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Thoughts from "Rich Dad Poor Dad" Part 1

Updated: Jan 5, 2023

"There is a difference between being poor and being broke. Broke is temporary. Poor is eternal."

This is part one of a series of notes and commentary based on insights from Rich Dad Poor Dad by Robert T, Kiyosaki.

#1:There's a Difference Between Being Broke and Poor

This is the first time I have encountered someone deciding that being broke and being poor are not the same. It is a statement that I can agree with. For example, we may not be poor, but after we pay our bills, we may be broke until out next paycheck. Being poor, is the essence of consistently being broke. However, I do not agree that being poor is eternal.

Reason 1: A person can have little to know money, but have great riches. The difference is in perspective. Being broke, rich or poor are all relatively subjective.

Reason 2: A person can shift from being poor to "rich" and a rich person can become poor rather quickly.

Conclusion; Being poor is not a fixed financial state, it can change, and it's subjected to a person's point of view.

#2 The Poor and Middle Class Work For Money

"The poor and the middle class work for money. The rich have money work for them."

I understand the idea behind this statement, however, I do not like the connotations it conveys. Yes, we of the working class, work. It's not just about earning an income. We have values that we uphold. Some of us are content with less. Sometimes, adhering to our values and morals costs us the lavish lifestyle that having a six-figure income would provide.

There is no shame in being content with the resources that you have. Learn to manage that well. If you see it fit to climb the financial ladder, you have every right.

The reality is that the upper class, will always need a lower and working class. It's okay to be where you are at or to change that.

I would go as far to say that the poor or working class may not have the capital to make "money work for them", but we have plenty of other things working for us.

#3: Driven by Fear and Greed

"People's lives are forever controlled by … fear and greed."

This statement highlights human nature. The basic fight or flight instinct. This is a force that impacts our survival. So, I completely agree with this statement. We see it all the time in the world. It's not limited to money. This is a phenomena that's not going anywhere. However, our responses can be trained. Our bodies may signal us to one direction, but with cognitive ability, we have the means to control our own behavior.

Follow -Up

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