Rich Dad Poor Dad by Robert T. Kiyosaki

In this insightful episode of *Mind Set in Stone Podcasts,* Dave and Poppy dive into the financial wisdom of *Rich Dad Poor Dad* by Robert T. Kiyosaki, a groundbreaking book that challenges traditional views on money and wealth. They discuss Kiyosaki's core lessons on financial literacy, the differences between assets and liabilities, and the mindset shifts needed to build financial independence. Whether you're looking to start your wealth-building journey or simply want to improve your understanding of money, this episode offers practical insights to set you on the right path. Join us for a thought-provoking conversation that could change the way you think about wealth!

Thank you for tuning in to this episode of Mind Set in Stone Podcasts. If you enjoyed our deep dive, be sure to subscribe and leave us a review! Share your thoughts with us on social media, and let us know which book you’d like us to explore next. Until next time, keep your mind set in stone and your curiosity open.

This has been a Big L Riz Media Podcast—where big ideas meet lasting impressions.

Transcript

Welcome to Mind Set in Stone Podcasts, where we dive deep into the most compelling books on the shelf. Join hosts Dave and Poppy as they uncover the stories, themes, and ideas that shape our understanding and inspire curiosity. Get ready to explore the big ideas that leave a lasting impact.

Let's get started.

All right. So, you're looking for a deep dive into Robert Kiyosaki's financial wisdom.

Specifically, how it applies to you.

Exactly. We're going back into excerpts from Rich Dad Poor Dad.

And even a snippet from one of his recent YouTube interviews.

Think of it as unlocking those Rich Dad secrets.

And seeing if they hold up in today's world.

Ready?

Let's do it Kiyosaki's work.

Especially Rich Dad Poor Dad.

Has been a financial mainstay for years.

Yeah.

But it's interesting to see how it resonates.

Or maybe even clashes. Yeah.

With what you're dealing with right now.

Exactly. One of the first things that jumped out at me was Kiyosaki saying, your old advice, of go to school, get good grades, get a good job. Yeah.

It's practically risky now.

Is that really true? Well, I mean, think about what you shared about the job market.

Yeah.

Feeling like security shaky, right? Kiyosaki argues that what used to be the path to success is almost setting people up to struggle.

Especially.

Especially with how taxes hit the middle class. College costs are through the roof. And even retirement plans aren't as reliable as they used to be.

Okay. So that's where that whole Rich Dad vs Poor Dad story comes in, right? I remember that being a big part of the book.

It's more than just a story, though.

Oh, really?

It's the foundation of Kiyosaki's whole philosophy.

Okay.

Remember, he grew up with two father figures. His biological dad, the poor dad, had a good career, but always struggled with money.

Okay.

Then there's his friend's father, the rich dad, who built his own successful business.

And little nine-year-old Robert is soaking up all this rich dad wisdom. I remember that story about him being told to work for free, to learn about business. That's got to be a mind shift for a kid.

Absolutely. But that's Kiyosaki's point. The way we're taught to think about work and money, isn't how the wealthy actually operate.

So, it's almost like he's saying we're all kind of brainwashed.

In a way, yes. This leads into one of his most famous lessons, the rich don't work for money. It's not about avoiding work all together.

It's about building assets that generate income, whether you're clocking in or on vacation.

Okay. So, less trading time for money, more building something that makes money for you.

Exactly. And for you aiming for listeners' goal, this is key why.

So, a regular job might be part of it?

A regular job might be part of it. But Kiyosaki would ask, what's your business?

What's the asset?

What's the asset that will keep generating even when you're not actively working on it?

That's a great way to put it. And that seems to be the foundation of his six main lessons, like a roadmap to changing how you think about money altogether.

Precisely. And these aren't just random tips.

Okay.

They connect directly to your situation. Like lesson one, the rich don't work for money. It's not that they sit around doing nothing.

It's that they build systems, businesses, investments that generate income, even when they're not directly involved.

So, it's about working smarter, not just harder.

Exactly. And this applies to you as well.

Okay.

Imagine if you could specific example related to listener's goal without needing to constantly trade your time for it. That's the kind of freedom Kiyosaki is talking about.

That's starting to click for me.

Good.

But now let's get into something a bit more controversial. Kiyosaki saying, your house isn't an asset.

Ooh.

I can already hear people disagreeing.

It's definitely one of his most debated points.

Right.

Most people see their house as their biggest asset.

Absolutely.

But Kiyosaki throws a wrench in that he's not saying a house can't be valuable.

Oh, okay.

It's about the liability most people take on to own it.

That mortgage you're paying off?

Exactly. That mortgage you're paying off, that's money going out, not coming in.

So, it's not about the house itself, but how you're financing it.

Exactly. Now, Kiyosaki does say a house can become an asset if it's generating income.

Like if you rent it out.

Like if you rent out a portion or flip houses for profit.

Okay.

But the traditional own your home dream. That's often what keeps people trapped in the rat race according to him. It's fascinating how he challenges what we consider to be financially smart.

It really makes you rethink those assumptions. Which brings us to that whole asset versus liabilities thing. I'm guessing that's at the heart of his thinking.

Absolutely. Kiyosaki's laser focused on building wealth through assets.

And that means?

An asset to him is something that puts money in your pocket. A liability is something that takes it out.

Give me some examples.

Your car, your fancy clothes. Those are liability stocks that pay dividends.

Okay.

A business that generates profit. Those are assets.

This ties into the cash flow quadrant, right?

Yes.

I remember that being a big part of Rich Dad Poor Dad. Can you break that down for us?

It's Kiyosaki's way of categorizing how people earn income. He's got the E quadrant for employees. Okay.

The S for self-employed or small business owners, B for big business owners, and I for investors.

Where do you think I fit in right now?

Where do you think you fit in right now?

Well, I'm definitely an E even though I like to think I'm pretty entrepreneurial.

Right. And where do you want to be?

That's the question, isn't it?

That's what the quadrant challenges you to consider. It's not about your job title, but the system you're in. Are you trading time for money?

Or are you building something that generates income regardless of your direct labour?

That's a good question to think about.

It is. And that's where things get interesting because Kiyosaki argues that the E and S quadrants are where most people get stuck.

Because they're trading their time for money.

They're trading their time for money often with limited control over their income.

Or their future.

Or their future, exactly.

So how do you make that leap to the B and I side?

That's the big question, right?

That's where the real financial freedom is, right?

Exactly. It's about shifting from working in your business.

To working on it.

To working on your business, exactly. Kiyosaki talks about building systems and assets that generate income without requiring your constant attention.

Okay. I'm starting to see how all these pieces fit together, but let's talk about something Kiyosaki is pretty vocal about.

Okay.

Taxes. He seems to think the system is rigged against the middle class. Is that a bit extreme?

Well, it's definitely a hot-button topic. Kiyosaki argues that the rich use corporations to their advantage when it comes to taxes. While the middle class often ends up shouldering a heavier burden, and what's interesting here is the historical context.

Oh, really?

Did you know that income tax as we know it today wasn't always applied to everyone?

I did not know that.

Initially, income tax was primarily levied against the wealthiest individuals.

Oh, wow.

The idea of tax the rich gained traction as a way to redistribute wealth. But over time, the tax system evolved and the burden spread to include the middle class. Kiyosaki's point is that the tax the rich mentality can backfire impacting those who supported it in the first place.

Okay. Essentially, he's saying you got to be careful what you wish for.

You could say that, so how do corporations play into all of this?

Right, because he doesn't seem to think they're evil or anything.

He emphasizes that corporations aren't evil, they're simply a legal structure, a tool. The wealthy understand how to use this tool to legally reduce their tax burden.

He's not saying break the law, he's saying.

It's not about evading taxes, it's about playing by the rules of the game.

Rules that most people don't even know.

Rules that unfortunately most people aren't even aware of.

It's about financial literacy, about understanding the system and how to navigate it effectively.

Exactly. Kiyosaki believes that knowledge is power, especially when it comes to finances.

I can get behind that, but I've got to be honest, it can feel a bit overwhelming.

Oh yeah.

You know, there's so much to learn and do, and it's easy to get discouraged, especially when you're just starting out.

I think we've all felt that way.

Yeah, that's where Mind Set comes in, right?

Absolutely. Kiyosaki talks a lot about the mental game of wealth building.

Oh yeah.

You mentioned feeling listeners fear or obstacle.

Yes.

And he addresses that head on.

Okay.

He says, if you're going to go broke, go big. He's talking about overcoming the fear of failure, the fear that holds so many people back from taking action.

I like that. Go big or go home.

He even quotes Fran Tarkenton, the football coach. Winning means being unafraid to lose. It's almost like he's saying you have to be willing to lose to truly win.

Yeah, you have to embrace the possibility of failure.

Exactly. Kiyosaki believes that those who play it too safe, who are too afraid to fail, often miss out on the biggest opportunities.

That makes sense. How does Kiyosaki suggest people actually start awakening their financial genius? I know he outlines some specific steps in the book.

Where do you even begin?

Okay. Well, he's got a few key principles. First, you got to find your why, that deep burning reason for wanting to achieve financial freedom.

What's driving you? What are you working towards?

What are you working towards exactly? Without that clear vision, it's easy to get lost or lose motivation.

Right. It's like you need that North Star.

Exactly.

Yeah.

Kiyosaki also emphasizes the power of choice. Every single day, you're making decisions that either move you closer to financial freedom or keep you stuck in the rat race.

It's about taking responsibility for your financial future.

Yes. And making conscious choices that align with your goals.

Okay. So, it's not just about hoping for the best, it's about actually making it happen.

You got it.

Now, he also talks about the importance of continuous learning. The financial world is constantly changing, so you can't just rely on what you learned in school or even what you knew five years ago.

Times are changing fast.

Kiyosaki is always reading, attending seminars, talking to experts. He's a lifelong learner.

He is, and he encourages everyone to adopt that same mentality.

That makes sense. But for someone just starting out, where should they even begin? There's so much information out there.

Kiyosaki recommends finding mentors, people who have already achieved the kind of financial success you aspire to learn from their experiences, their mistakes, their successes. He also talks about mastering a financial formula, whether it's real estate stocks or starting a business.

Okay.

Get really good at one thing, then move on to the next.

Ah, that's where his principle of master formula, then learn a new one comes in. You mentioned you wanted to connect that to the listener's interests in listener's interests or field.

Exactly. It's not just about finance. This principle applies to any area of life.

Oh, okay.

Think about it this way. You're passionate about listener's interests or field, right? You could start by mastering a specific skill or technique, maybe specific example related to listener's interests.

Okay.

Once you've got a solid foundation there, you can branch out and explore a related but different area, like another example related to listener's interests.

It's like building a skill tree and mastering one level unlocks the next.

Right. It's about constantly challenging yourself, expanding your knowledge and your capabilities. That's how you become truly successful in finance or any other pursuit.

Okay. I love how that ties together. Now, let's dive into something Kiyosaki really emphasizes investing.

He seems to have a unique approach to finding opportunities.

It doesn't heal. One of his key principles is looking for something for free in every investment.

Something for free.

Now, he's not talking about getting something for nothing. It's about seeing beyond the obvious. Finding those hidden gems that other investors might miss.

Can you give us an example of what he means by something for free?

He tells a story about buying a convent for $50,000 later. An identical unit next door sells for $100,000.

Okay. So, he basically doubled his money?

His point, the profit was made when he bought, not when he sold. He saw an undervalued asset and recognized the potential for appreciation.

So, it's not just about buying and selling. It's about?

It's about recognizing value where others might not see it.

Exactly. And it's not just about real estate. Kiyosaki encourages investors to think creatively, to look for opportunities that offer more than just a financial return.

It might be a business with untapped potential, a stock that's temporarily undervalued, or even a skill you can learn that will pay off in the long run.

So, it's about having that entrepreneurial mindset, always looking for ways to create value and build wealth.

Absolutely. And that brings us to another crucial point, overcoming cynicism.

Oh, yeah. It's easy to be cynical these days.

It's easy to get bogged down in negativity, especially when you're surrounded by people who doubt your ambitions. Kiyosaki talks about the importance of staying positive, of believing in yourself and your ability to achieve your financial goals.

He's got that quote, doesn't he? Something like...

Your mind is either your biggest asset or your biggest liability.

Yeah, that's the win.

He encourages people to cultivate a mindset of abundance, to believe in their ability to achieve financial success.

Okay, so how do you actually do that? How do you shift your mindset from scarcity to abundance?

Well, it starts with awareness. Recognizing those negative thoughts and beliefs that are holding you back.

Okay.

Once you've identified them, you can start to challenge them, replace them with more positive and empowering thoughts.

So, it's like rewiring your brain.

In a way, yes. It's about consciously choosing to focus on the possibilities, rather than dwelling on the negative. I like that.

So, it's not just about positive thinking, it's about actually changing your beliefs.

Right. It's about creating a mental environment that supports your financial goals.

This all makes sense in theory, but how do you actually put it into practice?

Action. That's Kiyosaki's big thing he's all about doing rather than just thinking. He says, don't wait to buy real estate and wait.

He's got a way with words.

He's a great storyteller. It's about being proactive, taking those first steps even if they're small.

Even if they're scary.

Especially if they're scary.

It's about overcoming procrastination and fear and building momentum.

Exactly. And he believes that as you take action, you'll gain confidence, you'll learn from your mistakes, and you'll start attracting more opportunities.

So, it's a self-perpetuating cycle.

It is. Action leads to confidence, which leads to more action, which leads to more success.

I like that. It's like that snowball effect.

Exactly. And it's not just about taking random action. It's about having a clear vision, a plan, and then taking consistent steps towards your goals.

Okay. So, it's like you need that roadmap.

You do. You need to know where you're going and how you're going to get there.

Now let's circle back to one of Kiyosaki's most controversial pieces of advice. Pay yourself first. Yes.

The one that raises eyebrows.

I know a lot of people struggle with this concept, especially when they're feeling financially stretched.

It definitely requires a mindset shift. But Kiyosaki's argument is that by prioritizing your own financial well-being, even if it's just a small amount, at first, you're sending a powerful message to yourself.

Okay. What kind of message?

You're saying my financial future matters.

Even if I'm barely making ends meet, I should still set aside something for savings or investments.

That's the idea. It's about forming the habit, the discipline of consistently putting money aside for your future self. Kiyosaki uses a great analogy.

He asks, who do you think will complain louder if you don't pay them your creditors or you?

Well, I guess the creditors are going to come knocking.

We're much more likely to pay our bills on time than we are to invest in ourselves.

So, it's almost like we're more afraid of our creditors than we are of our own financial future.

That's a good way to put it. Paying yourself first is about flipping that script.

It's like putting on your own oxygen mask first before helping others.

Exactly. It's not about being selfish. It's about taking care of your financial well-being.

So, you can ultimately be in a better position to help others.

Okay, I'm getting it. Now, Kiyosaki also talks a lot about building a strong team, finding good brokers, advisors, mentors. Why is that so important?

He believes that you don't have to and shouldn't do it all alone. Right. Finding the right professionals, real estate agents, financial planners, lawyers can make a huge difference in your journey.

But he also cautions against blindly following their advice, right?

Absolutely. He stresses that you are ultimately responsible for your own financial decisions. Do your own research, understand the risks and ask questions.

Don't just hand over your money and hope for the best.

So, it's about finding advisors you trust, but also developing your own financial intelligence.

Precisely. It's a partnership. You're the CEO of your financial life and your advisors are there to support you, not dictate your every move.

I like that being the CEO of your own life. Now, Kiyosaki's got some pretty strong opinions on traditional education and he's often seen as being anti-college. Is that really the case?

It's more nuanced than that. He doesn't say don't go to college, but he argues that it's not enough to guarantee financial success in today's world.

So, what's missing in his view?

Financial literacy.

Oh, okay.

He believes that schools should be teaching kids about money, about investing, about building businesses. These are essential life skills that are often overlooked.

So, it's not about choosing between college or financial education. It's about recognizing that both are important.

Right. You need that well-rounded foundation.

And if schools aren't providing it.

And if traditional schools aren't providing it, Kiyosaki encourages people to seek it out elsewhere, through books, seminars, mentors, even online resources.

That makes sense. Okay. Now, one thing that keeps coming up is Kiyosaki's emphasis on Mind Set.

He really believes our thoughts and beliefs can either propel us forward or hold us back.

He says, we've all got these internal voices, some positive, some negative. And the ones we choose to listen to will shape our reality.

He's got that great quote, your mind is either your biggest asset or your biggest liability, powerful stuff.

He encourages people to cultivate a mindset of abundance, to believe in their ability to achieve financial success.

And that ties into his focus on taking action.

Yes. He's all about doing rather than just thinking.

Do you remember any specific examples of that from the book?

He says, don't wait to buy real estate and wait.

He's got a way with words.

He does. He makes it memorable. It's about being proactive, taking those first steps even if they're small.

So, it's about overcoming procrastination and fear and building momentum.

Exactly. And he believes that as you take action, you'll gain confidence, you'll learn from your mistakes, and you'll start attracting more opportunities.

So, it's a self-perpetuating cycle. Action leads to confidence, which leads to more action, which leads to more success.

Right. It's like that snowball effect. The more you do, the more you're capable of doing.

Now, I know we touched on this earlier, but I want to dig a little deeper into Kiyosaki's idea of paying yourself first.

It's a concept that can be hard to grasp, especially if you're on a tight budget.

It does sound almost irresponsible.

It can seem counterintuitive, but Kiyosaki's point is that by prioritizing your own financial well-being, even if it's just a small amount, at first, you're making a powerful statement to yourself and to the universe.

You're basically saying my financial future matters.

Exactly. Even if I'm barely scraping by, I should still try to set aside something for savings or investments.

That's the idea. And it's about making a commitment to your future self, even if it's just a few dollars a week.

And it can be tough, but it's about shifting your mindset from scarcity to abundance.

So how do you actually do that when you're already struggling to pay the bills?

Kiyosaki suggests looking for ways to cut expenses, even small ones.

Like cutting back on lattes.

Can you pack your lunch instead of eating out? Can you find a cheaper cell phone plan? Can you negotiate a lower interest rate on your credit card?

Okay, so it's about finding those little pockets of savings.

And redirecting them towards your financial goals. And it's amazing how those small amounts can add up over time.

All right, so we've talked about mindset. We've talked about paying yourself first. Now, I know Kiyosaki is a big advocate for finding good brokers and advisors.

He stresses the importance of building a strong team, right?

Absolutely. He believes that finding the right professionals, whether it's a real estate broker, a financial planner, or a tax accountant, can make a huge difference in your financial success.

Okay, so it's not about trying to do everything yourself.

It's about recognizing your strengths and weaknesses and seeking out expertise where you need it.

But he also warns against blindly following their advice, right?

Yes. He emphasizes that ultimately you are responsible for your own financial decisions. You need to do your own research, educate yourself and be an active participant in the process.

So, it's about finding advisors you trust, but also developing your own financial intelligence.

Exactly. It's a partnership. You're the CEO of your financial life, and your advisors are there to support you, not dictate your every move.

I like that being the CEO of your own life, it puts you in the driver's seat.

Exactly. You're in control. The idea of tax the rich, gain traction as a way to redistribute wealth, but over time, the tax system evolved, and the burden spread to include the middle class.

Kiyosaki's point is that the tax the rich mentality can backfire impacting those who supported it in the first place.

Wow. So, it's like a cautionary tale about unintended consequences.

You could say that.

So where do corporations fit into all of this?

Kiyosaki argues that the wealthy understand how to use corporations to legally reduce their tax burden.

He's not saying do anything illegal though, right?

No. He emphasizes that a corporation isn't some evil entity. It's simply a legal structure, a tool, and the wealthy know how to use it effectively.

It sounds like he's advocating for financial literacy.

Absurd.

Standing the rules of the game.

Yes. And how to use them to your advantage.

Not about evading taxes but being smart about it.

Exactly. It's about understanding the system and utilizing legal strategies to protect your wealth.

Okay. So, knowledge is power.

Especially when it comes to finances.

All right. Let's shift gears a bit and talk about something else. Kiyosaki emphasizes Mind Set.

You mentioned feeling listeners fear or obstacle, and he seems to say that playing it too safe can actually hold you back.

He uses the analogy of the rat race to describe that cycle of working hard paying bills but never getting ahead. Right.

The hamster wheel.

Exactly. And he argues that those who are too afraid to fail often miss out on the biggest opportunities.

Because they never take any risks.

Right. He even quotes Fran Tarkent in the football quarterback saying, winning means being unafraid to lose. It's about having the courage to take calculated risks.

And understanding that failure is often a stepping stone to success.

Exactly.

I love that quote. It's a good reminder that you can't let fear paralyze you.

You can't let it stop you from going after what you want.

But knowing that and actually doing it are two different things. How does Kiyosaki suggest people start awakening their financial genius? Where do you even begin?

He says it starts with your why.

Your why?

The deep-burning reason for wanting to achieve financial freedom.

Oh, okay. So, what's driving you? What are you working toward?

Exactly. Without that clear vision, it's easy to get lost or lose motivation. He also emphasizes the power of choice.

Every day, you're making decisions that either move you closer to your goals or keep you stuck.

It's like every day is a new opportunity to make a different choice.

Exactly. And those choices, those small actions we take consistently, can have a huge impact over time.

That's powerful. Another thing Kiyosaki stresses is continuous learning.

Yes. The financial world is always changing, so you can't just rely on what you learned in school or even a few years ago.

Times are changing fast.

He's always reading, attending seminars, talking to experts. He's a lifelong learner.

And he encourages everyone to adopt that same mentality.

Yes, to stay curious and keep learning.

That makes sense. But for someone just starting out, where should they even begin?

Kiyosaki suggests finding mentors.

Mentors.

People who've already achieved the kind of success you're aiming for. Learn from their experiences, their mistakes and their successes. He also talks about mastering a financial formula.

Okay.

Whether it's real estate stocks or starting a business, get really good at one thing, then move on to the next.

This ties back to his idea of master a formula, then learn a new one.

Exactly.

And we were talking about how that applies to the listener's interest and listener's interests or field.

Exactly. It's not just about finances, it's a principle for life.

Okay.

Think about it. You're passionate about listener's interests or field, right?

Yeah.

You could start by mastering a specific skill, maybe specific example related to listener's interests. Once you've got a solid foundation, you can branch out and explore a related but different area, like another example related to listener's interests.

So, you're constantly levelling up your skills.

Exactly. It's about challenging yourself, expanding your knowledge and capabilities. That's how you achieve true success, whether it's in finance or any other pursuit.

I love how Kiyosaki weaves these principles together. It's not just about money, it's about developing a mindset for success in all areas of life.

It's about taking control of your life and creating the future you want.

Speaking of success, let's talk about investing. He seems to have a knack for finding those hidden opportunities.

One of his key principles is looking for something for free in every investment.

Something for free? What does that even mean?

He's not talking about getting something for nothing. It's about seeing beyond the obvious, looking for those hidden gems that other investors might miss.

Can you give us an example? Sure.

He shares a story about buying a condo for $50,000 later. An identical unit next door sells for $100,000.

Okay. So, he doubled his money.

His point, the profit was made when he bought, not when he sold. He saw an undervalued asset and recognized its potential for appreciation. The something for free in this case was the potential for that property to increase in value.

Ah, so it's about having a keen eye for value.

Exactly. Seeing those opportunities that others might overlook.

And that entrepreneurial mindset doesn't just apply to real estate, does it?

No. It's about looking for those hidden gems in any investment.

It could be a business or?

It could be a business with untapped potential. A skill you can learn that will increase your earning power, or even an overlooked stock that's poised for growth.

So, it's about being resourceful, thinking creatively, and finding those unique angles that give you an edge.

Absolutely. And that brings us to another important point, overcoming cynicism. It's easy to get bogged down by negativity, especially when you're surrounded by people who doubt your ambitions.

Kiyosaki stresses the importance of staying positive and believing in yourself.

Remember that story about his friend who was skeptical about real estate, saying, I don't want to fix toilet.

It's a classic example of how limiting beliefs can hold us back. Right.

Like focusing on the negatives instead of the possibilities.

Exactly. Kiyosaki's response was basically, why would you assume I want to fix toilets? He highlights how often we get stuck on the perceived downsides of an opportunity instead of seeing the bigger picture.

So, it's about finding solutions, building systems, leveraging your strength.

Exactly. If you don't want to fix toilets, you hire a plumber.

You find a way to make it work.

It's about focusing on the possibilities, not the problems. Don't let cynicism and fear keep you from pursuing your financial dreams.

All right. So, we've covered a lot of ground here. We've explored Kiyosaki's key principles from the Rich Dad philosophy to assets versus liabilities, the cash flow quadrant taxes Mind Set, and so much more.

But before we wrap up, I want to touch on one last piece of advice that often sparks debate. Pay yourself first.

Ah, yes. That one can be tough to swallow, especially if you're feeling financially stretched.

It does kind of sound irresponsible.

But Kiyosaki's argument is that by prioritizing your own financial well-being, even if it's a small amount, at first, you're making a statement to yourself and to the universe.

So even if I'm barely scraping by, I should still set aside something for savings or investments.

That's the idea. It's about creating that habit, that discipline of consistently putting money aside for your future self.

But it's hard to prioritize yourself when you have so many other financial obligations.

Yes. Who do you think will complain louder if you don't pay them your creditors or you?

Well, I guess the creditors are going to come knocking.

We're wired to pay our bills, but we often neglect our own financial well-being.

It's almost like we're more afraid of our creditors than we are of our own financial future.

It's about flipping that script, putting on your own oxygen mask first before assisting others.

It's not selfish. It's about taking care of yourself so you can ultimately help others down the road.

Exactly.

Okay. So, listener's name, we've taken a deep dive into Robert Kiyosaki's financial wisdom.

We've explored his core principles, challenged some conventional thinking, and hopefully given you some food for thought.

What's resonating most with you from all this, is there a Rich Dad principle you're ready to put into action? And remember, we focused a lot on financial strategy, but Kiyosaki also talks about passing on this knowledge to your children.

It's about breaking the cycle of financial struggle. And empowering the next generation to create a brighter financial future. How do you see that playing out in your own life?

That's something to ponder as you continue your own financial journey.

We hope you're leaving with fresh insights and a spark of inspiration. Remember to subscribe, leave a review, and check back for more episodes as we dive into new worlds of thought, one book at a time. Until then, keep your mind set in stone and your curiosity open.

This has been a Big L Riz Media Podcast, where big ideas meet lasting impressions.