It was hard to figure out which dad he should listen to. And the other dad, well, he became one of the richest people in Hawaii.īy having two dads, with entirely different mindsets, Kiyosaki found himself comparing the two dads a lot. While both men worked hard, were successful, and earned a lot of money, there was always one who struggled with money. The other father didn’t even finish the eighth grade. and so intelligent he completed his undergraduate degree in only two years. Robert Kiyosaki had two fathers: a rich one and a poor one. When presidents promise to raise taxes on the rich, they typically mean the middle class. This statement is true because it’ll always be the person who works for money who gets taxed the most. The poor and middle class will always pay more taxes than the rich. Instead, they should focus on learning from the rich as they pay fewer taxes legally. Poor people often get angry when they learn rich people pay less in taxes. Rich Dad Lesson: “Why the rich pay less in taxes.” Believe it or not, but that number has since exploded to $1.2 quadrillion in financial derivatives.
Yet, somehow, the poor were blamed even though there were approximately $700 trillion in financial derivatives. “The rich created financially-engineered products known as derivatives.” Even Warren Buffett hated these, calling them “weapons of mass financial destruction.” The derivatives were the cause of the housing market collapse. The real estate crash was caused by the rich, not the poor. However, it wasn’t until 2007 when “subprime borrowers began to default on their subprime mortgages,” that people realized that a house wasn’t an asset. Historically, people believed that your home was the biggest investment you can make. When Robert Kiyosaki first published Rich Dad, Poor Dad in 1997, every publisher who had rejected his book had criticized the lesson regarding a person’s house not being an asset. Rich Dad Lesson: “Your house is not an asset.” And the biggest savers are the poor and middle class. Today’s interest rates are relatively close to zero, which is what makes savers losers. Notably, after each stock market crash, the American government and the Federal Reserve Bank started “printing money.” When you look at the data visually, you can see how big of an impact the crashes were. The first three crashes of the 21st century pale in comparison to the great crash of 1929. However, the reason why savers are losers is that since 2000 there have been three massive stock market crashes. The emphasis on saving is only found in the poor and middle class. Thus, showing that the biggest increases in income go to entrepreneurs and investors– not employees. Some economists in California even noticed that about 95% of income gains between 2009-2012 went to the wealthiest people in the world– the one percent. In today’s world, there’s never been a more significant divide between the rich and all other income classes. Rich Dad’s Lesson 1: “The rich don’t work for money.”
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