Robert Kiyosaki doesn't pay taxes during his life Robert Kiyosaki doesn't pay taxes during his life.  In this installment of Millennial Money, Robert put forth his opinion that the self-employed are working for tips.  A real estate agent gets 6% . . . Robert tips his waiter 20%.  Who’s more valuable he asks? By investing in real estate with other people’s money, you have no money in the deal so you are making an infinite return . . . and paying no taxes due to depreciation and other related expenses. . . . or after he dies either Robert Kiyosaki doesn't pay taxes after he dies either.  Robert's assets are held in a Charitable Remainder Trust (CRT).  A CRT is  an irrevocable trust that generates an income stream for...

In this installment of Millennial Money, Robert Kiyosaki explains that, because the government has mismanaged our economy, millennials will have to be 10 times smarter than him to achieve the same result today that he achieved decades earlier.  Being an Business Owner or Investor rather than being an Employee or Self-Employed is now more important than ever. With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.  The "Millennial Money" series of videos seeks to provide young people with some important economic concepts that they didn't learn in school. Previous episodes of "Millennial Money" Blog #446 - How Debt Can Generate Income Blog #451 -...

In this installment of Millennial Money, Robert Kiyosaki explains the three types of income . . . Earned Income Portfolio Income Passive Income . . . and which ones the rich work for. With perspectives on money and investing that often contradict conventional wisdom, Robert has earned an international reputation for straight talk, irreverence, and courage and has become a passionate and outspoken advocate for financial education.  The "Millennial Money" series of videos seeks to provide young people with some important economic concepts that they didn't learn in school. Previous episodes of "Millennial Money" Blog #446 - How Debt Can Generate Income Blog #451 - The Biggest Mistake Young People Make Blog #456 - How to Convert a Liability into an Asset Blog #465 - Getting a Job is for Losers Robert Kiyosaki...

When Robert Kiyosaki was young, his poor dad always told him that he needed to go to school so that he could get a good job.  To his poor dad, getting a good job was the most important thing in life.  His poor dad worked very hard . . . and he was always worried about money.  Yet, he never got ahead.  His job was actually one of the things that kept him from succeeding.  He toiled away working for others, often getting raises only to keep with the cost of living and pay a high percentage to the government in taxes. On the other hand, Robert’s rich dad never had a “real” job, and he was rich and successful.  Rich dad understood that the sentiment,...