Rich Dad Poor Dad – Robert T Kiyosaki: I had two fathers, a rich one and a poor one. One was highly educated and intelligent. He had a Ph.D. and completed four years of undergraduate work in less than two years. He then went on to Stanford University, the University of Chicago, and Northwestern University to do his advanced studies, all on full financial scholarships.
Rich Dad Poor Dad – Robert T Kiyosaki
The other father never finished the eighth grade. Both men were successful in their careers, working hard all their lives. Both earned substantial incomes. Yet one always struggled financially. The other would become one of the richest men in Hawaii. One died, leaving tens of millions of dollars to his family, charities, and his church. The other bills are left to be paid.
Both men offered me advice, but they did not advise the same things. Both men believed strongly in education, but did not recommend the same course of study. If I had had only one dad, I would have had to accept or reject his advice. Having two dads offered me the choice of contrasting points of view: one of a rich man and one of a poor man.
Instead of simply accepting or rejecting one or the other, I found myself thinking more, comparing, and then choosing for myself. The problem was that the rich man was not rich yet, and the poor man Introduction 2 was not yet poor. Both were just starting their careers, and both were struggling with money and families. But they had very different points of view on money.
Rich Dad Poor Dad – Robert T Kiyosaki
For example, one dad would say, “The love of money is the root of all evil.” The other said, “The lack of money is the root of all evil.” As a young boy, having two strong fathers both influencing me was difficult. I wanted to be a good son and listen, but the two fathers did not say the same things. The contrast in their points of view, particularly about money, was so extreme that I grew curious and intrigued.
I began to start thinking for long periods of time about what each was saying. Much of my private time was spent reflecting, asking myself questions such as, “Why does he say that?” and then asking the same question of the other dad’s statement. It would have been much easier to simply say, “Yeah, he’s right. I agree with that.”
Or to simply reject the point of view by saying, “The old man doesn’t know what he’s talking about.” Instead, having two dads whom I loved forced me to think and ultimately choose a way of thinking for myself. As a process, choosing for myself turned out to be much more valuable in the long run than simply accepting or rejecting a single point of view.
Rich Dad Poor Dad – Robert T Kiyosaki
One of the reasons the rich get richer, the poor get poorer, and the middle class struggles with debt is that the subject of money is taught at home, not in school. Most of us learn about money from our parents. So what can poor parents tell their child about money? They simply say, “Stay in school and study hard.” The child may graduate with excellent grades, but with a poor person’s financial programming and mindset.
Sadly, money is not taught in schools. Schools focus on scholastic and professional skills, but not on financial skills. This explains how smart bankers, doctors, and accountants who earned excellent grades may struggle financially all of their lives. Our staggering national debt is due in large part to highly educated politicians and government officials making financial decisions with little or no training in the subject of money.
Rich Dad Poor Dad 3 Today I often wonder what will soon happen when we have millions of people who need financial and medical assistance. They will be dependent upon their families or the government for financial support. What will happen when Medicare and Social Security run out of money? How will a nation survive if teaching children about money continues to be left to parents—most of whom will be, or already are, poor?
Rich Dad Poor Dad – Robert T Kiyosaki
Because I had two influential fathers, I learned from both of them. I had to think about each dad’s advice, and in doing so, I gained valuable insight into the power and effect of one’s thoughts on one’s life. For example, one dad had a habit of saying, “I can’t afford it.” The other dad forbade those words from being used. He insisted I ask, “How can I afford it?”
One is a statement, and the other is a question. One lets you off the hook, and the other forces you to think. My soon-to-be-rich dad would explain that by automatically saying the words “I can’t afford it,” your brain stops working. By asking the question “How can I afford it?” your brain is put to work. He did not mean that you should buy everything you want. He was fanatical about exercising your mind, the most powerful computer in the world.
He’d say, “My brain gets stronger every day because I exercise it. The stronger it gets, the more money I can make.” He believed that automatically saying “I can’t afford it” was a sign of mental laziness. Although both dads worked hard, I noticed that one dad had a habit of putting his brain to sleep when it came to finances, and the other had a habit of exercising his brain.
Rich Dad Poor Dad – Robert T Kiyosaki
The long-term result was that one dad grew stronger financially, and the other grew weaker. It is not much different from a person who goes to the gym to exercise on a regular basis versus someone who sits on the couch watching television. Proper physical exercise increases your chances for health, and proper mental exercise increases your chances for wealth.
My two dads had opposing attitudes, and that affected the way they thought. One dad thought that the rich should pay more in taxes to take care of those less fortunate. The other said, “Taxes punish those who produce and reward those who don’t produce.” Introduction 4 One dad recommended, “Study hard so you can find a good company to work for.”
The other recommended, “Study hard so you can find a good company to buy.” One dad said, “The reason I’m not rich is that I have you kids.” The other said, “The reason I must be rich is that I have you kids.” One encouraged talking about money and business at the dinner table, while the other forbade the subject of money from being discussed over a meal.
Rich Dad Poor Dad – Robert T Kiyosaki
One said, “When it comes to money, play it safe. Don’t take risks.” The other said, “Learn to manage risk.” One believed, “Our home is our largest investment and our greatest asset.” The other believed, “My house is a liability, and if your house is your largest investment, you’re in trouble.” Both dads paid their bills on time, yet one paid his bills first while the other paid his bills last.
One dad believed in a company or the government taking care of you and your needs. He was always concerned about pay raises, retirement plans, medical benefits, sick leave, vacation days, and other perks. He was impressed with two of his uncles who joined the military and earned a retirement-and-entitlement package for life after twenty years of active service. And he loved the idea of medical benefits and PX privileges that the military provided its retirees.
He also loved the tenure system available through the university. The idea of job protection for life and job benefits seemed more important, at times, than the job. He would often say, “I’ve worked hard for the government, and I’m entitled to these benefits.” The other believed in total financial self-reliance. He spoke out against the entitlement mentality and how it created weak and financially needy people. He was emphatic about being financially competent.