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(CNN) -- From 401(k) accounts to playing the stock market, there are many strategies to saving money for retirement. They all, however, rely on one fundamental condition: to save money, you first have to make it.
Entrepreneur and entertainer Donald Trump and Robert Kiyosaki, author of "Rich Dad, Poor Dad," recently talked to CNN's Larry King about their book, "Why We Want You to be Rich," and what it takes to become wealthy.
KING: Why do you want to make other people rich, Donald?
TRUMP: I want to make other people happy, and I know the secrets to making money. I don't know the secrets to a lot of other things. But I know how to make money.
Robert wrote a book that was a tremendous success, [sold] like 30-some-odd million copies of "Rich Dad, Poor Dad," and I wrote a book called "The Art of the Deal," which was the biggest selling business book of all time, and since then I've written a lot of other books, and they've all gone into being best-sellers, and we just wanted to join forces.
KING: Why do you want to make other people rich? What do you care?
KIYOSAKI: Well, that was our concern, because we have no financial education in schools ... and there's this gap between the rich and everybody else [that] is so excessive now. ... The rich are getting richer, but America is getting poorer, and that's why we joined forces as teachers, because after his name is a few more zeroes than after my name.
KING: Can you really, Donald, take a lesson from yourself and give it to someone else?
TRUMP: Absolutely. Not everybody, but you can to a certain extent, and as I said before, Larry, not everybody has it. If they don't have it, they're not going to become millionaires or billionaires or whatever you want to become.
KING: Robert, do we have an entitlement mentality. People think it's coming to them.
KIYOSAKI: I think we have a dangerous mentality, which is entitlement. They expect the government to take care of them, Social Security and Medicare. We have about 75 million baby boomers set to retire, and the federal government is technically bankrupt right now and that is what we're concerned about. There are so many people wanting someone to take care of them, whether it's Ford or General Motors or the U.S. government. ...
KING: Both of you are in debt, right? You owe money.
KING: You owe money. Why is that smart?
KIYOSAKI: Well, there's good debt and there's bad debt and unfortunately, the average person only has bad debt. And that's part of what we're talking about -- with a little financial education you can manage debt. ...
We both had rich dads or dads who taught us this, and our whole point is that we learn about money at home, not at school, and we have some politicians who need to learn about money also.
KING: Give me some tips. Donald, what's a good tip?
TRUMP: Well, always go in to something that you know something about. So many people, they want to go into a field that they don't know, but I actually think the most important tip is go into something that you love because you'll learn it much quicker. You're going to learn about whatever you're doing much quicker, more quickly than if you just don't like the subject matter.
KIYOSAKI: I agree wholeheartedly, but I recommend to the little guy: Start small. Start small and then spend life learning. I think that's what we encourage. My projects are not nearly as big as [Trump's] projects in real estate, but I also love real estate and my bankers love real estate. I always say my banker won't lend me money for mutual funds, but they will lend us money for real estate.
KING: How do you balance between saving and investing?
TRUMP: You don't build billions of dollars of net worth unless you're going to go out and borrow money. Now you have to use leverage to your advantage and not to your disadvantage.
KING: You have to pay it back.
TRUMP: You pay it back, and hopefully you know what you're doing and you're able to pay it back, and it's just worked out that way for me, but you have to know what you're doing. Again, you don't want to borrow so much that it doesn't work, and if you do borrow too much, you have to know how to negotiate with lots of people, including your bankers.
KING: Would you say buy and not rent?
KIYOSAKI: Your house, absolutely. But we agree, what we do is not for everybody. What we do requires more financial training. I think our message is that our schools really do need to teach people about good debt, bad debt, good investments and bad investments.
KING: We don't learn about that in school at all. They teach you economics, but it's boring.
TRUMP: They teach you economics, and it has nothing to do with the real world, and that's part of the problem.
KING: It's a class you fall asleep in. ...
Money management [is the] hardest thing of all, isn't it?
TRUMP: Well, it is, especially if you're not trained. I have a lot of friends who are athletes, and they think their life is going to go on, and they're going to be on the gridiron or they're going to be on the baseball field all the time.
I have had some people that I've really, really helped; they were going to go into horrible deals, and they would have lost everything -- they just aren't experienced, and you do need experience, and one of the reasons I do love to teach, I'm a huge believer in education and one of the reasons we wrote this book is to help people out.
KING: Would you change the school formula?
KIYOSAKI: I personally would because unlike Donald I wasn't a great student, and it took me until I was 30 years old to realize I didn't know all the answers and then I became a student. ... We do need to teach people about money because there are fewer and fewer jobs that provide any long-term security.
KING: I don't remember learning anything about money in high school. There's no course called money.
TRUMP: Well, you don't learn in high school, and that's a shame and they should be teaching people how to live and how to earn money, make money, and perhaps most importantly, to preserve their money so that it doesn't get wiped out.
I mean, people make money, and then all of the sudden they don't have anything. You see it even with so-called rich people. They make a lot of money, and two years later they have nothing.
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