Robert Kiyosaki Rich Dad’s Guide to Investing: Long-Term Strategy

Ladies and gentlemen, today we have an extraordinary group of brilliant minds who’ve each mastered the art of building wealth and transforming lives. These are the people who not only walk the talk but have paved the way for generations to come with their insights and strategies.

First up, we have the man who’s revolutionized financial education for millions—author of Rich Dad's Guide to Investing, the one and only Robert Kiyosaki, here to show us how to move from earning a paycheck to creating true wealth through smart investing.

Next, one of the greatest investors of all time. The Oracle of Omaha himself, the legendary Warren Buffett, here to share his timeless principles of value investing and how patience and wisdom are the real keys to success.

And joining us is his trusted partner, a brilliant thinker and a man who always keeps it real—Charlie Munger. He’s here to teach us why critical thinking and understanding the human mind are just as important in investing as knowing the numbers.

Of course, we have the father of value investing, Benjamin Graham, whose philosophy has shaped the way investors approach the market for decades with his concept of intelligent investing and the margin of safety.

From real estate, we’re honored to welcome Grant Cardone, the real estate mogul and entrepreneur who’s built an empire by understanding cash flow and leveraging other people’s money.

Next, we have the powerhouse behind one of the most successful real estate companies in the world, Gary Keller, who’s here to explain how you can build wealth through real estate step by step.

Also with us is the man who’s helped millions of people automate their path to financial freedom, David Bach, author of The Automatic Millionaire—he’ll show us how consistency and automation can transform your financial life.

And if that’s not enough, we’ve got Ray Dalio, the master of economic cycles and founder of Bridgewater Associates. He’s here to show us how understanding the big picture and diversifying investments can help you navigate any market condition.

Sitting with him is the champion of the everyday investor, John C. Bogle, the founder of Vanguard who made index funds a household name, here to share how keeping it simple and low-cost can lead to long-term wealth.

And last but certainly not least, we have the legendary Peter Lynch, the man behind the incredible success of Fidelity Magellan Fund, here to teach us how to pick the right companies and why patience is key when investing in the stock market.

This is going to be a powerful, life-changing imaginary conversation about wealth, strategy, and success. Get ready, because these visionaries are about to change the way you think about money forever!

Financial Literacy and Knowledge Building

Robert Kiyosaki:
"One thing I’ve noticed in all my years of teaching is how little people understand about money, and it always comes back to education. I firmly believe that financial literacy is the cornerstone of building wealth. What do you think, Warren? Your approach to value investing must have required a deep understanding of how money works."

Warren Buffett:
"Absolutely, Robert. Knowledge is the foundation. As I always say, the best investment you can make is in yourself. Whether you’re studying the markets, companies, or simply the principles of investing, the more you know, the better your decisions will be. But it’s not just about understanding money—it's about understanding businesses. Investing is like learning the rules of a game; if you don't know the rules, you'll never win."

Charlie Munger:
"That’s right, Warren. I think the problem many people face is they’re too short-sighted. They don’t build a strong base of knowledge and instead chase the next big thing. But what people really need to do is engage in ‘worldly wisdom.’ It's about combining knowledge from different disciplines—economics, psychology, history—to make informed decisions. Financial literacy isn't just knowing how to add up numbers. It's about understanding the big picture."

Robert Kiyosaki:
"That’s exactly what I teach. People need to know that investing is more than just picking stocks or buying properties. It’s about understanding the full ecosystem of money—how taxes, debt, and leverage work. The education system, unfortunately, doesn’t prepare people for this. It tells them to get a job, save money, and avoid risk, which is counterproductive."

Benjamin Graham:
"Indeed, Robert. I agree that a lack of financial education is detrimental. My focus has always been on intelligent investing. An investor needs both a sound intellectual framework and the ability to keep emotions in check. The first part comes from knowledge—understanding the difference between price and value, for example. But the second part, emotional control, also stems from the discipline you develop through education."

Warren Buffett:
"Exactly, Ben. The markets are full of noise, and without proper knowledge, people get swept up in trends. We’ve seen it time and again. Educating yourself about how businesses operate, how markets behave, and how to assess risk is essential. Knowledge gives you confidence and patience—qualities that are critical in investing."

Charlie Munger:
"Investors also need to think critically. Financial education isn’t just reading books or taking courses. It’s about developing the ability to ask the right questions and thinking through problems logically. A lot of people are passive learners—they absorb information but don’t challenge it. Active learning, in my view, is key."

Robert Kiyosaki:
"Exactly, Charlie. And it goes beyond just intellectual understanding. People need to take that knowledge and apply it practically. One of the things I always tell people is to start small, make mistakes, learn from them. Too many people are afraid of failure, but failure is part of the education process."

Benjamin Graham:
"Yes, making small, calculated mistakes early on can teach you valuable lessons. That’s how I’ve always viewed ‘margin of safety’—it’s a cushion to protect yourself from the unknown. But the more educated you are, the bigger your margin becomes, because your decisions are based on sound knowledge, not speculation."

Warren Buffett:
"And once you build that foundation of knowledge, it becomes easier to see opportunities that others miss. A good education lets you focus on the fundamentals, and when you focus on fundamentals, you avoid the traps of chasing quick returns or speculative bubbles."

Investing vs. Working for Money

Robert Kiyosaki:
"Gentlemen, something that’s been central to my teachings is the idea that the rich don’t work for money; they make money work for them. The difference between earning a paycheck and building wealth lies in understanding the power of investing versus just trading time for money. Elon, you’ve built companies that are transforming industries. How did you shift from working for money to creating wealth?"

Elon Musk:
"For me, it’s always been about solving big problems. When you’re working for someone else, you’re limited by their vision, their goals. But when you create something of your own—whether it's PayPal, Tesla, or SpaceX—you're not just earning a paycheck. You're building systems that can scale, and that’s where the real wealth creation happens. The transition was never about money, but about impact, and as the impact grew, so did the wealth."

Mark Cuban:
"I agree with Elon. I started out hustling—selling garbage bags door to door as a kid. When I got into tech, I realized that working for someone else would only get me so far. So I took risks, I invested, I built businesses. The key moment was when I sold Broadcast.com to Yahoo. I didn’t just take the money and run—I invested it wisely. That's when I really learned that building and investing in companies creates wealth far beyond what a salary could offer."

Robert Kiyosaki:
"That’s exactly it, Mark. Most people are trapped in the mindset of earning money instead of building wealth. They think security comes from a steady paycheck, but in reality, it comes from owning assets—whether it's businesses, real estate, or stocks. Richard, you’ve built the Virgin brand into a global empire. How did you avoid getting stuck in the ‘work-for-money’ trap?"

Richard Branson:
"Well, Robert, I’ve never been one for doing things the conventional way. I dropped out of school, started Virgin Records, and never really thought of myself as 'working for money.' My drive was always about creating something that mattered, something that could grow. Virgin wasn’t just about music—it became about travel, health, space, and more. Each new venture was a chance to build, expand, and invest in the future. The money followed, but it was never the goal."

Robert Kiyosaki:
"That’s a pattern I see with all of us here—our focus is always on creating value. The money comes afterward. But most people are afraid to take that leap. They stay in jobs because it's ‘safe.’ They believe that working hard will lead to wealth, but in reality, it rarely does. Investing in assets that generate income, even when you’re not working, is what truly builds wealth."

Elon Musk:
"I think what scares people is the idea of risk. Starting a company, investing in something—it’s not guaranteed. But neither is a job, especially in today’s world. I took risks with Tesla and SpaceX that most people thought were insane, but I wasn’t afraid to fail. When you shift your mindset from just earning money to building something that can grow, you take control of your financial future."

Mark Cuban:
"Exactly, Elon. People talk about financial security as if a job can provide that. But jobs come and go. If you’re just working for money, someone else controls your time and your financial destiny. When you invest, you take that control back. I always tell people: ‘Follow your passion, but be smart about it.’ You have to understand the difference between working for someone else and building something for yourself. That’s when you start making money work for you."

Richard Branson:
"And you don’t have to be in tech or finance to do it. Virgin started in music, then expanded into airlines, fitness, and even space. It’s about seeing opportunities everywhere. When I see a gap in an industry, I think, ‘How can we fill this with something innovative?’ That’s investing—it’s putting your energy into something that can grow on its own, instead of just clocking in and out of a job."

Robert Kiyosaki:
"And that’s why financial literacy is so important. Most people never make that shift because they don’t know how. They don’t understand how to evaluate opportunities, or they’re afraid of debt. But when used wisely, debt can be a powerful tool in building wealth. People need to be educated on how to move from working for money to building systems that generate wealth without constant effort."

Elon Musk:
"True, and the systems don’t even have to be complex. They just need to be scalable. Whether it's investing in the stock market, starting a small business, or creating passive income through real estate, the key is to have something that grows, even when you’re not there pushing it forward every day."

Mark Cuban:
"Right. I always say, once you stop working for money and start thinking about building, you’ll find that opportunities open up. But it all starts with the mindset shift, from paycheck-to-paycheck to investing for the long haul."

Asset Building and Passive Income

Robert Kiyosaki:
"One of the biggest lessons I teach is that true wealth isn’t built by working harder, but by acquiring assets that generate passive income. It’s about having money work for you, even when you’re not working. Grant, you’ve made a fortune in real estate, a perfect example of this. How do you see the role of assets in building long-term wealth?"

Grant Cardone:
"Robert, I couldn’t agree more. The biggest mistake people make is thinking that working more hours or getting a better job is the way to wealth. But the truth is, you need to own assets—things like real estate—that pay you every month. For me, real estate is the ultimate asset because people always need a place to live. Once you own properties that generate cash flow, you’ve created a system where the money keeps coming in without you having to trade your time for it."

Gary Keller:
"Exactly, Grant. That’s why I’ve always pushed real estate as a wealth-building tool. When you own property, you're not just holding an asset that appreciates in value, you're creating multiple streams of income. Whether it's rental income, tax benefits, or capital appreciation, real estate works on so many levels. It’s a passive income generator if you know how to manage it properly."

David Bach:
"Real estate is a great example, but I think it’s important for people to understand that passive income can come from multiple types of assets. Whether it’s stocks, bonds, businesses, or real estate, the key is to focus on acquiring income-generating assets. That’s why I wrote The Automatic Millionaire—to show people that with the right systems in place, you can build wealth automatically through assets that generate money while you sleep."

Robert Kiyosaki:
"Absolutely, David. Passive income is the secret to financial freedom. Most people get caught up in the idea that they need to work harder or save more, but saving money doesn’t make you rich—investing in assets does. I often say that the rich buy assets while the poor and middle class buy liabilities, thinking they’re assets. Grant, when did you realize that passive income through assets was the key to financial independence?"

Grant Cardone:
"It hit me when I looked at the wealthiest people I knew and realized none of them were working for a paycheck. They all had businesses, real estate, or investments that were paying them every month. So, I shifted my focus to acquiring as many cash-flowing properties as I could. I started small, but I kept reinvesting the income I made into more assets. Now I don’t have to worry about money because my properties bring in passive income no matter what’s happening in the world."

Gary Keller:
"That’s exactly what I tell people in real estate. You don’t need to start big, but you do need to start. The earlier you invest in income-producing properties, the more time you give them to appreciate and generate income. Over time, the cash flow from these properties grows, and eventually, you can live off that passive income. It’s not just about working harder, it’s about working smarter and letting your assets do the heavy lifting."

David Bach:
"And it’s not just real estate. People should think about passive income in other areas too. Dividend-paying stocks, bonds, and automated investment plans can all contribute to building wealth. The key is consistency. Automate your investments so that you're consistently adding to your portfolio of income-generating assets. The beauty of it is, once you’ve set up the right systems, the income becomes truly passive."

Robert Kiyosaki:
"You’re all making great points. The bottom line is, if you want to be financially free, you need to focus on acquiring assets that pay you, not just things that take money out of your pocket. Too many people think their house is an asset, but if it’s not generating income, it’s a liability. Grant, you’ve talked a lot about leverage and using other people’s money to acquire assets. How do you balance leverage with risk?"

Grant Cardone:
"Leverage is one of the greatest tools in wealth-building, but you have to know how to use it. I’m always looking for opportunities to use other people’s money—whether it’s banks, investors, or partners—to buy income-producing assets. The key is making sure the asset itself can cover the cost of the debt. As long as the cash flow from the property or business pays off the loan and then some, you’re in a good position. It’s about managing the risk while still taking advantage of leverage."

Gary Keller:
"That’s true, but I’d add that leverage only works if you’re smart about the assets you acquire. Too many people over-leverage, thinking that more debt equals more wealth. But if the underlying asset isn’t strong or doesn't generate cash flow, you’re just digging yourself into a hole. That’s why financial literacy is so important—understanding how to evaluate properties or businesses before you jump in."

David Bach:
"And that’s where having a diversified portfolio comes in. You don’t want to rely on just one type of asset. Real estate, stocks, bonds, and businesses all have their place in a well-rounded portfolio. The more streams of passive income you can build, the less reliant you are on any one source. That’s how you create financial security."

Robert Kiyosaki:
"Exactly. Building wealth through assets that generate passive income is the path to financial freedom. Whether it’s real estate, stocks, or businesses, the focus should always be on acquiring assets that pay you, not the other way around."

Tax Strategies and Risk Management

Robert Kiyosaki:
"One thing people often overlook when they think about building wealth is the impact of taxes. It’s not about how much you make—it’s about how much you keep. That’s where smart tax strategies come in. Tom, you’ve been my go-to tax advisor for years. How important is it for investors to understand and utilize the tax code to their advantage?"

Tom Wheelwright:
"Robert, it’s absolutely crucial. The tax code is essentially a series of incentives—there are so many opportunities to legally reduce your taxes, but most people don’t know how to take advantage of them. For example, in real estate, there are numerous deductions, depreciation benefits, and credits that can significantly lower your taxable income. If you don’t educate yourself on these strategies, you’re leaving money on the table."

Donald Trump:
"Tom’s right. I’ve used the tax code to my advantage for decades, especially in real estate. People don’t realize how powerful depreciation is. When you own real estate, you can write off the depreciation, even though your property is likely appreciating in value. That’s one of the ways you can lower your taxes while your net worth continues to grow. It’s not about avoiding taxes—it’s about using the laws that are there to encourage investment."

Robert G. Allen:
"And it’s not just real estate. There are ways to use the tax system in various areas of investing. The goal is to minimize taxes legally while maximizing returns. In my book Nothing Down, I talked about how you can get into real estate with little to no money down, but the real win comes when you combine that with tax strategies to keep more of your profits. Tax efficiency should be a key part of any wealth-building strategy."

Robert Kiyosaki:
"Exactly, and this is where financial literacy really comes into play. People think taxes are something to be afraid of, but once you understand the tax code, you can actually use it to your benefit. I always say the rich don’t pay taxes the same way the poor and middle class do. It’s about owning assets that give you tax advantages. But it’s not just about taxes—understanding and managing risk is just as important. Donald, you’ve taken big risks in business and real estate. How do you balance risk with reward?"

Donald Trump:
"Risk is a part of business, but the key is managing it wisely. You don’t avoid risk—you assess it, minimize it, and take calculated risks. In real estate, for example, I always look at the downside. If I can live with the worst-case scenario, then I move forward. It’s about being prepared for the unexpected while still going after the upside. That’s where understanding the market, leveraging other people’s money, and having a strong team come into play."

Tom Wheelwright:
"And taxes actually help with risk management. By using the tax code to your advantage, you can reduce your financial risk. For instance, if you're getting tax deductions or credits on your investments, you're effectively lowering your cost of investment. That way, even if your return isn’t as high as you’d hoped, the tax benefits can help cushion the impact. It’s all about strategically lowering risk through tax planning."

Robert G. Allen:
"That’s true. The wealthy don’t take reckless risks; they take calculated risks and use every tool available to them, including the tax system, to manage those risks. I’ve seen so many people shy away from investing because they think it’s too risky, but when you understand the tax benefits and how to structure deals, the risk can actually be far less than they imagine."

Robert Kiyosaki:
"And that’s why financial education is so important. Whether you’re looking at real estate, stocks, or business, understanding how to minimize taxes and manage risk is essential to long-term wealth building. It’s about working smarter, not harder. People who don’t take the time to learn these strategies often pay more in taxes and take on more risk than they need to."

Tom Wheelwright:
"Exactly. And the great thing is, these strategies are available to everyone, but it’s up to you to learn and apply them. The tax code is written to incentivize investors and business owners, and once you know how to use it, you can drastically reduce your taxes while protecting your wealth."

Long-term Strategy and Patience

Robert Kiyosaki:
"One thing I’ve learned over the years is that building wealth isn’t a sprint—it’s a marathon. It takes a lot of patience, a long-term strategy, and the ability to stick to your plan even when the market gets rocky. Ray, your principles have guided Bridgewater through many economic cycles. How important do you think patience and long-term thinking are in the world of investing?"

Ray Dalio:
"Patience is everything, Robert. In investing, you have to understand that markets move in cycles. If you're not thinking long-term, you’ll get caught up in the short-term noise. I always say, if you don’t have a good handle on where we are in the economic cycle, you’re setting yourself up for failure. A long-term strategy allows you to navigate through both the good times and the bad. You need the patience to ride out the storms and the discipline to stick to your principles."

John C. Bogle:
"Absolutely, Ray. I’ve always believed in keeping it simple: focus on the long term, minimize costs, and stay the course. Too many people try to time the market, jumping in and out, thinking they can outsmart it. But over time, it's the patient, disciplined investor who wins. My philosophy with index funds was built on that idea—low costs and long-term growth through broad diversification. You don’t need to be a genius to invest wisely, but you do need to be patient."

Peter Lynch:
"I agree with both of you. One thing I always told people is, ‘The market’s going to go up and down, but the worst mistake you can make is to panic and sell in a downturn.’ If you’re thinking long-term, you know that companies with strong fundamentals will recover. That’s why patience is crucial—those who sell during downturns often lock in losses, while those who stay invested usually come out ahead."

Robert Kiyosaki:
"That’s exactly why I stress patience with my students. Everyone wants to get rich quick, but they don’t realize that real wealth is built over decades, not months. Too many people get scared when the market dips, or they get greedy when it’s on the rise. A long-term strategy keeps you grounded, keeps you from making emotional decisions. Ray, how do you manage those emotions when things are uncertain?"

Ray Dalio:
"You need a clear set of principles to guide you. That’s what I’ve always advocated. When you have a strong set of principles and understand how different assets behave in different environments, you’re less likely to be swayed by emotions. It’s also about diversification. If you're well-diversified, you’ve already reduced your risks, so you’re not as affected by short-term fluctuations. That’s the essence of a long-term strategy—understanding how to balance risk and reward over time."

John C. Bogle:
"And part of that strategy is understanding costs. Over the long term, high fees can eat away at your returns. That’s why I’ve always pushed for low-cost index funds. Keeping costs low and investing in the broad market ensures that you’re in it for the long haul, and you’re not getting nickeled and dimed along the way. The magic of compounding works best when you're not losing a percentage of your gains every year to fees."

Peter Lynch:
"True. A lot of people get caught up in short-term gains or high-risk strategies because they think they can get rich quickly. But what they’re really doing is gambling. The key is finding great companies and holding onto them, letting them grow over time. That’s where the big gains come from. You don’t need to be right all the time—just patient enough to hold onto the winners and let compounding do its work."

Robert Kiyosaki:
"Exactly. That’s something I emphasize in real estate as well. It’s not just about flipping properties or chasing the next hot market. It’s about holding onto assets that generate steady income over the long term. Patience allows you to take advantage of the market cycles and build wealth slowly, but surely."

Ray Dalio:
"And that’s the point, Robert. Wealth creation is about stability and sustainability. If you’re constantly chasing quick gains, you’re not building something that lasts. Long-term investing requires understanding that some years will be down, some will be up, but over decades, if you’ve made smart decisions and diversified well, you’ll come out ahead."

John C. Bogle:
"That’s right. We’ve seen so many market crashes and recoveries, but the fundamentals remain the same. The stock market has always gone up in the long run, despite the crashes. Patience is what allows you to ride through the tough times and come out stronger. When you stick to a long-term strategy, you’re not swayed by the panic that sets in when markets decline."

Peter Lynch:
"I think the key is realizing that you don’t need to constantly chase new investments. Find the companies or assets you believe in and let them grow. People think they need to be constantly active in the market, but sometimes the best thing you can do is nothing. Just sit on a great investment and let time do the heavy lifting."

Robert Kiyosaki:
"Exactly. Patience and a solid long-term strategy are what separate the successful investors from those who never get ahead. It’s about seeing the big picture, knowing that wealth is built over time, and staying the course even when things get tough."

Short Bios:

Robert Kiyosaki is an entrepreneur, investor, and author of the Rich Dad series, including the best-selling Rich Dad Poor Dad. His teachings focus on financial education, passive income, and building wealth through investing in assets, real estate, and entrepreneurship.

Warren Buffett, often called the "Oracle of Omaha," is one of the most successful investors in history. As the chairman of Berkshire Hathaway, he is known for his value investing philosophy, long-term thinking, and patience in building wealth through sound investment strategies.

Charlie Munger is Warren Buffett’s long-time business partner and vice chairman of Berkshire Hathaway. Known for his sharp wit and deep insights, Munger advocates for critical thinking, lifelong learning, and understanding human behavior in decision-making.

Benjamin Graham is the father of value investing and the author of The Intelligent Investor. His principles, including the "margin of safety," have influenced generations of investors, including Warren Buffett, emphasizing fundamental analysis and cautious investing.

Grant Cardone is a real estate mogul, entrepreneur, and motivational speaker who built his empire through smart real estate investments and business ventures. He is the author of The 10X Rule and promotes the power of leverage and cash flow to build wealth.

Gary Keller is the co-founder of Keller Williams Realty and author of The Millionaire Real Estate Investor. He has helped countless people build wealth through real estate by teaching them how to invest smartly and manage properties effectively.

David Bach is a financial expert and best-selling author of The Automatic Millionaire. He advocates for automating savings and investments to achieve financial independence, making wealth-building accessible and systematic for the everyday person.

Ray Dalio is the founder of Bridgewater Associates, one of the largest hedge funds in the world. Known for his macroeconomic insights and understanding of market cycles, Dalio’s Principles has become a guide for investors and business leaders alike.

John C. Bogle was the founder of Vanguard Group and pioneered the idea of low-cost index fund investing. His belief in long-term, passive investing strategies has made index funds a popular choice for individuals seeking steady, cost-efficient growth.

Peter Lynch is the former manager of the Fidelity Magellan Fund, where he achieved extraordinary returns. He is known for his investment philosophy of "investing in what you know" and for promoting patience in holding high-quality stocks for the long term.