Warren Buffett wrote a letter for Thanksgiving.

He’s 95 years old. He’s a legend. One of the greatest investors in history.

He’s also my friend.

I respect Warren. But I do not agree with him.

His letter talks about luck.

He says he was lucky to be born in America. Lucky to have good doctors. Lucky to have a long life.

My Poor Dad believed in luck. He waited for his lucky break. It never came.

My Rich Dad taught me that luck is a loser’s word.

Luck is what people who have no plan call the success of people who do.

Was it luck that I chose to learn about money? No. It was a choice.

Was it luck that I learned to use debt to buy assets? No. It was education.

Was it luck that I built businesses and invested in real estate while my friends were climbing the corporate ladder? No. It was a different playbook.

Warren talks about being born in the right place. I agree. America is a land of opportunity.

But it’s not a lottery ticket.

Opportunity is useless without the financial education to see it and seize it.

Warren is a great man. But his message of luck is dangerous. It teaches you to be passive. To hope for the best. To be grateful for what you are given.

I am not grateful for what I am given.

I am grateful for what I have learned. And for what I have built.

Rich Dad taught me to make my own luck.

That is the first rule in the private playbook.

In my next email, I will tell you about the biggest mistake Warren is making. It’s a mistake that will cost his family their financial empire.

And it’s a mistake you must avoid at all costs avoid.

Robert Kiyosaki
Editor, Private Playbook