Education is what you learn after you leave school.
— Robert Kiyosaki
If you look at anyone who has achieved great success and wealth, people like Warren Buffett, Oprah Winfrey, or Lance Armstrong, they have all focused intensely in order to win.
My rich dad believed we should all learn to take care of ourselves.
When President George W. Bush attempted to reform Social Security, that proposal was more unpopular with Americans than the Iraq war. People love their entitlements.
Pricey oil makes clear that wealth really is energy in various forms.
As you know, low demand and high supply means a drop in value of anything, including the dollar.
Many people aren't rich because they're liars.
I do know that throughout history, all paper money has eventually come back to its true value, which is zero.
John D. Rockefeller apparently became more of a tightwad the richer he got. I don't know if it is true, but one story I read was about one of his sons having to wear his older sister's clothes in order to save money.
If medical doctors can be sued for malpractice, shouldn't financial professionals practice under the same safeguard?
It's human nature to blame someone else for your shortcomings or upsets.
I resigned from the Marine Corps and flying in 1974, even though I loved them both. I quit because I no longer wanted to fight for peace. Instead, I believe we can build a more sustainable peace by working for prosperity.
If you've lost your spirit, even living in the richest country in the world can't help you become rich.
We misjudge risk if we feel we have some control over it, even if it's an illusory sense of control.
When I was a kid, there were no credit cards. Instead, retailers offered layaway plans. My mom would go to a store, such as a furniture outlet, choose the sofa she wanted, and put it on layaway. That meant she put a little money down to hold the sofa, and every payday she'd pay a little toward the purchase.
Bad debt is debt that makes you poorer. I count the mortgage on my home as bad debt, because I'm the one paying on it. Other forms of bad debt are car payments, credit card balances, or other consumer loans.
Deflation isn't good, and inflation is easier to cure than deflation.
You have to look for teachers. If you want to be a mechanic, go hang out with mechanics.
Many financial advisors recommend that you diversify for your own protection. What they fail to tell you is that it is also for their protection. Since most financial advisors cannot tell you exactly which stock or mutual fund is a great investment, they tell you to buy a bunch of them.
An active investor is someone who actually lives off their investments as opposed to wages from a job.
By 2003, every fool was getting into real estate. The checkout girl at my local supermarket handed me her newly printed real estate agent business card.
One of the reasons so many people get burned in the market is because they start buying as they see prices going up.
As long as you blame someone or something else - something outside you that's bigger than you are - as the source of your problems, the problems won't get solved.
Being politically correct means saying what's polite rather than what's accurate. I like to be accurate.
The Spanish Empire eventually collapsed because of its expensive taste for warfare and conquest.
We've all heard stories of lottery winners, rock stars, heirs and heiresses, and professional athletes becoming millionaire morons who wake up rich but are broke by nightfall.
At the height of the Enron mania, the company's market value was $65 billion. Once the dust cleared, the final value was $0.
Managing your own property can be a full-time job.
The rich are those who play to win. The middle class plays not to lose.
French fries kill more people than guns and sharks, yet nobody's afraid of French fries.
When I was young, many people worked for a company with a pension plan that covered them for as long as they lived. If they didn't have a pension plan, they could count on Social Security and Medicare.
When I was young, people lived from paycheck to paycheck. Today, it seems like they live from credit card payment to credit card payment.
An example of good debt is the debt on the apartment houses I own. That debt is good only as long as there are tenants to pay my mortgages. If tenants stop paying their rent, my good debt turns into bad debt.
A short squeeze could happen with the U.S. dollar if lenders suddenly forced debtors to pay in cash.
From 1945 to 1974, the Western world - including America - was more socialistic than capitalistic, more pro-labor than pro-business.
Learn to invest in investments where you can achieve an honest, legal advantage over other investors. When it comes to investing, why play on a level field?
Commodities such as gold and silver have a world market that transcends national borders, politics, religions, and race. A person may not like someone else's religion, but he'll accept his gold.
For people who live in the suburbs and must commute long distances to work, their wealth will sink as energy prices rise.
Warren Buffett is famous for talking about the 'intrinsic value' of stocks. But while many people parrot this phrase, few know what it really means.
People who lie to themselves about investing are the same as overweight people who blame their genes for their obesity.
I'm always amazed at how many people assume a business has to lose money before it makes money.
Generous people can become more generous as they become richer, giving away vast fortunes to worthwhile causes as Bill Gates and Warren Buffett are doing.
Remember that all financial markets are filled with good but not necessarily innocent people looking after their own self-interests before they look after yours.
Ken Lay, the disgraced former chairman of Enron, found a way to escape his legal problems: He died after being convicted of fraud and conspiracy charges.
Many novice real estate investors soon quit the profession and invest in a well-diversified portfolio of bonds. That's because, when you invest in real estate, you often see a side of humanity that stocks, bonds, mutual funds, and saving money shelter you from.
It's tough to negotiate from a position of weakness.
Even though the risks of death are higher driving than flying, many people would rather drive simply because they feel they have more control driving. The facts are that only a few hundred people die a year flying, and 44,000 are killed a year driving.
The minute a Wall Street firm purchases your debt, your bank no longer has it on its financial statement, which then allows the bank to look for more credit card customers. That's one reason why you get so many credit card offers.
Many U.S. investors are already investing overseas rather than at home.
In the simplest terms, inflation occurs when there's too much money in the system. On the flip side, deflation occurs when there are too few dollars in circulation.
