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FIND OUT WHY MONEY DOES NOT MAKE YOU RICH – Robert Kiyosaki, Rod Smith, Ryan Broyles & Chris...

FIND OUT WHY MONEY DOES NOT MAKE YOU RICH – Robert Kiyosaki, Rod Smith, Ryan Broyles & Chris...
starting now you can get a transcript of each week's

Rich

Dad radio show just visit WWE today this is the

Rich

Dad radio show the good news and bad news about

money

here's

Robert

Kiyosaki

hello hello hello

robert

kiyosaki

the

rich

guy radio show the good news and bad news about

money

and my on the program today she is doing her passion which is to play golf today we have a fantastic show for you and the theme of the show is that

money

does

n't

make

you

rich

and all the times I hear that you know well when I have a million dollars then I'll be

rich

and all that and really that's not true I'll say it repeated again the theme the theme of this program is that radio show is that

money

does

n't

make

you

rich

and today we have champions on this show guys who are millet multimillionaires in their 20s you know nobody's oh I wish I was

rich

and all this but what you're gonna

find

out is that

money

does

n't

make

you

rich

so our guests today are three champions as a first as my dear friend rod

Smith

two times Super Bowl champion and three times pro bowler he's an entrepreneur and author and he play for the great Denver Broncos my brother guess is

Ryan

Boyles former NFL player of the Detroit Lions he's a rookie of the year in 2012 today is an entrepreneur real estate investor and he was he played for the University of Oklahoma and he's a first-team all-big 12 and 2011 and our other guest is

Chris

Redman NFL career spent with Atlanta...
find out why money does not make you rich robert kiyosaki rod smith ryan broyles chris
Falcons and Baltimore Ravens I mean these guys are champions and I know you know this is a worldwide broadcast and not everybody played gridiron or football as a football as soccer and most parts of the world and gridiron is our football and then of course there's my support which is rugby and so these guys to

make

the NFL it's virtually impossible they

make

millions and millions of dollars in their career is over and so what we're gonna be talking about today is that

money

does

n't

make

you

rich

that's the theme we have three experts in this field because they lived it there in the 20s and sometimes teens and they become multi-millionaire what happens to you when all that

money

it's you that's the theme of the show and how many people actually go broke first let's talk my friend rod rod it was a quick synopsis of how you went from high school through pro real quickly first of all was undrafted you know how the college I was undrafted what

does

that mean because we have a lot of people who do all over the world I don't what

does

that mean you know they have a draft where team chooses you and I didn't get drafted and so you know that's like right what's like when you kill you all line up and they only choose they got they got they're gonna choose players number six I was number 200 water ya know so you know the NFL they have a draft it's over two hundred seven players it's seven rounds of draft picks between 32 teams...
find out why money does not make you rich robert kiyosaki rod smith ryan broyles chris
and you know I'm sitting there at my at my house they're in college and I'm waiting on my name and it never came and so it's very heartbreaking to not get drafted but I got a chance to sign as a free agent with the Broncos right after I got out of school and and I took advantage of it and went to work that's fantastic and you BA played how many years with the Broncos play 14 years so going from undrafted to playing 14 years in one city was absolutely remarkable guys are still trying to figure out how I did it and you were the captain of the Broncos also right yeah the end of my last eight years you know in Denver I was a team captain you know representative team and negotiations and stuff with the Union and everything so you know I kind of built my my name and reputation in Denver you know just working hard and I kept my head down and went to work and so it was definitely wasn't easy but it's a lot easier go and get a job how about that but also I love the story you tell is that you go into the locker room you're an undrafted free agent and all of these guys are from big name schools like Michigan State and all the big schools you said look sweethearts the game isn't played in the locker room I'll see you on the field or something like that that's where the game is played yeah you know when you walk in there you got all these guys and they have their leather jackets on and their school's all in their locker and you know I went...
find out why money does not make you rich robert kiyosaki rod smith ryan broyles chris
the Missouri Southern State you know University of small school in Division two and you got two big Notre Dame schools and these guys are bragging about their school and I just tell them I said man listen the game is not played in this locker room we're gonna go outside on this field and we'll figure out who's gonna be here who's not that's I love that story I love that story and then we have

Ryan

Boyles has been on our program before and

Ryan

please tell us your story it's a blessing occur coming from a big school like Roger said some guys that kind of boast about what their farm and I was not nice any difference it's a waste and I was seeing Oklahoma was a premier school we essentially just had a Heisman winner we have multiple Heisman winners championships so but I was ill throughout the process of having different accolades and things like that and I kind of have a unique story even why

Robert

Kiyosaki

is a big part of my life my senior year in college I essentially my junior year in college launched out of some of the some of this stuff pretty quickly my junior college at an opportunity of leaving early I led the nation in receptions with supercharged besides Dallas in one year I was an all-american ability called finalists at that point that would be the top receiver in the country award and I but I decided to come back for my senior year I wonder when a championship one day I so let him live myself as being the number one or the best...
receiver ever to go to university Oklahoma and the eighth game of my senior year I tore my ACL so my life was just kind of crushed at that point thinking why did I come back you know a bunch of different doubts I just threw away my draft stock here and there and then I was fortunate to get drafted in the second round so I took it as a blessing and so I knew at that point you know I hear so many stories about athletes losing all their

money

I was like this is a gift from God that I did not slip to the seventh round or even under a supply rod said so I do at that point I had that biggest separative of my finances and the first thing that I did honestly was I've researched what do

rich

people do I didn't come I came from humble backgrounds no one of my colors the first one to graduate from college didn't have anyone in my family and I knew at this point that I've got to

make

great decisions so I can see Google what

rich

people do and one of the first books that came to mind was

Rich

Dad Poor Dad it was actually probably the first book that I read and I've really changed my metallian psychologically the way I thought about finances thought about my future passive income and things like that well thank you that

Ryan

I'm honored I'm honored I'm honored and our third guest today is

Chris

Redmond and his NFL career was spent Atlantic Falcons and the Baltimore Ravens you know congratulations

Chris

and

Chris

what's college is you go to and did you...
wear the leather jacket that rod did not have leather jackets too much like I went a little out of style so I never really rocked the jacket too much but I'm from Louisville Kentucky here where we're known for horses and basketball growing up and in my time and so you know coming out of high school as a National Player of the Year so I had an opportunity to go to a lot of different schools but my dad my grandfather both played here at the University of Louisville and I was going to be the third generation to play uh to play football for the University of Louisville it's just kind of where I've always wanted to play so we stuck it out we actually had a pretty good offense ended up number one in the country and did pretty well and got an opportunity to get drafted to the Baltimore Ravens where you know I was on a Super Bowl team and kind of like you said sometimes being

rich

not everything kind of Championships sometimes it's not it's not all what it cracked up to be too because as soon as you're done with the championship and rod can obviously test for this twice but as soon as you know you're ready for another one so it's kind of like you know you can never get enough and so you know I kind of found you know there's a lot of other things that can to

make

you successful and successful is kind of just kind of an opinion anyway so what

does

it really take to be successful so kind of you know I had a great career nine years in but you know...
I see a lot of the financial struggles that you know everyone kind of goes through at times you isn't your career you're in a cell career sometimes

does

n't always you know end up this exact way that you think it's going to happen but you know I think the smarter you are was with your

money

during your career that's the important part and hopefully that's what we can do moving forward well congratulations you know and for those of you who may not understand the NFL National Football League or gridiron or football or you know what Americans call it to be a quarterback because every kid's dream you know except that that was a little fat guy so I was on the line of attack and the quarterbacks were usually tall and good-looking the laminar fat and ugly so I figure the same as in rugby I'm always on the front line as I'm problems I'm staring at some the ugliest guys on earth but you have to love the game so today once against

Robert

Kiyosaki

they pitched a radio show we're talking about the champions rod

Smith

from the Denver Broncos

Ryan

Boyles from from the Detroit Lions and

Chris

Wedman with it Falcons and Baltimore Ravens so what we're talking about is what happens when you're a young person young man in this case and he's saying that most athletes they go bust even though having millions of dollars so let me start with rod what was it like to be a young man coming from a poor background and suddenly be a millionaire well...
you know one thing that was unique for me is because I didn't get drafted and I didn't

make

a million dollars in the NFL until my fifth year see I was already in and I was making the minimum first the minimum formation I was a hundred thousand dollars first year my first year I made 60 grand in my and my third year I was making a hundred thousand dollars and a year we won the Super Bowl I was a receiver in the league lowest-paid started receiving the league I was making four hundred thousand that's still a ton of

money

trust me for me growing up on welfare and food stamps you gave me anything above twenty bucks I consider myself

rich

so but one thing is because I had the humble beginning when the

money

started to come I kept the principles and and I learned a lot of those principles from the book

Rich

Dad Poor Dad and and I told you story before we were flying to New York I'll never forget it we were going to play the Jets and a friend of mine Ray Kroc a great friend of mine he saved my life in my in my opinion he was he said hey man you need to read this and he reached over the seat cuz I sat behind him and he hand me the book

Rich

Dad Poor Dad I said what the frig teach their kids about

money

that the poor the middle-class don't and I said dude I need that right now and I'm through this poem I didn't give it back I read a hundred page before we even hit the ground and I bought every book and read every book you written every sense so by the time...
my millions came I had some basic some some very very strong principles in place so I was able to take the

money

and do some good things with now trust me I did blow some

money

every no when you get that kind of

money

coming in you start you know treating yourself a little bit cause you deserve it and so so my story's a little bit unique once again

Robert

Kiyosaki

radio show it's also tried

Smith

won't come back would be asking

Ryan

Broyles

player with a Detroit Lions and

Chris

Redman with Atlanta Falcons and Baltimore Ravens what's like to be a young man and to be suddenly

rich

as the theme of this show is that

money

does

not

make

you

rich

you're listening to the

Rich

Dad radio show with

Robert

Kiyosaki

don't be like Charlie Charlie is that do-it-yourselfer who

does

himself in do it yourself is good for tile and grout it is not good for asset protection Charlie thought he'd save a few dollars forming his LLC online with no guidance he did it wrong when he sold the property he lost thousands and thousands of dollars he did himself in by trying to do it himself don't burn yourself use corporate direct to set up and maintain your LLC's and corporations corporate direct is owned and operated by attorney and

Rich

Dad adviser Garrett Sutton Garrett wrote the bestsellers loopholes of real estate and start your own corporation he is

Robert

Kiyosaki

's attorney for asset protection he and his team will do it right visit them at corporate direct...
comm or call 800 six hundred one seven six zero mention

Rich

Dad and receive $100 off your formation fee that's corporate direct comm corporate direct comm log on to

Rich

Dad radio calm while you listen now back to

Robert

Kiyosaki

welcome back

Robert

Kiyosaki

a

Rich

Dad radio show good news and bad news about

money

and you can listen to this program on iTunes or Android anytime anywhere if you listen to this program again you'll learn a lot more but this we archive them so you can speak to your friends family especially a business partners about the subjects our subject today is we have three men on board here who became very

rich

early in life stories go is that seventy percent the estimate of all athletes are bankrupt within two to five years so

money

does

n't

make

your

rich

and I hear so many people say to me when I have

money

then I'll be

rich

and the theme here at

Rich

Dad is that that

does

n't

make

you

rich

money

will never

make

you

rich

because if you don't have the theme or philosophy of

money

in your head as well as the skills that

money

goes right through your fingers that is a problem so I'll read your a funny story because people always and we have pro football players gridiron everybody picks on them because they're not supposed to be the brightest guys on planet earth and the basketball players and you know baseball players were supposed to be a little smarter same as a gymnast but this is baseball great I'll pick on him Curt...
Schilling made a hundred and twelve million dollars over twenty years but he went so broke that in 2013 he begged the Baseball Hall of Fame to return his bloody sock from a famous pitching performance against the Yankees so that he could auction it off it brought in ninety two thousand dollars but the guy had to it was kind of like OJ Simpson hit the Coquette get back as memorabilia to be able to

make

payments so again the theme of the show here I mean a bloody sock my god I wouldn't pay anything yeah anyway those baseball players right you guys anyway so we're going to talk about what to be a young man and suddenly be very

rich

we heard rods story that he was fortunate he didn't get the big bucks when he signed and it took three or four years so

Ryan

Broyles

is a little different story he got injured because he had see the dedication and loyalty to go back to his alma mater University of Oklahoma to play out his final year to support the team and he gets injured but that was a blessing in disguise so

Ryan

what is your story on that and how what what did you what was always it like to become

rich

suddenly as a young man well I think

rich

is relative to be honest with you I think it's just the way you look at it I've got some the interesting stories where I felt like a million dollars is really nothing so for instance when I was a rookie Nate Burleson and Calvin Johnson as a rookie were veterans they both played great careers one of them might be a Hall of...
Famer or will be a Hall of Famer Calvin Johnson so they would always give guys first second round round guys hard times calling us do funny so it's just like a theme of the year all hey honey can you get us system you get a sack and so they actually put me on my place one time not that I was out boasting or bragging I mean but maybe Burleson was actually the heat sent next next to me in the locker and he says you know what that's good startup

money

making it a sale you're like wow I'm

rich

now you know I'm fine for over a million dollars likewise when I since he got drafted that was a lot of

money

now that I was out long again but to be I was like well I I hate it and so to have a veteran's next to me that's making five hundred six hundred thousand dollars a game and I'm making a small fraction of that I was so I knew at that point you know that's a lot of

money

but in all reality if I want to be a great player I will get rewarded with those things so my was more about the rewards of being a great player instead of the actual

money

but don't get me wrong when I when I went back home yes people they looked at you look at you different when you

make

different types of

money

oh.hello so it's really a it's a culture shock for you so I think my process have come into some

money

really opened my eyes it may be be less boy I guess you could say not that I ever was but more humble forest birds and so even at this point now I did have a...
whole honey I'm well more educated those that don't have any

money

whereas in all reality if you have no

money

you should be sticking to these principles even more than so like that so that's essentially right so how old how old were you when you earned your first million 24 that's pretty young that's pretty young well thank you for historian next we're gonna talk to

Chris

wet man NFL career spent with the Atlanta Falcons in Baltimore what was it like to suddenly be a millionaire well you know growing up for me my my parents have schoolteachers so I never had all the

money

but I never knew that I always felt like I had everything I needed you know and and I was in a good school and you know so I really didn't grow up I feel like wealthy and but and I didn't really grow up poor so I feel like I was kind of in them in the middle a little bit I guess I always wanted more you know always wanted to to be you know more more successful but but I just remember in high school you know Friday nights my man it

does

n't get any better than this and then in college you know at the game on Saturday man life

does

n't get any better than this next thing you know it you're in the NFL and you do get you do get paid and I was like man this is this is a good as it gets and so just for me I always felt like I had what I needed to have at that particular time but probably made you know my first million in my second contract I guess and you know which is...
kind of crazy because yeah you could

make

a million and on the on you know on the ticker it says you

make

a million dollars well half of that goes to taxes you know three percent goes your age and you're you know you have other fees you have to take care of me it's you know a lot of that

money

is it looks a little bit different coming across the ticker on the screens you know I think the concept obviously that that you

Robert

and Kim that came up with their spectacular for we're guys that are playing to have some type of residual income when you're finished flames did you start that wider plan so you don't go from making millions of dollars and then as soon as you walk off the field you have nothing coming in I think there's I think there's something to be said there that guys need to look into that a little bit more to be ready for that next type

does

n't that next step in life and that's a it's a tough transition you know it's kind of hard to redefine yourself after you know always being a football player your whole life as soon as you're done you nobody looks at you a football player you're so far behind in business and and you know in everyday life that you know you put a hundred percent and you can ask any guy that played in the league they put 100 percent on that field and that's what your contract on that you're not really concentrating on business and in other things you're concentrate on what you're...
you're attached to your professional athlete you need to know that's where you put all your time in the NFL

does

a good job they have annuities for guys that now it's mandatory to be in where you collect

money

so there's good things but the NFL are doing the NFL is doing but I do think that guys should be more prepared and hopefully you know we can help out some of those guys for the future well said well said so what we're gonna go into next is we'll talk about some of the horror stories because that's what I love to hear you know everybody wants to hear a National Enquirer like I was reading this article this one guy had ten kids and seven wives holy moly another one said the moment he signed that contract his mother says you owe me a million dollars so you have women you have family you have friends and you have investment advisors and you know for years Kim and I were asked by both NFL and the National Basketball Association could we come in and talk to the young athletes about how to manage their

money

and the first person that stepped up against us were the managers they didn't want us getting between their player and you know they didn't want us in there because they want to give them the financial advice and then what happens is that you know it's I don't think I would listen to either you know if I would listen to anybody I'd spend that

money

so I think you know it's just not as simple as giving somebody some...
education so I'm gonna ask you guys to tell a horror story without giving their name some mister rod what's one of the worst horror stories you guys have had a lot of

money

it went from boom to bust well yeah you know what the crazy part is is I was very observant and I knew you know from being the union rep for our team that three years and three games is when you qualify for your pension and NFL but most of the guys who I play with I went in and there was a big rookie class and all them were pretty much out of the game except for like three of us in four years and and and I watched them go through some stuff you know one of my buddies who we played together 12 years I think he bought it with 20 something cars while we were playing and I'm like dude why do you keep on these damn cars dude you got one ass you can only drive one at a time why change cause every every offseason like that when the offseason come up he would have two or three different cars like every all season and and I'm like bro you got to start you know putting some

money

away in this this and that and and I remember it would end up being his last year his wife called me tell my hey listen can you help us I'm like you know you know we just finished this season it was like two months after the season was over his wife called me and said hey listen can you help us I might help you with what you know we don't have any

money

I said what do you mean you don't have any

money

this season...
just ended like you know 60 days ago and she started telling me some things and I said listen I'm sorry I can't give you any

money

I said for years I've been trying to give you guys advice and you know I can't give you any

money

and I honestly I had to leave it at that it is it's hard that you you could help a person but I was really trying to help them you know when we were a year five and year six trying to show them what I was reading and he's these little purple books they could always see me in the back of the plane they could see me in the training room they could see me whenever dozen from downtown when I was at that office they saw rod reading

Rich

Dad books there's a bunch of them and I can tell you one thing that was a testament to not only you and your wife and your vision but one year coach Shanahan let me train the rookies on financial literacy I actually got to bring the rookies in and I had to risk that for that book and I remember I had $30,000 in cash that I put on the table and they were looking at and they was talking over it and I said guys all you spend way more than is going to Vegas I said every one of your cars cost more than this you haven't made a dime in this business and you've already spent way more in this now like no way no way no way and I said listen because it's in cash now it looks important I said but you've been spending the whole time and so I got a chance to actually teach financial literacy to...
the guys but I learned from you and because I would literally follow you all over the country listening your your your shows and go to different events where you were because I didn't want to be on where are they now you know those guys who leave the game and they have nothing you know and they sound like you know with

Chris

and

Ryan

I'm just so proud of you guys because you don't fit that mold and for me that it terrified me that I would be one of those guys they would look back and say man this guy used to have this and now he has nothing so you know that's one of my horror stories I got plenty of them but you know I just wanted to share that one thank you very much hey

Ryan

we about a minute left yet can you give an example of somebody who wasn't away yeah well you really don't have too many extreme stories but I do have a friend of mine that uh you know got that known for a long time that's like excellent college football got drafted in the league and it seemed like he had his home old costume here I guess entourage that he's kind of supported over the years and he would go so I'm like I said car the car nice place a nice place and then all of a sudden you get cut and there's you're essentially on social media living the life of struggle you know a life of defeat so obviously that's one of the stories that I have and like I said you never want to be one of those guys that has the world in your hands and just let it slip so...
that's essentially you know well thank you for that look what's gonna barbecue a second

rich

they're really sure we're talking about what happens when you're the champion and you go from all of a sudden multi-millionaire to broke so we come back we'll

find

out more from

Chris

Redman if he has any stories or friends who squandered it away and then we'll

find

out what rod

Ryan

and

Chris

are doing today to be successfully financially successful you're listening to the

Rich

Dad radio show with

Robert

Kiyosaki

Robert

Kiyosaki

's

Rich

Dad advisors have a great gift for you visit

Rich

Dad advisors dot-com and receive five free reports on business and investing success five free reports that can help you right now and while there check out the author's choice audio series audio is a great way to learn and for as little as $0.99 you can download key chapters from all the

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Dad advisors dot-com for your five free reports and your powerful and affordable audio chapters that's

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Dad advisers calm or great information that can help you right now this is the

Rich

Dad radio show the good news and bad news about

money

here's

Robert

...

Kiyosaki

welcome back

Robert

Kiyosaki

the

Rich

Dad radio show the good news and bad news about

money

we're talking to champions today but the theme of this show is how

money

does

n't

make

you

rich

because these champions became millionaires earlier in life and many of their peers became poor early in life also after making millions so

money

does

it

make

your

rich

because the

rich

a radio program anytime anywhere when iTunes are out Android and you can listen to this program again on

Rich

Dad radio.com we archive this program is cuz repetition is one of the ways we learn more listen to this program again and you'll learn even more those represent but more importantly if you have friends family members businesses but especially young young people you know your kid your children have them listen to these this program because these guys here are not just champions they're stars and they're alright and as a young person I always looked up to them so while we're talking today about if we're talking about what are some of the pitfalls of being a millionaire at young you have friends you have family and all this but for every I like me one of the reasons I wanted to play football that was a nice way to meet the girls and unfortunately I was a fat and ugly lineman and the guys that got all the girls or the chicks were the quarterbacks and I got nothing so we have

Chris

Redman he spent his career with the Falcons and Baltimore Ravens and he wound up as a...
quarterback a professional quarterback I mean that's almost getting close to God and Rod

Smith

also plays quarterback so I don't know what that feels like so would you

Chris

what is it like phew you guys can chime in here what

does

it feel like with women what happens to guys when you're young and

rich

and famous what happens with the women well let me be honest I didn't grow up winning any beauty contests when I was younger and so but the older you get and then obviously being on TV the quarterback gets interviewed he's got to talk about the game he's got it he's on TV a lot that's just part of part of the position leadership a lot of people are looking to him you know even in high school the quarterback you know people are just watched watch what he

does

walking I'm down the hallway is kind of like you kind of get kind of get used to that next thing you know it you're a lot better looking anywhere when you're young and that's just that's just part that's part of it now you know you talk about some stories I've seen guys that played the position that had entourage of women around them that you know wearing fur coats and I you know I'm an outdoorsman and I know what animals look like I don't see any purple animals they're wearing purple first round that was all around I'm like man these guys are probably using their

money

in the wrong ways but anyways it

does

happen and there's no there's a...
there's a lot of opportunity out there for guys but you know you get an opportunity to put yourself in that situation that's kind of we talked about off air a little bit and you know that's that's the one thing that I think that you know yourself is depending what you're looking for and how you want to represent yourself you know that's that's that's in your character if that goes a lot longer than you know a couple one nights deals and stuff and don't get me wrong there's there's a lot of fun things to do a lot of great things but you know you can you can realize that the true people that that they want to be friends and be people around you then you can tell the people that just want to hang on yeah um I guess I'm a little like Kim I love to play golf what happened in my locker room that you know I want to play I like playing golf I'm a real competitive and one guy he came to me yes he said hey what do you wanna play for him like man he let me play for that Lambo you got and you know the drives was to work every day so let me give me the Lambo for the weekend if I win and he's like oh man it's a five hundred thousand dollar car he said he said once you just take my Ferrari it's only 250 and so next thing you know it just wow

money

but it's just it's just crazy that you know it's kinda the same story over and over you hear you know non-stop and and you know people put putting

money

and things that...
that depreciate it it's tough and they goes by real fast well I'll give you guys credit to having the willpower because I know if I was 25 years old making millions of dollars a year and women were all around high B I'd have a good time that's all I wanted to say well we get into now a more important part the sobering part about it is what did you guys do to preserve your gift and your wealth and transfer it into the future so let's start with

Ryan

because your story is really about that isn't that being being a staying with Oklahoma University of Oklahoma one more year to kind of saw the light of what happens how fast like American end right without a doubt you know as you people say the inner fellow Stanford not so long I think I was fortunate enough that you know I guess on the worse side of things getting injured or to open my eyes analogy being a rookie feeling like I had a second chance you know made me look at things a little bit different and then obviously the Hickey symposium that hos that the National Football League holds every year we're just a workshop for all working to go and you learn finances you learn insurance you learn about the new lifestyle and I think at that point you know it kind of solidified with direct smells and ago I professional athlete off the field I went to pick it up books and just learn as much as I could we've been obviously got some nuggets from different sources and I started to figure out you know I at...
one point and if felt really

does

mean not for long so I was kind of preparing myself from day one and so passive income is something that I learned through you

Robert

which I really appreciate it's definitely worked out for my life so far for this point but try to

make

that's all investments I have so initially I started out and in the stock market and maneuvered into real estate we started to evolve a little bit more than that in that aspect and I do want to mention one story I do remember from reading from

Rich

Dad Poor Dad we actually talked about it two years ago it's her place when we do the right here so you talk about investing in properties and easing none of your own

money

and so 2017 it kind of dawned on me at some point you're gonna have to use other people's

money

and so I felt this figure out was buying distressed homes fixing them up adding value to it put a tenant in and you since you have infinite returns when you put your

money

out so that's what I saw to implement in 2017 I remember that from one of the first chapters in your book when you talked about a place in Arizona you and your wife or another partner bought and so it started to

make

sue say how do you go here your cash flow so you can be your own boss because at home and live off of that that's what I've been doing over the last few years well congratulations infinite return is in my opinion one of the most sophisticated financial concepts around that most people...
don't talk about and I learned that in my 20s when I bought my first property for put $2,000 down on a credit card and I'm here 25 bucks and I was hooked at that point as if I can

make

money

with nothing I'm as close to God as I can get so anyway congratulations

Ryan

's website is

Ryan

L

Broyles

vro y le s calm so

Chris

what did you do well you one thing that I've tried to do is have a good team around me I try to have the smartest people that are way smarter than myself and I in business and finance tax as tax is something I've always struggled with and never really understood exactly the benefits that you can get and and so I've always tried to have where we're at I feel like that I'm coming up short I try to have somebody to fill that void and and that's that's one thing that I think is important that you talk about as well as how to have a great team around you and so that's been really important for me you know obviously the NFL helps out with some long-term investments they do but you know unfortunately I kind of had a financial advisor put too much

money

and annuities will you know for a long term which is a huge obviously you know they get these huge Commission's on off of these which I learned in my MBA class way hood but you can't you can't you know buying a house and stuff you can't use that as collateral so I put me in a tough spot sometimes learning the hard way about you know long term investing and...
stuff and so I feel like now I got a good rap and have a good team around me thank you for saying that because a lot of times people talk about annuities and I know there's only one reason for an annuity is to

make

the guy who sells it

rich

and I personally and on top of that you get sued you lose your newett II do you have no asset protection so that's one of the reasons I stay away from as much as I can and brother rod what teach you to when your career was over you know I honestly I tried I'm still I saw ongoing learning from I said so first of all I applaud both of you guys for sharing those stories because I'm sitting here taking notes you know the annuity thing that

Chris

mentioned currently right now I have over 20 different income streams I learned from your books I've been out of the game over ten years now and my whole thing for 2018 is three things decrease bad debt increase my good debt and increase my cash flow is we keep it real real simple and that's what I've been doing this year 2018 is about buying power I finished my book May of last year we're actually

Robert

wrote the foreword for my book the rot effect and it's just a principle that talked about the different things that can keep you from some of these bad situations that happen you know I've owned the International coffee business for the last nine years made millions of dollars in and in coffee and I mean drink coffee because I'm an entrepreneur I look for...
opportunity real estate of course is one of my one of my biggest plays as well and so honestly I just any time you and Kim call me for anything you know I'm going to come because I really believe your financial knowledge that I needed was missing until I got that book from Ray

Rich

Dad Poor Dad it changed my life and so not only just reading the book but you gotta apply it in and you got to have a good coach guys you got to have a coach all of us know from being in sports and some of your listeners I can promise you you know you have somebody who's willing to coach you to have the courage to go ask them to coach you and be humble enough to listen because most people they even though they're good is they're sports you know we're good athletes but sometimes as a good athlete they don't want to listen and that's a lie I always listen to

Robert

and-and-and from afar you know I'm not winning all the time I wish I could but you know I'd really have tried my best to apply everything I've learned from you and I'll put my

money

up and I'll go put the work in and I learned so I never lose cuz I learn thank you very very much for the compliment on that so in final words here you know like we're speaking to a lot of young people today and you know most of them will probably never reach your level in sports or

money

that early in life so even if they're not gonna hit up that big or they're not gonna be that pro athlete for the...
Super Bowl winners give any advice for young people so let's start with

Chris

what would you send young people about

money

today you know I don't think you should get too caught up in like how much

money

you

make

I think it's what you do with your

money

I think it's it's very important to you know how do you want to leave a legacy do you want to leave it you know just buying yourself things but you want to help help the community around you I always feel better when trust me I use my competitive juices from football in the business world now like you know for me you know making

money

is kind of like a scoreboard I try to run that scoreboard up as much as I can but I want to do some good things with that

money

congratulations Thank You

Ryan

what do you advise for younger people I think just to keep it simple with the basic fundamentals like you speak about like a lot of finance with people to think about understand your credit score's understand proper laws understand you know insurance rate understand interest rate you know just learn that the simple basic things because obviously no matter what amount of

money

you amass all those principles stand true so just to keep it simple with those guys really just understand financial literacy right congratulations and broad Oh everybody recommend his book the rod effect because I say rod for last year because you see rod came from the projects to superstardom and a lot of times the people that lose our

money

...
come from projects and so that project mentality travels with them into stardom so his book the rod effect is a crucial book for anybody especially if you have a poor person or you're raised in a poor mentality because her

rich

mentality is very very different than a poor mentality and when the reason I love rods book the rod effect is simply because I had to do the same thing I had to shift from my poor dad PhD academic mentality to an entrepreneurs mentality and the mentalities are different so shaking my upbringing even though I was and we're never well off but just kind of a poor person's mentality poor academic mentality too

rich

has been a struggle for me so rod what would you like to say to the young people today how do I get rid of the poor person's mentality whatever you want to talk about the first thing I would say is based off what you just said the

rich

mentality is attainable and it

does

n't cost you anything my book you can download it for free you can literally download it for free I didn't I didn't write the book for profit I wrote the book for purpose because someone gave me your book and it changed my changed my purpose which increase my profits so I want the the people who grew up with that mentality of well I got to have

money

first cuz that's the theme of the deal

money

does

n't

make

you

rich

most people think you got to have all this

money

if you got a broke mentality you're gonna be broke again very quickly it has...
no nothing to do with the

money

but what did you say Ronnie right what we're gonna say that's why they call broke as they have a poor person's mentality and they're given

money

100 percent

Ryan

said something so key at the beginning of this program he said it shows he got that

money

he went what a

rich

people do he went looked it up see most people won't do that they'll just go copy what

rich

people do they won't go look it up why do they do it it's what you need to

find

out and I love your book because it's all your books is not it

does

n't cost you an arm and a leg you can download this stuff you can get it our stuff off YouTube you can get it from the internet you can learn how to think risk before you ever get the

money

and you can do it before you get the

money

is better because those learning curves cost and they cost a lot you know what trust me I've had some bad investments of course and I learn from him but if I wouldn't have learned early on it would have been worse off I should have been one of those where are they now stories right so rod how how do they download your book where they go to yeah if you go to rod effect calm you know it'll be too little things you click in and says you go to the bottom of it you can download it for free I mean if somebody wants to a hard copy well I actually autograph it and personalize the message to every person you know like I say I do that as well but I I just attributed writing...
that book finally because your book that one book too specifically changed my life so my goal were to give it back give some of this information back and everybody's gonna go through their own thing but that's why you got to have a coach guys you got to have somebody you can have real conversation with not some yes-men not somebody who's gonna just say yes to everything you say and do and because they're getting a check from you you want somebody who check you and say hey no dude you're about to

make

you one of the best one of the worst decisions of your life if you do that you got to have those type of people in front of you and that's a

rich

mentality every

rich

person I know has a coach amen they did not get there on their own hey Michael I could plug we're

rich

dad's coach here

rich

that's education because yeah and Alice another thing is that business entrepreneurships a team sport and most people go to school and they're gonna they want to be the smartest they want to do it on their own you don't have to be the smartest person to be a

rich

and I'm living proof of that so I want to thank all you guys for your contribution for sharing your wisdom any well for sharing a part of the world that very few people will ever ever enter so thank you guys very much I appreciate your insights and your sharing yeah well thank you thank you guys

Robert

thank you appreciate it okay so we'll come back when we're going to ask

Robert

...
you're listening to the

Rich

Dad radio show with

Robert

Kiyosaki

don't be like charlie charlie is that do-it-yourselfer who

does

himself in do it yourself is good for tile and grout it is not good for asset protection Charlie thought he'd save a few dollars forming his LLC online with no guidance he did it wrong when he sold the property he lost thousands and thousands of dollars he did himself in by trying to do it himself don't burn yourself use corporate direct to set up and maintain your LLC's and corporations corporate direct is owned and operated by attorney and

Rich

Dad adviser Garrett Sutton Garrett wrote the bestsellers loopholes of real estate and start your own corporation he is

Robert

Kiyosaki

's attorney for asset protection he and his team will do it right visit them at corporate direct comm or call eight hundred 676 zero mention

Rich

Dad and receive $100 off your formation fee that's corporate direct com corporate director comm

Robert

Kiyosaki

's

Rich

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Rich

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Rich

Dad advisers calm or great information that can help you right now it pays to listen now back to

Robert

Kiyosaki

and the

Rich

Dad radio show welcome back barbecue sacrificially radio show

money

does

not

make

it

rich

because we had three outstanding champions young men who started early in their lives to become champions becoming just getting into the National Football League as a you know I started playing football when I was nine and by that time I got to college I played in all through college and we had a pro football player coming said will come to teach us there's a difference those guys are gods as far as I'm concerned but they

make

millions of dollars and the

money

for most of them are gone most of them are bankrupt within I think seven eighty percent are bankrupt within four four to five years and because

money

does

n't

make

you

rich

so I want to thank

Ryan

Broyles

player for the Detroit Lions Rod

Smith

through time Super Bowl champion three-time Pro Bowler captain of the Denver Broncos and author of the rod effect master of eight philosophies I took me from the projects to NFL Super Bowl stardom and

Chris

Redmond he played for the Atlanta Falcons and Baltimore Ravens so I think...
this young man's for giving us an insight to a world we will never see most of us will never see Elias I couldn't see it anyway disappoint the most popular part of our program it's as

Robert

and you can submit your questions to ask

Robert

at

Rich

Dad radio.com Somoza what's the first question our first question today comes from Sophia in Miami Florida favorite book

Rich

Dad Poor Dad she says

Robert

I've built a successful business and I'm now in my third year unfortunately we had a bad business partner who was stealing

money

from the company I refused to let it defeat me and I'm working to save my business my question is have you ever had to use credit cards or your own personal funds to keep your business afloat if so how do you know when to say when to avoid financial ruin well first of all well congratulate you for taking the risk and welcome to the club I've had more bad business partners and I've had great ones and to me a business partner is like my wife Kim was playing golf today you know we have a good one it's heaven when you have a bad one it's hell it's just like marriage but the question is is how do you

find

that good business partner and most of us in business we don't date you have an idea we

find

this partner and we get off and then we

find

out the guy old girl is a crook scoundrel or a scumbag it's part of business the first thing I would say this I my

rich

dad said to me it says here you

find

yourself...
in a hole stop digging and the first thing I would had would probably be the best advice to use I would talk to a bankruptcy attorney look business is a team sport these guys Rod

Smith

and these guys will tell you that if you don't have good team members who are advisors like I have

rich

debt advisers like Ken McElroy Tom we all right Garret Sutton Andy Tanner Blair singer it took me a long time to

find

my team but once you have a team it's heaven until then we've gone I've gone through every one of my advisers has gone through a bad partner or multiple bad partners it's just part of the process so the first thing to do is stop digging you stop using credit cards talk to a bankruptcy attorney to assess it then talk to an accountant to assess your position and then take advice from them ultimately your decision but you need qualified advice professional advice around well from accountant and an attorney but thank you for the question and welcome to the club just keep your spirits high okay thank you next question Melissa our next question comes from Andrew in New York favorite book

Rich

Dad Poor Dad I know you teach the importance of building a team and I've taken that advice my problem is trust and letting go to let my staff run the business what worked for you and Kim when you decided to let others run your business that's another great question and I don't really have an answer for that I says trust and I wait and I see I mean that sounds...
really stupid you know I think President Reagan said trust but verify and until you do that you don't know if you can trust them so first of all you have to trust and if you don't trust you'll never know so it's kind of a catch-22 which came first you the chicken or the egg well if you don't trust you'll never know and that is one of the toughest I wish I had an easy answer for you but I will say this much all of my advisers including my sweetheart Kim will say this you cannot do a good deal with a bad partner now the good news is out of every bad deal comes a great partner so you can't let go - so I met Kenny McElroy and he and I have gone on to

make

literally probably several hundred million dollars you know but he came from a bad deal we met through a bad partner and this partner I won't mention his name he wound up in jail but I didn't mean Kenny and I had to go to jail you know my first wife Janet she found out I was a bad partner hey you know I fooled around a lot and she so Janet said to me don't don't get married until you can stop fooling around so once a woman I vowed I could stop fooling around I met Kim not Kim but never put up with me if I fooled around yes I understand all this stuff is that you have to look at yourself - is what I'm saying Kenny would not do business with me if I was a bad partner and Tom will right would not back me up on taxes if I was not a Coniston Garret Sutton would not back me up in the law...
if I was a crook and I have a lot of lot of friends you know and they think you know what they say is that why do you know the loss so he can get around it that's not my idea of the law but these guys that's what they do another friend or he's a Russian he says the law that's only a suggestion you know well he's my friend I like him a lot but I won't do business with them because I obey the law so those legal laws ethical laws and moral laws and until you're clear on that it's really really dangerous as to what kind of partner you've had because I've had the same problem I've had attorneys who stole for me I haven't wanted some of the worst people that steal for me are the guys who lead off with a handshake hi are you a

Chris

tian I'm a good

Chris

tian somebody has to lead well I'm a good

Chris

tian I go if you have to say it you're probably not it I do business with great

Chris

tians like you know

Rich

ard and Veronica tan there are hardcore

Chris

tians they live and practice

Chris

tianity but they don't push it on me you see you gotta practice what you think and

find

ing that kind of person is really really really I think the key to life and especially today when you have so many crooked people all over all from leaders all over the world who are raping cheating stealing crooked if you can't trust your team and your partner's you know it's really a tough world so that these questions are very very important...
because there's so many people that will sell their soul for a buck they always want more

money

and I don't know how you talk to those people that they're they're legal the ethics and their morality is available for a buck but you don't know until you do business with them and I wish they could be another way one way to do it is you can ask for referrals and talk to their friends you can you know like some of these professional athletes we're talking to us I think I mention that one guy has ten kids with seven wives I don't know if I want that kind of guy as a business partner and like I said earlier you know if I hadn't shaped up with Kim I would have missed out the best partner in my whole life which is Kim so you've got to be the kind of person you want to be in partnership with that's the lesson of the day so I want to thank all you for listening to the

rich

that radio show you can submit your questions to ask

Robert

at

rich

debt radio again thanks to Rod

Smith

Chris

Redman and

Ryan

Broyles

and may all take these lessons and go out

make

it a better world thank you you