You know, when I was 10 years old, I asked the question in school, "When are we going to learn about money?" She says, "We don't study money at school.

" So, why am I in school? So, you can get a job and work for what? Money.

 So, why don't we just study money? So, I was 10 years old.

 I smelled a rat.

 If we're going to work, get a job to work for money, shouldn't we study money? And guess what? We still don't study money at school.

 So, that's why I formed the Rich Dad Company.

 So, for those who want to understand money, good place to go to.

 Hi, I want to talk to you young people out there, male and female.

 This is my second book here, the cash flow quadrant.

 You know, it's E, S, B, or I.

 You can see that there.

 So, one of the mistakes I hear young people say, because a lot of my classmates said it, oh, I don't have to worry about money.

 I'm still young.

 And that's the mistake they make.

 You know, they don't get started.

 The reason I say that E, S, B, or I, E stands for employee.

 S stands for specialist or smart person.

 See, my dad was an employee.

 He was a school teacher and my dad as a school teacher always said to be go to school and get a safe, secure job.

 But I said, I want to get rich.

 So my mother was a nurse.

 So she says, go to med school, become a doctor.

 I said, mom, doctors are smart.

 You're right.

 I I'm not going to make it as a doctor or a scientist or engineer or something like that.

 And B stands for big business.

 Like Elon Musk is B.

 Uh Steve Jobs was a B.

 Trump is a B.

 And I stands for insider investor.

 Notice we invest from the inside.

 E and SS invest from the outside.

 They buy stocks, bonds, mutual funds, ETFs and those things.

 I don't like them.

 So I wanted to produce my own stocks, bonds, mutual funds, and ETFs.

 So that meant my education.

 The reason I say people the mistake young people make is, oh, I don't have to worry.

 I'm still young.

 Well, it takes a lot of time to study to be an I inside.

 And takes a lot of time to become Elon Musk.

 I mean, it's dedication.

 put a lot of things at risk here.

 So that's why for many people they say the book the cash flow quadrant changes their lives.

 But you've got to start.

 So when I was in the Marine Corps, left the Marine Corps in 74, my poor dad being an employee said to me, "You know, Robert, why don't you get a job with the airlines, be a pilot, dad, and I just got through flying in Vietnam for 2 years.

 I would make a good pilot.

 You know, it'd be too dangerous for everybody else flying with me.

" My mother said, "Why don't you go to med school?" I said, "Mom, you got to be smart.

" So I went to see my rich dad.

 Because Rich Dad was in the B and the eyes, the bee and his eyesight a capitalist.

 You have to be a capitalist at heart.

 Over here, you can be what you like.

 But be is an eye is a capitalist.

 So I wanted to be an I and inside.

 So that's why my rich dad said to me, you've got to understand debt.

 So that's why when I was still in the Marine Corps, I would take courses on real estate.

 You first how to find a deal.

 Because these guys here, they just buy what their financial planners tell them.

 They're outside investors.

 On the inside, I thought I learned one thing right away.

 To find a good investment, you have to look at a 100 minimum.

 So, I had to look for the 100 100 and process the data in my head.

 What made it a good investment and how much debt could I apply to it and still make money, not lose money.

 So, that's why I took real estate courses, real estate courses, real estate courses.

 To become a be a big business owner, my rich dad said there's two skills essential for a business owner.

 Number one, you've got to learn how to sell.

 Number two, raise capital.

 See, these guys here don't they don't know how to sell a lot of them.

 They know how to raise capital.

 While I'm taking real estate courses, as I left the Marine Corps, I got a job with Xerox to learn how to sell cuz Xerox had the best sales training in those days.

 So, I interviewed with IBM and Xerox.

 And the IBM guy I didn't like at all.

 He was a hiring guy.

 He couldn't look me in the eye.

 And the Xerox guys, I interview I met them at a job fair.

 And they were sitting there.

 IBM guys have dark blue suits, white shirts, and red ties.

 The zeros guys had these flashy suits and all this.

 They were sitting at a job fair at the University of Hawaii.

 I was a marine walking in there.

 College kids are going by and I'm walking by the desk and the IBM guy couldn't look me in the eye.

 I thought that was strange.

 But the Xerox guys, they're in these flashy suits and they got a cooler of beer and they're drinking.

 They're going, "Hey, baby.

" They're yelling at the chicks walking by, you know, the girls.

 I like those guys.

 So that's how I went over to the Xerox guys to fire.

 I also interviewed with New York Life and insurance companies for the sales training, but Xerox and IBM had the best sales training.

 So, that was my choices.

 They sent me to school and all this.

 So, I'm sitting down with the Xerox guys and we're drinking beer and all this and this guy named Gene McGarity, he says, "What do you do in your spare time?" I said, "I play rugby.

" And he was a rugby player.

 Even though I didn't have my MBA, they overlooked it.

 Said, "You know, do you have a masters?" I said, "You have an NBA?" I said, "No, you play rugby.

" I said, "Yeah.

" He said, "Okay, we'll hire you.

" You know what I mean? So, you have to learn how to sell yourself.

 And then from there I had to learn how to raise capital because if you don't know how to raise capital you can't be in this business.

 And raising capital is very similar to being an I because I'm raising capital from eyes investors.

 So that's what Kenny Mroy and I know how to do.

 We can sell and we can raise capital.

 So again I'll say it and the biggest mistake I see young people make is oh I don't have to worry you know I'm still young.

 The biggest problem with these that employees pay 40% of their income in taxes.

 But job security cost you 40% of your income.

 ESS doctors and lawyers pay 60% in taxes worldwide and bees pay about 20%.

 But the I can get down to 0%.

 Because the world needs people, they need capitalists to invest in businesses and grow companies and all this.

 So the skill sets of E, S, B and I are very very different and it takes time to change the mind.

 So I ask you what were your parents? E, S's, B's or I? You know my parents were E.

 My mother was a nurse.

 It's still an E.

 And my rich dad was a B or an I.

 The other thing I ask people today, young people, I say, who are your best friends today? Are the E, S's, B's, or I's? You know, as as you guys know who do my videos, my friends are B's and I's.

 Kenny America or George Gammon and all that.

 It's not just saying I'm going to be in ERSB and I there is a metamorphosis, a transformation that goes on inside of you.

 So, one of the reasons I'm not afraid of not having a job is I can raise money.

 You know, if I need money, I have no problem going to raise money.

 So, one of the goals of the B and I is can you take a company public on a stock exchange.

 So my first deal I did was I think 2004 I took a gold mine in China public on the Toronto Stock Exchange and we struck gold in you know I don't buy shares I don't buy stocks I sell stocks the mindset is completely completely different but the thing I learned you know doing a deal in China can't trust the Chinese I hate to say that but as soon as we struck gold in China one of the biggest finds was in Dalian China the Chinese took it so I learned the definition the word country risk I don't do business in China.

 I go where the laws are strict and strong.

 That's like England, great laws.

 America has great laws.

 But that's how you learn by, you know, trial and error.

 So then I took another company public.

 It was a silver company in Argentina.

 That one did well.

 And we sold it to another company.

 So I don't buy shares.

 Capitalists create shares and sell it.

 And the best I did was a gold mine in Utah.

 And it was just a great deal.

 is an old gold mine, 140 years old, and my partners are Canadians.

 And they said, "Hey, we found a deal.

 We got to raise money for it, though.

" And what they did is they and they found the mining records from 140 years ago.

 So, they used AI to analyze the records of these gold miners from 140 years ago.

 And they did all the analysis and they said, "Oh my god, 140 years ago, those miners missed the vein.

 It had so it was such a rich area, but they missed the biggest vein.

 So, what do we do? We raise money and it's my first company I ever took public on New York Stock Exchange.

 Again, I'm not a buying shareholder.

 I'm a selling shareholder.

 What I'm saying is your goals change.

 When I helped list that company on New York Stock Exchange was like that's how you know you're a B and I or a capitalist.

 So that that gold mine because it was 140 years old but we use modern technology to analyze it made us extremely rich people.

 But we got even richer when we took it public on the New York Stock Exchange.

 So E SB R I mindsets and what takes the time is education to change your mindset.

 It's a metamorphosis or a transformation.

 It's like a caterpillar turns into a butterfly.

 That's the difference going from here to here.

 If you want to find out more about it, that's why I say this book here, the cash flow quadrant is the most transformational book they can go through because it causes them to question what are my belief systems? Am I looking for job security? And employee always says the same words.

 I say take care with a steady paycheck and benefits.

 That's my dad.

 My mom says if you want it done right, you know, S's do it by yourself.

 So most doctors and lawyers and all that, they can do their job on their own.

 They're not team players.

 And B's and I's you have to put together a team.

 And so your being is different.

 Bees are different than I.

 You don't just I had this one silly woman come up to me just I'm an I.

 I said good.

 How many companies have you taken public? I haven't.

 I said so.

 Why do you see an I? Because I say I am.

 And that's how stupid people are today.

 Show me the proof, you know.

 Show me the money.

 Show me your company.

 And then the B's 500 employees or more.

 So your skills are different.

 Your mindset's different.

 The education is different.

 And there's still E or S's.

 They never make it here because this takes time, takes education, training, and a metamorphosis.

 It's like a caterpillar turning into a butterfly.

 So when I started listing companies on the stock exchanges, I was a free man.

 I could make as much money as I want and I was in control of it.

 That's what I wanted.

 Question is, what do you want? You want to be an E, S, B or I? There are different people, different education, different training.