Poor Dad

Rich Dad

“I can’t afford it” --> self limiting, dead-end statement

“How can I afford it?” --> open ended, forces-you-to-think question

“Study hard so you can find a good company to work for.”

“Study hard so you can find a good company to buy.”

“Play it safe, don’t take risks.”

“Learn how to manage risk.”

“Entitlement” mentality: what work/gov owes you

Total financial self-reliance: autonomy & competence

Grievances: getting what you feel like you deserve/earned, or you’ll quit your job

“I don’t work for money, money works for me.”

If you’re the type of person who gives up everytime life pushes you around – you'll live it safe, wait for a big break, die boring and old with lots of friends b/c you were a nice hard-working guy/girl, but deep down you were terrified of taking risks.  Really wanted to win but the fear of losing > excitement of winning.  So you didn’t go for it.

Life teaches you by pushing you around – each push is saying “Wake up, there’s something I want you to learn.”  Don’t just get angry and push against your boss, job, low pay, that’s just life pushing you.  “You’d best change your point of view and stop blaming me, thinking I’m the problem.  If you think I’m the problem then you have to change me.  If you realize that you’re the problem, then you can change yourself, learn something, and grow wiser.”

Blaming others gives you limited choices.  “If you don’t pay me more or show me more respect, then I’ll quit.”  Most people quit, look for a new job, more pay, but it doesn’t solve the problem.

What solves the problem is using your head.  The poor and middle class work for money, the rich have money work for them.

Fear directs most people rather than passion.  Fear keeps most people working at a job they don’t like.  There’s fear of paying bills, fear of being fired, fear of not having enough money, fear of starting over.  You become a slave to money because of all your fears.  Most people work hard for little money, cling to illusions of job security, vacation, and a skimpy pension.

Learn how money works so you can make it work for you.  True learning takes energy, passion, and a burning desire.  Work to learn, don’t work for money.

Each human being has a week & needy part of their soul that can be bought.  There’s another part that’s strong and filled with resolve that can never be bought.  This part has no price. 

Fear and desire/greed lead most people to live life chasing after paychecks, pay raises, and job security, but they don’t know where this is leading them.

Tell the truth about how you’re feeling.  Then use your head to think, not just to emotionally react.   

“Stay in school, get good grades, so you can find a safe, secure job.”

For many, school is the end, not the beginning.  Schools focus only on teaching people to work for money, but they don't teach financial literacy.

Life is a moment-by-moment struggle:

-Closing your mind and reacting to situations

-Spend life living in fear and not exploring dreams

-Work hard for money thinking money will buy you things that will make you happy

-Living a life dictated by the size of your paycheck is not really a life

-Job won’t make you feel secure

Life is a moment-by-moment struggle:

-Learning to open your mind and think about opportunities

-Learning how to take calculated risks, think outside the box

-Don’t let money run your life

-The sooner you forget about needing a paycheck, the easier your adult life will be

-Most people don’t see opportunities because they're looking for money and security

-Let go of the idea of working for money, and instead learn to have money work for you --> FREEDOM from the Rat Race