Rich Dad Poor Dad author Robert Kiyosaki has broken down Rich Dad’s lesson number one. Explaining in simple terms why the rich become richer, the renowned author said: “They understand the importance of preserving tangible assets, such as gold, silver, and bitcoin, which offer lifelong financial security and freedom.”
Robert Kiyosaki Breaks Down Rich Dad’s Lesson One
The author of Rich Dad Poor Dad, Robert Kiyosaki, explained the core concept of Rich Dad’s first lesson in a post on social media platform X on Thursday. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.
“Rich Dad’s Lesson #1 ‘The rich don’t work for $,’” Kiyosaki began. “Why? Because our wealth is designed to be stolen from our fake money via taxes and inflation and the stock market.” He elaborated: “Instead, the rich work for assets that put tax-free money in their pocket, cash flow assets, such as rental properties, oil, food production.” He further detailed: “And rather than save fake $, the rich save gold, silver, bitcoin.” The renowned author stressed:
Lesson: The rich do not want jobs or fake paper assets. The rich want assets that put real tax free money in their pockets and they know how to save real assets, gold, silver, bitcoin assets that provide lifelong financial security and freedom. That’s Rich Dad’s Lesson #1. Simple?
Kiyosaki also explained why the poor and middle class get poorer. He described: “The poor and middle class want jobs that promise a steady paycheck but offer no job security. Even worse, the poor and middle class work at jobs that pay taxable fake $ income.” He added: “And then they save fake $, then invest in stocks, bonds, mutual funds, and ETFs [exchange-traded funds] which are crashing as I write this text.”
The author of Rich Dad Poor Dad has long been recommending gold, silver, and bitcoin. He has made multiple forecasts related to the prices of the three assets. He recently stated that BTC is headed for $135,000 while gold will soon take off. Back in August, he said that in the event of a global economic crisis, bitcoin’s price could surge to $1 million, with gold reaching $75,000, and silver climbing to $60,000. In February, he projected that the price of BTC would reach $500,000 by 2025, while gold could rise to $5,000, and silver might reach $500 within the same timeframe.
Last month, the renowned author advised investors to buy bitcoin immediately, noting that he foresees a rush to buy BTC as stock, bond, and real estate markets crash. He additionally expressed his belief in the future of cryptocurrency, asserting that fiat money is toast and describing it as “fake money.” In his view, gold and silver represent “God’s money” while bitcoin is “people’s money.” Besides issuing multiple warnings about the greatest crash in real estate, stocks, and bonds, he also cautioned that the Federal Reserve raising interest rates will crash the U.S. dollar.
Kiyosaki revealed an investment allocation last week to help investors survive what he believes to be the “greatest crash in world history.” He also recently shared his own investment strategy, emphasizing that he is not trying to be Berkshire Hathaway CEO Warren Buffett.
What do you think about Rich Dad’s lesson one and Robert Kiyosaki stating that bitcoin provides lifelong financial security and freedom? Let us know in the comments section below.