint is helping people have financial
• 1:26:07
  freedom. Yeah, but we're talking about we
• 1:26:10
  drop a rock in the water and the ripple effects called
• 1:26:12
  precession. So famous procession.
• 1:26:16
  I didn't do it for the fame. Well, it's been amazing to have
• 1:26:19
  you on the show again for the second time, and I just.
• 1:26:22
  I'm proud of you. Thank you, Robert.
• 1:26:24
  She's always in seminars. Yeah, I I'm just so grateful for
• 1:26:29
  you and it's real living proof that whatever you possibly could
• 1:26:33
  dream of, you can have because I dreamed of having you in my life
• 1:26:36
  and I never thought I would be able to be so close with you as
• 1:26:40
  I am today. So I just to wrap up, I just
• 1:26:43
  want to finish. If you could go back and see
• 1:26:46
  little Robert Kiyosaki as a little boy, what advice would
• 1:26:50
  you give him? Well, but I think about that gym
• 1:26:52
  where I was the dance and I was the only guy not asked to dance.
• 1:26:57
  I was like I would have said, don't worry, it's going to
• 1:27:01
  change. But it was a good thing that
• 1:27:03
  happened to me. You know what I mean?
• 1:27:05
  Sometimes the worst things that happened to you are good things
• 1:27:08
  because it shapes you up. And that's why I went to
• 1:27:11
  military school and all that I said I've got to get the tougher
• 1:27:14
  on the inside, stronger or disciplined.
• 1:27:17
  And so that's why military and Marine Corps flying, losing my
• 1:27:21
  friends, you know, toughens you up.
• 1:27:23
  Watching the North North Vietnamese Army kick our asses,
• 1:27:27
  losing the war, it all builds character, you know.
• 1:27:31
  So I go back to Vietnam as a teacher.
• 1:27:33
  Now you know, there's no anger. I love it.
• 1:27:38
  I know. And that's some of the stuff
• 1:27:39
  that we didn't get into is really the the mindset and some
• 1:27:43
  of the belief systems. I guess I'm going to ask you
• 1:27:45
  that just because I went down there, but what do you think is
• 1:27:47
  the biggest belief system or mindset shift that is different
• 1:27:53
  between the rich and the poor and middle class?
• 1:27:55
  Great question. It goes to words.
• 1:27:58
  You know the why are poor people poor?
• 1:28:01
  Because they use poor words, you know, the word became flesh and
• 1:28:04
  dwelt amongst us from the Bible. And when a person says I can't
• 1:28:08
  afford it or I can't do that, you know, they see themselves
• 1:28:12
  poorly. So my rich dad forbid me from
• 1:28:15
  saying you can't, I can't afford it.
• 1:28:17
  My poor dad said it all the time.
• 1:28:19
  I can't afford it. When he got made of money, they
• 1:28:21
  got made of money. But poor, rich dad said that's
• 1:28:23
  why he's poor, because the word becomes flesh.
• 1:28:26
  So a rich dad taught me to say, how can I afford it?
• 1:28:30
  So when I was flat broke, I said, how am I going to get out
• 1:28:32
  of here because I was so down in a hole, you know, and what's the
• 1:28:35
  best thing that happened to me? Because I have to crawl out.
• 1:28:38
  A lot of people stay in that hole.
• 1:28:40
  Whether whatever you think you are, and that's how my dad used
• 1:28:44
  to talk to, he would always, you know, what am I made of?
• 1:28:46
  Money? We can't afford it.
• 1:28:47
  And whatever and your belief system and your subconscious,
• 1:28:51
  you attract all of that into your life and where your
• 1:28:53
  attention goes, your energy flows.
• 1:28:55
  And so if your attention is on what you don't want, I don't
• 1:28:58
  want to be poor. I don't want to have a bad
• 1:29:00
  relationship, I don't want to be sick, then all you're going to
• 1:29:03
  get is all of those things. What?
• 1:29:04
  You don't want. Yeah.
• 1:29:06
  And so that's why a question opens your mind.
• 1:29:08
  So how can I afford it? You know your mind, your mind
• 1:29:11
  goes to work. But if you say I can't do that,
• 1:29:14
  your mind shuts down. Well, thank you, Robert.
• 1:29:16
  Mind spirit, you know. Thank you.
• 1:29:18
  It's beautiful. Congratulations on your success.
• 1:29:21
  I'm proud of you. Thank you, Robert.
• 1:29:23
  I appreciate you. I'm proud of you back.
• 1:29:24
  Thank you.