RICH DAD, POOR DAD
What The Rich Teach Their Kids About Money and The Poor And Middle Class Do Not!
– A book about Financial literacy and how to achieve Financial Freedom.
When Robert was growing up he had two dads. One was a highly educated teacher with a PHD (Poor Dad), the other never finished the Eighth Grade (Rich Dad).
Both fathers had conflicting views on money. One Dad would say “I can’t afford it” while the other would ask: “How can I afford it?”
THE RICH DON’T WORK FOR MONEY
When Robert was 9yr old his best friend, Mike, and him were tired of other kids not wanting to play with them because they were ‘poor kids’. When they asked Mike’s dad (Rich Dad) how to make money he agreed to teach them. This is what they learned…
Rich Dad put us to work dusting cans in one of the corner stores he owned. The pay (10 cents a week) wasn’t much. After 3 weeks dusting and not learning anything I decided to quit. I saw Rich Dad and demanded a pay increase. I told him that he wasn’t keeping up to the bargain and teaching us about money. He disagreed. In 3 weeks I was already sounding like his employees, he said. Life pushes you around, he said. ‘Some people just give up and quit every time life pushes them. Others take the opportunity to learn’.
“Most people are afraid of not having any money. That’s why they take a low paying job. Some people say I exploit my employees but they really exploit themselves.” He convinced me I had a good opportunity to learn, so I agreed to keep working. “Good,” he said, “But this time you’ll work for nothing…”
I worked for 3 weeks with no pay when Rich Dad came by. He told us how most people let their emotions do their financial thinking rather than their brains. When it comes to money most people are driven by the emotions of fear (not having enough money) and desire (to have nice things). You must always acknowledge your emotions, but don’t let them do your thinking. He offered us a huge raise, which we declined. He could see we had overcome our desire by not accepting the larger pay, and we had also overcome our fear by working for nothing. This was good. We now needed to use our eyes to look for opportunities.
A couple of weeks later I noticed the lady who managed the store cutting the cover off some comic strips and throwing away the comics. Mike and I set up a comic library for the local kids in a room at Mike’s house. We charged kids 10 cents to enter the library and paid Mikes sister $1 a week to mind it. After a while we were earning $9.50 a week…