Rich Day Poor Dad Story

Rich Dad Poor Dad

 

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.”

 

“There is a difference

between being poor

and being broke.

Broke is temporary.

Poor is eternal.”

 

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 because, I have you

kids.” The other said, “The reason I must be rich is because I have

you kids.”

One encouraged talking about money and business at the dinner

table, while the other forbade the subject of money to be discussed

over a meal.

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. He loved the idea of medical

benefits and PX privileges 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, then 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.

One dad struggled to save a few dollars. The other created

investments. One dad taught me how to write an impressive resumé

so, I could find a good job. The other taught me how to write strong

business and financial plans so I could create jobs.

Rich Dad Poor Dad

 

Being a product of two strong dads allowed me the luxury of

observing the effects different thoughts have on one’s life. I noticed

that people really do shape their lives through their thoughts.

For example, my poor dad always said, “I’ll never be rich.” And

that prophecy became reality.

My rich dad, on the other hand, always

referred to himself as rich. He would say things like,

“I’m a rich man, and rich people don’t do this.”

Even when he was flat broke after a

major financial setback, he continued to refer to himself as a rich man.

He would cover himself by saying,

 “There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.”

 

My poor dad would say, “I’m not interested in money,” or

“Money doesn’t matter.”

 My rich dad always said, “Money is power.”

 

The power of our thoughts may never be measured or appreciated,

but it became obvious to me as a young boy that it was important

to be aware of my thoughts and how I expressed myself. I noticed that my

poor dad was poor, not because of the amount of money he earned, which was

significant, but because of his thoughts and actions. As a young boy having two

fathers, I became acutely aware of being careful about which thoughts I chose to adopt as my own.

Should I listen to my rich dad or to my poor dad?

Although both men had tremendous respect for education and

learning, they disagreed about what they thought was important to

learn. One wanted me to study hard, earn a degree, and get a good job

to earn money. He wanted me to study to become a professional, an

attorney or an accountant, and to go to business school for my MBA.

 

The other encouraged me to study to be rich, to understand how

money works, and to learn how to have it work for me.

“I don’t work    for money!”  

were words he would repeat over and over.

“Money works for me!”

 

Conclusion:

At the age of nine, I decided to listen to and learn from my rich

dad about money. In doing so, I chose not to listen to my poor dad,

even though he was the one with all the college degrees.