Conspiracy of The Rich blog : Learn with Rich Dad Robert Kiyosaki how to Survive and thrive in today's economy, how to build assets, how to save money and increase your financial success, how to invest wisely and how to plan your path to financial achievement

Wednesday, December 18, 2013

Robert Kiyosaki's Best Investment Advice ever received

Robert Kiyosaki

Robert Kiyosaki

In 1973, I returned from Vietnam where I served as a pilot in the Marine Corps. My poor dad recommended I go back to school get my MBA, possibly my PhD. My rich dad recommended I take a seminar on real estate. I took the advice of both my Dads. But after I completed my 3-day real estate seminar, I dropped out of the MBA program. It didn’t take me long to realized that my rich dad’s advice was the best advice for me. If I were planning to climb a corporate ladder, the MBA program would have been best for me. But since I was planning on becoming an entrepreneur and an investor, my rich dad’s advice was best for me.
The reason my rich dad suggested I take a real estate course was because I needed to learn how to use debt, rather than my own money, to acquire wealth.
In 1971, President Nixon had taken the U.S. dollar off the gold standard. This meant the dollar was now backed by debt, by U.S. bonds. That is why rich dad suggested I learn to use debt, and why he suggested I learn to invest in real estate.
Learning how to invest using debt, rather than my own money, is the best advice I ever received. Today when I hear people complain, “How can I invest, I don’t have any money,” I know they do not understand the power of debt.

Rich Dad Poor Dad is the story of Robert Kiyosaki 's financial education. He had two 'dads' - one his real dad, who was poor, and the other, his best friend's dad, who was on his way to becoming a very rich man.