Name: "You Will Never Be Poor Again" | START DOING THIS TODAY!!!
Uploaded: 2019-10-17T14:22:08.000Z
Duration: 10 min 17 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Future simple

Adverbs of frequency

But our school system will never tell us it does their part of the posse fake money

Know the game of the rich my rich dad taught me, you know, uh, cuz you're the banker the bankers and the rich play

Is different than what they teach you in school all over the world. What the school teach you about money

I knew that most people know that the way to keep the poor and middle class working hard has never teach them

What the rich know so if you read Rich Dad Poor Dad which came out in 1997?

It's what the rich teach our kids about money the poor middle class do not

And I don't like that our academic systems so corrupt, you know, we know the banking system is corrupt

We know politics is corrupt but act but academics is just as corrupt

I mean one thing if it's the banking in the politics

but this is where we send our children and we trust them to do the right things for them and yet they're being

Not taught something so fundamental like you asked your dad when you were a kid dad. Oh, yeah

Stratego tell teach us about money and it was just never never and they'll never will, you know something

It's not get a job work hard save money and invest in a well-diversified portfolio

Stocks bonds mutual funds and ETFs the financial industry is two things debt

1971 Nixon took the dollar off the gold standard and the US dollar became debt

And we still tell kids to go to school get a job

Now who tells them to do that. That's the most ridiculous thing

There is the book starts and it says line number one saving money will make you rich and ever

Well, you know that all taught that as kids. Why would you save it?

And why would you work for it if they can print it?

Had faster than you can work for it. Why do you keep saving when they're printing it rich don't work for money

Don't you touch that stuff? It's very subtle. Yeah, they don't say

I'm gonna train you to be a worker be the rest of your life

But they educate you in a way where that's what you come out, right?

What else was he? What was he trying to do those first few months. Were you working for him?

Because he taught you the hard way about money, and she said if you're gonna be a successful in your lives

You've got to find the best teachers and a great teacher is somebody who comes from the inside not the outside

But in school, you don't know if your instructor is for real or not

That's where the fake teacher comes from. I

Said I want you to teach me about money. So it was so why should I teach you?

He said but it if I teach you you work for me for free

And I said why for free my dad my poor debt whatnots. He says is if I pay you you think like an employee

Your brains will your brain will change if you learn never to work for money, you'll be a rich man

And this is powerful once you give someone a paycheck their brain turns off, right because it had been the promise of a pension

Right and job security which is kind of a paycheck in disguise

After you stopped give the man a fish eats for the day teach him to fish eats for a lifetime and most poor people confuse

Assets and the liabilities they think their home is an asset. It's actually a liability right an asset

Cash flow is a verb, so to understand if it's an asset a liability. It takes a noun + verb

So if the cash is flying out of your pocket, it's a liability

If the cash is flowing into your pocket has it burn?

That's it. So I own 7,000 rental properties

also assets every month the cash flows in

Whereas many people have the big house of the hill and the cash is flowing out right now. They're going broke, right?

the other thing the poor don't understand is the number one expense for most people as taxes and

Isn't that weird you walk around and you look at the paycheck and say oh that doesn't seem right and you don't realize that

The government's got a huge hand in your pocket and you are doing nothing to minimize that again

This is what was very different about the rich and the poor the rich don't work for money is number one expensive tax

See, there's three kinds of income earned portfolio passes

So earned income is if I get a job that's earned income if I'm a doctor or a programmer. That's burning because I'm working for

if I buy US by pilots an apple for ten dollars I sent over 20, that's

That's all of these guys are screaming right now in America tax, too

Because most of the guys complaining they don't know the three kinds of income and the rich don't have jobs. Anyway, they have assets

And so the average small out there poor guy, you know sent the kid to school. They don't learn this

You see very few people will buy what I do

Make a million dollars and pay zero tax and my rich dad taught me that playing Monopoly

That's how it started, you know for green houses one red hotel

Or the McDonald's for me. I write about it McDonald's Ray Kroc. Yeah

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

You know this guy Bezos, but he's sixteen billion dollars how much tax did append a 16 billion?

And that's all legal anyone can do it it everybody could to put everyone most people lack the education

So once you learn how to use debt as money you can never say I can't afford it

Because the banks will give you so the banks after the crash of 2008

The banks gave me 300 million dollars tax-free when they asked the average guys that can you why don't you use a debt?

Because there are scores their FICO scores when only we have them here are so bad

The schoolteachers will never tell you about because they don't know it my poor dad. Never knew that

You don't know if something as an asset a liability

Until you can see which way the cash flows

Well, if it's taking money from your pocket, it's liability. It's putting money in your pocket

It's an asset. The US government wants me to provide housing

Wants me to provide jobs wants me to borrow money because that's how money is created through debt. I get huge tax breaks

Everybody can do the same thing if they had the financial education to do it

If people understood the tax code we'd be more prosperous but can poverty be passed through genetic

Yes, because it's some type of way of thinking it's an attitude. It's very simple when I wanted people ask you

How do I stop it? I just never say I can't afford it ask yourself

How can I the reason I have so much money is because I don't say I can't do it