World's leading finance guru, businessman and best-selling author of 'Rich Dad Poor Dad' - the top personal finance book of all time, Robert Kiyosaki has emphasized the significance of financial education in these chaotic and financially volatile times. Kiyosaki, while giving the keynote address at Success Gyan's 4th Super Growth Summit online on Saturday, said that "If you cannot trust your dollar, trust your knowledge". He reveals his own secret of asset class investments, how he became rich and now stays rich, and why "everything you get taught in school keeps you poor".
Kiyosaki, the founder of Rich Global LLC and Rich Dad Company, says everyone can live the rich life they deserve, by simply taking control of future finances. Iterating that this is a "very important time for you to learn about personal finance", he delved into the story behind 'Rich Dad, Poor Dad', and introduced his formally-uneducated rich dad who learnt about money in the real world; and his "smart and educated" poor dad, who advised Kiyosaki to "go to school and get a job". The author also deliberated upon the date August 15, 1971, the day President Richard Nixon took the US dollar out of the gold standard - after which the world has seen 50 years. Kiyosaki, who fought in the Vietnam War in the 1970s, received a letter from his rich dad that "the world is going to change, Nixon took the US Dollar off the gold standard. I bought some gold in Vietnam for the first time. I call gold and silver God's money, it's real money." Speaking to close to 15,000 attendees of the Super Growth Summit, the famed guru said: "Most people go to school, get a job, and pay taxes to the government. Your cash flows out. They tell you to buy a house, but the cash flows out as a mortgage which goes to the bank. The key to getting rich is controlling your cash flow. Not having financial education is why most people are unable to do it. Everything they teach you in school keeps you poor." Kiyosaki's financial lessons at the online Super Growth Summit, inspired by his own personal life and investments, underlined the need for "training your mind to think like a rich person". Delving deep into the teachings of his book, 'Cashflow Quadrant - ESBI', he said: "The problem with going to school is that they train you to be either an employee (E) or be self-employed (S-doctor, lawyer), which is under the Poor Dad part of the quadrant. These sets also happen to be the ones paying the highest taxes in all countries. The second part of the quadrant is the Rich Dad (B-Business Owners and I - Investors)." Sharing what is million-dollar advice, quite literally, Kiyosaki said: "What I decided to do upon coming back from Vietnam is work on four basic asset classes: Business (Richest people on Earth are business people); Real Estate; Paper Assets, such as stocks; Commodities like gold, silver, Bitcoin, oil. Because I have a lot of assets, I don't pay any tax. The trick with real estate is debt. I use debt to buy real estate, it puts money in my pocket, and I pay no tax. That's financial education, legally." "The reason that makes people on this side rich is the network. Business owners build networks, and inside investors invest in networks. When Warren Buffett invests, he invests in Brands. What I do today is build businesses, buy real estate, but I don't invest in Wall Street because I don't trust it. What I have is gold, silver and Bitcoin." Surendran J, Founder & CEO, Success Gyan said, "Success Gyan's Super Growth Summits empower individuals with the ability to transform their lives with the help of world-class training. Live interactive training is the learning methodology we follow here. When the subject and object meet at high intensity, transformation happens. One of the formulas for massive success is life-long learning. Second, your environment is key. Third, you need to learn from the trainers you are aligned with." Kiyosaki was joined by 12 more world-class trainers in the 7-hour weekend event including Swami Sukhabodhananda, Siddharth Rajsekar, Blair Singer, Rajiv Talreja, Prachi Mayekar, Sawan Kapoor, Puja Puneet, Thaddeus Lawrence, Robert Riopel, Dr. M.V. Priyank, and Dr. Meghana Dikshit.