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Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business
Why A Students Work for C Students - Robert Kiyosaki
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- [00:00]
Robert Kiyosaki
Guys, thanks for helping me carry my Christmas tree.
- [00:03]
Podcast Advertiser / Announcer
Zoe, this thing weighs a ton. Drew Ski, live with your legs, man.
- [00:06]
Garrett Sutton
Santa.
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Dr. Nicole
Santa, did you get my letter?
- [00:07]
Robert Kiyosaki
He's talking to you britches.
- [00:09]
Podcast Advertiser / Announcer
I'm not.
- [00:10]
Robert Kiyosaki
Of course he did.
- [00:11]
Podcast Advertiser / Announcer
Right, Santa, you know my elf Drew Ski here.
- [00:14]
Robert Kiyosaki
He handles the nice list.
- [00:15]
Podcast Advertiser / Announcer
And elf, I'm six' three.
- [00:17]
Robert Kiyosaki
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Robert Kiyosaki
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It as a gift.
- [00:33]
Robert Kiyosaki
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- [00:37]
Dr. Radha Gopalan
Nice.
- [00:37]
Robert Kiyosaki
My side of the tree is slipping. Kimber, the holidays are better.
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- [00:52]
Robert Kiyosaki
Credit sentinel balance due to payout earlier.
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- [00:54]
Robert Kiyosaki
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Robert Kiyosaki
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Robert Kiyosaki
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- [01:06]
Dr. Nicole
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- [01:11]
Robert Kiyosaki
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- [01:15]
Dr. Nicole
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- [01:18]
Podcast Advertiser / Announcer
This is the Rich dad radio show. The good news and bad news about money. Here's Robert Kiyosaki.
- [01:26]
Robert Kiyosaki
Hello, Robert Kiyosaki. And this is another lesson for people who remember of cash flow clubs, but especially for cash flow club leaders, because you're the teachers that we need today. And so today's lesson comes from this book here. Why A students work for C students. I'll say it again. Why A students work for C students. In other words, a students work for these guys here, okay? And B students, well, they work for the government. You know what I mean? These guys here are really, really smart. And these guys are not smart. So they become executives and bureaucrats. That's what it stands for. And then the real capitalists are the entrepreneurs out here. So it's a slap in the face for many A students, you know, well, my kid didn't get a good college degree, so. Well, so what? You know, in today's world, you can still be rich, you know, so today we have the rich dad advisors, or I call them my team of capitalists because they're all A students. And so you'll be hearing from A students, but they're repenting for their sins and they're learning to be C students or capitalists right now. And so before so going on, I'm not saying that going to school is not important, but what happens for people is there's academic education and most A students are A students here. So this is K through 12 in college. Then what happens? Depending upon how well you did here, you become a professional. So the A students could become doctors and lawyers and accountants. So what you'll be hearing from are my team of advisors who are doctors, lawyers and accountants, the A students. And then there is financial education. But our schools don't have any of this who don't believe in financial education. So it's academic, professional, financial. This is the biggest lesson of all. Just because you're not an A student and because you're not a doctor or a lawyer, doesn't mean you can't be rich if you have financial, if you have a good financial intelligence. So as you're playing the cash flow game and looking at all this, you notice in there, well, this is the cash flow game.
- [03:42]
Okay? This is it. As you're playing the game, you notice there's a thing called profession. And that's this here what you find out, it doesn't make any difference. In fact, it's harder for the doctors and lawyers to get out of the rat race than a janitor. So all of you guys out there who say, well, I didn't go to college, you know, and I'm a janitor, I'm a dishwasher, I'm a waiter. It doesn't make any difference if you have financial education. And that's why we created the cash flow board game that you can actually get out of the rat race and get on with your life. But one of the biggest problems I had with academics is I was a C minus student, a D plus, a C minus. But the good I was fortunate that I went to a great school for professional education. I went to the U.S. merchant Marine Academy at Kings Point, New York when I graduated from Kings Point in 1969. We're the highest paid graduates in the world because we had great professional education. I had great professional education as a ship's officer. And if you sailed to Vietnam in 1969, you made about 120,000 a year tax free. But you had to stay outside the boundary for 18 months. So we were the Highest paid graduates in the world. Except that not being the brightest guy, being a C student, I joined the Marine Corps and made $200 a month. So instead of 10,000amonth, I made $200 a month. I didn't have to worry because I had this education from my rich dad. So today we're going to be talking to my A student. These are my real A students. We all work together as a team, come from different disciplines, different professions. So I'll start with Tom Wheelwright. Tom, would you give us a little of your background? Tom is the author of the book Tax Free Wealth. And if there's really a book on how capitalism works, it's in Tom's book Tax Free Wealth. Because these guys here often pay the highest taxes and these guys pay zero taxes. Am I correct, Tom?
- [05:48]
Tom Wheelwright
No, that's exactly right. So I have an undergraduate degree in accounting from the University of Utah. I was an A student there and then I went to the University of Texas to get my master's degree in accounting.
- [06:00]
Robert Kiyosaki
The reason I'm laughing, the rich dad organization is the only organization where people choke when they say I'm an A student because we have so many guys here are here and they don't give a shit. Like Kenny McElroy is the worst. His license plate says C student on it on his Ferraris. So that's why Tom kind of chokes. I was an A student. This is the only organization, right, Tom? It's almost embarrassing to say you're an A student.
- [06:29]
Tom Wheelwright
Yeah, you have to basically say you're a recovering A student in this organization. But I do have a master's of professional accounting from the University of Texas. I specialize in taxes. I spent seven years with one of the big accounting firms, Ernst and Young, including three years in their national tax office. I spent four years as the in house tax advisor for a Fortune 1000 company and the last 25 years buying, building and selling CPA firms and teaching financial education from tax side. So I did love the academic side, I love the professional side. And the most of all, I love the financial side. And it's the hardest one.
- [07:10]
Robert Kiyosaki
And what I'm an honor is that when I met Tom, I mean 20,000 years ago when dinosaurs roamed the earth, what I was thrilled about, Tom's an A student. He's way up there in the world of accounting to work for a big eight accounting firm. It's incredible to be an instructor at a university in accounting. It's another, you know, he's definitely an A student. But use this game, cash flow game, to teach to other accountants.
- [07:35]
Dr. Radha Gopalan
Right.
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Robert Kiyosaki
Is that correct?
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Tom Wheelwright
I do. I use that every time that I teach a group of accounting professionals, CPAs. I use the cash flow game to teach the different financial statements, and I use it to teach entrepreneurs as well. Because, you know, when it comes down to a financial education, starts with the financial statements. And that's what I love about rich dad, poor dad. That's what I love about the cash flow game.
- [07:59]
Robert Kiyosaki
Thank you. So as you guys are playing this cash flow game, I want you to keep this in mind here, especially if you're the janitor. You know what? That should rattle in your brain. Is that.
- [08:11]
Why. You know. What don't I know? I mean, just because you're not making any money doesn't mean you can't be rich. So that's the whole purpose of the game here. So, Mr. Sutton, my account, my attorney. So generally, in businesses, attorneys and accountants speak different languages. They don't necessarily get along. Is that correct, Garrett?
- [08:32]
Garrett Sutton
That's true, Robert. You have legalese and you have accounting ease, I guess. And never the twain shall meet. A lot of accountants just don't understand the legal side of things, and vice versa. So it's important to have on your team people who can communicate properly with each other. And Tom and I have mutual clients, and we're able to communicate on the financial side of things and make sure everybody is working together. You have a team of an accountant, an attorney, and the client who is engaging in building their net worth. And that's our job, is to help them do that. And to do that, we need to communicate properly.
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Robert Kiyosaki
Correct. And Tom, would you agree with that? A lot of times it's adversarial between accountants and attorneys, even for the same client.
- [09:22]
Tom Wheelwright
Oh, for sure. It's the blame game, right? The accountant blames the attorney, the attorney blames the accountant. They don't talk to each other. It's actually one of the best things about working with Garrett is that we talk to each other all the time. And we just learned that, boy, you get a lot more done when you both. When you talk together and with the client and are all on the same team.
- [09:42]
Robert Kiyosaki
Right. And so be aware, Garrett says, that they speak the different language. That's not a mistake. You know, you'll find that education so many times. What was that?
- [09:55]
Garrett Sutton
So many times, Robert? You'll have the attorney say, well, that's an accountant question. Call the accountant, and the accountant says, no, that's a legal question. Talk to the lawyer. And you're playing the client's playing ping pong, right? Instead, you want to get everybody at the same table on the same phone call and get all the questions answered so the client can move ahead.
- [10:14]
Robert Kiyosaki
So, Garrett, what's your background? I mean, you went to the most prestigious law school on the west coast, in my opinion. You know, what's your back education? What was. How did you hear in here?
- [10:26]
Garrett Sutton
Well, I went to the University of California at Berkeley and graduated and then went across the bay to Hastings Law School, which is the University of California's law school in San Francisco. And the thing I found is when I became associated with the Rich dad group is I never learned financial education. They didn't teach at Berkeley, they didn't teach it at Hastings. And like so many other professionals that want to advance their net, their own net worth, you have to learn the financial game outside of college and law school. And so it's been great going around with you. My kids have learned from you, Robert, because they're going to professional schools now, too. But they know that with the professional education, they need the financial education that's just as important.
- [11:15]
Robert Kiyosaki
Thank you. And what are your children? What are they. What profession are they studying?
- [11:21]
Garrett Sutton
Well, Ted is at the University of Wyoming Law School, so he's in law school. Sarah's at the University of Nevada Med School, so she's going into medicine. And Emily is getting her master's in finance from Santa Clara. So all three of them are going the professional route, but they also, thanks to you, Robert, know they need the financial education and know that they have to invest in real estate as they.
- [11:48]
Robert Kiyosaki
Get older or they don't have to. Not real estate, but they have to understand investing, the tax loss and all that. So that's Tom's rule. Okay, so that's the whole thing here. Schools divide us. And by the way, we have a video.
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It's a cartoon about how the King maintains power. So go to the Rich dad website. It's a beautiful cartoon. It's about how the King maintains powers by dividing. So again, they divide people here, but the King maintains power here. And it's a very important video to understand the differences. So we have Dr. Nicole and Dr. Rada. Nicole, you can see all those degrees at the back of your.
- [12:39]
Give us a bit of your background, Dr. Nicole.
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Dr. Nicole
Sure. My graduate studies, my master's, my doctorate. I went to Georgetown University. I went to one of the top schools. I worked for Mayo Clinic Hospital as an employee. And, you know, I. I had great education, worked for a great establishment, but something that I Realized early on was that I learned how to treat disease. I wasn't really doing anything to promote actual health for my patients. And so that's what started to drive me into, you know, getting out of being an employee where I, I called myself a robot doctor. You know, it was just this criteria of things that you had to meet. It was nothing about personalized medicine. And so that's what drove me to want to move from the E quadrant to the S quadrant. And you know, just as, as Garrett mentioned, I was so fortunate to be surrounded with a group of you, you and the other advisors to give me a financial education so that I could make that transition and really allow my spirit to drive what I wanted to do for individuals. And that's when I started my practice, Ultra Healthy Human, where we focus on high performance health for high performance people. So we're using cutting edge technology, anti aging techniques and personalized care to slow the aging process. So my goal was to truly promote health for patients, not just treat disease as I was doing as an employee.
- [14:15]
Robert Kiyosaki
And I am, you know, myself and Kenny and Blair, we're all clients of Dr. Nick Ho. And people say, how come you've lost so much weight and how come you're looking younger and why are you healthier? It's because I stopped worrying about diet and exercise and I started focusing on health. But as Nicole says, cutting edge health, cutting edge technology that's coming in today. But unfortunately this technology is not covered by insurance. Is that correct, Dr. Nicole?
- [14:47]
Dr. Radha Gopalan
Right.
- [14:48]
Robert Kiyosaki
So it helps to be rich because you can look again, healthier, younger, live longer and look better. So that's the big thing. And here is Dr. Nicole's fiance, Dr. Radhark. Dr. Radhakalpalan I met because he's my cardiologist. I was born with a pre existing condition called heart disease. And about 20 years ago I met Dr. Gopalan and he was the attending or he was the advocate. He watched the surgeons cut on me because he is a cardiologist to make sure they didn't put, you know, a pig's heart inside my chest or something like that. But hey, we've become really best of friends. He's the author of the book A Second Opinion and the beauty of Dr. Gopalan. He's both east and west medicine. He's a doctor of cardiology and heart transplant specialist, but he's also a doctor of acupuncture. So that's where we get along so well, is because I'm not just in one area and I can talk to Dr. Koppalan about Eastern medicine as well as Western medicine. So Radha, what is your background? And then you're an A student here and all this. But you have many. You're a doctor of cardiology, but also a doctor of acupuncture, Is that correct?
- [16:03]
Dr. Radha Gopalan
Yes, yes. My background, Robert, is I was born in Sri Lanka. Born and bred in Sri Lanka. Then went to med school and then completed all the way here in the United States and then finished my training here and became a cardiologist, which is, you know, specializing in heart disease. As you can see that you not only become a professional in medicine and then you sub specialize into a one focus of one organization among all the organs of the disease. So you are kind of fine tuning your skills. But fortunately, I was gifted with an opportunity to.
- [16:39]
Be exposed to Eastern philosophies through acupuncture. When medical schools closed in Sri Lanka, that kind of opened my eyes to what I actually come to love and believe in is health and not disease. So at the time I was exposed to it, I was at medical school learning everything about disease.
- [16:59]
And then when I went to the acupuncture school, they were not talking anything about disease at all. Nothing that's interesting. Even though patients came with disease complaints, they did not talk about it. So that opened my eye to the health side of it. In fact, actually I grew up in Ayurvedic tradition. It's all about health oriented. But I never realized it was all about health because it was a lifestyle. So you just don't associate the lifestyle with health at that time. But it became clear when I started focusing on disease and came back to health, that what it meant and why health is important. And then I have just been at few major institutions in the United States building cardiology programs and practicing cardiologists and tried to combine both the Eastern and Western philosophies of medicine.
- [17:49]
Robert Kiyosaki
Yeah, and so your book is a second opinion. It is a blend of east and west medicine and how that's health. But you also said that western medicine is also not health care, but wealth care. And that's why I make the statement that many of the procedures that Nicole performs are not covered by health insurance. Have you noticed the same thing, Dr. Koppalan?
- [18:14]
Dr. Radha Gopalan
So, I mean, I think if everything runs on money, and as Garrett said in med school, I was never taught about finances. You are only taught about one disease and then two, how to recognize it, three, how to treat it. That's it. It was never about making anybody healthy. It's about making it's about treating people, but it runs. I work as an A student as you pointed out. I work for the C guys and the corporations and health system and get paid a salary and I take a paycheck and go home after doing what I'm expected to do. But the interesting part is you are never taught about finances or personal finances or how to be successful. I was trying to make a paycheck. My paycheck may be different than somebody else's, but it is still a paycheck. I have to continue to work if in order to get the paycheck every month. So until I am like well into my middle ages, I never realized anything about the C students and the financial system that you have been teaching. And I was fortunate enough to come into that circle and learn, begin to learn. So in other words, as Tom said, I am kind of undoing my academic side and becoming more and more seaside as a C student. It's hard. It's not easy. It's very hard. Once you are fully trained, as you correctly pointed out, through a school system, to believe in one thing, to undo that, to become an other, is harder.
- [19:47]
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- [21:54]
Robert Kiyosaki
So once again, the book is called why A Students Work for C Students and B Students Work for the Government. And the mindsets are differently. The big point here is when you're playing the cash flow game, I like to have you listen to what your little voice is saying to you. You say, well, I can't be rich. I can't be successful because I wasn't an A student here. So a lot of times in elementary school, these people become the A students.
- [22:22]
They're the ones who become doctors and lawyers and things like this. Whereas guys like myself and Kenny and Andy Tanner, we didn't do well here. You know, we're all C students. And I was a D minus student most of the time. But because I had capitalist education, my rich dad taught me here that said, well, I don't really care about the money because I can make it here. And that's how this, when you're playing the cash flow game and you're discussing things like this, keep that in mind because a lot of people, I hear a lot of people say, well, I can't be successful because I didn't go to college.
- [23:00]
And when you look at the on the cash flow game here, it's what's your profession?
- [23:07]
And that's the correlation here. You'll find out you can be a janitor and still kick the butt of a doctor if you have financial education. So, Tom, any comments on that? Because you see the financial statements of many, many entrepreneurs, right?
- [23:24]
Tom Wheelwright
I do. And the really successful ones are always those who really focus on the financial. They may earn money as a professional, but where they put their money is on the financial side. They recognize that it's the assets that are going to create the income and the cash flow. It's not their job because they don't want to work till they die. They don't want to do that. They don't want to be dependent. Like Radha says, a big paycheck is still a paycheck. And you're still dependent on it. Those who are really successful have made a transition. Even if they retain their professional, their professional job or their professional career, they've made that transition into the financial side. And if those who don't, I was talking to a very well known dentist the other day, said less than 3% of dentists retire financially secure. And that is just shocking when you think of how much money the dentists make and how much time they have though. I've seen dentists though, for example, who make that transition to the financial side and they're, they're wildly successful. So it really is all about the financial combined with the professional to get you where you want to go.
- [24:38]
Robert Kiyosaki
Right. So what Tom is talking about comes from this here and as my rich dad's cash flow quadrant. So what happens is you either come out as an employee, but a lot of times what people will say, oh.
- [24:53]
He'S a doctor, he makes a lot of money. And that's why my mom, you know, my poor dad just wanted to be an employee, get a job, secure job. When he found out I graduated from Kings Point in 1969, the highest paid graduate in the world, he was happiest. Larry, he says, oh, my stupid son finally did something. And like I said to Dr. Nicole, I got my diploma and I lost it within 10 minutes. I've never seen my diploma since the day I graduated. I don't know what happened to it. I think somebody stepped on it, you know, because at military school I used to say that you throw your hats in the air when you graduate. Well, I think I threw my diploma in the air instead. I never found my diploma again. It was just kind of my attitude problem towards the whole thing. But my mom wanted to become a doctor. And as Tom explains in his book Tax Free Wealth, Tom, how much in tax? Approximately. This is worldwide. Does an employee pay?
- [25:49]
Tom Wheelwright
About 40%.
- [25:51]
Robert Kiyosaki
This is worldwide, right?
- [25:54]
Dr. Radha Gopalan
Right.
- [25:54]
Robert Kiyosaki
How about doctors and specialists?
- [25:56]
Tom Wheelwright
About 60%.
- [26:00]
Robert Kiyosaki
Big business, 20%.
- [26:05]
And eyes, zero. Zero.
- [26:09]
So this is all.
- [26:13]
Financial education.
- [26:15]
So although I wasn't going to make it here because I was not very smart, I knew this is where I was going to migrate to. So the rich dad company was based upon, if you stay here, fine. You're happy here, fine. But it was for people who wanted to migrate over here. So when I met Nicole and I pointed this out to you here, here. I mean, the thing I love about Nicole, I mean, being an A student and she's very smart and very bright. Nicole, you're migrating over here right now, right yes. And so your business is called Ultra Healthy Human High Performance Health for High Performance People. I am a patient of Dr. Nicole and her stuff works. Kenny is, Blair is, Kim is. Because we don't want to look fat, old and ugly, right? Dr. Nicole yes. So what are your thoughts? As you know, you came out, you come out an A student from Georgetown. What have some of your peers done, your classmates, what's happened to them?
- [27:15]
Dr. Nicole
So they, I think everyone that I went to school with became employees. And I hear them constantly complain about their job and how much they're restricted as practitioners. And you know, some of their, you know, a lot of people in health care go into it because they're like, I want to make a change. I want to help people. But then when they become employees, they're. They aren't able to. All they're doing is, you know, treating symptoms and not doing anything to help people stay young or carry out, you know, what their spirit drove them to go into that profession for. So I, you know, I went against the grain and I said, you know, even though I didn't at the time have that solid financial education, it was my spirit that drove me to, I want to do what's right for people that want to slow their aging process, who want to be healthy, who want to be fit. And so that's what, that's why I went, you know, moved into the squadron. But then, you know, now I'm at the level where I'm trying to move to the right side of the quadrant. And so one of the best lessons that I learned was buy the real estate that my practice is in. So once I did that, my business paid for my real estate. So now I'm accumulating assets, which, you know, it's great to have assets, but then also the tax benefits from it. It's, it's amazing because now I can take those tax benefits and reinvest it into my business to continue to grow and keep that cutting edge technology coming, coming into the practice so that I can pay it forward to my patients and have them continue to benefit from these services.
- [29:00]
Robert Kiyosaki
So what Nicole, what happened to Nicole? She didn't want to become an E, right? So she started her business, but now and then she acts as an investor. She's buying her property. So the business is buying her property. It means her taxes go down. So she's making more money paying less taxes and she's building a brand. B stands for brand. And what's your brand, Nicole?
- [29:20]
Dr. Nicole
Ultra Healthy human.
- [29:22]
Robert Kiyosaki
And who is your brand for?
- [29:24]
Dr. Nicole
High performance Health for high performance people.
- [29:27]
Robert Kiyosaki
Right. And what that does is defines our customer. So what happens then? That's why Garrett kicks in. Because Garrett. Now, why does she need you?
- [29:39]
Garrett Sutton
Well, she's accumulating assets and she needs to protect them.
- [29:43]
Robert Kiyosaki
And how does she do that?
- [29:45]
Garrett Sutton
Through setting up LLCs and corporations and in some cases, trusts. But Nicole's to the point where she needs legal assistance to protect her assets.
- [29:56]
Robert Kiyosaki
Correct? Because if she didn't, she didn't. She didn't cover her real estate and she didn't cover her business and she didn't cover her brand, what would happen?
- [30:04]
Garrett Sutton
Well, she's in the medical practice. You can get sued for malpractice. They have a personal claim against you. If your assets are held in your personal name, you lose.
- [30:13]
Robert Kiyosaki
Yeah, it's a high risk profession. They make a lot of money, but it's high risk from the legal side and from the tax side. Is that correct tomorrow?
- [30:21]
Tom Wheelwright
No, absolutely. I mean, really high taxes. What Nicole's done great is she's listened to her teammates and learned that, okay, if she moves to the I quadrant, she's going to get a lot more tax benefits from the S quadrant.
- [30:35]
Robert Kiyosaki
But this is the funny part. Nicole is the A student and she's listening to C students over here.
- [30:44]
Like Kenny and Andy and myself. You know, I mean, that's the synergy there. What do you think, Radha? Are you proud of Nicole? I mean, she's really smoking a lot. I mean, the boys love working with her because she's so smart and pretty, but she's moving fast over to here. What do you think of that as a professional, as a medical doctor?
- [31:05]
Dr. Radha Gopalan
Oh, absolutely. I'm very proud of Nicole's progress in a very short time. Quick grasp of the finances and I think one of the reasons I should say, and I think Garrett and Tom might agree with me, is that the longer you stay as an AA student, the harder and longer it takes for you to undo yourself and get back into the seaside. I think the fortunate thing for Nicole is that as soon as she finished and graduated, she got introduced to the rich dad advices. And she has to undo only a small amount of conditioning in order to start grasping and understanding all the financial side of it. So I think her growth is going to be faster because she started early with a less degree of conditioning compared to us. I have been for like 30 years, and being an A student, it's going to take another 30, and I don't have my lifespan up to that point to become a successful C student.
- [31:57]
Robert Kiyosaki
Right. So What Radha is saying here is this, you graduate and you say, oh, I'm a medical doctor. My mother kept saying, why don't you become a doctor? So, well, you're smart. She goes, you shouldn't be a doctor. But anyway, they focus here, ease, in essence, focus on this income here. What Nicole is doing is focusing on here. Is that correct, Nicole?
- [32:21]
Dr. Nicole
Yeah. Moving to the asset column and how these assets can help my business continue to grow forward and have tax benefits. And also while even within my business, you know, having a team is also going to benefit me as far as taxes and being able to bring in assets.
- [32:42]
Robert Kiyosaki
And you'll actually work less.
- [32:44]
Dr. Nicole
Yes.
- [32:44]
Robert Kiyosaki
And make more money.
- [32:46]
Dr. Nicole
Yes.
- [32:47]
Robert Kiyosaki
Okay. And you can serve more people.
- [32:50]
Dr. Nicole
Exactly.
- [32:50]
Robert Kiyosaki
And that's why her brand is ultra healthy human high performance health for high performance people. So anyway, that's what you play in the cash flow game is take your mind off of this, onto this and it really doesn't make a difference what your profession is as long as you focus on here.
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Robert Kiyosaki
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Garrett Sutton
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Dr. Nicole
Santa, did you get my letter?
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Robert Kiyosaki
He's talking to you, Bridges.
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Of course, Santa.
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Dr. Radha Gopalan
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Robert Kiyosaki
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- [35:47]
Robert Kiyosaki
So final words, Tom, real quick.
- [35:50]
Tom Wheelwright
You know, cash flow game is one of the best.
- [35:54]
Absolutely the best way to get good financial education. Learn about the benefits of the asset column, not just the income column. And like you say, Robert, anybody can do this. Some of my most successful clients have no professional education at all. They have no college degree. And they're ultra successful people. They need Nicole because they are ultrally successful because they've moved over to the being the eye side. And that comes from playing that cash flow game. And that's why I play it so much with the people I teach.
- [36:25]
Robert Kiyosaki
Right. And Garrett, if you focus here, they got to have your services, right?
- [36:32]
Garrett Sutton
Absolutely. As you start out and you start acquiring assets, you need to protect them right from the start. Because as everyone knows, we're a very litigious society. If you do well, there are people out there that would like to take your assets from you. So you need an attorney on your team right from the start to protect your assets.
- [36:50]
Robert Kiyosaki
Right. But this is the interesting thing that both Tom and Garrett taught me. You actually need both. So to achieve this kind of tax event, you have to have both. Right. Accountants and attorney, Tom?
- [37:04]
Tom Wheelwright
Absolutely. If you just have an accountant, you're going to miss the legal side. If you just have an attorney, you're going to miss the accounting side and the tax side. And so it's that combination that makes it work. It's that synergy that makes it work.
- [37:16]
Robert Kiyosaki
Yeah. And that's the word synergy. It's the magic of a team coming together. So this is my capitalist team of a students. And then we have health. You know, like I said, when I was shopping Yesterday talking to Dr. Nicole, I noticed guys my age are like this. And that's the precursor for obesity, diabetic heart disease, all that stuff. Its health. And becomes more important today than ever before. So that's why Radha's been my personal doctor for years. But I'm also teaching him to think on this side. Right, Radha?
- [37:48]
Dr. Radha Gopalan
Yes, absolutely.
- [37:49]
Robert Kiyosaki
So anyway, what are your final words?
- [37:52]
Dr. Radha Gopalan
Oh, yeah, absolutely. And I think I was introduced to cash flow. Cash flow, the concept of cash flow by you in 2008. Ever since I realized, I mean, here's the story. I was a successful position and I was walking around thinking that I'm a rich guy until I read your book. I was in a very short plane ride of four hours. Taught me one lesson that I wasn't rich. Because you define rich as completely different than what I had in my mind. That goes to tell us why financial education is important for a student. I was thinking if you got a good paycheck, you're rich. Your definition of rich is and wealth. It's not about paycheck. It's about how long you can survive without having to work and support yourself. And it is measured in time. And that concept never. It was never taught in that school or even any of the schools I went. And I think one of the message that I want to give the audience is the fact that even if you are a professional and you're pursuing a professional career, simultaneously learning finances at a younger age so that you don't have to really go through the process of undoing all the damage and the conditioning that happens when you go through the school is the smarter thing to do. It doesn't matter whether you want to become a professional or not. And I think Tom and Gareth will agree with it. You don't have to be a professional to get rich. But if you do want, that's fine. But simultaneous training in financial system like Nicole is doing is a smart thing to do if you want to be an A student.
- [39:25]
Robert Kiyosaki
Correct.
- [39:26]
Dr. Radha Gopalan
And so I think that's my final message. I learned it the hard Way I learned it when I was in my 40s about cash flows. So there is my message.
- [39:34]
Robert Kiyosaki
Thank you and Dr. Nicole, final words.
- [39:39]
Dr. Nicole
So for people starting out trying to gain financial education, I second Tom. And that cash flow game is amazing. It's fun, it helps to expand. You're learning and understand these concepts. And personally, as a young entrepreneur, having a finding a group of mentors in that team, just what we have here that will help you so much. And, and the beautiful part of having a financial education is this allows you not only financial freedom but for you to be free to contribute to society, whatever, however your spirit is driving you. And recently you quoted one of your. Robert, you quoted one of your mentors, Bucky Fuller, and you said that or he said that we are the architects of the future and in order to be an architect of the future, you have to have a financial education.
- [40:33]
Dr. Radha Gopalan
Correct.
- [40:34]
Robert Kiyosaki
So with that, ladies and gentlemen, that's why I wrote this book here, why A students work for C students and B Students work for the government. Anyway, thank you all. Keep playing the cash flow game and keep learning, but keep this message from these A students in your mind as you're playing the game. Thank you very much and thank you all.
- [40:53]
Dr. Nicole
Thank you.
- [40:54]
Dr. Radha Gopalan
Thank you, Robert.
- [41:00]
Dr. Nicole
This podcast is a presentation of Rich.
- [41:03]
Tom Wheelwright
Dad Media Network.
- [41:06]
Robert Kiyosaki
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You love the host, you seek it.
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Robert Kiyosaki
Out and download it. You listen to it while driving, working out, cooking, even going to the bathroom. Podcasts are a pretty close companion. And this is a podcast ad. Did I get your attention?
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Robert Kiyosaki
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Robert Kiyosaki
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