60 minutes to getting Rich – Robert Kiyosaki Seminar

A 60-minute seminar by Robert Kiyosaki, that provides personal insights into how to get rich – including the rich mindset, how to read financial statements, the importance of understanding the cash flow quadrant and learning how to invest.

Money is an Idea

Money is an idea, it is whatever you think it is.

The way you think about money and the ideas that you have about money, is one of the key reasons you have the amount of money that you have.

What your parents tell you about ‘money’, is often what leads to your long-term views about money. What are the words that you associate with when you think about money?

Be careful about whose idea’s you are listening to.

Some key concepts

  • Money does not make you rich: Money is a powerful tool, that if you use well, can make you richer.
  • 2 kinds of money problems: Too little money / Too much money.
  • Choice: It comes down to the choice that you make – do you want to be poor, middle class or rich.
  • Need to work hard for money: No! Your money needs to work hard for you.

Importance of Financial Literacy

It is critical that you know how to read a financial statement:

  • Income / Expenses
  • Asset / Liability

The difference between and asset & liability

An asset puts money into your pocket, whether you work or not. A liability takes money from your pocket, whether you work or not.

An asset will create income, a liability will create expenses.

This is why your house is a liability and not an asset. 

Cashflow Quadrant


Employees & Self-employed both work for their money. 

Business owners have other people work for their money. They may not be that smart themselves, but they know how to surround themselves with smart people.

Investors have their money work hard for them. Investors want money velocity – they want to put in their money, multiply it and get it back quickly.

There are the following key differences between the left quadrants (employees / self-employed) and the right quadrants.

Money linked to your time. Money not linked to your time.
Cannot leave and still make money. Can leave, and still make money.
Money comes immediately. Do not need patience. Need to have great patience. Need to be willing to invest upfront, and wait years for a payback.
Pay taxes upfront, tax laws written against them. Delay being taxes, by taking advantage of the tax benefits available to business and investors. Tax laws are written by the rich for the rich.

Rich Dad’s Guide to Investing

Acquire Assets

The key is to learn how to acquire assets.

It’s not how much money you make, it’s how much you keep. How much of your income, is hitting your bottom line and being invested in assets. What makes the rich, is not that they are making more money, it is that they are keeping more money.

How rich are you?

If both you and your wife stop working, what happens? If income keeps coming in despite your not working, you have assets and you are rich.

The definition of wealth is – how much time can you survive without working?

Retire Early and Rich

Debt vs Equity

Use your bank’s money to retire. There is ‘good debt’ and ‘bad debt’.

If you want to get rich, load up with ‘good debt’. When you want to become rich fast, it it important to have enough starting capital, and borrowing ‘good debt’ helps multiply the capital that you start with.

Real Estate – A banker will always lend money against Real Estate.

Never break your bank – Money that you have invested in an asset, should never be touched to satisfy some tacky near-term desire. For the rich, building their assets are more valuable than any short-term desire.

Real Estate Investing

For every 1 property that I buy, I consider 100 properties. A 100:1 properties is the ratio!

Of the 100 deals that you look at, you put low-ball offers of 10, of which 3 get accepted and then I buy one property.

The reason I don’t have a job, is because it interferes with my looking for deals.

Other Videos you may like

A Minimalist Approach to Personal Finance

Matt D’Avella’s advice on how to take control over your personal finances, following the #1 rule of personal finance – spend less than you earn. Key tips include avoiding the traps of lifestyle creep, keeping up with the jones and the pressure from ourselves (or the myth of ‘i don’t have’).

Born for This: How to Find the Work You Were Meant to Do by Chris Guillebeau, | Video Book Review

A short animated book review of Born for This: How to Find the Work You Were Meant to Do by Chris Guillebeau,.

Secrets of the Millionaire Mind Seminar – T Harv Eker

A rare recording of Harv Eker’s famous Secret of the Millionaire Mind seminar, that helps reprogram your mind towards attracting riches. The biggest difference between the rich and the poor lies in the way they think about money. This seminar hopes to help reprogram your mind to think like the rich.

The New Rich – The Four Hour Workweek

We are brought up to view income as absolute, but in truth it is relative to time and mobility. Understand how the New Rich view money, and how they are able to multiply the value of their money by ensuring they have enough time and location flexibility.