This ALWAYS Happens Before A Total Market Collapse | Robert Kiyosaki

I love crashes. When the markets crash, that's when I get rich. >> Inflation is causing stress. >> The United States can pay any debt because we can always print money. >> If you print bonds in your own currency, what happens to the currency? When the currency collapses, the economy collapses. You have to be ready. >> What's your best investment that you've ever made? I wrote a book, sold 45 million copies of it. >> Do you expect some sort of a stock market crash and how can you get rich during the crash? >> To me, it's the game. I play Monopoly. Four green houses, red hotel, oil wells. There's so many options to get rich, but you got to find the one that works for you. >> Do you see there being a huge issue with money printing and taking on debt within the economy? America loses 2 trillion a year. One of the richest countries in the world used to be called Rhodesia. The biggest financial disaster in history took place there because they kept printing money. The US dollars next. Robert, thank you so much for coming on the ice coffee hour. You've really changed my life. I think you when when your book came out, uh I read it in high school, I think 9th grade, and it completely got me thinking about buying assets, not buying liabilities. That completely changed my perspective that from that point onwards, I just wanted to invest my money. >> Yeah. >> And I think I wouldn't be here today if it were not for your book. I tell you that's the greatest joy of my I'm an old man now you know and when I started out about your age all I could hear was you're full of you're full of you and I was saying this saving money is stupid you know savers are losers your house is not an asset and you should buy the stocks I'm not in the stock market and I had to fight for my own survival mentally so I meet young guys like you you more options. And that's the thing is there's so many options to get rich, but you got to find the one that works for you, you know? So, it's great. Yeah, >> that makes me happiest. >> Thank you. Curious, how much debt do you have? >> 1 billion, too. >> Does that ever make you nervous? Are you ever worried about defaulting on the debt? >> It gives me a sexually stimulated. >> Now, I'll tell you why. Okay, you owe the bank $20 million >> and you can't pay it back. You got a problem. But you owe the bank a billion dollars and you can't pay it back, it's their problem. >> How do they give you a billion dollars? >> Real estate. So, but if you if you say that you owe me a billion dollars, that's your problem. You know what? What if the bank sees that you're saying that or they like you know they would be like okay well maybe we should stop lending this guy money it is that just the reality of the situation and everyone at that level knows that if you default it's not your problem but it's the banks >> well you have to learn it's a process you learn you know like I the reason I wrote Rich Dad Poor Dad is they don't teach us anything about money and so when I was a kid I was rich dad taught me playing monopoly and he says one of the first persons on your team is your banker. So, oh, this is in Hawaii. Wy Ki >> and I would go with him. I'm kid, you know, going and he'd be talking to his banker. So, his banker understood his strategies, how he was doing things, never lied to him. Had his financials. The average American doesn't have financials. If you don't have financials, you know, income statement, balance sheet statement of cash flow, which is what I wrote about Rich Dad Poor Dad, banker won't lend you any money. They give you a credit card. So the you've got to play the game or speak the language of a banker. So as a young man, I sat there listening talk to his banker and I go, "Holy mackerel." And his job was going to stretch from me and I said, "Look, I just need another million." I said, a million >> and and my old man, poor dad, you know, he go, >> you can't even get a credit card, >> but you have to have a banker on your team. It's very, >> you know, business is a team sport. >> My accountant, my attorney, my banker, they're on my team. >> Why would you say your advice is so controversial? Why do people see it as something way out of the norm? And >> well, when I wrote Rich Dad, Poor Dad, it came out in 907. I created my cash flow board game. >> Mhm. >> And nobody would buy it. So being an entrepreneur, I said, "I better do something pretty quickly here." Start out Rich Dad Poor Dad in 97. And of course, they all turned me down. Said, "You know what you're talking about?" He said, Said, "Your house is not an asset." I caught hell for that one. Then I said, "Savers are losers and the rich don't work for money." So those three statements and rich dad poor dead I mean I was catching hell from everywhere from that I somewhere I was living at not too far from here and I'm on the f first time I'm on local TV and I said your house is not an asset I got attacked by a bunch of these older women should I say our house is an asset yours may not be no but if your red [ __ ] dead poor dad asks us to define by cash flow. >> Mhm. >> If cash is flowing into you, it's an asset. If cash is flowing out, it's a liability. It's called financial literacy. Can you read numbers? Can you speak the language of money? But most no financial education. So that these older women, they said, "How dare you say that?" And they were friends of mine. How dare you say that house is not an asset? I said, "Ma'am, how much does this cost you a month?" I don't care what you say. It's so ingrained. You have to buy a house. Look at most guys, you know, the young sports stars, they make, you know, get a million dollar bonus. What do they buy first? The house, >> you know, it's so programmed into you. >> So, how do you simply determine then what is good debt and what is bad debt? >> Debt that makes you rich and debt that makes you poor. Is there an interest rate though that you wouldn't pay? Like if they offer you debt at 20%. Would that just be too much? >> I've taken debt. Depends on taking at 20%. >> It depends. >> Yeah. >> Depends on how how tough situation you're in. >> It's a game. I played Monopoly. Play Monopoly. Four green houses, 1031 red hotel. Most people never get past the first house. They only have no houses. To get to the second house, you get, you know, one house you get $10. Second house, you get $20. Third house, you get $3, $30. Fourth house, $40. Hotel 60. Well, it's a quantum leap from four houses to that hotel. So, I own hotels in town. >> I just play Monopoly. It's not that hard to do. >> What do you think is the biggest misconception people have about you? >> I'm a nice guy. Now >> they think you're a nice guy and you're not. >> I'm an You shut me. >> Really? >> Oh god. I'm a US Marine. Well, you cross me. I you suit. >> Well, you've been nothing but a nice person to us. >> Well, cuz you guys are nice guys, too, you know. But boy, would you you know this respect. You guys are very respectful. >> You understand this your subject. You're successful at what you do. I was I'm glad you brought that up because it's the last two Uber rides I had. I almost got into a fist fight with the driver. >> Why? >> They're lazy. This one Uber guy picks me up. He goes, "Hey, did you write the you write that book?" I said, "Yeah." I said, "No, no, no." He goes, "Did you read it?" He goes, "Nah, I don't have time. Tell me what I should do." >> He said that. >> He said, "Do you think I just get rich?" Yeah. Yeah. Yeah. I said, "Look, I study all the time. Do you study?" He goes, "No, I'm busy working." Said, "See, you're a poor working-class guy." >> "You should have him buy your audio book, though. They could listen to it in the car." >> Yeah, you could have made a few dollars if you just upsold them your book right then and there. >> I don't have time for lazy people. >> I'm curious. >> I don't have time for lazy people. It's easier to be lazy than productive. Yeah, there's a Okay, there's a couple interesting things there, but I I do want to lean into the idea that a lot of wealthy people share that in the beginning, you need to do a lot and think a little bit less. And then once you start making a lot of money and you have a lot of people under you or you're you're a highle operator, then you need to think more and do less. And and your more money is made from your decisions instead of the actual work that you're putting in. Do you think in the beginning that you should just continue and work hard? When do you start like really thinking about these things? >> The thing that happened for me was I um went to military school. I got uh I flunked out of high school twice cuz I can't write. Imagine that. >> Mhm. >> I'm an international bestselling writer. But it wasn't that I couldn't write. The teacher didn't like what I was writing. Those bastards. So I I said this is I said this school is a waste of time for me. Said I want to be rich and you guys are poor. Why do I want to learn from poor people? My school teachers gave me an F for that. So I got N I got nominations to Naval Academy, US Merch Marine Academy. I took Merch Marine Academy. My study was oil. You know how much money I made from oil? How much? Lots. It's cash flow. I drill an oil well. Oil well will produce for 40 years. So, I'll invest, let's say, $2 million in a partnership to drill for oil someplace in North Dakota or, you know, Texas. And that oil well pumps oil for 20 to 30 years, and I pay no taxes. That's a lot better than paying a stupid stock market. Now, look, my point here is this. >> There's a million ways you can get rich as young guys like you find the way that works for you. You know, like Warren Buffett, I could never follow the guy. I personally don't like what Warren Buffett says, but he's got he's successful at it. But I don't play the stock market. It's waste of time for me. So I drill for oil and I get that and then I buy apartment houses with my money from my oil and I get and the apartment houses throw cash flow every single month. and I have apartment houses because I use 100% debt to finance the apartment houses so that I pay no taxes. It's only a game. It's sheer monopoly. Then I buy a hotel. >> Do you think the average person should be investing in stocks or who do you think should be investing in stocks? >> The best advice for the average person is don't be average. Get your ass. The stock market and the 401k is set up for losers. You want to be a loser, get a 401k. Why do you not want to invest in stocks? Is that because of tax implications? >> Control? I'm an entrepreneur, not a freaking loser. I control the oil. Well, I control the apartment houses. I control the hotels. >> But isn't some of that dictated also by the the city and the governance? >> A little bit. Yeah, sure. You got to play the game. The point here is most people are losers because they're lazy. It's America is too easy. >> When do you think it made the switch that people have become lazier over time? >> Good economy, debt. There's 200 million Americans on some kind of government welfare right now. That's almost half over half the half the population. And they're all on all all counting on what do you call that stuff? Social social security. It's bankrupt. America's bankrupt. America loses 2 trillion a year. So we collect, let's say, 5 trillion in taxes, but we spend 7 trillion in expenses. We spend more on debt than we do on on weapons. >> Mhm. >> And we're fighting a war in the Middle East. And we're fighting that place in Ukraine. We're going bust. We're bankrupt. So that's why I say I don't I don't save this. I always carry this around. >> Here's $10 and here's a 1964 coin. Which one do you want? This is 50 cents. This is $10. The average American goes for the 10 bucks. This is worth more. Cuz this is real money. This is fake. They go for fake money all day long. is really really sad. This in 10 years will be worth 20 of that. You know what I mean? >> Yeah. >> Because they keep printing money. Why don't our schools teach us that? Because our school teachers are Marxists. They're Marxist. I mean, not bad people. They're just Marxist. I'm a capitalist. Okay. Big difference. Yeah, you would do great if you went on the street and you asked people, "Would you want $10 here or this 50 piece?" And just see what people say. >> They don't realize that that's silver. >> I do. They don't know the difference. >> How often do people take the silver? >> None. >> This is worth more. >> You say that they don't teach you this in school. I'm curious, why is this not a part of the curriculum? People always speculate they're keeping you poor. They want you to stay poor. They don't want you to understand investing, buying assets instead of buying liabilities. Who are these people that don't want you to become wealthy? Do you think they exist? This I wrote a book called the capitalist manifesto. One of the first books I went to military school, the US March Marine Academy. Our first book we had was a communist manifesto. I recommend everybody read the Communist Manifesto and you'll find out that most of your friends are communists. They believe in paying income tax and um a whole bunch of other things. So I went to military school. I read the communist manifesto and I was curious at that but I was 18 years old. Mhm. >> Then I found out in 1930 Columbia University that communist organization invited Marxist teachers from uh the Frankfurt school in Germany to come to Colombia's teachers college to teach teachers American teachers Marxism. So our school system is Marxist. If you can understand that, I mean what they told you to uh pay taxes. You what you what Marxists taxation is essential for the spread of communism. They also said most school teachers are labor union people. What Mark said was workers of the world unite. When I read the communist manifesto, it's only a small little book. >> I went my family's communist. They're good people. Don't get me wrong. You know, you see them on the street. Well, there's communists over there. But they they pay taxes. I don't pay taxes. One of the hardest parts about money and building wealth is finding a way to invest consistently and passively. Most of us, we just swipe our cards at groceries, gas, restaurants, and at the end of the month, there's nothing set aside to invest. And that is exactly why we've partnered today with Gemini to showcase the Bitcoin credit card, the only instant Bitcoin rewards card. With this, every purchase you make earns Bitcoin back. That's up to 4% back on transportation, 3% on dining, 2% on groceries, and 1% on everything else. It's really one of the easiest ways to gain some exposure to Bitcoin. All you have to do is use your card like you would normally, and instead of earning airline points that constantly get devalued, you get to earn Bitcoin back instantly. There's also no market timing required. You're just investing as you spend. And to put it in perspective, Bitcoin rewards that are earned and held for one year on the Gemini credit card have appreciated 277% on average. Now, obviously, crypto is volatile, but it shows just how powerful this can be when you're thinking long term. Plus, this card has no annual fee. So, if you're interested, go to gemini.com/ist, and when you're approved and spend $3,000 in the first 90 days, they will give you $200 in Bitcoin. You could even check if you're eligible with no impact to your credit score. Just head to gemini.com/istic or use the link down below in the description to apply today and start earning instantly. Seriously guys, this is a really powerful credit card with zero dollars in annual fees. If you want to earn the Bitcoin when you're spending your money and invest for the long term, I highly recommend it. See rates and fees in the description for more info. Thank you so much to Gemini for sponsoring this episode. How would the government run though if they were not collecting taxes? cuz there would have to be money coming from somewhere to pay for things like roads and city street lights and things like this. >> Not my problem. >> No, I mean they'll figure it out. I mean I >> communist they just extract your money from the top down. >> You know Russia runs they they they're communists. The point is people don't know they're educated by communists. I was I was at Arizona State University, was one of the fourth largest schools in America. I was on stage with a guy named Charlie Kirk. They came after us because we were teaching capitalism. So if you understand that I would say 80% of all school teachers are at the core Marxists, they just don't know it. They pay tax. They belong to the teachers union. What's the biggest union in America? the NEA, National Education Association, National Extortion Association, our test scores are going down, teacher salaries going up. >> If the average person knows nothing about money, if you could go in and rewrite the school's curriculum to teach financial literacy, how to invest, >> what are the topics? >> I already did that. It's called Rich Dad Poor Dad. >> What would you say? >> I already did that. >> I I agree. I read >> and that's why that lazy son of a Uber driver says, "Yeah, I got your book. I don't have time to read it." I said, "The problem is you're lazy. They're hardworking poor people." There's nothing wrong with being a hardworking poor person. You guys had that guy on was talking about he was >> he he hung out with Richard Branson on Neker Island and all this. >> He says there's different kinds of poor and different kinds of rich. That was a great program you guys had. I sat there listening to I went >> so he says you can be al you can be poor but you can be ultra poor also and you can be rich and you can be ultra rich and this guy was what was his name he was really >> sill bloom >> man >> he was talking about the optimal rich to be because if you get ultra rich you have to question are people around you because of what you have but if you're rich you have access to things without being over the top. Yeah, he was very good. Yeah, >> you great great program you guys had. >> So I listened to that. I learned a lot of that's a coming on your show is I better find out what you guys are about here. >> So you guys are into educating and illumination basically putting the light on the subject. But when he says there's, you know, some people they get so rich it ruins their lives. >> I don't have that problem. I like because getting rich is a game to me. That's all it So, where do people go wrong where they get rich and it ruins their life? What makes you different and how have you gone about that? >> I think they sell their soul. We all have a soul. There's a price on it and uh I just don't do that. >> You've said savers are losers. That's one of my favorite quotes of yours. I'm curious when you say savers are losers. What is the average person? the person that doesn't have a lot of extra money at the end of the month supposed to do then >> save real silver today is 40 45 bucks I think >> gold is 3500 I started saving this when it was a dollar I have boxes of silver and I have boxes of gold I own gold mines I took it I've taken two gold mines public. One on Toronto Stock Exchange, one on New York Stock Exchange. I believe in sound money. I don't work for this fake garbage, but that's what schools teach you to do. This is not money. This is called toilet paper. And they can print as much as they like of it. And it's killing us right now. It's killing this country. So, I was just talking to you. I was in Zimbabwe last week. Mhm. >> I was in Zimbabwe in 2002. You know when you guys may have seen them those here's 100 trillion Zimbabwe dollars. Everybody's laughing at Zimbabwe. So I was in Zimbabwe in 2002. I'm a hunter. I'm a, you know, politically incorrect hunter. So I'm out there in Zimbabwe. I'm looking at this stuff. And the next year I went back again. The Zim dollar collapsed and I'm in a truck, a hunting truck and these truckload full of black guys with AK-47s. They're called war vets. Why they called that, I don't know. They came up there just went like this. All we can do is this. When the currency collapses, the economy collapsed. So that's why I say to Americans, I said America is doing exactly the same thing Zimbabwe is doing now. We print money to pay our bills. There's no difference between a Zim dollar and a US dollar. So I warn people all the time, don't save this. Save silver, Bitcoin, Ethereum. Go for something that's not printed by the US government. Like I said, I don't have oil stocks, but I own oil wells. >> And every month they pump oil. Guess what? They use it every month. Every month they send me a check. And because I'm in a vital industry, oil, I pay no tax. You don't have to. You know, my friends all live, my friends live in Vegas or Puerto Rico. I said, 'If you knew your tax law, you wouldn't have to live in Puerto Rico or Vegas because uh the tax laws are written for capitalists. If you're not a capitalist, you pay tax. >> Do you invest in anything that you can't get depreciation on? Because I know with oil, you could depreciate it. Real estate, you could depreciate it. How do you decide where to allocate your money? And at what point do you buy something like Bitcoin or gold or silver? >> I'm always I'm always moving money. My problem is too much money. If you just buy assets, rich don't work for money. What the rich work for are assets. So my first property I was was 1974 getting out of the Marine Corps. I was a pilot. All my friends went on to become pilots for the pension. Guess what happened to all their pensions? Gone. They took all the pensions of the pilots. Bunch of losers. But I'm not going to fall into that trap. This a 74. So I just at that point I took real estate courses, stock courses, technical trading. I go to seminars and you know what I met these little seminars and goofy things like that around Holulu. I meet I meet guys like you. That's where I met my friends. There were people that were actually interested in learning about money and we became really good friends and my best friend and I became billionaires. I met him at a seminar, you know, let's let's let's kick some ass. But if you hang out with losers and poor people, that's your choice. And they're probably good people wrong. You know, like that Uber driver in his head, I'm quite sure he has a tape of a cassette playing. I'm a good working hardworking poor man. Unless he changes that tape, he's a hardworking poor man. I said, "Have you read my book?" He says, "No, I don't have time." But he has time to drive an Uber. God bless him. I like Uber. You know, saves me from DWI drivers and all that other stuff. You know, it's a great service. It's fantastic. But if a person doesn't change the tape up here. So that's why you read books and study and go to seminars and YouTube and what you guys are doing. Listen in. >> So at this point, where do you make most of your income from? >> Just property and oil and I make a lot of money off of uh I've been buying gold since I was a not a kid, but you know, basically. So I just paid for my house. They wanted 4 and a.5 million for it. So I just took out some gold from my safe, paid for it. The gold only cost me 450,000. The house was 4.5 million, but because I saved gold coins, so I only paid 450 for the gold, but over the years it went to 4.5. So, I paid for that. And man, I only hang out with friends who are rich. I mean, I don't mean I'm selective on this. >> Yeah. >> But we just get along. We're always doing deals together. So, my other friend, Kenny Mroy, one of the smartest real estate guys I know, you know, he's doing uh billboards now. I said, Kenny, how what the heck you doing in billboards? He says, bonus depreciation. So that means you put a 100,000 to a billboard, >> right? >> You might get five billion 500,000 depreciation. So by hanging out with smart guys, I get richer. And he and I and Ken and I are always studying together. We get together on a regular basis and we study. So when I was with those two Uber drivers, I mean, I they just pissed me off the other day. Well, I don't have time, man. Tell me what tell me tell me I want you to do. You know >> what percentage of people would you say have that mindset that they just don't have time? >> Lazy people. >> What percentage of the US? >> Probably 99 95%. >> And what separates them from the >> That was your that guy. Who was that guy? >> Sawill Bloom. >> Everybody should listen to that. >> Yeah. Link to that episode down below. Our episode was Sawill. Highly. We just posted it. So it's a brand new episode. So chances are you probably haven't seen it yet. So go and see it. >> It's fantastic. >> Thank you. Thank you. >> Because it's only a choice. Well, how much? People said, "Well, how much is enough?" I said, "I don't think you get it." I go, "What do you mean?" See, they think money is about the dollar amount. To me, it's the game. I play Monopoly, four green houses, red hotel, oil wells. It's just a game to me. It's not serious. >> What's your best investment that you've ever made? I wrote a book, sold 45 million copies of it. That's the biggest asset I've ever made. >> How much did you make from the book? >> I don't know. I don't count I have accountants do that [ __ ] for me. >> I'm always moving money. I'm always moving my money into the next thing, next thing. So, you can ask my friends, you know, like Kenny Maroy, he says, "Hey, when's that when's that billboard deal coming together?" Good. Good, good. No, friend, man. When's when's this the property coming together? Good, good, good, good. I invest with other entrepreneurs. I don't invest on Wall Street. >> Have you ever lost money with an investment? And what's been your worst investment? >> My own my own company. But losing is part of winning. I think that's the thing that gets most people cuz most freaking school teachers tell you don't make mistakes. The reason school teachers are poor is we don't learn unless you make mistakes. >> You know, I I flew for the US Marine Corps. >> And as we as we got ready to fly into Vietnam, I was in Camp Pendleton getting ready to go through the gunship. Every day we had to practice crashing three to five times a day. We practice crashing. So when it cuz the odds are you're going to crash. So I went down three times in Vietnam, but every time the engine quit or I got, you know, automatic. >> There's a book called um The Big Print by Lawrence Leard. Everybody should read The Big Print. It talks about traditional education versus military education. I went to military school. First one we first word we learn at military school mission. What's your mission? So he talks about Lear talks about in military school you're always preparing for something to go wrong. That is very very true. Whereas in traditional school oh everything's you know sunshine and roses. In a perfect world, this will happen. But you cannot handle it. Like that first time I lost my engine. I tell you, it's terrifying. We're flying a strike into Vietnam. Thing has got 18 rockets on it, machine crew, boxes of ammo. We're all strapped in. We got leather. We got, you know, best. We're heavy. That engine quit. The reason pilots die is they pull back. What we're trained to do as Marine Corps pilots, when that engine quits, you push forward. They call out, "Look, you look at the eyes of death." >> So, I was only at about 1500 ft. When that engine quit, like boom, nose forward, cut power. The team was already prepared. Rockets were being kicked out. can of ammunition kicked out that fest going off and all this boom into the water. >> I I went over I went over to Vietnam with 16 men. Lieutenant Kiyosaki I came back with 16 men all alive all in one piece because we prepare for bad times. >> Although really quick I just want to say that when it comes to business they say that you could have better, cheaper or faster but you could only pick two. Well, what if you could have all three at the same time? And that's exactly what Coher, Thompson Reuters, and Specialized Bikes have since they upgraded to the next generation of the cloud, Oracle Cloud Infrastructure, or OCI. OCI is the blazing fast platform for your infrastructure, database, application development, and AI needs where you could run any workload in a high availability, consistently high performance environment and spend less than you would with other clouds. How is it faster? Well, OCI's block storage gives you more operations per second. How is it cheaper? Well, OCI costs 50% less for compute, 70% less for storage and 80% less for networking. And when it comes to better, OCI customers report consistently lower latency and higher bandwidth than other clouds. This is the cloud built for AI and all of your biggest workloads. And right now with zero commitment, you can try OCI for free at oracle.com/istic, guys. That is oracle.com/ist. There's also a link down below in the description. Completely free to try it out with zero commitment. Thank you so much to Oracle for sponsoring this episode. Now, really quick here, real talk, short form content has been one of the biggest drivers of growth for the Iced Coffee Hour. We'll take our best moments and then clip them up for platforms like Tik Tok, Instagram, YouTube, and more. But let's be honest, it takes a lot of time to do it correctly. That's why tools like our sponsor, OpusClip, are a gamecher. Opus Clip isn't just a clipping tool anymore, though. It's a full AI powered video editor built for creators. It can automatically pull in your long- form YouTube videos, find the best moments, add captions, B-roll, and even schedule clips to post while you're away. It's like having a full-blown editing team, but powered by AI. Top creators like Jubilee and Darmian are already using it. In fact, we already use it on the Iced coffee hour. If you see this clip that Togei's reacting to right now, it was made by OpusClip. So, sign up today. All you have to do is go to opus.pro/iced coffee hour to get started. Again, that is opus.pro/ic coffee hour or click the link down below in the description. Seriously, guys, I could not recommend it more. Thank you so much to OpusClip for sponsoring this episode. What is the most important failure you've experienced? >> I was court marshal twice and um you ever see that movie a few good men with Nicholson? >> It's been a long time. >> Yeah. >> He's Colonel Jessup. He goes, "You can't handle the truth." So what I was doing, for some reason, I like pretty women, you know. I just find them very attractive. I always got in trouble with my helicopter and Pretty Women. So I' I was in Hawaii station at Kaneoi Marine Corps Air Station. I go into Wy Ki, her head shaved, you know, and back then everybody had long hair. So they knew you were a Marine right away and they spit on you, you know. I came back from Vietnam, got hit with rotten eggs and spit on her, called names. terrible coming back as a as a marine as head of the serviceman. And um so we couldn't pick up any women. So I said, "Well, I got this thing called a helicopter." So I I talked to these young women. I said, "Want to go for a helicopter ride to a private island?" They go, "Some they don't see your hair anymore, you know." So I used to fly from Kaneohhi Air Station to the Air Force base next door to us, pick up the ladies and we'd fly to this private island loaded with beer and all this drinking and we partying going for the Mile High Club everything. I said I'm having the best time and I'm and so everybody hears about my little ventures I'm doing. So my commanding officer says, "Can I go with you?" "Sure, sir." Yeah. He's a colonel. I'm a lieutenant. You know, he goes, "Sure." So we go. We're partying away on this island, drunk skunks, and all this stuff. And one day I come taxiing back in to Aahu, the main island, and I shut my engine off and MPs are out. They open the door of my helicopter. First thing that falls out is beer cans. So that's federal offense right there. >> Then I fell out. I had no flight suit on. I was in swimming trunks and rubber slippers. In the back they find cans of beers, diving gear, everything illegal. And the mistake I made was I started to lie. And so they caught me. They put me under house arrest. I had a nice condo in Mikey Key. >> They put this Captain Abrams, nice Jewish attorney prosecutor on my butt. Oh, he was good. I thought I was good. I'm trying to cover my It was exactly like a few good men. They took the fuel logs and so they were checking my fuel logs and all this stuff and I was lying through my teeth and finally I was like I I couldn't stand it anymore. I was he caught everything I did. This Abrams great attorney. I mean I respect him a lot. So I'm sitting in the B amigos. So, Lieutenant, on this day, did you do this? Sir, I'm going to tell you the truth. The whole truth about the truth. I told him about every stupid thing I ever did. On this day, I flew women here. On this date, I did this here. This day, we did this here. And at the end of it, I think I lost 30 lbs >> because I was just so upset, you know, lying, tracking me down and all this stuff. I sat there like this and on the on the stand. And I looked up at Captain Abrams and I said, "How many years, sir?" And he smiled at me. He says, "You're free." >> H I said, "What?" just get the out of here. Honorable discharge. Thank you, Marine. And I said, "What?" He looked at me and he says, "Son, I'll tell you something. We all up. We all mistake. We all make mistakes. Just don't lie. Because when you lie about your mistakes, you become a liar. and that's the worst thing you can do. And it was one of the best lessons I ever had. So to this day, I have tremendous respect for the US Marine Corps cuz they pounded me. Oh, they pounded me. And this Captain Abrams, man, he was one smart dude. I don't know how he caught all my >> I mean, I was cheating every I was a on top of that was a top secret officer. So I had a lot of top secret files and all that. He tracked me down. And so when I saw a few good men with Nicholson and so Joseph Nicholson goes you can't handle the truth. I said that was >> how did that change your mindset afterwards? >> Don't lie. You up you up. God designed us to make mistakes. The way a baby learns to walk is to fall down. The way you learn to ride a bike is to fall down. Do you make mistakes? So God does I'm not really religious. That's not preaching here. The way humans were designed to learn is by making mistakes. So, I'm an entrepreneur. I made a lot of mistakes, but that's why I'm rich today. And those Uber drivers didn't want to go through that process. You know, I crashed three times. I have a broken back because of it. But we practice making mistakes. And I think our academic system is screwed up because most school teachers sing from the Bible of don't make mistakes because mistakes make you stupid. The facts are humans are designed to make mistakes and that's how we learn. How has only ever being honest and telling the truth positively affected your life? We had Kevin Olirri on this podcast a while ago. I'm sure you probably know who he is. He would say >> he's a smart dude, boy. >> He is a smart guy. And and he was saying the exact same thing that you're saying right now, which is one lie can destroy your life. >> Yeah. Exactly. >> One lie. And so he has made a pledge to only ever be honest. And that's part of why he is the way that he is. He's known as Mr. Wonderful because he's so blunt and cut and dry and honest. >> Yep. >> He he only says the truth. and uh and he credits that towards his I would say understanding that you should only ever be honest and never lie. >> Yeah, we all make mistakes, you know, that's how I I lost so many companies. We make mistakes, but don't lie about it. So, I've paid my bills, you know, I've lost several million dollars. I paid it off. >> But that's why I'm rich today. But those Uber drivers didn't want to go through that process. They went, "What's the quick fix?" I said, "Buy Bitcoin so I can't afford it problem." You know, >> Bitcoin is brilliant. By the way, I think it's brilliant when Ether Ethereum. >> Ethereum. >> Fantastic. You don't have to be that smart and you get rich. >> Yeah. A lot of people compare real estate with Bitcoin. They say Bitcoin is like a digital real estate in a sense that you're buying something that's fixed. What is your thought on [ __ ] What is your thought on real estate today? >> Real estate's a tough game. >> Do you think that prices for real estate are elevated to a point where it just no longer makes sense to buy? >> It doesn't make any difference to me. If it's too expensive, you don't buy it. >> Yeah. >> I love crashes. When the markets crash, that's when I get rich. Everything goes on sale. So people, well, what you know, today the today as this was this September 2025. >> Mhm. >> The S&P is at alltime highs. I'd be out cuz it only go one more direction down. >> Do you expect a crash in the near future? And how do you get rich during a crash? >> Well, that's what I was talking about Zimbabwe when I was there. When I when I saw that crash, I said, "This is great." The sad thing what happened in Zimbabwe was I was talking to this young entrepreneur about your age. He lost his nerve. I could tell he was smart. He had that I said, "You live in one of the richest." Zimbabwe is one of the richest countries. It's a gold country, man. There's so many gold mines here and all this. I'd be on I'd be like a cheap suit. He lost his nerve. I've seen it happen. When a pilot loses their nerve, we take them off the line. They can't handle the They just can't handle it. I mean, people is tough. You know, when I was flying in climb, flying into combat, we used to put rock and roll music on to cuz we had to jack ourselves up. >> When you see your friends go down and you never see them again, it's just takes your heart out. You know your friends don't come back to the carrier gonna cry but the next day strap in going back at it again. That's what I loved about the military. It was mission first. You didn't count. So I made young men especially go, you know, where's your testicles? Get up there and fight hard. But they don't do that to you know my friends who are now like generals and things like this they can't fight men. So Marine Cors have a tough time finding men. >> So on the topic of a possible incoming crash do you expect some sort of a stock market crash and how can you get rich during the crash? >> Everything goes on sale. So um I don't save dollars. I only serve gold and silver and Bitcoin and Ethereum. I don't save this stuff. So in a crash, gold, silver, and all that, what they do is they print more money. When they print more money, those go up in value. So my gold goes up, silver goes up, Ethereum goes up, Bitcoin goes up. So you got to know in a crash, those goes up, crashes goes down. >> It's the same as flying an aircraft, you know. So, I like crashes. The reason I'm in Phoenix, Arizona is in 2008 when it crashed here, the best real estate on earth went on sale. >> I bought I bought so much. It was incredible. The banks were happy to see you. >> There there is this belief now though that we're not going to see a crash anymore and that if we see the markets drop, the Fed can come in and just print more money and bail us out. How does it change your investing philosophy? >> Because when you print money, the rich get richer and the poor and middle class get poorer. The reason we have homelessness today is because we have a Federal Reserve Bank. It's a criminal organization. Anything that's a central bank is Marxist. So the Fed is Marxist if you understand that. So Thomas Jefferson said, "If we allow somebody to take over our money, which the Fed did, people wake up homeless in their own lands." Look at homelessness is exploding. People can't afford homes. Your age is having tougher tougher time because prices are so high. When you print fake money, which this stuff is, you make life harder on people. But guys like me who have assets, you print this, this goes up. But if you print this, the price of coffee also goes up. So inflation is going to wipe out my generation. The boomers don't have enough money to get through inflation. They're going to be the boomers are going to be homeless all over the place. What about the argument that AI is going to help bring down the cost of a lot of items and that we might not see as much inflation over time because we could start doing things for less. >> AI is going to cause unemployment. So AI's what happened was the industrial age took out the manual worker, you know, the the the guy worked with his hands. >> AI is going to take out the doctors and lawyers. I don't need a lawyer anymore. AI does it for me. So you're going to So there's going to be good and bad to it, but I don't really give a if you understand money that the way the Fed operates, which is a Marxist organization, they're going to print. Like I said, I was in Zimbabwe. They printed to solve their problems and they kept printing and it collapsed. I went to watch how they they couldn't trade because this was the Zim dollar was worthless. So I'm in Harare Northern Bulwayo Zimbabwe and then there a thing called United Nations and in the back of this garage all these people were coming together. It was like a big swap meet because the money was no good. They're saying I got this for that here. I'll trade you my watch or I got some I got some tomatoes for sale here and they went to a barter economy that fast. So when I when I tell you guys I was in Zimbabwe Africa goes where Zimbabwe but America is following Zimbabwe right now saying prepare for it. What Zimbabwe did was they printed money to pay their bills. We print 2 trillion a year. That's why Trump is trying to stop, but there's people will take him out for that. >> Yeah. Do you think for the average person, given what you've just said, should buy or rent a house? >> It's an expense to me. That's all it is. If you don't, the problem is if you don't make enough money like that Uber drivers, those two of them rent in a row. Well, I don't have time to read your book. So, thank you. Bye. But if the average person needs to live somewhere and they say they're going to print more money, there is the belief that real estate as a result of that person more. >> Don't ask what if questions. Look, I own 1,500 rental properties. I'll just go sleep in one of them. How many guys do own? >> Seven. >> So, I'll just keep buying. >> No, it's it's a serious >> Yeah. Thomas Jefferson said if a central bank takes over which the Fed is >> people wake up homeless in their own lands and that's what's happening today. I look at the people who are homeless now you can say well they're on drugs or mentally deranged and all this stuff which is probably true but it's getting harder when you print money the rich get richer and the poor and middle class get poorer. So if you own a house and you print money, you feel, oh my price of my house went up. But the average person, so the price of chicken and eggs and yogurt goes up and inflation wipes them out. So mark my words. I'm a boom. I'm the first of the boomers. We're going to get wiped out via inflation. Your mommy and daddy may be on the street because inflation is going to wipe out the social security. When's the last time that you were wrong about a prediction that you had made? >> Never. >> Never wrong. >> As long as they're printing money, you can predict what's going to happen. It's happened throughout time. The Romans did it. The Chinese did it. Hitler did it. They all do it. >> What are your price targets for something like Bitcoin, gold, silver? >> I have no price target. I have an entry and I don't sell. So like right now to me the biggest bargain is silver. So silver is about 40 50 bucks >> and Ethereum I think is very good right now. I stopped buying Bitcoin. >> Why? >> Too high. >> I've seen so many predictions that Bitcoin is going to hit a million 5 million. >> So So if it's too high, why not sell? >> I don't need the money. I don't need money. I got 1,500 rental properties. I own oil wells. >> Yeah. >> Money keeps pouring in. I got to keep moving my money around. I invest in assets. Let me give you the three rules of rich dad, poor debt. The rich don't work for money. The rich work to acquire assets and in assets and that puts money in your pocket whether you work or not. some my little oil wells, you know, I'm investing in billboards now, >> and the billboards are going to be outside of Las Vegas, right? >> And they pay every month they pay you money for those billboards and I get bonus depreciation. >> Okay. >> So, I I'm always moving my money. >> What's the ROI of a billboard? >> I'm always What's the ROI? The >> I have no idea right now. It's just being put together now. Yeah, >> it's bonus depreciation. So, I put a million dollars in, I get 5 million depreciation. That means I don't pay tax. >> What would you say is the worst financial advice you've ever heard? >> Warren Buffett is for average people. He's a smart man. But I listen to him. I go, >> "So, we actually have a a a video I'd love for you to react to." >> Warren Buffett speaks for the average man. And my my saying to you guys is don't be average. You want to be the best at what you can do. >> I want to get your thoughts on what Warren Buffett said on leverage. This is what he said. >> They risked what they did have and did need. And that's foolish. That is just plain foolish. It doesn't make any difference what your IQ is. If you if you risk something that is important to you for something that is unimportant to you, it just does not make any sense. I don't care whether the odds are 100 to one that you succeed or a thousand to one that you succeed. If you hand me a with a thousand chambers out, a million chambers in it, and there's a bullet in one chamber, and you said, "Put it up your temple. How much do you want to be paid to pull it once?" >> So that's on leverage. That's why take a risk in anything if you don't need the extra money. >> What was he talking about? He has the biggest leverage of all. He has an insurance company. That's massive leverage. The reason you own insurance companies is is because insurance companies have to keep placing their money. You want to get rich, you buy an insurance company. He's full of he's smart guy in his field. My whole message to everybody is this. Find out the best field for you. For me is real estate and oil. I'm very good in those two fields. And now billboards. Hm. >> I love gold and silver. I have a gold mine in Utah. I took it public the New York New York Stock Exchange. So, one of my goal was to list a company on the New York Stock Exchange. So, that's what entrepreneurs do. Our goals are different. The average guy says, "Oh, I think I'll have a ball diversified program in a 401k." That's not my goal. You know, it takes no no intelligence in a 401k. To me, it's a waste of time. >> I can I can beat the 401k all the time. I'd rather have oil wells that pay me every single month. Guess what? Every month they're going to burn that oil, you know, every month. And every month, because they're burning that oil, I get a deplation allowance, which means I pay less tax. So, I make more money and I pay less tax. To me, that's smart. To put my money in a 401k, I must give it to Warren Buffett. Nothing wrong with that. >> Yeah, >> Buffett's a smart boy, but his thing on leverage, he's talking about the average guy, yet he bought an insurance company. I think it was Geico or something like that. Insurance companies are the biggest leverage there is because they have to leverage your money. you know, if you you going to put $200 in, they have to be able to pay you your money back later on. So, he doesn't tell the whole story and he didn't he didn't call he called gold rat droppings or something like that. >> That was I think Bitcoin he called Bitcoin ratings. Yeah, >> he's entitled to his opinion. Fine. But each of us has to find the way that makes the most sense to them. I like Bitcoin. I like Ethereum. I like gold. I like silver. I like real estate. I like oil. I don't like stocks. If you like stocks, invest in them. But be good at it. You got to be very, very good at it. Is in the most important thing. Don't lie. You make a mistake. Mistakes are very good ways to learn. Wow, I screwed up here. >> Yeah. >> People who lie about their mistakes don't learn. >> When it comes to investing in stocks, what do you think about investing in index funds or ETFs that track the market >> for losers? my opinion. >> Yeah, >> but if you're a loser, have a good time. >> Graham's a loser. Graham like index. >> But tell me wrong, >> it's not exciting. It's boring as >> That's why I like it, though, because I don't have to worry. I don't have to think you cuz here's the thing. When you when you're talking about owning all these rental properties and billboards, to me, that just seems like mental energy that gets tied up. And again, you you you've said before, you do what works for you. Yes. And when I think about something like my rental properties, I can't stand them because when something gets fixed, I look at the bill and I think, how could I have done this for less money? Is this a good bill? I start itemizing every little thing, >> you you're missing property management. >> I have a property manager. >> Yeah, I don't do that [ __ ] >> See, here's what bothered me. I had >> I don't do that [ __ ] Okay. >> I'm not a laborer. >> But how do you know that you're not getting ripped off? because I have good property managers. >> Kenny Mackoy is my partner. >> You should read his stuff. You know, >> we've been told by a few people we should have him on this show. >> Yes. >> The man is a freaking genius. I mean, the thing I love about Kenny, he's funny, you know, but he's one of the smartest entrepreneurs I've ever met. So, when I have a question, I talk to him. The same as my tax guy, Tom. Wheel right taxfree wealth interview him I want to find out oil as my friend um Mike Moselli said I just want the cash flow I don't want capital gains I don't want that I want cash flow I want as much debt as I can get and I don't want to pay taxes that's my game >> yeah I think when it comes to me in real estate though I'll give you the uh the refrigerator example because it still bothers me after a few months I I had a refrigerator ice maker just like this that broke. And so the tenant called the property manager. The property manager sends me a bill and I see the bill and it's already paid, already done, but it was $1,200. And the refrigerator was worth $700. And so I said, "We spent $1,200 to save a $700 refrigerator. That doesn't make sense. Where did we go wrong on this?" And that little discrepancy took my focus away from doing anything else that would have yielded a higher return than me focusing on the refrigerator. And you could say, "Don't worry about it." You know, it it doesn't matter in the big picture, and it really doesn't. But stuff like that, I can't help it. It's just how my mind works to optimize every little thing. And so, the less I have on my plate, and the more I could just focus on doing something like this, that gives a way better ROI than that refrigerator or the property. That's the way I think of things. So, I just want to outsource and just index fun. >> Okay. I will say the mentality of I can't help the the way that I believe like that my mind is going to react that way is a complete copout. You absolutely can. That's true. So, you can choose at any given moment to feel however you want to feel. You could choose right now to be like, "Okay, I'm never going to think about that again." So, that's that's a copout. I just want to say that. I'm not going to let you say that and just be like, "I'm just the type of guy to get really upset when something happens." You could choose to fair. Yeah, I agree with that. You're looking at the property management side. I look at real estate the finance side. So who else is going to lend me like I borrowed how much did I borrow last week or 25 million? Who's going to give me 25 million to buy the S&P? But real estate they do. Debt is the way I get rich. So Buffett's saying debt is no good. That's Buffett's plan. This is a great program because what we're saying is find a way that works for you. >> You know, you're fighting with a refrigerator. I'd rather get $25 million in cash to buy the damn place and hire a property manager. You know, speaking of debt, I would love to hear your opinion on this. We had Dave Ramsey on this podcast and I asked him a question. I want to hear your your thoughts on his response. If you could borrow $1 billion 0% interest for 10 years, would you do it? >> No. >> Even though you could put it in treasuries and pay it off after the 10 years, you could lock in 10ear treasury right now. 10 or 5%. >> No. No. It's not worth it. I don't borrow money. >> There we go. What do you think about that? >> That's Dave Ramsey's formula. Unfortunately, he's really shortsighted. What he doesn't understand is 1971 the US dollar became debt. If you stop borrowing money the US economy stops. So he says live debtree. He's actually unpatriotic. I borrow money as a patriot because when I borrow money I create money. Money is only money only comes into existence after 1971. when we borrow money, it's but it's his formula. But he and I have have gone around and around on this live debtree or something good. >> Although, really quick, if you're looking to cut back on expenses without really changing your lifestyle, looking at your phone bill is one of the best places to start. Most people are still paying60, 80, or even $100 or more for something they barely even think about. That's why we're excited to be partnering with today's sponsor, Helium Mobile, because they're doing phone service completely different. I kid you not, Helium has a plan that is literally $0 per month. It gives you 3 GB of data, 100 minutes of calls, and 300 texts, no contract, no credit card. And yes, it actually works. It's absolutely perfect if you're just a light user or you want a cheap second phone line. And with the Zero plan, you'll also earn cloud points. Think like credit card or airline points, but literally just for using your phone. You could redeem those cloud points for gift cards to places like Amazon, Apple, Target, Starbucks, and more right from the Helium mobile app. It's one more way that Helium helps you save and earn at the exact same time. They also just launched the Sprout plan made specifically for kids. For just $5 per month, your kid can get their own line. You monitor their usage, and you can even manage how they spend their rewards within the app. And if you need more data, they've got the Airplan for just $15 a month for 10 GB or the Infinity plan at $30 a month for unlimited. Still way cheaper than other carriers. So guys, we've left a link down below in the description to try Helium Mobile today. Just make sure to use the code coffee to get $10 in Cloud Points, which can be redeemed for gift cards to your favorite brands after 90 days. Once again guys, there's a link down below in the description. Thank you so much to Helium Mobilebile for sponsoring this episode. Although, really quick, let's be real. No one is starting a business for the joys of calculating tax withholdings or keeping track of payroll deadlines. But that's the stuff that has to get done. And thankfully, our sponsor, Gusto, is there to help. It's so funny, but I've actually used Gusto long before they decided to partner with us on this episode. In fact, when I created my first ever escorp, Gusto was there to help because I had no idea what I was doing. From tax filings to benefits to deadlines, it was extremely overwhelming. But Gusto walked me through everything step by step and I've been using them ever since. Gusto is an online payroll and benefits software built for small businesses. It's all-in-one, remote friendly, and incredibly easy to use, so you can pay, hire, onboard, and support your team from anywhere. They've got automatic payroll, tax filings, direct deposit, health benefits, workers comp, commuter benefits, even 401k options. Everything you need, but without the headaches. And they have options for practically every budget. You also get unlimited payroll runs for one monthly price. There are no hidden fees, no surprises. Plus, they have certified HR experts you can reach out to if anything tricky comes up. It's quick and simple to switch to Gusto. Just transfer your existing data to get up and running fast, and you don't pay a single scent until your first payroll. Try Gusto today at gusto.com/ ice, and you can get 3 months for free when you run your first payroll. Seriously, guys, I've used Gusto for 5 years. All of my friends that have created Escorps and need to run payroll, I tell them all to use Gusto. It's amazing they're sponsoring this episode cuz I really do love the service. That is gusto.com/istic. Again, gusto.com/istic with the link down below in the description to get started today. Thank you so much, Gusto, for sponsoring this episode. And now, let's get back to the podcast. Have you ever spent time with Dave? A little bit. Like I had dinner with him one night and I said, "How do you think this guy pays for this building?" He says, "Debt. Debt. 1971. the dollar became debt. So just understand that. So in my point of view, when I'm borrowing money, I'm creating money. >> Do you think there's any peace of mind that you have owning a paid off house, no debt, no credit cards, everything you buy is yours. >> Yeah, but that doesn't make me peaceful mind. I like my game. Yeah, >> I like buying something as big as I can, using as other people's money as much as I can. It's my game. Don't do what I do. I like my game. The first, you know, when I came out of the Marine Corps, I had to learn several things. I had to take sales courses. So, my rich dad says, "If you can't sell, you can't be an entrepreneur." Then after that was how to raise capital debt. And that's when I found out. He says, "You better get to know your banker." And so I plan my future by, you know, what I did every day. I don't just jump into it. So I got to know my banker fairly well. Then I got to know my accountants and then some I like, some I didn't like. So today we have the Rich Dad Advisor team. My accountants Tom Wheelright. I asked all of them to write books to tell people what they do for me. My accountant on the corporate side is Garrett Sutton because I use corporations to shield my protect my wealth but also limit taxes. So I don't I don't come into this just guessing. >> Mhm. >> Do you think money buys happiness? That you become happier the more money you have? >> I do. >> Is there >> Have you ever been poor? I wouldn't say poor poor but definitely growing up things were paycheck to paycheck. >> Yeah. It's not happy. I buy like what I want to buy. >> At what point do you think money slows down? >> If you sell your value system, your soul, you're doing what you hate to do. I love what I do. Like I went back to Zimbabwe to teach. I work for free. I don't need money. I have so much money coming in. I can work for free. I would hate it if I couldn't go back to Zimbabwe and have to charge them money. I work for free because I have so much money coming in from assets, not from a job. >> Have you seen many people sell their soul? And when they do, what does that do? >> Every day is cool. They go to work. I see on the highway every morning. >> Yeah. I don't disagree with you. I remember I went to a doctor's appointment recently and I went right after lunch and so I'm watching some of these doctor's assistants coming in and they say, "Oh man, it it was Friday." They said, "Only four more hours until we could get off work. What are you doing this weekend?" They're all talking. And I remembered briefly I I was working like this 9 toive job doing data entry when I was 18. And I remember that same feeling where you would dread Sunday because you had to go to work on Monday morning. And I remember thinking on Fridays, oh great, one more day left. Only 3 hours to lunch. And then after lunch, oh great, only 3 hours left until I'm off. I'd be so happy on on Friday. Then Saturday, I would think to myself, "Oh man, Sunday I have to go to bed early because Monday I have work." And I remember just thinking I never wanted to experience that ever again. >> I thought about that a lot too, you know, like and my best friend who who he and I both became billionaires together. And uh he taught me a very valuable lesson. He says you start work on Sunday. Went what? He just reframed it. You know, so we'd go into we worked at Xerox together in Lilo. >> Yeah. We'd go to work at get our own key. We do all of our work on Sunday night because we got more done and we we we submitted proposals Monday, Tuesday, Wednesday. We had Friday, Saturday, Sunday off. >> What do you think is the best use of spending money that you found? >> Education. Like I said, I mean, I'm I'm, you know, I I get one of the benefits of my job is people want me to come and speak for them. So, I get to go, "Oh, I can attend a seminar." And I get to hang out with some really smart people, you know, in the in the green room. That's how I met Trump. >> Yeah. >> You know, Trump and I hanging out in the back room going and he goes, "Who are you?" I was and we just and he he's he's the best guy. He and his sons Don Jr. and Eric, man, they're good kids, you know. And we became best of friends sitting in the back room together. >> When was this? >> Oh, years ago now. >> What was your first impression of him? >> I think the same as everybody else is. Kind of a a presence, you know? He's I mean he exudes power. He is a very powerful man. Don Jr. and Eric Eric Trump were hunters and we go this is private island they take women to in Hawaii. We do it legally this time and we fly there. We have no toilets, no running water. Those young boys ask no quarter. They're extremely well-raised young men. I can, you know, if I had sons, they would be like those two guys. They're the best. Tough, mean, not mean, but strong, strong men. What have you learned from Trump? >> That's a good question. Just I can call him. He's very accessible. >> How often have you called him? >> Very rarely. >> And when you do, what do you ask? >> Well, generally I said, "Where, hey, where's Don and where's Don and Eric? We're going hunting together. Now it's just fun. We're just friends. We wrote two books together and we'd write and as he'd say so I got to understand how he thought I said here's a problem you know and the book the book was called the mightest touch how entrepreneurs so why some entrepreneurs get rich so I had to sit with ask so how would you do this and he he's most generous he's a very generous man his whole staff in New York City just the best people there was Rona and Meredith and all this. His bodyguard Keith. He and I had the body just a great just really good people. They're not arrogant. They're not cocky. That was the most surprising thing about hanging out with them. >> How do you think Trump raised such strong children? >> They said that um I asked that question. >> Yeah. >> Said their mother kicked her ass. No. And they had a sister, you know, her name Vano. >> They're just good kids. Just really solid. Yeah, man. >> Really, really solid. I mean, you you're sitting out there, there's no toilet. You got to do your whole >> We had to eat what we killed. And they don't they don't wimps. They're just solid good guys. >> What was your last conversation with Trump like? >> It was um we're supposed to write a third book together. And I said says, "Robert, can't do the book deal with you. Going to let me out of it. We have three book deal." >> Mhm. >> I said, "Sure, you're out. Why am I going to hold it?" >> Yeah. I said, "What are you doing?" He says, "I'm running for president." I said, "Good luck." That's all I could say to him. The next thing you know, he's coming down the stairs. You know, >> would you ever want to be president? >> No, that's a He is, you know, the guy Jordan Peterson. >> Yeah, we've had him on the podcast. >> He's a man, he's a smart dude. Jordan is, but uh that's I got to hang out with those guys in green rooms. So I was hanging with Jordan Peterson and all this stuff and he was talking about Trump, you know, and Jordan as I was saying. He says, "You think tough men are bad, weak men are the worst." Something like that. Jordan says something like that. >> And so he says, "Trump is a strong man. That's what we need at this time." Could you imagine if Kamla had won or Joe Biden's crime f family? My god. So, we needed a tough man at this time. I know people hate him. My family hates him, but he's a tough man right now. >> How do you think politics affect the average person when it comes to their money? >> Well, they pay taxes. >> That's true. No, I mean it's to me it's really simple because I was in Zimbabwe last week. >> They went bust because they printed money to pay their bills. The United States, what was it? 36 trillion in debt. >> 37 now 37. >> It's almost 38. >> 200 million. Let's say 350 Americans. 200 million are on some kind of government subsistence and my whole family not all of them their idea of a good job is getting a government pension so it's in your value system I don't want a government pension but there's are there's so many of our school teachers they want that government pension and that's the 200 million that are part of this social security disaster we have coming. And so I I said young people like you, you know, study Zimbabwe 2002. I had my hands up like this. I'm going law and order breaks. Law and order broke down. >> If you were the average person, let's just call them in their 20s today and you were starting from zero, what would you do? >> I learned how to sell. You know, I like network marketing. I tell people to join network marketing. I said, why is that? This is because you learn to take rejection. You know, if you can't take rejection, you can't be an entrepreneur. You know, it's probably the, you know, everybody likes to be liked. >> I like to be liked, but man, you can handle rejection. You got it made. So, network marketing, the guys I hang out with, they're just really good. Oh, another another guys are really good are Mormon missionaries. Man, those guys take a lot of rejection. I I hang out with several of them. Go, how'd you guys do that? You know, how did you do that? You know, and they said, man, you knock on the door. I'm in the US. I'm from the Mormon church. >> Yeah. >> I said, Jesus, the best training you could got. >> How do you not take that personally? And how do you saleserson? >> That's the trick. If you're like a they call a snag, a sensitive new age guy, it's hard to get ahead. But there's so many people they take things so personally. And I told I I should have mentioned the names, but I won't mention it. >> I told this one person, "You charge too much money." They got so upset with me. Said, "My friends are complaining about you. They can't take feedback. Feedback is how we learn. >> How often do you get feedback where people come to you and say, "Here's my thoughts about what you're doing." And how do you know whether or not to listen to somebody? >> That's a tough That's a good question because a lot of times I'm a I have such a nice temper. It's not good. It's not healthy. So, I've got to learn to control my temper >> and actually seek the feedback. It's a discipline I have. Things change as you age and do better and all this stuff. So, u life's always about change, change and growth, personal development. Um, I like what you guys are doing, like I said, and I I love YouTube. There's a lot of characters on there, you know, a lot of >> a lot of But I listen to them, too. You know, just keep your mind open and chug along. But how do you decide what to listen to and take to heart and maybe make changes versus someone just giving you advice that's maybe incorrect? It's a risk you take. I think the most important lesson I learned was I studied with a man named Dr. R. Buckminister Fuller. He's got invented the geodessic dome. So if you go I went to the Montreal Montreal World Expo in ' 67. The US pavilion was Bucky Fuller's dome. And I'm in there with my classmate that way. But I had studied Fuller. They considered one of the greatest geniuses of our time. I'm studying with Fuller. This one, look at this thing. So I went to study with him. The lesson I learned, choose your teachers wisely. So once I understood that I want to study with Fuller, I tracked him down. So when he gave a seminar, I went to listen to him. So I studied with a Fuller for three summers. You once once a year and once once in Hawaii, once there. And I sat there with him and he asked me about a class about 100 people. >> And I'm sitting there. I'm kind of I don't like to share anything. I'm s by myself. And he kind of said, "Hey, what's your life's purpose?" And here he is, the world's greatest genius, Buckminister Fuller. You know, John Denver wrote songs about him. All this stuff, I'm going to get rich. And in front of a hundred people, he chews me out. Young man, young man, young man, getting rich is a waste of a good mind. Went, what? So, here's all his groupies who love him. I'm getting my ass chewed up by Bucky Fuller, you know. And he goes, "Well, what am I supposed to do?" He says, "Ask yourself this, young man. What does God want done?" Said, "What? What does God want done?" Not what do you want to do, what does God want done? So I'm hurting inside >> cuz he chewed me out for a hundred people. >> You know, nobody's like get chewed out. But the lesson hit me. It says, "What does God want done?" So this was studying. This is in Reno, Nevada in the mountains. So I left there and I said, "What does God want done?" I thought about it and thought about it and thought about it and I created my cash flow board game and I wrote Rich Dad Poor Dad. I said there's no financial education at schools. I think if I was God that's what I would want and that was in 96 and 97. And now those board games have gone all over the world. >> Did you know when you wrote the book that it was going to be a hit? I have flunked out of high school twice because I can't write. >> It's not that I can't write. Teacher didn't like what I was writing. >> But the question I leave for go young men like you, >> what does God want done? Even though you can see it. And for me, I was just kind of naturally interested in money. So I naturally studied money. And um so when Dave Ramsey says live debtree I said well if you understood money Dave you know you stop borrowing money the economy stops what are you going to do you know you could answer the question when's the last time you changed your mind on something >> all the time. All the time >> in any significant way anytime in the past few years or recently? >> Recently. Yeah. like going to Zimbabwe, you know, I said there. >> How did that change your mind though? >> I realized I made a promise back in 2002. There's a poem by I I wrote about it in Rich Dad Poor Dad by Robert Frost. The woods are lovely, dark, and deep, but I have promises to keep. And miles to go before I sleep, and miles to go before I sleep. The title of the poem was the roadless traveled. And I said, "What am I supposed to do?" And I said, "I'm supposed to come back to Zimbabwe and teach." And I said, "I get paid zero." But I made a promise to those people in 2002 I'd come back because I have promises to keep. So now my cash flow board game's there. >> They're teaching everybody. I'm donating 120 games and they're going to start clubs all around Zimbabwe to teach people money. Come up because I've kept the promise I'm going to teach these people or allow them the possibility of learning cuz they're not going to learn it in school. >> No. >> The one of the richest countries in the world used to be called Rhodesia. Now it's Zimbabwe. The biggest financial disaster in history took place there. the Zim dollar. The US dollar's next. So, I'm practicing. >> How do you now define wealth or success now that you have basically all the money anyone could ever ask for? >> What does God want, Don? >> So, you ask yourself that, come to an answer, and then pursue that. What emphasis do you place on legacy? >> Not much. When I'm dead, that's it. You know, >> you don't have any children. No. What are you what are you going to do with your money? >> That's going to um my ex-wife. She's going to manage it. Now, I have that's going to be a big foundation and all that, but I haven't decided how that's that's a project I'm working on now. That's a very important question. >> What's one daily habit you never will skip? I get up every morning and take um I read I wouldn't call it spiritual but the kind of spiritual readings and I don't just read it I write it and I write it three times. So maybe a paragraph because I studied from Maria Monttoauri in the Montasuri school system great entrepreneur. She says what the hand does the mind remembers. So if I just read spiritual words when I have to write them it embeds. So that's one habit. I get up and I basically not plagiarize. I'm just >> Yeah. >> Oh nice passage. I write it three times. >> Cool. >> And I set the day off with that. >> Who would you say is the biggest mentor or influence on your life? >> Buckminister Fuller. The happiest thing about my life is um kind of not really religious, but I believe there's a God and there's vibrations that we go through in life, you know, like I feel good here, go someplace else, you don't feel so good. >> So, I'm going to do a whole series with another guy on Bucky Fuller now. >> So, like you guys do ice coffee hour, >> I'm going to do one on Bucky Fuller, the greatest changes of our time. And that makes my heart happy. So that that's that's God telling me you're on course because the frequent, you know, the it feels good. That's good. >> If you were to finish this sentence, money is blank. What would you put in the >> freedom? >> Freedom. >> Cool. Robert, thank you. Thank you so much for coming on the ice coffee hour. This was honestly a blast. This was an honor, a pleasure. Your insights are phenomenal. I love not only like the money and finance conversation, but also just the life and everything. And I think it's also interesting what would God want? Asking yourself that and then just gearing your actions towards it. >> Yeah. What does God want done? And then go do it. >> Thank you. This is an honor. Appreciate it very much. Till next time. >> Thank you.