| I
had two dads - a rich one and a poor one...
an excerpt from the site of Robert
Kiyosaki
One dad was highly educated and intelligent;
he had a Ph.D. and had completed four years of under-graduate
work in less than two years. He then went to Stanford
University, the University of Chicago, and Northwestern
University to do his advanced studies. All on full,
financial scholarships.
My other dad never finished the eighth
grade.
Both men were successful in their careers,
working hard all their lives. Both earned substantial
incomes. Yet one dad struggled financially all his
life and the other dad 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 left a legacy of unpaid bills. Both men
were strong, charismatic, and influential. Both men
offered me advice, but they did not advise the same
things.
One of my dads is a multi-millionaire.
The other is a poor man. Why? Very simply, it comes
down to their respective attitudes toward money and
life. Take a look at the differences... and think
about where you fit.
Poor Dad vs. Rich
Dad
My Poor Dad Says |
My Rich Dad Says |
| "My house is an asset." |
"My house is a liability." |
| Rich dad says, "If you stop working
today, an asset puts money in your pocket and
a liability takes money from your pocket. Too
often people call liabilities assets. It's important
to know the difference between the two. |
| "I can't afford it." |
"How can I afford it?" |
| The statement "I can't afford
it" shuts down your thinking. By asking the
right question, you mind opens up and looks
for answers. |
| "The reason I'm not rich
is because I have you kids." |
"The reason I must be rich
is because I have you kids." |
| "I'm not interested in money." |
"Money is power." |
| "When it comes to money,
play it safe - don't take risks." |
"Learn
how to manage risk." |
| "Pay myself last." |
"Paid myself first." |
| Rich Dad always took a percentage
off the top of any income he earned. He put
this money into an investment account that went
toward purchasing his assets. Poor Dad spent
all his money first and never had any remaining
for investments. |
| Believed that the company
you worked for or the government should take
care of your financial needs. |
Believed in financial self-reliance
and financial responsibility. |
| Focused only on academic
literacy. |
Focused on financial literacy
as well as academic literacy. |
| Learned only the vocabulary
of academia. |
Learned the vocabulary of
finance – "Your words are the most valuable
tools you have." |
| Rich dad says, "Your words are
the most valuable tools you have." |
| "I work for my money." |
"My money works for me." |
| Thought that making more
money would solve his financial problem. |
Knew that financial education
was the answer to his financial problems. |
| Rich Dad says, "It's not how much
money you make that's important – it's how much
money you keep and how long you keep it." |
Understanding the difference
in attitudes between rich dad and poor dad – is essential
to taking the first steps to financial freedom. That
is why we recommend you the
site of Robert Kiyosaki. |
