Saving Your Retirement

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

🗓️ 25 January 2023

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

The baby boomer generation is the second largest generation in American history with over 72 million individuals. And they’re all getting ready to retire. The problem is…they have no money. Even worse, generations following the baby boomer generation are worse off. Today’s guest gives his outlook for retirement savings in 2023.

Peter Grandich, author of “Confessions of a Former Wall Street Whiz Kid” says, “I never thought I’d see 33 trillion in debt, not counting the unfunded liabilities of social security, medicare, and Medicaid.” Grandich believes with the current trajectory of economic policies, it’ll only get worse for retirees and those close to retirement age.

Host Robert Kiyosaki and guest Peter Grandich discuss the largest threat to 401Ks and pension plans in 2023 and what each generation can do to save their hopes of retirement.

Transcript

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0:00.0	This is the Rich Dad Radio Show, the Good News and Bad News About Money.
0:07.0	Here's Robert Kiyosaki.
0:08.8	Hello Robert Kiyosaki, Rich Dad Radio Show, the Good News and Bad News About Money.
0:13.4	And today I have a very special guest, somebody I've looked up to for years.
0:17.7	His name is Peter Granditch.
0:20.1	And he's the author of what confessions of a former Wall Street WizKid.
0:25.7	And there is a lot of importance because I speak for all the boomers out there, 1946 to 1960,
0:34.4	whatever they're retiring for, boomers are.
0:38.0	But the boomers had the easiest.
0:40.1	We had the easiest, easiest, easiest, sleigh ride in history.
0:44.5	So we graduate from college, you buy a house, you come to a multi-millionaire, you put
0:49.0	your money in a 401k stock market, it goes up.
0:52.7	And then what's hanging in the background there, Peter, is the balloon.
0:58.3	And beneath the balloon is the US economy.
1:02.2	And the balloon represents the balloon that the Fed, the Treasury and Wall Street blew
1:06.3	into this huge bubble.
1:08.4	So today is my honor to have Peter Granditch here.
1:11.5	Like I said, above all, I've been to the definition of intelligence.
1:15.7	If you agree with me, you're intelligent.
1:18.3	And Peter is a very intelligent man.
1:19.9	We want a little bit of time.
1:22.1	Peter, let's start with why you wrote the book, Confessions of a Former Wall Street
	...

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