This video presents Robert Kiyosaki's top 10 rules for success, as discussed by Kiyosaki and Evan Carmichael. The video aims to provide viewers with actionable advice for achieving financial wealth, even from humble beginnings. Kiyosaki shares anecdotes from his life to illustrate each rule.
Embrace Failure: Kiyosaki emphasizes the importance of increasing your failure rate to overcome fear and improve performance. He recounts his experience intentionally failing 35 times a night to boost his sales.
Borrow to Buy Assets: Kiyosaki argues against saving money due to the fractional reserve system, suggesting instead borrowing money to acquire assets that appreciate in value. He contrasts this with borrowing for liabilities, which leads to increased debt.
Keep Your Word: Maintaining integrity and trustworthiness is crucial for building relationships and long-term success.
Rewire Your Brain: This involves changing your mindset from an employee mentality (seeking job security and benefits) to an entrepreneurial one (focused on creating wealth and assets). Kiyosaki promotes his Cashflow game as a tool for achieving this.
Transform: Kiyosaki uses the metaphor of metamorphosis to encourage viewers to adapt and evolve during challenging times. He promotes the use of technology and resilience.
Focus on Infinite Returns: This involves seeking investments and ventures where returns are not limited by initial capital. He provides examples like writing books and stock trading.
Question Everything: Critically examine conventional financial wisdom (e.g., "go to school, get a job, save money") to challenge assumptions and identify opportunities.
Use Tax Breaks: Understand different income types and utilize legal tax strategies to minimize tax burdens and maximize returns. Kiyosaki emphasizes the importance of having a professional team.
Consider Currency: Evaluate different currencies and investment options based on market conditions, suggesting gold and silver as safe havens during economic downturns.
Understand the Game: Kiyosaki highlights the manipulation within financial systems and encourages financial literacy as a way to gain an advantage. He criticizes the "save money, invest for the long term" advice for its flaws.
