If you are not familiar with the phrase “poor dad” and “rich dad,” then let me introduce you to this idea. A poor dad is someone who does not work for money. On the other hand, a rich dad is someone who works hard to earn money. The difference between the two is in how these men view money. The rich dad creates money first, then buys things with the money he makes.
Rich Dad is a hardworking government employee
Rich Dad is a smart businessman while Poor Dad is a hardworking government employee. A school kid meets both of them when they are both at work. Robert, who was once an Xerox employee, finds out that he is a “rich kid” because his father is very financially literate. He learns about money from his dad and wants to follow in his footsteps.
Robert Kiyosaki has written 26 books and is the author of Rich Dad, Poor Dad. The first lesson in the book is to understand that the rich are not working for their money. This is true. In the book, Kim’s parents were struggling with their finances because property taxes were rising.
Rich Dad is an entrepreneur
Robert Toru Kiyosaki is a businessman, author, and entrepreneur. His business, the Rich Dad Company, is focused on personal finance and business education. His books and website have helped a number of people become successful. The Rich Dad Company has become one of the most popular financial resources online.
The rich dad represents the independent wealthy core of our society. He uses the power of corporations and his knowledge of tax and accounting to grow his wealth. The rich dad was never taught money lessons in school and has learned all of his money lessons on his own. The theme of the book is that people can become successful if they have the right attitude, work hard, and mind their own business.
Rich Dad was an entrepreneur who started out in the S quadrant of the economy, and then grew his business into a massive B business. This means that his business is essentially the size of a city or state.
Poor Dad doesn’t work for money
In Rich Dad, Poor Dad, Robert Kiyosaki points out that the rich don’t work for money, they generate cashflow from other sources. The book is a good primer on the importance of cash flow management and how to increase your cash flow. Rich Dad, Poor Dad is not just for kids, it’s also for the parents.
The book was written by Kiyosaki, who is the son of two fathers. His biological father was a Stanford-educated PhD, but financially uneducated. His best friend’s father was a high school dropout who built a business empire. In the book, Kiyosaki discusses the six lessons he learned from his dad.
Subprime borrowers began to default on their mortgages in 2007
Many of these loans had been packaged into complex investment products and sold to investors around the world. By July 2008, one in five subprime mortgages and nearly two-thirds of adjustable rate mortgages were seriously delinquent. As a result, financial institutions were left holding trillions of dollars worth of investments that were nearly worthless.
As interest rates soared, new home sales slowed and median home sales declined. In addition, inflation fears fueled a spike in mortgage default rates. CDOs, which are investments in mortgages, were no longer attractive to investors looking for a yield. In addition, many of these investments were repackaged many times, leaving investors unsure of whether they were a good investment.
The rise in interest rates increased the monthly payments on subprime mortgages. Meanwhile, the slowing real estate market made it difficult for many homeowners to refinance their loans or sell them. This created a situation where many homeowners were unable to keep up with their monthly mortgage payments. Subprime borrowers began to default on their mortgages and many were forced to file for bankruptcy. As a result, more than half of the top 25 subprime mortgage lenders had to shut down or sell their businesses to avoid bankruptcy.
Kiyosaki’s philosophy on wealth creation
Robert Kiyosaki’s philosophy on creating wealth has received both praise and criticism. He has called college students and PhD holders “suckers,” and he has made sarcastic remarks about those with high educational attainment. In fact, his father was a PhD who became unemployed during his last years. However, Kiyosaki has defended his words and said that he is pro-education.
Kiyosaki writes that the secret to a successful life lies in changing one’s mindset. By avoiding the Scarcity Mindset, one can avoid being swayed by the trap of believing that the pie is limited and that a larger piece of it must be taken from someone else. This mindset causes people to become suspicious of others and focus on their expenses instead of their income, leading to miserliness and poverty.