Posted on: August 05, 2019

For years, one person has been studying the global economy and has boldly (and oftentimes successfully) predicted booms, opportunities, and crashes. His name is Robert Toru Kiyosaki.

If you have read any of the 26 books he has written (the most popular of course is Rich Dad Poor Dad which stayed in the New York Times bestseller list for 8 incredible years), Robert Kiyosaki needs no introduction.

However, aside from being a bestselling author, the former Marine is also a very successful entrepreneur, investor, and sought-after educator and speaker. He is also considered a financial knowledge activist.

If you’re a Robert Kiyosaki fan, today’s your lucky day as we have him on the podcast. Aside from sharing his thoughts on the upcoming crash and how you can protect yourself from losing everything, he also candidly shared many powerful insights that will surely change the way you look at things.

You better have a pen and paper handy as you have plenty of awesome gold nuggets to take note of!

Key Takeaways

  • Two reasons he loves real estate
  • Why people who are saving money are losing
  • Why people who know how to handle debt are getting richer and richer
  • His take on mentors in general
  • Why he does not keep his money in the bank
  • Why he created the cash flow game
  • Why he keeps gold and silver
  • What to do to survive a crash
  • Why savers are losers
  • The reason he started the Rich Dad company
  • Why you shouldn’t be afraid to make mistakes
  • Why he tithes and the power of tithing
  • Why business is pretty much like religion

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Episode Transcription

Cody Hofheinz: We’re listening to another episode on Wholesaling Inc. My name is Cody Hofheinz. I’ll be hosting today’s episode and today we have the man, the myth, the legend who has changed so many lives, Robert Kiyosaki. I’m super excited to be here. This guy has been someone that’s changed my life in real estate and has molded me and shaped me into who I am becoming real estate.
And without fail, his book is mentioned by more of our guests than any other book. Whenever we end our episode saying, what was the book that changed your life or that’s been a game changer? Without fail, most of our audience says, Rich Dad, Poor Dad, and so we have Mr. Rich Dad, Poor Dad, Robert Kiyosaki here with us today and I’m super excited. So get your pen, get your paper and get ready to write down a ton of gold nuggets, a ton of value that’s going to change your life. And let’s get going right into it. So Robert, what an honor to be here and I want to thank you for allowing me to come to your place here in Scottsdale and it’s a beautiful place, and I’m excited for this interview.

Robert Kiyosaki: Me too. So thank you very much.

Cody Hofheinz: Okay, my man. Well, let’s get right into it. Talking about real estate in general, do you still believe real estate is still the best way to grow your wealth?

Robert Kiyosaki: No. It’s what I love to do. If you don’t love real estate, don’t do it. It’s really quite simple. There’s a lot of people like stocks and bonds and ETFs and all that. If you love it, do that. But if you don’t love something, don’t do it. People say, do what you love. Well, they should also invest in what you love. So I’m an entrepreneur. I love businesses. So I start businesses, because a business is your best asset, but the purpose of a business is to buy real estate. That’s the McDonald’s formula. If you read Rich Dad, Poor Dad, they asked Ray Kroc and said, what business are you in? [inaudible 00:02:36] said, “Hamburgers.” And Ray Kroc says, “No, McDonald’s is a real estate company.” So the purpose of a business is to buy real estate. If I owned this business, I mean, I own this business. I also own the building, but they’re two separate company.
So if you understand that, then you’ll understand why the rich get richer. But the main reason I love real estate are two answers. Debt and taxes, debt and taxes. You see, most people are afraid of debt and they should be afraid of debt. Those guys like Ramsay, Dave Ramsay says, “Live debt-free.” And the average guy should live debt-free because they really don’t know about money. They went to school, they got a job and they invest in the stock market, and they should live debt-free because they really know nothing about money. Money is debt. Money became debt in 1971 when Nixon took the dollar off the Gold Standard, so money’s dead. So the people that are losing are the people who are saving money. They’re the biggest losers because why would you save money when the Federal Government’s printing money?
It makes no sense. And if you look at interest rates since the 2008 crash, interest rates once sub-zero in many parts of the world, and idiots are still saving money. Look at the Japanese. I’m Japanese. They’re idiots. They save money. Japanese have the highest saving per capita of any country in the world and their governments ripping them off printing money. I mean, come on guys. I’m fourth generation Japanese so I don’t think like them, but why would you save money when the government’s printing it and interest rates are down. And they keep lowering interest rates and they still save money.
So one day lower interest rates are saying, “Hey, please borrow money.” Because after 1971 the only way money was created is if you borrowed money. That was it. So the people that know how to handle debt are getting richer and richer and richer and richer and richer. And the savers are the losers, the losers, the losers, the losers. So I like real estate. I pay it. The more debt I use, the less tax I pay. Your two largest expenses, debt and taxes. So you better learn how to use it. So that’s why I like real estate. Don’t invest in real estate because you want to not pay your debt and taxes because you get your butt handed to you.

Cody Hofheinz: Yes. Some of the things that I learned from you that I think is interesting. I’m still trying to master this still, by the way, is you pay very little, if no taxes. You know how to do zero taxes. This is the key thing. So not just very little to none. Literally no taxes.

Robert Kiyosaki: Legally.

Cody Hofheinz: Yes. Talk a little bit about that. What are some of the tips on that to help people realize they can do that.

Robert Kiyosaki: It’s not a tip. You got to study it. I am a student of money. If you just want a tip, go talk to your financial planner and get screwed.

Cody Hofheinz: That’s a good point.

Robert Kiyosaki: Because the financial planner is a salesperson. They’re not a rich person. And the average person has taken financial advice from poor people who need money like the school teacher and their parents. They may be very good people, but you don’t come to me for dental work because I don’t know anything about dental work, but that’s what people are doing. The talking to poor people about money and the only thing they can tell them is, “Well, give your money to me.” So the most stupid question I hear, I hear it day in day out, “I have $10,000, what should I do with it?” I say, the first step is a shut your mouth because if you say you have $10,000, you don’t want to do with it. There’s 12 gajillion people out there that will tell you what to do with it. Give it to them.
So that’s how stupid people are. I mean, the word is stupid. If you have money, don’t tell anybody, step one. And then figure out what you want to do with your money. If you love business, learn entrepreneurship. You like real estate, learn real estate. If you like stocks and bonds, most guys that like stocks and bonds are corporate employee types. I’m not corporate. I’m not an employee. I don’t like stocks and bonds because I’ve taken three companies public. That’s the most corrupt thing you can do is take a company public. Nothing’s real in there. It’s fake stocks, bonds, mutual funds, ETFs, they’re all manipulated. So I don’t touch them. And I’m not a corporate guy. I’m an entrepreneur. So I like real estate because I don’t have to play the stock market a bit, but if you don’t know real estate play the stock market.

Cody Hofheinz: Yes. Good points. Good points. So growing up, you had an incredible mentor. You have what you call your rich dad, that was able to give you insight, teach you these different things that maybe poor dad wasn’t able to do. What is your value still today looking at mentors? Is it something you still look for guidance from mentors? Do you still seek people out that are maybe in a higher destination, or what does that look like for you when it comes to mentors in general?

Robert Kiyosaki: Well, I covered it in this book. It’s my latest book. It’s called Fake: Fake Money. In 1971, the U.S. dollar became fake. Why would you save it and why would you work for it? It makes no sense. And the more you work for the higher tax you pay, that is really stupid. That is stupid. Stupid. Stupid. So that’s why in Rich Dad, Poor Dad lesson number one I is don’t work for money, but everybody goes to school to work for money. I wouldn’t work for money because you pay tax. Second one is fake teachers. What do teachers know about money? Nothing. I was in an accounting class. I knew more about accounting than my teacher did. My MBA program. That’s when I dropped out. I said, “Why am I here?” I’m listening to an idiot. And then fake assets. Wall Street pumps out fake assets.
Oh, they wouldn’t do that. Well, there was a thing called derivatives, right? MBS’s, credit default swaps. This crap they’re handing out is toxic. I mean, I like Wall Street, but I don’t buy their assets. The average person buys stocks, bonds, mutual funds, ETF credit, default swap, MBS’s and all that. They just rip people off. I just don’t touch it. The same as when I go to a bank, I don’t keep my money in a bank. Why? Because they’re printing it. So I go to my bank. I love my banker because I borrow money from my bank. I go to Wall Street to borrow money from Wall Street. I love debt, but if you can’t handle debt, don’t borrow it.
So that’s why it’s fake money. Fake teachers, fake assets. And you’ve got to know between all of them. Why would you listen to a person who was poor? I don’t know why people do that. So my poor dad is a great guy, PhD, for poor, helpless and desperate. I didn’t listen to him about money. Good man. Taught me to be honest. Taught me a few other things, but not money. He didn’t know jack about money. And I would say 98% of all school teachers, 50% are good people, 100% know Jack about money, so why would I listen to them? That’s what I’m saying.

Cody Hofheinz: Do you do groups where you meet with individuals now? I mean, I’m assuming people-

Robert Kiyosaki: No.

Cody Hofheinz: Even if they fly to you for stuff?

Robert Kiyosaki: Why would I talk to them? I created this cash flow board game. How did my rich dad teaching me about money? With monopoly. Four green houses. One red hotel, four green houses, one red hotel. Today I have 6,000 houses. I have hotels, I have businesses, I’ve oil wells. I play monopoly every single day of my life. It’s how I win. I only play to win. You want to lose, save money, buy ETFs. That’s how you lose. I don’t like losing. Got it. So what makes this different than Monopoly is this here. And this is why most people who leave school, they have no idea what it is. This separates Monopoly from rich debt, from cash flow. This is a financial statement. When you go to your bank or your banker, ask for one thing, “Show me your financial statement.” 99% of all high school kids leaving high school have no idea what a financial statement is and they wonder why they’re going broke.
This is an income statement. This is a balance sheet. This is called a statement of cash flow. Somebody, I played it once. Well, you’re an idiot. You don’t play the game of golf once and then to go to the masters. That’s how stupid people are. They go to school, they think they play, they get the answers, and they can do it once. I just can’t believe. I got tired of talking to people. So I created this game with my wife Kim. So you can teach yourself that. People can teach people, and you play it and you do it in real life. Don’t talk to me until you got stuff in this column here. It’s called an asset. Assets, cash flow money into your pocket. Liabilities, cash flow money out of your pocket. 99% of the people have liabilities, have a house, a car and a college loan. Those are liabilities they call assets.
That is how bad our education is. So that’s why I created the Cashflow game. I played it once. I’ve had people actually tell me, I have a degree in economics. Well, this is not economics. This is called accounting. They don’t know that there’s accounting and economics. That’s how stupid people are. They say, “I can balance a checkbook.” A checkbook is balanced inside here. It’s under your savings. They don’t have the big picture. So my wife and I created Cashflow. So you could teach each other, and you play it over and over and over again. Why do you play it over and over again? Because he can make mistakes. It’s like the game of golf. The person who makes the most mistakes wins. Look at baseball. I think Babe Ruth, the biggest home run hitter, he was also the biggest strikeout king. He had a 200 average, two point average. And our school systems, well, if you’re not hitting a home run every single time, you’re an idiot. Well, it’s the school system that’s idiots. They punish kids. The parents punish kids.
There’s new evidence saying that when a kid is forced to study hard, the brain is damaged today. So they never learned this in school. This was started in 1996 and I wrote Rich Dad, Poor Dad, which is now all over the world, in ’97. And that’s the difference. If you want to be an employee, a high paying job, you work here, but you look here. First-line and expense tax. I don’t pay tax because my income comes from here. Trump doesn’t pay tax either. That’s why they’re after his tax records. I cover it here in Fake. New York Times interviewed Jared Kushner, the Kushner’s are Jewish, are richer than the Trumps.
And the Kushner’s don’t pay taxes either. And this New York time reporter went nuts. Well, [inaudible 00:12:33]. Because reporter’s an A student that went to school in journalism, but all they know is a high paying job and to pay taxes, that’s why they’re broke. And why would you listen to them? So I’m not saying one is right or wrong, it’s just what is most interesting to you. You want a high paying job and pay more taxes and buy a big house and more student loans and a nice car and all that. That’s why most professional athletes, they’re bankrupt in five years because they’ve got a high pay job. They pay their taxes and the first thing they do is take care of their friends and family, their mother. They’ll buy them a house, big houses. Then their contract’s up and they go broke.

Cody Hofheinz: I think one of my greatest paradigm shifts from you was because of Rich Dad, Poor Dad. When you said your home is not an asset, I think the whole world flipped upside down. They’re like, “What are you telling me? My home’s not an asset. Absolutely it’s an asset.” And you’re like, “No, it’s not.” Tell our audience a little bit about this, that are thinking their home is an asset. And why isn’t your home and asset? What is the real definition of an asset?

Robert Kiyosaki: These are the two most important words in business, cash flow. Financial intelligent people can control their cash flow. Idiots cannot. They’d have financial diarrhea, the money just flows out. Loose as a goose as they say. So this is called the statement of cash flow here. So this is what happens to the average person. They get a job because they went to school. Cash flows this way out into taxes. That’s why I don’t work for money. That’s why I don’t want a job. So the first expense goes to the government in taxes. Then they buy a house. That money goes straight to the banks, the mortgage companies, the shadow stats banks and stuff like this. Then they have a 401k and ETFs. The money flows straight to Wall Street. Let’s say you graduated from college at age 20 or 25 let’s say, you retire at 65, right? For 40 years, your cash flows this way straight to Wall Street.
If they lose the money, which they do, you don’t get it back. In my opinion, that’s stupid. But that was my poor dad. Go to school, get a job. Pay your tax. Live below your means. Buy a house because it’s your biggest asset and invest for the longterm in a well diversified stock portfolio bonds, stocks, bonds, mutual funds, ETFs. The month the cash is flowing out. It’s called loose as a goose. Have you ever seen a goose take a dump. It goes out fast. That’s called the goose that didn’t lay the golden egg. I sit there looking at that and I got tired of listening to these idiots. Well, my wife and I created the Cashflow game so people could teach people. Then you can make up your mind, which asset do I want? Do I want real estate? Do I want business? Do I want oil, gas, gold, silver? They all have different assets. So that’s why the Cashflow game was created and most guys say, “Well, I don’t have the time. I don’t have the money.” Well, then you’ll be as loose as a goose.

Cody Hofheinz: Well, Robert, one thing I think you’ve been pretty spot on in multiple of your books. You’ve been able to see almost future what’s going to happen with the economy, and you called out, pretty dang dead on, each crash that has taken place. What do you see the future economy doing and how should people start preparing?

Robert Kiyosaki: Well, the question is how long can the government keep printing money? Today, the national debt passed 22 trillion. The off balance sheet debt of the United States is 265 trillion. We cannot pay it off. Our debt to GDP, when it goes past 60, 60% debt to GDP, it’s a warning. So that’s like making $1,000 a month. But $600 is going to debt, right? When it hits 90%, you can’t turn back. Today the U.S. Government’s debt to GDP is 115%.

Cody Hofheinz: That’s today you said?

Robert Kiyosaki: Today. It cannot turn back. So the question is, are we going to have a depression or a collapse? A collapse happens every 1500 years. The last collapse was the Roman Empire 1500 years ago. I hope it doesn’t happen, but if you study. History does repeat at times. So that’s why in Fake I write about keeping real money, which is gold and silver, and no ETFs. Do not touch fake gold and silver, which are gold and silver ETFs because they’re still fake. So I keep gold and silver in a safe outside the banking system because if the banking system shuts down, businesses will collapse, and we will have a collapse.
I don’t think it’ll happen, but I’m prepared in case it does. So what I always suggest to people, have enough money outside the banking system, so you can survive for a year. That’s why I save gold and silver because what happened with gold and silver in 1971, the business school started saying to people that gold and silver was a barbaric relic. And it is, but it’s real. Gold and silver have been here since during the earth was formed. Gold and silver will be here when we’re gone. So since 1972, which is this book is about here. I’ve been saving gold and silver. So I have millions in gold and silver. I never intend to spend it. Now what happened to gold and silver, it went to 800, and it dropped. I bought more when it dropped. In the year 2000, gold was $260 an ounce. Today, it’s 1400 an ounce.

Cody Hofheinz: Great, ROI.

Robert Kiyosaki: But the guys who saved money took a hammering, right? It’s not an ROI. I didn’t lose money. So that’s why savers are losers, guys that held gold and silver are the winners, and still our business schools will tell you, do not touch gold and silver. Why? Because they can’t print it. You see the whole system is to print money, which is why savers are losers. So that’s why I like real estate is because I use dept to buy real estate and pay no taxes. So all the money flows into my income, but the average person doesn’t have a financial statement. They don’t know what’s going on because they went to school and they never learned this stuff.

Cody Hofheinz: That’s right. When you’re talking gold and silver, this is even something I’m interested in. What is the even beginning steps? Where’s the trusted sites? How do you even buy gold and silver? How do you even begin to look into what is the gold you should be buying versus the gold you shouldn’t be buying?

Robert Kiyosaki: Well, like everything, anything in here you should study. I studied gold and silver, that’s all. The trouble with most people that don’t know anything about gold and silver, they go in and they don’t make any money on gold and silver. They make money on selling idiots numismatic collectible coins. So you walk in there and you want a silver dollar, let’s say, or a gold Kroger or a gold Eagle. They’ll say yes, but if you buy a 1912 it’s worth five times more. And then you buy the collectible, call it numismatic and that’s where the margins are. That’s how they make money.
They want you to buy the collectibles because it’s no different than buying a stock and hoping it’s going up. It’s no different than buying a piece of real estate, hope that it’s going to go up. So the average person’s a sucker. We all know that. And the reason I started the Rich Dad company is to educate those who don’t want to be suckers anymore. Go to school, get a job, buy a house, get out of debt, pay your taxes and invest in the stock market. That’s for suckers and losers. Nothing wrong with being a sucker or a looser, but I just don’t like being one.

Cody Hofheinz: Knowing what you know now, you’ve had this life to study so much absorbed so much in. You’ve had probably wins and losses maybe, but what would you tell yourself if you’re looking at 20 year old Robert Kiyosaki, what would you tell 20 year old Robert Kiyosaki what you know today?

Robert Kiyosaki: I wouldn’t change a thing. The second biggest mistake people make, they always want to know what was your biggest mistake. You know why? The question is, why you’re afraid of making mistakes because he went to school or your mother said don’t make mistakes, or you went to church and they say, you make a mistake, you’re going to go to hell. And the only way we learn is by making mistakes. And so when people are afraid of making mistakes, they don’t make mistakes and they stay stupid. And then if they make a mistake, they lie about. Look at that guy, President Clinton. He has sex in the White House. There’s nothing illegal about having sex in the White House, but lying about it is called a felony. So because he lied, Clinton became a felon. Of course, couple other things too. But anyway, so most people when they don’t make mistakes, are afraid of admitting they made a mistake and they waste a good time to learn something. So I’m constantly making mistakes. Am I going to make more? Absolutely.

Cody Hofheinz: It’s so good this knowledge.

Robert Kiyosaki: Why would I not make mistakes? So a lot of people have this Christian idea. I’m not against religion either. That if I get rich I’ll become evil because the rich are evil. If you don’t get rid of that thought, you’ll never be rich. I remember my school teacher, when I was fourth grade, I raised my hand and say, “Hey, when am I going to learn about money?” She was a church lady. She goes, “The love of money is the root of all evil.” I said, “Who told you that?” Church. I said, “Well, change churches.” And that’s why you’re a Mormon, right?

Cody Hofheinz: Yes. I am.

Robert Kiyosaki: I think the Mormon religion is the most up-to-date there is because you guys tithe, right?

Cody Hofheinz: That’s right, we do.

Robert Kiyosaki: 10%, that’s really smart because when you tithe, God becomes your partner, right?

Cody Hofheinz: That’s right.

Robert Kiyosaki: So I give 10% to what inspires me. I give 10% to things that I can’t work on. So, my wife donates to animals and I donate to educational events and public television, and stuff like this, but people who don’t pay their partner, who is God. I learned this from the Mormon church, God doesn’t take care of them, right? If you don’t pay God, it’s like to not paying your partner.

Cody Hofheinz: That’s right.

Robert Kiyosaki: And so people who don’t tithe, they got crap happening to them all the time. So I have subscribed to, not that I’m a Mormon, but I subscribed to tithing. And the reason for tithing, you got to pay your partner. And you pay God first. I’m not religious, but I pay God first. That’s the difference. So good stuff happens.

Cody Hofheinz: Brilliant. I am absorbing all this in just listening to where you’re at, someone who I look up to and still say, am I going to make mistakes? Heck, yes, I am.

Robert Kiyosaki: I hope so.

Cody Hofheinz: And there you go. And even egg it on, like “Come on, bring on the mistakes.” It’s those mistakes that ultimately make us better individuals, that make us sharper, individual, make us who we’re supposed to become. And I just love this because this is what our audience needs to hear is, it’s okay. Fail your way forward. Make mistakes.

Robert Kiyosaki: It’s more than that. You have to learn from them and that takes humility. Now how do you make mistakes? Being egotistical. God knows I’m egotistical. You see this yellow Ferrari there. That’s my sixth Ferrari. I have an ego so big. So when I make a mistake, the ego has got to be deflated a little bit so I can learn a little bit and that’s how I get rich. But people who make mistakes and don’t learn from them, they just make a bigger mistake. So anyway, humility is how we learn. So, I’m very arrogant, I’m egotistical. I have Rolls Royces, Ferraris, Bentleys. I love money, but I tithe and when I make a mistake, I say, “Okay, God, what do I need to know?” That’s it.

Cody Hofheinz: Great words of advice right there, Robert. I appreciate that. In closing, we always ask two questions that we always love asking. It’s what’s a good book that you’re reading right now, that’s game changing that you like. What would you say if you had to name all the books, including by the way, this incredible wall here, such amazing books.

Robert Kiyosaki: Different languages. This book is an asset. Every month money comes in, all over the world and as I say on there, I’m not a best writing author. I flunked out of school, so I can’t write. I’m a best selling off. So the reason my best friends are Mormons. You know why? Because you guys can sell. When a Mormon goes on a mission, my esteem for them goes up. You know why? Because I went to military school, so we have a mission also. We go to a faraway places, meet nice people and we shoot them. You guys have to save them. I’d rather shoot them than save them. So my friends who are Mormons, I go, how in the world did you do it? You got to be nice to these people. You’ve got to try and save their soul. You know what I mean?

Cody Hofheinz: It’s hard work. It’s not an easy work.

Robert Kiyosaki: You guys are crazy.

Cody Hofheinz: But we love it.

Robert Kiyosaki: Being a Marine, it’s a lot easier. I don’t do that anymore. But the reason Marines are tight is we have a mission. There’s a code of honor. We’re very, very tight. We’re very spiritual organization. Marines do not desert fellow Marines in combat. We stay behind, we bring them back. No matter what. When I was trying to choose which branch of service. So I went to military school, first rule you learn is mission. So I go to this interview and they have, because they needed pilots, so they had the Army, Air Force, Navy, Coast Guard, and a Marine.
So I’m standing there looking at it, which one am I going to join? And the Marine stands up first. He says, “Gentlemen, [inaudible 00:26:44]. Get clear on the mission of United States Marine Corps. We kill people. Every Marine carries a gun. If you want to save people, join the Coast Guard. You want to play golf, joined the Air Force. You want to drive boats, join the Navy. You want to drive trucks, join the Army. Well, we killed people.” Nobody went to talk to him, but he was crystal clear. So out of 600, only men in those days were pilots, so 12 stood in front of him. I was one of them. I was very clear on the mission. If I’m going to go to a war, I want to be clear on what I’m doing. Does that make sense to you?

Cody Hofheinz: Well, in a business standpoint, that’s brilliant knowledge right there.

Robert Kiyosaki: Yes. I don’t want to be in combat with somebody who was thinking about joining the Coast Guard. You know what I mean? If you want to save people, become a Mormon or join the Coast Guard. Be clear on their mission. So that’s why mission is spiritual. So that’s why I have tremendous respect. That’s why so many of my… They not good Mormons, but they’re good missionaries. My friend’s a Jack Mormon, see what I mean. They went and they became missionaries. I have tremendous respect for their internal discipline and that’s the difference. And they can sell. I meet so many guys who can’t sell. They can’t sell. They’re afraid of rejection. So business is very much like our religion. Better be clear on your mission, what you’re here to do, who you’re trying to save and do your job. But too many people are only in business for money and that’s why they’re not successful because money is fake. Fake money, fake teachers, fake assets.

Cody Hofheinz: Hence, the book Fake guys. Hence, the book right here.

Robert Kiyosaki: And you’ve got to have this. This is what your banker wants to see it. A banker doesn’t care if you had good grades. The banker doesn’t care what college you went to. Look at the richest guys on earth today. They dropped out of school.

Cody Hofheinz: That’s right. That is true.

Robert Kiyosaki: Steve Jobs, he dropped out of school. Gates dropped out of school. Zuckerberg dropped out of school. Branson dropped out of school. Henry Ford dropped out of school. Walt Disney dropped out of school. Didn’t hurt them at all.

Cody Hofheinz: So true. Robert, thank you so much. This has been an awesome interview. It’s been an honor for me. Again, to have this opportunity, I remember reading your book and it changed my life as a young kid. And here I am sitting in front of you. So what an honor to be here and thank you for allowing this to happen.

Robert Kiyosaki: Keep teaching. The world needs real teachers, not fake teachers.

Cody Hofheinz: That’s right. Well, thank you so much, Robert. I appreciate it.

Robert Kiyosaki: Thank you.

Cody Hofheinz: Guys. What an awesome episode. You got to learn from the man that has just been out there doing good and teaching us how to grow with real estate, business. There’s so many-

Robert Kiyosaki: [Lucky 00:29:30] you love.

Cody Hofheinz: That’s, that’s key. Do what you love.

Robert Kiyosaki: I love real estate. I love not paying taxes and I love debt.

Cody Hofheinz: Everyone’s got to love that, not paying taxes. Come on, who wouldn’t this?

Robert Kiyosaki: Well, I might explain one thing. Taxes are incentives. You donate to the church, you get a tax break, right? You donate to charity, you get a tax break. You invest in real estate, you get a tax break. Invest in food, you get a tax break. You invest in stocks, get no tax break. That should tell you something. I invest in oil and gas as an entrepreneur. If I invest $1 million in oil and gas, I get $400,000 cash flow that day. If I invest in Exxon on a standard oil, $1 million, I get zero the next day. Why would I touch stocks? Makes no sense to me.

Cody Hofheinz: Brilliant. Guys, good stuff here. Thanks for joining in. I’m so grateful that Robert was able to take some time today. Awesome stuff here. Put this on a download. Re-listen to this and keep jotting down those golden nuggets and you’ll be well on your way to where you can be financially free, and hopefully catch up to this guy right here who is just incredible at what he does with all of his investments. Thank you, guys.

Robert Kiyosaki: Thanks.

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