Nick Hutchison breaks down Robert Kiyosaki's Rich Dad Poor Dad, arguing that financial education happens at home, not in school. He challenges the idea that buying a house always builds wealth, and explains three money mindsets: poor, middle-class, and rich. Learning economics and investing matters because everyone has to play the game of money.
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Hello, Book Thinkers family! Do you have a poor person's financial mindset? Today's book tip is going to come from the first book that I ever read, Rich Dad Poor Dad by Robert Kiyosaki. One of the lessons that Robert taught me in this book is that money is not taught in school, it's only taught in the home. So if you grow up in a poor family, you are going to learn poor money habits. Your parents will tell you to stay in school and work hard and get good grades, and that'll lead to a better life, and Sometimes it does, but that traditional definition of success where earning a degree equals more money isn't the same as it used to be. And so what about a middle-class family where most people sit? You learn a middle-class mindset, which includes, hey, spend a lot of money on a house and earn a lot of debt and owe the government for the rest of your life and live above your means. Again, not the best mindset to be learning, but if you grow up in a rich family, you're going to learn a rich person's financial mindset. You're going to understand financial literacy and how to read numbers, and that's going to put you ahead. Because again, money is not taught in school, it's only taught in the home. And so that was backwards for me. And when I read that, I thought, oh, okay, maybe buying a house and putting hundreds of thousands of dollars or millions of dollars into somebody else's pocket through interest, like the bank, isn't the best idea. maybe I should read about people like Robert and the other people behind me who were successful in other ways, not working for other people but working for themselves. And so that lesson has been with me for about 5 years, and I've just consistently, consistently, consistently educated myself about money. Now, I hear this all the time, you're materialistic if you care about money. That's not always true. I don't consider myself to be materialistic. I don't own a lot. Besides a car and books and some clothing. And I just feel that it's important to understand money because we are all forced to play the game of money, so you might as well be good at it. Money needs to put a roof above your head and food in your stomach. And so understanding economics and understanding how to read numbers and accounting and investing and all of that is just going to help you in life to secure a sense of financial security for yourself and for your loved ones and for your family. And like I said, we're all forced to play the game of money, so you might as well be good at it. I'll do a couple more lessons from Rich Dad Poor Dad because again, this is the book that kicked it all off for me. And I know that it's a book that a lot of you value so much. I posted about it the other day and it was overwhelmingly in favor of Rich Dad Poor Dad. So with that, I'll end today's video. I hope everybody has a fantastic day. Go learn something about money. And that's it. Bye. Bye.
