THE RICH DON'T WORK FOR MONEY

THE RICH DON'T WORK FOR MONEY. OK. RICH DON'T SAVE MONEY. BECAUSE THAT'S WHAT SAVERS ARE LOSERS. BECAUSE YOU'RE SAVING FAKE MONEY. YOU'RE WORKING FOR FAKE MONEY. AND YOUR HOUSE IS NOT AN ASSET. MY GOD, I GOT CRUCIFIED FOR THAT WHEN RICH DAD POOR DAD CAME OUT LIKE IN 1997 OR SOMETHING. I GOT CRUCIFIED BECAUSE I WAS GOING AGAINST ALL THE BELIEF SYSTEM OF THE WORLD. COULD YOU BREAK THAT DOWN, WHY ISN'T A HOUSE AN ASSET? NOTHING TO DO WITH THE HOUSE, IT HAS TO DO WITH A THING CALLED CASH FLOW. THAT'S WHY MY FIRST PRODUCT WAS A CASHFLOW BOARD GAME. AND THE REASON I CREATED A BOARD GAME WAS I LEARNED EVERYTHING ABOUT INVESTING PLAYING MONOPOLY WITH MY RICH DAD. I SIT THERE PLAYING MONOPOLY, YOU KNOW, FOUR GREEN HOUSES, RED HOTEL, FOUR GREEN HOUSES, RED HOTEL. AND SO I'M LIKE, YOU KNOW, EIGHT, NINE, 10 YEARS OLD PLAYING MONOPOLY. HE GOES, I SAID, WHY ARE WE PLAYING MONOPOLY? HE SAYS, MY RICH DAD SAYS BECAUSE THE FORMULA FOR WEALTH, LOTS OF FORMULAS, HE'S ALWAYS SAID THERE'S A MILLION WAYS TO FINANCIAL HEAVEN, BUT A BILLION WAYS TO FINANCIAL HELL. AND ONE OF THE WAYS TO FINANCIAL HEAVEN IS THE MONOPOLY GAME, FOUR GREEN HOUSES, 1031 TAX DEFERRED EXCHANGE, RED HOTEL. I OWN THIS HOTEL HERE. I OWN HOTELS. I OWN GOLF COURSES. BECAUSE I WAS A KID, I WAS GOING, OH MY GOD. AND MY RICH DAD ACTUALLY TOOK ME AND SHOWED ME HIS GREEN HOUSES AND HE SAID, SOMEDAY THESE GREEN HOUSES BE A RED HOTEL. SO IF YOU GO TO WAIKIKI BEACH TODAY, YOU'LL SEE THE HYATT REGENCY HOTEL THAT USED TO BE RICH DAD'S. AND TODAY HE DOESN'T OWN THE HOTEL, HE OWNS THE LAND. HE'S A LAND LORD. AND THE FAMILY WILL BE RICH FOREVER. YOU KNOW, THEY PUT IT IN A TRUST AND THE KIDS DON'T HAVE TO WORK, WHICH I DON'T AGREE WITH, BUT THEY UM I LEARNED EVERYTHING PLAYING MONOPOLY. AND THEN ONE OF THE GREAT ENTREPRENEURS IS WHAT'S HER NAME, UM MARIA MONTESSORI, THE MONTESSORI SCHOOL SYSTEM. HE'S AN EDUCATIONAL ENTREPRENEUR. SHE SAYS, SHE AGREES, IT'S WHAT THE HAND DOES, THE MIND REMEMBERS. SO THINK ABOUT THIS. YOU WHAT SO LET'S SAY TIGER WOODS IS YOUR HERO AND YOU WANNA BE A GREAT GOLFER. SO YOU CAN GO TO A LECTURE BY TIGER WOODS. WOULD YOU LEARN ANYTHING? NOTHING. YOU HAVE TO PICK UP THAT GOLF CLUB AND YOU HAVE TO MAKE MISTAKES. AND IN SCHOOL, THEY SAY IF YOU MAKE MISTAKES, YOU'RE STUPID. WELL, I PROMISE YOU SOMETHING, TIGER WOODS HAS HIT MORE BAD BALLS THAN I EVER HAVE. WELL, THAT'S WHY HE'S THE GREATEST GOLFER IN HISTORY. AND OUR STUPID SCHOOL, I WON'T USE THE F WORD HERE, FOOLISH SCHOOL SYSTEM, THEY TELL YOU IF YOU MAKE MISTAKES, YOU'RE STUPID. BUT IF YOU DON'T MAKE MISTAKES, YOU DON'T LEARN ANYTHING. SO IF YOU WENT TO A TIGER WOODS LECTURE ON GOLF, BUT YOU DIDN'T PICK UP A GOLF COURSE, YOU'RE NOT ANY SMARTER. SO THAT'S WHAT HAPPENS, YOU KNOW, WHY WHY DON'T YOU GO TO SCHOOL? WELL, YOU GO TO SCHOOL, YOU'RE LECTURED TO BY SOMEBODY IS NOT EVEN RICH. MOST PROFESSORS ARE POOR. AND THEY TELL YOU DON'T MAKE MISTAKES, DON'T CHEAT. WELL, TO ME, CHEATING IS COOPERATION. AND I WAS VERY COOPERATIVE, YOU KNOW, LIKE. SO TODAY I CHEAT LIKE A I CHEAT LIKE A BASTARD. I HAVE THE I HAVE THE BEST ATTORNEYS, THE BEST ACCOUNTANTS. YOU KNOW, WHEN I GO AT IF I WAS PLAYING MONEY AGAINST YOU GUYS, I JUST CAME FROM MY ATTORNEY'S OFFICE AND MY ACCOUNTANTS, AND WE'RE A TEAM SPORT. WE COME AT WE COME AT THE GAME OF MONEY AS A TEAM. BUT THESE SILLY SCHOOL TEACHERS, THEY GOT A 401K AND THEY LISTEN TO A FINANCIAL PLANNER WHO WORKS FOR WALL STREET AND THE BANKS. CHOOSE YOUR TEACHERS WISELY. I ACTUALLY HAVE A QUESTION ON THAT. SO WHEN I FIRST READ RICH DAD POOR DAD, I WAS A STRAIGHT A STUDENT IN SCHOOL. I WAS GO, YOU KNOW, A FRESHMAN IN COLLEGE. I WAS GETTING READY TO, YOU KNOW, MY MY FUTURE AHEAD OF ME WAS THE CORPORATE ROUTE. AND THEN WHEN I READ RICH DAD POOR DAD, MY ENTIRE MINDSET CHANGED BECAUSE I REALIZED THE RICH DON'T WORK FOR MONEY AND YOU NEED CASH FLOW AND AND ALL THE LESSONS THAT YOU TEACH IN THE BOOK. AND SO FOR ME, I REALIZED I NEED TO GET SOME BETTER TEACHERS. FOR THOSE OUT THERE THAT THAT ARE IN THAT SITUATION, LIKE THEY'RE IN THE CORPORATE RAT RACE, THEY'RE THAT STUDENT THAT'S IN SCHOOL AND THEY'RE THEY'RE GETTING TO SET UP FOR 40 YEARS OF DOING THE SAME THING OVER AND OVER AGAIN, WHO ARE THE TEACHERS THEY SHOULD BE LOOKING TO ATTRACT? HOW CAN THEY GO OUT AND ACTUALLY FIND THE RIGHT TEACHER? THAT'S A GREAT QUESTION BECAUSE AS WE SAID, YOU KNOW, CHOOSE YOUR TEACHERS WISELY. SO WHO'S STILL TALKING TO YOU? MOMMY AND DADDY, YOU KNOW, IN YOUR HEAD. YOU KNOW, GO TO SCHOOL, GET A JOB, WORK HARD, SAVE MONEY, GET OUT OF DEBT.