Rich Dad Poor Dad Part 3: Savers are Losers

Savers Are Losers Video from Robert Kiyosaki


Along with Kiyosaki, I realize this statement goes against the grain and probably contradicts everything you’ve ever been taught in regard to your finances.


In 1971, the year I was born, President Nixon took the United States off of the Gold Standard. This made the U.S. dollar the world’s reserve currency. According to Kiyosaki, this change, along with others, is one of the reasons we experience such economic volatility today.


As I discussed in Part 2 of this “Rich Dad Poor Dad” series, savers are more times than not found on the left side of the Cash Flow Quadrant. Savers should learn to become investors or entrepreneurs and exist on the right side of the Cash Flow Quadrant. Why? Because if traditional savers, over the last 20 to 30 years, had invested their assets in oil, gold, rental real estate, or even into their own businesses, rather than just save their money, their bank accounts would have much larger balances today. This is because these types of investments have more protection against the eroding forces of taxes and inflation.


I would encourage you to refer back to my post titled Establishing a Safety Net, but for simplicity sake, everyone should have savings! Basic savings will allow you to sleep well at night because you can weather the tough times without having to go into debt. Also, good savings will allow you to be opportunistic! People with cash on hand typically see the world differently. They have the ability to see things through the lens of opportunity. So please do not misunderstand the title of this message. Kiyosaki simply wants you to be in a position to capitalize when an opportunity presents itself.


Thank you for continuing to join me throughout this Rich Dad series.  I hope you’re being encouraged to begin incorporating these ideas into your own financial strategy so you can begin living The Life You Can Afford to Live I will be wrapping up this series next week with Part 4: Assets and Liabilities. As always, I’m here to help if you need me!



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