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Who is Robert Kiyosaki - Top 10 highlights about the bitcoin teacher of millionaires

Duy from Duy
February 23, 2022
in Cryptocurrencies
Time: 6 min
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Robert Kiyosaki was born in Hawaii in 1947, graduated from Naval College and then served as a helicopter pilot in Vietnam. After the war, he earned an MBA and worked as a sales assistant at Xerox. Eventually, he started his own business and became an author (especially a book Rich dad, poor dad), motivational and financial gurus, and especially a millionaire. How did he manage to retire at the age of 47, how did he overcome the rat race, why is he so well known and how does he relate to Bitcoin?

1. Bitcoin supporter

In April last year (2020), shortly after the coronavirus pandemic hit the world, Robert Kiyosaki showed the first direct public support for bitcoin on Twitter. With an urgent text, he urged readers not to miss a bitcoin opportunity while there was still time and the dollar was not in the bear market.

We have to perceive that it was largely his personal marketing and that a person as educated as he would certainly not communicate an investment opportunity in this way to an intelligent person. However, Tweet was intended mainly for the masses.

Kiyosaki, Robert Kiyosaki, Rich Dad, Poor Dad, Passive Income, Rat Race
Source: Twitter

Probably the most interesting tweet is this one, where he compares commodity money to the money of the gods and bitcoin to the money of "people", because it is not directly clear from it whether we should choose metals or bitcoin. In conclusion, he points out that silver is so cheap that even the poor can afford it.

Kiyosaki, Robert Kiyosaki, Rich Dad, Poor Dad, Passive Income, Rat Race
Source: Twitter

2. The architect of the concept of the so-called rat race

This concept has probably been heard by everyone who, even for a minute, touched on the topic of enrichment - the rat race. It is about increasing spending while increasing revenue, so our financial situation remains just as bad despite higher wages and we are trapped in a cycle (therefore rat race). I want a better car, I make more money, I buy a more expensive car, I pay more expensive insurance, I'm where I was. What's worse, an increase in income is often achieved simply by "harder work", so we still get hit and have never room to find a job that we really enjoy.

Kiyosaki, Robert Kiyosaki, Rich Dad, Poor Dad, Passive Income, Rat Race
Robert Kiyosaki coined the familiar concept of the rat race. Source: Investor Circle

The key is to make money work for you, not the other way around, as the rat race demonstrates. And to do that, we must be able to save them and invest wisely in order to generate more money (passive income). As a house for rent. The resemblance to the rat race is so ingenious that it has taken hold around the world and has become a concept.

3. The one who enforced "passive income"

Kiyosaki loves real estate because they allow you to take passive income in the form of rents. The "only" thing you have to do is correctly calculate the return, get financing and a manager with a cleaning lady who will keep the property running.

But the point of his philosophy lies in something deeper than in real estate, which he so often encounters in his books. The point is to build a system (Rich dad, poor dad has a passage where one builds a pipe, a system, while the other carries water), which will work without you, resp. where the money will work for you, as follows from the so-called cash flow quadrant, which created for this purpose:

Kiyosaki, Robert Kiyosaki, Rich Dad, Poor Dad, Passive Income, Rat Race
Passive income in the CF quadrant. Source: Debt-Free Doctor

We sell our time first, the first half of the quadrant. Will we stop working actively? Reception ends. In the second half, we first manage people who are actively working and selling us their time (business owners who need capital), and finally we decide where to let our money work (in which businesses we use capital). We have a passive income.

4. A rich dad from his famous book Rich dad poor dad was real

As a child, Robert Kyiosaki met his friend Alan Kim, whose father Richard owned Sand & Seaside Hotels in Hawaii, which Alan inherited after his death. Kiyosaki's father represented education in Hawaii and was not very rich because he did not have a well-adjusted mind, so Alan's father became the financial guru of both boys and led them on a path to wealth. A book Rich dad, poor dad he documents this path, even if it is partly fiction.

5. Network marketing as a business of the 21st century

Kiyosaki recommends network marketing as a 21st century business, but he is often criticized for it because, for example, he does not say that there is only a very low rate of real success in this business today. However, the reason he advocates MLM is not the genius of structural trade or passive income - the fact that MLM will teach you dependence on payroll.

If you are addicted to a payslip, "you have sold your soul, body and mind in the spirit of emotions and you are sitting here with the fear of losing your job (you are swallowed up by a rat race)… When you do business, sometimes you don't get paid even after 5-6 years."

6. He was not very successful in business, but he could sell

He founded the first company in the world to make velcro surfers (Rippers), earning over a million dollars for it, but soon went bankrupt because he could not manage such assets. Then he got a license to make wallets and a trick with the logos of heavy metal groups, but for a long time the competition overtook him.

The success did not come until 1985, when he co-founded Excellerated Learning Institute (engaged in business education) and from money he could afford to start investing in the real estate he loves so much.

However, his first book was not Rich Dad, Poor Dad (he came only in 1997, 40 million copies), but If you want to be rich and happy, don't go to school. Again, bestselling the name itself.

7. Active action

Robert Kiyosaki gave in his books (especially in Why do the singles work for the trio) always advice to try things, get them to work, fail and learn. Practice is the best teaching. You know Why do singles players work for triplets? Because number one learns to avoid mistakes altogether. You don't have to be a complete expert to create a business. Point of the book was so intuitive and marketing ingenious, even though it was a relatively broad generalization, that it became a bestseller again.

In this book, Kiyosaki sharply criticized the structure of the education system and financial education. He also pointed out the fact that many young people are trying to live in the light of a world that no longer exists - in the light of their parents' world (work hard and wear a good grade so that you can finish school soon and find secure and well-paid work) and in a light where there is only a rat race and misfortune.

8. Sell yourself

Kiyosaki, like other motivators, sells himself and his reputation. Unfortunately, his ideas are so simple and ingenious that he was always able to expand them on another new book, until he got the picture that all his books are basically the same and just read Rich dad, poor dad.

One of his education companies (Rich Global LLC) went bankrupt in 2012 because Kiyosaki did not pay part of the profits to the co-founder who helped him give the speeches.

9. A man for $ 80 million

It is estimated that Robert Kiyosaki has assets worth over $ 80 million. where does all this money come from? After three highly successful book titles, Kiyosaki embarked on a career as a world speaker, invested in real estate, and even bought a silver and gold mine in South America and China.

10. How much bitcoin does Robert Kiyosaki have?

He used to buy bitcoin for $ 9,000, but did he buy it now? And how much? Kiyosaki's bitcoin in KITCO News, broadcast in April 2021, predicted a promising future when he said it would cost a million dollars in five years, but he never actually revealed how much bitcoin he held.

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All content in this article is for informational purposes only and does not in any way serve as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
Tags: Robert Kiyosaki

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