Rich Dad vs. Poor Dad Thinking

As many of you are aware of, Robert Kiyosaki’s Rich Dad Poor Dad book became one of the hottest selling books. He introduced the term “rat race” which refers to the ordinary income-spend lifestyle, living from paycheck to paycheck.

In order to get out of the rat race, we need to build passive income from assets which would generate enough income to sustain our needs and wants. One of the things that we must first do is to change and open our minds from industrial age thinking to information age thinking. We need to shift our minds from negative to positive. Instead of making excuses, think of ways to get out of the rat race. That separates the winners vs. losers.

Here are some of Rich Dad vs. Poor Dad Thinking. Notice the difference between the way both dads think:

Poor Dad says: “Go to school and make good grades.”
Rich Dad says: “Become financially literate.”

Poor Dad says: “Get a safe, secure job.”
Rich Dad says: “Build businesses.”

Poor Dad says: “Workd hard and invest.”
Rich Dad says: “Don’t save, invest.”

Poor Dad says: “Work for money.”
Rich Dad says: “Let money work for you.”

Poor Dad says: “Pay your creditors first.”
Rich Dad says: “Pay yourself first.”

Poor Dad says: “Save money by shopping for bargains.”
Rich Dad says: “Make money by shopping for investments that will go up in value.”

Poor Dad says: “Don’t buy something you can’t afford.”
Rich Dad says: “Ask yourself how you can afford it.”

Poor Dad says: “Investing is risky.”
Rich Dad says: “Not investing is risky.”

Poor Dad says: “Your house is an asset.”
Rich Dad says: “Your house is a liability.”

Poor Dad says: “The rich are greedy.”
Rich Dad says: “The rich are generous.”

Poor Dad says: “Money is a neccesary evil.”
Rich Dad says: “Money is power.”

Poor Dad says: “The love of money is the root of all evil.”
Rich Dad says: “The lack of money is the root of all evil.”

Poor Dad says: “Your pension and Social Security will protect you in retirement.”
Rich Dad says: “Your pension and Social Security will not support you in retirement.”

Poor Dad says: “Put your investments in the hands of someone else.”
Rich Dad says: “Watch your investments but seek competent advisors.”

So which path would you like to follow? Which advice would you like to take? The path of Poor Dad working harder and harder for money or the path of Rich Dad having your money work for you?