Been about a month since my last favorite book excerpts. Recently I read a book that way more people that I know have heard about than my usual reads. Rich Dad, Poor Dad is interesting to me because the world of money is one I hadn't really explored yet. I hate money. I think rich people suck and are one of the main reason this world sucks. I'm not really talking about the 1%, but the 1% of the 1%. In some ways this book confirmed my suspicions, in some ways it made me see what I already knew in a new light, and in others it shed light on things that I knew I didn't know... and now having read it, the world makes a little more sense and is less scary in that I understand the world better, and more scary because I see a little more clearly how we're all screwed. But those are just my conclusions/meditations, I'm sure other people may get a very different set of take-aways from reading it.
But anyway, here are some great excerpts from it:
I had two fathers, a rich one and a poor one. One was highly educated and intelligent; he had a Ph.D. and completed four years of undergraduate work in less than two years. He then went on to Stanford University, the University of Chicago, and Northwestern University to do his advanced studies, all on full financial scholarships. The other father never finished the eighth grade.
Both men were successful in their careers, working hard all their lives. Both earned substantial incomes. Yet one struggled financially all his life. The other would become one of the richest men in Hawaii. One died leaving tens of millions of dollars to his family, charities and his chruch. The other left bills to be paid.
Both men were strong, charismatic and influential. Both men offered me advice, but they did not advise the same things. Both men believed strongly in education but did not recommend the same course of study.
If I had had only one dad, I would have had to accept or reject his advice. Having two dads advising me offered me the choice of contrasting points of view; one of a rich man and one of a poor man.
Instead of simply accepting or rejecting one or the other, I found myself thinking more, comparing and then choosing for myself.
"The poor and the middle class work for money. The rich have money work for them."
"You see, your dad went to school and got an excellent education, so he could get a high-paying job. Which he did. But he still has money problems because he never learned anything about money at school. On top of that, he believes in working for money."
"And you don't?" I asked.
"No, not really," said rich dad. "If you want to learn to work for money, then stay in school. That is a great place to learn to do that. But if you want to learn how to have money work for you, then I will teach you that. But only if you want to learn."
... But money cannot do that."
"Even rich people?" Mike asked.
"Rich people included," said rich dad. "In fact, the reason many rich people are rich is not because of desire but because of fear. They actually think that money can eliminate that fear of not having money, of being poor, so they amass tons of it only to find out the fear gets worse. They now fear losing it. I have friends who keep working even though they have plenty. I know people who have millions who are more afraid now than when they were poor. They're terrified of losing all their money. The fears that drove them to get rich got worse. That weak and needy part of their soul is actually screaming louder. They don't want to lose the big houses, the cars, the high life that money has bought them. They worry about what their friends would say if they lost all their money. Many are emotionally desperate and neurotic, although they look rich and have more money."
"So is a poor man happier?" I asked.
"No, I don't think so," replied rich dad. "The avoidance of money is just as psychotic as being attached to money."
"So what do we do?" I asked. "Not work for money until all traces of fear and greed are gone?"
"No, that would be a waste of time," said rich dad. "Emotions are what make us human. Make us real. The word 'emotion' stands for energy in motion. Be truthful about your emotions, and use your mind and emotions in your favor, not against yourself."
"I want to teach you to master the power of money. Not be afraid of it. And they don't teach that in school. If you don't learn it, you become a slave to money."
The whole book is good, pretty compact quick read to, but maybe you get the idea. The first couple chapters in particular tell some stories about lessons he learned young. Later chapters are more him explaining details about principles of how to really make money.