Why You’ll Never Stop Working for Money - Andy Tanner, Tom Wheelwright, and John MacGregor

We all define retirement differently. For most, it probably involves an island somewhere, a hammock, a good book, and a glass of wine sitting next to you as you relax for the first time in a long time. In this episode, paper asset experts discuss why for so many people across the globe this is a dream they’ll never realize, and how the 401(k) was never designed to make you rich.
As Tom Wheelwright, Rich Dad Advisor on taxes says, “These government-qualified retirement plans provide temporary tax benefits, but they’re also the reason most people will never be able to stop working for money.”
Andy Tanner a Rich Dad Advisor and the author of “401(k)aos” and “Stock Market Cash Flow” says “If you plan to retire poor, the 401(k) is for you.”
Hosts Robert & Kim Kiyosaki and guests Tom Wheelwright, John MacGregor and Andy Tanner discuss the tax advantages and disadvantages of paper assets like stock, bonds, mutual funds, and 401(k)s.
Tom Wheelwright: www.wealthability.com
Andy Tanner: www.thecashflowacadamy.com
John MacGregor: www.johnmacgregor.net
www.richdad.com/
Facebook: @RobertKiyosaki
/ robertkiyosaki
Twitter: @TheRealKiyosaki
/ therealkiyosaki
Instagram: @TheRealKiyosaki
/ therealkiyosaki

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The amount of time you spend believing we can’t is more than enough time to learn how you can

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[@XJ290]

I just woke up in my early 30s. When you realize your whole life has been basically a game of money nobody taught you...it’s frustrating. But Rob and Rich Dad have taught me so much so far. I’m getting game plans together. Adapt, improvise and overcome. “Watch what the idiots are doing, and do the opposite” - Rob Kiyosaki Thanks Rob 🤘🏻🇺🇸

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Education means nothing without financial education!

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[@SW-fm6up]

I love Roberts Kiyosakis outspokenness! He always makes me laugh!

[@emilyfranklin8190]

Stock can drop from top to bottom and still be a 60 bagger. All this in 10y. investing is a very long journey where our temperament gets tested. have to have the capacity to suffer for long periods. have lived through the examples above, naming the stock today is pointless.

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proper research, good analysis is what you need to make profit in this constant market.

[@Jme---]

I have tried investing but got discouraged by the constant fluctuations in price.

[@Mcdd7-_-]

@@Jme--- That wouldn't bother you or be a problem if you let a coach guide you but bear it in mind that price fluctuations is part of the market but using coach makes the difference.

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@@Mcdd7-_- I find myself in similar situation but mine is that i really don't know when to take profit or hold , but have you worked with a coach? what is the experience like and how can i get a good one?

[@Mcdd7-_-]

@@christinadixon6974 "Freda Lynn Johnson" is the coach I'm quite familiar, I cant disclose much but I have been working with her since July 2020 and she has helped grow my portfolio by 400%. To connect with her you have to search her name on the web that way you can connect with her on her webpage.

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If you want to be rich and happy don't go to school - Robert Kiyosaki

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Most people dont go to school fail, only very few success. I would rather be rich with my bachelor than without it.

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@@phamthang89 in no school around the world will teach you how to make money & be reach, and no school will teach you the real life. In school is just theorethical !!!

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Let's make the word Autodidact more popular!

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Did you see how tactically Robert extinguished the fire between John and Andy. Robert is an emperor

[@rdobsoni3598]

Cashflow Quadrant : One of the best financial books of all time (I was introduced to RDPD in Grad School )! Enjoyed the show ... everyone made valid financial points. At least each panel member agreed on one common enemy ... Financial Illiteracy. Recalling an old proverb: it doesn't matter if you are a Lion (B&I) or Gazelle (E&S)...when the sun comes up you better be running (running towards financial enlightenment).

[@thomaswilliams7927]

Looking forward to it! Thank you for all that you, your wife, and your fantastic team provide through the Rich Dad channel. 👌

[@nadineahlers2164]

I'm becoming more familiar with so many financial terms by listening to you all. Thanks so much!

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Right now property is overinflated.

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*The goal is to make money that makes money* NOT to work until you 💀💀💀

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If you love your work and do it by choice, you're double good ;)

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The Rich Dad Channel hi Rich dad ,yes I'd love to know too please tried recently but so stressful and didn't make much.bye

[@AnielleReid]

This was so much fun to watch! Love to see the playful banter and energy amongst you all!

[@KhamPisethOfficial]

Grateful for the program

[@TheRealMe333]

I love you guys! thank you for your advice helpin the "little guys" get ahead in this corrupt af world!

[@markroberts9577]

Great program that included multiple experts in their fields. Getting wealthy takes time and education

[@middlemanceo]

this is great advice. we have to learn the game

[@lewisjonesraglan5457]

Omg I love this discussion😍 love the banter, how learning should be👌 keep them coming guys

[@borisbuliak3626]

Must watch KZbin! Thank you guys! Can’t get enough free education, lots of experience.

[@riconguyen9050]

Thank you RD team.

[@Mav0585]

One caveat for pensions - military pension - don’t have to contribute - backed by the federal government. Also tax free in many states .

[@sergdancer22]

Thank You for Your discussion

[@homebaseincome101]

I learn so much from your channel. Thank you. I continue to gain a financial education. You and your wife are GREAT!

[@JLW667]

33:00 The I Quadrant 15:32 21:28 Roth 401k 18:52 Cashflow Quadrant Tax Bracket 14:59 Deduction 33:31 Stock Market Cashflow 29:34 The Debate 41:19 Kim's Point 35:45 UBI 31:32 Qualify 32:06 Non Qualified 33:12 Paper Assets Investor ( I Quadrant) 33:46 Professional Traders (Options)

[@elijahkillen9505]

Thank you so much for this series. I got Toms book and love it and I cant wait to get into Andy and Johns stuff.

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[@brandonjohnson7729]

This episode really open up my eyes ! This is what I need to learn. Hug thanks to you guys !!!

[@elizabethmorales5453]

Thank God I found you! Thank you for all your advice! Love the show! Keep up the good job!

[@smola55]

Such empowering content !

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I recently discovered your channel. Loved the show, thank you for posting it.

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Love all your videos! God Bless

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Wow 😳 this is the best ever!!!! Love it, thank you

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A Good Quote, The most dangerous person is the one who listens, thinks and observes

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I loved that you presented some raw differing perspectives.

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Make your money work for you and you'll never have to work for money.

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suckery suckery YOU GUYS ROCK! Thank you and blessings, thanks for showing up with a frontal lobes in tact... soooo refreshing!

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Thank You! 💚🙏

[@mariafalchetti3182]

Thank you for sharing, I love it and tge sense of humor....always hated economics...where are the rest of the series?

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I love it. I love old school ideologies going at it.

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Keep kicking butt guys! So fabulous that you tell it like it is. Such valuable information every show!

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Wow, this episode was FIRE!

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The debate got heated bro. The arguments where going from left to right.

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Excellent info!

[@Vitor108]

what a nice team! love these videos! Love from Portugal

[@eds8633]

Canadian here. My strategy is some RRSP due to company matching, Equities with dividends, and passive income from rental realty estate. Diversity.

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The arguments where flying from left to right, up and down and spinning in circles. The only debate I liked hearing.

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This is a great podcast! Am following this series through.

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Scammer! You will soon be busted. Hope you have enough reserve for law suit?

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Great discussion.

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Very nice and, as always, very informative content! 👍💪

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Fascinating I like this episode will watch it again and again 👍💯

[@gustavodilaudo4436]

Thanks Robert for always open our eyes and make us walk in the right way for our future

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I am very exciting to know that 👍

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Loved it.

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hello from Morocco , Marrakech love the show

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Good episode !

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Great show

[@TechOutAdam]

This one is going to be FIRE!

[@RobWilliams007]

I understand what you are saying about taxes in a 401k vs a brokerage account. I know the diff. But, if you have an IRA, I can do options and make money and never pay taxes until I am 72 and the interest/gains are outpacing the tax difference. Let me clarify one point: only if you understand how options work - I’ve been studying them for a year and still haven’t made a real trade, only paper trades, because I’m learning. Also, if I have a 401k and they match, that is free money that will grow if I have a good plan and keep my eye on it. I get what you are saying and I don’t disagree but it’s not all or nothing. We just bought our second rental and between you guys and Bigger pockets and Ken McElroy, I’m excited to buy more. I was going to leave it at 3 rentals but you have convinced me otherwise.

[@russwagner2]

We built Taxfence 3 years ago, always appeal your assessments.

[@FineTouchLLC]

I love these debates

[@theluckshow9617]

So much gold in this video. Thanks Robert

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These videos are great! I have read 6 of your books. Every since my brain have been recalibrating to a billionaire mind

[@RahaRo11]

Very entertaining show. Thanks.

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[@neeliem9495]

after listening to your podcasts in addition to others, i stopped contributing into my 403B with my current employer - i am at a point where i have started paper assets through stock investments and learning how to buy metals n possibly crypto looking into insurance policy along the lines of indexed universal life - can you talk about this topic please ?

[@belight5646]

I have elderly real estate client loss her SSI money, because her husband pass and his SSI is slightly higher then hers, so the government decided she take her SSI money, because they assume she does not need both income. Now her mortgage is reverse, almost underwater, God send her my way at the time. And I refuse to let her lose her home to the bank. Now she will at least make a couple thousands in her pocket. My things, what right do they have to take her 40 years of earning. I was furious once heard her story. I gave her half of my commission after all fees had been taken out. This is what our government. They only know how to steal from their peasants. Remind me medieval time.

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This is going to be a very important show !! So excited

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This guy is a bot report Ben Shapiro

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This show and crew always elevates my financial intelligence significantly. Thanks & Respects.

[@jeffdorris5321]

Nice work 🎆🎇✨

[@markmyjak7739]

In my opinion the 401(k) and other taxed deferred retirement plans are just toxic. Why? It's the big "S" word, sustainability. To me that's to most important. I'm constantly building my financial education. Thanks to Robert, his books, his Rich Dad Advisors and other people who have wealth. My financial life has been improving.

[@bostonblueguy]

Great video series. Can someone tell me what the 4 quadrants are that they are getting too?

[@_heatcheck_]

Please talk more about the Ligma Tax!!!

[@Putseller100]

Interesting, Robert says he does not know much about cash flowing the stock market, but it is from his book Retire Young, Retire Rich he has one chapter on leverage of paper assets. In that chapter he talks about options and producing income from the market. It is this book where I began my career in options

[@carloseduardonaranjosuarez5917]

Taxes and debt are one of the best leverage tools for getting affluently

[@yonmoore]

If I'm understanding the basics of a 401k, it means that on average, it will grow at 8% but the risk comes in to play when you're a few years from retiring and the market crashes hard and you can no longer retire.

[@butterbaybiscuits8694]

4 Asset Classes: *Businesses *Real Estate *Paper (Stocks/ETFs/Options, Bonds (Gov & Private) ) *Commodities

[@tisme4743]

So lovely that the info from you all is supporting us to wake up and take back our power.

[@sophiasmith5949]

What reason do they have to do that?

[@duneme]

I like it at when they talk about Retirement Funds!

[@mireyaposada2642]

Your book is display in its Spanish version. It would be great if you put subtitles in the Spanish language. It would be highly appreciate it. Our people need the good advise too. Please and thank you!!!

[@drachenhoehle]

Thoughts on 401K if you're job is matching 6%. Would you still do it up until you were in a position to start your business? That's 12% going into the 401K. You're automatically making 6%. Thoughts?

[@twymdsn8810]

What is a 403 ROTH? Is that a better plan than a 401 Roth?

[@penrodautorepair3170]

We’re can we get the full IRS tax code book. I’d love to learn knew stuff about tax hacks

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I pronounce you the most valuable channel

[@droptozro]

29:30 - Andy, read a book and a quick search for Dave Ramsey's study on Millionaires from 2019 showed the good majority of the 10,000+ millionaires made their money using the 401k. And if I remember correctly over 30% of those millionaires had household incomes less than $100k their entire working careers. So, Andy---facts matter. You do have to save enough clearly and do the math. Simple financial calculators and yes, financial education that can be learned in an afternoon can make one a millionaire if they'll invest in an index fund that covers the market like the S&P500 and leave it alone(meaning, don't jump in and out)--they'll be millionaires. But you do have it right that this will be the most highly taxed---that's why there's Roth Conversion ladders and other ways to avoid this. Some people don't need millions---because they recognize putting all your stock on finances for living is another type of stupid risk putting all your eggs in one basket. A dollar spent is an truly an inadequacy in US and our skills/knowledge to provide for ourselves. Really if there's no property taxes---there's no real need to earn a monetary income once all debts are paid. One can learn how to grow food, get a well(or a spring) and store the food in a safe manner. Then barter for things and avoid all taxes by using real skills. That's the best way we return to more of a decentralized economy.

[@countrysister700]

The 401(k) allows you to effectively increase your income due to employer matching IF you need to work for that employer anyway. The problem is when it becomes the bit in your mouth keeping you on the corporate treadmill. Just focus on your career and be disciplined to jump when you need to.

[@lordpopesthegangofgods8092]

Oh I hate paying taxes. I’ve been gradually learning how to legally not pay taxes or to significantly reduce them.

[@kimwarfield1587]

I guess you are forgetting about employee business expense. I used that for years to write off expenses.

[@theestallion818]

Is a very clear message to me i have to invest in myself and be my own boss and invest other way around simply will not work!

[@walisantana]

Greatttttttt show!!!!!!!!!!

[@thesession2619]

‪+1 (929) 560‑3448‬

[@tinachxx110]

A little less interruptions would be nice. I still don’t understand what the pros or cons of 401k are. Only bit and pieces because too many interruptions. What are the pros of 401k if the employer matches the contributions. That’s like free money. So what happens when the employee retires? I need the specifics the math.

[@johnmacgregor3106]

This was a very fun and lively conversation to say the least! Even heated at moments. I hope everyone enjoys and gains some insight along the way, Enjoy! John MacGregor

[@nysdeniedme7732]

John, where can we learn more about the simple investment strategy you mentioned that you only need to check once a week? Thank you!

[@valentinbalaj8621]

I love it Lol........ You changed my life 7 years a go (Rich Dad Poor Dad)

[@frankhtlllful]

That book is definitely an eye opener. They should have high school students read it and write a report on it instead of other books that aren't even applicable to life in most cases.

[@KBCrochets]

Where’s the rest of the series 3/4 parts?

[@johnhundt5179]

Great video, like always, I wish I had this knowledge year's ago I would have done things different, starting to educate and invest differently now.

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[@marketing00123]

"Spent the last 15 yrs traveling the world with you guys." Yeah peddling my books lol

[@MartinMartinez-uq4gx]

I think Andy is in all the Asset classes he just happens to be a pro in paper, which could work to his advantage. Thoroughly understanding paper assets could be very empowering, because its what most of the US is in and it would offer really good insight... But Andy is a real assets investor bc he owns real estate, businesses and commodities as well I believe...

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[@lillianave]

You guys are Brilliant Class type Bigots. But Love your information and will follow up.

[@chrisfx9974]

how do i get my rrsps out and into an unqualified plan??

[@samueljimenez2037]

Love it 😀

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[@cynthiafree4652]

What about a 401k in gold (self directed)?

[@arendestes]

What's the next part in this series?

[@hammerli2011]

Hi everyone, In Portugal a 401k is call PPR ( Plano Poupança Reforma ). Thanks for your free education.

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[@noblegamer8740]

30:00 the solution is proper financial literacy across generations. Parents supported their children when they were young. With proper financial education, the children can help take care of their parents in their old age. “Honor thy father and mother”.