THE BIGGEST MISTAKE YOUNG PEOPLE MAKE – ROBERT KIYOSAKI
Best known as the author of "Rich Dad Poor Dad"—the #1 personal finance book of all time—Robert Kiyosaki has challenged and changed the way tens of millions of people around the world think about money. He is an entrepreneur, educator, and investor who believes that each of us has the power to makes changes in our lives, take control of our financial future, and live the rich life we deserve.
With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.
Robert’s most recent books, "Why the Rich Are Getting Richer" and "More Important Than Money", were published in the spring of this year to mark the 20th Anniversary of the 1997 release of "Rich Dad Poor Dad." That book and its messages, viewed around the world as a classic in the personal finance arena, have stood the test of time. "Why the Rich Are Getting Richer," released two decades after the international blockbuster bestseller "Rich Dad Poor Dad," is positioned as Rich Dad Graduate School. Robert has also co-authored two books with Donald Trump, prior to his successful bid for the White House and election as President of the United States.
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I understand Mr. Kiyosaki, I’m a business owner myself but I feel as though he discounts the importance and necessity of the working class. Someone has to respond to disasters, pick and pack the oranges, rehab the injured, clean the windows etc. Also, never discount the element of happiness. Happy people spread happiness to others and make the world a better place. Everyone doesn’t have the desire to be a business owner or make “mega” money and that’s perfectly fine.
yes sir, I run some businesses myself… I am not saying he is wrong, it is just you cannot have bosses and everyone is a boss, some people just like being stress-free and I think it is just up to a person, some people are born differently. It is a personal choice, but dream big and that is why life is so interesting and worthwhile to live it.
What Kiyosaki and every successful millionaires are all trying to say and no matter what angle you look at it, it boils down to the same thing. It’s how you invest in yourself it’s you who secures the life you live.
And I wonder if every poor person on earth would live what he preaches, would it mean that everybody could be his own boss? You can only be a boss if you have employees if they all become bosses, too, who will be working for them? I guess there are people who are destined to be poor on the outside and rich on the inside. And people who can be rich on all levels. And each is blessed on different levels to be a blessing to others. What is money good for if it’s not used to create great things with it? I know many people who have tons of money. They have houses, cars, titles, success on the outside, and on the inside they’re dead. People that would never spend a Dollar on something that’s not beneficial for them. “If I invest in a homeless guy what is it good for? How will this serve me?” There are homeless people who could create a better world if they had money. There are so many people, who have beautiful minds filled with innovative ideas, inventions, even worldchanging concepts but who are struggeling wih basics, like where to get their next meal from. I still hope that one day we will all be able to give our best to serve each other the best we can. So there would be no need for money anyways.
Thank you sir for voicing this out
@Dee’s Finest the world you envision requires each individual to be not ignorant, not lazy, not selfish, not greedy, not egoistic, and most importantly, not tribalistic. It’s a very good aspiration anyway.
And this video is not only for the Millennials, this is also for people striving in their 20’s. Right now I’m 27 and Robert Kiyosaki’s words will not die until I make it big! Never too late to be rich.
KMoracle If youre 27 you are a millenial. Just fyi 😂😂
And about being a millenial, what’s your point?
I’m 37 and I’m starting out with my first investment …
Lol😂😂💀
“Passion is for the greedy, purpose is for the people”
“If you want to do what you love, you have to learn first what you hate”
I hate to accept it but that’s the reality. Thanks Sir Robert!
If you want to do what you love, you have to learn first what you hate
Passion is not for the greedy. Hell is for the greedy. Passion is for those who have discovered their purpose.
If passion for the greedy, and purpose is for the wealthy, why then are all the passionate people poor?
All these wealthy people in the world don’t seem to be sharing any of their money with the people who are starving to death.
Yet they have far more money then they will ever spend in three lifetimes.
I call bullshit! Wealthy people are, for the most part, excessively greedy.
@Ken Kneram Poor people are the greediest people on the planet. That is a simple, provable fact.
As for passion, there are people passionate for Jesus Christ, and people passionate for their own selves; nothing in between.
It is my Christian duty, as a faithful servant of Jesus Christ, to build wealth that serves as a walled city (inside of which those depending on me are safe). We are to labor with our hands that which is good so that (for the motivating purpose) of having to give to all who need.
That other people are rich, and not giving, is simply true, and totally consistent with the sinful, cursed world we live in. See in your mirror the hatred you have toward the rich, when it is your education system that should be the target of your wrath.
There are those who complain, and those who accomplish great things. You are clearly in the first category. When you stop being greedy, you are qualified to righteously build wealth.
I am happy to help you!
@Ken Kneram i personally think that passion is about yourself and purpose is about what you do for others. Wealth comes to those who bring great service to people and the level of service varies. The amount of value you give is what you get. I think passion pays but it depends on how much it contributes to the economy and society. What kind of rich can you get from something you value that people don’t? Wealth is something you build, not what you’re born with and there’s always a bigger price to pay for the greater good. Things like greed or selfishness, do they really matter anymore? You simply have to strive for what you want.
A few months back I hated working. I am 19 years old and I absolutely hated going into work at my warehouse job. I would make every excuse in the book to leave or to not even show up. All I wanted to do is quit and start a business and become an entrepreneur and make tons of money but had no idea how. I finally understood that sacrifice has to be made to get where I want to get. I had wasted so much money trying to invest in my ideas rather then just saving every penny from my job. I WAS GOING BROKE TRYING TO BECOME RICH! Advice that I would give to anyone that might be in the same position I was in. Save all your money, don’t jump into any ideas you’re not 100% about and not 100% committed in. Take 1-2 years and save everything you have, evaluate what you are gonna create or pursue before doing it. By then you will have 4-8k saved depending on your job to pursue your dreams.! Hope this helped!
What do u mean I Need to save..aren’t we gonna invest money for better outcome?
I am the young guys who always think about doing what I love. Because I think I can do it better since I have passion on it and I do not wanna take risks to get out of the comfort zone. I find that most of my friends have the same problem, they do not wanna take risks even they are young. It is not bad for people to do what they love, but there is a chance to learn new things and grow up when we get out of the comfort zone. You need push yourself to learn things when you do something that you hate or not familiar with. What is more, if you make enough money like Jack Ma, you can invest what you love and you can do what you want. Therefore, we should try and learn new things instead of staying in the comfort zone, we should be brave to take risks and learn from the failures.
Robert Kiyosaki hits the nail on the head with the importance of working to acquire tangible assets. Many people strive to do what they love every day, and while this may lead to happiness for some, it often does not bring economic security. Robert’s approach, however, first brings the financial security which will allow you to acquire the assets that bring long term success, whether they be businesses, real estate, or the “shiny things” that many are after. This, in turn, will free you up to do what you love, allowing you to quit that job which gave you the financial freedom to do all of this in the first place, despite the liabilities. Excellent points by Mr. Kiyosaki!
Yea, much easier to do that when you could borrow 100%-110% mortgages and house prices were 3-4x wages. Now you need at least a 20% deposit on a house that is 8-9x your wage at a time when rents are at all time highs. This whole mindset thing etc etc is great and all but when you have to scrap like all hell just to get by month to month really makes what people like this say feel like a kick in teeth
I can understand why some people hate him and others love him.
I was 19 when I made the decision that I would never live beyond my means and that proved to be the right decision. I am now 71 and I have no debt. Everything I have I own and I saved enough to enjoy my retirement fully. No, it wasn’t easy and yes, many sacrifice were made and to manage it all, a budget is key to control it all.
I appreciate your efforts but apparently earning more is better than saving more.
@starry scars yes, cause do to inflation the value of money decreases, if we invest the said money into a growing field that can give periodical returns, I think it might to a certain extent deal with the inflation problem.
Though, I still agree that one should save till a certain extent.
a very different time, then. Mistakes were not as expensive then as they are now. Going to college for just one year cost as much as it did for 4 years 30 some years ago.
“When it comes to money, the only skill most people know is to work hard.” – ROBERT KIYOSAKI
You here? Seems like you practice what you preach, thanks for getting me hooked up on being successful 😉
Yeah
Impressive video. I started a bit late (graduated from my doctorate program at age 30 in 2016 with 170k in school loan debt). Managed to pay off my debt by 2019 and currently have a house and 250k total in investments (combo of profit share, 401k and a brokerage account). I’m not very knowledgeable with investing, so I have all my capital currently vested in index funds but considering the dollar dumping and current inflation crisis. How optimal would this be beneficial long term?
Ever considered financial planning?
There’s a vast amount of ways to yielding a high income in the financial market but that you’d need to pick out an asset first, how much you want to invest & how you wanna invest.
Love reading his book “Rich Dad Poor Dad” honestly changed my life a bit and how I managed my money. Finally got a successful amazon business running and investments going my way after years of grinding. If your reading this, this is a sign for YOU! Keep Going! Keep grinding and it will pay off. Let’s make this money! 💰💰💰
You have FBA? I was thinking of starting recently
@Out Draft do it ! It’s really worth trying you just need to have the right product and the a really good quality product. Definitely not easy at the start but long term it’s really worth it
how did u do that bro?
i wanna go into amazon but i cant, i have no experience
How does Robert expect one to obtain the consistent capital in order to invest if having a job is for losers?
Word let’s go !!!! 💯🙏🏽🙏🏽
Here in Brazil we have a very different mentality, Thank you, mr. Kiyosaki. You open my mind right now
Robert, thank you for the education that make available on YouTube. I learn from you weekly/daily. We home-educate our kids, and I’m incorporating your videos into their school work.
This video is four years old and still has a lot of knowledge one can gain from it. Main talking point, you want to create wealth then you must either be an investor or big business owner with at least 500 employees. There are only two ways of becoming a successful investor either by dedicating your time and money to gain knowledge of this field or you use the tools which is already available to you, and I mean an advisor. Getting a FA has more benefits, you get advises from experienced expert whom has dedicated their path to this field, depending on treaty with your advisor you also get to mirror trades from them and so much more. I’d advise you watch this video with an open mind, you’ll learn alot.
I invest in bitcoins but I have taken more losses from it than my entire life. Just still hodling and hope it turns around soon.
@Bori LamSame for me, few months ago I liquidated my crypto assets worth $67k initially was sitting at over triple that amount, crypto isn’t an option now.
@Bori Lam If you watched the video to the end you should learn a thing or two shiny trends, there’s nothing wrong with investing in crypto but at this time I advise you get an advisor.
@AH1485 I’d encourage you learn diversity as part of your trading expertise.
@Daniel Miller I’m a newbie, can you please recommend any?
I’m glad I pulled through, despite the crises. I am retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably . I have no debts … Stay Motivated!!!
That is so amazing, I’m trying to get onto the housing ladder at 40. I wish at 55 I will be testifying to similar success
The reason many people venture into Trading/Investing (Financial Market), is so that they can get to have a better life.Opportunities comes infrequently, Invest now to achieve financial Independence. I engage on different sectors with *ROCHELLE DUNGCA-SCHREIBER* a well known fin. Advisor
Heard many good recommendations about ROCHELLE DUNGCA-SCHREIBER by some YT channels, Seminars and other platforms. Please, how do i reach her?
You can glance her name up on the internet and verify her yourself. she has years of financial market experience…
Okay, Thx.
I found her web page
This financial education is helped me to understand more than I have known.
I’m 19. I started listening to his interviews since i was 17. Of course i didn’t make money by listening to his speeches. But i’ve got solid foundation of life. Now i don’t try to find things that i love. I do what i need. This changed my whole life. Last year, i decided to dedicate everything i got into my work, and my situation got changed. As long as i’m spending my time on it, i’ll give it my all.
bro got the life taste. keep going man<3
Honestly, I’m unsure if investing is a wise move right now. Take note of how frequently things fail. As I still have some time before I retire, I’m still looking for a better strategy to invest my money despite reading charts and predictions from well-known investors from the past and present. In order to generate passive income, I want to build a solid and reliable portfolio.
The outstanding catch-up measures currently in place are unquestionably due to the Fed, as they were first too sluggish to contain inflation. The epidemic, supply-chain concerns, and the situation in Ukraine are all factors in the looming perfect storm of inflation. Not to mention the sharp increase in housing expenses, another factor that makes it challenging for the Fed to control inflation. To sum up, if you have the cash, get rid of it right away to benefit from the high savings rate.
The issue is this! Individuals with little to no experience in the stock market commonly try to buy on their own. Prior to acting appropriately and getting in touch with financial advisor HEATHER ANN CHRISTENSEN in the US, I had the notion, but things have changed since then. I began seeing incredible ROI.
@Zahair O’Brian Although this is impressive, my portfolio is in such horrible shape that I definitely need their aid. Tell me how I can get in touch with her, please.
@alex young Check up on Heather; in 2020, she attracted a lot of attention. I’m not sure whether I have permission to say anything, but… okay. She acts as my mentor and manages my portfolio.
I’m half way through his book and I really love it so far it really gave me a new view on not only money but different understands of it
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advisor
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio
I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
Robert Kiyosaki is beyond amazing. Whoever’s reading this hope you find success.
I am fortunate I made productive decisions that changed my life forever through my finance mentor. I’m a single parent living in Bn Italy, bought my second house in April and hoping to retire at 40 by next year.
My life is in a mess. Any tip in shaping my life.
To possibIy grow your finance, a mentor is needful to make it a reality. I engage in aIot with the ldeas of my mentor and so far have achieved so much already.
sear ch her full name below, if you care
•IsabeIIe ChIoe Scott•