What Everyone Ought To Know…About This Book Rich Dad Poor Dad
First off, “Poor Dad” was NOT poor! As a civil servant, he had three things going for him:
- Job Security – although not 100% secure, civil service jobs are thought to be more secure than jobs in the private sector. Having a stable job aids with consistent savings and investment.
- Defined Benefit Plan (i.e., a Pension) – his pension, I’m sure, generated a steady stream of income when he retired from working.
- Social Security – his monthly social security check replaced part of his income when he retired.
Together, these three items are known as the retirement ‘Three-Legged Stool’. If planned for properly, ‘Poor Dad’s’ stool likely generated thousands of dollars in monthly income. Depending on ‘Poor Dad’s’ monthly expenses, this income probably made him financially independent. Accordingly, ‘Poor Dad’ is squarely in the top 5% of men in his age group, if we believe Earl Nightingale’s speech ‘The Strangest Secret’.
Does any of the aforementioned sound like a ‘Poor Dad’ to you? Or, does it sound more like someone on the path of the ‘Millionaire Next Door’? I suppose, not many readers would have read ‘Rich Dad Millionaire Next Door Dad’. What do you think?
