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Robert Kiyosaki, Author of 'Rich Dad, Poor Dad', Tells His Life Story (Full Interview) — Transcript

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0:02foreign
0:05here we go today we have Robert Kiyosaki
0:09one of the best-selling authors of all
0:11time uh the author of The Rich Dad Poor
0:14Dad series which has sold over 40
0:16million copies worldwide and translated
0:19into 51 languages welcome to Vlad TV
0:22well thank you very much I'm honored
0:26absolutely I mean I read the book myself
0:28when I was younger and it definitely had
0:30an effect on me in terms of how I looked
0:32at money and so forth you know
0:33throughout my journey well thank you yes
0:37okay well this is your first time here
0:39so I want to get into your whole story
0:42so you actually grew up in Hawaii
0:45correct
0:46I I was I was born in Honolulu
0:49and when I was younger my father moved
0:53to another aisle Poor Dad moved to the
0:55Big Island
0:57so it went from the big city to a small
0:59sugar Plantation town called Hilo Hawaii
1:03and it's the farthest
1:06City south in America so when I say to
1:09people I'm from the Deep South I really
1:11am from the Deep South you know it's
1:12farther south than Florida
1:15okay well your father was a professor
1:19but what did your mother do my mother
1:21registered nurse
1:23and uh you know great I was very
1:26fortunate to have good solid parents and
1:28as you know today that's one of the
1:30things that's lacking
1:32in our society as a lot of times people
1:34are raised by single parents or whatever
1:37the case may be
1:39and then they go to school
1:41and I don't know what they're teaching
1:43them there but it's it's not what you
1:46know I mean
1:48I I just don't get what they're teaching
1:50I don't know why they're doing it so
1:51anyway that's my story
1:53okay and your dad was the head of
1:57Education uh the head of the education
1:59department of the state of Hawaii
2:01correct
2:02okay and he had a PhD he went to
2:04Stanford Chicago and I think
2:06Northwestern right well the absolute
2:08truth is my dad never graduated from
2:10college
2:11us what happened was he was so smart oh
2:16poor dad
2:17that he got his bachelor's
2:22in two years they gave it to him because
2:25he was so far ahead of the thing and
2:27then he then he went uh he became a
2:30professor at Arizona I mean at Arizona
2:32State but University Hawaii
2:35and so I grew up in kind of the
2:38professor type role but and then he went
2:42to Stanford University Chicago
2:43Northwestern
2:45but even then he never got a degree but
2:47they gave him an honorary PhD
2:50because he was so so smart and meanwhile
2:54he had me as a son
2:56and I was flunking out of school so you
3:00know as I say the cobbler's kids has no
3:03shoes
3:04in this case a superative education Sons
3:07had no brains
3:09so I flunked out of high school twice I
3:11flunked out when I was 15. and I flunked
3:14out when I was 17.
3:15and it wasn't that I couldn't study it's
3:19just I didn't like school
3:21and um
3:23but I flunked English because I can't
3:25write
3:26and I think that's kind of interesting
3:27I'm Vlad I flocked English twice when I
3:31was 15 and 17.
3:33because I can't write and today I'm a
3:36best-selling author so just shows you
3:38that school is not the be-all end-all to
3:41everybody you were going to Hilo High
3:43School and you graduated in 65. yeah
3:47okay and then you move to New York after
3:49that yeah I got even though I had F's I
3:52got Congressional nominations to Naval
3:54Academy and merch Marine Academy
3:58and when I looked at the pro I got uh my
4:01congressman Senator Dani Noe I had bad
4:05grades but High SATs
4:07so um he gave me nominations to Naval
4:10Academy and merch read Academy and I
4:13always wanted to go to Merchant Marine
4:14Academy
4:15uh to sell the ship see so when they
4:18talk about supply chain today
4:20uh Merchant Marine Academy at Kings
4:23Point versus West Point or an Air Force
4:25or Coast Guard or Navy or Air Force you
4:28know King's Point sent us to see
4:32so we drove Freighters and uh container
4:35ships tugboats
4:37and I was I liked oil for some reason
4:42and so I studied oil at Kings Point in
4:45New York Kings Point New York
4:48and my first job was with Standard Oil
4:50of California out of San Francisco
4:53so King's Point had the distinction back
4:56in 65 of being the highest paid
4:57graduates in the world
5:00so when I graduated in 69 with a
5:03Bachelor of Science degree
5:04starting pay for us was about 120 000 a
5:08year so 69 that was a lot of money but I
5:11had to sail into Vietnam so if I sailed
5:13into Vietnam I got 120k a year
5:16and uh also uh
5:20I had to be a member of the Union the
5:21labor union so the mmnp is called the
5:24mattress mates and Pilots
5:26and I didn't want to join the union
5:30so Standard Oil was non-union and the
5:33reason I joined the union long story
5:36is in 65
5:38my economics teacher at the Academy in
5:40New York had us read The Communist
5:43Manifesto by Marx
5:46so while everybody was learning about
5:48whatever learning economics he was
5:50teaching us about communism
5:52and my economics teacher was a West
5:54Point graduate Army
5:56and he flew b-17s in World War II
6:00and he went down three times
6:03stop listening to this guy he's a real
6:05stud you know I mean
6:06West Point bomber pilot went on got shot
6:11down went to Harvard came back as
6:13economics teacher and he's talking to me
6:16about what it's like to get shot down
6:17and get captured I'm going holy mackerel
6:21that sounds kind of like fun you know
6:23so that's a long way of saying it so I
6:26graduated in six to nine I don't want to
6:29join the union because Marx as Mark says
6:31workers of the World Unite
6:34and Poor Dad was head of the teachers
6:36union the Hawaii state Teachers
6:39Association hsta
6:41and I didn't want to join the union
6:44so that's why I took a lower paying job
6:46at 48 000 a year and 69 is still pretty
6:48good
6:49and um
6:52I want to say
6:54but then it got to me my uh my economics
6:57teacher was a great guy
6:59so when I got back I went I went back to
7:01visit my school the academy
7:04I sat down and talked to him I said
7:06what's it like to fly a B-17
7:08what's it like to get shot down what's
7:11it like to be a prisoner of war
7:14and the more he told me how horrible it
7:17was I said I want to do that
7:20and so in 1969 I quit a relatively high
7:23paying job of 48k a year only working
7:25seven months a year
7:27at five months off
7:30so I joined the U.S Marine Corps proving
7:33I'm not the brightest guy on the in the
7:34Box I went from making 48 000 a month to
7:38200 a month no 48 000 a year 200 a month
7:43and it was it was a shock
7:46so I went from this you know nice cars
7:48all that stuff
7:50to making 200 a month as a Marine
7:52lieutenant
7:53and I go to flight school in Pensacola
7:55Florida
7:57and I've gone to Vietnam I went to Camp
7:59Pendleton California
8:01got my I flew the helicopter gunship
8:05because I was going to fly the C-130 400
8:08prop job
8:10and it was the most boring thing you
8:12know I flew once from Pensacola Florida
8:14to California
8:16I said this is boring you know
8:19that's the good thing to C-130 at a
8:21coffee pot in it because otherwise it'd
8:23be sound asleep you know so it's a long
8:26way of saying it so I'm sitting there
8:27and I go back to my got back to
8:29Pensacola Estella Marine lieutenant
8:32and I say what's the fastest way to
8:34Vietnam
8:36because I my English my English economic
8:39economic teacher at the Academy
8:42was telling me it was like to fly and
8:44got shot down
8:46and so what's the fastest way to Vietnam
8:48and this is in 1969 he goes gunships
8:53eyes of the helicopter gunship so why
8:55why gunships
8:57and they said because they're getting
8:59shot down you idiot
9:01he says you guys don't last for very
9:03long he says it's 30 days your life
9:06expectancy once you got to Vietnam was
9:0830 days
9:11and you know Vlad
9:13it turned off most people
9:16but being a marine improving not the
9:18brightest guy in the world I said I want
9:20to try that but again it was my
9:22economics teacher from the academy who
9:25told me I would like to fly a B-17 and
9:27got shot down I said
9:29man that's a life experience I don't
9:31want to miss so anyway
9:33so by 1972 I'm flying in Vietnam off a
9:37carrier helicopter gunship and I went
9:39down three times
9:42and it was the best experience of my
9:44life
9:46it's hard to imagine that but exactly
9:48what my economic teacher was telling me
9:51I had me read The Communist Manifesto
9:53and all that
9:55and the reason it was good thought is
9:57because in Vietnam I saw communism
10:00you know I saw it in real life exactly
10:02what Marx was saying was happening in
10:04real life
10:05and the sad thing Vlad is that is now
10:07here in America
10:09you know academic system are communists
10:11just like my poor dad was actually a
10:14Marxist
10:15you know because he never read The
10:16Communist Manifesto
10:18but he believed in teachers union he
10:20believed in the abolition of private
10:22property
10:24he believed in taxing the rich all these
10:26things Marx proposed
10:28but because most School teachers have
10:31never read The Communist Manifesto were
10:33teaching communism to our kids today
10:36so that's my long way of answering my
10:38question to you is what why I'm so
10:40messed up
10:43I mean you got shot down three times in
10:45Vietnam
10:46um did you actually kill anyone during
10:48the whole gunship era lots of people
10:52okay but anybody any idea how many if
10:54you were to guess what was that any idea
10:57how many if you were to guess well I was
11:00also what's called a FL
11:02um for an Arab for an observer
11:05and so I flew the um
11:08my job was to call in
11:11strikes and one thing about the U.S by
11:14the way this is my uh I wrote this book
11:16here is called Eight lessons in military
11:19leadership and that's my co-pilot there
11:22and that's me there where young kids you
11:24know we're like 25 years old making 250
11:28dollars a month flying the gunship there
11:31and uh so what we would do is we'd call
11:34in the U.S military
11:36and when people when you listen to how
11:38powerful the U.S military is one Carrier
11:41Squadron we have seven carrier
11:44squadrants today
11:462023 each Carrier Squadron has more
11:49Firepower than most countries do
11:53and so when a little helicopter gunship
11:55goes up in the sky
11:57and they say we're going to call in an
11:59airstrike you don't just call it an
12:01airstrike you call in the Air Force the
12:04Navy the Marines the army
12:07and what happens is
12:10we start coordinating it that's what
12:12we're trained to do that's what's called
12:14Eight lessons of military leadership
12:17and
12:19in just a few hours we wipe out
12:22thousands of people men women civilians
12:24everything The B-52s the Air Force would
12:27come over and they just opened their
12:29Bombay doors
12:31and then the Navy would pound them with
12:3316 inch guns
12:35and then the Marines would go in the
12:38army would go in Via helicopters
12:41so
12:43um the reason I talk about the Communist
12:45metal festo is I saw communism in real
12:49life
12:50and unfortunately it's inside America
12:52today
12:54and that's my big concern okay our
12:57school systems
12:58are communists I hate to say that
13:02but uh that's why that's why we have
13:04post-modernist education in school today
13:06I mean my family
13:09uh Japanese
13:11were locked up in prisoner of war camps
13:14in California
13:16and they don't talk about that you were
13:19part of the actual internment camps
13:20during World War uh World War II my
13:22relatives were uh because I was in
13:25Hawaii
13:26and my relatives in California are 100
13:28Japanese they got locked away they had
13:31they had their homes their Farms or
13:33everything taken away from them and
13:35locked up
13:36and so my family this is in the World
13:39War II
13:41I had five uncles the way we get out of
13:43prisoner of war camps they volunteered
13:46for
13:47to form the 442nd infantry battalion
13:50this is back in World War II
13:53and the 442nd Army infantry battalion
13:56became the most highly decorated
13:57infantry battalion in U.S history and
14:00the reason was is because we want to
14:02prove we're Americans we weren't you
14:05know the Japanese bomb Pearl Harbor but
14:07we're Americans
14:08so I had five uncles fight in Europe
14:11against the Italians and the Germans and
14:14I had two uncles fight against the
14:16Japanese in World War II and one uncle
14:19was captured
14:21and he got put in a comp you know Pow
14:24Camp so the Japanese are very very
14:27um and they don't talk about that one
14:29you know because they locked up American
14:31citizens
14:33and my uncles in Europe were the the
14:36guys that freed buchanrest which was a
14:39Jewish prisoner of war camp
14:41so our family has been fighting for most
14:44of our as part of our heritage I'm my
14:47class is Samurai class
14:49so we we like to fight so that's why I
14:52went to Vietnam so long I I thank you
14:54for the time because I don't get to
14:55explain that too often but that's why I
14:57show you this here it listens to
14:59military leadership the Marine Corps and
15:02the academy taught me a lot about life
15:05you know that today in our what do you
15:08call it was woke schools and those
15:10snowflake schools you can't hurt
15:13somebody's feelings and all this
15:15well God Almighty what are we raising
15:17you know in the Marine Corps they're
15:19called
15:19[Laughter]
15:22so by 1974 you left the military I got
15:27more than left I got court-martialed
15:29oh
15:30I have this and that like Trump he and I
15:33got friends
15:34we had disciplinary problems
15:36so in 784 I was a Marine lieutenant and
15:40they uh
15:41I was stationed in Hawaii at Marine
15:43Corps Air Station Kaneohe Bay Hawaii
15:46and uh
15:49I started using my helicopter for fun
15:52and Fun and Profit
15:54and they they uh the Marine Corps did
15:57not take kindly to that
15:59so I got my second Court marginal
16:03and uh
16:05but was the best thing that happened to
16:07me because anyway but it was good
16:09because I I am now was Tickler to obey
16:13the law if you know what I mean is I was
16:15breaking the law I mean there's no way
16:16about it you know that movie Jack
16:18Nicholson A Few Good Men
16:20he goes you can't handle the truth
16:23That's a classic line
16:26so I was a Marine lieutenant sitting
16:28there
16:29and the the uh the prosecutor Captain
16:33Abrams
16:35he says hey tell us the truth
16:38and I was so sick and tired of lying
16:40Vlad
16:41because
16:43when the military comes down on you they
16:45come down on you
16:47and I in the investigations are tough
16:50so I sat there one day I almost I
16:53couldn't stand lying anymore so I said I
16:55said Captain Abrams I said I'm going to
16:57tell you the truth so I sat there for
16:59three hours left
17:01the whole truth nothing but the truth at
17:04the end of it I said how many years will
17:07I get
17:09he just smiled at me this little Jewish
17:12captain
17:13he go looks at me and goes
17:15Son thank you for telling the truth
17:18you'll have an honorable discharge in
17:19six months
17:21and that's when I learned Vlad one of
17:23the most important lessons in life
17:25the truth can set you free
17:27and ever since then I'm kind of a
17:29stickler on it when I catch somebody
17:31lying
17:32I got a little bit upset you know
17:35because it doesn't do any good
17:37so that's the Marine Corps was the best
17:39thing but it took me getting Court
17:41martial and coming to the truth
17:43then getting kicked out to give me an
17:45honorable discharge
17:47so it was it was a great experience all
17:49around
17:50you know so that's how that's how I
17:52learned by the I learned the hard way
17:56okay so after the military your first
18:00job was with Xerox correct correct
18:03and the reason for that is if you're
18:05going to be an entrepreneur this is it
18:07lessens the military entrepreneurs
18:09my rich dad said to me I said what's uh
18:13what do I have to do to be an
18:14entrepreneur because my poor dad wanted
18:15me to be a pilot fly for the Airlines
18:18and be an employee
18:21I didn't want to do that he says that my
18:23poor dad says be a common employee fly
18:25for United Airlines which my classmates
18:28did
18:30and then I'll get your PhD
18:34and I went I don't want to do that
18:36so I asked my rich dad what should I do
18:38he was my best friend's father
18:40I want to be an entrepreneur like him
18:42and an investor
18:44he says you have to let her sell this is
18:47the interesting thing Vlad
18:49my poor dad and my family because
18:51they're all phds right
18:53teachers
18:54they thought salesmen with the scum of
18:57the Earth
18:58so when I when my poor dad my rich dad
19:01said to me you have to get a job in
19:03sales
19:05I had to go against my poor dad again do
19:08I mean it's like the academic the phds
19:11think salesmen are scum
19:14so I went oh my God you know so I I
19:16argued and bitched and moaned by a rich
19:19dad
19:20I said I don't want to learn how to sell
19:22I don't want to sell you know tell me
19:23something tell me what I can do go back
19:25to school he says you have to sell
19:28and finally rich dad said to me he says
19:31because I was arguing he says Robert
19:34how's your sex life
19:37well after I couldn't fly him into the
19:39deserted islands in Hawaii
19:41my sex life was none
19:44so
19:45I said I looked at my Rich Dad and I
19:48said
19:49I don't have a sex life because you
19:52can't sell you idiot
19:55so with that I went against again my
19:58poor dad's wishes you know PhD Stanford
20:01Chicago Northwestern
20:04and I got hired by Xerox to learn how to
20:07sell and so again my poor dad was all
20:11upset
20:12because I became a Salesman
20:15so I mean that that's the cultural
20:17difference between
20:19a rich man was an entrepreneur and a
20:23poor man
20:24who was a PhD at the at schools
20:28okay
20:29okay now while you're still working at
20:32Xerox you attended something called the
20:35Erhard
20:36seminars training EST
20:40okay asked it was the first new age
20:42seminar I did
20:45you did do your research because I I
20:47joined the I joined kind of the new Ager
20:50group you know what I mean so again I
20:52was crossing all kinds of lines
20:55uh especially from the Marine Corps
20:59I was joining the hip one more thing is
21:01when I when I landed at Norton Air Force
21:04Base in 72
21:06uh 783
21:10the hippies were out there and I got hit
21:12by eggs and spit on by the hippies
21:15they were protesting the military that's
21:18called a baby killer and all that
21:20and that's when I realized Marx's
21:22Communist Manifesto was coming true you
21:25know Communist Manifesto said communism
21:28would evade America in two stages
21:31so stage one the kindness Manifesto was
21:35written in 1848.
21:37and in 1930
21:39Columbia universities Teachers College
21:42imported communist teachers from from my
21:45uh Germany
21:47and they started teaching communism
21:50at Columbia universities Teachers
21:52College in New York
21:53and that was 1930 in the 1960s when I
21:57was a school in New York that's when the
22:00first riotings broke out in school then
22:03there was Kent State you know where they
22:05shot the students and the writing broke
22:07out against the war
22:09so that's when I knew that Communism had
22:11come to America via our education system
22:14specifically Columbia University
22:17so this whole thing was I was watching
22:20history in the making
22:22and um
22:25I saw it for real life in Vietnam
22:28I saw what Marx had written was coming
22:30true so stage one in my opinion happened
22:33in 1930
22:35stage 2 was when a media
22:39becomes communist
22:41and I saw stage two when this is my
22:44friend here
22:46Donald Trump
22:48and a lot of people hate the guy but
22:51he's a great guy you know I know
22:52personally
22:54and uh stage two happened of Communism
22:57with social media took him down on you
23:00know Twitter and all that stuff we got
23:01censored flood
23:03do you know what I mean and censorship
23:05is very very communist
23:07the the you know the abolition of free
23:10speech
23:11so we're in serious trouble right now
23:13when my friend Trump gets taken down by
23:15the the ultra Rich liberals in Silicon
23:19Valley
23:21and I don't I don't care if you don't
23:22like the guy
23:24but let them speak
23:26the same as what we're doing right let
23:28us speak
23:30well the uh the Earhart seminars that
23:34you attended
23:35some people had some criticisms of it uh
23:38they called it a cult they called it
23:40mind control they claim they were
23:42forming an authoritarian Army
23:44I mean from your point of view is any of
23:46that true
23:47well asked it was what's called Earhart
23:50you know um
23:53but anybody who does something different
23:55is criticized everybody I'm sure you
23:59have your critics I have my critics
24:00right so Earhart seminar's training was
24:04asked was was creating such powerful
24:06changes in people's lives
24:09that uh naturally got criticized but I I
24:12went to listen to it from I went to it
24:13was two days two two days trainings in
24:17Honolulu I came out of there
24:20and and that's when I realized I better
24:23change me if I want to change the world
24:26change me
24:27and that was a powerful statement
24:29because I could blame the world
24:31or I could change me
24:33and it was a very empowering
24:35self-awareness
24:36four-day seminar
24:38got it
24:40okay so you're working at Xerox and then
24:43at age 30 Back in 77 you decided to
24:46start your first company right which was
24:49called rippers right
24:52thank you thank you and these are like
24:55the Surfer Style nylon velcro wallets
24:57which I remember as a kid I used to have
24:59I don't know if it was a Ripper's wallet
25:01but it was those wallets were really
25:03popular you know during like the late
25:0570s early 80s I remember this
25:08okay so you started this company and
25:11what happened with this first company
25:13well it was my uh wasn't my first
25:15company but
25:17when I was at the Academy in New York we
25:20used to we had we were our number one
25:22sailing school in America
25:24in on Long Island Sound
25:27so we used to take sales and we make
25:29wallets out of them because when we're
25:31on the ocean with leather wallets they
25:33would get it wet and rot
25:35so in 1977 when I'm now out of the
25:38academy out of the military
25:40and think of my first Venture I'm still
25:42at Xerox
25:44and I figured what's my first product
25:46and my friends and I said well that
25:49wallet you care is kind of interesting
25:51and it was it was a was a crude full of
25:54wallets so we took that wallet to
25:56um Korea we had to make them
25:59and we imported them back to the States
26:03and so that was my first product we made
26:06a
26:07we made Runners World magazine we made
26:10uh those other mines gave me but we're
26:14very very successful
26:16so the wallets were taken off all over
26:18the world
26:20and I was out of money we couldn't
26:22Supply the demand you know it takes a
26:24lot of money to buy inventory
26:27so we're out of wallets
26:30and then uh
26:33my CFO at the time I didn't trust the
26:37guy
26:38but anyway because he was willing to
26:40work for basically for free his name was
26:42Stanley
26:44so he said raise some money so I raised
26:47another hundred thousand dollars
26:49from My Poor Dad my poor Dad's second
26:52mortgage this house he's a good guy my
26:54dad was
26:55he says if this is what you want to do
26:57be an entrepreneurial support you
27:00rich dad turned me down and says why
27:01should I give you money because you're
27:03an idiot you know it's just you have a
27:05bunch of crooks as partners which was
27:07true my CFO a CFO Stanley and my CEO
27:12John
27:14and he says um I'm not going to help you
27:16my poor dad did
27:19so I gave the check to my CF file
27:22Stanley
27:23and I said Stanley will this solve the
27:25problem
27:27and his spouse yes I will
27:29and it did solve the problem is problem
27:33he took that check cashed it and paid
27:37off his investors
27:39so I was out of money I thought all my
27:42investors including my poor dad
27:44and we went down
27:46and so that was one of the first lessons
27:48kind of I learned
27:50about real life is he got be careful who
27:53you do business with
27:55and just because the guy's a CPA and
27:57another guy's got his MBA doesn't mean
28:00they're honest people
28:02and that's really one of been the
28:03hardest things I had to learn is a
28:06college degree it doesn't mean you're
28:07honest
28:09as you know that I know that I know that
28:11now
28:12and uh the whole business went down
28:15because Stanley ran off with the money
28:18okay you file for bankruptcy no I never
28:21did oh you never did okay got it but you
28:24shut down the whole business after that
28:25right well it was more gone
28:28you know we were just toast
28:31and uh
28:32it's a lesson you know like you just
28:34keep learning
28:36so um but the experience was good
28:39because I learned a lot
28:41and from there
28:43I just kept stumbling along
28:47and uh
28:49went back to real estate started making
28:52my money back there I paid off my father
28:56it wasn't one of the best lessons I ever
28:58had Vlad now I rich dad had to declare
29:02bankruptcy about 20 years later and
29:05we're a very successful company it was
29:07for the same reason Vlad
29:11the CFO
29:13sued us and put us took us down
29:17it's really interesting you know what I
29:19mean it's even though we're a successful
29:21it's those guys as academic guys the
29:24guys the a students
29:26who took us down every single time
29:28because they don't know how to make
29:29money
29:30you know this guy was one was a CPA and
29:34one was an MBA
29:36the CEO
29:38and they're a bunch of crooks
29:41so when you look on my records I don't
29:44have I don't have a personal bankruptcy
29:45but Richard has a bankruptcy against
29:48them because our CFO again a CPA took us
29:52down
29:55okay so you leave Xerox in 1978 at age
29:5931. and then by 1980 you started another
30:03company where you were licensing heavy
30:06metal uh rock band T-shirts yeah
30:11okay
30:13and
30:14you use the money from this company to
30:17start investing in stocks in real estate
30:19I never invest in stocks I don't trust
30:21the stock I don't trust the stock market
30:23you can I'm not saying don't do it I
30:25just don't trust them yeah so I like
30:28real estate because I'm the investor
30:31I don't need to trust anybody else so
30:33anyway the the point is on that um
30:38uh
30:40I got into heavy metal simply because
30:43there was this company called 98 Rock in
30:46Honolulu
30:47and that nice logo at 98 Rock you know
30:50this is in the 80s I guess
30:52and I got into 98 Rock we took that
30:54brand worldwide
30:56just 98 Rock FM Honolulu
31:00and then a band called Pink Floyd called
31:02me
31:03and there are they had the you know the
31:05book that the music teacher teacher and
31:09the wall and all that stuff
31:12so uh
31:14the rock bands contacted me
31:16and therefore there's another band
31:18called Judas praise Iron Maiden Van
31:21Halen Boy George and the police
31:25so suddenly Vlad out of pure luck
31:29I was in rock and roll
31:31and as they say sex drugs and rock and
31:34roll I loved it man I was
31:37so much fun that I was selling uh silk
31:39screen so I got a wallet and I still
31:42screened the police thought I'd get a
31:44hat still screen the police on it and
31:46got you know all the stuff and this
31:48so-screen Van Halen Boy George and all
31:50this same problem but too much success
31:55we couldn't Finance the inventory
31:58you know what I mean it's Success is Not
32:01easy
32:03and again it was another lesson but
32:05thank God the lessons before that
32:07and that's and and it's just been one
32:10big experience to keep learning well
32:13then by 1985 the The Rock T-Shirt
32:16Company went under as well and you're 39
32:20years old at this point now it didn't
32:21really go under I just got kind of tired
32:23of it okay and uh
32:27what I was starting to do was teach at
32:29that time
32:31and uh
32:33I found out I I had been a guy named R
32:37Buck Mr Fuller kind of invented geodesic
32:40dome and all that
32:42and so all through my life I studied
32:44Bucky Fuller you know
32:47and he got to me
32:49uh
32:52one day I was teaching it I was with him
32:55in at a a seminar
32:59it uh in uh outside of what he called
33:03that Reno Nevada
33:05and I was just he asked he asked the
33:08question he says what does God want you
33:10to do
33:11I'm not really religious I'm not
33:13pitching anything here
33:14he says all of us are born with a
33:16purpose in life
33:18says what does God want you to do
33:21and he got to me if you know what I mean
33:24and I said well we don't teach money at
33:27school and I think I do understand about
33:29money now
33:31and with that point I started to teach
33:33entrepreneurship for free in Hawaii
33:38and the more I did that the more I found
33:41out Vlad magic happened
33:44because I wasn't doing it for me this
33:46time I was doing it for what Fuller
33:47called the universe to give back give
33:50back your gift
33:52and so that teaching in Hawaii wound up
33:57to be Rich Dad Poor Dad
34:00I told the story of Two Dads and that
34:03became my what I'm supposed to do
34:06okay well I mean before you actually you
34:09know publish the book uh you started a
34:12firm called money in you
34:14yeah yeah yeah yeah yeah I just started
34:17I was just teaching for it
34:19exactly so you're basically teaching
34:22about financial education but you know
34:24at that time what really made you know
34:26made you qualified because you had two
34:28businesses that ultimately
34:30you know you shut down but you're
34:33teaching people Finance so was there a
34:36little bit of uh you know sort of a hill
34:38to get over to try to prove to people
34:40that you actually knew what you were
34:41talking about at that point
34:43those are very good question because we
34:45taught for your games
34:47and we what we're teaching again money
34:50in you is about the teachings abutments
34:52of Fuller
34:53uh our schools teach us not to make
34:55mistakes
34:56and what Fuller says we learn by
34:58mixtakes you know baby can't learn to
35:00walk unless they fall down
35:02so the reason what many people fail in
35:04life is because they're a feel of
35:06failing
35:08so I started I I I was a little student
35:11teaching the game a teaching from
35:13another student another instructor
35:15and I was just teaching games via I mean
35:18I teaching via games encouraging people
35:21to make mistakes
35:23and how to learn from your mistakes so
35:25that was the process so it wasn't about
35:28me getting smarter making them smarter
35:30it was basically teaching them how to
35:33make mistakes and get the principles you
35:34know like if you're a baby and you fall
35:36down you learn something
35:39so my my biggest lessons was learning
35:41from people I thought were smarter than
35:43me like the accountants and the
35:45attorneys
35:46and they turned out to be Crux
35:48Jeremy it was my lesson because I
35:51thought like my poor dad was a PhD I
35:54should listen to him but he was poor
35:57and by people listen to poor people did
35:59you feel what I mean
36:01and my My Poor Dad lost everything
36:04because he ran full attendance governor
36:06of the state of Hawaii as a Republican
36:10and when he lost the election the
36:12governor fired him basically saying
36:15you'll never work again so when my poor
36:17dad lost everything he lost his pension
36:20also
36:22and so out of all of these life
36:25experiences came Rich Dad Poor Dad but
36:27it was teaching people how to make
36:29mistakes
36:30yeah this almost uh reminds me of a I
36:33think a quote in Warren Buffett's book
36:35that I read a while back he said that uh
36:37Wall Street is the only place on Earth
36:39that someone takes a train
36:42to give someone Financial advice who
36:44drives a Rolls Royce that's one of my
36:47favorite sayings also in other words
36:50these guys who are financial planners
36:52are sales guys
36:54yeah they're not rich people they're not
36:56really investors
36:58right and so I'm not saying it's wrong
37:00but I don't I don't I don't have a 401k
37:04I don't save money
37:06and I don't invest in the stock market I
37:09am an entrepreneur I can create my own
37:11assets
37:13yeah I mean me personally I'm a stock
37:15guy and you know I do my own investing
37:18but I remember the very beginning when I
37:20first got some money I I got a financial
37:22advisor and I remember in our first
37:24meeting the first thing I said was
37:26how much money do you have what's your
37:28net worth and he kind of was shocked he
37:30said no one's ever asked me that before
37:31and I'm like no one's asking that before
37:33why would I invest my money with someone
37:35who has less money than me that that
37:36doesn't make any sense and you know
37:39ultimately ended up leaving after a few
37:41months and just ended up doing my own
37:43investing uh myself I own real estate as
37:45well you know the house I live in but
37:46you know most of my my wealth was in the
37:48in the stock market but you know
37:51it's almost like everyone has their own
37:53preference me and Grant Cardone have had
37:55a lot of you know interviews about this
37:57and so forth and you know we have our
37:58debates but ultimately as long as you're
38:00investing in something you're going to
38:01end up okay at the end that's how I look
38:04at it yeah that's that's but that's what
38:07I'm saying we learned by a life
38:08experience learn by mistakes we learn
38:10from Bad Teachers and good teachers
38:13and uh the reason I like real estate is
38:15I kind of have to do it on my own
38:19you know I'm not buying or there's a
38:21thing called Reit Real Estate Investment
38:23Trust right so you can invest in real
38:25estate via paper which is REITs you can
38:28invest in gold via you know GLD GLD
38:32right and ETF or an SLV which is silver
38:36I don't touch any of that stuff I own my
38:39own gold mines I have my own silver
38:40mites I took one of my gold mines public
38:44this this summer last summer 2022
38:48on the New York Stock Exchange it's the
38:50richest gold mine in America but Vlad
38:54you got me stupid mistakes I had to make
38:56to get there I bet I got it that was
39:01that's what we were teaching that we
39:02make mistakes of how we learn
39:05but our schools punish if you make
39:07mistakes
39:10well you do these seminars and at age 46
39:13in 1993 you wrote your first book which
39:17was if you want to be rich and happy
39:19don't go to school correct
39:22uh now this was before Rich Dad Poor Dad
39:25when you when you put out this book was
39:28it successful at all or no I became a
39:30bestseller
39:32oh really yeah no but this is this is it
39:34Vlad it goes back to my decision to
39:37become a Salesman
39:39as my rich dad said to me if you can't
39:41sell you won't get laid
39:43well if if you can't sell you shouldn't
39:46be an author because I'm a best-selling
39:48author
39:50and all the academic types like the New
39:53York Times and the book companies and
39:54all this
39:55they attacked me
39:58they said you're not a good writer I
40:00said well that's why I flunked out of
40:01high school
40:02because I can't write
40:04but it's not that I couldn't write flat
40:06the teacher did not like what I was
40:08writing there's a difference
40:11so enriched so I went this is the story
40:13you want to be rich and happy don't go
40:15to school Simon and Schuster called me
40:19and I went to New York and I sat down
40:21with Simon and Schuster
40:23and they uh the head guy sat down there
40:26he says this book you probably if you
40:27want to be rich and happy don't go to
40:29school it's a pretty good book I could
40:31take it now
40:32but this guy looked at me as trendizes
40:34you you haven't told me what you know
40:39when I sat down I looked at this guy
40:41said what have you haven't told anybody
40:43he says I know you know something what
40:45do you know this guy was like psychic or
40:48something
40:50and I said I went back home I said what
40:52do I know
40:53he says when you write the book of what
40:55you know you'll have an international
40:57bestseller because Rich Dad if you want
41:00rich and happy don't go to school was
41:01pretty good
41:03it wasn't you know it wasn't a mega
41:04bestseller but it was making its way
41:06through the rounds because I could sell
41:07it
41:09and so finally I sat there and I was
41:11sitting I was doing a real estate
41:12development in Arizona
41:15at night I would sit out in my little
41:16house
41:17and I was typing my new book out and all
41:19of a sudden I'm typing this new book and
41:21it goes what do I know what do I know
41:24and all of a sudden it came out I had a
41:26rich dad and I had a Poor Dad
41:29and that was the start of Rich Dad Poor
41:31debt
41:33okay so Rich Dad Poor Dad came out in
41:361997. you were 50 years old at the time
41:39and like we had referenced throughout
41:41this interview this was based on your
41:44biological father who was the quote Poor
41:47Dad
41:48and a friend of yours your best friend's
41:51father who's an entrepreneur who was the
41:54rich dad now
41:56you know what I did my research and so
41:58forth a lot of people questioned whether
42:01this person actually existed the Rich
42:03Dad right because there's lots of
42:04references to them I watched some
42:06interviews you said that he owned a ton
42:08of land in Hawaii I guess the the land
42:11that they built the Hilton on in uh in
42:13Honolulu and so forth
42:15um
42:16so did that person actually exist or was
42:18this just a concept you came up with for
42:20the book no I mean I told you the story
42:23I got court module for lying
42:26this this is in 70
42:28304.
42:30and so they really did they exist to
42:32Rich Dad and a Poor Dad
42:34and and the and I want to ask by a Rich
42:37Dad I said would you mind speaking off
42:39of me and the family said no and I want
42:42you to know something flat the rich
42:44don't tell people what they know
42:47uh you know I I don't you know how many
42:49times I've met
42:51one of my best friends just sold his
42:53business for two billion dollars
42:55he and I started at Xerox together by
42:57the way
42:59and I asked somebody to come and speak
43:00at my company says no
43:04they don't want to tell people what they
43:06do
43:08so there is a rich dad when I asked him
43:10he would help me he says no
43:13so that's that's what really happened
43:14and
43:15so I wrote Rich Dad poured out and then
43:18Oprah called then Trump called
43:21and I don't know if you know if Trump is
43:23a real guy or not but he's pretty he's
43:25pretty real
43:26and he says what's your right is
43:28absolutely the truth
43:30so uh
43:33there's a lot of people that say Rich
43:35Dad doesn't exist
43:36so be it
43:38so be it yeah oh okay Oprah loved it and
43:42Trump loved it
43:44well I like I said I read through the
43:47book but before the interview I went
43:48through and kind of reviewed it and so
43:50forth about some of the concepts
43:52um I think one of the most important
43:54Concepts in the book is that
43:58the rich dad feels that wealth is
44:00measured in time whereas a poor dad
44:02feels that wealth is measured in money
44:05can you explain that that's a very I'm
44:08Vlad you really have done your research
44:10man I'm proud of you see a lot of people
44:12want to get rich
44:14and what my that was my poor daddies
44:17I'll make a lot more money so you got a
44:18high paying job and he kept going back
44:21to school you know so you get a more
44:23High pay
44:24and my rich sense is now it's measured
44:27in wealth is measured in time so if you
44:29quit your job
44:32how long can you survive
44:34so the average person I don't know what
44:36the averages are anymore
44:38but the average American
44:40cannot survive more than a month
44:44you know before the savings or the bill
44:46collectors drag them off to jail or
44:48something
44:49so a lot of Americans make a lot of
44:51money but they have no time on their
44:53money
44:54they cannot survive
44:56so it's a very important question it's
44:57probably relied on the most important
44:59questions you can ask that we should ask
45:01the people listening if you lost your
45:03job let's say you're married husband and
45:05wife and all this stuff you know
45:07and you lost your income how long would
45:10you survive and that's wealth
45:13and so that's why today uh my wealth
45:16will go on for Generations
45:19you know because I have real assets I
45:21thank you for that question Vlad it's
45:23probably the most important question you
45:24could ask me wealth is measured in time
45:26rich is measured in money
45:30yeah what are the best definitions I've
45:32ever heard of the term rich is the
45:36ability to maintain your current
45:39lifestyle for the estimated rest of your
45:43life without having any new income
45:47you know if you're used to living in a
45:50mansion and you're a Ferrari and you can
45:52maintain that for the next 30 40 50
45:54years without any new money coming in
45:56you're rich correct if you know losing
46:00your job you suddenly have to move into
46:01an apartment and go get a Honda Civic
46:04then it doesn't matter how many things
46:06you have at the time you know you're not
46:09really rich correct
46:11yep and the thing is is one more thing
46:13that Rich Dad attitude is if you lose
46:16your job
46:17uh and you stop work you stop working
46:20how long will you survive could you I
46:22mean you don't have to lose your job
46:23saying if you stop working how long
46:25would you survive
46:26and for most people is the next paycheck
46:30yeah they're gone
46:33so they might make a lot of money but
46:35they won't survive so that they have
46:37money but they're not wealthy wealth is
46:39measured in time
46:40so if I if I stop today
46:44my wealth will go on for probably 100
46:46something years
46:48but I'm I'm putting all that my wife and
46:50I putting all back in charities
46:52to what's called a CRT trouble remainder
46:55Trust
46:56so our wealth can go on for Generations
46:59okay
47:01well another concept that you covered in
47:03the book was knowing the difference
47:04between assets and liabilities now Me
47:07growing up in you know an immigrant uh
47:11household
47:12I was always told buy a house as soon as
47:15you can your house is your greatest
47:17asset and so forth and I remember you
47:20know before really I got into my stride
47:22with my current company I had bought
47:26three pieces of property I I first got a
47:30condo then I bought a house then I
47:32bought another condo and by the time I
47:35sold each of them
47:36I may be broke even and I was always
47:39wondering what what am I doing wrong
47:41here but did I just buy the wrong place
47:42and so forth and it wasn't until Grant
47:44Cardone we did an interview together he
47:46explained to me that a single-family
47:47house is not really an asset it's really
47:50a liability it's only until you get into
47:52like six seven eight unit apartments
47:54that really you start having real assets
47:56and real businesses and so forth and it
47:58was like oh like like a light bulb went
48:00up you know over my head you know I I
48:02rented for many many years I just bought
48:04a house last year but I know it's not
48:06really an asset or really an investment
48:08it was just something I did to reward
48:10myself for all the hard work you know in
48:13a place where my family could be raised
48:14but it's not really an asset and you
48:16talk about that how most times your
48:18house is a liability
48:21oh absolutely well it's not their houses
48:23anything the the magical
48:26you know and Grant
48:29he and I have gone gone head to head
48:32with each other
48:34so just to know that so I don't have
48:36much uh I don't push my worth in his
48:38words and you can buy apartment houses
48:41but you don't have to buy an apartment
48:42house
48:43the reason he says that because he wants
48:45to sell you an apartment else
48:47so I I know his ammo and I've gotten
48:50I've gone around and around with him on
48:52this one an acid is very simply
48:54something that puts money in your pocket
48:56so think about this uh so when people
48:59you know they make somebody to buy a
49:01house
49:02but if they stop working that house
49:04starts taking money from their pocket so
49:07it's not an asset you buy a nice car the
49:10car keeps taking money from your pocket
49:12so it's a liability you have three kids
49:16they're definitely liabilities
49:18you know what I mean so it's nothing to
49:20do with apartment houses
49:22and so I think he's missing he got that
49:26idea from me I know that
49:28so anyway it's
49:31it's more than that so anyway so I write
49:34a book
49:36and I get paid probably several hundred
49:40thousand a month from my Rich Dad Poor
49:42Dad
49:42my book is an asset
49:45does that make sense to you so if
49:48if I uh buy a car
49:52and I lease it to an Uber driver it
49:55could be an asset depends on the cash
49:56flow
49:57yeah so it's all depends on the
50:00financial statement income expense ask
50:02and all that stuff
50:04so it's not anything to do with
50:05apartment houses that's he's trying to
50:07sell you an apartment else I don't
50:09recommend it
50:10well I think what he meant was if you
50:13have a number of units and people are
50:15paying rent
50:17you know you actually have a cash flow
50:19based on that which is probably higher
50:22than what you put into it and that's
50:23what he means by you know an asset in
50:25terms of the cash flow of it flat iron I
50:28look he's a smart boy he's a good
50:30salesman he and I have gone at it
50:34because it doesn't have to be an
50:36apartment else
50:38he sells apartment houses he wants to
50:41put you in his deals so that's to me
50:43that's kind of us
50:45promotion if you know what I mean look
50:47it could be as as simple as writing a
50:51book
50:52or you could buy a stock or you could
50:55buy a bond you know let's say the bond
50:57is paying you five percent
50:59I just I don't trust bonds either
51:02yeah but that's the difference it's all
51:04it's all what your uh cash flow is so if
51:08you have cash coming in more cash coming
51:11in from the bond let's say then cash
51:13went out it's an asset
51:15yes that's uh uh my YouTube channel is
51:18is an asset yeah it continues it
51:21continues to make money every day while
51:23I'm sleeping it will continue to make
51:24money for many years uh this interview
51:26people will watch it probably after you
51:29and I are gone and so forth yes uh yeah
51:32and that and that is my most important
51:34accent it's not something in my business
51:36yeah it's that simple
51:38exactly it doesn't have to be an
51:40apartment house
51:42and another thing that you mentioned the
51:43book uh which really struck me was
51:47find a reason
51:50meaning that
51:52when you start your business you have to
51:54have an overall reason in terms of why
51:56you're doing it
51:58is that is that a corrector
52:00explanation again that's the number one
52:03thing I learned in the military school
52:05the academy what's your mission on life
52:09yeah it was just to make money why don't
52:11you just go
52:13be a hooker or something you know sell
52:15drugs
52:16but is I I really sincerely naively
52:19Maybe
52:20I believe you have a mission I have a
52:22mission everybody else has a mission
52:24what does God want you to do so that's
52:26what I'm saying is when I'm at
52:27Buckminster Fuller
52:29his question is what does God want you
52:31to do
52:32and the reason a lot of people don't do
52:34it is because they don't know how to
52:35make money at it
52:38does that make sense to you
52:39so they they just keep working for
52:42somebody to keep doing what they do or
52:43they
52:44you know but they don't ask themselves
52:46what does God want you to do
52:48so when I met Fuller
52:51I said I think I should teach money
52:55and that was kind of my I mean I didn't
52:59start doing it immediately
53:01but that's when I started to teach and
53:03all this stuff as I'm practicing
53:05and a lot of times I work for free for
53:07years just trying to figure it out
53:11but that's what they teach in a Marine
53:12Corps you know your mission is more
53:14important than the money
53:16um
53:17so um and that's what I just I said oh
53:20my God
53:22you know my rich dad taught me Acid
53:24versus liability to your house it's not
53:26an asset um
53:28but I didn't know it was so it wasn't so
53:30obvious to me at the time
53:33yeah I mean the mission is more
53:35important than the money I think that's
53:36uh
53:37that's a just a great great statement
53:40because it
53:42when you have that in mind you don't try
53:46to grab every dollar out there because
53:48there's going to be so many
53:49opportunities for you to make a little
53:50bit of money here a little bit of money
53:52there you know you might have to bend
53:54your morals and so forth but if you have
53:56an overall mission of what you're doing
53:58then you're focused on the big picture
54:00and you let all the little money you
54:03know opportunities go to focus on what
54:06it is like your main mission is and and
54:09everyone I know the successful has that
54:11exact same uh methodology
54:13yeah and the trouble with if you do a
54:16mission and you cheat lie and steal like
54:19a lot of my CFOs and CEOs did
54:23they didn't get my mission their mission
54:25was to take my money and then so I think
54:28you know Vlad I would think I think you
54:30right now operating pretty close to your
54:32mission I I don't know because not God
54:35but but if things are working well for
54:39you
54:40you're probably even when things are bad
54:42you're still on your mission you know I
54:43mean but the question is what does God
54:45want done that's the question
54:48yeah I mean my mission you know after it
54:51took me a few years to kind of figure it
54:52out was it was to document important
54:55people their life stories of this era
54:58wow that's it wow that's the mission
55:01yep wow yeah that's the mission of black
55:04TV and the understanding is is that not
55:07everyone who I interview will get a big
55:09Netflix documentary and and you know
55:11have millions of dollars behind their
55:13project but I have gotten so many
55:14people's stories that have passed away
55:16you know actors and athletes and
55:18musicians and so forth that people can
55:21go back and listen to their story first
55:24hand from their own mouth them telling
55:27the story me guiding the overall story
55:29but them telling the story themselves
55:31and I just felt like if I keep doing
55:34that over and over again I'll be
55:35creating what I call Evergreen content
55:37which is not just something that's going
55:39to be popular today it's going to be
55:40popular 5 10 20 30 years from now and 15
55:43years later we have videos from 15 years
55:45ago that still continue to give views
55:47and that's that's my mission
55:49congratulations my friend
55:51thank you congratulations very few
55:53people achieve that yeah because people
55:55like you are part of that mission you
55:57know I mean part of my overall mission
55:59so I appreciate the time of you sitting
56:00down telling me your story yeah now when
56:03you wrote Rich Dad Poor Dad like I said
56:06you know you've already had a book that
56:07was successful but when you wrote this
56:09did you think oh this is going to be
56:11world changing and this is going to be
56:13my biggest project ever or it's just
56:15another book for you no that's like I
56:17said I you know I flunked out of high
56:18school because I couldn't write
56:20and it wasn't because I couldn't write
56:22it's because a teacher didn't like what
56:24I was writing but I was just doing what
56:28for Bucky Fuller said
56:30he says what does God want done
56:32and it was that uh
56:35the editor in New York for Simon and
56:37shusha says when you tell me what you
56:38know you'll have a bestseller so I was
56:41close with if you're on a bridge and
56:42happy don't go to school
56:45but that question Tommy what you know
56:48and I think that's a good question for
56:50everybody listening to your program Vlad
56:52what do you know
56:54what do you know that maybe schools
56:56don't recognize
56:58do what I mean what what sits inside
57:01your soul and so I need to talk about
57:04this I need to do this I need to do that
57:07does that make sense to you I mean yeah
57:09absolutely absolutely well when the book
57:13came out
57:14it ended up on the New York Times
57:15bestseller list for six years
57:21boom now let me show you something
57:28this is Publishers Weekly
57:31it's this month
57:342023 February
57:37Publishers Weekly is the Bible
57:40Rich Dad Poor Dad number one oh 25 years
57:45flat
57:46I know 25 years
57:50you know I wish my English teacher was
57:51alive I'd rub it in his face
57:5625 years still number one that's
57:59impossible all over the world
58:02yeah and I still can't write I mean you
58:05know I flunked out of high school
58:06because I can't write
58:09there's nothing I couldn't write the
58:10teacher didn't like what I was writing
58:13right well you even said in one of your
58:16interviews that writing is not your
58:17passion it's just a means to what you're
58:21trying to do uh overall what does God
58:24want done yeah with your business what
58:26does God want done yeah a lot of people
58:29do what you know they volunteer for
58:31social social work or volunteer work and
58:34all this it's what would you do for free
58:36forever
58:37yeah I mean that's what it comes down to
58:41I would do this with you forever
58:45yeah I mean having conversations with
58:47people like yourself is something that I
58:49would do even if I wasn't getting paid
58:52yeah
58:53yeah so so yeah exactly on the same on
58:56the same page here okay so the book
58:59comes out
59:00was
59:02the interview with Oprah is that what
59:04kind of put it over the top
59:07that was one of them but I was already
59:09on the bestseller list ah okay do you
59:12want to man the way it happened was it
59:13goes back to being a Salesman again
59:16is uh I wrote Rich Dad Poor Dad and I
59:20was thinking I said
59:21who else is doing the same kind of work
59:23I'm doing in other words you and I are
59:26not alone right
59:27so who else who else can I support so
59:30you're supporting me I'll support you
59:32and
59:34I was very much against network
59:36marketing
59:38you know the pyramids scheme all the
59:40things they say about it so my friend
59:42told me to shape up and shut my mouth
59:44and go check them out so when I checked
59:47out Network Market I said oh my God
59:49they're doing what my rich dad told me
59:51to do is learn how to sell
59:53and you see the hardest thing in life
59:55flawed
59:57is rejection how do you handle when
59:59somebody rejects you
1:00:01so I went to an Amway meeting and I sat
1:00:03there going oh my God
1:00:05they're teaching people
1:00:07what Xerox was teaching me
1:00:10how to handle rejection how do you keep
1:00:12your cool how do you keep pitching
1:00:15so in my little book Rich Dad Poor Dad I
1:00:18put
1:00:18Network the asset is a network marketing
1:00:21it's assets liabilities I said you build
1:00:24a network marketing building it's
1:00:25business it's an asset
1:00:28so when I published Rich Dad Poor Dad
1:00:30nobody would buy the damn book and so I
1:00:32put it in my friend's car wash in Austin
1:00:34Texas
1:00:36and guess who bought the first book
1:00:39an Amway distributor
1:00:43and and he was an orthopedic surgeon
1:00:46and he's still a good friend of mine
1:00:49and he bought the book and he says oh my
1:00:51God he read the book
1:00:54and he sent it up to his upline in
1:00:56Dallas he brought it in Austin he said
1:00:58to Dallas and the and the diamond in
1:01:01Dallas called me up and he says pretty
1:01:03good book you got there
1:01:06and he says would you come my speaking
1:01:08to my group
1:01:09so again it was because I was supporting
1:01:12people doing the same work does that
1:01:14make sense to you and so I started
1:01:17teaching at Amway conventions
1:01:19and guess what the book went to
1:01:21bestseller list
1:01:23and then Oprah founded that Trump found
1:01:25it
1:01:26and it was because I was just supporting
1:01:28people in the same kind of
1:01:31mindset should I say
1:01:33but it goes back to if you can sell
1:01:35you're you're better off you can't sell
1:01:39well uh Will Smith said that he actually
1:01:41taught his son about financial
1:01:42responsibility through your book yeah
1:01:45Will Smith's great guy I'm a metalman
1:01:47what a great time
1:01:50you know and the most important thing he
1:01:52teaches us as kids
1:01:54and and today I'm 76 this year
1:01:59and I meet young people come up to me
1:02:01says my dad gave me your book my
1:02:03grandfather gave me your book
1:02:05and you know what that's better than all
1:02:07the money in the world that
1:02:09is worth more than all the money in the
1:02:12world
1:02:15well in 2006 that's when you and Donald
1:02:18Trump actually collaborated uh on the
1:02:20book
1:02:21uh why we want you to be rich two men
1:02:24one message
1:02:26well you've done your work this is this
1:02:27book right here
1:02:29there we go
1:02:33so I mean um
1:02:35he's a great guy I mean I know he says
1:02:37things he shouldn't say
1:02:39but um
1:02:41his sons and I became even better
1:02:43friends Don Jr and Eric
1:02:46and you can tell you can tell the people
1:02:49from their children if you know what I
1:02:51mean so when I meet people with screwed
1:02:53up children it means there was something
1:02:54screw up in them marriage probably
1:02:58but Donald Trump
1:03:01you know and it's
1:03:04when he I was supposed to write the
1:03:06third book with him
1:03:08and um
1:03:10so I've got 2015 or something I said no
1:03:13I'm gonna run for president
1:03:15and like I said My Poor Dad ran for
1:03:16lieutenant governor for the same reason
1:03:20right because well in 2011 you guys
1:03:22wrote the second book which is Midas
1:03:24Touch why some entrepreneurs Get Rich or
1:03:26why most don't mind us touch her there
1:03:28we go
1:03:29and it's all to educate you know I mean
1:03:32the same thing you and I do
1:03:34we educate Oprah did the same thing I
1:03:37don't think Oprah would support Donald
1:03:38Trump but anyway
1:03:41you know we do it out of the uh because
1:03:43our heart says to do it
1:03:46and we're good we're good at doing it
1:03:51well when you have this much success
1:03:53there's always going to be criticism of
1:03:56course
1:03:58um one of the criticisms is about you
1:04:02know not getting a formal education and
1:04:04so forth and the criticism basically
1:04:07goes that if you look at almost every
1:04:09study out there they say the more
1:04:11education you have that will translate
1:04:14into a higher net worth
1:04:16you know when you look at for example
1:04:17people who have a high school diploma
1:04:21versus people that have a college
1:04:23diploma uh they make roughly a million
1:04:26dollars more with the college diploma
1:04:28than with a high school diploma there's
1:04:30always going to be exceptions there's
1:04:31always going to be the Bill Gates who
1:04:33drop out of Harvard and you know the
1:04:35high school dropouts and so forth who
1:04:37become billionaires but as a whole
1:04:40education there is a correlation to your
1:04:44overall earning potential through your
1:04:46through your lifetime would you agree
1:04:47with that or disagree no
1:04:49I the only question I asked I don't
1:04:51really disagree education is very
1:04:53important you and I are Educators right
1:04:55yeah I have a I have a college degree
1:04:57from UC Berkeley I have a computer
1:04:59science degree for example and you know
1:05:01when I look at my company I remember at
1:05:03one point I thought oh
1:05:04I should have wasted my time at Berkeley
1:05:06I should have just gone into music right
1:05:08away or entertainment and I I missed a
1:05:10head start but now
1:05:12when Vlad TV is 15 years old so much of
1:05:15live TV is a tech company as much as it
1:05:18is a Content company and what I learned
1:05:20in at Berkeley has translated and give
1:05:23me an edge over all my competitors who
1:05:26don't have a engineering background so
1:05:28for me I think education is very
1:05:30important and I don't I don't feel like
1:05:32I wasted my time or my money going to
1:05:35school but you know you you wrote your
1:05:37first book saying you shouldn't go to
1:05:38school
1:05:39now what I'm saying is what the school
1:05:41teacher about money okay I love it you
1:05:44know I grew up in a family of phds
1:05:48so they're Highly Educated poor people
1:05:50PhD stands for poor helpless and
1:05:52desperate
1:05:54and that's why I talk about my father
1:05:55running for lieutenant governor
1:05:57and he lost he ran against the governor
1:06:00the governor fired him and said you'll
1:06:02never work in this state again so I'm in
1:06:05I'm I'm in college at the time at the
1:06:08Academy
1:06:09and my poor dad is now broke PhD didn't
1:06:13help him
1:06:14and so I'll ask everybody this question
1:06:16is again what did School teach you about
1:06:18money
1:06:20answers nothing
1:06:22that's not a mistake Vlad
1:06:24it's part of the Communist Manifesto
1:06:27and that's why I said earlier when you
1:06:28re if you read Marx's book the cap
1:06:30Communist Manifesto It's only 50 pages
1:06:34you'll find out though the first things
1:06:36that there was and this is 1848 Mark
1:06:40says Communism would evade America in
1:06:43two stages stage one happened in 1930s
1:06:47my opinion
1:06:48because he was already dead by 1930.
1:06:51it's happened when Columbia University's
1:06:54Teachers College
1:06:56invited in Marxist teachers from Germany
1:06:59and then I I believe it's my opinion and
1:07:02I'll I'll take I'll take the heat for
1:07:04this it happened in 2020
1:07:07when my friend Donald Trump loses
1:07:09re-election to this guy where in the
1:07:12world is Joe Biden
1:07:14you know I think Biden is one of the
1:07:15biggest criminals we've ever had the
1:07:17Biden crime family
1:07:19and um
1:07:21I don't say what I'm not talking about
1:07:23what he says what is he doing and that's
1:07:26why I said to you is my background is
1:07:28oil
1:07:29however tankers officer's degree from
1:07:32King's Point
1:07:34I understand oil so 2020 the moment he
1:07:37got elected the first thing Biden did
1:07:40was cut down the Keystone XL pipeline
1:07:44which sent oil price I was selling oil I
1:07:47sell oil I mean I own oil wells
1:07:50it's a good investment
1:07:52so I was selling oil in 2020 at 30
1:07:54dollars a barrel
1:07:56it went to a hundred thirty dollars a
1:07:58barrel within a week
1:07:59and immediately I knew what he was doing
1:08:01he was crushing the middle class they
1:08:04need to wipe out the bill of class flat
1:08:06and that's what Mark said also
1:08:08so when the middle class is toast all
1:08:10you have is two classes of people rich
1:08:12and poor
1:08:14and our civilizations run on oil could
1:08:17you imagine if you didn't have
1:08:18electricity or this and all that energy
1:08:21is what drives our civilization and the
1:08:24first thing that son of a Biden
1:08:26did was cut off our oil
1:08:28and then guess what he cuts us out of
1:08:31Afghanistan and when that happens Saudi
1:08:34Arabia just look at the facts not what
1:08:36he's not what the guy is saying
1:08:38when Afghanistan he pulled us out of
1:08:41Afghanistan so many people got wiped out
1:08:43we left nine billion dollars there or
1:08:46something and immediately Saudi Arabia
1:08:48guess who they joined they joined Russia
1:08:51so now our price of oil going is up and
1:08:54then Biden tries to buy oil from
1:08:56Venezuela watch what he said does not
1:08:59what he says so but oil is through the
1:09:02roof because of the because he's a green
1:09:05New Deal guy
1:09:08it's killing our middle class flat
1:09:10inflation is going through the roof
1:09:13and it's going to kill people I don't
1:09:15know how people survive today I was I
1:09:17was at Safeway the other night I was
1:09:19going holy mackerel I mean I have
1:09:22sticker shock and I have a lot of money
1:09:24you know I mean so just watch what Biden
1:09:27does not what he says
1:09:29that's what I'm upset about
1:09:33you had touched on this uh earlier
1:09:36earlier in our interview uh but in 2012
1:09:40a rich Global LLC and applying for
1:09:42bankruptcy
1:09:44and you guys were already paid 24
1:09:45million dollars to The Learning Annex
1:09:48can you talk about what happened there
1:09:50I'd really rather not
1:09:53okay I mean what we're talking about it
1:09:56was just a political move bankruptcy is
1:09:59a way of getting out of a bad situation
1:10:02but everybody thinks of it as terrible
1:10:04it's just a strategic move
1:10:07so if you want a normal call my
1:10:10attorneys
1:10:12okay
1:10:13fair enough
1:10:15well
1:10:16based on Research I did at one point you
1:10:19owned 6 500 pieces of property
1:10:23or is it more than that more than that
1:10:25can you say how many you actually own
1:10:28that's about twelve thousand twelve you
1:10:30know look I played I when I was 10 years
1:10:32old my Rich Dad played Monopoly with me
1:10:35and we all know the formula for
1:10:36greenhouses 1031 tax deferred Exchange
1:10:40so today I own about 12
1:10:43000 rental units but it's not the story
1:10:46the real story is how did I acquire
1:10:48those property
1:10:49I use debt
1:10:51and that's what they don't teach you in
1:10:53school you see the more debt I use the
1:10:55more property I own the less tax I pay
1:10:59and if you think paying taxes is legal
1:11:01tax is a Marxist idea
1:11:04what what Mark oh please you know I hate
1:11:07this and people say well you should pay
1:11:08taxes no we shouldn't
1:11:11what Mark says is that a progressive and
1:11:14oppressive income tax is essential for
1:11:16the spread of Marxism communism that was
1:11:18in 1848
1:11:21America was founded look at the facts
1:11:24this is what pisses me off about
1:11:26academic types the facts are America was
1:11:29founded as a tax-free Nation
1:11:32it was called the Boston Tea Party I
1:11:35think it was 1773.
1:11:38and we were tax free for all of these
1:11:40years until 1913 when the Fed was
1:11:44created
1:11:45in 1913 the Fed was created the same
1:11:48year I guess what else was created
1:11:50the IRS
1:11:52Amendment 16.
1:11:54and ever since then we're paying taxes
1:11:56so guys like me pay no taxes legally
1:12:02but the more harder you work the more
1:12:04money you make the higher taxes you pay
1:12:06if that's not communism what is
1:12:09and I think it's an American duty not to
1:12:11pay our taxes because if you read The
1:12:13Communist Manifesto you'd understand why
1:12:16well in one of your uh YouTube videos
1:12:18you actually said that you're currently
1:12:20600 million dollars in debt
1:12:24no 1.2 billion 1.2 billion okay
1:12:30there we go
1:12:35um your 1.2 billion in debt uh now I
1:12:39looked you up and of course the internet
1:12:41never gets this part right but it said
1:12:43that you have a 100 million dollar net
1:12:44worth which seems very low how would
1:12:47they know yeah I know I don't know
1:12:53I would assume when you're talking about
1:12:55twelve thousand rental units and the you
1:12:59know the publishing Empire and all the
1:13:01seminars and everything that number
1:13:02seems extremely low
1:13:05have you ever actually sat and you don't
1:13:06have to tell me the number would you if
1:13:08you ever actually sat down and figured
1:13:09out your overall net worth uh no I never
1:13:12have but I tell you what again I measure
1:13:14in my wealth
1:13:17if I stop working how much money comes
1:13:19in I've stopped working a long time ago
1:13:22yeah and money keeps increasing and the
1:13:25reason I I talk about debt is because in
1:13:281971
1:13:30when I was in Vietnam Nixon took the
1:13:32dollar off the gold standard
1:13:34I don't tell you that
1:13:36you know and the money became debt
1:13:39and so then these communist School
1:13:41teachers tell you to get out of debt
1:13:43like what's his name uh
1:13:45Dave Ramsey and all that live debt free
1:13:47and that's good advice for the average
1:13:50person because debt will kill you
1:13:53but debt is money today
1:13:55and so when I acquire an asset I use
1:13:58debt so what happens I make money in my
1:14:01let's say my comp my business Book Sales
1:14:04at that point let's say I make a million
1:14:06dollars in books
1:14:08what I have to borrow is like 10 million
1:14:12in debt to buy a property and because I
1:14:15borrow the 10 million I buy a property
1:14:18and let's say the property is 10 I buy
1:14:2110 million it's now a hundred million
1:14:24dollars in all this stuff
1:14:26is the magic call financing I pay no
1:14:29taxes
1:14:30so the more debt I have and the more
1:14:33property I buy the less tax I pay it's
1:14:35called appreciation depreciation
1:14:37amortization if you studied accounting
1:14:40that's what you would learn but most of
1:14:42these academic types live debt free and
1:14:45they own a house they call an asset and
1:14:47they drive their Lexus or the Toyota and
1:14:50they wonder what's wrong with me
1:14:51but they never studied money in school
1:14:56oh yeah I mean I think one of the best
1:14:58moves I did
1:15:00was I ended up buying my current house
1:15:02in cash
1:15:04uh based on leveraging certain assets
1:15:06that I already had and once I actually
1:15:09looked
1:15:11and when you calculate how much you pay
1:15:13in a mortgage
1:15:15it's like you could easily pay triple
1:15:18the price of the house in just your
1:15:20mortgage you know this is why the banks
1:15:22do so well because people don't have
1:15:25that type of liquid money but yeah once
1:15:28you figure out how debt works and
1:15:31good debt versus bad debt and how to
1:15:33leverage it all it's it's really pretty
1:15:35amazing you realize how most of the
1:15:38world is really just being taken for a
1:15:40ride when it comes to home ownership and
1:15:42so forth the banks are the ones that
1:15:44really win even if you start counting
1:15:46the fact that when I looked at all my
1:15:48properties
1:15:49it took me a second to realize that
1:15:51after selling the property after three
1:15:53four five years I still owed about the
1:15:55same because I was just paying interest
1:15:56up front the whole time the the actual
1:16:00balance didn't move all my mortgage
1:16:04payments just went to the bank's pocket
1:16:05so yeah there's a lot of very
1:16:07interesting tricks along the way and and
1:16:10one thing you said that's actually
1:16:11interesting to me is that you own a gold
1:16:13and a sorry you own a gold and a silver
1:16:16mine yourself right but you don't
1:16:19actually like paper gold you like actual
1:16:22physical gold
1:16:23and I just recently just coincidentally
1:16:26I bought a five ounce uh gold bar for
1:16:30about uh ten thousand dollars and
1:16:32actually holding it in my hand was like
1:16:34it's a very interesting experience
1:16:36because like wow this is something
1:16:38that's been valuable
1:16:40for thousands and thousands of years and
1:16:43continues to be valuable today
1:16:46um
1:16:46how much you know if you not not
1:16:49counting the the gold mines and
1:16:50everything else like that how much
1:16:52actual gold have you ever accumulated at
1:16:54one time have you ever actually
1:16:56if you put it all in one place
1:16:59well I'll tell you what it's not in one
1:17:00place
1:17:00[Laughter]
1:17:06uh Vlad you just
1:17:08you're getting an um
1:17:10I love you man what you're saying is so
1:17:13accurate let me go back to something
1:17:14okay
1:17:15I use debt as money
1:17:19okay so but I only use debt to buy
1:17:22assets a lot of people use buy use debt
1:17:26to buy liabilities so I drive a Ferrari
1:17:29guess what
1:17:32it's paid off 100 percent
1:17:35because it's a liability I'll drive a
1:17:37Rolls-Royce it's paid off 100 because
1:17:41it's a liability now so I use debt as
1:17:44money and I don't save cash because in
1:17:481971 the dollar became debt
1:17:52check your dick Nixon took us off the
1:17:54gold standard
1:17:55so at that point I save gold so all the
1:17:59money I make I if I buy something with
1:18:02debt so that's my billion two in debt
1:18:06because if it if I go bust the bank goes
1:18:10bust
1:18:11not my problem you know I mean and all
1:18:14the cash I make is I convert to silver
1:18:16and gold and pretty soon it got to be a
1:18:19big problem which is why I own Bitcoin
1:18:21also
1:18:22because I just don't trust the freaking
1:18:25dollar
1:18:26I don't trust the FED I don't trust the
1:18:28treasury and I don't trust Biden do you
1:18:30know what I mean I just don't trust
1:18:32those guys you want to trust them knock
1:18:34yourself out but anyway so I save gold
1:18:37and silver then it got to be a problem
1:18:39because over this like since 1971 it was
1:18:4373 I've been buying gold and silver
1:18:47yeah and it gets to be a problem
1:18:50and then what happened in 1933 if you
1:18:53know history
1:18:54is FDR confiscated gold
1:18:58so can he do it again possibly not him
1:19:01but you know Biden could
1:19:03so I don't keep my goal inside this
1:19:06country legally I was I used the words
1:19:08legal I hire attorneys and all that
1:19:10because I don't want to go to jail and
1:19:13dance to Hula for some boy you know what
1:19:14I mean I just not I'm not into this
1:19:16transsexual stuff I don't want to go to
1:19:18jail and spend time with boys
1:19:20so that's why
1:19:22I get my gold and silver outside this
1:19:25country legally everything is done
1:19:27legally I hire the best accountants the
1:19:29best attorneys
1:19:30but I'm saying without you hitting on it
1:19:32I don't save cash I use debt
1:19:36and when I use debt I save gold and
1:19:38silver
1:19:41well when it comes to investing in
1:19:44you know assets like gold and silver or
1:19:47diamonds and so forth I remember you
1:19:49know like the book that really changed
1:19:51my life was Warren Buffett's uh the
1:19:53snowball
1:19:55that that was when I first started
1:19:57getting money and I said okay who is the
1:19:59the Michael Jordan of investing and
1:20:02Warren Buffett you know was that guy and
1:20:05and when he talked about stocks versus
1:20:07Golds he explained in a way that made a
1:20:10lot of sense to me he said that
1:20:12in terms of Investments it's very
1:20:15difficult for something like gold to
1:20:16invest to compete with something like a
1:20:19stock in like an Amazon or a Google
1:20:21which I both own because when you have
1:20:24gold
1:20:25it maintains it does maintain its value
1:20:28but your it doesn't actually do anything
1:20:31it just sits there and you have to store
1:20:33it and you know Fort Knox you have to
1:20:35have you know uh security and so forth
1:20:37but it sits there and it's hoping that
1:20:40someone will pay the same or more for it
1:20:43over time whereas when you look at the
1:20:46same amount in a stock like Amazon it's
1:20:49making money every day or like you know
1:20:51he compared it to a farm let's say like
1:20:53a farm continues to make money and keeps
1:20:55it keeps generating money gold on the
1:20:57other hand doesn't generate money
1:20:59so why do you prefer an investment in
1:21:02Gold versus stocks
1:21:04I don't touch stocks that's why
1:21:06okay so you're just anti-stocks
1:21:08altogether well I I don't know if you
1:21:10just read buffon's last report
1:21:13he's he says what's happening our CEOs
1:21:15are lying
1:21:18why would I why would I trust the CEO
1:21:20which I don't trust them anyway
1:21:21so just look at this last report
1:21:25and he says our CEOs are lying
1:21:28another thing that's happening just FYI
1:21:30is the Fed is printing all this money
1:21:33but also what happened is the FDIC
1:21:35Federal Deposit Insurance Corporation is
1:21:39now terrified there's going to be a run
1:21:41on the banks in other words people are
1:21:44so this is 2023
1:21:46they're so afraid that there's not
1:21:48enough money they're going to start
1:21:50yanking the monies out of the banks
1:21:54so at that point watch what happened
1:21:56look at the stock market is crashing
1:21:58Like a Rock today
1:21:59you know there's three basic asset
1:22:01classes just look at the facts don't
1:22:03listen to me
1:22:05stock market is going down real estate's
1:22:08going down and cash is going down
1:22:12just look at the facts don't listen to
1:22:15me
1:22:16and so this here is a 1964 silver
1:22:20dollars Kennedy on it
1:22:231964 it was a guy named who was the guy
1:22:27Johnson I think took silver out of these
1:22:30coins here so this little silver coin
1:22:33today is worth ten dollars I can go to
1:22:36any coin dealer and change it for ten
1:22:38dollars
1:22:39so if you buff it you know what I mean
1:22:41he's good at stocks no I mean he's a
1:22:44very smart guy he's a multi-billionaire
1:22:46but he didn't invest his money he
1:22:49invests your money
1:22:51I don't need to trust Buffett that's all
1:22:53I'm saying I trust me
1:22:56and if you don't trust you give it the
1:22:58Buffett okay fair enough yeah anyway
1:23:01Warren Buffett Warren Buffett had
1:23:03insurance companies and he would take
1:23:05the premiums and he would invest them in
1:23:07the stocks and so forth I know I know
1:23:08how this works no you're right that's a
1:23:10good point
1:23:12you have a very high net worth and you
1:23:14have four kids
1:23:16I have two kids I don't have a high net
1:23:18worth
1:23:19I don't measure net worth
1:23:22uh okay well
1:23:24you have a lot of assets
1:23:28I measure cash flow okay well ultimately
1:23:32you have a lot of money and you have
1:23:35four kids is that right no I have no
1:23:37kids you have no kids I still don't have
1:23:39sex that's why I'm trying to figure that
1:23:41one out now my wife and I decided not to
1:23:45have kids
1:23:46well I guess the internet internet
1:23:47messed up okay all right so so you have
1:23:50no kids
1:23:51and the the one thing that that I
1:23:53learned when it comes to money is that
1:23:56the higher the net worth the the longer
1:24:00the timeline in terms of their planning
1:24:02when you look at someone who is barely
1:24:06scraping by they're trying to get to
1:24:07their next paycheck when you look at a
1:24:09middle class person
1:24:11they they probably plan six months to a
1:24:13year ahead of time but when you look at
1:24:15the the ultra wealthy they're planning
1:24:17past their lifetime
1:24:19right
1:24:21what is do you have a plan past your
1:24:24lifetime in terms of what to do with the
1:24:26money that you've accumulated yeah I
1:24:27already said that I already said that to
1:24:28you because we're going to set up a
1:24:30foundation
1:24:32via some of the some of the there's all
1:24:34these vehicles for what with what you
1:24:36give your money to
1:24:38so we won't pay any taxes at death
1:24:40either so it's death taxes middle class
1:24:43pays taxes I don't pay taxes
1:24:45so right right now our money is stash
1:24:48and it's called a CRTs childbo Ranger
1:24:50trusts
1:24:51and when you know I'm 10 years older
1:24:54than my wife and when she passes all of
1:24:57that will go to probably What's called
1:24:58the Rich Dad Foundation or something so
1:25:01it'll go on for perpetuity
1:25:03like I said that earlier we have a plan
1:25:05for our money all the way through and
1:25:07our job is not make sure
1:25:09the Internal Revenue Service doesn't get
1:25:11it
1:25:13was there a reason why you decide not to
1:25:15have kids was that was that a conscious
1:25:17decision or it just happened I'd be a
1:25:19terrible father
1:25:20that was the main reason you know I'm
1:25:23I'm a U.S marine
1:25:25I wouldn't want to have
1:25:27as SLB like me as a dad
1:25:30so I mean that's the honest God truth
1:25:32Vlad I am
1:25:34you know both my dads were tough guys
1:25:37and uh most kids can't take it in a
1:25:40bunch of snowflakes today
1:25:44well
1:25:45you're very pro-bitcoin I mean you kind
1:25:47of put Bitcoin in the same uh in the
1:25:49same basket as gold and silver and
1:25:52you know when you looked at what
1:25:53happened like for example FTX and you
1:25:55look at the manipulation that has
1:25:58happened in crypto
1:25:59uh you know the pump and dumps and
1:26:01everything else like that do you feel
1:26:04that crypto is here to stay and it is a
1:26:07good asset to hold on to or are you
1:26:10still a little bit unsure these days
1:26:11well please be careful what you want to
1:26:13use the term asset you know
1:26:15the thing with Bitcoin is this it's not
1:26:18it's like anything it's not when you
1:26:20sell it's when you buy it
1:26:22you know my original profit is made when
1:26:24you're buying up when you sell I don't
1:26:26sell any any of my properties
1:26:28I sell nothing because then I have
1:26:30capital gains tax right so with Bitcoin
1:26:33it went up to 28 000 and I watched it
1:26:36drop down to I think a thousand let's
1:26:38say at that point it became a technical
1:26:40trade there's fundamental investing in
1:26:42technical trading when I saw that thing
1:26:44and started climbing back up I said I
1:26:46watched it at six
1:26:48and I said I think six is the number
1:26:51so I backed up the truck on six thousand
1:26:54so today I think Bitcoin is about twenty
1:26:57thousand
1:26:58yeah Bitcoins at 23 000 now but it got
1:27:01as high as 60 000 at one point yeah but
1:27:03I don't buy at 60. right
1:27:06so anyway I bought it at six and I
1:27:09bought a whole pile of it same as I buy
1:27:11gold all the time I don't save dollars I
1:27:15save gold silver Bitcoin ethereum and I
1:27:19don't just say I like the stuff
1:27:21but it seems to hold us value
1:27:24and you know Buffett called Bitcoin rat
1:27:27droppings or something like that you
1:27:29know I'm going well he's a stock guy
1:27:31Grant Cardone buys apartment houses
1:27:35you don't have to buy apartment houses
1:27:37you can buy a bond and bonds are going
1:27:40down right now
1:27:43do you know what I mean you just got to
1:27:44be smarter I don't have bonds by the way
1:27:48but anyway there's so many things you
1:27:50can buy but like the biggest question is
1:27:52how smart are you with your money and
1:27:54what this school teach you about money
1:27:56nothing
1:27:58and you wonder why School teachers are
1:27:59broke because they don't know nothing my
1:28:02whole family are School teachers good
1:28:04people nice people marxists but good
1:28:06people
1:28:07[Music]
1:28:10I don't care if you're a Christian a Jew
1:28:13a Buddhist or Israeli I don't really
1:28:15care
1:28:16to show me the money is that that shows
1:28:18us
1:28:20yeah I actually found the quote I mean
1:28:22Warren Buffett said cryptocurrencies
1:28:23basically have no value and they don't
1:28:25produce anything they don't reproduce
1:28:26they can't mail you a check they can't
1:28:28do anything and what you hope is that
1:28:30someone else comes along and pays you
1:28:31more money from them later on but then
1:28:33that person's got the problem in terms
1:28:35of value zero
1:28:37exactly
1:28:39look I'm not saying it's not a smart
1:28:41dude
1:28:43he's a very smart dude you know
1:28:46but yeah
1:28:47you can listen to Grant Cardone also you
1:28:51can listen to me you can listen to Dave
1:28:53Ramsey who says live debt free you got
1:28:55to choose your teacher
1:28:57sure that's all I'm saying like when I
1:28:59was in Sunday School
1:29:01I was like eight or nine years old and
1:29:03the Sunday school was a young young
1:29:05teachers in Hawaii
1:29:07as she says why were those three wise
1:29:09men wise
1:29:12and I said I raised my hand you know
1:29:14it's about eight and nine years old I
1:29:15said because they were rich
1:29:18she goes
1:29:19why do you say that you know because in
1:29:22church what love of money is the root of
1:29:24all evil
1:29:25and so I said why'd they say that rich I
1:29:27said because they're rich and she goes
1:29:29why so the gold frankincense and myrrh
1:29:33you got to be rich to have that stuff
1:29:36she shakes her head because this
1:29:37violates every one of her Christian
1:29:39values about the love of money is the
1:29:40root of all evil right
1:29:42she says no they want that wasn't why
1:29:45they were that's why that why they
1:29:46weren't wise so tell me why it's one of
1:29:50the most valuable lessons my little
1:29:51Sunday school teacher taught me
1:29:53she says because he always sought the
1:29:55best teacher
1:29:57and for them it was Christ
1:30:00for many of my family it's Buddha
1:30:03for the um
1:30:05you know Muslims is Abraham for the Jews
1:30:08I mean Jews as Abraham well the guys is
1:30:10all this so in real life seek your
1:30:14teachers
1:30:16if you listen to a school teacher about
1:30:18money I'll pray for you tonight right
1:30:21you know what I'm saying yeah you want
1:30:24to listen to Warren Buffett listen to
1:30:25him
1:30:26yeah yeah and he I actually found the
1:30:28quote you talked about he called the
1:30:30Bitcoin probably rat poison squared yeah
1:30:34that's his exact quote
1:30:36back into back in 2018 he said that but
1:30:39I I bought it I bought it at six what
1:30:41did he buy it at you know I mean that's
1:30:42give me a give me a break here yeah it's
1:30:45not it's not Bitcoin it's blockchain
1:30:47blockchain yeah blockchain is the key
1:30:49right now okay
1:30:51well you know apart from your book I
1:30:54read a lot of books myself uh when it
1:30:57comes to personal finance and so forth
1:30:58uh you know one of my favorite books was
1:31:01the richest man in Babylon
1:31:04are there any books out there apart from
1:31:07yours of course that you really admire
1:31:10and have really changed your life
1:31:12that's a very good question because
1:31:14again I I read those books and I didn't
1:31:16get much on it I was still in the
1:31:18Buckminster Fuller
1:31:20and um here's the guy you know when I
1:31:22was my poor dad liked Fuller
1:31:25and and Fuller talked about mathematics
1:31:27he says how dare we lie to our kids he
1:31:30says our mathematical system is fake
1:31:35and he says there's no such thing as
1:31:36squares in the universe
1:31:39and in a whole mathematical system is
1:31:41based on Square rooting and all that
1:31:43stuff squares don't exist so I'm
1:31:45listening to this and my poor dad was an
1:31:47academic type so this guy's Fuller's on
1:31:50it he said I'm math is ironic and he was
1:31:52teaching math Poor Dad was
1:31:54and our our system is really based on
1:31:56triangles
1:31:58you know which was
1:32:00anyway so when I started studying with
1:32:02Fuller
1:32:03I
1:32:05I was young I didn't know what he was
1:32:07talking about so I hitchhiked from New
1:32:09York was going to school in 67 and I
1:32:12went to Montreal Expo 67 in Canada
1:32:16and Fuller had built the geodesic dome
1:32:20which was a U.S Pavilion
1:32:22at the World's Fair in Montreal Canada
1:32:27I'm writing through this geode that's
1:32:28the door I'm going oh my God
1:32:30so then what happened is after I got old
1:32:32and all this Fuller was doing a seminar
1:32:35at
1:32:37um in in Lake outside of Lake uh Tahoe
1:32:42and it's called the future of business I
1:32:44went to listen to this guy and holy
1:32:46American he blew my mind away
1:32:48again the question is Vlad what does God
1:32:51want you to do
1:32:53I start to listen to this guy
1:32:56and ever ever since then I I kind of
1:33:00choose my own path should I say
1:33:03and so you've got to find your teacher
1:33:05so the the book that Fuller wrote after
1:33:08he passed away
1:33:09was called the grunch of giants
1:33:13grunt stands for gross Universal cash
1:33:16Heist by R Buckminster Fuller
1:33:20and grunt stands for
1:33:22gross Universal cash flies it's how our
1:33:25wealth is stolen
1:33:27via our monetary system our school
1:33:30system and Investment Systems
1:33:34and I want that's exactly what my rich
1:33:36dad was saying
1:33:38so uh Vlad
1:33:40Fuller
1:33:41and Rich data about as polar opposite as
1:33:44you can get
1:33:46but they said the same thing about money
1:33:49so ever since then I decided to do my
1:33:51own thinking
1:33:54and that's why Buffett no doubt he's a
1:33:57billionaire and all that I just you and
1:33:59I cannot start
1:34:00insurance companies
1:34:02I doubt we could
1:34:04and Grant Cardone wants you to buy
1:34:06apartment houses with no money so he
1:34:10you know I'm going
1:34:12and Dave Ramsey wants to live debt free
1:34:15and I and I'm saying
1:34:19just invest in your brain
1:34:21think for yourself
1:34:25there we have it uh Robert Kiyosaki uh
1:34:29such a pleasure to finally sit down and
1:34:31talk to you uh like I said I had bought
1:34:33the book a long time ago I read it and
1:34:35reread it and got to reread it again in
1:34:38anticipation for this interview uh what
1:34:40you've accomplished in your years is
1:34:42phenomenal uh in you know not only in
1:34:46the books you've created but also the
1:34:48business around it and also the
1:34:49Investments and so forth a lot of people
1:34:52could be one-trick ponies they could
1:34:54have one great project and try to live
1:34:56off that project for the rest of your
1:34:57life but the fact that you've had so
1:34:59much success in so many different areas
1:35:01and you've continued to have the success
1:35:03and you've continued to grow and
1:35:05influence so many people in a positive
1:35:07way I think is phenomenal and you know
1:35:10when it comes to people like yourself I
1:35:13feel that your legacy is so important
1:35:15this is why you you've made the type of
1:35:17decisions that you've made along the way
1:35:19uh you know you didn't make your money
1:35:22uh by cutting corners or trying to full
1:35:26people and so forth you made it by good
1:35:28giving out good advice
1:35:29bringing up actual examples and
1:35:32influencing a lot of people uh to become
1:35:36financially better off me being one of
1:35:39them
1:35:40so I wish you all the best and uh you
1:35:44know you know while I was talking you
1:35:46know while you're mentioning brunch of
1:35:48giants I bought the audiobook version of
1:35:50it you know I mean because I always for
1:35:53me it's always like
1:35:55it's interesting to me
1:35:57to find the people I admire and find out
1:36:00where they learn from like for example
1:36:02Warren Buffett during reading his book I
1:36:04found out that he actually learned
1:36:05everything from Benjamin Graham
1:36:07so by Benjamin Graham's book and reading
1:36:09it completely changed my life more than
1:36:12actually Warren Buffett's book so but
1:36:14the ability to be able to connect the
1:36:16dots and figure out where ideas came
1:36:18from and originated from and so forth I
1:36:20think is so important uh to success so
1:36:22that's why I loved I loved the fact that
1:36:25you told me about grunch of Giants and
1:36:26uh you know about Fuller the author and
1:36:30so forth
1:36:31um you know wish you all the best and
1:36:32truly appreciate the time you spent with
1:36:34me today well you know Vlad you won the
1:36:36best interviewers I've ever come across
1:36:37because he let me tell my story but I'll
1:36:40just say one thing most you know big
1:36:42biggest asset is between this year and
1:36:44this year it's called your brain but
1:36:47it's also your biggest liability if you
1:36:49don't feed it well
1:36:51so I I congratulate you for reading
1:36:53listening to different people reading so
1:36:56many different books and making your
1:36:58decision for yourself and regardlessly
1:37:01what Fuller said to my class back in the
1:37:0380s
1:37:04what does God want you to do
1:37:06go do it
1:37:08go do it that's what it is Robert thank
1:37:11you so much for your time thank you
1:37:13peace

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