Quote:
Originally Posted by aceventura3
I think the key theme in "Rich Dad, Poor Dad" as it applies to a broader economic context is the focus on ownership or the value in focusing on the creation of real net worth (wealth). I think these lessons apply on a micro and on a macro basis. I find it ironic that our national economic policy is now more focused on spending and income generation as opposed to savings and the creation of real wealth.
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I see that, but when you get into the specifics, it's basically saying you should start up profitable companies and buy income properties. What if I'm already a successful plumber or landscaper and all I would need to do is follow the steps outlined in
Millionaire Next Door? Spend less than you earn, don't waste money on status objects, make sound investments, and make damn sure your kids learn about money is a different set of strategies. One doesn't need to follow the steps in
Rich Dad to become wealthy, but if they don't follow the steps in
Millionaire, it probably will never happen.
But I see your point about the overall impression
Rich Dad makes. I agree that the current way we use money is out of whack. Here is one of my favourite indicators:
We don't know how to save money anymore. When you have presidents spouting about how spending is a virtue of the patriot, what is one to do? Well, the answer we both already know: educate yourself and make that decision on your own. (The recent spike in the savings rate I believe is merely a knee-jerk reaction to the recession and will not continue once things level out.)
It's amazing though, when you think about it. You can have someone who makes less than $100,000 a year become a millionaire, while there are many who make over that and are actually quite poor and will stay that way until it's too late.
We do indeed focus too much on income and not enough on the essentials of financial security.
And the lack (absence?) of financial education in our public education system is another topic on its own.