Why 'Living Below Your Means' Is Keeping You Poor

and I'm very concerned about this growing gap between rich and poor it is now so big and dangerous I mean the middle class today is getting poorer and poor and poor because you know our school systems teach us nothing about money what does school teach you about money nothing so I mean what do you expect so there's in America today at one time the richest country in the world America is now the biggest DET nation in the world we're printing a trillion dollars every 90 days how long it take to spend the trillion dollars I

say it's all the time you spent $1 a second it would take you 31,600 88 years to spend a trillion dollars but we're printed every 90 days we're bankrupt so I hated school you know school's education is important but what do school teach you to become so this is book number two in Rich Dad Poor dead schools tell us to go to school get a job or be self-employed like a doctor or a lawyer you know smart person this was richdad here richad says once you become a business owner an entrepreneur like Elon Musk or

Steve Jobs Apple is still one of the biggest companies around and I stands for Insider now people will tell you Insider investing is illegal that is not true it's all Insider the only question is how close to the inside are you and most of these guys aren't even close to this they have 401ks mutual funds ETFs all the garbage like like Tony Robins sells or other people my friend Dave Ram he says live debt free I don't do any of that stuff so if you want to follow them follow your teachers but I just don't

like that and I'm very concerned about the gap between the rich and the poor because these guys are getting poor and these guys are getting richer that's my concern it's dangerous so let me explain something to you how many people have been told live below your means let me say it again how many are told live below your means it's the biggest lie told who likes living below your means do you think the poor like being poor you think the poor like fine dining at McDonald's you know I mean I mean most of us want

to get rich but of course our school systems teach us nothing about money and that's not a mistake when I researched how come our schools don't teach anything about money it goes back to some of the richest people on Earth The Rockefellers I work for the Rockefellers Standard Oil they understood oil I went to school for oil I drove oil tankers so anyway I learned from the rich so the reason live below you means is ridiculous is because you don't get rich eating at McDonald's I don't care what you say you have diarrhea you probably

have garbage in your guts and all this stuff you're probably fat and ugly but eating at McDonald's won't make you rich sports fans I mean occasionally I'll dine I was Hawaii a few months ago I liked it you know good food tasty it's all that not good for you but I enjoyed it okay but this is how you get rich not living bull of you means it goes to this this is book number one this is Rich Dad Poor Dad and that's this game here the cash flow board game which is came before the book

Rich dead for the this came out in '96 Rich dead came out in 1997 so the way the rich get richer by not living below your means is you have your assets this is income statement this is financial literacy vocabulary income expense asset liability statement of cash flow what they should teach you at school I I just taught you you know the most important parts about financial education in 5 seconds any idiot including college professor could understand this but they don't know how this thing works here so the way I get richer by not not

living below my means is because my assets buy my liabilities let me say that again so I was just talking to my crew here the latest car I bought it's a 500 Shelby GT not not very expensive car but do I need a 500 GT no I also have Ferraris rolls-royces and all that Ferraris rolls-royces a nice house they're all liability definition of a liability is if it takes money from your pocket it's a liability assets by definition put money in your pocket could it be that tough I mean could it be that t is

this financial literacy assets put money in your pocket liabilities take money from your pocket I mean even a a college professor can understand that one so all I do to get rich when I wanted my Ferrari and it was like $600,000 was beautiful I've had four Ferraris they're gorgeous I recommend them for every young guy who needs sex it'll get you there pretty quickly you drive up with a Ferrari or you can drive up in beat up Toyota the positioning is a little bit different here all I had to do was find the asset and

paid for the Ferrari Tada you just got it your job as young people is to learn the definition of an asset an asset puts money in your pocket whether you work or not so my friend Kenny maoy and I own apartment house when I want to buy a Ferrari I just called Kenny up and I said Kenny I need about $500,000 a pay for my Ferrari to the deal done so I bought the asset paid for the Ferrari T you don't have to go to med school or MBA programs all the garbage they teach you

to understand that let's play this cash flow board game this is the board game here you know have fun learn train your brain to think like a capitalist not a Marxist most academics are marxists nice people but they're freaking Marxist you know like for I won't mention any names but she running for office right now this is November 2024 assets buy your liabilities you know I was just saying to these young guys here I've never had a Kenny maroy and I never had Shelby GTS you know Carol Shelby built he was Ford versus Ferrari this

guy Shelby was another entrepreneur like Elon Musk or Steve Jobs he says I think Ford can beat Ferrari since I own Ferrari it's kind of pissed me off I say listen to this guy Ken mroy and I said let's go buy a Shelby said I'm stuck in traffic with a $600,000 car going nowhere why do I need a Shelby you know what I mean it makes no sense but but the other day because of you two guys in front of me shooting this video I said maybe I should buy a Shelby all I have to

do is buy the asset that pays for the Shelby but that takes Financial IQ how do I find this and that takes practice Two Gentlemen sitting in front of right now Josh and PJ your job is to make sure my videos Mak enough money to pay for my Shelby I mean the two of you are Geniuses your job is to create this to buy that but what happens to poor people is they live below their means they never come here when they drive a beat up old car think I'm living below my means I'm really

smart and living debt-free how stupid is that when all you have to do is learn to be an entrepreneur learn how to find assets that pay for your liabilities ex-wife Kim said just go buy an asset and that caused me to go and search and look can do this and my first Ferrari I bought a self- storage unit in Austin Texas and the self storage unit bought my Ferrari guess what Ferrari's gone still have self storage unit it's still putting money in my pocket it's that simple it's a matter of structure of thought it's discipline

can you keep your discipline can you keep focused don't yourself don't other people bullsh at you your assets buy your liabilities poor people have liabilities never buy their assets nice house nice cars nice women but they're broke not very smart again as a concerned citizen this gap between rich and poor is too wide today it's dangerous we have Marxist teaching our school systems today so that's why ladies and gentlemen invest in your financial education and let your assets buy your liabilities so young people and parents and even you old guys like me if you really

want to change the way you think this is the cash flow board game I built it with my wife Kim in 1996 before there was richad the reason we buildt this board game here is because Maria montor great educational entrepreneur of the monory school system says what the hand does the Mind remembers so I learned everything just playing Monopoly four green houses 1031 red Hotel I own red hotels all over the place I play games other people went for their NBAs and learn nothing come up with student loans thanks to Barack Obama the guy who

pushed more student loans than anybody else he's a drug Pusher of this guy Obama today's student loans are $1.8 trillion drain on society just because it's communist Obama and his wife shell they want you to go to college and learn nothing about money if that's not a conspiracy if that's not anti- capitalist I don't know what is so don't listen to guys like Obama he's from Hawaii he's what they call a Royal Hawaiian a black guy but he thinks the best way to get rich is to become a Marxist and tell other people what to

do I don't like him and Trump is my really good friend I know some people hate him but if you don't like Trump then vote for Obama you know what I mean either voting capitalists or marxists cash full board game here is to educate you it's design trying to teach you to get your brain firing so you're having fun I learned at playing Monopoly but what separates this game from Monopoly is this here it's called a financial statement this is what your Banker asks for my banker has never asked me for my report card you

seen my Bentley out here my license place is 1.9 GPA I'm proud of it I was a dumb but I'm very good with my financials my banker wants to see this not my report card so when you guys want to grow up and stop listening to like Obama and Kamala and all those other woke people grow up play a cash flow boy game learn to do this and learn to have your assets pay for your liabilities I say this much God wants you to be rich so God wants you to have all the assets you

have you can play with the liabilities you want I don't need three Ferraris but God says you could have them I know I'm going to go to hell for that one thank you very much