The rich don’t work for money
My insight based on experience over questions on Chapter 1 of RICH DAD, POOR DAD.
Rich Dad Poor Dad is Robert’s story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
20 Years… 20/20 Hindsight
In the 20th Anniversary Edition of this classic, Robert offers an update on what we’ve seen over the past 20 years related to money, investing, and the global economy. Sidebars throughout the book will take readers “fast forward” — from 1997 to today — as Robert assesses how the principles taught by his rich dad have stood the test of time.
In many ways, the messages of Rich Dad Poor Dad, messages that were criticized and challenged two decades ago, are more meaningful, relevant, and important today than they were 20 years ago.
Here I have tried to attempt a few questions at the end of Chapter 1, ‘The rich don’t work for money’, which fall under self-assessment.
1. How common is the approach to money taken by Robert’s poor dad?
The approach taken by Robert’s poor dad is very common. Most of my kin is in some kind of service; either government or private. I was advised of a similar approach to play safe and take risks once I get settled. Even in case of investments I was suggested to go with the traditional ones than opting for a little risk. I even observed that few people with the same attitude wanted to take risks but spent a lot of time only learning about financial literacy rather than applying it. Hoarding without applying the knowledge ends in missing the opportunities in front of them.
2. Robert’s rich dad said true learning takes energy, passion, and a burning desire. What are examples of when this has proven true in your life? What’s one lesson you never forget and why?
When I was in college I side-hustled by teaching my classmates and juniors. Eight hours of learning and four hours of teaching daily consumed most of my energy and time. At the same time, I was passionate about writing and had a burning desire to make a mark in the field. The one lesson I learned while working on so many fronts was I needed to be a better seller of skills I was good at and stop being lazy.
3. Would the pay rate of ten cents an hour — and then nothing an hour- have stirred in you the same reaction as Robert?
Indeed. I had a similar experience when I joined as an Assistant Professor at a Diploma College. The pay was around 40% less than what I would have got in a corporate job. But still, I said yes and then later experienced that I wasn’t getting paid monthly but half-yearly. The teachers who were working terms before me were being paid quarterly. It stirred a similar reaction in me as Robert. After getting well versed with management and drafting work I resigned from the college to focus on my business.
4. Is it fear that drives most people to work? Are there other factors at play?
Fear of staying behind in the rat race or the social ladder drives the prime motivation for people to go to work. Fear of paying necessary bills and desire towards the uber lifestyle may leave some with sleepless nights.
5. Do you think most people realize they are stuck in the Rat Race? Why or why not?
The rat race starts at home early from the school days. Good grades equate good colleges. Most people know they are stuck in the rat race but live in denial. A rat race is an endless, self-defeating, or pointless pursuit. Brownian motion of efforts. Uncertain. The reason why they are trapped is they keep ‘bringing sticks to a gun-fight.’ And it, later on, becomes the comfort zone of people that they forget to work smart instead of work hard.
Akash Rumade is an author and poet from Roha in Maharashtra. He is currently pursuing his Masters in Construction Engineering and Management at Pillai HOC College of Engineering and Technology, Rasayani. He also has a podcast, ‘Rum-Baba’ on Spotify and Google Podcasts. His books, Sifar and Iztiraar are available on Amazon.
