WHAT DID I LEARN THIS WEEK? – Week 4
I watched a few interview videos of Robert Kiyosaki, the author of ‘Rich Dad, Poor Dad’, and I learned a few things from these videos this week. Therefore, I’m going to share with you in this post.
1. I see that many people who were earning lots of money by doing what they love have nothing once they’re getting older. This is because they were making money instead of building an asset which generates money to them. Imagine that you’re working for a big company and earning up to $150k per year after paying 40% of tax. In addition, nothing goes wrong because you’re doing what I love. Do you think you’re a rich person? If I were you, I would say ‘No’ to this question. This is because you’re earning this money by working, but what if you retire? Could you earn the same amount without working? Definitely no, this is because your income at that moment may be only the support from the government. This is the first lesson I learned when watching a few videos of Robert Kiyosaki. Many young people are in the trap of life once they go to school, earn a lot of money by doing what they love, pay tax and finally retire with the support from their government. In the end, they have nothing because they were chasing money rather than building the asset. That’s why they’re still poor even they earn lots of money.
2. Another thing I learned from the lesson above is that young people tend to do what they love rather than invest in their passion. It leads them to the trap of life which is mentioned above. So, what is the difference between those things (doing and investing)? Doing what you love is the moment when you just focus on what you like to learn. Once you’re doing what you love for a long time, you may have nothing at the end of the day. On the other hand, investing in your passion is the moment when you have to learn not only what you like but also what you hate due to the purpose of life. Once you’re investing in your passion, you have a ‘money generator’ which is your asset. That’s why rich people is getting richer. They’re investing in their passion rather following it. Let’s think whether Mark Zuckerberg, Facebook CEO, building software now or he’s investing money in people who are making it.