Why Financial Advice Fails & What to Do Instead – Robert Kiyosaki & Ron Willoughby

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In this episode of the Rich Dad Radio Show, Robert Kiyosaki explores the critical financial decisions facing professionals like doctors and lawyers, particularly focusing on retirement planning and the relevance of financial planners. Kiyosaki introduces the historical context of the 1974 ERISA act leading to the emergence of 401ks and IRAs, highlighting the challenges baby boomers face with retirement due to these defined contribution pensions. Guest Ron Willoughby, a veteran of the financial services industry, sheds light on the transition from commission-based to fee-based financial advisement, its implications for investors, and the superior benefits of cash value life insurance over traditional stock market investments.

Through their discussion, they underline the failures of the modern financial advising industry, critique the motives behind financial advisement, and argue for the importance of informed and diversified investment strategies beyond stock and real estate markets.

00:00 Introduction
00:28 The Evolution of Retirement Planning: From Pensions to 401(k)s
02:15 Inside the Financial Services Industry
07:47 Exploring the Realities of Financial Planning and Investment Strategies
13:15 The Case for Whole Life Insurance in Financial Planning
19:03 The Rich Dad's Perspective on Real Estate vs. Traditional Financial Advice
32:47 Choosing Financial Advisors
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Facebook: @RobertKiyosaki

Twitter: @TheRealKiyosaki

Instagram: @TheRealKiyosaki


Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity.

The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.

Cameron Long

  • @TravelRN910 says:

    Arizona is just in the preheat mode.

  • @natamick5091 says:

    Thank you for your time and effort.

  • @-SoulSimulation- says:

    The best advice for a young person, buy a multi unit rental property, live in One unit, rent the others out, use this as a base of learning and building your future. Have a Beautiful day!!!

  • @jamesray6247 says:

    Excellent guest Robert thank you for bringing him on. I have friends and Co workers who think their 401k is tax free instead of tax deferred. I got out of 401k years ago and invested in an apartment complex. Never have looked back. Good show!

  • @jamesafred3731 says:

    After experimenting with stocks since late 2021, I’ve shifted to 100% S&P 500. Still regretting not doing so from the start. Now i am Considering a return to individual stocks in 2024, but uncertain about safely investing close to 300k in the market.

    • @jamesafred3731 says:

    • @alfredagbor867 says:

      Everyone needs a Margin of Safety in their portfolios and just remember, It’s time in the market versus timing the market.

    • @anitabenny6173 says:

      As a beginner, it’s essential for you to have a mentor to keep you accountable.
      I’m guided by a widely known crypto consultant

    • @DavidChris-wj2yb says:

      De-risk your portfolios, shore up your core holdings, and take some profits while balancing your portfolio allocations. I’d also suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary

    • @markstephen9120 says:

      How can I reach out to him??

  • @mikeyreacts5839 says:

    Money is not meant to control people rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place.

    • @mihaiduta4236 says:

      People don’t understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments don’t match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

    • @codecreateurroku6764 says:

      Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

    • @josemanuelmacias7968 says:

      Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn’t working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.

    • @RalphBischoff says:

      Jeff demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

    • @jameslongwell5025 says:

      I’m surprised that you just mentioned and recommend Mr Jeff Clark. I met him at a conference in 2018 and we have been working together ever since.

  • @lauranevin5990 says:

    I’m favoured financially with Bitcoin ETFs approval, Thank you buddy.$32,000 weekly profit regardless of how bad it gets on the economy.

    • @Larrycopper5 says:

      Same here, I believe the Bitcoin ETFs approval will be life changing opportunity for us, with my current portfolio of $108,000 from my investments with my personal financial advisor 1 totally agree with you

    • @Sakaecastro899 says:

      YES!!! That’s exactly her name (Elizabeth Camila) so many people have recommended highly about her and am just starting with her e from Brisbane Australia…🇦🇺

    • @Randy0207 says:

      I’m a long term investor, I withdrew my profits of over £61,000 during the covid-19 pandemic.

    • @Gabriellmorris409 says:

      She is my family’ personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.

    • @veronicawalters9818 says:

      This sounds so good and I would like to be a party to this, is there any way I can speak with her?

  • @sainakhtar9097 says:

    Robert Kiyosaki and team, [ Advice Failed ] You did this job fantastically. [ What to Do ] Sit back loose seat belt and relax.. We all must see what you done to deliver the World, Where the World is in deceptive Darkness. God bless you Man and your team.

  • @jmyth22 says:

    Good time to check out IBC policies though living wealth

  • @FighterFred says:

    The ads that Robert’s wife showed are no income generating options. Just to be clear. As to real estate, that’s fine if people can afford to rent. But in a crisis you’ll get vacancies and still have to pay interest, maintenance etc. Your own house produces zero income so it’s a liability not an asset. Regarding stocks, you can learn how trade yourself which is not difficult. Preferably a portfolio of good yield stocks. That’s the reverse of a fee based fund, leading to exponential growth.

  • @Ericlopez9405 says:

    I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that’s what everyone said. I’m still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I’m really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Patricia Annie Brooks

    • @BrettMcKee812 says:

      Wow. I’m a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i’m in my fifth trade with her and it has been super.

    • @Jessicathomass9 says:

      She is my family’s personal broker and also a personal broker in many families I’m United States, she’s a licensed broker and a FINRA AGENT in United states

    • @Toddburke9238 says:

      You trade with Annie Brooks too? Wow that woman has been a blessing to me and my family.

    • @Charlottehornets4 says:

      I’m new at this, please how can I reach her?

    • @Russandrews5632 says:

      I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills

  • @user-ff8do2lg9c says:

    happy birthday Robert

  • @mikehpnitto321 says:

    Wow! What a great video. you so well articulated. Monetary and Fiscal policies should work hand in hand to have a full effect, but we live in an era where government just doesn’t care, it will spend and double-down and spend more and more.. it just doesn’t care, and it would debilitate the monetary policy. The sad outcome will be likely BOTH the transition to a digital dollar CBDC that will give ultimate control to the government thus shrinking even more the independence of the central bank. At some point the central bank will have no actual meaning left. Honestly, it feels we’re not too far from it already….. I would buy Bitcoin and buy hard assets like gold /silver as a store of value while also actively trading…The only wild card for us investors is to actively engage the market by trading, it’s about playing it smart and steady during trading…managed to grow a nest egg of around 100k to a decent 432k in the space of a few months… I’m especially grateful to Francine Duguay, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

    • @KindraVillalta says:

      Thanks for keeping it light and real at the same time.  Much needed for us traders in times like these!

    • @leeleeaal says:

      The internet is filled with so many useful information about Francine Duguay crypto….

    • @crystaltaylor27 says:

      This is why it is advisable to connect with a true market strategist in order to avoid missing such opportunity and maintain steady gains.

    • @Judah4Rhodie says:

      It really helped trading with Francine Duguay analysis and info, even with the market in a downward trend. Definitely riding the market wave is a good perspective..

    • @SimonRee454 says:

      Access to good information is what we investors needs to progress financially and generally in life. this is a good one and I appreciate

  • @TheKietNguyen-dy1dz says:

    Brother I agree with both of you, bc I’m a hair dresser for 35 years now, I live in Vietnam now for 24 Asia haircut now too and we in Asia now buying gold like crazy and that means gold to go up more ❤

  • @socialpublisher123 says:

    Thank you Ron and Robert for your commentary 🙂.

  • @kleinlawncaresnowplowing7645 says:

    Happy Birthday Robert

  • @johnbethea4505 says:

    In 1969 i sold life and health insurance plans. I sold whole life policies that would earned several percent per year and have high cash value on your paid in money, it would insure you for a large amount of death insurance. A win win situation..

  • @LynnAnderson497 says:

    I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Michelle Stewart.

    • @alfredjason9168 says:

      Wow. I’m a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I’m in my fifth trade with her and it has been super.

    • @mattharris222 says:

      She is my family’s personal broker and also a personal broker in many families in United States, she’s a licensed broker and a FINRA AGENT in United states

    • @RobertJenkins835 says:

      You trade with Michelle Stewart too? Wow that woman has been a blessing to me and my family.

    • @KimberlyPham252 says:

      I’m new at this, please how can I reach her?

    • @MichaelHenkel562 says:

      I was skeptical at first till I decided to try. Its huge returns is awesome. I can’t say much

  • @LupeBaptista says:

    My $2m retirement account has gone up only by 2% in the past year due to rebalancing I did out of panic and doubt. My question is , what are best alternatives to take in other to secure a comfortable retirement? I don’t want to fail after 22 years of working hard.

    • @maria_casey says:

      at a point like this, when the pressure is on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions

  • @craigbouwers6051 says:

    Thanks for the financial information Robert Kiyosaki and Rich Dad Team.

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