One of my students (a middleschooler!) is very interested in money and investments. So, we started reading Rich Dad, Poor Dad. It’s going great!
As part of our lesson, the student and I compared the rich dad and the poor dad. He asked me which one I was, and I said “I’m the poor dad who wants to be the rich dad.”
Here’s what we discovered:
Poor Dad: Highly educated and intelligent
Rich Dad: never finished the 8th grade
Both: Successful in their careers, working hard all of their lives
Both: substantial incomes
Poor Dad: struggled financially all of his life
Rich Dad: one of the richest men in Hawaii
Rich Dad: Died leaving tens of millions of dollars to his family, charities, and his church
Poor Dad: Left bills to be paid
Both: Charismatic and influential
Both: Believed in education (but different courses of study)
Poor Dad: “The love of money is the root of all evil.”
Rich Dad: “The lack of money is the root of all evil.”
Poor Dad says: “I can’t afford it.”
Rich Dad says: “How can I afford it?”
Poor Dad: put his brain to sleep when it came to money matters
Rich Dad: had a habit of exercising his brain
Poor Dad: thought the rich should pay more in taxes to take care of those less fortunate
Rich Dad: thought “Taxes punish those who produce and reward those who don’t produce.”
Poor Dad: “Study hard so you can find a good company to work for.”
Rich Dad: “Study hard so you can find a good company to buy.”
Poor Dad: “The reason I’m not rich is because I have you kids.”
Rich Dad: “The reason I must be rich is because I have you kids.”
Rich Dad: Encouraged talking about money and business at the dinner table.
Poor Dad: Forbade the subject of money to be discussed over a meal.
Poor Dad: “When it comes to money, play it safe, don’t take risks.”
Rich Dad: “Learn to manage risk.”
Poor Dad: “Our home is our largest investment and our greatest asset.”
Rich Dad: “My house is a liability, and if your house is your largest asset, you’re in trouble.”
Poor Dad: Paid the bills first.
Rich Dad: Paid the bills last.
Poor Dad: Believed the company or government should take care of you and your needs.
Rich Dad: Believed in total financial self-reliance.
Poor Dad: Struggled to save a few dollars.
Rich Dad: Created investments.
Poor Dad: Taught how to write an impressive resume to find a good job.
Rich Dad: Taught how to write strong business and financial plans to create jobs.
Poor Dad: “I’ll never be rich.”
Rich Dad: “I’m a rich man.” (even when it didn’t show)
Poor Dad: Wanted his son to earn a degree and get a good job to work for money.
Rich Dad: Wanted him to study to be rich, to understand how money works and learn how to have it work for him.
The book has been an inspiring reread for me, too. If part of my vision is to have money freedom, then developing a comfortable understanding and relationship with money is an important “what” to my “how.” If you haven’t read yourself, I highly recommend it! Not only has this been a useful financial read, it’s a reiteration of what I’ve learned through the DreamBuilder program. I was excited to read about mindset, persistence, sourcing, and asking the right questions!
Much love, abundance, and blessings! ❤