Rich Dad, Poor Dad – Answer me this, Robert…

“I find so many people struggling, often working harder, simply because they cling to old ideas. They want things to be the way they were; they resist change. I know people who are losing their jobs or their houses, and they blame technology or the economy or their boss. Sadly they fail to realize that they might be the problem. Old ideas are their biggest liability. It is a liability simply because they fail to realize that while that idea or way of doing something was an asset yesterday, yesterday is gone.”  ― Robert T. Kiyosaki

I would wager – if I were the bettin’ kind – that everyone’s heard of this book. The catchy title and subject matter (the almighty $) ensures that!

There are plenty of pithy quotes, like… “There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.” ― Robert T. Kiyosaki

Yes, I know. We know. We ALL know, Robert. Stop it, already. Am I right?

Well, actually…

Rich Dad, Poor Dad by Robert T. Kiyosaki (with Sharon L. Lechter, CPA) is not your average book about money… or learning about saving, respecting, loving or hating money. It’s very, very good. I just happen to hate it. More on that in a moment.

Deep breaths…

First… the book is set up into lessons:

  • Lesson 1: The Rich Don’t Work for Money
  • Lesson 2: Why Teach Financial Literacy?
  • Lesson 3: Mind Your Own Business
  • Lesson 4: The History of Taxes and The Power of Corporations
  • Lesson 5: The Rich Invent Money
  • Lesson 6: Work to Learn—Don’t Work for Money

Then, it heads into what I like to call… uncomfortable, icky places. Kiyosaki calls them “Roadblocks to becoming financially independent”. This is where we learn about Fear, Cynicism, Laziness, Bad habits and Arrogance.

Ugh. Let’s just say I have traveled that particular road and have been stopped by each and every roadblock.

Kiyosaki says he wrote the book to “share insights” and that, he does. He also speaks in a language that is easily understood and keeps things moving forward.

Listen, this book is beloved by many. Not so much by me, as I alluded to (outright stated) above. Don’t let that deter you. I know it’s good. Heck, it’s excellent! Young folks, especially, will benefit from its wisdom. Old folks like me? Mayyyyybe.

Here’s the thing:

Quote One – “Financial struggle is often the result of people working all their lives for someone else.”

So, I need to work for myself, not someone else. Yeah, I might be a little late to that party.

Quote Two – “An important distinction is that rich people buy luxuries last, while the poor and middle-class tend to buy luxuries first.”

Oh, jeepers. You may not be aware of this, Robert, but I buy 98% of my clothes at a thrift store, drive a twelve-year-old vehicle, feed my husband and myself with mostly no-name food items I doctor up, and at nearly 60, I’ve never owned a home, let alone been able to save. Those luxuries you mention? Non-existent. Or, do you mean, rich like in “It’s a Wonderful Life“… ???… you know, because I have friends? Didn’t think so.

Quote Three – “The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth.”

I suspect that “trained well” is the optimum point, here. Ya know, though… my sister and I are the only two siblings. She’s in her mid-50’s and still has her tooth fairy money… a real saver, that one. Unlike me. Money “burned a hole” in my pocket. Often, my paycheck is gone before I get home from the bank after cashing it. Know what I mean? Point is, both of us were “trained” the same. She has no real money worries. “Money Worries” is my middle name. ‘Splain, that, Rich Dad. Or Poor Dad. Either one of you is fine.

Quote Four – “Simple math and common sense are all you need to do well financially.” 

Did you say… da mafs? I don’t do well on da mafs. I jest, kinda. I do just fine with money math… and worked in banks for half of my adult life. I get it. I really do. In my head, I mean. Not my wallet, as it’s clearly empty.

Now, see… I could go OFF on a whole thing here. Maybe it’s my current depressive (or anxious) state. Maybe I’m pissed in general. Maybe I just hate money. Yeah, yeah… I know… that, right there, is enough to make it so. Blech.

I waited a long time to discuss this book. Looks like I picked the wrong week to pull it off the shelf. lol

PS: I’m not ungrateful. I know I have much more than many people on earth. It’s just that… Never mind.

(Also, it’s not the first time I’ve talked about money. If you’re interested, read this earlier blog post of mine!)

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