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Robert points out that one of our biggest mistakes is listening to salespeople for financial advice instead of learning from the wealthy! He also clarifies the difference between good brokers and bad brokers.
So, what’s the deal with good vs. bad brokers?
According to Robert, good brokers help you get rich, while bad brokers just make excuses. He shares how he and Kim invested in stocks and real estate and, through their education, learned to spot a smart broker versus a smooth-talking salesperson.
For them, education is the real game-changer. Robert states, “That’s why the Rich Dad Company offers multi-day seminars on stocks and real estate—because financial education is the key to success!”
Do you know the difference between traders and investors?
Robert explains that those who frequently enter and exit the market are traders, not investors. Traders not only pay higher commissions to brokers but also face higher taxes. This allows brokers and bureaucrats to profit while traders often lose in these transactions.
Financially intelligent investors understand how to minimize unnecessary fees and taxes by investing wisely and collaborating with the right brokers.
Want to know another reason we’re not getting richer?
We often buy things that make us poorer—and it gets worse when we pay for them over years with high-interest credit cards! Robert advises, “If you want to get rich, spend your money with businesses that focus on making YOU richer.”
He mentions being a long-term customer of several investment newsletters and financial magazines, enjoying spending on products and services that help him grow his wealth.
Robert also emphasizes that money plays an important role in marriage! He quotes The Great Gatsby:
“Rich girls don’t marry poor boys.”
Rich Dad refers to those who marry for money as "love predators." He delves into how money impacts relationships and offers ideas on protecting your finances.
