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This is the Rich Dad radio show the good News and bad news about money here's Robert Kiyosaki Hello hello Robert Kiyosaki the Mr read This show that news and bad news about This coronavirus economy And we broadcast some gorgeous old towns Scottsdale Arizona where it's either Heaven or hell right now it's heaven but There's nobody here and there's nobody Here and then uh so we have a very Special guest today he's a friend of the Rich Dad family he's really been Supportive of our message and our work And is David Scranton he's the CEO and Founder of sound income strategies and His The star of a nationally broadcast Financial use program on news Mac TV It's called the income generation So uh David it's nice to be interviewing You instead of you interviewing me well And thank you for calling me a star Nice for a change Well we're all we're all legends in our Own mind you know how that goes that's Right exactly and you're all and you're Also the author of the book The income Story store Dash e what is store Dash The retirement income store yeah a Little play on words because the Franchise that we set up which we Currently have over uh two dozen Financial advisors that are franchisees

Around the country that are participants In a retirement income Store franchise So we did store Dash e because uh little Little plan words and I guess I I like To make it harder on myself when I'm Trying to sell books because now people Have to Google and type in funky or Things so maybe it wasn't as smart for a Business perspective so could you give Us a little bit your background and but Most importantly why you're out income Store e yeah well you know my background Is started like most financial advisors I started in the 80s and through the 80s And 90s I was a stock market guy like Virtually everyone else was back then Right the one thing though that I was Very fortunate to have figured out was I Sat there in 1998 1999 I looked at Priced earnings ratios going to Infinity Across the stock market especially with The technology stocks right and I said You know what this can't be P ratios and Affinity don't make any sense this is Going to crash and it's going to take a While before it gets better so what I Did is I changed my whole business model Around in 1999 to specialize in income Producing Investments and that's where We've stayed really for the last 20 Years that's the name of the show the Income generation Congratulations thank you tell us all About newsbacks TV and what what you do

With them well the show is really just To inform people that are members of the Income generation which are over the age Of 50. uh we kind of created the term The income generation basically it's the Baby Boomers Um people who if they haven't already They should be making the shift from Growth to income with their Investments You know I find that all too often People don't make the shift from growth Growth to income until they're within a Year of retirement or they're actually Retired and in some cases they never Make that transition so our goal is to Get them to make the transition a more Timely fashion and frankly times like This you know what's going on in the Stock market just really over the last Two months really gives us a good Example of why uh people need to make That transition because right now if you Have folks that are planning to retire In the next two three years their life Kind of sort of just got turned upside Down and they're probably questioning Whether or not they really can right Again Davis craft you know I I he's Interviewed me on Newsmax TV and he Supports what we do at Rich Dad here and It was the last time I was on your Program was about who stole my pension And what I'm that's right and what I've Been saying is that once this Corona

Stuff kind of dies down the next big Headline is who stole our pensions And do you share the same concern I do have the same concern and frankly Uh I had the concern a little bit and After reading your book I had the Concern even more thank you very much For giving me one more reason to stay Awake at night but uh but but but it's All the more reason I believe that when People invest with their own dollars Whether it's in a 401k or whether it's Elsewhere making that transition from Growth to income as I call from the G to The eye needs to be done in a timely Fashion because you may think gosh all This money I have over here was gravy I Don't really need it I have a pension I Have social security I'm looking good But you know the Social Security Administration right now is underfunded And if they don't make any changes Within about 15 years benefits are going To have to be reduced by 20 to 25 and With fear about pensions at this point I Think Americans have to realize that They really can't count on anybody but Themselves at the end of the day they've Got to take matters in their own hands When it comes to their own Financial Security especially during retirement Right so I'm glad to have you on the Program because I want to know what From your position what's what's

Happened after this post-corana crash And all that stuff what do you see Happening and especially when it comes To pensions and retirements and Especially baby boomer retirements What's what's happening well what's Happened uh so far is Wall Street has Given us an enormous gift Because you know when you look at Unemployment uh I compare it to this is What I call Black Swan event it's an Event that couldn't be predicted it's a Tipping Point in the markets that has Humanitarian factors all kinds of social Elements as well as economic factors And when these kinds of things happen They're really hard to predict what's Going to happen so I find the best thing We can do is compare it to what happened Here in the Great Recession around 2008 I.E the financial crisis and also to Compare it to what happened during the Great Depression so if you look at those Two things let's look at unemployment First okay unemployment during the Great Recession got to about 10 percent at the Trough that was 2008. during the Great Depression unemployment got to 25 right Now unemployment is about 20 and every Thursday when a new report comes out it Gets higher and higher a lot of people Are expecting it to match or exceed the 25 Peak unemployment rate we saw during The Depression David let me just ask

When you're saying 20 is that 20 because Of the coronavirus before the Coronavirus after Total we were at three and a half Percent unemployment we've added another 17 or so with those 30 million jobs that Have been lost over the last six or Seven weeks And of course every Thursday that number Goes up So right now our total unemployment is Somewhere over 20 we don't get an actual Number published yet But by looking at the 30 million lost Jobs you can pretty much interpolate That slightly over 20 so my question is How does it affect 401k or you know Mitch McConnell just whispered the word Bankruptcy he's a he's a senator Majority leader from Kentucky And bankruptcy sent ripples for the Whole thing because that means the Defined benefit pension which is Firefighters School teachers and police Officers they estimate that into March 2020 it dropped from 16 funded to nine Percent that means if if the pension Needs a hundred dollars they only had 16 And now after March 2020 it's now nine Dollars so when so when McConnell Whispered the words Bankruptcy that sent shockwaves to the Whole system because that that might Mean I don't I'm an expert in this

That the state may say to the teachers Firefighters and police officers Aloha You might you might not Is that your understanding So let me give you a short term and a Long-term answer then let me give you The Wild Card okay because when I Compare the GDP lost the economic output Loss that's being projected for the Second quarter again it's the same thing It Compares more to the Great Depression Than it does to the financial crisis in 2008 and during the Great Depression the Stock market dropped 90 percent during The Great Recession in 2008 it dropped 56 right now we're only down less than 20 percent So what does that mean Long term I believe that we need to have Another significant leg down in the Stock market and that's going to affect Pensions a little bit because pensions Don't have a ton of money in common in Stocks they're more Bond based as you're Well aware but it's really going to Affect people's 401ks if they stay in Stock mutual funds too long Short term though it gives them an Incredible opportunity we've been given A gift by Wall Street to Talking Heads On TV call it a dead cat bounce that's When the market drops like it did in March by 40 percent and it just bounces Back up more than halfway it's a great

Opportunity for those people who are Retired within 10 years of retirement to Start to take some money off the table Start to get it out of the stock market Into more conservative things to protect What they have and this happens there in Every down Market there's always these Upswings these opportunities and those People who are active who aren't sitting On their hands take advantage of them And protect themselves so long term I Think it's very bad uh what's happening Because I do think we have to have Another significant leg down in the Stock market short term though we've Been given this great opportunity the Wild card in all this is the Federal Reserve you know this there's a saying Out there says don't fight the FED If The Fed is going to print money and just Just sprinkle it all over the entire Economy well then the stock market Should do fine and generally I agree With that but the only problem is is That at the end of the day As it's only going to really help long Term if there's money it's getting Sprinkled throughout the economy is Actually spent and right now most people I talk to just don't feel comfortable if You have an unemployment rate of over 20 Percent let's say how can people feel Comfortable spending the money so I Think this recession is going to be

Deeper than anything we've seen in our Lifetime I feel pretty confident of that Now when that recession goes deep not Only does it affect the stock market but It also affects Bond defaults so now if It affects Bond defaults that's where It's going to most have the ability to Affect the pensions that you're talking About because those are Laden with bonds That and even a lot of investment grade Bonds could see some defaults so I know For example in our portfolios we're Being really really careful to look at Cash burn rates we're looking to see Okay if this company gets no revenue for Over a year can the company still pay Its basic bills uh just like you know if You got laid off right the first thing You would do if you lost your job is to Say okay and I know you haven't worked For anyone for a long long time so it's Probably a bad example but if you did You got laid off the first thing you do Is say okay how long can I pay my bills Out of savings Um so that's exactly what we've done and Hopefully these Pension funds are doing That too with their own Bond analysis uh It's just going to say interesting to Your point about people not spending the Money so I just was reading stories of You know these small businesses PPP Loans small businesses getting these Loans they have to spend it and they're

Not spending it and they have to spend It in in this time period or they Basically it's a loan and they're not Spending it a lot of them Yeah and if they do spend it uh they Might spend it to keep people employed Till September 30th But again if we haven't really gotten Through this whole thing by then Economically or certainly medically you Know then they're gonna end up laying People off September 30th so I think This PPP thing to a large degree is just Kick the can down the road unless They're willing to come up with round After round Uh and then you have the whole question Of what this uh mushrooming government Debt levels will do to the economy long Term and when you start to get to that You know I almost think that you start To get beyond my personal pay grade uh The top economists in the world could Sit and talk about that in the long-term Effects of it but the reality though is That we've never seen this it's the First time in the history of the world That we've seen debt bubbles popping up With governmental entities all across The globe it's Global and this is my Question to you David since you deal With a lot of people on a pretty Personal basis their portfolios and all This so let's say the person comes out

Of the equities Market the stock market And has a million in cash where would They put it there's two camps one is the One that is maybe a little younger or Has a little extra money than they Really need and they want to be Opportunistic you know Cassius King the rich get richer for a Reason when Real Estate goes down they Have cash reserves they buy real estate When the stock market was down they have Cash reserves they buy stocks as average Investors we're taught to buy and hold We're taught to stay fully invested Because we're told that by advisors that You know well it's not about timing the Market it's about time in the market or You know over the long run the market Always does better So these tired old cliches are forcing a Lot of average investors to stay Invested no matter what but that person Wants to be more opportunistic who wants To be a capitalist next time the market Drops versus being a victim of the Market drop has a great opportunity Right now to keep some money in cash and Just wait and be patient because There'll be a lot of good buying Opportunities coming up if they've got The psychological makeup to take Advantage of it Now what if you don't have that makeup What if you're not that kind of person

What if you're a boring investor like I Am loving bonds and bond like Instruments investing for the i instead Of the G income instead of growth well Then if you're more concerned about Protection then you can still get into That world of bonds and bond like Instruments and get a four five or even Six percent consistent interest payment Consistent dividend payment not a Dividend that's likely to get cut like Half the Common Stocks that are out There today you have some of the biggest Companies in the world if cut dividends Or eliminated dividends over the last Eight weeks so not like that but in Things that contractually have a fixed Dividend rate or a fixed interest Payment okay so you kind of have a Solution whether you want to be Opportunistic and capitalistic or Whether you just want to be protective So the reason we're coming back is to Take a break but we're just today is Davis Cranston because a great friend of The Rich Dad company always supports our Our works and we're discussing what does A person doing the post Corona economy So I'll come back it's my big concern is When people say what should I do with my Money You know I I agree with what David just Says we're standing on the sideline Right now we're just watching it but as

Some if they follow the market the Equity Market the stock market all-time Highs the bond Market's all-time highs And that's kind of a spooky time so we Come back we'll be discussing what David's Credence is What we can do in the post Corona Economy we'll be right back Welcome back Robert Kiyosaki the Richard Radio show the good news and bad news About money you can listen to the Richard radio program anytime anywhere On iTunes or Android and YouTube and Please leave a comment or review Whenever you listen And all of our programs are archived at Richdadradio.com we archive them for one Reason we're a financial education Company and we strongly recommend Repetition is the way you learn best so If you listen to this program one more Time you'll have whole new insights About what's going to be happening in The post-corona crisis So our guest today is David Scranton He's the founder of sound income Strategies he's the author of a great Book the income store E capital E was Released in 2019 And he's like I said he's broadcasting On Newsmax TV and he's the host of uh The income generation and what else I Love about David is because David is a Friend of the Rich Dad company and

Understands our philosophy and practices A lot of that philosophy and you're Training financial planners so that Gives us some very uh optimistic outlook On the future of financial planners if You're teaching them this hope about Growth income and cash flow and we're Happy about that happy to hear that it Is all about cash flow and you teach That so well and the reality of it is You know even with people like I said Retired or close to retirement it's all About cash flow these people who try to Engineer income by staying in mutual Funds too long and taking systematic Withdrawals from Mutual Funds throughout Retirement Um I don't think most of them realize The risk that they're actually taking Right right so what about giving away Your Trade Secrets what are you Recommending for the old guys who have To retire pretty quickly Well there's no one blanket Recommendation of course but if you have To retire quickly you have to sit down And say okay am I able to retire on the Lifestyle that I want or do I have to Reduce my lifestyle change my lifestyle Right now And for many they have to alter it so You know we sit down with them first of All and say okay do you want to draw Income from your Investments now do you

Want to work part-time maybe draw a Little less to let it build up you know How is this going to look in an ideal World because that affects too you know How we make investments as a general Rule we're focusing more though on Income based strategies because someone Lost their job and they're working Part-time or they're working another Position at a lower income they may be Able to live off their income which is Great if they can live off even a Part-time income and let their money Grow that's wonderful they may not be Able to add to their accounts but if They can let it grow it's wonderful full But most of them cannot do that so they Still have to get some income from these Accounts which makes it tougher because Then it means that you can't let them Grow organically which means now that's All the longer that you may have to work Part-time or in some alternate position So again it's a custom-made thing but The real issue is that you know for a Lot of those folks they really hope that They can go back and find employment That is complementary to their skill set And you know it's hard because you start Getting your later 50s especially in Your 60s it's harder to find work uh Because you know a lot of employers Today you know you can't you can't Legally age discriminate but you kind of

Know that all employers to some degree Do uh and it's just it unfortunately it Can't be I shouldn't say oh I should say Most but unfortunately it just it can't Be proven so it's one of those things That older folks who got forced out of The workforce really just just have to Deal with okay so when I was a kid Nobody was an equities Market or stock Market Everybody when I was a kid was in the Bond market but as most of what I write About is after 71 Nixon took the dollar Off the gold standard and all this fake Money started flooding the system via Debt and credit So the blue it blew all the markets real Estate bonds equities into this massive Bubble so 2000 had crashed with the.com Crash 2008 the subprime crash and now March 2020 the corona crash So what's going to happen to bonds if You know they're it's been a bull market For so long how does a person make money In bonds well First of all let's remember a couple Things bonds are always more Conservative than stocks because you Know with the stock market you have to Worry about the fickle whims of Wall Street and a company could have a good Prognosis but if Wall Street for some Reason is nervous the stock price goes Down

Bonds the biggest issue is worrying About default so the nice thing about Being a bondholder is you never worry About whether you know the the company's In favor with Wall Street are out of Favor with Wall Street all you care About is really one thing can that Company pay back their debt The good news is that today's lower Interest rates companies can carry a lot More debt so people talk about the debt Ratios in Corporate America having gone Up so much and whereas that's true I Think it's more important to talk about Uh debt Debt Service how much the Interest service is on the debt Relative to their corporate profits and That hasn't changed all that much it's Created more of a bubble because of a Lower interest rate environment So you know ultimately ultimately we Don't know how this thing's going to Play out and I agree with you all these Fiat currencies being taken under off The gold standard I think are really Problematic but it's happening with Every country we're kind of all in this Together in fact I believe that's the Reason why you know the cryptocurrencies Like Bitcoin you know became so popular Because people are thinking well we've Got to base this on something whether Bitcoin will ever take off or not I Don't know I'm personally skeptical uh

But the only the only thing I would say Is if there is a massive explosion due To the fiat currency at that point it Probably doesn't matter whether you have Money in the stock market uh in the bond Market or in Banks everybody's in Trouble so I've got to hope that that All gets worked out in some way shape or Form and at the end of the day people Can't retire off the interest that's in Bank getting paid by bank accounts Anymore or the government bonds by the Way and retiring off the stock market is Risky business especially with dividends Getting cut left and right or eliminated So the bond market is still the best way To go but it's harder now because the Analysis that you have to do with bonds Is more in-depth than ever before so I Always tell people don't try this at Home you know a lot of do-it-yourself Investors used to go to Moody standard Employers look at the ratings so it's Invest in the grade I'm going to buy it Well I think you can't do that anymore You have to look a lot deeper than that And look at a lot of the ratios and do Your own analysis again that's why I Always make the comment don't try this At home But also yeah you can get a four or five Percent return that sounds High how Would you get that today you can get That in the bond market you can get that

A little more than that in preferreds And preferreds are as you know Preferreds are basically a bond like Tool they're technically a class to Stock but they have a par value like a Bond they have a fixed dividend payment Like a bond has a fixed interest payment So they're very secure instruments so When you start to look at a blend of Some of those things you know you can be Getting five five and a half percent Average returns but it's not like in the Stock market you know the stock market For the first 20 years the century the S P 500 average 5.8 percent but you went Through a heck of a roller coaster ride To get that 5.8 average return Here we're talking five five and a half Just steady Eddie through the burden Hand the interest and dividends well Definitely people should contact you Because I sure don't know where that is Anyway so David you know there's a um With all the stimulus that's happening Right now with the coronavirus and small Businesses and individuals and companies And they're printing a lot of money and Now they're going to print more money Um what's your forecast in how this Plays out because it doesn't seem like They have any other solution except We're just going to keep printing money And keep giving companies and giving Individuals money

You mean how it's going to play out Ultimately economically for the country For the world as his deck just mushrooms Or do you mean how this particular thing Is going to play out economically and With the stock market for your listeners For for economically globally Well that's the comment I made before That that question is way above my pay Grade and I believe it's above the pay Grade of the smartest economists in the World because at the end of the day They don't we they don't have a model to Follow this has never happened before With with with uh World governments in a Pandemic way and I don't mean pandemic In a medical way I mean in a financially Pandemic way So we don't have a Playbook and I'll Give an example of something I thought Was much more predictable in fact I did Predict it uh you know in in 2007 but Most economists never predicted this When we started printing money with all The quantitative easing after the during And after the financial crisis all the Economists said we're gonna have Hyperinflation because the textbook says He's a smart economists the economics Textbook says if you print money well You're gonna get inflation and right in 2007 I said in fact I said it in a Newsletter to my clients I said wait a Minute wait a minute I think it was 2008

Actually I said wait a minute That's under the assumption of all these Old textbooks that when the government Prints money and floods the economy that People use that money to buy goods and Services to stimulate the economy but Nobody's bothering to ask the question What happens if people don't use that Money to buy goods and services and it Doesn't stimulate the economy well the Reality is you get deflationary Pressures instead of inflationary Pressures and that's why the Federal Reserve basically standing on its head And spitting nickels so to speak for the Last 13 years has tried to manufacture Inflation and have had a really Difficult time doing so Because that deflation deflationary Pressure so economists I think crossed The globe got that wrong because they're Blindly following the textbook this Issue that you mentioned that is ahead Of us now is harder than ever before and I believe it's even above my pay grade In answering that because it's one big Lab experiment and when you do a lab Experiment you start to pour chemicals Together that have been never mixed Mixed you really don't know what you're Going to get until it actually happens We can get a very nice benign outcome or We can end up with an explosion and all We can hope for again is that since the

World is in this together you say the Western world but now China's got a lot Of debt also so it's not just the Western world anymore when we're all in This together all I've got to think of Is that if if all the economies kind of Blow up at the same time then Effectively uh nobody blows up because We're all in the same boat uh and I Don't know that's wishful thinking or What I actually think but I have to tell You very honestly that's all I got On that particular topic oh was afraid Of that yep And then on another subject because you Work with a lot of baby boomers I'm just Curious Um what is the let's say Pre-coronavirus what what was the Situation with Baby Boomers and Retirement were they in a good position What percentage were in a good position Um are they are they preparing for Retirement or are they just wishing Hopefully wishing Well you get up you get both camps uh Before the coronavirus crisis uh most Studies show that only about 20 percent Of baby boomers were in a good position The other 80 were really behind the Eight ball and if you take that 80 there Were some that were really focusing on It which has got a late start Um and some that were just kind of

Throwing caution to the wind and hoping For the best Uh in in because they they have uh what What the and and Robert you know this Right they have with the with the FAA Calls resignation right you know all the Pilots hazardous attitudes well Resonation is the FAA calls it is is When you have an engine failure in an Aircraft and you just kind of throw up Your hand and say well it's in God's Hands there's nothing I can do there's Nothing I can do and you don't take Action to control the aircraft uh Whereas you probably know Bob Hoover Says fly the aircraft as far into the Crash as you possibly can uh any Pilots That are listening to your radio show Know what we're talking about there but But same thing here you know a lot of People have this resignation they just Give up and say there's nothing I can do It's too late so I'm going to do nothing And hope for the best and and you know I Have a friend of mine a close friend That did that and it's kind of a sad Situation it's very sad but in another Way it's not he kind of threw up his Hands and his his whole goal was he Bought a huge life insurance policy and Said well if I die I want to make sure My wife's taken care of but otherwise I'm gonna work the rest of my my life I Have no plan and unfortunately he died

At the young age of 59 and so for him Not saving was a good thing because he Never would have gotten to enjoy it and He was smart enough to at least take Care of his wife but it was still sad Because you know part of me wonders Sometimes if some of the things that led Up to his death or partially because in His mind he knows he didn't have a plan B he knew that he's either working Forever and never going to be able to Retire or he just he just dies early so It's really across the board so so David Running out of time I'd love to talk to You more big question is how does Somebody contact you if they want to Engage your services you go to the Retirement incomestore.com or you can go To sound Incomestrategies.com uh Sonic from Strategies as our money management arm Behind group the retirement income store And just Google those look them up and Our phone number's there you can send me A note or give me a ring on the Telephone I happen to be more of a Telephone person and then an email Person so I I'd love to talk to anyone Who wants to talk about their own Financial Security going into retirement That's a good point I do I do have one Other question because you you mentioned This earlier and I think it's a really Important point you talk about a

Person's psychological makeup So how does that play into the Coronavirus and the fears and all of This because psychological makeup can Make or break a person yeah and first of All I think it's part of what I I just Interviewed uh earlier today actually on Ben Carson and you know we're talking About the whole psychology about you Know what's going on now with the virus And how it's affecting people and the Difficult decision the president has to Make right now trying to decide okay you Know more people will die if we open the Economy but then also how many people Will die if we don't open it how many More cases of depression are you going To have or even suicide and or thefts That end up in a shooting those kinds of Things Um but in terms of Investments I think It's really caused people to really get More depressed about the prospects of Retirement because now they're worried About their job security uh the markets Are down they're concerned about okay I Was behind April not even more behind The eight ball and I'm just hoping and Praying that Mo that people don't just Throw up their hands and say you know There's nothing I can do this is the Time to take action this is the time for All of your listeners to take action to Do something whether you want to be

Opportunistic or you want to be Protective You don't you know nobody says you have To ride the market all the way down just To ride it back up again Um so that's the biggest message I want To get across now is don't do nothing I Really strongly believe now is the time Not to sit on your hands excellent thank You thank you thank you thank you thank You thanks for serving your communities Well you too thank you for the service That that you folks do oh it's a very Important stuff so David thank you very Much thank you David really appreciate It great information Everyone will contact you thanks for Having me on okay all right we'll come Back with the final words from Kim and I Will be right back and thank you David Bye Welcome back Robert Kiyosaki the rich Chat radio show the good news and bad News about money And again I want to thank David Scranton You know he's the CEO and founder of Sound income strategies in his latest Book the income store capital E store e Very important man uh especially if You're Planning a retirement like most people Eventually hopefully will do someday and His talk today was what's going to Happen to the post Corona economy and I

Personally believe the world has been Changed forever so the old formulas Stopped working yeah I I think one of The most important things that David Said was in this time right now don't Throw your hands up and do nothing this Is the time to do something and I what I Like is that you know he he teaches Individuals but he also trains a lot of Financial planners and he teaches them In the in the cash flow strategies on How you find assets that produce cash Flow Um and yeah this is this is a definitely Has changed the game but there's still a Lot you can do and especially if you're Sitting at home now and you're not Working this is the time to get smart to Get educated to start looking at what You can do instead of saying oh my God I'm a victim I can't do anything because There's a lot you can do and so one more Thing is I wish that makes no Recommendations on any Investments we'll Tell you what we invest in but we don't Recommend any Investments so that's what David's job is And uh again look anything else you Gotta be making people mind before we End this you know Kim and I we wrote a Book called retire Young retire rich And we did it in about 10 years about 10 Years and the situation is similar we Did it through real estate because the

Markets have crashed and we like we like Crashes the only question I'm hesitant About recommending that's that strategy Is we don't know when it's coming back And this one might be a long depression So exactly as David is saying and we say It's really time to start studying and You know figure out what you can do like We had uh George gaming on Watch his stuff you know on YouTube so You can figure out what's going to Happen in the future because this is a Very strange time right now yeah and you Know I was just talking to Ken McElroy Our Rich Dad advisor in real estate in Our real estate investment partner Um and he's saying there are there are Things that will will do well real Estate wise in the future and there's Going to be things that are going to Disappear like a lot of a lot of retail In the malls 50 he's predicting is is Gone so but there are opportunities out There but again you got to study you got To learn from people like George and Like David Scranton and uh you got to Figure it out so in actuality there's More opportunity today because of the Crash but how do you know a good one From a bad one and are you capable of Handling it And I'm going to promote my latest book It's with uh Ted the Dell he's an SEC Attorney it's called who stole my

Pension it's a very important book to Read because it talks about how Wall Street Is robbing our pensions it's you know It's amazing we haven't been shot yet But anyway if you want to find out how Wall Street works and Including the 401K and all these defined Benefit plans Wall Street is kind of the culprit plus The guys that manage your retirement Plans So a lot of times you're dealing with People you think you can trust and you Find out they're the worst people on Planet Earth but I leave that decision Up to you the reason Kim and I have no Money in the stock market is we simply Don't trust them Oh wait I we have absolutely no control Over the stock market we have control Over our real estate we have control Over our businesses but we have no Control in the stock market and it's not That we don't ever lose something make Mistakes we do but that's how you learn So Kim and I do extremely well right now Better than ever before But we paid the prices call we invest in Our financial education we listen to you Know people like David Scranton and Uh George Cameron and All the guys you know Jim Rogers there's So much going on right now there's also

More opportunity so again retired Young Retire Rich if you want to get out Young Retire that read that book is done with Real estate and then we'll stole my Pension if you have somebody who's Counting on their pension get that book For Christmas for them Thank you for listening to the Rich Dad Radio show thank you very much we'll see You next time Oh Foreign Foreign Boys Foreign Boys Foreign

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