I’ve Studied Money for 70 years, And It's Not What You Think It Is

About this video

• Video Title: I’ve Studied Money for 70 years, And It's Not What You Think It Is
• Channel: Robert Kiyosaki
• Speakers: Robert Kiyosaki
• Duration: 00:09:44

Overview

Robert Kiyosaki discusses his lifelong study of money, emphasizing the importance of financial education, which he believes is lacking in traditional schooling. He introduces the Cashflow Quadrant (E, S, B, I) and explains the different mindsets, skills, and financial outcomes associated with each. Kiyosaki advocates for moving from the Employee (E) and Self-employed/Specialist (S) quadrants to the Business Owner (B) and Investor (I) quadrants to achieve financial freedom.

Key takeaways

• Financial education is crucial: Traditional schooling doesn't teach about money, leading people to work for money instead of having money work for them.
• The Cashflow Quadrant: Understanding the difference between Employees (E), Specialists (S), Business Owners (B), and Investors (I) is key to financial success.
• Mindset shift is required: Moving from the E and S quadrants to the B and I quadrants involves a significant change in mindset, skills, and education.
• Skills for B and I: Business owners (B) need sales and capital-raising skills, while investors (I) generate their own assets and understand debt.
• Job security vs. Financial Freedom: Kiyosaki argues that job security can be costly, leading employees to pay a higher percentage of their income in taxes compared to business owners and investors.