Rich Dad's Advice For 2021

Robert Kiyosaki, author of the #1 best-selling personal finance book ever, Rich Dad, Poor Dad, is very concerned about 2021.

He believes that America is suffering from great social division largely caused by the unfair policies of the Federal Reserve which is picking who wins (the already rich and powerful) and who loses (everyone else) in today’s society.

As a former marine who fought for the American ideals of freedom and fairness, Robert is concerned that the US is fast losing both.

And the damage done to the economy, throwing tens of millions of households out of work and decimating many small businesses, is only making the situation worse.

Having this struggling economy paired with financial markets at historic levels of over-valuation, Kiyosaki fears it’s going to be rough going for those looking to build wealth from here. Which is why he thinks developing financial literacy and creating income streams that you control are more important than ever.

And Robert agrees with Peak Prosperity's outlook that now, more than ever, is the time to partner with a financial advisor who understands the risks in play, can craft an appropriate portfolio strategy for you given your needs, and apply sound risk management protection where appropriate:

Anyone interested in scheduling a free consultation and portfolio review with Mike Preston and John Llodra and their team at New Harbor Financial can do so by clicking here.

And if you’re one of the many readers brand new to Peak Prosperity over the past few months, we strongly urge you get your financial situation in order in parallel with your ongoing physical coronavirus preparations.

We recommend you do so in partnership with a professional financial advisor who understands the macro risks to the market that we discuss on this website. If you’ve already got one, great.

But if not, consider talking to the team at New Harbor. We’ve set up this ‘free consultation’ relationship with them to help folks exactly like you.


This is a companion discussion topic for the original entry at

…whether we like it or not. As far as I can tell, the world’s gone to hell, and we’re all going to miss it alot.

Stack Sats
You want to build wealth? Educate yourself about Cryptocurrency.
You are not going to build wealth in real estate starting from scratch. You are not going to build wealth in the stock market starting from scratch. The chances of building wealth NOW by being an entrepreneur? ROTFLMAO.
Move in with your parents. Stack Sats. Sell your parents furniture on Craigslist, Stack Sats. Study DEFI. Make sick amounts of money.
Look in rearview mirror.
I was glad to hear him mention BTC. Of course that garnered zero response from AT. Big surprise there. lol
STACK SATS- then buy real estate for pennies on the dollar

“Educate yourself about Cryptocurrency.”-Didn’t you recently call Bitcoin mining “military grade encryption”? Bitcoin’s mining algorithm is an example of something called a cryptographic hash function. Cryptographic hash functions are not used to encrypt. You are the one who needs to educate yourself about cryptocurrency.
By the way, people who stack sats are precisely the people who are uneducated about cryptocurrency because Bitcoin attracts uneducated people with its mining algorithm that was never designed to advance science. It is quite sad how people who promote Bitcoin are simply appealing to people’s greed and hatred for science.

It gave me a smile of realization to hear him say the Austrian school of economics was founded on principles from Thomas Aquinas. On the face of it this contradicts what I wrote three weeks ago, but it actually supports a broader theory I’ve been thinking about for years, that there will first be a renaissance of Austrian economics before the WEF/NWO authoritarian dystopia, since the same group seems to control both sides. I’ll just leave that as a speculation and not give my reasons, except to say that each side would get something like what they are looking for in order to manufacture consent and cull memes. A more complete analysis would involve a lot of observations on religion.

Mr. Kiyosaki “if your smart you will get rich if your stupid you’ll get poor”.
This statement was a belief wrapped in a joke at which both Robert and Adam chuckled at. Mr. Kiyosaki provides valuable education and has helped many. Certainly no malice was intended by Robert or Adam. However, today there are many people unemployed, many who have lost businesses and many facing homelessness. Circumstances forced on people making them poor and desperate. Seemingly innocent remarks can be a catalyst for defeat, depression and suicide. No one wants to be poor and the poor are not stupid or lazy. Many have to work multiple jobs to survive.
I have, in the past, been banned for my defense of the poor (my perspective) but as a society, I believe, our demise will be inequality. My heart aches because I do not think people understand how egregious the harm is by such beliefs as the one stated above. Yes, I am an odd duck and too sensitive but I have an over abundance of compassion and people are hurting.
For anyone reading this who feels desperate, defeated and suicidal please call the national suicide hotline at. (800)273-8255. Poverty is a form of control by the elite and powerful, it’s not a result of a lowly class of stupid people.

This is a common Kiyosaki sentiment that, to anyone not familiar with his shtick, can sound demeaning and elitist. His passion is education and motivating people to attain financial literacy in order to level-up. The terms “smart” and “stupid” that he used refer specifically to the broader context of financial literacy.
I believe he meant, “Starting with a bit of wealth in these uncertain times without financial education, that wealth will be lost; but with financial literacy will come increased wealth.” (Granted, it’s not as pithy or hard-hitting as the original. :slight_smile:

There is a very large difference between smart and “financially smart” . It is why people who win millions in the lottery end up broke. I have met some pretty stupid people who just know how to make money and keep it. It is a different form of intelligence.

Thank you for sharing your perceptions!
Normally the comment that was made, I would have taken as benign a colloquialism if you will.
But as I watch the evening news a favorite diner my husband and I go to, as well as other family members was featured on the evening news. Here, all bars and restaurants are closed for all of December except for outdoor dining and takeout. It is currently 1 degree outside, too cold for outdoor dining. The owner of the diner doubts he will survive this lockdown. And many other businesses are forced to work at substantially reduced capacity.
I am able to empathize with with the owner of the business. How about you? Can you imagine loosing your business, your income and the knowledge that suddenly you are unable to provide for your family like you did in the past. How would your self respect do? Confidence? Faith in the future? Would the stress affect your marriage, plans for kids braces, college or those truck repairs?
Our national motto should NOT be “I am doing fine - it sucks to be you”.

Along with certain bodily parts.
None of what you posted has anything to do with Robert Kiyosaki.
You have your issue. We get it.
It actually sucks to be an Amerikaan.
1 Degree too cold to eat outside?
Hahaha It’s Alaska. That is balmy. Toughen up

I see you are promoting RK’s investment advice as an answer to wealth inequality. I just want to point out something I feel strongly about. I attended one of his wealth building workshops years ago where he and his staff promoted the idea of maxing out credit (cards and all) in order to buy housing with ‘other peoples money’ in order to make big bucks in real estate investment. I suspect it works for all the wrong reasons and it contributes to the wealth inequality we see today. A home is ones main source of financial security. If investors are scooping them up on the scam using multiple credit cards just to make the down payments and fool the loan agents, or if Blackrock is out there buying everything nailed to the ground, it creates unfair competition for the average new home buyer. They have no chance when there are multiple offers all in cash often the day of if not before the listing. This just plain sucks. The ‘haves’ get in and build their wealth, then go on to bonds and stocks to make it bigger. The rest of the workin’ man types, are squeezed out of home ownership, and they cannot get ahead. Then the greedy landlords, not satisfied with wealth on paper, start raising rent to generate more income for themselves… to do what?.. oh yes make another down payment on another house they will never live in. It is a travesty that our tax code allows investors to write off mortgage and proper tax on all their properties. This should only be allowed on one home. That would put a damper on this scam that is a major contributor to the wealth gap. I hope you share my concerns with the PP readers. I bet many view the real estate investment game as a win-win, not realizing how it messes so much up in America.

I would suggest the number of people “maxing” out their credit cards to buy real estate is minimal. I have been a real estate broker for 35 years and never met anyone who did that. I have invested in numerous properties and never did that.
That said using legal means to raise money to invest in real estate is called Capitalism. Your solution of using the tax code to prevent real estate investment is totalitarian socialism.
I suggest you study the social engineering of the last housing bubble and the effects of government interference

Found this video of Kiyosaki talking about gold , silver and BTC.
A lot of it is political, but at the end he says he bought BTC at $9000

Steve started out - “I just want to point out something I feel strongly about.”
Steve was sharing his valid perspective. I would suggest that an approach of seek to understand certainly encourages a diverse conversation.
Instead “I have been a real estate broker for 35 years and never met anyone who did that. I have invested in numerous properties and never did that.” Also, “Your solution of using the tax code to prevent real estate investment is totalitarian socialism.” These say “ I am right and you are wrong.
And lastly - “I suggest you study the social engineering of the last housing bubble and the effects of government interference”. You tell Steve to go educate himself. Message - I am smart your not.
What would have been wonderful to see is this -
Steve I see you joined in 2012 and this is only your second post. Thank you for sharing something you feel strongly about. My experience as a real estate has been different than yours but your experiences have provided a unique view that have created strong feelings.
Instead, as often is the case here, the message is I am right, I am smart, and you need to see the world my way.
There are a handful of copious posters here who grace the site with their superior intellect, the proper view of the world and the correct supporting data. Unfortunately, when people post and say “I have a strong feeling about something” they are often criticized and demeaned. I know this only too well. This site is ever so much richer when diverse voices, opinions and perspectives are allowed to be shared rather than shut down.
Here is a novel idea - lets be kind when people share ideas. Enough of the continual “I am right and you are wrong” chest thumping. I for one would like to hear more from Steve. And Steve your perspective has merit and is just as valid as anyone’s.

This is a good advice – but with some limitations. If one really wants to look forward, one has to be aware of the upcoming Quantum Computing revolution.
China puts out some scientific papers and announces breakthroughs (, Google – which is the world “leader” does not announce anything. One can be assured that the public will only learn about QC several years after this technology has been implemented at NSA. An obvious target: crypto private codes (including BTC). So, is DeFi, i.e. blockchain DLT, a bullet proof technology – maybe for a couple of years more…
Worth of following the developments here because nothing is static. A good introductory article here: )

I suspect that I am smart enough to present a little insight to the discussion. I have bought and sold homes many times over 5 decades including buying from FSBOs and selling as a FSBO. There have been many real estate agents who have come and gone along the way, some useful and competent, but often just do-nothing commission collectors who gain from a stranglehold on listing rights and all too often representing investors (if not one themselves). This is slowly changing with the internet and ‘defi’ methods (including things like Etherium based contracts others have implicitly referred to here). The problem with the profession, as I see it, is illustrated by Mohammed’s response which is a common ploy of the ‘haves.’ Basically it puts Capitalism above Utilitarianism. It is symptomatic of what I think is wrong with the USA and the whole world today. People are out to get everything they can for themselves without consideration of the big picture of what it does to the economy, other peoples’ health and welfare, other species trying to survive as we destroy their habitat, and the health of the whole planetary ecosystem itself. Capitalism is a major problem. Communism obviously does not solve the problem. No other ‘ism’ is likely to solve the problem, be it social, economic, or religious (including any ‘ianity’). The root problem is Ayn Rand style self-interest and plain greed, the unacknowledged guilt for which is all too often papered over by token contributions to charities that seek to counteract the harm done. The greed comes, when not from insensitivity, from human nature hoarding in the face of uncertainty and anxiety about the future exacerbated by a Horatio Alger myth that few who have made it ever question, and justified by alpha male type hypnotic rhetoric (Kiyosaki). No form of government or economic system will solve these problems, as we have seen over recent history. It has to start from a recognition of what the consequences are for other people, the environment, and all life, of our individual choices. The recognition has to be coupled with action. I think the next generation are starting to get it. So, not to pick on Mohammed, but I would suggest he and other ‘capitalists’ read some books by Robert Sapolsky or watch some of his videos about Baboons to get some insight into the situation we are in.

Was not familiar with Robert Sapolsky (Professor) so I went to Audible and listened to samples of his books. Downloaded his book “Being Human: Life Lessons from the Frontiers of Science”. Looks like it is part of The Great Courses series.
Thanks for sharing.

Here is his Ted Talk (Professor Robert Sapolsky)

  1. We are a miserably violent species
  2. When it’s the right kind of violence we love it
  3. We are also an extraordinarily compassionate species
  4. And much more

I am not a big fan of relentless profit seeking that seems to be the message from Kiyosaki. I was told a story (which I hold to be true) of an offspring from a wealthy entrepreneurial family, who asked his (successful) grandfather for advice, having realized in his mid 30’s his fun seeking and carousing was not adding anything to his financial security. His grandfather said, relax, now is the age for you to have fun, there is lots of time to make money. Every ten years or so there will be an exceptional opportunity, wait, chose your time, have fun. He became a wealthy man (on his own decisions), is a lot of fun, not focused on money. When I was travelling in east Africa, I was with a hedge fund guy watching some nile crocodiles, I opined that the nile crocodile needs to make a kill once a year to eat enough; he thought for a minute , then said, “I only need to make a kill once every three years or so”; same sort of message, he was a lot of fun too.

But before I point that out let me say. Gee thanks Steve for your input. Even though you have only made three posts you do offer a very valuable perspective.
Now Granny is happy we can get to your points.
You have bought and sold real estate over 5 decades. Was it Utilitarian? Did it benefit the “MAJORITY” , or was it solely for your benefit? Were the transactions entered into freely bu consenting adults? If so I assume then that both buyer and seller benefited. That makes it a win / win situation. So I assume since you were able to purchase reals estate you were a “have”. You did not mention that you used Kiyosaki’s methods so we are left to assume not even though you were interested enough to be more of a "have " to take the course.
This by any definition makes you a capitalist which you see as being a major problem “We have met the enemy and he is US” I suggest that you have not gleaned much being a member here for 8 years. If you had you would know that the US has not been a "capitalist " country since Dec 23 1913. We have a centrally planned and controlled economy. Capitalism is the sum total of actions by free actors in a market place… Having acted as a capitalist in real estate you must be carrying a great deal of guilt . After all you did not think of the “MAJORITY” when you bought and sold real estate.
" There have been many real estate agents who have come and gone along the way, some useful and competent, but often just do-nothing commission collectors who gain from a stranglehold on listing rights and all too often representing investors (if not one themselves). "
Now this one I found particularly hilarious. Paint with a broad brush much Steve? “Stranglehold on listing rights? WTF. Again a real estate agent provides a prospective seller with a market analysis of what the property is likely to sell in current market conditions. The term of the listing contract is negotiable as is the commission. There is also the Exclusive Agency listing which gives the owner the RIGHT to (being a capitalist) sell his own property w/o paying a commission. There is no force involved in procuring a listing . A seller is free to interview as many agents and get as many referrals as he/she wishes. It is a contract entered into by 2 freely consenting adults. What does the seller get in return? Property listed with an agent bring higher prices. Property listed with an agent are listed in a Multilist which gives wider exposure (the internet has changed that quite a bit) putting every member Realtor in your employ. Being good “capitalists” they are very eager to sell your property. The listing contract makes the agent your fiduciary which means he/she is bound by law to treat your interests as his/her own. I could go on and on Steve but you and Granny won’t get it. Capitalism bad Majority good.
You post that no “ism” will solve the problem but then promote UtilitarianISM. I must say I am confused. “Not to pick on Mohammed” lol but he uses a ploy common to the “haves”. Yep I am a “have”. No apology there pal. I hope you are a have too. But don’t categorize me on some small sample of real estate agents you had some limited contact with. I have worked my ass off to “have”. You have not even sniffed my moccasins, let alone taken a step in them. 95% of real estate agents last 3 years and then yes they are gone. They are gone because it takes a tremendous amount of knowledge, skill, wisdom and TIME. Real estate agents work 24/7/365.
You have a lot of judgement w/o much knowledge or wisdom. What does Kiyosaki do with his “have”? What do I do with my " have”? Well Steve it is none of your business. We are citizens of the universe endowed by god with god given rights among them LIFE< LIBERTY AND THE PURSUIT OF HAPPINESS.
I suggest the problem is people like you who are not clear about who they are or what they are about.
There is a story about the Prophet may God Bless Him and grant him Peace.
A woman came to him complaining about her son who would not stop eating green dates and they would make him sick. She wanted the prophet to tell him stop.
He said come back in 2 weeks.
She came back in 2 weeks with her son and the Prophet told him to stop eating green dates. She then left with her son.
The Prophets disciples curious asked why He did not tell him to stop 2 weeks ago?
He said because 2 weeks ago I too was eating green dates.
So Steve when you completely stop being a capitalist and all your actions are solely for the good of the MAJORITY get back with me.