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HOW TO CONVERT A LIABILITY INTO AN ASSET – ROBERT KIYOSAKI, Rich Dad Poor Dad

(upbeat tempo) – So welcome back its Robert Kiyosaki with my dear friends' daughter here Alexa. And we're talking about
Millenials and money, and we gone through some lessons. I don't know how many more, but let's continue on
with another lesson here. And so we were talking about you know assets and liabilities, right? – Yes. And when you read Rich Dad Poor Dad I said your house is not an
asset what did you think? – Well, I think that's a conception that many people believe, but as you demonstrated the last seminar that we went to in Argentina.

My mom had her properties and she converted them into assets. Correct. – I think it just depends
on what you do with it and it would be great if you could show us how to turn your house into an asset. It's very its really fundamentals. If I could go back I
probably covered it earlier, (marker rattling) but it's a crucial
question and this is what financial education and
financial literacy really is. Again it starts with the financial
statement and I would say probably 95 percent of all
college graduates don't know what a financial statement is. You took an accounting course right? – Yeah, I did. I know you go through parts of this, but I say to young people like
you there's six basic words to financial literacy
and financial education.

And the six words again are income, expense, asset, liability. See I don't really care
about my FICO score a fico score just basically registers are you trustworthy with borrowing money, but a bank will never sel. I borrow in the hundreds
of millions of dollars. (chuckling) A fico score not gonna get me there okay. It's so it's kind of a
ruse I mean I don't its, it's important but not for me. So these are the four
words income, expense, asset, liability. Then the last two words
are the words cash flow. And that's, why the
game is called cash flow (marker squeaking) and the secret to being rich
is not a college education, but can you control cash flow. And this is what cash flow in looks like. So this here you need this income, expense, asset, liability.

(marker squeaking) Again this is you get a job
and this is my poor dad, go to school, get a job, get your PHD. And so this here is cash
flow so income comes in and it goes out this way. First line of expense is tax, but this is a poor
persons cash flow pattern. It's not how much money
you make most people you know they. I don't care if you what you have a Ph.D. or no school at all. They can't control the cash flowing out through their expenses so that's, why people like Susie or men say cut up your credit cards,
live below your means cause you're a spend-a-holic.

So that's a poor person. This is a middle-class
persons cash flow patterns and this is where the house comes in. They, first thing you know most kids do when they get pay raise and all that they buy themselves a bigger house, now my house is an asset. Who tells you that? Your real estate agent of course! – Yeah. (Alexandra giggling) Right cause they they want to give you this false sense of security
while you're getting screwed.

– Exactly. Ya know but when you look at
what happens with the house a personal. I mean a personal residence that I live in the money comes in it goes
out and this is middle class, but also goes out through a mortgage. Mortgage payments, oh but
I don't have a mortgage. You still have taxes you still you know. Hawaii just raised the
property taxes on me. Which is probably why I'm gonna sell. I'm gonna get out of Hawaii, but you have taxes and you have upkeep so monies always flowing out. So that's why your house is
not an asset it's because its taking money from your pocket. So very simply said assets
put money in my pocket, liabilities take money from my pocket. And then this here is, so I'm not saying don't buy a house but here is a house that. And I started when I was
25 bought my first house it was an apartment with
an investment property. I didn't live in it, I rented it out and it put money in my pocket.

So very simple the definition
of asset and liability is not the house or this, its cash flow. Where is the cash flowing? So as a young person (Robert coughing) and to all millennials or if you're old financial intelligence is the
ability to control cash flow. And that's what they
don't teach you at school. They tell you to go to school, get a job. First thing is tax you know, you'll pay most of your money
will go out through taxes, in your lifetime. Then they tell you to buy a house, a car.

Cars an asset, no cars a liability. You got insurance, gas,
upkeep, and all this. Now if you buy a, a taxi
car it could be an asset, its cash flow. And that's very simply it, so this is a poor person. Money goes out there's a lot we, we just interviewed some
national football league players who make millions of dollars in their 20s. And most of them are broke in two years because they can't control cash flow.

Intelligence IQ is can
you control cash flow not your college degree. College degrees are important, but they're not gonna teach you this. So the cash flow game, trains you over and over and over again to get your money in here to
get the cash flow this way. So I started with this,
cost me 18,000 dollars. I paid for the credit card and
I put 25 dollars in my pocket okay. It's an infinite return
because the cash flow paid for the mortgage, it paid the
expenses, pays the operating costs and I still made 25 dollars. Kim's first year was the same, hers wasn't 18,000 it was 50,000, 45,000 and it
put 25 dollars in her pocket, but Kim now owns 6,500 rental properties.

And she pays no tax because
the income comes from here. – Mm-hmm If you have a job you pay tax, but income the rich get richer because when you have asset income taxes are less. You can get it down to zero if you want. But that's financial intelligence, but can you control cash flow. Okay, so say that again. Assets what? – Assets put money into your pocket, liabilities take money out of your pocket. And so as a young person
you just focus on that so when you buying a new house, you're gonna say is this
gonna take money or put money? You buy an apartment house
is it gonna take money or put money that's it, its cash flow. Six most important words for
financial intelligence and IQ is income, expense, asset, liability, but its really cash flow. Now if I could bring up a
more horrible subject is, do you think people can
be assets or liabilities? – I think they could
be both, to be honest.

So for most young people
they fall in love, they get married, they have kids. Is a child an asset or liability? – A child is definitely a liability. I'm not saying don't have kids, but you gotta think the kid is expensive and they don't get cheaper. They get more expensive every year, you know then they go to college and then it gets even more expensive. So a human being now this
sounds horrible to all those socialists and communists out there, but the fact is kids cost money. But as an old guy, I want
you to think about this as I get older as people get older family members become liabilities. So I have a friend whose
mother thank god she had long term I don't know what they call it, but they just canceled it on her. She can go to a old age home and I think the price is 18,000 a month. Most so that as a young person
as your parents get older the question is can I afford
to spend 20,000 dollars a month on my mom or my dads' long
term healthcare, yes or no? – No, not right now.

No so. – No. And this is gonna happen to my generation many people don't realize, but there brothers or
sisters or sisters kids and all this become liabilities to them. So as a person whose fairly well off, I'm and Kim and my
friends are thinking about two legged liabilities. So I know today that if
my sisters become ill I'm the one with the money
and it's my responsibility to pay for them. Same as my brothers and their kids. So these are things that people
don't think about a lot of times is what happens
not only as they grow up, but what happens as they age. Statistics show the average
person in my generation lets say have a million dollars.

80 percent of that million dollars will be gone the last two years of life. Because medical expenses go
through the roof and today insurance companies are canceling. I forgot the name of it, but my friends' mother
it was just canceled. So he doesn't have 18,000 a month so he had to bring his
mother into his house and you know create
another room and all this. Well, I love her which he
does but shes a big liability and all he had was savings. So the savings are being depleted
going out this way, okay? So with your question
about houses and people, but people are also
assets and liabilities. For most people with our favorite subject, a 401K is it asset or liability? – From what I've learned from you its definitely a liability. Or an IRA or a pension cause
it's always going out this way. There's no guarantee it'll be there.

So this is the basic of
financial intelligence, financial literacy stuff like this. Another thing about people
is you have a bad advisor, like a bad financial planner, or a crook, or a business partner that's a crook, a wife that's a crook and all of that. They can be human liabilities. I have two friends right
now who just joined a million-dollar club. They married beautiful women, got divorced and the women is now costing
a million dollars a year in alimony. So their beautiful wife and the
child support it's a million dollars going and she's only 40 years old. So she has a whole pile of boyfriends, but it's costing him a
million dollars a year for her boyfriends. I said I wanna be her boyfriend.

(both laughing) not really you know. That make sense to you? – Yeah, it makes sense. Financial IQ is can you control cash flow. IQ means how big a problem can you solve so if like my friend whose
mother is now costing him 18,000 dollars a month. Well, thank
God he has about 100,000 in savings but in one year its gone. – Yeah. That's not high IQ, but for myself 18,000 dollars a month I ain't gonna make that much
cash flow pretty easily.

– yeah. okay. So when you're like in your 20s per, well how am I going to make. Let's say by the time
probably a 100,000 a month to take care of my parents, because like it or not its cash flow and they become liabilities. And the problem is getting worse
or because the bond markets are not providing income. So many insurance companies
have to renege on their promises to provide the cash flow to
take care of our loved ones the same as medical. – Wow. And so that's why when people
say I'm gonna go out on my own and do all these things they're
kinda doing what they love. Which is good, but they've
really gotta think about how many liabilities do they have. It's not just your rent you know, it's your family and so for me (marker tapping) and for Kim. We have family members, but they're liabilities so
that's why we stay over here. Hopefully, nothing will go wrong, but if one of my sisters got ill and she needs 100,000 a month
at least can provide it.

– Yeah. otherwise she they go they go indigent whatever they call it kay. – Yeah. Any other comments or questions? – No thank you for sharing so much about this content and all this information. That's gonna be super
valuable for all my friends and all the Millenials
out there just like me. So I have two friends that
are in the million-dollar a year club, it doesn't mean
they're making a million dollars it's their wives
are taking a million dollars a year out of their pockets
and their kids and all this. And I go you should of thought
about that 20 years ago. – Yeah. But you don't cause your in
love and you're gonna have kids and gonna make it together. – mm-hmm. But your parents offer great role models. So once again the six
words you have to know and be masters at income, expense, asset, liability, cash flow. You can control cash flow
that's financial intelligence, financial IQ and financial literacy, okay? – Okay. Thank you..

As found on YouTube

401K to Gold IRA Rollover

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Is gold a good investment in 2023? – Robert Kiyosaki, Jim Clark, Charles Goyette

(upbeat music) – [Narrator] This is "The
Rich Dad Radio Show." The good news and bad news about money. Here's Robert Kiyosaki. – Hello, hello, hello, Robert Kiyosaki, "The Rich Dad Radio Show." The good news and bad
news about this here. This is cash, and this trash. So today we're going to be
talking about the hottest subject on the market today, and it's not real estate, what it is here is this is gold, and this is silver, and of course there's Bitcoin. So those are the three things.

And the reason they're the
hottest subjects on the earth right now is because our money is fake. So this is one of my
favorite books here, "Fake." I'll tell you a quick story
before we get into why gold, silver, and Bitcoin is,
that I was at Safeway, and I'm kind of a guru at
the salad counter at Safeway. (Robert laughing)
All the women were coming up to me going, "Hey,
what should we invest in? What should we invest in?" And I just happened to be
having in my pocket here, this is a pre '64 US quarter, and it's given to you by
my friend, Dana Samuelson, he's in Austin, Texas.

He is American Gold
Exchange in Austin, Texas. Dana Samuelson. So he knows I'm a silver nut. So this is a pre '64, and
pre '64 means it's silver. After '64, it became fake money. It became this here. So I held this up here to the ladies, they want the hottest tip,
and I said, "Buy this here." They went, "Oh!" A quarter? I can afford a quarter." I said, "Yeah, but I'll
charge you $3 for it." And you should have seen their brains, the salad was flying all over the place.

(all laughing) (Robert speaking gibberish) I said, "Okay, I'll tell you what, $2." (Robert yelling) They were screaming,
not screaming, but just, "Why would I pay you $2 for a quarter?" And I said, "But this is pre '64." They just could not figure it out. Now, that's the lesson of today, is that people don't know
that our money is fake. And that's why Rich Dad
exists and all this. But the sad thing about it is, is that AARP turned on my article because I wrote a story of
my mother, I used to save real quarters, cause when
I was 17 years old, in '64, I saw the quarter go to copper. It was fake. It was an alloy. So I started collecting
dimes and then quarters and half dollars. I had this big bag of real silver. And my mother says, "What are you doing?" I said, "This is real money." So this is, '64, '65, I
go to school in New York.

'66, I come home, my mother spent it all. (all laughing) And so I wrote the story for
AARP, they turned it down. I said, "The lesson is
poor people are poor cause they don't know fake money." They don't know the
difference between real money and fake money. So this is a very important lesson here. I have some two friends here from years, and like I said, Dana Samuelson
of American Gold Exchange in Austin, Texas. This is a special category of silver. It's called numismatic. And numismatic means
collectible and antique. And the reason I respect
Dana is because he was head of the American Numismatics.

So I don't buy numismatic, I
don't buy collectible coins, I buy real gold, silver. But if I want numismatic,
like an antique Dodge or something, whatever it is,
if I want an antique coin, I see Dana because there's
a lot of fakes out there. A lot of fake coins. So you got to be very careful today. But like I said, this
is the hottest subject. I have two great friends here. So Jim, and this is Charles Goyette here. This is his book here, "Red
and Blue and Broke All Over." (men chuckling) So Jim, how long have you
been in this business of gold? – 50 Years. – 50 Years.
– Yeah. – Our time is coming
on this one, isn't it? – Well, I thought it was
coming in 1973 when I got in the business. And it was just a year
and a half or so after Nixon had removed the gold and we got everyone off the gold standard. – The dollar was backed by this here.

This is real gold. So in '71, this was pulled out too, right? – [Jim] Right. – Because you just print
as much as you like. – Well it was no longer
backed by anything. It was a Federal Reserve
note, which is no more federal than Federal Express. And we were required
to take that as money, whether we liked it or not. – Right. Right. Another thing too, I
was in Vietnam in '70. '71, I was on my way
over, '72 I was there, and '73 I returned and I
bought my first gold coin. It was a South African Krugerrand. And the Vietnamese woman, gold was $35 for years, and then in '71 it floated
to about 50, let's say. And so I thought, "Well,
I'll go talk to her." She was behind enemy lines, I
flew my helicopter in there, tried to negotiate with her. I said, "Look, I'll give you 40 of
these for one of these. And she's going, "Spot." I go, "Let me say it again. 40 of these. for one of these," she goes, "Spot." I said, "What the hell
is she talking about?" Well, she was saying spot that day was 50.

And all of a sudden here, I'm
a college graduate, hopefully, with my other college graduate,
two pilots standing there going, "We don't know
shit about money, do we?" So spot meant that on
that day, it was 50 bucks. And I thought because she
was behind enemy lines, I could get it for 40. No such deal. Gold is gold. Spot is spot. Silver is silver. This is real money. So Mr. Goyette, Charles,
why did you write this? Tell us something about your background, why did you write this book here? – Well, one thing is Jim and I
were in the business together a very long time ago that
he was talking about.

But you just reminded me about spot. I remember seeing the
"National Geographic" special, this is back in the 70s,
and they went to these guys, these kind of third worlders
in the Amazon rainforest, way deep in the jungle, and these people didn't have any clothes, didn't have any electricity, but they were panning for gold there. And the camera crew came up
and tried to buy their gold and they knew what the
London goldfish was that day. (all laughing) They totally knew what the
world price of gold was, spot price of gold,
cause it's international, it's all over the world, and it's a real price
for real money, isn't it? – Yeah, the sad thing about
it is I think Americans are the least to know about money. Because we have the Federal Reserve note. I'll tell you one last
story; I was in Peru, I bought a gold mine in Peru.

There's no rain, there's just baron hills, mountains up in the Andes. And I see these little
holes up there, I go, "What the hell's that?" And my little Inca guide says, "We've been drilling gold
here for thousands of years, asshole." (all laughing) I said, "I'm not the first guy up here?" "No, you're not the first guy up here." "My great, great, great,
great, great, great grandfathers were yanking
the stuff out for years." And Bizarro came to Peru
and killed them all, took their gold. – [Charles] Stole their gold. – And so that's why the
Spanish became the empire at the time. Someone from Spain, England, America, America's gone now.

So that's what we're
here to talk about today. And we're old enough, the
three of us, to understand that this here is real and this here is fake. But most people would rather have this. This is the problem. – Robert, I saw one of those
YouTube videos where the guys on the boardwalk in Santa
Monica, it's kind of like jaywalking, like what's
the name of the moon? But he's walking around
with a chocolate bar and a silver coin, and he says to the people, he said, "Would you rather have
this chocolate bar," or I think it was a silver bar.

– [Jim] A silver bar. It was Mark Dice. – Yeah. And the people go, "Mm, I'll
take that chocolate bar." (all laughing) So they get a $2 chocolate bar, or a- – It was a 10 ounce silver
bar, it was about $300. And they'd rather have the chocolate bar than the silver bar.
– [Charles] They know no better, it's Jaywalking America. – And I'll say this again, it's the most important lesson: poor people don't know the
difference between real money and fake money. And that is what it comes down to. So it was in '71, this used
to be a silver certificate, now it's a Federal Reserve IOU.

It used to be backed by gold up to, no, this was '67, '64, excuse me, it was silver. And then in '71, Nixon
took the gold out of it. Johnson took this out of
the silver certificate. – Yeah, I remember I was
telling you that story the other night. I remember in 1964 where
we're sitting around the TV, Johnson came on and said,
"Silver has become too valuable to be used as money." And just as I'm sitting here, my dad said, "That son of a bitch. They're going to take the silver out and they're going to leave
us this garbage coins." And he didn't really
understand it, but he got it. And from that point on,
he saved silver coins. He had about $8,000 worth by
the time he cashed them in in 1980. – Yeah. And I was in South Carolina
where I have a home, and this guy said that his
father ran the theater, and his father said, "There's
just yanking out all the silver coins." The lesson again, is poor
people don't know the difference between real money and fake money. And that's why in "Rich
Dad, Poor Dad" I said, "The rich don't work for
money because it's fake." So the reason I like to have
Jim here and Charles is because this stuff is getting
harder to find right now.

And I was panicking cause I
deal with a lot of guys who have gold and silver. So I called my friends up,
"We cannot get silver." I went, "What?" This is about what,
seven, eight months ago, we couldn't get silver. So you guys are Republic
Monetary Exchange. – [Jim] Yeah.
– Yeah. On Camelback. And I called these guys,
they said, "We got plenty." – Jim has been very,
very good over the years at making sure that the
inventories are high.

He could see when these
runs are starting and stuff and the premiums are
starting to go up and stuff. And he's always put his clients first. He makes sure, we're going
to commit a lot of capital to make sure that our
clients can come in the door and get their gold and silver. The worst thing in the world
is these companies that say, "Well, give us your money now and then we're going to deliver
your gold or we'll send you your silver in six months or something." Don't do that! Don't do that. So Jim's just really
created a name for himself in his ability to always
deliver to his clients. – Well I've always stayed ahead
of the curve, that you can anticipate needs after
50 years in the business. – Well, not everybody can,
because I was panicking, Okay, well step back.
You have the spot price.

So let's say today the spot's 20 bucks. There's a premium on top of this coin, or this coin, should I say. What does the spot and the premium mean? – On that particular coin,
it's typically between $4 and $5 an ounce over the spot price. – So spot is the price
all across the world? – Right. And then all of the
products and coins and bars and so forth, they will
be priced accordingly based on the availability, the demand, the cost of refining and
putting them in the coins and shipping and distributor
markup, dealer markup, our markup and all that.

So there's always a premium that you pay to get the finished product. – That's like the tip at
the end of the dinner. (all laughing) – No, it's worse than that. – Yeah! I was watching Fox News
this morning, Fox Business, and they were bitching
about how, she went, where did she go? Oh, she went to the dry cleaners and she charged her, she
put it on a credit card for her dry cleaning; it said, tip 20%. She goes, "Why do I have to
tip you for my dry cleaning?" (all laughing) People are so desperate to
money because this is fake.

It's terrible. – Well, and because they can print it so much that the value
is dropping every day. They print up billions every day. Look at the bills that they
signed of, 1.7 trillion. Where's that money coming from? Well, they've got to print it. Or they've got to create something through a keystroke entry. That means all the rest of
those Federal Reserve notes out there become worth just
that much less everyday. – Yeah, this is trash. So I'll say it again, the
difference between rich people and poor people; rich people
know the difference between this and this. And so the Republic Monetary Exchange, there's a lot of people out there. Dana Samuelson, my friend,
he's my expert in numismatic. And I was impressed because
you guys had inventory. My other friend, Jerry Williams was out. And I said, "What the
hell?" This is a while ago, "What the hell's going
on?" It was running.

So it must mean there's
something going on because people would rather have this than this now, except for
the ladies at Safeway. (Robert laughing) – But they know now.
(all laughing) – It fried their brains. "Why would I give you $2 for that?" And I said, "That's the
riddle of the day, ladies." We're laughing, we had a great time.

But it fried their brains. Said, "What, what, what, what?" And I said, "I have a book here for you, It's called 'Fake.'"
(Robert laughing) And this whole system is fake right now. So we come back, we're going more into how people lie, cheat and steal because anytime there's money,
there's a liar and cheater and stealer around there. I've been saying this for
years, this is God's money. This is fake money. I like Bitcoin. I call it people's money. Now I don't know much about Bitcoin, but I'm just glad I bought it at six. That's all I know right now. So when we come back with
going more how you can know real money from fake money.

Some of the other advantages of right now. I've been saying this for
years, I used to work for Lear, I still have Lear Capital Ads, I said, "Buy silver." And the reason is
everybody can afford this. I think this is about 30 bucks. How much is this today? – Just under $30 for one of those, yeah. – Everybody in the world
can afford 30 bucks. But they'd rather have this. And that's today's Rich Dad
lesson. We'll be right back. (upbeat music) – [Announcer] Robert knows
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The Rich Dad Radio Show." The bad news about fake money. And again, we're talking
about this stuff is fake and this is real money.

We have friends, dear
friends, this is Jim Clark from Republic Monetary
here in Phoenix, Arizona. And Charles Goyette, here's
his book, "Red, White and Blue and Purple All Over." And we we're going broke. And so you guys have been
in the business for a while. I've been in the business
since '72 when I first bought my first gold coin. I still have that gold coin. – [Jim] Wow.
– It's not stored in America though, it's
stored someplace else.

– [Charles] Where is that? Oh, you don't have to tell. – I'm going to open my
blabber mouth on TV. (all laughing) That's like my attorney
stands in front of this crowd, he says, "Yeah, I have a lot
of gold, I keep it at home." I said, "Why don't you just
tell everybody where to go? Why not just give them your address too." (all laughing) Attorney's aren't the
brightest guys on earth. (all laughing) – Well I have strangers that will ask me, "Now, where should I store this?" I said, "I don't know and I don't care." – [Charles] And don't tell me.
– Well don't tell me.

So the FBI come, "Did you know?" So Jim, tell us about
what you have right here. You have silver and you have gold. – So I have the kilogram of
silver, which is 32.15 ounces, and then I have a 10 ounce gold bar. And of course, when you
see something that big, how do I know that's real? So we have a device, it's a spectrometer, that we can put, that X-rays the bar. And I've got it all set up. So what I'm going to do
is I'm going to point the device at the silver and I'm going to get a reading. Put it on there maybe
four or five seconds. It will read right into the bar. It'll come back. And if you can pick that up, right on the screen it says
AG, which is the chemical sign for silver, 99.99% pure. You know that this bar is absolute. We can do the same thing with- – Is there such a thing as fake silver? (crosstalk) Not too long ago, they caught some. – There were some companies
years ago that were making the silver and gold and it
wasn't coming out exactly pure.

And what happens then is if
we find that, we just throw it in the melting pot and
then bring it up to pure. Cause you don't want to sell
a bar that's 94%, 95% pure. So it's out there, which
is why we spent $20,000 on this piece of equipment that we can find a counterfeit bar. If it's not pure gold, we know right then, and this is paid for
itself many times over. Because so many times
somebody will come in and say, "Well hey, I've got this big block of gold and I want to sell it." Okay, let's have a look at it. You go through it, it's pyrite, or it's copper, or it's zinc. – Jim Recer was telling
us, in the New York Bank, he says they found some fake silver. – The bigger the bar, the
better chance that there is. So I'm going to do the
same thing with this gold. Because that's really the valuable. With a $20,000 piece of
metal, you want to make sure that it's what it's supposed to be.

Same thing. We come up, AU, gold. 99.99% pure. Which is exactly what it's supposed to be. – So this is January, 2023. What would this cost me, if
I walked into your place, Republic Monetary
Exchange on Camelback Road in Phoenix, Arizona, What would that cost me? – Just over $900 for that. – For that?
– Yeah. – My God. And how much is this thing here? – That's going to be
around 2,000, over 2,000, 2,050 or more. – This is 2,000, this
is a gold, what is it? – Eagle.

American Gold Eagle.
– American Gold Eagle. And that's 900? – Right, that's a kilogram of over. This is going to be close to
$20,000 for this gold bar. – What is that now? – 10 ounces of gold. – [Charles] That feels like
real money doesn't in, Robert? – Can I trade you this for this? (all laughing) – Go get 20,000 more of
those and we'll do it. (all laughing) – You're a little light. (all laughing) – Actually, on that subject,
we were talking about this the other night, Robert,
about cash for gold.

I'm one of the few people
who absolutely despise cash for buying gold, and
you'd think just the opposite, that I couldn't wait to get cash. But banks don't want it. Try and deposit $20,000
or $50,000 in cash. They'll turn you away and
say, "Well, we got to do this, that and the other, and
we've got to file this form and we got to do that." Hey, I would rather have a
bank wire than cash anytime. – Jim's story really
illustrates something with- – Wait. He doesn't want cash. And I thought the reason is
because it might be dirty or it's hot money or whatever it is. It's just a pain in the butt. – Well, it's that, but you know what else? I'm thinking down the road, let's say I acquire $1
million or $2 million in cash that the banks don't want to take. When this currency is repudiated,
I'm going to be stuck. Just like the people in Germany were twice in the 20th century that they were hauling wheel borrows full of Deutschmarks for a basket of groceries.

– Fake money and brought Hitler to power. The the Weimar Republic and
the Reichsmark and all this. Every time there's fake
money, tyrants rise up. Because people know something is wrong. – Yep. So here we go in this country. – [Robert] Right. – But Jim's attitude now
about cash really illustrates that the government, the
deep state, has won this war without legislation,
without public debate, they have won the war against cash. They've been at war at cash
because it's anonymous, they don't track you,
they can't follow you when you use cash, and
they've won the war. And so, the only alternative
people have to be off the grid, not to be tracked, not to be surveilled, gold and silver. That's it. That's all. – So once again, this is 1964. 1964, I was 17 years old and I
started looking at that thing like this. It was copper. The Romans did the same thing way back in at the end of their empire. So what were they doing when
they put copper in this thing? It's a law called Gresham's Law.

What does Gresham's Law mean? – Bad money drives good
money out of circulation. – So this money went into hiding. So I had bags of it. They said, "Go caddy, take my dollars, go to the
bank and pull out all the real stuff and hide the real stuff." I didn't know what I was
doing. I was 17 years old. Wasn't the brightest kid on the block. But I just knew this was fake. This was fake now. And then I come back
from school a year later, my mother spent it. That was a powerful lesson. AARP turned it down, they said,
"You're cruel to your mom." And I said, "Okay." Anyway, poor people don't
know real money from fake money. So that's why we have Sara here. So what happened in '71, this became debt. So our company, at Rich Dad,
we encourage people to use debt. This is my other friend here. He's a financial planner who
doesn't recommend the 401k. John McGregor's, this is "The Top 10 Reasons
Why the Rich Go Broke." One of the reasons they go
broke is they have a plan for their money, but they
have no idea what money is.

– Well, and I've talked
to people all the time that are multimillionaires,
they sold their business, they did this, that and the other and came into all this cash
that's sitting in the bank and said, "Well, you think
I should buy some gold with some of this?" I said, "Well, you know what they're
doing with the dollar, you know that they keep printing them, they can't print gold. Now you tell me how much
you can afford to lose of all that money sitting
in the bank, and I would say leave that there and get
the rest of it in gold." It's a bigger risk having paper money.

It's depreciating.
– It's a guaranteed loss. – And eventually, these
are going to be worthless. And we're in the 51st year of
fiat money when Nixon closed the gold window. A currency has never lasted
more than 50 years until now. And we're in year 51. How are we any different than
anywhere else in the world? – That's '71- – To 2023. How are we any different? Look what they've done in Venezuela. They were one of the richest
countries in South America, in actually, the Western hemisphere. Look what they've done to Argentina. Look what they've done in Cuba. Look what they've done in Mexico. Same exact economic principles
that they broke there, we're doing the same things here.

– Somebody asked me once, "Charles, how many paper
currencies have gone broke, have gone worthless over time?" And the answer is all of them.
– [Robert] All of them. And the ones that people still
hold are only on their way. They just haven't arrived at
their final destination yet. – It's like I said, I'm 17
years old in 1964 going, "Something's wrong here." That's Gresham's Law. And I think that's one of the
reasons I'm a rich person, is I know real from fake. And then, so when Nixon
took the dollar off the gold standard in '71, I didn't
really know what that meant. But the first course, I
was in Vietnam in '73, I came back, '74, they made this legal. Remember that? It was illegal.

So I had to smuggle
that, I was in Hong Kong, I had to buy my South African
Krugerrand in Hong Kong. I had to smuggle it into the country. Why was that? – It was in '74?
– Yeah. – Yeah, because it was illegal
to own in bullion form. – Well, in '73 I brought it in. – It was a felony. It was a felony. They could put you in prison
for 10 years and charge you $10,000 fine. They made it a felony for
Americans, free people, to own monetary gold and silver. Or gold anyway. It was a felony. Was it dangerous? Was it going to blow up? Was
it nuclear contamination? Was it going to kill your
neighbors with poison? What was wrong? Well, it was of course,
you know the answer, it's always the same
answer, the government grabs all the gold cause it wants it for itself, so you can't be allowed to have any.

It's exactly what they did. – At that time there were
two very good senators, Steve Sims and Jesse Helms, who introduced the idea of
Americans owning gold because foreigners could own gold
and Americans couldn't. And if there's anything to be
said good about Gerald Ford, it was that he signed the
bill after it passed through both houses to make gold legal to own. Now unfortunately, at the
time, gold was around $200 an ounce, and over the
next year and a half or so, it dropped to 100. So a lot of the curiosity
of owning gold disappeared. But fast forward to the Jimmy Carter days, 1976, gold went to 100. And by the end of
Carter's term it was 850. And silver went from about
$3 an ounce to $50 an ounce in that four year period. – So during Carter's trend, this was 850? What is this today? – 2,050. – So why would you save this trash? (Charles laughing) That's what I'm saying here.

– It's fake. How about that to sum it up? That's fake. – [Jim] It's a trick. – Another thing I want to
say, cause I'm a history buff, it's about the only subject
I did well in school, the reason he doesn't like the 401k is in 1974 when Ford put us
back on, we could own gold, they put us on the 401k. (indistinct) And today, this is the biggest
reason you want to own gold. Because our pensions, as they
keep raising interest rates, our 401ks are going down. But not only this, my book
wrote with the Ed Siedel, is our pensions are broke. So as the firefighters, police
officers, school teachers, their pensions are gone. So the fed's going to have to print. That's my whole summation. – Well, and what's crazy
about it too is that you get your statement online
every month and it says, "Oh my god, look, I have
$500,000 in my pension plan. Boy, that's going to last
me till the year 2050." It's not going to.

The dollar's not going to
be there, first of all, and the pensions are gone too. But gold will be there forever. – This will be here. This is God's money. We used this as money
for about 5,000 years. But God put it here on the
earth, and that's when I was in the Andes with my old Inca friend, I said, "Geez, look at those holes." He says, "Yeah, we've been
digging longer than you have." And I was in Mongolia, same
thing, there's a place called the Checker Board.

They call it the Checker
Board because the Mongolians, this is thousands of years
ago, were digging for gold. Now they didn't have internet,
they didn't have iPhones and all this stuff. Humans intuitively knew to look for gold. That's what blew me away. – Well, and when you think about- – Except for the women at Safeway. They don't know gold from silver. – [Charles] They need a salad bar guru. (Robert laughing) – When you read the stories
about all the Spanish ships that have sunk over the years
coming across the Atlantic, and the explorers go down there, they're not going down there
looking for the currency of the realm of the day and
see if the paper survived; they're going down there
looking for the gold, they're going down there
looking for the silver.

And they find it. And what's amazing is
that if this bar had been in the bottom of the ocean for 500 years, it'll still be in this pristine condition. It doesn't rust. It doesn't erode. It will do the same thing
now 500 years later. And they've brought some
amazing coins that have been in the Spanish ships that
were in pristine condition, that have graded out
un-circulated, like it was the day that it came out of the mint. – What's that joke? Who's the guy in the fed? – [Charles] Ron Paul.
– Ron Paul, he said if a Spanish ship went down with gold, another ship went down with dollars, people would stop diving for dollars.

(all laughing) They still dive for gold. It's kind of a funny thing, but it's sad. But another thing too is I had a pile of extra
silver I bought from you, and I was handing them
on his Christmas gifts. It's $30 let's say. And one woman had four kids. I said, "Give each one of
your children one of them." One silver coin. I said, "It'll there when they
graduate from high school." "No, they'll probably have spend it." I said, "Yeah, they probably will." But that's the problem. I save this. I say in "Rich Dad, Poor
Dad," savers are losers because they save this. If you save this, and if you save this, what is this here? – $30.

– Yeah, well what? – Silver, it's a silver round. Just a generic silver one ounce piece. – It's a buffalo.
– Yeah. I'll call up Jim and
say, "I want buffalos." So he knows what I'm talking about. There's different goofy
kind of coins out there. But I'd rather save this
cause this will be here 10,000 years from now. This won't. You can pass it on from
generation to generation to generation. – I'll be surprised if that
paper dollar is here even 10 years from now. – I doubt it. Yeah. So anyway, we're in very
serious, serious trouble here. And this is the hottest subject going. For years, I've been saying buy silver because everybody can afford silver.

When I offer them this
for $3, they went nuts. They went, "Why would I buy that?" Because they'd rather have this. That's the lesson. Final words there, Mr. Jim. – Well, we sure appreciate
all you do for the freedom movement, Robert. And speaking about gold and
speaking about the fake money that we're passing around, it's a great lesson
for the next generation whether we realize it or not. At our age, and doing all
this for 50 years or more, we've got a great legacy to
pass on to the next generation because they just don't know. And you are a patriot in the
true sense of the word, sir. Thank you for having us. – Thank you. – Robert, let me ditto that
too, because we're in for some really rough sledding in this country. There's some rough patch of road ahead and it didn't have to happen and
now it's going to happen. And as bad as it's going to be
for the people who understand the lessons that you've been
doing in your educational efforts and teaching them about money, the ones that take action
based on those kinds of recommendations and that
learn about this stuff, they will be so much better off.

And the more of them there are
the better off we'll all be because maybe we can have
some kind of commerce still continue when the whole
thing goes topsy-turvy. So thank you, Robert. – How many of the layoffs
are just starting right now? This is January 2023. – 10,000 at a crack by these companies. 10,000 here, 10,000 there. – [Robert] Because
they're working for this. – Yeah, and this is horrible stuff. These are people that are
living paycheck to paycheck like we've never seen before,
and their personal debt has never been so high as it is right now. – It's a disaster. – And there's now called
the working homeless.

They have jobs but they
can't afford to live. – [Charles] Sleeping in their cars. – Yeah. That's because this is fake.
– [Charles] Yep. – Well we have a lot more
information on our website by the way, Robert. – The reason I invited you guys
cause you actually do teach. If you were just promoting your company, you wouldn't be here. So what is a book you have
and what is your website? – Okay, the website is RMEGold.com.

– Dot what? Com? – .com, and then my- – I thought you said .gov, I was going, I didn't know you were a fed. (all laughing) – And my book is "Real
Money for Free People, the American Gold Story." – In fact, people that are in
the Phoenix area can stop by, Jim will sign a copy of the
book and give it to him.

But his book is a really good book. And there's a ton of
information on the website too to bring people up to
speed, to learn the lessons that you teach, like
the lessons about fake. And we have a new post
going up, for example, about your book, about pensions. – [Robert] Oh, thank you.
– Cause it's so important right now, especially now the
Congressional Budget Office just announced that Social
Security's finished at 2033. – Yeah. And the reason I wrote this
book was because in '74, that's why McGregor wrote this book here. That was a 401k. But that's when the pension
started getting looted.

And now our generation,
the Boomer generation's in serious trouble for retirement. Cause I don't think
it's going to be there. – The American people lost
26% in their 401ks in the last year, through October, so it's very grim. – And that doesn't even
take into consideration the depreciating dollar to go with it too. – So, okay, watch's your website again? – RMEGold.com. – RME. And then your book here is, Charles Goyette, Red, Blue. – "Red and Blue and Broke All Over: Restoring America's Free Economy." – You're an optimist, aren't you? – My publisher said, "Write
that book about how to put it back together, I said,
"You know they're not going to do that." And they're not, but it's there anyway.

– They're going to keep
printing this because this gets more valuable. – We're beyond the point of no return. – [Charles] Yeah. – The sad thing about it is,
as the price of gold goes up, everybody else gets poorer. That's what breaks my heart. I love those girls at Safeway
serving me their salad and coleslaw and all this. It just blew their mind, they said, "$2 for this?" But that's what America
has sold the world there.

That this is valuable and this is fake. This is real. This is fake. – I'll give you $2 for
it, Robert, right now. – I know you would, that's
why I'm keeping it tight here. Here's my silver; the Lone
Ranger had the silver bullet, this is my silver bullet
from Dana Samuelson. Bite the bullet. (all laughing) So thank you, gentlemen.
Thanks for being teachers. And they have inventory. When things were really tough
I was scrambling because- – We were never without anything. – I'll tell you why I was panicking, if I waited a few more
days, the price would go up. And then when I ran in
there and then you guys, not you guys, but my other friend couldn't deliver me silver, I went. And I said, "What am I going to do?" So I bought it that day
anyway for future delivery.

So it was a gamble, so
basically a future delivery. – [Charles] Right. Yeah. – [Jim] it sounds like you did all right. – Yeah. Two last things: there's a thing called distribution and accumulation. Price of gold and silver is low, and silver and gold and
oil, I'm accumulating. I've been accumulating since '72. I own more gold than most people. Most of the gurus on TV. I own gold mines, silver mines because I believe in this stuff,
cause this is God's money. This is fake money. Thank you, gentlemen.
– [Jim] Thank you, sir. – [Charles] Thank you Robert.
– Pleasure to be here. – And when we come back, Sara
be back with a final word here.

So thank you, gentlemen. (upbeat music) Welcome back, Robert Kiyosaki,
"The Rich Dad Radio Show." Thanks to Jim Clark, the
Republic Monetary Exchange, RME, and Charles Goyette of
Republic Monetary Exchange. Because this is the hottest
subject of all today. It's silver and gold because this is fake. So Sara, if you have friends and
family who are still hoarding this stuff here, haven't
listened to this program and discuss it with them,
because I'm now called the Salad Bar Guru. (all laughing) I thought it was hysterical,
but it fried their brains.

What's the difference
between this and this? One's fake, one's real. So Sara, what questions do you have? – [Sara] Yeah, well,
just wanted to mention, my brother for my niece,
she's 11, he said, "No more presents. From now on we only want
you to get her silver." So every year, each sibling
gets her some silver coins. And I was like, "Man, he's so smart." Anyway, I just wanted to
point that straight out. But my questions to you
are, can you briefly discuss the different markings? What does that identify on the bars? – Okay, so this has the size of the bar, which is one kilogram. Valcambi is one of the
worldwide known refiners of silver. It has their logo on it. It's been stamped with the serial number and the finest of 3.999 fine silver. The gold, a little different.

It lists the number of ounces and this is four nines fine. Also with the serial number. And as you saw earlier, we
put the spectrometer to it to show that indeed, both of those are pure silver and pure gold. And if there's any doubt with anybody buying silver
and gold, is it real? We can put the spectrometer to it and show that it is exactly
what the purity should be. – [Sara] Awesome. The second question I have
is, Robert had held up his buffalo and you called it
a generic one ounce coin. What's the diff? – So the US Treasury
and various governments around the world, Canada, South Africa, make a coin of the realm,
meaning an American Eagle for the United States. So the treasury makes that coin. The premium is significantly
higher for that than it is for this, but it's
exactly the same properties, same weight, same size and everything. – Wait a sec, so if
this was a Silver Eagle, but this is, I call this a buff, what's the price difference? – It's going to be $6, $7 and ounce more to have the name brand,
but silver's silver.

So it depends if you, "Well,
I only buy a name brand, I won't buy Costco brand of
something, but I will buy the real ones that you hear
on television all the time," even though it's exactly the same thing. So you get more silver for
fewer dollars if you buy it in the buffalos or what we call generic. But recognized as being
a coin of the realm and something that you can be
sure that it's the purity that it's supposed to be. So reputable private,
refineries make the buffalo, the US Treasury makes the
American Silver Eagle. – Why would somebody pay the difference? – Why do they? – No, I mean-
– [Sara] Why do they buy- – Money's is no object
and they don't mind paying $6 an ounce more, and it's
a US Treasury stamped coin.

But you get more when you sell it too. – I bought considerable amounts from Dana in Austin, Texas, and he traded out my Gold
Eagles for regular gold. And I said, "Why?" He goes, "I don't know,"
but he says, "You just made a lot of money." So instead of having 10
ounces of gold, I now had 15 ounces of gold.

But just because one from
Eagles to something else. All I want is the ounce of gold. And as long as it's pure,
I don't really care. But some people do, right? – Yeah. And either one of those,
it's all recognized for them. So it's personal preference at that point. – [Sara] That was a big
question, cause Robert, if you remember back in
October, the team made a big silver buy, and
that was a big question, when we got the price sheet, we were like, "Why would we pay, if it's
the exact same thing," but that makes sense. Just a name brand difference. – This is when we couldn't take delivery, we're buying a lot, so we
bought it from Andy Schectman. It was a lot of silver and gold we bought. – [Sara] The last question is, in the beginning of the
conversation we had talked about why you didn't want to
take cash, and you said it's a hassle.

Is it also true because cash is devaluing so fast,
it's not really a fair trade. I mean, not fair, but
you know, even trade? Do you feel that way at all? – Well, it's cumbersome. And banks typically
don't want to take cash, and ironically, they don't
want to give cash out either. So we've had situations,
people wanted to go withdraw $100,000 in cash
at the bank, they'll say, "Come back in three or four
days and we'll accumulate it for you, but we don't have it here." I say don't even do that. Just
wire the money over to us. It's just boom, boom, boom. Simple, we don't have to worry
about any counterfeit cash, although our machines pick it up anyway. It's a cumbersome thing
to do, but I look at the big picture; some point down the road, this cash is going to be worthless.

And if the banks don't want
to take it in deposits, I don't want to be stuck
with $2 million or $3 million in cash and lose that. I would rather have money in the bank. Not money, but I mean fake
money in the bank that I can buy real silver and gold with
and have that on the shelf rather than cash sitting there
that is devaluing every day. – [Sara] Yep. Good. Great. That was it. – Final word, Mr. Goyette. – Hey, thanks for having
us on again, Robert. – And this is your book here. Got to plug the book. – One of one of several. And it's about "Red and
Blue and Broke All Over" and how the country is broke all over and the exact story you've been
trying to explain to people for a very long time, and now here we are.

– Another thing we do, Sara, is I send out a newsletter every week, my blog basically, that gives a synopsis of
what's going on the past week and maybe what we're seeing down the road. And just keeping clients and prospects informed of
how we see the market. And whether I'm smart or
not, it doesn't matter, I've been at this 50 years,
I've got a lot of experience and I can share a lot of information that I've acquired over the years. And I encourage people to go
to our website RMEGold.com, and you can sign up for the newsletter. There's no charge, we email
it out every Sunday afternoon or Monday morning, whenever we
put the finishing touches on. And I would encourage
people to sign up for that at RMEGold.com – And that's why we
invited Charles and Jim, because they are educators like Rich Dad. I buy, I don't sell this stuff. (Robert chuckling) I do trade occasionally. But anyway, so thank
you very much, gentlemen and thank you all for
listening to "The Rich Dad Radio Show," and remember, this is fake and this is real.

How much is this today? – That's about $5, so
you were really cheap when you were saying $2 or $3. – Oh my god! I was going to get taken. The salad bar ladies
were going to take me. (all laughing)
– [Sara] That's why he said, "I'll give you $3 for it." – They were trying to cheat
me at Safeway. My god. – You're behind the times, Robert. You forgot how quick
this dollar is devaluing. – And they're raising
the price of the coleslaw on top of that.

(all laughing) So thank you, gentlemen. – [Jim] Thank you.
– [Charles] Thank you. (upbeat music).

As found on YouTube

401K to Gold IRA Rollover

Read More

How To Retire At 30 Living Off Investments

in order to live off of
your investments completely. And I know that the title of this video may sound crazy about retiring by 30, and there are a lot of people
out there selling a pipe dream of you can retire by 30
as long as you invest in this course, or go buy real estate and while that may work for some people I'm not here to sell you guys a course or to pitch you on any
kind of product like that. What we're going to
simply talk about here is how much money you need to have invested in order to live off of your investments and essentially not have
to work to earn your money.

And believe it or not, there's
actually countless people out there who have in fact
retired as early as 30 years old, by following this exact strategy
that I'm going to outline. So if this idea of retiring early and not having to work for your money is something that interests you. What I want to ask you
guys to do is go ahead and drop a like on this
video just show your support. I really do appreciate
that as it helps out with the algorithm and allows this video to get shared with more people. But what we're going to look
at in particular in this video is something called the 4% rule, and that essentially
shows you just how much money you need to have set aside, in order to live
off of your investments. Now you can in fact live off of different types of investments like real estate or the stock market for
example or a business that's providing income for you. But what we're going to use in this video as an example is a passive
stock market investment, and we'll show you exactly
how much money you need to have invested in order
to live off of that income.

So the goal here with this
strategy is to simply invest your money and have a large
amount of money invested and then you would
essentially be living off of the interest income or
the growth of that money without touching the principle. And as I'm sure you guys can imagine if you're not touching the principle or your initial investment, then your money could
foreseeably last forever. Now, the sooner you're able to retire is all based on how much
money you're able to save up and how little money you are
spending each and every month, and there's actually a
whole movement of people that are following this
exact strategy, and it's something out there called FIRE, and FIRE stands for financial
independence retire early. And there's a lot of
people who are doing blogs and videos and all kinds of
stuff about this concept, and there are countless
examples out there, of people who have retired
as early as 30 or even less.

By following these strategies. Alright guys so there's
basically three steps you have to follow in order to do this, and as I'm sure you can imagine, step number one is to be frugal or to spend as little money as possible, because ultimately what
you're looking to do is save and invest enough
money that the interest or the dividends, or
whatever the growth is pays for your monthly living expenses.

And as I'm sure you guys can guess if your monthly expenses
are $6,000 versus $3,000, you're going to need a
lot more money invested to cover those expenses. So being frugal and saving
as much money as possible is actually going to serve
two different purposes here. Well, number one, the
less that you're living on the more of your paycheck
you're able to save up, and the more of your paycheck
you're able to save up, the more you're able to
contribute to that freedom fund, which will eventually be paying for all of your living expenses. And then second of all by spending as little money as possible
every single month, you actually don't need
to save up as much money to potentially live off of the interest or the growth of your money.

And we're going to go over
those exact numbers right now. Alright guys so step number two
that you have to follow here is going to be a tough one, but that is going to be saving 50 to 70% of your take home income and again, if you're looking to
retire by 30 years old, let's say you want to work from 20 to 30, and then not work for
the rest of your life, you're going to have to take
some drastic actions here. And that is why you need to live off of a microscopic amount of money. And that's why step number
one is so important, by cutting down as much as possible on those monthly expenses. So people who are trying to do this, you're not going to see
them driving brand new cars, you're not going to see
them going on vacations, they're probably going to be,
you know, eating canned beans and doing campfires in the
backyard as summer entertainment. Not that there's anything wrong with that, but they are literally spending
as little money as possible, because they're focusing
on the long term picture of what they are trying to do.

So people who are following
this FIRE movement are often aiming to save 30
times their annual expenses, and that will allow them to
withdraw about 4% per year without basically touching that principle and that is where that
4% rule comes into play. And that is basically where you're able to draw from an account about 4% per year, and over a long period of
time based on the growth of that account and those investments, it shouldn't be chipping
away at the principle which should in theory
give you unlimited money. So what you're aiming
to do here is to lower your monthly expenses as much as possible. Figure out what it costs
you to live per year, multiply that by 30, and then
save up that amount of money by saving 50 to 70% of your
paycheck every single week or month, or however often
you are getting paid. Alright so now the question
you guys have been waiting for, just how much money do
you need to have saved up and invested to live off of that money following the 4% rule. Well if your annual expenses
are $20,000 per year, they would recommend having 30 times that amount of money saved and
invested, so $600,000.

If your annual expenses were $35,000, that number becomes 1.05 million. If you're somebody
spending $50,000 per year on your living expenses
you would need to have $1.5 million saved and invested,
and for the final figure here, if you spent $100,000 per
year on cars and housing and food and all of that,
you would need to have about $3 million to successfully
follow this strategy. So I'm sure this goes without saying guys, the best way to follow the strategy and to reach that retirement as quickly as possible is going to be
to keep your monthly expenses as low as possible. And just to put it in
perspective for you guys, every additional $100
that you spend per month, if you follow this is
an additional $36,000 you need to have set
aside in that freedom fund to support that $100 of monthly spending. So if you're serious
about this and you want to retire at 30, or even younger, you are spending literally as little money as humanly possible. Alright so the final step
to following this strategy is going to be passively
investing in the stock market. So most people following this strategy are actually following
the Warren Buffett style of passively investing in index funds.

And if you're not familiar,
index funds are basically a way for you to have diversified
exposure to the stock market. Where you're not essentially
picking what stocks are going to outperform,
you're just passively owning the entire market. So people following this strategy are not out there trying
to beat the market, they are not stock
traders or stock pickers they simply passively invest
in these low fee index funds, one of the most popular ones being VOO or the vanguard 500 fund. And essentially what you are doing, is buying a small piece of the 500 largest publicly traded companies out there, and all the different
dividends those companies pay are all collectively put together, and then you earn a quarterly
dividend from that ETF. And over the last hundred
years or so the stock market, on average, has returned
about eight to 10% per year. So if you were only drawing
4% from that account, based on historical data, you should never be
touching that principle over a long period of time.

And that is how you would
be able to live off of 30 times your annual income, if you save that money and invest it. Now that being said that
is the perfect segue into the sponsor for this
video which is Webull. So if you guys are
interested in getting started with investing in the stock market, this is a totally commission
free broker out there, meaning you're not paying
any fees to please trades with them and you can
purchase the Vanguard 500 ETF that we're talking about in this video right on that Webull platform, and not only that, they're
willing to give you up to two completely free stocks just for opening up an account with them. Number one, if you open the account, you're going to get a free
stock worth up to $250, and then when you fund the account, you'll get an additional
stock worth up to 1000.

So if you do the math there, that is two completely free stocks worth up to $1,250. Now I am affiliated with Webull, so I do earn a commission in the process if you use my link, but
if you guys are interested in grabbing two completely free stocks that is going to be down
in the description below. So finally, the last
thing I want to do here is to put all of this together, and go through a real
example of how you could in fact follow this strategy and even retire by 30. Now again, this is going to
require some very drastic saving because essentially you're trying to work for about 10 years of your life and then not have to work
for the rest of your life. So most people will never
be able to accomplish this, because of the amount of
sacrifice that is required, with that being said, let's go ahead and run
through the numbers now. So let's say you're earning
a salary of $75,000 per year from your job, and ideally,
you don't have any, you know school loans,
student loans, medical bills, or anything like that.

So you haven't gotten
sucked into the consumerism and you don't have like a brand new car so your expenses are as low as possible. And I know this sounds like
you know theoretical situation, but this was actually
about the same situation I was in, when I graduated
college I was 20 years old, now I was making about $68,000, so a little bit less, but I had no debts, I had no car payment,
and so I was somebody who could have potentially
followed this strategy. So after you pay your
taxes, your take home pay is going to be around $56,250. Now we know already in
order to pull this off, you need to save 50 to
70% of that take home pay in order to actually build up enough money to live off of that income. So we're going to assume
you are saving 70% of that take home pay. So you would need to live off of 30% of that post tax income, which
amounts to just over $16,000, or around $1400 per month. Now, is that possible? It absolutely is.

Is it easy? Absolutely not, you're certainly not going to be going out to the
bar and buying beers or going out to dinner,
you're probably going to be living in a tiny apartment driving an old car and eating at home for breakfast, lunch, and dinner. But if that type of
sacrifice is worth it to you for the long term picture, it is something you may
be willing to do yourself. So each year you would
be saving and investing a staggering amount of money, which is 70% of your take home pay
or just over a $39,000. And that is how you would
be able to pull this off, and assuming you kept that
cost of living the same at around $16,000, just over 16,000.

Your freedom number, or 30
times your annual expenses, would be just over $506,000. So, how long would it take
you to save up that money? Let's go ahead and answer that now. Well if you took that
$39,375 per year of money that you are saving and
invested in the stock market, earning 8% return, and
as we said, historically, it's an eight to 10% so we're going to go on the conservative side, well in 10 years at 8%
return career you would have $570,408.40, meaning you could then, if you kept those living
expenses the same, following that 4% rule, not have to work for your
money past that point. And just to circle back
guys what this really comes down to is the level
of sacrifice involved. Are you really willing to live
off of about $1400 per month, or do you want to have vacations and going out to get dinner
and things like that? So it's not people who are doing this that are out there traveling and dining it's people that are living
as frugal as possible and finding enjoyment
in other areas of life other than just, you know,
spending money on dining and things like that.

Now, is this a strategy I
would personally follow? Probably not because I
am one of those people that enjoys traveling, I enjoy dining, and I do spend a little bit
more than the average person, so my freedom number would be
multiple millions of dollars, but instead I follow the
strategy of earning as much as possible and saving a
lot of that earned money, and then eventually allowing
that to supplement my income by having that interest
or the growth of my money paying for a lot of
those things that I want. And believe it or not,
guys, there are honestly countless people out
there that have followed this exact strategy and
retired at 30 or less. One of the most well known people being Mr. Money Mustache, he has a whole blog where he documented this whole journey of becoming financially
independent and retiring early with both him and his wife.

So I'm going to link up his blog down in the description below
as well as a couple of other stories about
people who have followed this exact strategy and
retired at 30 or less. So that's going to wrap
up this video guys, thanks so much for watching. If you're new to this channel, make sure you subscribe and
hit that bell for notifications so you don't miss future videos, and I hope to see you in the next one..

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Why Retirement Income is so Important

Canada is getting older in 1980 less than 2 A5 
million Canadians were over the age of 65 around   9% of the Canadian population recently that 
number was over 7.3 million almost 19% of the   population in 1980 the average 65-year-old could 
expect to reach 81 now the average 65-year-old can   expect to reach 86 and there are almost 50% more 
Canadians aged 100 or older than there was two   decades ago basically more Canadians are getting 
older and living longer which poses a significant   challenge for retirement funding traditional 
retirement savings have relied on withdrawing   from a fixed amount of capital with some cash 
flow from CPP OAS and fixed income Investments   like bonds and gic's however as Canadians live 
longer they may expect significant costs down   the road such as long-term care at the same 
time most of these fixed income Investments   are paying at rates below current inflation 
levels and what about running out of capital   some Canadians are faced with the difficult 
and complex choice of delaying retirement or   going back to work compromising the retirement 
lifestyle dreams or passing on the cost of care   to the Next Generation attractive and steady 
monthly income can help simplify things for   retirees Harvest Equity income and enhanced Equity 
income ETFs pay consistent monthly income at rates   above inflation they are RSP and riff eligible 
they hold portfolios of established companies   that remain exposed to market growth High income 
from Harvest Equity income ETFs can help retirees   offset their Rift payments supplement income 
and Live Well into retirement visit our website   for more information on harvest income ETFs for 
retirement Harvest income happens [Music] here

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How To Retire At 30 Living Off Investments

in order to live off of
your investments completely. And I know that the title of this video may sound crazy about retiring by 30, and there are a lot of people
out there selling a pipe dream of you can retire by 30
as long as you invest in this course, or go buy real estate and while that may work for some people I'm not here to sell you guys a course or to pitch you on any
kind of product like that. What we're going to
simply talk about here is how much money you need to have invested in order to live off of your investments and essentially not have
to work to earn your money. And believe it or not, there's
actually countless people out there who have in fact
retired as early as 30 years old, by following this exact strategy
that I'm going to outline. So if this idea of retiring early and not having to work for your money is something that interests you. What I want to ask you
guys to do is go ahead and drop a like on this
video just show your support.

I really do appreciate
that as it helps out with the algorithm and allows this video to get shared with more people. But what we're going to look
at in particular in this video is something called the 4% rule, and that essentially
shows you just how much money you need to have set aside, in order to live
off of your investments. Now you can in fact live off of different types of investments like real estate or the stock market for
example or a business that's providing income for you. But what we're going to use in this video as an example is a passive
stock market investment, and we'll show you exactly
how much money you need to have invested in order
to live off of that income. So the goal here with this
strategy is to simply invest your money and have a large
amount of money invested and then you would
essentially be living off of the interest income or
the growth of that money without touching the principle.

And as I'm sure you guys can imagine if you're not touching the principle or your initial investment, then your money could
foreseeably last forever. Now, the sooner you're able to retire is all based on how much
money you're able to save up and how little money you are
spending each and every month, and there's actually a
whole movement of people that are following this
exact strategy, and it's something out there called FIRE, and FIRE stands for financial
independence retire early. And there's a lot of
people who are doing blogs and videos and all kinds of
stuff about this concept, and there are countless
examples out there, of people who have retired
as early as 30 or even less. By following these strategies. Alright guys so there's
basically three steps you have to follow in order to do this, and as I'm sure you can imagine, step number one is to be frugal or to spend as little money as possible, because ultimately what
you're looking to do is save and invest enough
money that the interest or the dividends, or
whatever the growth is pays for your monthly living expenses.

And as I'm sure you guys can guess if your monthly expenses
are $6,000 versus $3,000, you're going to need a
lot more money invested to cover those expenses. So being frugal and saving
as much money as possible is actually going to serve
two different purposes here. Well, number one, the
less that you're living on the more of your paycheck
you're able to save up, and the more of your paycheck
you're able to save up, the more you're able to
contribute to that freedom fund, which will eventually be paying for all of your living expenses. And then second of all by spending as little money as possible
every single month, you actually don't need
to save up as much money to potentially live off of the interest or the growth of your money.

And we're going to go over
those exact numbers right now. Alright guys so step number two
that you have to follow here is going to be a tough one, but that is going to be saving 50 to 70% of your take home income and again, if you're looking to
retire by 30 years old, let's say you want to work from 20 to 30, and then not work for
the rest of your life, you're going to have to take
some drastic actions here.

And that is why you need to live off of a microscopic amount of money. And that's why step number
one is so important, by cutting down as much as possible on those monthly expenses. So people who are trying to do this, you're not going to see
them driving brand new cars, you're not going to see
them going on vacations, they're probably going to be,
you know, eating canned beans and doing campfires in the
backyard as summer entertainment. Not that there's anything wrong with that, but they are literally spending
as little money as possible, because they're focusing
on the long term picture of what they are trying to do. So people who are following
this FIRE movement are often aiming to save 30
times their annual expenses, and that will allow them to
withdraw about 4% per year without basically touching that principle and that is where that
4% rule comes into play.

And that is basically where you're able to draw from an account about 4% per year, and over a long period of
time based on the growth of that account and those investments, it shouldn't be chipping
away at the principle which should in theory
give you unlimited money. So what you're aiming
to do here is to lower your monthly expenses as much as possible.

Figure out what it costs
you to live per year, multiply that by 30, and then
save up that amount of money by saving 50 to 70% of your
paycheck every single week or month, or however often
you are getting paid. Alright so now the question
you guys have been waiting for, just how much money do
you need to have saved up and invested to live off of that money following the 4% rule. Well if your annual expenses
are $20,000 per year, they would recommend having 30 times that amount of money saved and
invested, so $600,000. If your annual expenses were $35,000, that number becomes 1.05 million. If you're somebody
spending $50,000 per year on your living expenses
you would need to have $1.5 million saved and invested,
and for the final figure here, if you spent $100,000 per
year on cars and housing and food and all of that,
you would need to have about $3 million to successfully
follow this strategy.

So I'm sure this goes without saying guys, the best way to follow the strategy and to reach that retirement as quickly as possible is going to be
to keep your monthly expenses as low as possible. And just to put it in
perspective for you guys, every additional $100
that you spend per month, if you follow this is
an additional $36,000 you need to have set
aside in that freedom fund to support that $100 of monthly spending. So if you're serious
about this and you want to retire at 30, or even younger, you are spending literally as little money as humanly possible. Alright so the final step
to following this strategy is going to be passively
investing in the stock market. So most people following this strategy are actually following
the Warren Buffett style of passively investing in index funds. And if you're not familiar,
index funds are basically a way for you to have diversified
exposure to the stock market. Where you're not essentially
picking what stocks are going to outperform,
you're just passively owning the entire market.

So people following this strategy are not out there trying
to beat the market, they are not stock
traders or stock pickers they simply passively invest
in these low fee index funds, one of the most popular ones being VOO or the vanguard 500 fund. And essentially what you are doing, is buying a small piece of the 500 largest publicly traded companies out there, and all the different
dividends those companies pay are all collectively put together, and then you earn a quarterly
dividend from that ETF.

And over the last hundred
years or so the stock market, on average, has returned
about eight to 10% per year. So if you were only drawing
4% from that account, based on historical data, you should never be
touching that principle over a long period of time. And that is how you would
be able to live off of 30 times your annual income, if you save that money and invest it. Now that being said that
is the perfect segue into the sponsor for this
video which is Webull. So if you guys are
interested in getting started with investing in the stock market, this is a totally commission
free broker out there, meaning you're not paying
any fees to please trades with them and you can
purchase the Vanguard 500 ETF that we're talking about in this video right on that Webull platform, and not only that, they're
willing to give you up to two completely free stocks just for opening up an account with them. Number one, if you open the account, you're going to get a free
stock worth up to $250, and then when you fund the account, you'll get an additional
stock worth up to 1000.

So if you do the math there, that is two completely free stocks worth up to $1,250. Now I am affiliated with Webull, so I do earn a commission in the process if you use my link, but
if you guys are interested in grabbing two completely free stocks that is going to be down
in the description below. So finally, the last
thing I want to do here is to put all of this together, and go through a real
example of how you could in fact follow this strategy and even retire by 30.

Now again, this is going to
require some very drastic saving because essentially you're trying to work for about 10 years of your life and then not have to work
for the rest of your life. So most people will never
be able to accomplish this, because of the amount of
sacrifice that is required, with that being said, let's go ahead and run
through the numbers now. So let's say you're earning
a salary of $75,000 per year from your job, and ideally,
you don't have any, you know school loans,
student loans, medical bills, or anything like that. So you haven't gotten
sucked into the consumerism and you don't have like a brand new car so your expenses are as low as possible.

And I know this sounds like
you know theoretical situation, but this was actually
about the same situation I was in, when I graduated
college I was 20 years old, now I was making about $68,000, so a little bit less, but I had no debts, I had no car payment,
and so I was somebody who could have potentially
followed this strategy. So after you pay your
taxes, your take home pay is going to be around $56,250. Now we know already in
order to pull this off, you need to save 50 to
70% of that take home pay in order to actually build up enough money to live off of that income. So we're going to assume
you are saving 70% of that take home pay. So you would need to live off of 30% of that post tax income, which
amounts to just over $16,000, or around $1400 per month.

Now, is that possible? It absolutely is. Is it easy? Absolutely not, you're certainly not going to be going out to the
bar and buying beers or going out to dinner,
you're probably going to be living in a tiny apartment driving an old car and eating at home for breakfast, lunch, and dinner. But if that type of
sacrifice is worth it to you for the long term picture, it is something you may
be willing to do yourself. So each year you would
be saving and investing a staggering amount of money, which is 70% of your take home pay
or just over a $39,000. And that is how you would
be able to pull this off, and assuming you kept that
cost of living the same at around $16,000, just over 16,000. your freedom number, or 30
times your annual expenses, would be just over $506,000. So, how long would it take
you to save up that money? Let's go ahead and answer that now.

Well if you took that
$39,375 per year of money that you are saving and
invested in the stock market, earning 8% return, and
as we said, historically, it's an eight to 10% so we're going to go on the conservative side, well in 10 years at 8%
return career you would have $570,408.40, meaning you could then, if you kept those living
expenses the same, following that 4% rule, not have to work for your
money past that point.

And just to circle back
guys what this really comes down to is the level
of sacrifice involved. Are you really willing to live
off of about $1400 per month, or do you want to have vacations and going out to get dinner
and things like that? So it's not people who are doing this that are out there traveling and dining it's people that are living
as frugal as possible and finding enjoyment
in other areas of life other than just, you know,
spending money on dining and things like that. Now, is this a strategy I
would personally follow? Probably not because I
am one of those people that enjoys traveling, I enjoy dining, and I do spend a little bit
more than the average person, so my freedom number would be
multiple millions of dollars, but instead I follow the
strategy of earning as much as possible and saving a
lot of that earned money, and then eventually allowing
that to supplement my income by having that interest
or the growth of my money paying for a lot of
those things that I want.

And believe it or not,
guys, there are honestly countless people out
there that have followed this exact strategy and
retired at 30 or less. One of the most well known people being Mr. Money Mustache, he has a whole blog where he documented this whole journey of becoming financially
independent and retiring early with both him and his wife. So I'm going to link up his blog down in the description below
as well as a couple of other stories about
people who have followed this exact strategy and
retired at 30 or less. So that's going to wrap
up this video guys, thanks so much for watching. If you're new to this channel, make sure you subscribe and
hit that bell for notifications so you don't miss future videos, and I hope to see you in the next one..

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The Millionaire Mindset: Secrets to Building Wealth with Robert Kiyosaki

[Music] thank you welcome back to our Channel where we Empower you to build wealth and Achieve Financial Freedom today we have a special treat for you as we delve into the wisdom of one of the most renowned Financial Experts of our time Robert Kiyosaki in this video we'll be sharing his 10 essential tips for Building Wealth and attaining Financial Freedom so grab a pen and paper because you won't want to miss these valuable insights tip number one focus on cash flow according to Robert Kiyosaki the key to Financial Freedom lies in generating positive cash flow instead of solely relying on a paycheck aim to build assets that generate income and increase your cash flow over time tip number two Embrace Financial education Kiyosaki emphasizes the importance of continuously educating yourself about money and investing by expanding your financial knowledge you'll be able to make more informed decisions and seize opportunities that others may miss tip number three leverage other people's time and money Robert Kiyosaki suggests using the power of Leverage to accelerate your wealth building Journey this can involve partnering with others utilizing loans or investing in assets that have the potential for exponential growth tip number four build multiple streams of income diversifying your income sources is a crucial step towards achieving Financial Freedom Kiyosaki advises creating multiple streams of income to increase your financial stability and protect yourself from relying solely on One Source tip number five be Fearless in taking risks while caution is important Kiyosaki encourages individuals to embrace calculated risks Building Wealth often involves stepping out of your comfort zone and seizing opportunities that others might shy away from tip number six Master the art of negotiation negotiation skills play a vital role in Building Wealth according to Robert Kiyosaki learning how to negotiate effectively can help you secure better deals increase your income and save money in various aspects of your financial life number seven develop a long-term mindset Building Wealth is a marathon not a Sprint Kiyosaki emphasizes the importance of having a long-term perspective when it comes to investing in building assets patience and persistence are key in achieving lasting financial success tip number eight surround yourself with like-minded individuals your network can greatly influence your financial Journey Kiyosaki advises surrounding yourself with individuals who share similar goals and ambitions this can provide support accountability and valuable opportunities for collaboration tip number nine continuously evaluate and adjust to Achieve Financial Freedom Kiyosaki emphasizes the importance of regularly reviewing your financial situation and making necessary adjustments this involves analyzing your Investments tracking your progress and adapting your strategies accordingly tip number 10 give back and share your wealth lastly Kiyosaki encourages individuals to give back and make a positive impact on the world as you build wealth and Achieve Financial Freedom remember to share your knowledge resources and contribute to causes that align with your values there you have it Robert kiyosaki's 10 essential tips for Building Wealth and achieving Financial Freedom now it's time for you to take action and Implement these strategies in your own life remember Building Wealth is a journey that requires commitment learning and adaptability if you found this video helpful be sure to give it a thumbs up and subscribe to our channel for more valuable insights on personal finance and wealth creation and don't forget to hit the notification Bell so you never miss an update we'd love to hear from you which of these tips resonates with you the most have you already started implementing any of these strategies share your thoughts and experiences in the comments section below let's engage and learn from each other's Journeys as always thank you for watching remember wealth and Financial Freedom are within your reach stay focused stay motivated and keep working towards your goals until next time

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Retirement Planning FACTORS | Age and Income

what to look for when selecting the right 
retirement plan so age is a big factor when   it comes to deciding which plan is right for you 
if you're offered a pension that's fantastic not   many companies do offer those nowadays however 
if you have the benefit of getting one then yes   take it but I also think you should also have a 
retirement plan in addition to your pension just   to diversify your savings another situation to 
consider is your financial situation so someone   with a higher income level is most likely going 
to want to prefer choosing their own retirement   plan because then they're going to be able to 
not only write off those contributions but also   distribute it later in life so it maximizes their 
potential to not incur penalties or other taxable   income kind of situations essentially the more 
money you make you're looking for more write-offs   you're looking to claim less you're looking to 
you know have security but you got to be a little   more deaf and clever in how you're taking your 
distributions so to not trigger taxable events

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Is gold a good investment in 2023? – Robert Kiyosaki, Jim Clark, Charles Goyette

(upbeat music) – [Narrator] This is "The
Rich Dad Radio Show." The good news and bad news about money. Here's Robert Kiyosaki. – Hello, hello, hello, Robert Kiyosaki, "The Rich Dad Radio Show." The good news and bad
news about this here. This is cash, and this trash. So today we're going to be
talking about the hottest subject on the market today, and it's not real estate, what it is here is this is gold, and this is silver, and of course there's Bitcoin.

So those are the three things. And the reason they're the
hottest subjects on the earth right now is because our money is fake. So this is one of my
favorite books here, "Fake." I'll tell you a quick story
before we get into why gold, silver, and Bitcoin is,
that I was at Safeway, and I'm kind of a guru at
the salad counter at Safeway.

(Robert laughing)
All the women were coming up to me going, "Hey,
what should we invest in? What should we invest in?" And I just happened to be
having in my pocket here, this is a pre '64 US quarter, and it's given to you by
my friend, Dana Samuelson, he's in Austin, Texas. He is American Gold
Exchange in Austin, Texas. Dana Samuelson. So he knows I'm a silver nut. So this is a pre '64, and
pre '64 means it's silver. After '64, it became fake money. It became this here. So I held this up here to the ladies, they want the hottest tip,
and I said, "Buy this here." They went, "Oh!" A quarter? I can afford a quarter." I said, "Yeah, but I'll
charge you $3 for it." And you should have seen their brains, the salad was flying all over the place. (all laughing) (Robert speaking gibberish) I said, "Okay, I'll tell you what, $2." (Robert yelling) They were screaming,
not screaming, but just, "Why would I pay you $2 for a quarter?" And I said, "But this is pre '64." They just could not figure it out.

Now, that's the lesson of today, is that people don't know
that our money is fake. And that's why Rich Dad
exists and all this. But the sad thing about it is, is that AARP turned on my article because I wrote a story of
my mother, I used to save real quarters, cause when
I was 17 years old, in '64, I saw the quarter go to copper.

It was fake. It was an alloy. So I started collecting
dimes and then quarters and half dollars. I had this big bag of real silver. And my mother says, "What are you doing?" I said, "This is real money." So this is, '64, '65, I
go to school in New York. '66, I come home, my mother spent it all. (all laughing) And so I wrote the story for
AARP, they turned it down. I said, "The lesson is
poor people are poor cause they don't know fake money." They don't know the
difference between real money and fake money. So this is a very important lesson here. I have some two friends here from years, and like I said, Dana Samuelson
of American Gold Exchange in Austin, Texas. This is a special category of silver.

It's called numismatic. And numismatic means
collectible and antique. And the reason I respect
Dana is because he was head of the American Numismatics. So I don't buy numismatic, I
don't buy collectible coins, I buy real gold, silver. But if I want numismatic,
like an antique Dodge or something, whatever it is,
if I want an antique coin, I see Dana because there's
a lot of fakes out there. A lot of fake coins. So you got to be very careful today.

But like I said, this
is the hottest subject. I have two great friends here. So Jim, and this is Charles Goyette here. This is his book here, "Red
and Blue and Broke All Over." (men chuckling) So Jim, how long have you
been in this business of gold? – 50 Years. – 50 Years.
– Yeah. – Our time is coming
on this one, isn't it? – Well, I thought it was
coming in 1973 when I got in the business. And it was just a year
and a half or so after Nixon had removed the gold and we got everyone off the gold standard. – The dollar was backed by this here. This is real gold. So in '71, this was pulled out too, right? – [Jim] Right. – Because you just print
as much as you like. – Well it was no longer
backed by anything. It was a Federal Reserve
note, which is no more federal than Federal Express. And we were required
to take that as money, whether we liked it or not. – Right. Right. Another thing too, I
was in Vietnam in '70. '71, I was on my way
over, '72 I was there, and '73 I returned and I
bought my first gold coin.

It was a South African Krugerrand. And the Vietnamese woman, gold was $35 for years, and then in '71 it floated
to about 50, let's say. And so I thought, "Well,
I'll go talk to her." She was behind enemy lines, I
flew my helicopter in there, tried to negotiate with her. I said, "Look, I'll give you 40 of
these for one of these. And she's going, "Spot." I go, "Let me say it again. 40 of these. for one of these," she goes, "Spot." I said, "What the hell
is she talking about?" Well, she was saying spot that day was 50. And all of a sudden here, I'm
a college graduate, hopefully, with my other college graduate,
two pilots standing there going, "We don't know
shit about money, do we?" So spot meant that on
that day, it was 50 bucks.

And I thought because she
was behind enemy lines, I could get it for 40. No such deal. Gold is gold. Spot is spot. Silver is silver. This is real money. So Mr. Goyette, Charles,
why did you write this? Tell us something about your background, why did you write this book here? – Well, one thing is Jim and I
were in the business together a very long time ago that
he was talking about. But you just reminded me about spot. I remember seeing the
"National Geographic" special, this is back in the 70s,
and they went to these guys, these kind of third worlders
in the Amazon rainforest, way deep in the jungle, and these people didn't have any clothes, didn't have any electricity, but they were panning for gold there.

And the camera crew came up
and tried to buy their gold and they knew what the
London goldfish was that day. (all laughing) They totally knew what the
world price of gold was, spot price of gold,
cause it's international, it's all over the world, and it's a real price
for real money, isn't it? – Yeah, the sad thing about
it is I think Americans are the least to know about money. Because we have the Federal Reserve note. I'll tell you one last
story; I was in Peru, I bought a gold mine in Peru. There's no rain, there's just baron hills, mountains up in the Andes. And I see these little
holes up there, I go, "What the hell's that?" And my little Inca guide says, "We've been drilling gold
here for thousands of years, asshole." (all laughing) I said, "I'm not the first guy up here?" "No, you're not the first guy up here." "My great, great, great,
great, great, great grandfathers were yanking
the stuff out for years." And Bizarro came to Peru
and killed them all, took their gold.

– [Charles] Stole their gold. – And so that's why the
Spanish became the empire at the time. Someone from Spain, England, America, America's gone now. So that's what we're
here to talk about today. And we're old enough, the
three of us, to understand that this here is real and this here is fake. But most people would rather have this. This is the problem. – Robert, I saw one of those
YouTube videos where the guys on the boardwalk in Santa
Monica, it's kind of like jaywalking, like what's
the name of the moon? But he's walking around
with a chocolate bar and a silver coin, and he says to the people, he said, "Would you rather have
this chocolate bar," or I think it was a silver bar. – [Jim] A silver bar. It was Mark Dice.

– Yeah. And the people go, "Mm, I'll
take that chocolate bar." (all laughing) So they get a $2 chocolate bar, or a- – It was a 10 ounce silver
bar, it was about $300. And they'd rather have the chocolate bar than the silver bar.
– [Charles] They know no better, it's Jaywalking America. – And I'll say this again, it's the most important lesson: poor people don't know the
difference between real money and fake money.

And that is what it comes down to. So it was in '71, this used
to be a silver certificate, now it's a Federal Reserve IOU. It used to be backed by gold up to, no, this was '67, '64, excuse me, it was silver. And then in '71, Nixon
took the gold out of it. Johnson took this out of
the silver certificate. – Yeah, I remember I was
telling you that story the other night. I remember in 1964 where
we're sitting around the TV, Johnson came on and said,
"Silver has become too valuable to be used as money." And just as I'm sitting here, my dad said, "That son of a bitch.

They're going to take the silver out and they're going to leave
us this garbage coins." And he didn't really
understand it, but he got it. And from that point on,
he saved silver coins. He had about $8,000 worth by
the time he cashed them in in 1980. – Yeah. And I was in South Carolina
where I have a home, and this guy said that his
father ran the theater, and his father said, "There's
just yanking out all the silver coins." The lesson again, is poor
people don't know the difference between real money and fake money. And that's why in "Rich
Dad, Poor Dad" I said, "The rich don't work for
money because it's fake." So the reason I like to have
Jim here and Charles is because this stuff is getting
harder to find right now.

And I was panicking cause I
deal with a lot of guys who have gold and silver. So I called my friends up,
"We cannot get silver." I went, "What?" This is about what,
seven, eight months ago, we couldn't get silver. So you guys are Republic
Monetary Exchange. – [Jim] Yeah.
– Yeah. On Camelback. And I called these guys,
they said, "We got plenty." – Jim has been very,
very good over the years at making sure that the
inventories are high. He could see when these
runs are starting and stuff and the premiums are
starting to go up and stuff. And he's always put his clients first. He makes sure, we're going
to commit a lot of capital to make sure that our
clients can come in the door and get their gold and silver.

The worst thing in the world
is these companies that say, "Well, give us your money now and then we're going to deliver
your gold or we'll send you your silver in six months or something." Don't do that! Don't do that. So Jim's just really
created a name for himself in his ability to always
deliver to his clients. – Well I've always stayed ahead
of the curve, that you can anticipate needs after
50 years in the business. – Well, not everybody can,
because I was panicking, Okay, well step back.
You have the spot price. So let's say today the spot's 20 bucks. There's a premium on top of this coin, or this coin, should I say. What does the spot and the premium mean? – On that particular coin,
it's typically between $4 and $5 an ounce over the spot price. – So spot is the price
all across the world? – Right. And then all of the
products and coins and bars and so forth, they will
be priced accordingly based on the availability, the demand, the cost of refining and
putting them in the coins and shipping and distributor
markup, dealer markup, our markup and all that.

So there's always a premium that you pay to get the finished product. – That's like the tip at
the end of the dinner. (all laughing) – No, it's worse than that. – Yeah! I was watching Fox News
this morning, Fox Business, and they were bitching
about how, she went, where did she go? Oh, she went to the dry cleaners and she charged her, she
put it on a credit card for her dry cleaning; it said, tip 20%.

She goes, "Why do I have to
tip you for my dry cleaning?" (all laughing) People are so desperate to
money because this is fake. It's terrible. – Well, and because they can print it so much that the value
is dropping every day. They print up billions every day. Look at the bills that they
signed of, 1.7 trillion. Where's that money coming from? Well, they've got to print it. Or they've got to create something through a keystroke entry. That means all the rest of
those Federal Reserve notes out there become worth just
that much less everyday.

– Yeah, this is trash. So I'll say it again, the
difference between rich people and poor people; rich people
know the difference between this and this. And so the Republic Monetary Exchange, there's a lot of people out there. Dana Samuelson, my friend,
he's my expert in numismatic. And I was impressed because
you guys had inventory. My other friend, Jerry Williams was out. And I said, "What the
hell?" This is a while ago, "What the hell's going
on?" It was running.

So it must mean there's
something going on because people would rather have this than this now, except for
the ladies at Safeway. (Robert laughing) – But they know now.
(all laughing) – It fried their brains. "Why would I give you $2 for that?" And I said, "That's the
riddle of the day, ladies." We're laughing, we had a great time. But it fried their brains. Said, "What, what, what, what?" And I said, "I have a book here for you, It's called 'Fake.'"
(Robert laughing) And this whole system is fake right now. So we come back, we're going more into how people lie, cheat and steal because anytime there's money,
there's a liar and cheater and stealer around there. I've been saying this for
years, this is God's money. This is fake money.

I like Bitcoin. I call it people's money. Now I don't know much about Bitcoin, but I'm just glad I bought it at six. That's all I know right now. So when we come back with
going more how you can know real money from fake money. Some of the other advantages of right now. I've been saying this for
years, I used to work for Lear, I still have Lear Capital Ads, I said, "Buy silver." And the reason is
everybody can afford this. I think this is about 30 bucks. How much is this today? – Just under $30 for one of those, yeah. – Everybody in the world
can afford 30 bucks. But they'd rather have this.

And that's today's Rich Dad
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The Rich Dad Radio Show." The bad news about fake money.

And again, we're talking
about this stuff is fake and this is real money. We have friends, dear
friends, this is Jim Clark from Republic Monetary
here in Phoenix, Arizona. And Charles Goyette, here's
his book, "Red, White and Blue and Purple All Over." And we we're going broke. And so you guys have been
in the business for a while. I've been in the business
since '72 when I first bought my first gold coin. I still have that gold coin. – [Jim] Wow.
– It's not stored in America though, it's
stored someplace else. – [Charles] Where is that? Oh, you don't have to tell. – I'm going to open my
blabber mouth on TV. (all laughing) That's like my attorney
stands in front of this crowd, he says, "Yeah, I have a lot
of gold, I keep it at home." I said, "Why don't you just
tell everybody where to go? Why not just give them your address too." (all laughing) Attorney's aren't the
brightest guys on earth.

(all laughing) – Well I have strangers that will ask me, "Now, where should I store this?" I said, "I don't know and I don't care." – [Charles] And don't tell me.
– Well don't tell me. So the FBI come, "Did you know?" So Jim, tell us about
what you have right here. You have silver and you have gold. – So I have the kilogram of
silver, which is 32.15 ounces, and then I have a 10 ounce gold bar. And of course, when you
see something that big, how do I know that's real? So we have a device, it's a spectrometer, that we can put, that X-rays the bar. And I've got it all set up. So what I'm going to do
is I'm going to point the device at the silver and I'm going to get a reading. Put it on there maybe
four or five seconds.

It will read right into the bar. It'll come back. And if you can pick that up, right on the screen it says
AG, which is the chemical sign for silver, 99.99% pure. You know that this bar is absolute. We can do the same thing with- – Is there such a thing as fake silver? (crosstalk) Not too long ago, they caught some. – There were some companies
years ago that were making the silver and gold and it
wasn't coming out exactly pure. And what happens then is if
we find that, we just throw it in the melting pot and
then bring it up to pure. Cause you don't want to sell
a bar that's 94%, 95% pure. So it's out there, which
is why we spent $20,000 on this piece of equipment that we can find a counterfeit bar.

If it's not pure gold, we know right then, and this is paid for
itself many times over. Because so many times
somebody will come in and say, "Well hey, I've got this big block of gold and I want to sell it." Okay, let's have a look at it. You go through it, it's pyrite, or it's copper, or it's zinc. – Jim Recer was telling
us, in the New York Bank, he says they found some fake silver. – The bigger the bar, the
better chance that there is. So I'm going to do the
same thing with this gold. Because that's really the valuable. With a $20,000 piece of
metal, you want to make sure that it's what it's supposed to be. Same thing. We come up, AU, gold. 99.99% pure. Which is exactly what it's supposed to be. – So this is January, 2023. What would this cost me, if
I walked into your place, Republic Monetary
Exchange on Camelback Road in Phoenix, Arizona, What would that cost me? – Just over $900 for that. – For that?
– Yeah.

– My God. And how much is this thing here? – That's going to be
around 2,000, over 2,000, 2,050 or more. – This is 2,000, this
is a gold, what is it? – Eagle. American Gold Eagle.
– American Gold Eagle. And that's 900? – Right, that's a kilogram of over. This is going to be close to
$20,000 for this gold bar. – What is that now? – 10 ounces of gold. – [Charles] That feels like
real money doesn't in, Robert? – Can I trade you this for this? (all laughing) – Go get 20,000 more of
those and we'll do it. (all laughing) – You're a little light. (all laughing) – Actually, on that subject,
we were talking about this the other night, Robert,
about cash for gold. I'm one of the few people
who absolutely despise cash for buying gold, and
you'd think just the opposite, that I couldn't wait to get cash. But banks don't want it. Try and deposit $20,000
or $50,000 in cash.

They'll turn you away and
say, "Well, we got to do this, that and the other, and
we've got to file this form and we got to do that." Hey, I would rather have a
bank wire than cash anytime. – Jim's story really
illustrates something with- – Wait. He doesn't want cash. And I thought the reason is
because it might be dirty or it's hot money or whatever it is. It's just a pain in the butt. – Well, it's that, but you know what else? I'm thinking down the road, let's say I acquire $1
million or $2 million in cash that the banks don't want to take.

When this currency is repudiated,
I'm going to be stuck. Just like the people in Germany were twice in the 20th century that they were hauling wheel borrows full of Deutschmarks for a basket of groceries. – Fake money and brought Hitler to power. The the Weimar Republic and
the Reichsmark and all this. Every time there's fake
money, tyrants rise up. Because people know something is wrong. – Yep.

So here we go in this country. – [Robert] Right. – But Jim's attitude now
about cash really illustrates that the government, the
deep state, has won this war without legislation,
without public debate, they have won the war against cash. They've been at war at cash
because it's anonymous, they don't track you,
they can't follow you when you use cash, and
they've won the war. And so, the only alternative
people have to be off the grid, not to be tracked, not to be surveilled, gold and silver. That's it. That's all. – So once again, this is 1964. 1964, I was 17 years old and I
started looking at that thing like this. It was copper. The Romans did the same thing way back in at the end of their empire. So what were they doing when
they put copper in this thing? It's a law called Gresham's Law. What does Gresham's Law mean? – Bad money drives good
money out of circulation.

– So this money went into hiding. So I had bags of it. They said, "Go caddy, take my dollars, go to the
bank and pull out all the real stuff and hide the real stuff." I didn't know what I was
doing. I was 17 years old. Wasn't the brightest kid on the block. But I just knew this was fake. This was fake now. And then I come back
from school a year later, my mother spent it. That was a powerful lesson. AARP turned it down, they said,
"You're cruel to your mom." And I said, "Okay." Anyway, poor people don't
know real money from fake money.

So that's why we have Sara here. So what happened in '71, this became debt. So our company, at Rich Dad,
we encourage people to use debt. This is my other friend here. He's a financial planner who
doesn't recommend the 401k. John McGregor's, this is "The Top 10 Reasons
Why the Rich Go Broke." One of the reasons they go
broke is they have a plan for their money, but they
have no idea what money is. – Well, and I've talked
to people all the time that are multimillionaires,
they sold their business, they did this, that and the other and came into all this cash
that's sitting in the bank and said, "Well, you think
I should buy some gold with some of this?" I said, "Well, you know what they're
doing with the dollar, you know that they keep printing them, they can't print gold.

Now you tell me how much
you can afford to lose of all that money sitting
in the bank, and I would say leave that there and get
the rest of it in gold." It's a bigger risk having paper money. It's depreciating.
– It's a guaranteed loss. – And eventually, these
are going to be worthless. And we're in the 51st year of
fiat money when Nixon closed the gold window. A currency has never lasted
more than 50 years until now. And we're in year 51. How are we any different than
anywhere else in the world? – That's '71- – To 2023.

How are we any different? Look what they've done in Venezuela. They were one of the richest
countries in South America, in actually, the Western hemisphere. Look what they've done to Argentina. Look what they've done in Cuba. Look what they've done in Mexico. Same exact economic principles
that they broke there, we're doing the same things here. – Somebody asked me once, "Charles, how many paper
currencies have gone broke, have gone worthless over time?" And the answer is all of them.
– [Robert] All of them.

And the ones that people still
hold are only on their way. They just haven't arrived at
their final destination yet. – It's like I said, I'm 17
years old in 1964 going, "Something's wrong here." That's Gresham's Law. And I think that's one of the
reasons I'm a rich person, is I know real from fake. And then, so when Nixon
took the dollar off the gold standard in '71, I didn't
really know what that meant. But the first course, I
was in Vietnam in '73, I came back, '74, they made this legal. Remember that? It was illegal. So I had to smuggle
that, I was in Hong Kong, I had to buy my South African
Krugerrand in Hong Kong. I had to smuggle it into the country. Why was that? – It was in '74?
– Yeah.

– Yeah, because it was illegal
to own in bullion form. – Well, in '73 I brought it in. – It was a felony. It was a felony. They could put you in prison
for 10 years and charge you $10,000 fine. They made it a felony for
Americans, free people, to own monetary gold and silver. Or gold anyway. It was a felony. Was it dangerous? Was it going to blow up? Was
it nuclear contamination? Was it going to kill your
neighbors with poison? What was wrong? Well, it was of course,
you know the answer, it's always the same
answer, the government grabs all the gold cause it wants it for itself, so you can't be allowed to have any. It's exactly what they did.

– At that time there were
two very good senators, Steve Sims and Jesse Helms, who introduced the idea of
Americans owning gold because foreigners could own gold
and Americans couldn't. And if there's anything to be
said good about Gerald Ford, it was that he signed the
bill after it passed through both houses to make gold legal to own.

Now unfortunately, at the
time, gold was around $200 an ounce, and over the
next year and a half or so, it dropped to 100. So a lot of the curiosity
of owning gold disappeared. But fast forward to the Jimmy Carter days, 1976, gold went to 100. And by the end of
Carter's term it was 850. And silver went from about
$3 an ounce to $50 an ounce in that four year period. – So during Carter's trend, this was 850? What is this today? – 2,050.

– So why would you save this trash? (Charles laughing) That's what I'm saying here. – It's fake. How about that to sum it up? That's fake. – [Jim] It's a trick. – Another thing I want to
say, cause I'm a history buff, it's about the only subject
I did well in school, the reason he doesn't like the 401k is in 1974 when Ford put us
back on, we could own gold, they put us on the 401k. (indistinct) And today, this is the biggest
reason you want to own gold. Because our pensions, as they
keep raising interest rates, our 401ks are going down. But not only this, my book
wrote with the Ed Siedel, is our pensions are broke. So as the firefighters, police
officers, school teachers, their pensions are gone. So the fed's going to have to print. That's my whole summation. – Well, and what's crazy
about it too is that you get your statement online
every month and it says, "Oh my god, look, I have
$500,000 in my pension plan. Boy, that's going to last
me till the year 2050." It's not going to.

The dollar's not going to
be there, first of all, and the pensions are gone too. But gold will be there forever. – This will be here. This is God's money. We used this as money
for about 5,000 years. But God put it here on the
earth, and that's when I was in the Andes with my old Inca friend, I said, "Geez, look at those holes." He says, "Yeah, we've been
digging longer than you have." And I was in Mongolia, same
thing, there's a place called the Checker Board. They call it the Checker
Board because the Mongolians, this is thousands of years
ago, were digging for gold. Now they didn't have internet,
they didn't have iPhones and all this stuff. Humans intuitively knew to look for gold. That's what blew me away. – Well, and when you think about- – Except for the women at Safeway. They don't know gold from silver. – [Charles] They need a salad bar guru. (Robert laughing) – When you read the stories
about all the Spanish ships that have sunk over the years
coming across the Atlantic, and the explorers go down there, they're not going down there
looking for the currency of the realm of the day and
see if the paper survived; they're going down there
looking for the gold, they're going down there
looking for the silver.

And they find it. And what's amazing is
that if this bar had been in the bottom of the ocean for 500 years, it'll still be in this pristine condition. It doesn't rust. It doesn't erode. It will do the same thing
now 500 years later. And they've brought some
amazing coins that have been in the Spanish ships that
were in pristine condition, that have graded out
un-circulated, like it was the day that it came out of the mint. – What's that joke? Who's the guy in the fed? – [Charles] Ron Paul.
– Ron Paul, he said if a Spanish ship went down with gold, another ship went down with dollars, people would stop diving for dollars.

(all laughing) They still dive for gold. It's kind of a funny thing, but it's sad. But another thing too is I had a pile of extra
silver I bought from you, and I was handing them
on his Christmas gifts. It's $30 let's say. And one woman had four kids. I said, "Give each one of
your children one of them." One silver coin. I said, "It'll there when they
graduate from high school." "No, they'll probably have spend it." I said, "Yeah, they probably will." But that's the problem. I save this. I say in "Rich Dad, Poor
Dad," savers are losers because they save this. If you save this, and if you save this, what is this here? – $30. – Yeah, well what? – Silver, it's a silver round.

Just a generic silver one ounce piece. – It's a buffalo.
– Yeah. I'll call up Jim and
say, "I want buffalos." So he knows what I'm talking about. There's different goofy
kind of coins out there. But I'd rather save this
cause this will be here 10,000 years from now. This won't. You can pass it on from
generation to generation to generation. – I'll be surprised if that
paper dollar is here even 10 years from now. – I doubt it. Yeah. So anyway, we're in very
serious, serious trouble here. And this is the hottest subject going. For years, I've been saying buy silver because everybody can afford silver. When I offer them this
for $3, they went nuts. They went, "Why would I buy that?" Because they'd rather have this. That's the lesson. Final words there, Mr.

Jim. – Well, we sure appreciate
all you do for the freedom movement, Robert. And speaking about gold and
speaking about the fake money that we're passing around, it's a great lesson
for the next generation whether we realize it or not. At our age, and doing all
this for 50 years or more, we've got a great legacy to
pass on to the next generation because they just don't know.

And you are a patriot in the
true sense of the word, sir. Thank you for having us. – Thank you. – Robert, let me ditto that
too, because we're in for some really rough sledding in this country. There's some rough patch of road ahead and it didn't have to happen and
now it's going to happen. And as bad as it's going to be
for the people who understand the lessons that you've been
doing in your educational efforts and teaching them about money, the ones that take action
based on those kinds of recommendations and that
learn about this stuff, they will be so much better off. And the more of them there are
the better off we'll all be because maybe we can have
some kind of commerce still continue when the whole
thing goes topsy-turvy.

So thank you, Robert. – How many of the layoffs
are just starting right now? This is January 2023. – 10,000 at a crack by these companies. 10,000 here, 10,000 there. – [Robert] Because
they're working for this. – Yeah, and this is horrible stuff. These are people that are
living paycheck to paycheck like we've never seen before,
and their personal debt has never been so high as it is right now. – It's a disaster. – And there's now called
the working homeless. They have jobs but they
can't afford to live. – [Charles] Sleeping in their cars. – Yeah. That's because this is fake.
– [Charles] Yep. – Well we have a lot more
information on our website by the way, Robert. – The reason I invited you guys
cause you actually do teach. If you were just promoting your company, you wouldn't be here. So what is a book you have
and what is your website? – Okay, the website is RMEGold.com. – Dot what? Com? – .com, and then my- – I thought you said .gov, I was going, I didn't know you were a fed. (all laughing) – And my book is "Real
Money for Free People, the American Gold Story." – In fact, people that are in
the Phoenix area can stop by, Jim will sign a copy of the
book and give it to him.

But his book is a really good book. And there's a ton of
information on the website too to bring people up to
speed, to learn the lessons that you teach, like
the lessons about fake. And we have a new post
going up, for example, about your book, about pensions. – [Robert] Oh, thank you.
– Cause it's so important right now, especially now the
Congressional Budget Office just announced that Social
Security's finished at 2033. – Yeah. And the reason I wrote this
book was because in '74, that's why McGregor wrote this book here. That was a 401k. But that's when the pension
started getting looted. And now our generation,
the Boomer generation's in serious trouble for retirement. Cause I don't think
it's going to be there. – The American people lost
26% in their 401ks in the last year, through October, so it's very grim. – And that doesn't even
take into consideration the depreciating dollar to go with it too. – So, okay, watch's your website again? – RMEGold.com. – RME.

And then your book here is, Charles Goyette, Red, Blue. – "Red and Blue and Broke All Over: Restoring America's Free Economy." – You're an optimist, aren't you? – My publisher said, "Write
that book about how to put it back together, I said,
"You know they're not going to do that." And they're not, but it's there anyway. – They're going to keep
printing this because this gets more valuable. – We're beyond the point of no return. – [Charles] Yeah. – The sad thing about it is,
as the price of gold goes up, everybody else gets poorer. That's what breaks my heart. I love those girls at Safeway
serving me their salad and coleslaw and all this. It just blew their mind, they said, "$2 for this?" But that's what America
has sold the world there.

That this is valuable and this is fake. This is real. This is fake. – I'll give you $2 for
it, Robert, right now. – I know you would, that's
why I'm keeping it tight here. Here's my silver; the Lone
Ranger had the silver bullet, this is my silver bullet
from Dana Samuelson. Bite the bullet. (all laughing) So thank you, gentlemen.
Thanks for being teachers. And they have inventory. When things were really tough
I was scrambling because- – We were never without anything. – I'll tell you why I was panicking, if I waited a few more
days, the price would go up. And then when I ran in
there and then you guys, not you guys, but my other friend couldn't deliver me silver, I went.

And I said, "What am I going to do?" So I bought it that day
anyway for future delivery. So it was a gamble, so
basically a future delivery. – [Charles] Right. Yeah. – [Jim] it sounds like you did all right. – Yeah. Two last things: there's a thing called distribution and accumulation. Price of gold and silver is low, and silver and gold and
oil, I'm accumulating. I've been accumulating since '72. I own more gold than most people. Most of the gurus on TV. I own gold mines, silver mines because I believe in this stuff,
cause this is God's money. This is fake money. Thank you, gentlemen.
– [Jim] Thank you, sir. – [Charles] Thank you Robert.
– Pleasure to be here. – And when we come back, Sara
be back with a final word here.

So thank you, gentlemen. (upbeat music) Welcome back, Robert Kiyosaki,
"The Rich Dad Radio Show." Thanks to Jim Clark, the
Republic Monetary Exchange, RME, and Charles Goyette of
Republic Monetary Exchange. Because this is the hottest
subject of all today. It's silver and gold because this is fake. So Sara, if you have friends and
family who are still hoarding this stuff here, haven't
listened to this program and discuss it with them,
because I'm now called the Salad Bar Guru. (all laughing) I thought it was hysterical,
but it fried their brains. What's the difference
between this and this? One's fake, one's real. So Sara, what questions do you have? – [Sara] Yeah, well,
just wanted to mention, my brother for my niece,
she's 11, he said, "No more presents.

From now on we only want
you to get her silver." So every year, each sibling
gets her some silver coins. And I was like, "Man, he's so smart." Anyway, I just wanted to
point that straight out. But my questions to you
are, can you briefly discuss the different markings? What does that identify on the bars? – Okay, so this has the size of the bar, which is one kilogram.

Valcambi is one of the
worldwide known refiners of silver. It has their logo on it. It's been stamped with the serial number and the finest of 3.999 fine silver. The gold, a little different. It lists the number of ounces and this is four nines fine. Also with the serial number. And as you saw earlier, we
put the spectrometer to it to show that indeed, both of those are pure silver and pure gold. And if there's any doubt with anybody buying silver
and gold, is it real? We can put the spectrometer to it and show that it is exactly
what the purity should be.

– [Sara] Awesome. The second question I have
is, Robert had held up his buffalo and you called it
a generic one ounce coin. What's the diff? – So the US Treasury
and various governments around the world, Canada, South Africa, make a coin of the realm,
meaning an American Eagle for the United States. So the treasury makes that coin. The premium is significantly
higher for that than it is for this, but it's
exactly the same properties, same weight, same size and everything. – Wait a sec, so if
this was a Silver Eagle, but this is, I call this a buff, what's the price difference? – It's going to be $6, $7 and ounce more to have the name brand,
but silver's silver. So it depends if you, "Well,
I only buy a name brand, I won't buy Costco brand of
something, but I will buy the real ones that you hear
on television all the time," even though it's exactly the same thing.

So you get more silver for
fewer dollars if you buy it in the buffalos or what we call generic. But recognized as being
a coin of the realm and something that you can be
sure that it's the purity that it's supposed to be. So reputable private,
refineries make the buffalo, the US Treasury makes the
American Silver Eagle. – Why would somebody pay the difference? – Why do they? – No, I mean-
– [Sara] Why do they buy- – Money's is no object
and they don't mind paying $6 an ounce more, and it's
a US Treasury stamped coin. But you get more when you sell it too. – I bought considerable amounts from Dana in Austin, Texas, and he traded out my Gold
Eagles for regular gold. And I said, "Why?" He goes, "I don't know,"
but he says, "You just made a lot of money." So instead of having 10
ounces of gold, I now had 15 ounces of gold.

But just because one from
Eagles to something else. All I want is the ounce of gold. And as long as it's pure,
I don't really care. But some people do, right? – Yeah. And either one of those,
it's all recognized for them. So it's personal preference at that point. – [Sara] That was a big
question, cause Robert, if you remember back in
October, the team made a big silver buy, and
that was a big question, when we got the price sheet, we were like, "Why would we pay, if it's
the exact same thing," but that makes sense.

Just a name brand difference. – This is when we couldn't take delivery, we're buying a lot, so we
bought it from Andy Schectman. It was a lot of silver and gold we bought. – [Sara] The last question is, in the beginning of the
conversation we had talked about why you didn't want to
take cash, and you said it's a hassle. Is it also true because cash is devaluing so fast,
it's not really a fair trade. I mean, not fair, but
you know, even trade? Do you feel that way at all? – Well, it's cumbersome. And banks typically
don't want to take cash, and ironically, they don't
want to give cash out either. So we've had situations,
people wanted to go withdraw $100,000 in cash
at the bank, they'll say, "Come back in three or four
days and we'll accumulate it for you, but we don't have it here." I say don't even do that.

Just
wire the money over to us. It's just boom, boom, boom. Simple, we don't have to worry
about any counterfeit cash, although our machines pick it up anyway. It's a cumbersome thing
to do, but I look at the big picture; some point down the road, this cash is going to be worthless. And if the banks don't want
to take it in deposits, I don't want to be stuck
with $2 million or $3 million in cash and lose that. I would rather have money in the bank. Not money, but I mean fake
money in the bank that I can buy real silver and gold with
and have that on the shelf rather than cash sitting there
that is devaluing every day.

– [Sara] Yep. Good. Great. That was it. – Final word, Mr. Goyette. – Hey, thanks for having
us on again, Robert. – And this is your book here. Got to plug the book. – One of one of several. And it's about "Red and
Blue and Broke All Over" and how the country is broke all over and the exact story you've been
trying to explain to people for a very long time, and now here we are. – Another thing we do, Sara, is I send out a newsletter every week, my blog basically, that gives a synopsis of
what's going on the past week and maybe what we're seeing down the road. And just keeping clients and prospects informed of
how we see the market. And whether I'm smart or
not, it doesn't matter, I've been at this 50 years,
I've got a lot of experience and I can share a lot of information that I've acquired over the years.

And I encourage people to go
to our website RMEGold.com, and you can sign up for the newsletter. There's no charge, we email
it out every Sunday afternoon or Monday morning, whenever we
put the finishing touches on. And I would encourage
people to sign up for that at RMEGold.com – And that's why we
invited Charles and Jim, because they are educators like Rich Dad. I buy, I don't sell this stuff. (Robert chuckling) I do trade occasionally. But anyway, so thank
you very much, gentlemen and thank you all for
listening to "The Rich Dad Radio Show," and remember, this is fake and this is real. How much is this today? – That's about $5, so
you were really cheap when you were saying $2 or $3. – Oh my god! I was going to get taken. The salad bar ladies
were going to take me. (all laughing)
– [Sara] That's why he said, "I'll give you $3 for it." – They were trying to cheat
me at Safeway.

My god. – You're behind the times, Robert. You forgot how quick
this dollar is devaluing. – And they're raising
the price of the coleslaw on top of that. (all laughing) So thank you, gentlemen. – [Jim] Thank you.
– [Charles] Thank you. (upbeat music).

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HOW TO CONVERT A LIABILITY INTO AN ASSET – ROBERT KIYOSAKI, Rich Dad Poor Dad

(upbeat tempo) – So welcome back its Robert Kiyosaki with my dear friends' daughter here Alexa. And we're talking about
Millenials and money, and we gone through some lessons. I don't know how many more, but let's continue on
with another lesson here. And so we were talking about you know assets and liabilities, right? – Yes. And when you read Rich Dad Poor Dad I said your house is not an
asset what did you think? – Well, I think that's a conception that many people believe, but as you demonstrated the last seminar that we went to in Argentina. My mom had her properties and she converted them into assets. Correct. – I think it just depends
on what you do with it and it would be great if you could show us how to turn your house into an asset. It's very its really fundamentals. If I could go back I
probably covered it earlier, (marker rattling) but it's a crucial
question and this is what financial education and
financial literacy really is. Again it starts with the financial
statement and I would say probably 95 percent of all
college graduates don't know what a financial statement is.

You took an accounting course right? – Yeah, I did. I know you go through parts of this, but I say to young people like
you there's six basic words to financial literacy
and financial education. And the six words again are income, expense, asset, liability. See I don't really care
about my FICO score a fico score just basically registers are you trustworthy with borrowing money, but a bank will never sel. I borrow in the hundreds
of millions of dollars. (chuckling) A fico score not gonna get me there okay. It's so it's kind of a
ruse I mean I don't its, it's important but not for me. So these are the four
words income, expense, asset, liability.

Then the last two words
are the words cash flow. And that's, why the
game is called cash flow (marker squeaking) and the secret to being rich
is not a college education, but can you control cash flow. And this is what cash flow in looks like. So this here you need this income, expense, asset, liability. (marker squeaking) Again this is you get a job
and this is my poor dad, go to school, get a job, get your PHD. And so this here is cash
flow so income comes in and it goes out this way. First line of expense is tax, but this is a poor
persons cash flow pattern. It's not how much money
you make most people you know they. I don't care if you what you have a Ph.D. or no school at all. They can't control the cash flowing out through their expenses so that's, why people like Susie or men say cut up your credit cards,
live below your means cause you're a spend-a-holic. So that's a poor person. This is a middle-class
persons cash flow patterns and this is where the house comes in.

They, first thing you know most kids do when they get pay raise and all that they buy themselves a bigger house, now my house is an asset. Who tells you that? Your real estate agent of course! – Yeah. (Alexandra giggling) Right cause they they want to give you this false sense of security
while you're getting screwed. – Exactly. Ya know but when you look at
what happens with the house a personal. I mean a personal residence that I live in the money comes in it goes
out and this is middle class, but also goes out through a mortgage.

Mortgage payments, oh but
I don't have a mortgage. You still have taxes you still you know. Hawaii just raised the
property taxes on me. Which is probably why I'm gonna sell. I'm gonna get out of Hawaii, but you have taxes and you have upkeep so monies always flowing out. So that's why your house is
not an asset it's because its taking money from your pocket. So very simply said assets
put money in my pocket, liabilities take money from my pocket. And then this here is, so I'm not saying don't buy a house but here is a house that. And I started when I was
25 bought my first house it was an apartment with
an investment property. I didn't live in it, I rented it out and it put money in my pocket. So very simple the definition
of asset and liability is not the house or this, its cash flow. Where is the cash flowing? So as a young person (Robert coughing) and to all millennials or if you're old financial intelligence is the
ability to control cash flow. And that's what they
don't teach you at school.

They tell you to go to school, get a job. First thing is tax you know, you'll pay most of your money
will go out through taxes, in your lifetime. Then they tell you to buy a house, a car. Cars an asset, no cars a liability. You got insurance, gas,
upkeep, and all this. Now if you buy a, a taxi
car it could be an asset, its cash flow. And that's very simply it, so this is a poor person. Money goes out there's a lot we, we just interviewed some
national football league players who make millions of dollars in their 20s.

And most of them are broke in two years because they can't control cash flow. Intelligence IQ is can
you control cash flow not your college degree. College degrees are important, but they're not gonna teach you this. So the cash flow game, trains you over and over and over again to get your money in here to
get the cash flow this way. So I started with this,
cost me 18,000 dollars. I paid for the credit card and
I put 25 dollars in my pocket okay. It's an infinite return
because the cash flow paid for the mortgage, it paid the
expenses, pays the operating costs and I still made 25 dollars. Kim's first year was the same, hers wasn't 18,000 it was 50,000, 45,000 and it
put 25 dollars in her pocket, but Kim now owns 6,500 rental properties. And she pays no tax because
the income comes from here. – Mm-hmm If you have a job you pay tax, but income the rich get richer because when you have asset income taxes are less. You can get it down to zero if you want.

But that's financial intelligence, but can you control cash flow. Okay, so say that again. Assets what? – Assets put money into your pocket, liabilities take money out of your pocket. And so as a young person
you just focus on that so when you buying a new house, you're gonna say is this
gonna take money or put money? You buy an apartment house
is it gonna take money or put money that's it, its cash flow.

Six most important words for
financial intelligence and IQ is income, expense, asset, liability, but its really cash flow. Now if I could bring up a
more horrible subject is, do you think people can
be assets or liabilities? – I think they could
be both, to be honest. So for most young people
they fall in love, they get married, they have kids. Is a child an asset or liability? – A child is definitely a liability.

I'm not saying don't have kids, but you gotta think the kid is expensive and they don't get cheaper. They get more expensive every year, you know then they go to college and then it gets even more expensive. So a human being now this
sounds horrible to all those socialists and communists out there, but the fact is kids cost money. But as an old guy, I want
you to think about this as I get older as people get older family members become liabilities.

So I have a friend whose
mother thank god she had long term I don't know what they call it, but they just canceled it on her. She can go to a old age home and I think the price is 18,000 a month. Most so that as a young person
as your parents get older the question is can I afford
to spend 20,000 dollars a month on my mom or my dads' long
term healthcare, yes or no? – No, not right now. No so. – No. And this is gonna happen to my generation many people don't realize, but there brothers or
sisters or sisters kids and all this become liabilities to them. So as a person whose fairly well off, I'm and Kim and my
friends are thinking about two legged liabilities.

So I know today that if
my sisters become ill I'm the one with the money
and it's my responsibility to pay for them. Same as my brothers and their kids. So these are things that people
don't think about a lot of times is what happens
not only as they grow up, but what happens as they age. Statistics show the average
person in my generation lets say have a million dollars. 80 percent of that million dollars will be gone the last two years of life. Because medical expenses go
through the roof and today insurance companies are canceling. I forgot the name of it, but my friends' mother
it was just canceled. So he doesn't have 18,000 a month so he had to bring his
mother into his house and you know create
another room and all this. Well, I love her which he
does but shes a big liability and all he had was savings. So the savings are being depleted
going out this way, okay? So with your question
about houses and people, but people are also
assets and liabilities. For most people with our favorite subject, a 401K is it asset or liability? – From what I've learned from you its definitely a liability.

Or an IRA or a pension cause
it's always going out this way. There's no guarantee it'll be there. So this is the basic of
financial intelligence, financial literacy stuff like this. Another thing about people
is you have a bad advisor, like a bad financial planner, or a crook, or a business partner that's a crook, a wife that's a crook and all of that. They can be human liabilities. I have two friends right
now who just joined a million-dollar club. They married beautiful women, got divorced and the women is now costing
a million dollars a year in alimony. So their beautiful wife and the
child support it's a million dollars going and she's only 40 years old.

So she has a whole pile of boyfriends, but it's costing him a
million dollars a year for her boyfriends. I said I wanna be her boyfriend. (both laughing) not really you know. That make sense to you? – Yeah, it makes sense. Financial IQ is can you control cash flow. IQ means how big a problem can you solve so if like my friend whose
mother is now costing him 18,000 dollars a month. Well, thank
God he has about 100,000 in savings but in one year its gone. – Yeah. That's not high IQ, but for myself 18,000 dollars a month I ain't gonna make that much
cash flow pretty easily. – yeah. okay. So when you're like in your 20s per, well how am I going to make.

Let's say by the time
probably a 100,000 a month to take care of my parents, because like it or not its cash flow and they become liabilities. And the problem is getting worse
or because the bond markets are not providing income. So many insurance companies
have to renege on their promises to provide the cash flow to
take care of our loved ones the same as medical. – Wow. And so that's why when people
say I'm gonna go out on my own and do all these things they're
kinda doing what they love. Which is good, but they've
really gotta think about how many liabilities do they have. It's not just your rent you know, it's your family and so for me (marker tapping) and for Kim. We have family members, but they're liabilities so
that's why we stay over here. Hopefully, nothing will go wrong, but if one of my sisters got ill and she needs 100,000 a month
at least can provide it. – Yeah. otherwise she they go they go indigent whatever they call it kay. – Yeah. Any other comments or questions? – No thank you for sharing so much about this content and all this information.

That's gonna be super
valuable for all my friends and all the Millenials
out there just like me. So I have two friends that
are in the million-dollar a year club, it doesn't mean
they're making a million dollars it's their wives
are taking a million dollars a year out of their pockets
and their kids and all this. And I go you should of thought
about that 20 years ago. – Yeah. But you don't cause your in
love and you're gonna have kids and gonna make it together. – mm-hmm. But your parents offer great role models. So once again the six
words you have to know and be masters at income, expense, asset, liability, cash flow. You can control cash flow
that's financial intelligence, financial IQ and financial literacy, okay? – Okay.

Thank you..

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