In a compelling speech that has gained widespread attention, Robert Kiyosaki shares his unique insights on money, education, and entrepreneurship. His story begins with a question he asked his father, a well-educated man with a PhD, about why schools don’t teach financial literacy. The answer his father gave surprised Kiyosaki. His father explained that the government determines the curriculum, and teaching about money was not a priority. Kiyosaki was puzzled by this, as he believed the purpose of education should include learning about finances. This conversation marked the beginning of Kiyosaki’s lifelong journey to understand money outside the traditional education system.

Contrasting Two Mentors: Rich Dad vs. Poor Dad

Kiyosaki’s path to financial education was shaped by the contrasting lessons he received from two father figures. His biological father, whom he refers to as his “poor dad,” followed the conventional path of education and employment, emphasizing the importance of securing a job. On the other hand, Kiyosaki’s best friend’s father, whom he calls his “rich dad,” was an entrepreneur who taught him about money in an entirely different way. His rich dad explained that entrepreneurs must know about money to survive, while employees do not need the same knowledge, as they are supported by their employer or the government.

At the young age of nine, Kiyosaki approached his rich dad to learn about money. However, his rich dad gave him an unconventional lesson: he refused to pay Kiyosaki for any work. He explained that once someone is paid, they start thinking like an employee rather than an entrepreneur. This approach was jarring for a young Kiyosaki, but it laid the foundation for his understanding that entrepreneurs must think beyond a paycheck and find ways to create value.

Learning About Money Through Monopoly

Kiyosaki’s rich dad used an unusual method to teach him about money: the board game Monopoly. As a child, Kiyosaki was tasked with menial jobs like cleaning cigarette butts and performing office work, but his rich dad insisted that the real lessons came from playing Monopoly. The principle of the game—acquiring four greenhouses and one red hotel—was a key strategy for building wealth in real life, according to his rich dad. Over time, Kiyosaki began to see the real-world application of this concept.

At 19, after spending years learning from his rich dad, Kiyosaki saw the Monopoly lesson in action. His rich dad had bought a significant piece of land in the heart of Waikiki Beach, where he eventually built the Hyatt Regency Hotel. This property, initially assembled by buying out small business owners, exemplified the idea of acquiring assets that grow in value over time. This real-life Monopoly move resulted in a massive financial success, demonstrating the power of investment and asset accumulation.

Financial Crashes and the Role of Spirituality

Kiyosaki is candid about the challenges he has faced in his financial journey. He acknowledges that he has experienced financial crashes and personal betrayals, but he views these struggles as opportunities for growth. According to Kiyosaki, making mistakes is a crucial part of the learning process. He criticizes the traditional school system for discouraging mistakes, which he believes stifles personal and financial growth. In his view, life is a balance of opposites—success and failure, right and wrong—and one cannot exist without the other.

Kiyosaki draws a parallel between financial education and spirituality, suggesting that embracing the ups and downs of life leads to personal development. He contrasts this with the fear of failure often instilled in traditional education, which, in his opinion, limits people’s potential to succeed financially.

Poverty, Mindset, and the Education System

A major theme in Kiyosaki’s speech is the idea that poverty is not merely a lack of money but a mindset passed down through generations. He explains that attitudes toward money are often taught within families, where children learn beliefs such as “money is evil” or “the rich are greedy.” These negative beliefs, Kiyosaki argues, keep people trapped in financial mediocrity. He criticizes the school system for perpetuating this cycle by teaching students to become employees rather than entrepreneurs.

According to Kiyosaki, the education system was designed to produce workers—doctors, lawyers, and specialists—rather than individuals who understand how to create wealth. He points out that essential financial skills like accounting, taxes, and debt management are rarely taught in schools. These skills are, however, vital to real-world success, particularly for entrepreneurs.

Real Teachers vs. Fake Teachers

One of Kiyosaki’s key lessons is the distinction between real teachers and fake teachers. He defines real teachers as those who practice what they preach, drawing from their personal experiences. For example, Kiyosaki’s rich dad learned about business by running a company, while his teachers were his accountant, attorney, and banker. These individuals had real-world experience, which made them valuable educators. In contrast, Kiyosaki criticizes many schoolteachers for teaching subjects they have never applied in their own lives. He believes that real learning comes from solving problems in the business world, not from theoretical knowledge.

The Power of Words and Questions

Kiyosaki emphasizes the power of language in shaping one’s financial future. He explains that phrases like “I can’t afford it” or “I don’t have time” close the mind and limit opportunities. Instead, Kiyosaki encourages people to ask questions like “How can I afford it?” or “What would it take?” These questions open the mind and lead to creative problem-solving, a critical skill for entrepreneurs.

His rich dad often told him that statements close the mind while questions open it. This mindset shift is essential for anyone looking to break free from financial limitations and explore new possibilities.

Conclusion

Robert Kiyosaki’s message challenges conventional wisdom about money, education, and success. By contrasting the lessons from his “poor dad” and “rich dad,” he highlights the importance of financial education, entrepreneurship, and a growth mindset. His experiences demonstrate that wealth is not just about money—it’s about understanding how to create value and think differently from the crowd. In Kiyosaki’s view, true financial freedom comes from questioning the status quo, embracing failure as a learning opportunity, and continuously seeking real-world knowledge.