Rich Dad Poor Dad author Robert Kiyosaki: You should never say “I can’t afford it”

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Robert Kiyosaki, author of the most famous “Rich Dad Poor Dad” — the #1 personal finance book of all time — challenged and changed the way millions of people around the world think about money. He is an entrepreneur, educator and investor who believes the world needs more entrepreneurs. With views on money and investing often at odds with conventional wisdom, Kiyosaki has earned an international reputation for being outspoken, irreverent, and brave, and has become a passionate and outspoken advocate for financial education. Kiyosaki also wrote “Who stole my pension? author of the book. (co-authored with former SEC attorney and pension fraud whistleblower Edward Siedle) and “FAKE: Fake Money, Fake Teachers, Fake Assets.”

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Named one of “Money’s Most Influential” by GOBankingRates, where he shares the importance of self-taught financial literacy, why he never says “I can’t afford it”, and explains “good” debt and “bad” debt significant difference between.

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What advice would you give your younger self about money?

Choose your teachers wisely. The most important piece of real estate we own is the six inches between our left and right ears. I would tell my younger self to be very careful with ideas planted in that real estate.

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What’s the best thing you’ve done to improve your finances?

For many years, I have attended quarterly investment seminars. Today I attend workshops on YouTube every day. Today, I have access to the best teachers on my schedule – they teach for free.

What are some simple strategies or tools people can use to make sure they’re thinking Smart about their money?

I forbid myself to say, “I can’t afford it.” I’ve trained myself to ask rhetorically, “How can I afford something?” Asking myself how to afford something opens up and challenges my mind—thinking. What we say to ourselves and what we believe is the most powerful force in the world. In my experience, “I can’t afford it” is what the poor say. That’s why they are poor. I have found that there is a difference between “broken” and “poor”. Poverty is a mindset that we all have the power to change.

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What are the biggest mistakes people make when managing debt?

Without financial education, most people don’t realize that there are two kinds of debt — good debt and bad debt. Good debt makes me rich, bad debt makes me poor. A must-have skill for every investor is the ability to understand debt and how to use it to make them richer, not poorer. Ordinary Americans are saddled with bad debts. That’s the price of not protecting those six inches of space between the left and right ears. Find and use opportunities to make money smarter…and how to use debt well.

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Jaime Catmull contributed reporting for this article.

About the author

Gabrielle joined GOBankingRates in 2017 and brings with her a decade of experience in the journalism industry. Before joining the team, she was a staff writer and reporter for People magazine and People.com. Her work has also appeared on E! Online, Us Weekly, Patch, Sweety High and Discover Los Angeles, and she has appeared on Good Morning America as a celebrity news expert.

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