Why Financial Education Matters More Than Saving Money

Summary

Rich Dad Radio Show – “Why Financial Education Matters More Than Saving Money”
April 8, 2026
Host: Robert Kiyosaki
Guests: Carl & Bruno Davidson (Cash Flow Club of Ireland)

---

Episode Overview

In this episode, Robert Kiyosaki dives deep into the critical importance of financial education versus the traditional approach of saving money. Joined by Carl and Bruno Davidson—longtime Rich Dad friends and leaders of Ireland’s Cash Flow Club—the conversation explores how teaching and playing the Cash Flow board game has reshaped their mindsets and financial strategies. The discussion spans financial programming, inflation, asset accumulation, and why your beliefs (and friends) matter as much as your bank balance.

---

Key Discussion Points & Insights

1. Breaking Free from Financial Programming (01:01–05:48)

• The Power of Programming:

  • Robert demonstrates the worthlessness of hyperinflated currency (“This here is a Zimbabwe dollar. It’s 10 million. Is this worth nothing?” – Robert, 01:01), setting the stage for a discussion on why blindly saving money can be futile.
  • Carl shares his pivotal first game experience:
    “I went bankrupt in the first couple of turns…that was my biggest wake up call because that was only bankrupt on a 3 bed, 2 bath house.” (Carl, 03:08–03:50)
  • Robert explains how our upbringing pre-programs our beliefs about money, trapping many in cycles of poverty or missed opportunity. (03:50–04:40)

• Transforming Mindsets:

  • Bruno relays: “My belief system was always like business and investing genuinely was for men in suits… and that wasn’t for me… seeing the other side… completely transformed my life.” (Bruno, 05:26)
  • Carl recounts listening to Rich Dad Poor Dad in Japan, realizing how societal expectations limited his perspective. (Carl, 05:48)

2. The Cash Flow Game as a Mirror (06:21–14:55)

• Learning through Play:

  • Robert stresses: “Teaching is how you get smarter… watching a new guy play—it’s interesting, painful, sad, hysterical.” (Robert, 06:21)
  • Bruno describes how players from diverse backgrounds—teens, bankers, property investors—all have “mind blown” moments, learning more in a few hours than in years of formal education. (Bruno, 07:25)

• Behavioral Reflections:

  • “Games reflect your behavior. This guy was a crook” – Robert shares a story of a stockbroker cheating at Cash Flow (11:28).
  • Carl summarizes: “Money definitely amplifies who you are. So the game reflects that. Are you going to retreat? Are you indecisive?… That was a win for him [paying off a mortgage] but it’s not the aim of the game.” (11:47 & 12:37)
  • Bruno and Carl introduce a rule: friends and couples must sit apart to reveal their true individual financial behaviors and prevent arguments. (12:46–13:09)
  • “When you fail, obviously fail is like the acronym—First Attempt In Learning.” – Carl (14:30)

3. Inflation, Assets, and the Illusion of Security (18:14–24:14)

• Fake Money vs. Real Assets:

  • Robert: “This is a $5 bill, this is toilet paper, and this here is a 1964 quarter… Do you want this, or do you want this? They always take this [the paper]. And this is worth $10. This is only $5. Because this is a silver.” (19:04–19:32)
  • Bruno and Carl tell the story of investing in silver after taking a Rich Dad course in China in 2017:
    “At that time, our goal was to have enough silver that it was the same weight as me… we’ve been investing in silver heavily since 2018.” (Bruno, 19:44–20:34)

• Debt and Leveraging Assets:

  • Robert explains using debt as an investment tool—refinancing property to buy oil, profiting from global instability:
    “We increased the value of the property, we didn’t sell it, we borrowed out the equity…it was $1 million…oil goes up, so I get richer.” (Robert, 23:05)

• The Trap of Clinging to Old Advice:

  • “Life gets more expensive…prices go up, the poor middle class gets poorer…their information is old…job security, save money, get out of debt, invest in the stock market. That’s old, old information.” – Robert (23:05–24:14)

4. Global Challenges & The Need for Education (24:14–27:43)

• Shared Economic Issues:

  • The guests discuss Ireland’s housing crisis, paralleling the homelessness surge in the US.
    “People in their 30s still living with their parents…they may be under a roof, but they’re still technically homeless.” – Bruno (26:36)
  • Concerns rise about AI, national debt, and inflation making the poor poorer and “the rich get richer.” (Robert, 25:11–26:20)

• Why Most Stay Poor:

  • “The thing I’m always amazed at when I teach is how people do their best to stay poor. They just stay poor because it’s stuck up here [in their heads]…” – Robert (27:48)
  • Carl: “One of the best ways to fight all of this is to actually get yourself financially educated and start accumulating as many assets as possible…surround yourself with people that have what you want and you’ll grow that way…” (28:50)

5. Action Steps and Final Thoughts (30:59–32:20)

• Turning Theory to Practice:

  • Bruno: “We’re literally turning our home into an asset. So we created an apartment at the home to pay for the house itself.” (Bruno, 31:18)
  • Carl: “New deals, new opportunities everywhere…our network is completely different now.” (31:35)
  • Robert: “Your greatest asset is your brain, but also your friends and, you know, education.” (31:59)

• The Main Takeaway:

  • “We created the Cash Flow game back in 1996 so people could teach people. You bypass the school system, but the benefits are you don’t really care which way the economy is going because you’ll get rich…most importantly, you meet great friends.” – Robert (32:20)

---

Notable Quotes & Memorable Moments

• “I went bankrupt in the first couple of turns…that was my biggest wake up call.” — Carl Davidson (03:08)
• “You learn more every time you teach.” — Robert Kiyosaki (02:43)
• “Money definitely amplifies who you are. So the game reflects that.” — Carl Davidson (11:47)
• “First attempt in learning.” (FAIL acronym) — Carl Davidson (14:30)
• “Create your economy within the economy.” — Carl Davidson (09:20)
• “Your greatest asset is your brain, but also your friends and education.” — Robert Kiyosaki (31:59)

---

Timestamps for Important Segments

• 01:01 – Robert illustrates the worthlessness of fiat money and introduces the theme
• 03:08 – Carl’s first game experience and financial programming epiphany
• 05:26 – Bruno’s “mind exploded” reading Rich Dad, Poor Dad
• 11:28 – Robert’s anecdote of a cheating player: “Games reflect your behavior”
• 14:30 – Carl introduces “FAIL: First Attempt In Learning”
• 19:04 – Robert on silver vs. fake dollars
• 20:34 – The Davidsons' dense silver investing story
• 23:05 – Robert on leveraging real estate and debt
• 26:36 – Bruno on Ireland’s housing crisis and generational housing
• 28:50 – Carl’s advice: “Get financially educated… accumulate assets”
• 31:18 – Turning a home into an asset: real-life Cash Flow application
• 31:59 – Robert’s closing wisdom: “Your greatest asset is your brain, but also your friends and, you know, education.”

---

Episode Tone

Candid, irreverent, and personal—with humor and frank “in-your-face” advice, the conversation blends storytelling, global perspective, and practical tips. The tone is direct and motivational, challenging listeners to question old beliefs and take control of their financial future.

---

This summary captures the core lessons, stories, and standout quotes from the episode—offering an engaging roadmap for anyone seeking to shift from saving to smart financial education.

Transcript

[Commercial Narrator]

Not every sale happens at the register. Before AT&T business Wireless checking out customers on our mobile POS systems took too long. Basically a staring contest where everyone loses. It's crazy what people will say during an awkward silence. Now transactions are done before the silence takes hold. That means I can focus on the task at hand and make an extra sale or two. Sometimes I do miss the bonding time. Sometimes.

[Robert Kiyosaki]

AT&T business Wireless connecting changes everything.

[Commercial Narrator]

Quality proteins aren't just for special occasions. With Omaha Steaks you get mouth watering proteins delivered right to your door individually packaged and portioned. So a great dinner is just minutes away from Taco Tuesday to a weekend feast. Taste the Omaha steaks difference. Start getting flavorful proteins delivered today. Visit omahastakes.com and get $35 off with promo code audio at checkout. That's omahasteaks.com code A U D I terms apply. See site for details yeah, and this

[Robert Kiyosaki]

here is a Zimbabwe dollar. It's 10 million. Is this worth nothing?

[Carl Davidson]

Nothing.

[Robert Kiyosaki]

And this is the US dollar like this in a short while and people are still saving toilet paper. It makes no people are that stupid. I can't believe it. Hello, hello, hello. Robert Kiyosaki Rich dad radio show broadcasting from Phoenix, Arizona where I would say it's either heaven or hell. And right now it's heaven. It'll soon be hell. It gets hot. I'm very excited to have old friends Carl and Bruno Davidson. They're from Ireland and they run the cash flow club there. It's now been about 10 years on how many people you can teach in 10 years. But what I am thrilled with is the purpose of the game was to bypass the school system and people could teach people because I don't know how it is in Ireland but right now our school system is so messed up now school grades are going down. One that go teach us about money. So in 1996 my wife Kim and I created the cash flow board game to bypass the school system and we didn't know if it would work or not but. But Carl and Brono Davidson, they teach it all over Ireland. I'm very proud and thank you for teaching.

[Carl Davidson]

Thank you. Thank you for having us on the show.

[Bruno Davidson]

The 30 year anniversary of Cash Flow 101.

[Carl Davidson]

Yeah, yeah. It's been an incredible journey and we

[Robert Kiyosaki]

were talking about this before went on. Don't you learn more every time you teach?

[Carl Davidson]

Oh, absolutely.

[Bruno Davidson]

You know the first time Robert that we ever got the Game Cash Flow 101, I'll always remember we went to the west of Ireland it was heaven or hell. It was hell. It was a big storm. So we cracked open the game. I'll always remember. We were in a little bnb. We opened it up. I was so excited to play. And Carl, literally, what did you do?

[Carl Davidson]

I went bankrupt in the first couple of turns.

[Bruno Davidson]

Like literally 20 minutes, 20 minutes in, been bankrupt. So from that moment on we've just been learning, learning, learning either from our own playing or from, you know, talking to and playing with other people. It's just been an incredible journey.

[Carl Davidson]

Yeah, I mean I, I'll always remember the fact that I went bankrupt because I had that like aha moment where I was like, oh my God, this is the pre programming that's, you know, that I learned growing up through the school system, through the parents, true people all around me. And it was my biggest wake up call because that was only bankrupt on a tree. Bed two bath house.

[Robert Kiyosaki]

You said the magic words. You know, all of us are pre programmed. You know, poor people are programmed to be poor and rich are kind of programmed to be rich. So the cash flow game, because it's a physical process, you have to actually numbers, erase, make mistakes and all that, it breaks up the old programming because it's very hard for a person from a poor family to get rich because it's their, their family heritage, the family culture goes with them. That's why some of my professional athletes in America, they make millions of dollars, let's say a pro basketball player. But they're broke six years later as. Because the old program has not changed money will not change it. So thank you for teaching the game.

[Bruno Davidson]

Yeah, thank you so much. Like it's so funny because my programming growing up, my, my mom is a self possessed communist. Like she loved communism. My dad is like old school Irish Republican, which is more socialist than it would be American Republican. And I would have grown up like definitely like in SJW, a social justice warrior. And then in 2015 I joined a network marketing company with a huge personal development program. And through that I just like really learned to question my belief systems and just question everything really. And it was so funny. Anytime finances would come up, I would just shut off and just think about everything else that they had been talking about. And about a year in I was like, okay, finally I'll get this book that he talk about rich dad, poor dad.

[Carl Davidson]

Yeah.

[Bruno Davidson]

And it just, my mind just exploded. Like my belief system was always like business and investing genuinely was for men in suits that have briefcases and they go to an office. And that wasn't for me. And I was okay with that. And just seeing the other side of the coin, like that just completely transformed my life and then Carl's life, because I ended up in shape. The Hinton book too. So.

[Carl Davidson]

Yeah. Yeah. So I actually listened to it in Japan, of all places, when I was on a work assignment there. And again, just completely eye opener. I just, it. I was like, oh my God. Because I did everything that society programmed me to do. I went to school, got good grades, have an electrical engineering degree, worked in big semiconductor companies all across the world. And this was like, for me, I was like, oh, this is the other side of the coin that nobody talks about, or at least very little people talk about.

[Bruno Davidson]

No one in our circle.

[Robert Kiyosaki]

Well, that's, you know, teaching is how you get. You get smarter. I mean, I learned something new every time for me. But one of the things I find interesting is watching, you know, a new guy, you know, they've never played the game before. It's kind of. It's interesting, it's painful, it's sad, it's hysterical. And I remember this. I mean, some of the mistakes that people make, it's. It's incredible. Like they. They draw a card, you got a $1 stock, you know, and. And you know, playing the game so many times, you know, the dollar stock's the best. They got this dollar stock, they'll say, I'll take five. Yeah. And they should just back up the truck, you know, but they're so afraid of losing if they don't play that game. They stay losers. That's the hard part.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

So that one loss or they get

[Bruno Davidson]

like a real estate card and they just get really into the nitty gritty and like, overthinking everything and everything is such a huge decision. Like, it's just, it's so fascinating. We've had teenagers play, like, in the last 10 years, we've had people that work for one of the largest banks in Ireland. We have property investors like the average Joe. We have everyone coming in to play with us. And it's just so fascinating. Every single one of them is just mind blown. Like, even the person who worked for one of the largest banks, she said, all my university, everything that I've done in my work, I've learned more in the last four or five hours than I have in all of that time. It's just phenomenal. You learn so much from the people that you play with as well. It's just incredible.

[Robert Kiyosaki]

Yeah. And that's the beauty of that game was people teaching people and Learning. And they're learning because you can always learn more. I think one of the valuable lessons, not to get political, but right now we have a war. Thanks Trump going on in Iran and people are crying the blues going inflation because the price of oil goes up. And I just go, I'll just buy more oil. I sold a piece of real estate for a million six US and I bought a million six in oil property. So I got richer and richer and richer, crying the blues about inflation and all that. And they should. But they don't teach you that you don't have to be poor no matter what the, no matter what Donald Trump does or Shane Fain does or Ira does or, you know, the Democrats, Republicans, it doesn't make any difference what they do.

[Carl Davidson]

Exactly.

[Robert Kiyosaki]

What you do makes a difference.

[Carl Davidson]

That's something that I always say, you know, to people, to clients, to everyone. It's like create your economy within the economy, you know, left wing, right wing, same bird, you know, so just create your economy within the economy.

[Bruno Davidson]

And I was listening to your interview that you had earlier this month with Richard Duncan and you were talking about macro economy. And as I was listening to that, I was thinking, yeah, that's why it's so important for people to create their own micro economy, you know, to create your own bubble that you can live in. And that's true. The teachings that you have and like being able to sit on the edge of the coin and to see both sides and to make decisions based on that. And that's something that you've always said and said for years, like be prepared for a crash. Like, you know, things can happen and that's the time to like really like market that and to get, get rich when things go wrong. Really?

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

It's interesting when I talk to poor people, I mean highly educated poor people, my family, highly educated poor people, their brains are stuck. I mean, it's their thoughts that make them poor.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

And don't have to be. Just change the way you think. You know, just look at different things and all this. Like, like, you know, 2008, there was a huge crash in America, you know, real estate crash.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

I made so much money in that crash. And then now where this is 2026 now. And no Thomas and what's his name, Edgar Casey said 2026 is going to be a massive crash. I don't care. Yes. You know what I mean?

[Carl Davidson]

Exactly.

[Robert Kiyosaki]

And I think that's what being rich means, that you don't care. Yeah. Just stop you. So, so what have you. I want you to think about this. Who are some of the funniest people you've tried to teach the game to?

[Carl Davidson]

I actually lives. I had. Go ahead.

[Robert Kiyosaki]

I had this one guy cheating. He was taking. He was a stockbroker, so he was taking out all the real estate cars and hiding them. So what I always say games reflect your behavior. This guy was a crook.

[Carl Davidson]

Yeah, that's it. Like, money definitely amplifies who you are. So the game reflects that. When you play the game, you're. You're just seeing a mirror of yourself and it's just how you deal with money. Like, are you going to retreat? Are you going to be indecisive? Are you going to let opportunities pass by? You know, one. One time we were playing and the aim of the game is to increase your expenses and. Or, sorry, not to increase your expenses, increase your passive income and basically get out of your. Out of rat race. And I just was fixated on one guy who basically just wanted to pay off his whole mortgage. That was his. That was his program was like, I just want to pay off the whole mortgage. I'm like, but why? That's not the aim of the game, you know. But he just kept on going and kept on going and that was a win for him. But it's not the aim of the game.

[Bruno Davidson]

We actually have a rule, Robert, when we're playing a game that if someone comes with someone else, so whether it's a friend or it's a partner, they have to sit on different tables.

[Carl Davidson]

Yes.

[Bruno Davidson]

Because we've had instances where best friends are like, arguing with each other. Couples are arguing because they're like have. They have completely different belief systems when it comes to money. Under. Like, like wives are saying to their husbands or vice versa, like, why are you doing that? Don't be doing that. And we don't want that. We want people to have their own experience and to be able to actually see a reflection of their own belief system. So we separate them.

[Carl Davidson]

Yeah.

[Bruno Davidson]

Also for ourselves, just to like prevent any arguments. But actually a big learning that we had. We were playing one time with a real estate investor is pretty big here in Ireland. And it was something silly. Like one of us had a card we didn't want, but we wanted to sell to the other one. And we're trying to negotiate a deal. And I was being stubborn and Carl was being stubborn. I mean, he was just like, just do the deal. And like that's something has ingrained in our mind for so long. Like we ended up like, not doing anything on the Two of us lost out. Like, it just doesn't make any sense. So, like, we learn, we, we teach them and they teach us.

[Robert Kiyosaki]

So what Carl and Bro saying is that the game reflects you.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

You know, it reflects you what you do in real life. And so if you want to change what you do in real life, play the game, you go, I should change this. Like, I still crack up. That guy, he had a dollar stock and he says, I'll take 10. I'm going, yeah. And I've had other people, they borrow as much money as they can so they can buy as many dollar stocks as possible, but that reflects their behavior. And until you look at yourself, you can't change yourself. So that's the power of the game. Yeah.

[Bruno Davidson]

You created a space where people really can, you know, challenge their belief systems and trial, test and trial. Different.

[Carl Davidson]

Yes, that's a big one.

[Bruno Davidson]

Objectives. Yeah.

[Carl Davidson]

You know, because when you do fail, obviously fail is like the acronym first attempt in learning. So when you play the game for the first time and you, you're indecisive, you don't want to make a decision, or you decide not to make a decision, which is still making a decision, and you don't do the deal, you don't like, you don't make more money, then you know, you're, you can see yourself as like a failure. So it's really, it's so fascinating.

[Robert Kiyosaki]

Yeah. Again, games reflect behavior. And that's the cash flow board game back there. And when we come back, we'll be talking more to Carl and Bruno Davidson.

[Advertisement Narrator]

If you want to be a rich investor and you have to see the future, and seeing the future right now is not that hard. Governments will never stop printing money, which means the national debt only goes up, which means inflation only goes up, which means savers of dollars keep losing by design. And then there's the war. What's happening in the Middle east is not a political conflict. It's a holy war. Christians and Jews against Muslims. Holy wars don't end, which means oil prices only go up. More oil, more inflation, more pressure on Eurodollars. For decades, they told you to go to school, get a job, save money, put it all in a 401k full of stocks, bonds and mutual funds. That is the Kool Aid. If something can be printed, it's fake. Real gold and real silver are. Real gold hit over $5,000 in 2026. And even with recent dips, JP Morgan and Wells Fargo still forecast $6,300 by the end of the year. The Smart money is not debating whether gold goes higher. The debate is how high priority goals Free Rich Dad Wealth Defense Guide shows you exactly how to move your IRA and 401k into physical gold and silver tax and penalty free with up to $10,000 in free silver on qualifying purchases. Call 866-703-9895 now that's 866 703.98.95 or text guide the 24999 or click the link in the description below. Don't save the thing they're printing, own the things they can't and get in before gold soars to $6,300. Get your free Rich Dad Wealth Events Guide now to learn three easy steps to add gold to your portfolio, tax and penalty free. Call 866-703-9895, text guide to 24999 or click the link in the description below. I used to over complicate my wardrobe and then I found Quint's and I realized I didn't need a closet overstuff with options. Rather I needed a few pieces I could mix and match and that actually worked. I love my lightweight cashmere sweater that I got from Quints and how I can wear it with a Pro Tech Golf pant or switch into the cotton Chino drawstring shorts without skipping a beat. These are just some of the versatile pieces that make my wardrobe actually work season to season. Plus, Quince works directly with top factories and cuts out the middleman. So I'm not paying for brand markups, just quality clothing at a great price.

[Robert Kiyosaki]

Right now.

[Advertisement Narrator]

Go to quince.com rich dad for free shipping and 365 day returns. That's a full year to build your wardrobe and love it and you will now available in Canada too. Don't keep settling for clothes that don't last. Go to quinc.com richdad for free shipping and 365 day returns. Quince.com richdad.

[Robert Kiyosaki]

Welcome back Robert Kiyosaki Rich dad Radio show once again broadcasting from Phoenix, Arizona. Our guests today are Carl and Bruno Davidson. They're the Cash Flow Club of Ireland. Ten years now they've been teaching and we're talking about not only do you learn, you personally learn that time you teach, you actually learn more by watching the idiot. I mean the person in front of you playing the game. You know, because people's mind games reflect your behavior and it's important today because look at the turmoil in the world. I mean this is incredible and inflation is going to go up because of this war in the Middle east, which well knows a holy war. It's, you know, Jews and Jews and Christians versus Muslims, plus oil.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

But we're talking about. This here is fake money. This is a $5 bill, this is toilet paper, and this here is a 1964 quarter. So a lot of times, here's 25 cents. And I'll show this off here and I'll go to a store and say, which one do you want? Do you want this or do you want this? They always take this.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

And this is worth $10. This is only $5. Because this is a silver. Are you saving silver too?

[Carl Davidson]

Yeah, absolutely.

[Bruno Davidson]

So in 2017, yeah, we moved to China and we came into with some of money and we were like, what are we going to do with this money? So we decided to contact the rich dad company and we signed up for our course. And from that course we decided to use the rest of the money to invest in silver. So at that time, a five kilo bar was around €2,500. Yeah. Right now it would be how much?

[Carl Davidson]

Upwards of €10,12,000.

[Bruno Davidson]

So at that time our goal was to have enough silver that it was the same weight as me. So I wanted literally my weight flavor. And then we ticked off that goal. So I was very happy with that. So, yeah, we've been investing in silver heavily since 2018.

[Carl Davidson]

Yeah. Reason being was also it's a practical metal. So with my semiconductor engineering background, I realized that it's used in so much consumer products like laptops, phones, everything, data centers. And I was like, this just makes practical sense. You know, it's a precious metal. It's, you know, when we started getting silver ounces, they were like €30. Now they're up at, you know, close to €100, which is just fiat currency. And then we just started buying like kilos. And yeah, we just went heavy on, on silver because it, it's, it's used in all industries as well. So it just.

[Bruno Davidson]

God's money just makes sense.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

And this here is a Zimbabwe dollar. It's 10 million, just worth nothing. And this is the US dollar. Like this in a short while and people are still saving toilet paper.

[Carl Davidson]

Yeah, yeah.

[Robert Kiyosaki]

It makes no. People are that stupid. I can't believe it.

[Bruno Davidson]

I just find it so sad though. My dad would have been 90 this year. He was like 65 when he had me. He was the youngest of his family and still proper old school. Born in 1936, so like learning. He was very frugal man, but like literally Born during the war, like rationing, all that sort of stuff. And, like, when I think of the sabers being losers, I think of people like my dad, but obviously, like, there's new versions of my dad now, which is our age as well. I just actually think it's so tragic. And that's why I think it's so important that the books that you've released, the game, like the casual board game, that people, as many people as possible, get their hands on them to be able to see the other side of the coin and to be able to understand that sabers are losers.

[Carl Davidson]

Yeah, yeah, yeah.

[Robert Kiyosaki]

That's the best thing about that game is you teach. You learn and you teach. You watch other people learn, but you also learn why they're broke.

[Carl Davidson]

Yep.

[Robert Kiyosaki]

Do you know what I mean? You can see they're. They're stuck.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

Like, have job security. I'm going, but AI is coming. Yeah, I must get out of debt. I said, well, the dollar is debt. You know, US bonds are debt. Person has no financial education. And then another thing is that, you know, Dave Ramsey, he's a big famous guy here, he says, well, if we don't borrow money, the economy stops. Exactly. It runs on debt.

[Carl Davidson]

Yeah, we need debt.

[Robert Kiyosaki]

Yeah, we need debt. So, you know, I just had a piece of property in Northern Arizona here, I just refinanced it as we increased the value of the property. We didn't sell it. We borrowed out the equity. It was 1 million. And I just gave it to my oil friend. 1 million to buy oil. And then the war broke out. Iran going, thank you, God. The oil goes up, so I get richer. But when the price of oil goes up, the poor middle class get poorer. Life gets more expensive for all that oil going up. They can't afford chicken and eggs and all that stuff. So it's really a kind of a tragic time for millions of people because their information in their heads is old. Exactly. Job security, save money, get out of debt, invest in the stock market. That's old, old information. So, yeah, that's. That's what you're watching when you're training people to think differently, you know?

[Bruno Davidson]

Yeah. And even here, like, it wouldn't be as bad as America, like, in this.

[Carl Davidson]

Not.

[Bruno Davidson]

Yes, no, but what I mean is, like, we have, like, free education for the most part and stuff. Whereas I know over there, there's like really bad student loans. Like, people are just getting into so much debt and like. Like really specializing into a niche that could just be completely eradicated. So, you know, I really do feel for Americans and like, your medical expenses, everything, like, it's not comparable to Ireland. And I mean, like, it's bad in Ireland. We have a housing crisis. We have everything. But, like, I am aware that in America, it's just so much harder as well. And that's why it's even more important for people to really think about things and question their beliefs.

[Robert Kiyosaki]

You know, what I'm watching is the explosion of homelessness. You know, homelessness exploding. The same thing happened in Ireland.

[Carl Davidson]

Yeah, record numbers.

[Bruno Davidson]

Yeah, yeah. There's a lot of, like, obviously with the Ukraine and Russia war, we have a lot of Ukrainians here in Ireland. Like, there's been a lot of, like, modular homes built for them.

[Robert Kiyosaki]

My concerns is you look at this war in Iran. I mean, I went to Vietnam twice. It's war is terrible. But the price of oil goes up, so I'm getting richer. But as the price of oil goes up, we already have in America, very serious homeless problem. And the reason is that people have jobs, they just can't afford the rent or much less buy a house, or they can't afford the insurance, or they can't afford the electricity. So every time you print money, inflation goes up and the rich get richer, but the poor and middle class get poorer. Like, I Show this here $5 bill. $5. $5 bill. Zimbabwe, 10 million or 25 cents, which is worth more. And the reason is because they keep printing this stuff here and people still go to school, they save money, they get out of debt, they want job security and they're getting wiped out.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

Because we have no financial education, which is why we have a cash flow board game. So I was asking the question, is there any homelessness or things growing in Ireland too? Because it's exploding in America.

[Carl Davidson]

Yeah, record. Record homeless.

[Bruno Davidson]

You know, there always have been like. Like a housing crisis, they call it here in Ireland, but right now it's just through the roof. Like, people in their 30s still living with their parents. Like, they may be under a roof, but they're still technically homeless. There's a lot of whatever your. Your thoughts are on immigration, but there is a lot of immigration happening through the EU into Ireland. And there is a law that we have to house people that are brought into Ireland, but that doesn't apply to Irish people. So, yeah, it's very tough, literally here on the streets in Ireland. The weather wouldn't be great. Thank God we're coming out of winter for a lot of people. But there'll be a lot of homelessness, whether they're under a roof or they're not.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

So anyway, I just. I have fond memories of Ireland. I went there to play rugby. I played rugby in England. I played rugby at Blackheath, played at Twickenham, and that's my favorite sport. And Irish are just really strong this year for Irish rugby team. That's why I wear Hawaii Harlequin's rugby team shirt.

[Bruno Davidson]

We appreciate it. Thank you.

[Carl Davidson]

We'll get you an Ireland rugby shirt. We'll send one over.

[Robert Kiyosaki]

Oh, I would treasure it. I would treasure. I would treasure also do. The thing that I'm always amazed at when I teach is how people do their best to stay poor. They just stay poor because it's stuck up here. The game break kind of breaks, breaks that up. And yet people would rather stay poor. It doesn't make sense to me. And they know AI is coming. Yeah, they know. The national debt of America. I mean, America alone, the national debt is 39 trillion. They're printing a trillion of these every hundred days now in America. And they still save this when this is Zimbabwe dollar and I think this is the future of probably the euro and probably the US dollar and they still save this stuff. So what do you guys say to that? Because being from the Europe EU area,

[Carl Davidson]

one of the best ways to fight all of this is to actually get yourself financially educated and start accumulating as many assets as possible. Like get yourself in around the network of people, listen to people, you know, get onto the Rich dad radio show. Just surround yourself with people that have what you want and, you know, you'll grow that way. You'll just be a sponge to take it all in.

[Bruno Davidson]

I think a lot of it, though, Robert, what you're talking about is like fear. I think people are so fearful and they're just like so stuck on their core beliefs that they've had growing up and like, what's popular in the media and what the news outlets like, tell you. And you know, with the eu, it's so funny because a few years ago, obviously we had Brexit going on and, you know, everyone was like, oh, my God, the uk, they're crazy. Why would they have to want to do Brexit? All this sort of stuff. And then what's kind of transpired with the EU since then, I'm nearly thinking like, oh, God, like, you know, maybe we want to get out of the eu, you know, but like, you just, you don't really know what's going on. And it's like, who's actually controlling what and all that Sort of stuff. It is very kind of crazy over here as well, to be part of.

[Carl Davidson]

Yeah.

[Bruno Davidson]

Such a huge group. Obviously there's so many benefits to being in the eu, but also it's like how much control do we as a country actually have, you know?

[Robert Kiyosaki]

So, yeah, I've heard, I've heard Germany's in serious trouble because their price of energy is so high.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

If Germany's in trouble, Japan's in trouble because of debt, US is in trouble because of debt, and AI is coming along to wipe out jobs. Yeah. I mean, how people can just be complacent, do nothing. So that's what kind of concerns me the most. I think the most important thing is that it doesn't make a difference what your leaders do. Trump can do what he does, you can do what they do. You can still get rich no matter what they do. The price of oil goes up, you get rich. Price of oil goes down, get rich. It doesn't matter if you have education. So anyway, I want to make fun words because one minute left. What's. What's the final word from Ireland?

[Bruno Davidson]

It's like you always say, playing Monopoly, but for us, it's playing cash flow. Like we're really kind of like in our real lives trying to play the game and you know, it's completely transformed the way that we even literally turning our home into an asset. So we created an apartment at the home to pay for the house. It's itself. Yeah.

[Robert Kiyosaki]

Turn a liability into an asset.

[Bruno Davidson]

Yeah, exactly. And we would done that if it wasn't for you. So thank you so much and thank you for all. From all of the members of Cash Flow Club Ireland.

[Robert Kiyosaki]

Is that the best thing? Don't you have new friends too?

[Bruno Davidson]

Oh, 100%. Completely different conversations that we're having.

[Carl Davidson]

Like it's just new deals, new opportunities everywhere.

[Bruno Davidson]

But our network is completely different now than it would have been.

[Robert Kiyosaki]

All. All my friends changed, you know, as. Because I anyway from my family who their value system's different than mine, but my friends have the same value system because we all play the same game.

[Bruno Davidson]

Exactly.

[Carl Davidson]

Yeah.

[Robert Kiyosaki]

And that's the biggest difference. So I think your greatest assets, your brain, but also your friends and, you know, education. So I want to thank you all the way from Ireland, 10 years. I appreciate it. Thank you for teaching. But as you know, the more you teach, the more you learn, right?

[Bruno Davidson]

Yeah, 100%.

[Carl Davidson]

Thank you.

[Bruno Davidson]

Thank you so much.

[Robert Kiyosaki]

So thank you, Carl and Brauna Davidson. And we'll be right back for Rich Dad's final words. Welcome back. I want to thank the people from fine people from Ireland and the Cash Flow Club. And I'll just reiterate it, we created the Cash Flow game back in 1996 so people could teach people. You bypass the school system, but the benefits are you don't really care which way the economy is going because you'll get rich. You don't care what your politicians are doing because you're still going to get rich. And most importantly, you meet great friends. And so my friends have totally changed from the old friends I used to have who were clinging through job security, trying to save money, thinking that Republican or Democrat would make a difference in office and worried about Trump, Trump psychosis and all this other stuff. It really doesn't make any difference except what you have behind here. So I want to thank you all from our fans from Ireland. I appreciate you guys, all that and thank you all for watching the Rich dad radio show. Thank you.

[Commercial Narrator]

This podcast is a presentation of Rich Dad Media Network. You know what's wild? Most people are still overpaying for car insurance just because it's a pain to switch. That's why there's Jerry. Jerry's the only app that compares rates from over 50 insurers in minutes and helps you switch fast. With no spam calls or hidden fees, drivers who save with Jerry could save over $1,300 a year. Before you renew your car insurance policy, do yourself a favor, download the Jerry app or head to Jerry AI Libson. That's J E R R Y AI LibSync.