The basic difference between the two is how they approach money. The Rich dad creates money first, then buys things with the excess. The Poor dad, on the other hand, does not work for money. They have very different ideas about what money is and how to earn it.
Rich dad prefers to specialize
According to Rich Dad Robert Kiyosaki, one must specialize in no particular field. He should work in many areas and attend meetings, so that he can learn every aspect of building a huge empire. If you don’t specialize, you might have nowhere to go, and if you become lazy, you have nothing to fall back on.
Poor dad doesn’t work for money
In the best-selling book Rich Dad Poor Dad by Robert Kiyosaki, the author highlights the differences between a poor and a rich mindset. The two men’s mindsets, for example, differ in focusing on making money and their relationship with fear and greed. While one may be more comfortable pursuing a safe, secure job with a pension and good benefits, the other may be more focused on independent thinking and financial literacy.
Robert Kiyosaki was once forced to work a job he hated for two weeks because of low pay. His poor father had told him to demand a raise of at least 25 cents an hour, and if he wasn’t offered a raise, he should quit his job. He eventually got a meeting with a rich dad, but he had to wait 60 minutes longer than he had hoped.
Robert Kiyosaki’s book Rich Dad Poor Dad focuses on the importance of personal responsibility in money management. Instead of waiting for a financial bubble to burst, you can take action now to start building your own wealth.
They share anger with Robert Kiyosaki
Robert Kiyosaki grew up with two “dads,” a poor one who was a public school superintendent and a wealthy one who worked in government. Both fathers wanted their sons to get a respectable education and rise through the corporate ladder. They both valued job security. Robert Kiyosaki had to decide what he would do, and ultimately chose to become a teacher.
As a child, Robert Kiyosaki wanted a baseball glove. As an adult, he wanted a more expensive one. Many people who are wealthy are stuck in the same trap. The more money you have, the more you spend. The result is debt.
Rich Dad and Poor Dad also teach readers that they should not overvalue the value of their home. While it is true that homes tend to appreciate, you have to realize that not all homes increase in value. Many people buy million-dollar homes and then sell them for far less than they originally paid. This puts a strain on the family’s budget.
They have very different ideas on how to make money
The authors of the book “Rich Dad, Poor Dad” have very different ideas about money and financial independence. While they both have a common goal of financial independence, they have very different ideas about how to make money. Rich Dad, for example, believes that money comes from hard work and bold risk-taking. This perspective was popular in the early 20th century, when strong growth meant stability. Today, pensions are not a guarantee, and job security with a loyal employer is a rare commodity.
Robert Kiyosaki grew up with two different types of fathers. His biological father was well-educated but held a conservative mindset, and his wealthy father had a very different perspective. Both fathers gave conflicting advice on money. However, Kiyosaki ultimately followed the advice of the rich dad, and became the successful entrepreneur he is today.
While Robert and Mike were growing up, they spent time with their rich father. They attended meetings and talked to professionals. Even though they had not completed college, they were able to gain more financial literacy than their fathers. They listened to bankers, tax accountants, and real estate brokers, and kept books.