New book from NYT bestselling author Lewis Howes is now available!

New book from NYT bestselling author Lewis Howes is now available!

Summit of Greatness 2024 | September 13-14 | Los Angeles, CA


Robert Kiyosaki

How to Become Wealthy in a Down Economy (The Rich Dad Poor Dad Guide)

Making money isn't impossible during a recession.

Are you heading in the direction of your dreams?

Steve Jobs said, “If today were the last day of your life, would you want to do what you are about to do today?” I love this quote because it gets you thinking about where you are in your life against where you really want to be. Today, I want you all to be thinking about this. 

Right now, many of us are experiencing a financial recession mostly brought on by COVID-19. Plenty of businesses have shut their doors while many others have laid off employees, and the effects are being felt in most corners of the world. So when everything seems to be against us, is there absolutely no way to become wealthy?

In times like these, fear creeps in and further sabotages our plans for becoming economically relevant again. But there is more than one way of being smart about money during a financial crisis and ensuring that the effects of future recessions are not disastrous.

To drive home this message, we have Robert Kiyosaki, the author of the internationally bestselling book series on personal finance, Rich Dad Poor Dad, with us today. Robert is here to talk about the most challenging lessons he has learned from business and how you can thrive in the midst of a recession.

“You’re only poor if you give up. The most important thing is that you did something. Most people only talk and dream of getting rich. You’ve done something.” – Robert Kiyosaki

If you are ready to do something about your situation instead of giving up on your dreams, then you, my friend, are at the right place. But before we begin, I would quickly like to introduce you to this charismatic human — Robert Kiyosaki.

Who Is Robert Kiyosaki?

Robert Kiyosaki is an entrepreneur, investor, motivational speaker, educator, financial knowledge activist, and bestselling author who firmly believes that the world needs more entrepreneurs who can create jobs. 

Robert is the founder of Rich Global LLC and the Rich Dad Company, a private financial education company that imparts personal finance and business education to the masses through videos and books.

Robert’s internationally acclaimed book series Rich Dad Poor Dad has sold massively worldwide. It compares his two “dads” — one was his poor biological father and the other a fictitious rich dad. The poor father was very educated but had no money. In contrast, the rich father was a high school dropout and was, in fact, Hawaii’s richest man. This book is a must-read if you are starting out on your financial journey. Robert’s got a new book out — Who Stole My Pension?: How You Can Stop the Looting — which is now available online for purchase.

“I’d rather welcome change than cling to the past.” – Robert Kiyosaki

I’m so glad you’re here today to learn how to make some changes in your financial situation in a down economy by optimizing the situation. We’ve got one of the icons in this space, Robert Kiyosaki, to share his wisdom and personal perspective. Let’s begin!

The Three Kinds of People and the Opportunities That Exist

Are you afraid of dying? If you thought ‘yes,’ then Robert thinks that you are already dead. In the marines, they call such people ‘corpsmen.’ A corpsman is a person who is already dead but doesn’t know it yet. The fear of dying keeps one anxious and on their toes, mainly because they have given up. If you are not taking action to take back control of your life, health, and finances, you will never come out of the pit you are in. To understand how to get out, let’s first try to understand the three kinds of people that exist, according to Robert.

“There are three kinds of people in the world. The first kind is ‘fragile.’ … They are like champagne flutes, … you hit them, they shatter. The second kind is called ‘robust.’ A robust person is like a rock; you can pound a dump on them, they take it, but that’s all they do. … And then there is ‘antifragile,’ who is somebody … who gets smarter and better because … of the crap that is dumped on them. [Such people thrive].” – Robert Kiyosaki

The pandemic has been a testing time for all of us across the globe. The baby boomers and the older generation suffered as they lost all their pensions, health care, and more. But Robert believes that the COVID-19 pandemic has presented itself as an opportunity, at least for the younger generation of millennials. Are you curious to know how?

“This pandemic-induced crisis is the best thing that ever happened to [the youth]. [When] you think [of something like the] iPhone — you have more power in that iPhone than I had with my … mainframe computer. … The economy may be bad now, but this is the best time for [the millennials] because you all are tech-savvy. I’m not tech-savvy, … but you guys have got this made for you. The older generation like me are being cleaned out by the pandemic.” – Robert Kiyosaki

That’s a beautiful example of how bad times in the end almost always lead to good times. Maybe in the next 5-10 years, when you, the younger generation, sit down and think about your life, you will either think of how those years screwed you up or hurt you, or you will ponder over how to make the best of the things you have learned through all the hardships. If you find yourself in the latter, then you will always find a way to build upon your skills, get more creative and hungrier for growth, and eventually find yourself surrounded by opportunities for your taking.

“Some people are looking for the challenge, some are looking for security.” @theRealKiyosaki  

Peacetime and Wartime Leaders — Which One Are You?

Robert very strongly feels that the best teachers cannot be found in schools and colleges but on places like YouTube. Our school systems teach us nothing about how to deal with our emotions, finances, or health, but for us to do well, we need a balance in all three. Steve Jobs, Mark Zuckerberg, Walt Disney, Michael Dell, and many more highly successful entrepreneurs all dropped out of their schools or colleges and still managed to create things that are revolutionary for the human race.

Patrick Bet-David says that there are two kinds of leaders — wartime and peacetime leaders. A peacetime leader is a guy like my poor dad who goes through all the right schools, has the pedigree and credentials, climbs the corporate or the government ladder, … and basically does all the right things. And wartime leaders, they go to war. Steve Jobs was a wartime leader, so am I. … [Every time someone put me down], I come back stronger and tougher.” – Robert Kiyosaki

With world health and the economy being on the brink of collapse, it’s critical to understand the kind of leader you should be at the given time. How can you make the most of the current situation so that you come out of this unscathed?

“What happens to entrepreneurs who go out and get their ass handed to them and survive? If you survive, you [start viewing] the world differently. That’s what will happen to you when you get injured in all this — you will start seeing a different world. Whereas the ones probably climbing the corporate ladder right now, and they just lost their job, they’re just sucking their thumb, … if you’re an entrepreneur right now, the world’s open to you. But if you’re an employee, the world’s dead to you. Entrepreneurs can create their own success. … So this is the best of times for the wartime leaders, and a horrible time for the peacetime warriors.” – Robert Kiyosaki

While not all of us have the inclination and passion to be entrepreneurs, we can still develop the skills required to be wartime warriors. Due to the world’s current situation, there are challenges at every corner and in everything that you do, but the wartime spirit can help you get back on your feet every time you fall. Being fearless and working toward your goal with focus will make any hurdle surmountable, though it may require several attempts. It’s up to you how you can capitalize on it and turn it into an opportunity.

Why You Should Listen To This Robert Kiyosaki Podcast Episode Right Now…

Folks, thank you so much for reading this post. I am energized today by Robert’s wisdom and how he inspires others to move toward a prosperous future. If you, too, found value, then I would recommend that you watch the entire episode here. To make our work at The School of Greatness more impactful, please share this episode with people you know who would benefit from it.

In the end, I asked Robert what his definition of greatness was; this is what he said:

“Getting up every day, [is my definition of greatness]. At my age, you have to worry about that stuff. I planned to die at 72, and I almost died so many times. I went down three times in Vietnam, … I’ve had open-heart surgery, cancer, pneumonia, and malaria, but each one of them inspired me to get healthier.” – Robert Kiyosaki

To learn more about Robert’s work and his Rich Dad community, you must check out his website. You can also follow him on Facebook, Twitter, YouTube, and LinkedIn. If you enjoyed this episode, then I would appreciate it if you could leave us a five-star rating on Apple Podcasts and help us in our endeavor to help as many people as we can reach. The icing on this would be if you could also tag Robert, @therealkiyosaki, and me, @lewishowes, on Instagram with a screenshot of your greatest takeaways from this episode.

Before I end this post, I want to remind you that you matter and are an incredible human being born to do great things in the world. You were born for greatness, and it’s inside of you. You may not feel great, you may not feel good or even feel average at times, but that’s okay. You can change by doing little actions every day to build your belief and build yourself into the great things you want to do and be. I believe in you.

To Greatness,

Lewis Howes - Signature

“Knowledge is finite, stupidity is infinite; so stay stupid.” @theRealKiyosaki  

Some Questions I Ask:

  • What were some wake moments for you as an entrepreneur? (1:25)
  • Can one get rich without being bold? (11:28)
  • What’s the next step to get through this pandemic market? (16:18)
  • What does “define benefit” mean? (40:51)
  • What’s your projection of real estate right now? (48:17)

In this episode, you will learn:

  • What Robert learned from his first big success and failure (6:42)
  • How young people have a lot of opportunity due to the pandemic (14:21)
  • The three types of people in this world (18:15)
  • The difference between peacetime and wartime leaders (24:13)
  • Robert’s feelings about the stock market (28:10)
  • What the pandemic is doing to the economy (36:18)
  • Plus much more…
Connect with
Robert Kiyosaki

Transcript of this Episode

Music Credits:

Music Credit:

Kaibu by Killercats

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