Ben SimpsonNavigating the world of crypto with confidence & expertise | Founder & CEO of Collective Shift

Reading Rich Dad Poor Dad changed everything for me. #cryptocurrency #investing #wealth

Name: Reading Rich Dad Poor Dad changed everything for me. #cryptocurrency #investing #wealth
Uploaded: 2025-09-16T02:34:24+00:00
Duration: 1 min 16 s
Channel: Ben Simpson
Description: Ben Simpson describes how reading Rich Dad Poor Dad and understanding its 'quadrant' changed his financial life. He recounts learning one key idea about…

16 Sept 2025 · 1 min

Watch on YouTube

1:16

Ben Simpson describes how reading Rich Dad Poor Dad and understanding its 'quadrant' changed his financial life. He recounts learning one key idea about nine years ago when he was poor (shared a bunk bed, negative bank balance) that led him to grow his net worth to over eight figures in that period. The core lessons: you cannot get rich by selling hours (earned income is taxed heavily—he states between 20% and 47%), so you must own a business or invest to grow equity; investments compound ("eighth wonder of the world") and taxes are often deferred until sale, and the wealthy may borrow against assets instead of selling to avoid taxes.

Questions this video answers

Nine years ago.

He says he grew his net worth to "over eight figures" in the last nine years.

He claims earned income is taxed "anywhere between 20% and 47%."

Chapters

When I learned this one thing nine years ago, when I was poor, had negative amount of money in my bank account, I shared a bunk bed with my brother. I learned this one thing that has now changed the game and has allowed me to grow my net worth over eight figures over the last nine years because of this one thing, and that is understanding the quadrant of rich dad, poor dad. The thing that it taught me was that you cannot get rich by working hours and getting paid for those hours you work. You are taxed by the government to remain poor. Every dollar that you get in your bank account has already been taxed. Every dollar you work for comes in your bank account at a discount. They're already taking anywhere between 20% and 47% of your money. What you need to do is you need to either own a business or you need to invest and grow equity. If you grow equity in investments, it compounds and grows and you don't get taxed until you sell it. So if you take that money that you earn from your income and you put into investments and let it grow and use the eighth wonder of the world, which is compounding interest, then that is the only way you can get ahead. You then pay tax down the line or if you're really smart, and this is what really the rich do, they never pay tax because they never sell their investments. They lend against those investments and they grow it again. That is the thing that changed the game. It took me from having no idea about money being completely poor and broke to where I am today. And that is the thing you need to understand about investing and get that money into investments and into assets.