Your Wealth Is Being Stolen – Here’s How

Summary

Rich Dad Radio Show: "Your Wealth Is Being Stolen – Here’s How"

Release Date: January 1, 2025
Host: Robert Kiyosaki
Guest: Jarrett Teach, Strive Media Network

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Introduction

In this pivotal episode of the Rich Dad Radio Show, Robert Kiyosaki delves into the alarming issue of how American capitalism and personal wealth are being undermined by shifts from shareholder to stakeholder capitalism. Joined by Jarrett Teach of Strive Media Network, the discussion unpacks the consequences of these shifts on pension plans, retirement savings, and the broader economic landscape.

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Shift from Shareholder to Stakeholder Capitalism

Key Discussion Points:

• Definition and Impact:

  • Shareholder Capitalism: Focuses on maximizing returns to shareholders, the true owners of a company.
    • Jarrett Teach (03:37): "A corporation's job is to return as much capital to the shareholders, the true owners of their company as possible."
  • Stakeholder Capitalism: Expands the company's responsibilities to include all stakeholders, such as employees, customers, suppliers, and even broader societal and environmental concerns.
    • Jarrett Teach (03:37): "A company needs to return as much capital to their shareholders, but also take into consideration every person that touches their company as a stakeholder."

• Historical Context:

  • The divergence began in the early 1970s with Milton Friedman advocating for free markets and shareholder primacy in the U.S., while Klaus Schwab introduced stakeholder capitalism in Europe through the Davos Manifesto.
    • Jarrett Teach (05:13): "Milton Friedman... based his belief in free markets and shareholder capitalistic values... Klaus Schwab... is in favor of stakeholder capitalism."

• Performance Implications:

  • Over the past four decades, U.S. shareholder-centric indices like the S&P 500 have outperformed European stakeholder-focused indices (e.g., Euro Stoxx 600) by approximately 3.45% annually.
    • Jarrett Teach (05:13): "You'll see an annual outperformance of about 3.45%... if we're serious about retirement in the United States, we have to get back to shareholder capitalistic values."

• Consequences of ESG and DEI:

  • Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) initiatives, while initially well-intentioned, have been co-opted as political tools that erode shareholder returns.
    • Jarrett Teach (06:37): "ESG and DEI... have been hijacked as a Trojan horse for a lot of social political events that are harming companies."

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Impact on Retirement and Pensions

Key Discussion Points:

• Erosion of Retirement Savings:

  • Shift to stakeholder capitalism has led to mismanagement of retirement funds, diverting them from shareholder interests to broader social agendas.
    • Robert Kiyosaki (11:30): "They've gone from shareholder to stakeholder, which I call Marxism or wokeism. And the American workers are getting screwed again at the top."

• Case Studies:

  • Southwest Airlines: Despite a poor financial performance in 2022, executives received substantial bonuses for achieving ESG goals, leaving shareholders to absorb losses.

    • Jarrett Teach (12:36): "Southwest canceled over 16,000 flights... their carbon emissions dropped and so their C-suite executives received bonuses for hitting their ESG metrics while shareholders were left holding the bag."

  • Starbucks: Expansion plans in politically unstable regions like China were undermined by geopolitical tensions, affecting shareholder value. Additionally, executives' bonuses tied to DEI metrics were reduced following legal setbacks.

    • Jarrett Teach (13:53): "When Russia invaded Ukraine... Starbucks shut down over 700 stores. Their CEO had a 10% kicker bonus tied to DEI metrics, which they later reduced to 3%."

• Consequences for the Middle Class:

  • Middle-class workers, represented by Kiyosaki's father, face diminished retirement prospects as asset managers prioritize social agendas over financial returns.
    • Jarrett Teach (07:46): "Asset managers are taking my retirement dollars and pushing their pet projects in these boardrooms."

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Strategies to Combat Wealth Erosion

Key Discussion Points:

• Education and Awareness:

  • Strive Media Network emphasizes the importance of educating the public about the detrimental effects of stakeholder capitalism and advocating for a return to shareholder primacy.
    • Jarrett Teach (16:15): "We're pushing back against the public being left on the hook for these policies. Educated folks are starting to rename ESG or DEI to dissociate from their politicization."

• Regulatory Action:

  • Advocacy for legislative measures to ensure that investment policies adhere strictly to shareholder interests, limiting the influence of social and environmental agendas.
    • Jarrett Teach (17:51): "Congress or SEC could pass laws requiring asset managers to vote in alignment with their investment prospectus percentages."

• Investment Choices:

  • Encouraging individuals to seek out investment options that prioritize shareholder returns and to be vigilant about how their funds are managed.
    • Jarrett Teach (30:22): "Ask for experience in our industry when working with a financial advisor and hold them accountable."

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Notable Quotes

• Robert Kiyosaki (03:17): "I fought communism, but communism has taken over America."
• Jarrett Teach (05:13): "Shareholder capitalistic values have proven to be winners in our country compared to stakeholder capitalism."
• Robert Kiyosaki (06:57): "Financial planners are some of the most stupid people I've ever met."
• Jarrett Teach (24:06): "Scope three requires companies to account for carbon emissions even from individual actions like a delivery person's car, which is impossible to manage effectively."

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Conclusion

The episode underscores a critical turning point in American capitalism, highlighting how the shift to stakeholder-focused policies is undermining shareholder value and eroding retirement savings. Robert Kiyosaki and Jarrett Teach advocate for a revival of shareholder capitalism to protect individual wealth and ensure the financial security of current and future generations. They call on listeners to become informed, challenge existing financial management practices, and support initiatives that prioritize shareholder interests over politicized agendas.

For more insights and actionable strategies, listeners are encouraged to visit Strive Media Network and explore their resources on corporate governance and investment practices.

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Further Resources

• Strive Media Network: strive.com
• Book Mentioned: Who Stole My Pension? by Robert Kiyosaki
• Protect Your Wealth: protectwithrobert.com | Call: 844-376-2378

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This summary aims to encapsulate the critical discussions and insights from the episode, providing a comprehensive overview for those who have not listened to the full podcast.

Transcript

[Robert Kiyosaki]

This is the Rich Dad Radio Show. The good news and bad news about money. Here's Robert Kiyosaki.

Hello. Hello. Hello, Robert Kiyosaki. This is the Rich Dad Radio Show. And we have probably, I would say, I'm guessing what all my experience, all the years I've been doing this program, the most important show of all. And our guest today is Jarrett Teacher and Jed, you are the. You meet the nicest people at Hillstone's bar. So I'm there standing at Hillstones talking to my friend Sal DiCiccio, and he introduces me to you. And I had no idea who Sal, I didn't know who you were, so I got your data. I'm going holy mackerel. So really quickly. What interested me is that you were. You work with Vivek Ramase. How do you pronounce? His name is Martin Kiyosaki.

[Jarrett Teach]

Vivek Ramaswamy. Yep.

[Robert Kiyosaki]

And did you work with him?

[Jarrett Teach]

Oh, yes. He's a co founder of our asset management group. You know, we had the opportunity to speak on a weekly basis, for the most part in meetings, et cetera, until he had the opportunity to have his message pulled up by the gop. And he's incredible human and obviously have the opportunity to run for president. And now we see what he's doing with Elon Musk. And so since he ran for president, I haven't the opportunity to speak with him as much. But he's certainly friendly to our firm and a lot of folks at the office still see him.

[Robert Kiyosaki]

All I heard was that he was a billionaire and now he and Trump and Musk are working together. But until I met you, Jared, I had no idea who he was or who you are and what you guys are working for. So we're all kindred spirits. Just my background here is this is a Marine Huey helicopter. And I flew these for the US Marine Corps in Vietnam. And so the reason this is important is because some of you know who followed Rich dad is I don't speak out against it, but I don't use financial planners. You know, I'm a capitalist. I can put my own deals together. I've taken companies public and things like this. I stay independent, should I say. And the game behind me, Jared, is how I teach capitalism. And it's the only game that it's basically Monopoly with a financial statement is what it is. And as you know, we have no financial education schools. My friend Sal, he introduced me to Jared, and Jared's telling me about Vivek. And Vivek is on Trump's staff. And Trump and I wrote. Written two books together. And so I was more interested in Vivek. Now I'm more interested in Jarrett, because what you sent me here is some of the most disturbing paperwork I have ever seen. Like I said, I fought communism, but communism has taken over America. So I want to quickly go into as best I can. You're talking something about shareholder. Shareholder capitalism versus stakeholder. Would you mind going to that? And how this whole thing shapes up under VEC and your funds strive.

[Jarrett Teach]

Yeah, I'll be as brief as possible. So first off, we got to give a definition behind shareholder and stakeholder capitalism. So shareholder capitalistic values are exactly what we know American capitalism to be. A corporation's job is to return as much capital to the shareholders, the true owners of their company as possible.

[Robert Kiyosaki]

Right.

[Jarrett Teach]

Stakeholder capitalism is this. It is, yes. A company corporation needs to return as much capital to their shareholders, but also it needs to take into consideration every person that touches their company as a stakeholder. So for instance, Chevron, they would not only have to pay the shareholders back, but they would also have to make sure that the H Vac gentleman in Denmark or the lawyer in Paris or the farmer in South Africa, whatever the case might be, are all squared away and not impacted by what Chevron does as a company. And whether you believe that holder.

[Robert Kiyosaki]

That's stakeholder.

[Jarrett Teach]

That's stakeholder.

[Robert Kiyosaki]

Stakeholder, right.

[Jarrett Teach]

And you know, whether you believe the value system for the person in Denmark, Paris or South Africa is correct or not is not the question you should be asking. It's how much money are you a Chevron spending to make them happy? Because that reduces the capital that you get back to the shareholder in the United States, a shareholder, you know, we go, we have laws, it's called fiduciary, solitious law. And you have to return as much as you can and do what's best and put them first, since they are the owners of the companies.

[Robert Kiyosaki]

And you sent me this here, and this is. That's shareholder and that's stakeholder. So another thing, I didn't know all this, Jared, until I started reading your. Your documents here. But this comes from that. What's his name? Klaus Schwab of Davos.

[Jarrett Teach]

Yeah. So where you really saw a divergence take place between the United States and European Investing is early 1970s. We follow the United States. Milton Friedman, who won a Nobel Prize for economics based on his belief in free markets, but also shareholder capitalistic values. On the other side is Klaus Schwab, who wrote the Davos manifesto in 1973 and is in favor of stakeholder capitalism. And what you saw was Europe started going down that road. So if you actually look over the last 40 years or darn near there, what you can see is shareholder capitalistic values. Let's use the SB 500 versus European stakeholder capital catalyst values that mean the Euro Stoxx 600. You'll see an annual outperformance of about 3.45% annual, which is incredible when you start compounding that. And like we spoke about earlier, if we're really serious about retirement in the United States, we have got to get back to shareholder capitalistic values and push away from ESG and dei who when it first started might sound like a wonderful idea. Everyone wants equality, everyone wants a better earth for their children. But at the same time it has been hijacked as now as Trojan horse for a lot of social political events that are harming companies.

[Robert Kiyosaki]

Right. So the shareholders. It's like if I'm an investor in a company, I'm being ripped off by the fund managers and things I don't is beyond me. It's. This to me smacks of simple terms Marxism. You know, where you. It's not capitalism anymore, it's Marxism.

[Jarrett Teach]

And that's where we need to return it to capitalism. You know, that's, that's why I joined strive. You know, I'm from Kansas originally. My father, he didn't graduate high school. He's your blue collar middle class American. And what takes place is he asked me what I'm doing for he, I'm telling I'm working for Strive. And he's like, how do you help me with retirement? I explain what's taking place. And since he goes, let me give it straight. Every time that there's a tax change in this country who gets kicked in the teeth? It's the middle class. I'm a blue collar worker, I'm being told to save, invest for retirement. And then when you tell me to save and invest for retirement, I find out these asset managers are taking my retirement dollars and going pushing their pet projects in these boardrooms. Yeah, that is correct.

[Robert Kiyosaki]

So they're stealing retirees or the employees.

[Jarrett Teach]

Retirement because of the SEC in 2001, after Enron, when you put your money with a money manager, you forfeit your proxy vote to that asset manager, whether it's blackrock, State Street, Vanguard, et cetera, the entire industry. And so they do have the ability to vote what they believe is best for fiduciary's entre Flat law. What is interesting is how that game has changed. And so a decade ago, less than 1% of C suite executives and board members had some sort of their compensation tied to ESG, DEI, social political agenda. Today, 75% of them do. When it comes to the companies within The S&P 500, that is what is concerning. Because it's not a play for climate change or improvement, I should say, or play for equality. It is a green play so they can hit their bonuses, and that is at the expense of shareholders.

[Robert Kiyosaki]

So I'm going to keep it in simple rich dad terms. They turn, they went woke on us. And as they say, you go woke, you go broke. But you also said that this was stakeholder is more European retirement or financial planning, and shareholder is more American. And you're saying that America has shifted from shareholder to stakeholder, which is a European and is. I mean, you know, Volkswagen's closing two of its factories, Europe's in serious trouble. And it's, it's because of this guy, Klaus Schwab, and WOKE capitalism that's now taken over America. Is that big. Basically, I'm putting in my vocabulary, yes, that is correct.

[Jarrett Teach]

This really started to kick off after 2008 when there was a group called Occupy Wall street. And they were upset. They don't know why they're upset, but they kind of had a reason why we bailed out the banks and really didn't have a backup plan what they should be doing with those dollars. And so Wall street had a really big black eye and they wanted to prove their image. And so they're able to do that through some European movements, through esg. And so then you started to see, oh, there's money to be made here. And it started just to tick up, tick up, tick up. And then about a decade ago, the state of California and state of New York pension plans said, hey, if you want us to invest in your asset management, your mutual fund or your whatever, you need to sign the CA 100, the Climate Act 100. Fast forward a decade and here we are. And so it's pretty interesting. And you keep on pulling on a string and you'll see where it all goes.

[Robert Kiyosaki]

Okay, so again, using my vocabulary, what I call woke is called esg, Environmental, Social Governance. And then D E, I, I changed the letters around to die. That's Diversity, Inclusion, Equality, Equity.

[Jarrett Teach]

Since the Supreme Court struck down affirmative action due to the fair admissions versus Harvard case in 22, what you found is even though that's in academia, it has now come to corporate America. And lawsuits are up numbers between 10 to 15% from what I understand with current employees of companies saying, hey, I was passed over from this promotion because the pigment on sky now what are we doing here? And so now there's a, there's a ramification that's taking place or those lawsuits coming up because they enacted dki. And so that'll be really interesting to follow over the next five or ten years.

[Robert Kiyosaki]

So basically this, I wrote this, I'll send you a copy of this book who stole my pension? But the American person, the American worker who thinks they're in a capitalist society, there's been a shell game that's been shifted. They've gone from shareholder to stakeholder, which I call Marxism or wokeism. And the American workers getting screwed again at the top.

[Jarrett Teach]

And that is evident by In 2019, 181 United States CEOs signed at the Business Roundtable a pledge to move from shareholder capitalistic values, which we've always known as a winner in our country, to stakeholder capitalism. And that is infuriating.

[Robert Kiyosaki]

And your company is called Strive, but you sent me this paperwork here. It's Southwest Airlines, McDonald's and Starbucks. I mean you can't get more American than that, but you're paying Southwest. McDonald's and Starbucks are ripping off their workers.

[Jarrett Teach]

So let's talk about Southwest really quick because that's a really interesting story and how we work within the boardrooms with clients dollars to push back on these agendas. And so in 2022, Southwest Airlines had arguably the worst year for any American Airlines in history. Their stock price down between 25, 40%, et cetera, during the holiday season in 2022, I got the last flight, three days delay from San Diego to Denver on Christmas Eve. A lot of folks didn't have the opportunity to make their flights. They spent the holidays or Christmas in an airport. Southwest canceled over 16,000 flights. They've been told for years you need to build out a better infrastructure from a tech standpoint. And they refuse to do so. But what is interesting is because they canceled 16,000 flights, their carbon emissions dropped and so their C suite executives and others received bonuses, large bonuses for hitting their ESG metric while the stock was floundering and shareholders were left holding the bag.

[Robert Kiyosaki]

They got a bonus for hitting esg, Environmental social Government. But capitalism took the hit. They were not profitable.

[Jarrett Teach]

Correct. You know, another story in that is Starbucks. So Starbucks, when they filed their annual report in 23, they use a ch, they use the name China approximately six times. But they want to from I understand build 9,000 stores like 2025 in China. Well, there's a lot of geopolitical risk. They are adversary. And what's interesting is when Russia invaded Ukraine in early 2022, Starbucks shut down over 700 stores. So if China decides to bring a military into Taiwan, are you going to shut down 9,000 stores? And how's that going to affect the shareholder? But they don't want to talk about that. Additionally, their CEO had a 10 kicker bonus to DEI metrics. And we had a conversation with them saying, hey, you saw what just happened in academia. Supreme Court just shut down Affirmative action. This is coming to corporate America, so you'd better be ready because there's gonna be some issues here. And they didn't particularly like us for that. And what, what ended up happening is they dropped that to 3%. They see the writing on the wall that there's a reversal here.

[Robert Kiyosaki]

So, so you guys talked to Starbucks because they're hitting their DEI I call die for die metrics. But they were basically, I mean, what they're doing is horrible. I mean, to me what happens, what happens to America is capitalism is leaving us. I mean it left us to go to China. And when I see, you know, when I see buildings emptying out and all that, to me that's capitalism leaving. It's the same thing that's going on today in Europe. I think Volkswagen is shutting down one or two or three of their factories. Capitalism's leaving. And it goes back to Claus Schwab and the Davos thing and all this. We've got to take care of the shareholder. So that's why with this book here, which I'll send you, is who Stole My Pension? I'm of that age group right now, is they can't afford to retire. You know what I mean? There's no money there for them. So it goes basically, they just ripped off their pensions. And the American worker sits there with a little 401k saying, I'm protected.

[Jarrett Teach]

Yeah. And you know, that's a huge issue when you look at a lot of these pension plans, whether it's a county or state, you know, it's, you have wonderful folks that work at CalPERS, as portfolio managers, analysts, et cetera, but they've got to follow their investment policy statements, what they're told to do, where they can invest. And so when politicians have the ability to form those investment policy statements, listen, a politician sometimes probably can't spell esg, but by God, they know and give them a vote. Well, that's a problem. And so, and we're again, the public's left on the hook for. So it's something that we are pushing back against. And the first thing that's interesting is we've educated a lot of folks, and so we are seeing this kind of curl. People are starting to rename ESG or dei. You know, Larry Fink was in the news earlier this year saying, I'm never going to use those phrasings again because it's become political. I was like, how'd that happen? So he wants to sit there and maybe we use Constitution's capitalism. So you do play whack a mole. You're also hearing, hey, they're starting to wind down their votes on ESG and DEI in these boardrooms. That's simply not true. What's happening is if you already passed it and voted it through, it's not going to be on the ballot the next year. You're not going to vote for it again. So now the second stage. The first stage was to educate folks. The second stage, Robert, is incredibly important. It's going to take a while is to get people to go ahead and admit they're wrong, repeal these votes, put it back at a shareholder proposal on these boards and vote it out. And that's going to take some doing.

[Robert Kiyosaki]

So, Jarrett, before going further, how do people get more information from you that you're allowed to put out? I mean, this, this stuff is dangerous. You know, oh, my God.

[Jarrett Teach]

I would highly Recommend going to strike.com, reading our white papers, watching our videos. There's even a. There's even a portion on corporate governance showing how we vote. You can type in any ticker that we have some sort of investment in. And you can see how we voted. You're not going to see that. Other websites, it's our goal to be able to pull back the curtain of what's taking place in these boardrooms. That is the number one goal. So strivefunds.com, strive.com we certainly have different investment options. We love to have a conversation.

[Robert Kiyosaki]

So we come back. We'll be right back. We'll take a quick or short break. But I want strive.com you know, like the saying goes, go woke go broke. Europe's going broke. We now have shareholder or stakeholder capitalism in Europe, but it's now in America. And the reason I wore my flight jacket today is because, you know, I flew. I flew these in Vietnam, and my classmates went to fly for United Airlines. And you know what happened to their pension? It got stolen, too. And my and my classmates thank God I didn't stay in, but they don't have a pension. And these, these are Marine pilots, Air Force pilots, and all this. They, and then they all flew for the airlines and their pensions got stolen. And so that's why with this book here, it's called who Stole My Pension With Ted Siedel. I'm talking here about the end of capitalism. This is when they steal capitalism and they're stealing it through our pensions, which is why I wrote this book here, who Stole My Pension? So we come back. Jared, I want you to wake people up. You know, I talked to people and they said, what's going to happen? Like, I'm an old guy. I'm 77. What's going to happen when your dad moves in with you because he's got no pension and people don't know that it's coming? So we come back. We'll be right back with Jared. Teacher, here's what strive and please go to their website and read what they have to say. It's disturbing. We'll be right back.

[Unknown]

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[Robert Kiyosaki]

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Welcome back Robert Kiyosak with Rich dad radio show. Today I think we have the most important Rich dad show ever. But it's about how our capitalism, our wealth is being stolen by our financial planners or the financial institutions of our country. And that's why I wrote this book here. Who stole my pension is because my generation, it was in 1974 that the 401k came out, was called Employee Retirement Security act and all this stuff. But as a pilot, my classmates had their pensions stolen where they're flying for United and things like this, they don't have any pensions. And so if you're an old guy like me, you don't have any pensions. But if you're a younger person, your dad and mom may be moving in with you when their pensions are gone. But we're talking about one of the biggest cash heists going. So once again Jared, let's take it from there. What's a stakeholder which is European and shareholder which is American and European capitalism is in trouble. Germany, France, England, they're gone.

[Jarrett Teach]

Yeah. A perfect example of how this is being utilized is actually Chevron. We talked about it earlier. So Chevron had self inflicted wounds take place within their boardroom and they self imposed scope 3 emissions. This is a perfect example of how stakeholder capitalism works. So stake three or excuse me, scope three is very interesting. So what it is is to do scope one first. So if you're an oil company and you drill and you make a mess, I hope you get fined to oblivion, whatever you can legally be Fine, you should because you made a mess of our beautiful work. Scope two is all right. You drilled, you did just fine. But you pass it down the chain. You, you, you sold your oil down to midstream. Well that midstream folks, they made a mess with your oil. You know, I still think that if Chevron was in that case, they should be responsible for some of that because who, what type of mavericks are you signing contracts with that are not safe? But Scope three is insane. SCOPE three says that you've got to capture enough carbon to be carbon neutral. Well, SCOPE three also says that your pizza delivery person that goes and fills up the gas tank at Chevron gas station somehow shut on the company is responsible for that person driving a 1998 Civic and allowing carbon to go into obviously the air. And that's impossible. But it is a way to fine and fee these corporations to death. And that actually came from that whole Scope three initiative started with an activist group from an H VAC gentleman in Denmark. And so that is that Scope three stakeholder castle values that push down and reduce the return that the companies can give their shareholders.

[Robert Kiyosaki]

Shareholder gets screwed. Screwed because of Marxism. And the reason like we had I read this book here with by our Buckminster Fuller. It was called the Grunch of Giants. And it's how our cash is stolen. How wealth is stolen via our money. It's our book. Mr. Fuller created the geodesic dome. So he kind of tweaked me. And the reason for years I don't trust financial planners at all. Anytime they tell me don't worry US bonds are safe, I said there's nothing safe out there. So I became a gold bug, a silver bug. And today I'm a bitcoin bug. Because it's something the US government cannot print. I just stay away from. I've never Jared. I've never trusted those bastards. So when I met you at Hillstones, I'm going, oh my God. And then I read your data. It's even worse than I thought. And I'm talking to my friend here, Ted Siedel, who stole my pension and CalPERS. I mean the shareholders of CalPERS are asking him to go in to investigate California Pen. Would you mind saying who CalPERS is for people who met not heard from.

[Jarrett Teach]

The is the California Pension Retirement System. It's pretty straightforward. It is your public workers in the state of California. So your your police, your fire, your public safety. That's just a. A few but it's huge. It's massive. It is the largest pension program in the United States.

[Robert Kiyosaki]

Yeah. And so when I met Jared, you know, the other night, we're talking about Vivek, and I said, well, is Vivek want to hang out with Trump because he's going after the same people.

[Jarrett Teach]

Yeah. He is the smartest human I've ever had the opportunity to meet and work beside or work with, I should say. He's above me. What's wonderful is his ability to connect with people. He asks real questions and you don't have to agree, you don't have to be odd or mean about it. Let's get to the root of the problem and figure it out. And there is a solution to this. Capitalism is not dying. We're going to fix it. In fact, it is no different than the SEC and government fixing what happened with Enron and forcing asset management to take on the voting responsibilities. They can do the same thing right here, right now with the green smuggling issue. We talked about green washing in the past. Green smuggling is the big one. And that's how you can change this issue. Where frankly, a large asset manager can take, let's say they have 5% or 10% of their overall assets and impact investing products ESGDI centric. And then if you don't want that, you can still invest with that asset manager that a non. Just a regular, I don't care, a balanced fund or a growth fund. Well, what happens is you think that the 90, 95% votes here go that way and it's just straight for fiduciary best, whatever the company can do. And the 5 or 10% vote for climate issues, whatever. No, what's happening is all the money is going into this and then the votes are going out the same. And so Congress or SEC could easily pass a law saying, you know what, you've got to vote with what your prospectus follows for those percentages.

[Robert Kiyosaki]

You're supposed to vote for the shareholder, not the, the pizza delivery boy. So let me ask this question. If I've never trusted financial planners, you know, I just don't trust them. You get, you get, you come up, you become a financial planner in 70 days. I mean, Jared, how long have you been studying? How long have I been studying? You know, here's another friend of mine, Jim Rickards. He wrote Money GPT. He's talking about how AI is going to bring down the banking system, but it's really the bond system. And every time these financial planners tell me, oh, it's safe as U.S. bonds, I'm going, you got to be kidding me. China Just stopped buying bonds, you idiots. Financial planners are some of the most stupid people I've ever met my whole life. They mean well, they mean well, but in 70 days they're planning your life for you and they don't know anything. So what would you say? How would a person with a 401k, let's say, or an IRA, what can they do to check back on their financial planner? What, what, what would you say to them?

[Jarrett Teach]

Yeah, yeah. I would certainly have a conversation with your financial planners. And not all are created equal. There's some really good ones out there, but there's. I know some that also to your point, are very young and they have an experience that this is what's beautiful. And what if I'm the public, I find it so interesting in our particular industry, the finance industry, where you have, you can have a large iq, you can go to the most wonderful, prestigious university, but if you haven't had the experience and actually watched how this plays out and watched an 08 or a 98 or whatever the case might be, it's something that, this is a really unique. I'd ask for experience in our industry when you're working with a financial advisor, more so than anything, and then be on their butt. They're better for it. So that's my two all Coinside vehicle right out of the gates.

[Robert Kiyosaki]

Yeah. So, Jared, you know, that's great information. I also think now I understand why Trump is pushing bitcoin. He's now the bitcoin president. His son Eric and I will be talking teaching together soon. And Eric's saying that bit. We're not saying this. I make no recommendations. But Eric Trump was saying, you know, bitcoin is going to a billion. But I think it's the influence of what Donald Trump knows is going on inside the retirement industry. And you know, I, I think I'm, I'm, I feel so blessed to have met you the other night, you know, because I didn't know any of that, any of this stuff. I didn't, I didn't know how bad it was. I knew it was bad, but not this bad or they could be that corrupt. So I went out. I don't, we don't make any record. We're not saying buy bitcoin and all that. Although I like this stuff. I just like it because the government can't print it. I stay away from my government. Once again, could you explain how people can get more information from your organization?

[Jarrett Teach]

Absolutely. We encourage everyone to go to strive.com or strivefunds.com. either one will work. Strive.com will have a little more in regards to what we do in a corporate governance arena. And what I mean by that is show you how we're using your dollars in these boardrooms and making sure that it is being voted correctly with these proxy votes. And so that to me is instrumental in everything we stand for. Get back to Milton Friedman's Nobel Prize winning formula of shareholder capitalistic primacy and.

[Robert Kiyosaki]

Milton Friedman vs. K. Schwab of Davos.

[Jarrett Teach]

Yes.

[Robert Kiyosaki]

So, ladies and gentlemen. So Jarrett, I like your name, Jared Teach. You taught a lot of people. There's a lot more to learn. But I just want to summarize it simply. You go woke, you go broke. So Europe, European is stakeholder capitalism. They're going broke right now and America's going to go broke too. So that's why Vivek is with Elon Musk and Donald and Eric Trump, my friend and Don Jr are promoting Bitcoin. You got to get away from Wall Street. So Jared, thank you. Let's do it again because there's so much more to learn. So thank you very much, Robert.

[Jarrett Teach]

Thank you for having me.

[Robert Kiyosaki]

Thank you. And we come back. I'll go quick summary. So again, we'll be right back. Jarrett, thank you. Thank you.

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So welcome back. Robert Kiyosaki. I want to thank Jared Teach. You know, strife, this is a subject near and dear in my heart who stole my pension? And the reason this is important to me is because my poor dad lost his pension also and it sets the whole family up. So what Jared Teach was talking about is with he's with Vivek and Vivek and Sean and his name, Elon Musk and Trump are in Washington, D.C. now trying to going to straighten this whole go woke, go broke thing up. But we've had what Jarrett did and his information Please subscribe to Information is basically Marxism has invaded our pension system, which is why I wrote this book here, who Stole My Pension. So if you're an old guy like me with a 401k or an IRA, I would look into it. Or if you're a younger person with a parent counting under 401, this is serious stuff because America is broke enough, but we don't need to have go woke and go broke on top of it. So thank you for watching the Rich dad radio show or tuning into it. And I'll thank Jarrod, Teach and Strive. And let's go Donald Trump, Elon Musk and Vivek. Let's straighten this country out.

[Jarrett Teach]

This podcast is a presentation of Rich Dad Media Network.