Why You Should Take More Risks in Life and Money - Robert Kiyosaki [Millennial Money]

Get my latest book, FAKE: amzn.to/2YLLT7X
What’s wrong with millennials? Maybe that’s the wrong question. Maybe we should be asking you if you’re failing by NOT failing.
In this episode of Millennial Money, Robert Kiyosaki goes off on one of his pet peeves: risk.
Life is full of risks: Should you go to school? What should you study? What job should you take?
Why do we think they are risky? Because we don’t want to make any mistakes.
School compensates for managing risk by avoiding it altogether. Instead, school teaches us to learn all the right answers. That way, we never have to fail.
What’s Wrong With Millennials?
As millennials, we’ve been taught our whole lives how important it is to have all the right answers. We’ve been taught to be politically correct to avoid hurting someone else’s feelings. In other words, we’ve been taught to play it safe.
But is that how life really works?
The way Robert sees it, playing it safe is the worst thing you can do.
We might have all the answers… but we don’t do anything about it. The reason is our fake teachers. We’ve been taught by teachers who haven't done it themselves.
Take professors of business or entrepreneurship at university, for example. Though they might have a master's degree or Ph.D. affixed to their names, how many have actually started businesses?
Probably very few.
Understanding a financial statement is the only way to know whether your business is healthy or not. How your income looks compared to your expenses, how your assets look next to your liabilities, are what matters to an entrepreneur.
Why?
If you need to raise capital and you approach a bank, they don’t care about your resume or transcript. The only thing they care about is your financial statement. They want to know if you can increase income. Will you create jobs, minimize your taxes and utilize debt effectively, can you create assets?
That’s why we say your banker doesn’t care about your report card.
Compare that to what school teaches you to be important. When you are preparing to graduate, school tells you that your resume and transcript are important. They also tell us to avoid risk, play nice, and follow the rules. In other words, they are teaching us how to become an employee.
Entrepreneurs think differently. They know the number one skill they need to be successful is the ability to sell.
But most of us avoid selling. To help us overcome that fear, Robert suggests joining a multi-level marketing (MLM) company.
By starting a business through an MLM, you’re given excellent instruction on how to face your fears of rejection and overcome obstacles in ways that traditional education never teaches.
Regardless of how you learn to overcome your fears, it’s vital to face those fears if you want to be successful as an entrepreneur.
#robertkiyosaki #richdadpoordad #millennialmoney
www.richdad.com/
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Twitter: @TheRealKiyosaki
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Instagram: @TheRealKiyosaki
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[@Zuesmericai]

She made a great point saying “you aren’t willing to take risk yet you risk your job daily bc your boss could fire you in a second.”

[@PhoenixCrown]

Job doesn't seem so secure when you get laid off, does it?...

[@Zuesmericai]

Steve Buller fax

[@memestudent7708]

funny thing, she is probably employed by Robert lel

[@jurassicthunder]

@@memestudent7708 funny thing is she has passive income that makes her not care if she has this job

[@Batinya]

“Learn from those people who have already achieved what you want to achieve” by: Robert Kiyosaki

[@NetSkillNavigator]

and dont also forget to learn from other people's failure

[@ChrisInvests]

I've learned more from Robert Kiyosaki than my years of K-12 🙄

[@arnibah]

@zentraal You must be one of the people who voted this video a thumbs down.

[@marcielito360]

@@arnibah Yes, I did. What's your point?

[@arnibah]

@@marcielito360 Your words indicted you did.

[@marcielito360]

@@arnibah Your words indicted you have nothing better to do.

[@thejoxter6315]

@@marcielito360 look at you arguing with them what a hypocrite

[@trends2morrow107]

12 years ago I read the book Rich Dad Poor Dad and sold my expensive apartment and bought 3 apartments generating cash flow...At 67 now it looks like great.

[@mysterioushands69]

so what is your roi

[@duhyenkim3374]

Where did u live ??

[@trends2morrow107]

@@duhyenkim3374 .....lived in India where real estate doubled in 5 years.

[@trends2morrow107]

@@mysterioushands69 . Average 12 per cent including capital appreciation....it was in India.

[@trends2morrow107]

@@duhyenkim3374 . Lived in India. Sold them at a good margin and now the returns are just 6 per cent per annum.

[@marvindahl7871]

Wow its unbelievable that this knowledge is free but a liberal arts degree can cost you 60k. Thank you so much for sharing this information for free!

[@puente6464]

Robert, my biggest risk was purchasing a business at 20 y/o. And I remember the previous owner telling me word for word “You’re going to learn more in the next 6 months then most college graduates learn in 4 years at business school” those words have stuck with me. And Although that business was one of those mistakes, the lessons and insight I learned in that steap learning curve are invaluable. I read ALL of your books in my first year of owning that business (2006) and don’t regret it one bit! You were my first real teacher! Thank you so much for everything!! I am now full time self employed, and on my 4th business. Building assets and truly securing my future. My close friends ask me for financial advice now, and you’re videos are my favorite to share! Thank you for everything! You changed my life starting 13 years ago.

[@elenafried4664]

"PhD stands for Poor, Helpless, & Desperate." Damn. LOL

[@NathanLam]

interestingly, my Chemistry professor at University had a different take on this: He got into a science degree... on graduating from his Bachelor of Science which had initials of BS... he thought it was quite literally BS as it gave him more questions than answers... so he decided to do his Masters... and ended up with even more questions than answers... so his MS turned out to be More Sh*t, and he went on to do his PhD... and when he finished with that, he then realised his pile of sh*t was Pile Higher and Deeper... which is the same as Poor, Helpless and Desperate :p

[@cesarioserrato5306]

Also: Pile Higher and Deeper 💩💩💩💩

[@dymka2006]

8 years ago while vacationing in Miami my wife discovered Rich Dad, Poor Dad book. Today we have 12 rental properties, all cash flow positive. I listen and read Robert's books and videos every chance I get. We're grateful to Robert for educating us on how to become financially independent.

[@robertwiruetin]

Dropped out of school about 3 years ago. Educated myself through books, seminars, online courses and mentors. Making more money and have more freetime now than any of my classmates after finished university.

[@spark4094]

Did you acquired assets?

[@trevorphillips9460]

Could you also help me build business

[@elonmuskstolemyideaofspace7218]

So what?? Not everyone in this world wants to be an entrepreneur!! They might have way more knowledge than u in other fields!!

[@elishacarr6739]

Robert Wirütin well done

[@jeffreyreginaldfield]

Elon musk stole my idea of SpaceX and Tesla So your poor then! 😂

[@keithlamm1126]

"I never let schooling interfere with my education"-Mark Twain

[@Tips2Fix]

Thank you Robert for all of your advice you are my Rich Dad

[@TheRichDadChannel]

Thank you for watching!

[@marcielito360]

He went bankrupt, so not so rich anymore.

[@thejoxter6315]

@@marcielito360 bro STFU you salty cause your not rich and can’t respect a dam opinion like some 6 year old girl

[@marcielito360]

@@thejoxter6315 Obviously you know all about a 6 year old. Reading your reply.

[@rohansingh8513]

@@marcielito360 how sad must you be poor thing.

[@jerzim205]

Thx for teaching me financial literacy, yesterday I went to a bank to buy money card, I asked the consultant what is your house an assets or Liability she said: an Assets I asked her why? she said because the value of the house increase, I laugh at her in her face and I asked her: is your house bringing money in your pocket? she said NO than I laugh at her and told her why did you say that your house is an asset, its a liability because money is flowing out of your pocket.than she said uhm you're wright boy than she asked me if I wanna work in the bank in the future. I told her No. I wanna be a financial educator #financialeducation #finacialliteracy

[@DiogoSF008]

JerZim So basically you want to be a financial educator by “laughing” about your students when they say something wrong. I’d just say, be smart in your approach.

[@jerzim205]

@@DiogoSF008 obviosly in front of my students not tho, but come one you work at a bank you have a BA business degree

[@thejoxter6315]

@@jerzim205 that statement is more understandable you were laughing because of all the education they got and they still don’t know what I knew at 13. I’d laugh too

[@praveenmallikarjun]

That's Amazing knowledge I received today... I thank God ... And technology that I got to know these people in this age.... Thanks Robert .....

[@muzimoyo5028]

I started reading Rich Dad's books last year and I must say I have benefited from them more than I have in my 12 years in school.

[@Solythetree]

The most important thing I learned in college was to question everything.

[@skipflipdank6604]

I've been watching you for months and my whole life i understood this before hearing it. Just needed more legal knowledge. Thanks robert

[@PhoenixCrown]

When I was 18, I started a painting business as a franchisee. I signed an agreement that said I would pay back ~$2K, which, at the time, was a big deal for me. My Dad was furious with me, but he's not an entrepreneur and wanted me to focus on college. Well, I learned how to juggle work throughout the school year as I hired and sold work for the summer. I even made ~$5K at the end of it all. I probably made less than minimum wage with all the door-knocking and MISTAKES I made, but the education was phenomenal. I'm so glad I took that risk. I still went through college and ended up getting my CPA license. While I was working in the corporate world, I started another business and lost some money. Today, I run my own accounting firm supporting small businesses and make money. I learned along the way =) Thanks for all the content!

[@NathanLam]

Thank you Robert for your passion! I've learned more from listening to your radio show, reading your books... than going through the school system... I have a post grad degree in Business Administration... and honestly, the school system has been a total waste of time... (and money)...

[@elemauelel9763]

Live Alkaline water makes history check it out on KZbin

[@akramdahmani7214]

was it actually that bad that you described it a waste of time and money? did you really regret it? did you get out of academia moved on to something that you think is gonna help succeed? I would be very thankful if you answer one of these questions and I won't be able to thank you enough if answer all of them ♥♥

[@NathanLam]

Hi @@akramdahmani7214 Thanks for your questions, looking back at it now, I would definitely say yes to your first question... a complete waste of time and money as my studies (sad to say, one of the subjects undertook was called Entrepreneurship) were taught by academics who had no clue what it was like in the real world - fake teachers... the course were largely theoretical. Have I used anything I learnt from both my undergrad degree and post grad degree? I would say less than 5%... the only time I had to use something that was actually taught in University was when I had to design and calculate the tensile strength of a component used in the construction of a project home. No to your second question... there is no point in regretting the past, as it adds to how I look at and understand things now. The only thing I regret was not knowing how to or being able to find a mentor/counselor that really understood me and had the right experience to guide me in the right direction (therefore wasting time and money going through University). To your last question, I am now taking steps to follow my passion... it is to bring holistic wellness to all I reach. I have an overarching aim and goal with many different aspects below it... I am currently working on solving a problem of chocolate being very unhealthy because of sugar/artificial sweeteners, and other additives like soy. My chocolates are healthy because I use either raw honey or maple syrup to make them and are free from all the unhealthy additives... www.choco8.co Once this is established, then I will proceed to the next project in the pipeline... I hope this answers your questions. So where are you right now on your journey?

[@akramdahmani7214]

@@NathanLam Well, as I said I can't thank you enough for answering all my questions ♥ again THANK YOU and thank you for sharing your thought which I think are insightful currently, I'm kinda lost because honestly, I REALLY hated university and I can't imagine myself going back there anymore so, I'm dropping out to start following my passion which is to learn CS (Computer Science) starting with web development, but there is something scaring me quite a bit which is: "Yes, I have a clear vision of what I wanna be and where I wanna go, but I don't know exactly what to do (i.e I don't know the exact path that will take me there) " So yeah I'm trying to break out of the "OLD", "SAFE" system, but I'm not sure If I'm gonna be able to make it or not

[@akramdahmani7214]

can't read your last reply bro, I think it's deleted

[@Dash-ij9rs]

I’ve been learning so much from this man he is so smart

[@leroychung4539]

THESE ARE THE MOST ENLIGHTENING EDUCATIONAL WISDOM ONE CAN SHARE! THANK YOU SO VERY MUCH MR. KIYOSAKI.

[@cameronaitken8403]

Just Wow. Thank god I watched this before applying to go start university next year!!!

[@ShammyLadoo]

Why are ETFs bad??? I dont understand. I have a business and I make money work for me. I put 20-30% of my income in a Vanguard ETF VTI and I do dollar cost averaging. I'm 20 years old. The market crash that is about to come is irrelevant because I will be investing the same amount every month regardless of where the market is at - and by the time I'm 40 whatever market crash would have recovered. Can someone please tell me what is so wrong about this thinking? This was Warren Buffet's #1 piece of advice.

[@Al-Hollandi]

Im so happy to find these videos, it really helps me as a starting entrepreneur !

[@hezo4534]

Thank you Robert Kiyosaki for your revolutionary speech. Thanks a lot. God bless you.

[@millennialmotivation7324]

Rich Dad! Youre the man Robert - I appreciate your insights!

[@Boosty_Boost]

I want more advanced lessons! Please and thank you! :'D Also, i hope i can give something back someday! Also i loved Rich dad, poor dad!!! Audiobooks are so easy to consume!

[@AndresS1994]

Mister Robert Kiyosaki is The Best Teacher who really helps us not those BS talkers in the school.

[@dinslayerofficial899]

I want to learn more about the mysterious happening in this world of financial. That poor and average people dont know. Thank you robert for sharing those information that give me a idea...

[@infiniteplayer9929]

Real education by a real teacher . Thank you Robert ! 😃

[@evaristochimwala6980]

This is awesome my mentor Robert Kiosaki love u...

[@rwilks5733]

The last few minutes of this video 🔥🔥🔥. We need this taught in schools

[@BullsEye4444]

Love making mistakes and learning and taking risks! Saving money in a part-time job I loathe because I need fake assets so I can more calculated risks on fake assets trading equities, hedging, bearish and bullish style! Better than saving the little money I have now or getting a full-time job.

[@MikeyDunksMusic]

Such a simple system. Thanks Robert K.

[@JoeMeats]

Everything you ever wanted is on the other side of fear

[@Frankincensedjb123]

As an adjunct college professor in Los Angeles for 20 years, one who teaches economics, ethics, and critical thinking, I've worked with millenials for years. I focus on the useless/destructive Fed, education's considerable shortcomings, an an increaed IQ in real-world economics. No fake teacher here. Many students have called me the "most real teacher" they've ever had. There is hope.

[@trevormajula8462]

Spot on and God bless you Sir

[@itqueen7238]

I always admire you Robert . One book that can change life is Rich dad, poor dad.

[@joshclarkfitness]

IT Queen what books of Roberts are worth buying that can help me become smarter and understand how to generate cash flow?

[@itqueen7238]

@@joshclarkfitness I have read Rich dad, poor dad. Definitely that will help you to get financial knowledge. It teaches you What is asset, what is liability and how rich become richer and poor become poorer.Rich have Multiple source of income to cover their liability. Rich buy asset first and liabilities at last.How tax works and what is corporate? There are many other books like Increase your financial IQ, Fake , etc. You can try them.

[@Ari-mz1ou]

I have learned so much from u more then what I learned from medical school

[@jbenitez22]

Good job Ale! Energy and delivery has improved dramatically! Keep pushing. 👍🏼

[@umarfarooque7002]

Thank you very very much Robert to learn these valuable lessons

[@abdulmalikumar5838]

😂 Almost died at 2:37 when Robert said "ohhhh" and 6:41

[@ttlfmag3507]

😂😂😂😂🤣🤣i know

[@salvediaz4061]

Yes..i would also like to have free copy of your book...thanks

[@GrowthMindsetProductions]

I *really* enjoy the quality and variety of educational videos on this channel. All I can say is *keep* *it* *coming* ! :)

[@stonervisiontv1388]

Im very grateful to learn.

[@sonydroid2253]

So what type of bank should we use?

[@woodiesmx4563]

excellent content, keep doing this videos! they are really interesting and helpful.

[@youknowwithMartyKauffman]

Man this is some really good stuff so much good insight

[@akashsarade8965]

Very Valuable My Real Teacher.

[@stargazer5073]

What book do i buy to learn your real estate model.

[@user-rb8ln4tr7i]

Such good advice, thanks mate 😁

[@tepelbos6164]

Thanks robert the school system here in the netherlands is also like this and they kicked me out after getting 0.7 points too little on my math exam i got verry depressed because i felt like a mayor disappointment i am going to use what i learn i will become rich and i will be a a succes thank you so mutch for your lessons i hope i get the chance to meet you someday,the world seems less dark with the hope you bring thanks

[@TheBlueskyson]

Hola Alexandra! ty 4 vid.

[@qwertyui5086]

You can trade papers and make profits if you possess the skill and psychology. Find a edge in the market, manage your risk, trade with consistency and you're very close. But in the end we need money to make money.

[@UnwrappingByMimiKoteng]

Amazing Dad!

[@hetdaftary9189]

Thank you sir, great video

[@lylewilliams1371]

Good video!

[@iforce6567]

Thanks Robert

[@businessman4649]

It's So Incredible, all the Things That Robert Teach Us

[@mdlive4688]

Thank you

[@moviesforyou5490]

LOVE from Morocco Mr. RoberT❤️

[@spatialhorizons1212]

Real estate investing could not be a greater investment, but I was never taught real estate investing in school.

[@nmontyxxx]

SpatialHorizons None of us were and that’s no mistake/error...

[@BradKwfc]

Both my parents had apartments growing up. My dad at one time had 18 units and my mom had 5. Watching them made me not want to get into real estate...Their flaw IMO was that they became emotionally attached to their properties and they spent their effort keeping them immaculate rather than growing their investments...but that's just what I noticed as a child... probably more to it.

[@markjohnson3192]

@@BradKwfc so you didn't get in the real estate bc of that?

[@BradKwfc]

@@markjohnson3192 Yep, after seeing how hard they worked for what they got I had no interest. Life is not just about money, if you don't enjoy what your doing then whats the point?

[@markjohnson3192]

@@BradKwfc I agree. Life is not only about money but it's very important. We use it every day and spend most of our lives working for it. It's just nice that we can enjoy it and pass it down to the next generation.

[@Endeavor545]

I read FAKE! It was awesome!

[@rennyzero420]

Yes Sir

[@johnmav8309]

Very good!

[@googe2312]

Good stuff.👍

[@fonsekhmaniya1687]

Mr Kiyosaki tell about Fiancial intelligence in detail along with how to grow it with steps of formula,practice exercises for self evaluation of Fiancial intelligence.

[@1440PGamingContent]

Thank you dad!

[@TheCuttz1984]

I learn alot from most of the videos you make. But how do I avoid taxes etc in Australia? What classes or self investment would you recommend for someone in Australia.

[@Adam.Rushing]

I'm almost 41 and I just found Rich Dad last month. I have binged him like crazy on YT and his web site. Good stuff. For all you youngsters, keep up with this and you'll be good to go...but don't slack, you need to learn it all and never stop learning. Rust can't grow on a moving target!

[@sloppyjonuts9162]

Business management school just gets you a certificate to be an employee to get a job as a production manager at a Amazon shipping facility

[@IamSamSammIam]

Me: *sees a pretty millennial (Alexandra)* Robert Kiyosaki: Thats risky...

[@alexsimare]

Me: I will take that risks. *LoL

[@tanakamichael1011]

I died HAHA

[@knighttj4372]

Very interesting subject and ideas. I am so close to invest, but I still have to learn more about the legality of these types of actions in my country. I still have questions about debt and if the rules presented about it are applicable in my country. Really appreciate what you are doing

[@NetSkillNavigator]

You really have to study well about using debt and master your skills around it to lower your risk

[@Fedgery007]

That drawing was cracking me up!

[@samirkiertonia3330]

Robert is best

[@jeezus17]

Im getting my hands on that boardgame! Thank u guys!

[@markjohnson3192]

The board game is amazing.

[@bassan9609]

this video feels like a slap in my face...and makes me awake

[@EternalAmber]

I disagree on his advice on not investing in stock mutual funds, etfs. he say "on the next crash you will lose everything" on 12:47. if you are invested in a mutual fund or an ETF and a crash happens, then that means all the companies that are part of the mutual or etf fund would have to go to 0. you can't possible expect a snp500 etf that consist of big companies to go bankrupt. you expect amazon to be bankrupt?

[@BradKwfc]

Thanks to Mr. Kiyosaki I'm realizing my middle class life is one of the riskiest positions to be in. About a year ago I quit contributing to my 401k plan, took the money out and began investing. I lost more than half of it but my eyes opened to a massive opportunity. Not a get rich quick scheme but a work your ass off and hopefully claw your way to the top kind of opportunity. I'm working on the next step- to create a support group so we can help each other become successful...my only problem now is where to find and how to pick the group members. And no this is not an advertisement, just writing my thoughts.

[@GauravSharma-uk9om]

Add me in bro, just say what I need to share and I wanna be part of that group

[@ryanjohnson5035]

Is the british pound a better currency to hold since it is backed by sterling?

[@zefsios]

He is right!

[@Creativepreneurlive]

Amazing info

[@markjohnson3192]

Great video.

[@lopo8000]

The Drawing skills tho 14:38

[@dantef4399]

Mind blown..thanks..I'm on my way to entrepreneurship..and I got some of the best teachers on my phone! The future is great

[@jeremiahstith2843]

Go and chase your dreams. Don't be afraid to fail.

[@estebanmeza978]

I’m very curious. @Robert Kiyosaki what are your thoughts on the 2007-2008 financial crisis? Because I remember at that time a lot of frauds were made with mortgage. And, a lot of people were getting sued. Also, my parents lost their home because of that.

[@sethleach6867]

Good stuff.

[@josephliu603]

Hi Robert, I’m a huge fan of you. I know my question probably won’t be answered, but I still wanna ask that I’m a stay home husband, I’m passionate about business but I’m afraid that I would lose everything to take a step. Wanna go to accounting school, but 4 years seem too long to me. Can I have some of your advices

[@romanjanssen4833]

Hi Joseph, I hope youn can still read this. As with any startup, start small! Maybe just program a website to sell and then learn how to grow from there. Purchasing a store (or especially a restaurant) can ruin you indeed. Be careful with that, always read and understand the fine print. Good luck!

[@SamiUllah-ty1zz]

Wonderful smily and lovely

[@riccccccardo]

Going by Dan lok words. Poor people work for their *time* Wealthy people work for their *results*

[@k.yvonjulien2771]

Fake everything, cuz the real is inside build the big love and wealth in first. The power of imagination 🔑🔑

[@lindseyvelveeta2156]

I'm loving the thumbnails lol

[@catwomanmeow139]

Can you please recommend who is for you best author on financial intelligence. Thank you

[@markjohnson3192]

Why? His books are great. Just follow them.

[@bidhanraychaudhury1046]

Partially true...

[@NetSkillNavigator]

Education is more important than before, but you gotta be careful what you're learning.

[@riteshyeddu9186]

I love these videos and I think that they'll help me a lot in my future ( I'm 16, from India). And, Alex's accent resembles the valley girl accent a lot😁

[@sudarshann.s5317]

Warren buffet is the most successful investor is all time and he invests in stocks. How can you say investing in the stock market is stupid you also mentioned Peter lynch in your book who is also a stock market guy and both of them are worth more than you I don't wanna offend you I've learned a lot from you but I'm just curious to know the answer

[@Defy_Convention]

It's different now versus then even Buffet is making mistakes look at KHC and TEVA the market is not what it used to be you're better off in index funds to minimize risk and maximize long term gains

[@surendrashekhawat4155]

Sudarshan N.S you might be also believe Einstein said compound interest is the 8th wonder of the world 😒

[@fusionsniping3741]

Insane that schools find an A better on geography over having financial education

[@talktimewitheddiej]

Alexandra makes a great host. Entrepreneurship is the only way to go.

[@AG.vlogs.1993]

What is right assets?

[@congosrevolution8625]

AVG AVG real estate