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Rich Dad Poor Dad In English

Rich Dad Poor Dad in English

12 Nov 2024

Transcription

Chapter 1: What is the main topic discussed in this episode?

0.031 - 5.279 Unknown

All right. Let's take a deep dive into this book Rich Dad Poor Dad that you shared with me.

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5.539 - 5.739 Michael Rosenbaum

OK.

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5.94 - 11.047 Unknown

I've been hearing so much about this Robert Kiyosaki guy and his whole like two dads thing.

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11.167 - 20.22 Michael Rosenbaum

Yeah. Yeah. His two dads philosophy is it's really interesting. Yeah. He basically uses the life lessons from his own father the poor dad.

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20.441 - 20.661 Unknown

Right.

21.001 - 23.024 Michael Rosenbaum

And his best friend's father the rich dad.

23.084 - 23.345 Unknown

OK.

23.765 - 29.093 Michael Rosenbaum

To show how like different ways of thinking about money can lead to really different financial outcomes.

29.174 - 35.742 Unknown

So from what I'm getting, it's not really about how much money you actually make, but like how you think about it.

Chapter 2: How does Robert Kiyosaki's two dads philosophy shape financial thinking?

38.265 - 38.365 Unknown

Okay.

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39.346 - 51.641 Michael Rosenbaum

He says that how we think about money, the beliefs that we have about money, a lot of times come from how we grew up, you know, like our families and stuff. And those beliefs can really make a big difference in whether or not we're successful with money.

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52.101 - 57.628 Unknown

Interesting. Okay, so who exactly were these two dads and what made their views on money so different?

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58.25 - 71.768 Michael Rosenbaum

So Kiyosaki's real dad, the poor dad, was super educated. He had a PhD. Yeah. And he had a really good secure job with the government. But even with all of that, he struggled with money his whole life.

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72.049 - 72.349 Unknown

Really?

72.369 - 83.464 Michael Rosenbaum

Then you have the rich dad who was his best friend's father. He never even finished the eighth grade. Wow. But he built this huge successful business and ended up being one of the richest guys in Hawaii.

Chapter 3: What are the differences between the mindsets of the rich dad and poor dad?

83.579 - 91.656 Unknown

Oh, wow. That is a crazy contrast. It's like he's trying to get us to really think about what it actually means to be successful with money, you know?

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91.676 - 100.415 Michael Rosenbaum

Yeah, totally. He uses these two guys to show us that, like, just because you have a good education or a steady job doesn't automatically mean you're going to be good with money.

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100.435 - 103.08 Unknown

So it's not just about working hard and making a good salary.

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103.301 - 103.501 Michael Rosenbaum

Right.

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103.561 - 104.423 Unknown

There's more to it.

104.504 - 111.53 Michael Rosenbaum

There's definitely more to it. He says that you need to understand how money works, like financial literacy.

111.891 - 112.271 Unknown

Yeah.

112.291 - 114.333 Michael Rosenbaum

And that's something that most schools don't even teach.

115.094 - 119.518 Unknown

That makes sense. You could be like a doctor or a lawyer and still not know how to handle your money, right?

Chapter 4: How do beliefs about money affect financial success?

120.038 - 125.363 Michael Rosenbaum

And end up struggling. Yeah. And that's what happened with his poor dad. He would always say, the love of money is the root of all evil.

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125.583 - 125.823 Unknown

Right.

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126.424 - 133.53 Michael Rosenbaum

So he was kind of afraid of being wealthy, you know. But then the rich dad would say, the lack of money is the root of all evil.

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134.051 - 134.511 Unknown

Wow.

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135.25 - 138.674 Michael Rosenbaum

So he thought it was really important to be financially stable.

139.255 - 141.498 Unknown

That is such a different way of looking at money.

141.558 - 142.038 Michael Rosenbaum

Right.

142.258 - 147.845 Unknown

I wonder, do you think like most people tend to think more like the poor dad or the rich dad?

148.186 - 152.451 Michael Rosenbaum

That's a great question. It makes you think about like your own beliefs about money.

Chapter 5: What are the six lessons Kiyosaki learned from his rich dad?

153.212 - 157.697 Michael Rosenbaum

Do you think it's bad to be rich or do you see it as like a way to make your life better?

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158.015 - 160.638 Unknown

Hmm. Yeah. I have to think about that one.

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160.878 - 161.639 Michael Rosenbaum

Yeah.

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161.659 - 165.983 Unknown

Okay. So we're starting to see how these two dads had totally different beliefs about money.

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166.223 - 166.384 Michael Rosenbaum

Right.

166.704 - 171.229 Unknown

But how did that actually like play out in their lives? Can you give us like a specific example?

171.449 - 179.477 Michael Rosenbaum

Sure. So Kiyosaki tells this story about how whenever they wanted to buy something, his poor dad would always say, I can't afford that.

179.677 - 179.857 Unknown

Right.

180.318 - 185.423 Michael Rosenbaum

But his rich dad would never let him say those words. He would say, how can I afford that?

Chapter 6: How does financial literacy contribute to wealth building?

185.673 - 189.179 Unknown

That is so interesting. It's just a slightly different way of saying it.

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189.219 - 190.261 Michael Rosenbaum

Yeah, but it's a big difference.

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190.321 - 190.802 Unknown

Yeah.

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191.263 - 205.268 Michael Rosenbaum

The Richard dad knew that saying I can't afford it was like a mental block. But by asking, how can I? He was making himself think of solutions and possibilities.

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205.298 - 215.088 Unknown

So it's about like changing how you ask the question. Right. Instead of just accepting that you can't do something. You're actively looking for a way to make it happen.

215.208 - 222.396 Michael Rosenbaum

Yeah. It's like shifting from a passive mindset to a proactive one. And that's something you can apply to all areas of your life, not just money.

222.676 - 223.477 Unknown

That's a good point.

Chapter 7: What role does overcoming fear play in financial decisions?

223.877 - 227.521 Michael Rosenbaum

Like if you're feeling stuck about something instead of focusing on why you can't do it.

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227.721 - 228.022 Unknown

Right.

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228.402 - 230.344 Michael Rosenbaum

Ask yourself, how can I get past this?

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230.341 - 234.387 Unknown

Yeah, it's like that saying, whether you think you can or you think you can't, you're right.

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234.667 - 235.068 Michael Rosenbaum

Exactly.

235.088 - 236.851 Unknown

Your mindset really does shape what happens.

237.051 - 248.147 Michael Rosenbaum

Absolutely. And the rich dad knew that having this proactive mindset was super important for building wealth. It's about taking control of your financial situation instead of feeling like you're just stuck with it.

249.308 - 261.384 Unknown

Okay, so we're starting to see how Rich Dad's advice was totally different from what most people think. Yeah. But did he ever give Kiyosaki any specific advice, like a step-by-step plan to get rich?

262.586 - 269.635 Michael Rosenbaum

Not exactly a step-by-step plan, but more like a way of thinking about wealth and developing that Rich Dad mindset.

Chapter 8: How can listeners start applying these financial principles today?

275.465 - 278.454 Unknown

Six lessons, that's like a roadmap to financial freedom.

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278.494 - 279.396 Michael Rosenbaum

Yeah.

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279.417 - 280.981 Unknown

Okay, I'm ready. What's the first lesson?

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281.061 - 285.113 Michael Rosenbaum

All right, so lesson number one is a big one. The rich don't work for money.

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285.394 - 285.795 Unknown

Okay.

285.815 - 287.5 Michael Rosenbaum

They make money work for them.

287.75 - 288.831 Unknown

Ooh, I like that.

288.971 - 289.392 Michael Rosenbaum

Yeah.

289.412 - 293.095 Unknown

I bet this is where the whole assets versus liabilities thing comes in, right?

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