THIS IS WHY ONLY 1% SUCCEED | An Eye Opening Interview with Robert Kiyosaki

The reason I wrote "Rich Dad Poor Dad" was because I knew this time was coming. And we have. .

. as a world, have never been here before And so, is it a spooky time? Damn yeah It is a.

. . it is probably the most dangerous time ever ever ever ever.

There's nothing to compare it to because there's never been a world economy before. For example, you know 100 years ago, if there was a stock market crash in England it didn't affect anybody but now the US market goes down, the world goes down. So plus with social media and all this we're doing now and.

. . So we've never been here before.

And you know, I. . .

I'm excited about it Because I make more money in crashes than I do when they go up. So, but for the average person will get wiped out. I'm afraid that the worst.

. . I hope I'm wrong, but I think we're heading for a global depression.

How does this play out for the average worker, Robert for the small business owner? I mean, what does the next 3 months look like? Because it doesn't look pretty, I mean people are already being laid off, made redundant.

Businesses are. . .

there's no cash flow in most of these businesses. How does that play out? Well, let me give you one more step just to give you the size of it, okay?

The national debt for WWII was 25 billion Every day today, every day they're printing 125 billion. Every single day. That's like five WWIIs per day.

They're printing so much money to keep this. . .

well just think about a hot air balloon with a tear in it. And they're doing- desperately trying to fix this tear but no matter how hard they try the tear has gone beyond, it's coming down. So in financial terms, it's called our debt-to-GDP, has now gone from 60 to 90 to 105, it's going to 120.

We're bankrupt and they're going to print more and more money which means savers are losers just as I predicted. Your money is going to be worthless in a few years. So, my message is the same as some of your other guests This is metamorphosis time.

Financial education in rich Dad's terms is really financial transformation. And the definition of metamorphosis is very important. Metamorphosis is, the definition is the evolution or the transformation from an immature form to an adult form.

An immature form to an adult form. Metamorphosis is the same as a caterpillar turning into a butterfly. And Fuller always said, "There's nothing to predict a butterfly inside a caterpillar.

" So everybody listening right now, if you're struggling financially, just think of yourself as a little caterpillar and this crisis is your cocoon. The question is, what do you emerge as? Do you emerge as a victim, you know, the world did that to me and the capitalists are crooks, the rich are bastards and all this stuff.

Or do you say "Oh, this is the best thing that ever happened to me. " The same as my health, I am ground zero for the Coronavirus. All that does is inspire me to get healthier.

You're either going to get healthier and wealthier or you're going to go bust. Your choice. It sits between your ears, your heart, your body, your mind, your spirit, your attitude.

This could be the best thing that ever happened to you physically, mentally, emotionally, spiritually. If you turn out to a butterfly or somebody will step on you like a little worm. It's your choice.

Now if you're in trouble today my message is not so kind, this is hard talk not happy talk. The crisis is in your head now that's the bad news The good news you can change the crisis by changing what's inside your head. And so I'm doing, I hate to brag, but I'm doing extremely well financially today because as I was warning everybody this crisis was coming, but it would be, it would be.

. . Irresponsible of me to warn people of the crisis and not personally make changes myself.

So the good news is, the crisis is in your head. The bad news is, it's in your head. The most important thing you can have right now is not job security but meaningful work.

So you and I don't need the money, but our work is meaningful. And it's our meaningful work that gets us through the hard times. So the good news is my company is sold out.

We cannot keep up with product The bad news is the supply chain shut down, but that's a good problem. We have tons of cash, I have gold, I have silver. And I do have challenges in the real estate market but that's going to make me stronger.

That's my only attitude I can have otherwise, I just cry and say "Well, the government should take care of me" I need a bailout, I need a stimulus. So what can I do? I'm one of them.

What do I do? Does it go back to employee, self-employee, business owner. It's- investor?

Like go find a business, go start a business, go reposition yourself career-wise? You know, is there a 1 2 3 step process on what I can do to be prepared for it? I have a friend in Panama he has an avocado farm.

So he's sitting in. . .

Panama growing avocados, he says because people have to eat. Another guy is- friend of mine is growing blueberries. But another friend of mine, he moved up to.

. . he was from Seattle, excuse me.

He had a big house, his kids all moved out, so he converted the kids bedrooms into one bedroom apartments. So he put a kitchen and he put a toilet inside these little bedrooms, and so he now rents out four bedrooms, he's making more money today than ever before because. .

. a lot of workers commute to Seattle, so they come in, they check in, they come in on Sunday night, they check out Friday afternoon. That little house is making more money.

So, the point is everybody can do something but you've got to figure out what you can do. Well, the reason the rich don't work for money is, number one expensive tax. See, there's 3 kinds of income earned, portfolio, passive.

So earned income is if I get a job that's earned income. If I'm a doctor or a programmer that's earned income because I'm working for it. If I buy us, if I buy let's say apple for $10, and I sell it for $20.

That's a. . .

- portfolio income, capital gains. - Yeah. But passive income, which is cash flow is never taxed.

So it's not. . .

and so all of these guys are screaming right now in America "Tax the rich", I said "Good luck. " Because most of the guys complaining they don't know there's 3 kinds of income and the rich don't have jobs anyway. They have assets.

And so the average schmo out there, poor guy. You know, sent the kid to school, they don't learn this. So that's why in fake, as you were talking about it.

is that newspaper article about Jared Kushner And he explains how the Trump's and the Kushner's don't pay taxes and make millions of dollars. And the reporter couldn't understand him because they're not- our schools will never teach you that. 3 types of income.

And they judged him and say they're wrong and it's cheating and we see that over and over again, Amazon not paying taxes. What do you say to people when they come up and say, "Robert it's not fair, it's not fair they're not paying taxes? " Well, there's always 3 sides to a coin, you know, heads, tails and the edge.

You know, so which side of the coin are you on? From my side, it's fair. But this is the difference.

Everybody can do the same thing I do because the tax laws are for everybody. You know, they- we don't say "Well, the tax laws are only for the rich. " No.

The tax laws are for everybody to use if you have the right financial education. And the reason I'm an advocate of financial education, without that education You have to pay taxes. You see, very few people will buy what I do Make a million dollars and pay zero tax That takes.

. . and my rich dad taught me that playing Monopoly.

That's how it started, you know, four green houses, one red hotel Or the McDonald's one. I write about it here. McDonald's Ray Kroc?

Yeah. McDonald's is in the real-estate business. So they sell hamburgers, but they buy real estate, so they pay no taxes.

You know this guy Bezos worth 16 billion dollars how much tax did he pay on that 16 billion? Zero. - And that's all legal.

Anyone can do it. - Everybody can do it. But everyone, most people lack the education.

So Jared, learned about money when he was a kid by watching his father, by watching these people invest in real estate. And said "Wow. " Not only do you get to make the money, you get to keep the money.

That's a big problem a lot of people don't understand. They're like, "Wow, look how much money I made. " But how much did you keep?

- Because that could be half. . .

- How much tax did you pay? How much tax did you pay? And so, well, you always say "This is the law.

" The law is true for every citizen, you can do it, but most people just don't do it. Sometimes like you said, they don't have the education but you need to have a plan if you're going to go do risky things. Well, it's not risky.

I mean to me what's. . .

what's risky is having a job and paying taxes and saving money because they're printing it. You know, that's the worst thing of all and that's why there's. .

. fake money, fake teachers, because the teachers will never, they don't know it and fake assets because Wall Street or the City of London or Lehman Brothers or Goldman well they're not going to tell you this.