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Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

How to Use Taxes and Debt to Build Wealth

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.1 • 3.9K Ratings

🗓️ 23 October 2024

⏱️ 34 minutes

🧾️ Download transcript

Summary

In this episode of Rich Dad Radio Show, hosts Robert Kiyosaki and Kim Kiyosaki are joined by financial experts Tom Wheelwright and Jason Hartman to discuss the critical importance of tax strategies and smart investments in today’s unpredictable financial environment. If you’re serious about protecting and growing your wealth, this episode delivers actionable insights into leveraging tax incentives and making strategic investment decisions that align with government policies.

Maximizing Investments with Tax Incentives

One of the key takeaways is the power of tax incentives for wealthy investors. Tom Wheelwright explains how investing in government-promoted sectors—such as real estate, energy, and agriculture—allows savvy investors to minimize their tax burden while supporting economic growth. This strategic allocation of capital helps investors keep more of their profits while complying with tax laws.

The Role of Financial Education

Robert and Kim Kiyosaki emphasize the importance of continuous financial education. They discuss how having mentors and staying informed about market trends are essential for navigating volatile markets. Education not only helps you make better decisions but also positions you to capitalize on emerging opportunities.

Real Estate: A Reliable Asset Class

Real estate remains one of the most stable and proven asset classes, particularly income-generating properties. Jason Hartman shares insights on how to identify "boring" markets that offer steady returns without the dramatic swings seen in hot markets. The episode also touches on adapting real estate investments to changing work habits, such as converting commercial spaces for residential use.

Strategic Use of Debt

Debt, when used strategically, can enhance investment returns and maximize tax benefits. The panel discusses how managing debt wisely can amplify gains, especially in real estate, where leveraging investments is a key strategy for building long-term wealth.

00:00 Introduction 
00:57 The Importance of Education in Real Estate
01:27 Navigating the Current Real Estate Market
03:32 The Role of Debt in Real Estate Investments
05:41 Tax Benefits and Government Incentives
08:12 Choosing the Right Markets for Investment
14:48 The Value of Coaching and Being Coachable
15:48 Financial Security in Uncertain Times
16:10 Market Crashes and Economic Bubbles
16:53 The Decline of American Institutions
18:09 The Value of Coaches and Mentors
18:21 The Flaws of Saving Money and Taxation
19:54 Opportunities in Market Crashes
24:49 The Future of Real Estate and Commercial Spaces
29:15 The Importance of Financial Education


=====
Please read carefully.

This is not financial advice.

You may be asking, “what does that mean?”

Let me explain…

Do not just do what I, my team, or my guest says. That would be stupid and irresponsible. Take the education, then use your own brain and make your own decisions.

YOU must take responsibility for your future and your success. That is why you are here. Neither I, or my team, or my guests, know your risk levels, prior education, emotional maturity, or how much money you can afford to lose. 

We are only telling you what we believe to be smart moves. But you must decide for yourself. There are NEVER guarantees. 

Also understand that we are REAL teachers. We practice what we preach. With that in mind we often invest in the very projects that may be mentioned on this show. While it is never our intent, we could possibly profit from others investing in our recommendations.

Take the education we provide but then determine your own actions. If it does not make sense to you, get more education before you invest. We will continue to provide education and there will always be more opportunities.


Transcript

Click on a timestamp to play from that location

0:00.0

This is the Rich Dad Radio Show, the good news and bad news about money.

0:07.0

Here's Robert Kiasaki.

0:08.8

Hello and welcome to Rich Dad World and we have a very special show today. We've got two great guests, one you've seen before,

0:16.0

Tom Wiel Wright, who is our tax strategists, our personal and business, tax strategists, and CPA.

0:21.5

And one of the, well and one of the well one of the smartest guys when it comes to taxes

0:26.1

because he enjoys reading the tax code it like entertains him it puts all of us to sleep but it entertains him and that's who you want on your team.

0:36.1

So Thompson part of our team for many, many years and a key player in the whole Richdad

0:41.1

world.

0:42.4

And Jason Hartman and Jason is a CEO of Empowered

0:45.5

network empowered investor network and it is a real estate education and

0:50.7

referral network the then of course Robert is here and we are going to be talking about what we always

0:56.4

talk about the power of education specifically real estate but beyond that as well because today you know as we all know crazy

1:05.8

crazy times we don't know what's coming tomorrow so the more prepared the more

1:11.0

educated we can be the better we are so I'm going to stop talking at this

1:15.7

point and let our esteemed panel take over and I'm going to turn it over to you

1:20.4

Robert welcome well thank you very much and there is especially today in this insane world. It is insane

1:28.9

that you better have more education, not less.

1:33.7

And the worst thing to do is do nothing because you're confused.

1:37.3

You make up your mind either way,

1:39.2

either in or you're out.

1:41.5

Well, what I mean by in or out, are you in education or you're out of it?

1:46.0

And the reason for that is in every investment, there's the macro and the micro.

...

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