As I continue reading the teachings of Kiyosaki in its “Rich Dad Guide to Investing”, here are some of his thoughts on ways of becoming rich. I am really motivated to write more quality articles especially when I see a lot of good comments from readers.
One of this was the previous article entitled “House: Asset or Liability” which so far, as of this writing, was the most commented article. This is one example that not all teachings of Kiyosaki are true. Thank you for all the readers and keep on participating by making comments.
Kiyosaki told that there are 7 ways of becoming rich. People who are rich became rich because they did one or several of these ways. Each of these ways has some price that needs to be paid.
Become Rich by marrying a rich person. Marriage ties the knot of two persons because they are bound to live together for the rest of their lives. It does not only mean tying of two lives but also of assets that’s why a couple’s assets are combined and are called “conjugal assets” or “conjugal properties”. While many of us marry a person because we love him or her, some would marry a person for his or her money. And this is where the problem starts. Marrying a person ONLY for his or her money would definitely bring a lot problem. Just imagine spending your life with someone that you don’t love. Definitely, it is a very high price that you need to pay later on in your life.
Become Rich by becoming a cheater or a crook. We all know this because there are a lot of people who became rich by becoming cheaters! And a lot of these cheaters, I must say, are politicians! Why would a candidate spend millions in his campaign where in fact he can only get a meager salary when he was already elected? Is it really because he wants to serve the public? Or because he see his power and authority as a means to amass more wealth, more money that he can definitely recoup all what he spent in his candidacy? I’m not saying all politicians are cheaters but I do think that a lot are. Now, what’s the price of this? You could be put into jail. You could lose your face to your family and friends. If ever you escaped the law, Karma in the long run will hunt you. There is always God that sees our actions. In my opinion, honesty is still the best policy.
Become Rich by inheritance. Not everyone of us are lucky to inherit wealth or money. Becoming rich by inheritance is really indeed a luck. What’s the price of it? I personally think that people who become rich by inheritance tend to easily spend what they inherited by having a lavish lifestyle. They did not work hard to earn it and so they did not know how to value it. I’m not saying all but usually this is what people tend to do when they became rich by inheritance.
Become Rich by winning the lottery. Just as becoming rich by inhertiance is a luck, becoming rich by winning a lottery is indeed also a luck. As a mathematics graduate, winning a lottery is really a gamble. I can compute the probability of winning the lotto by using the principles of counting such as permutations, combinations and factorials. And I would say that it is very very close to zero. In fact, I would continue to say that even a rich person who could probably spend by betting on each and every possible outcome of the winning number just to win the lotto could end up at a loss. He could have probably spent more on betting than the jackpot prize! Living your life with odds of one in probably a hundred million is definitely a high price to pay.
Become Rich by becoming a famous movie star or sports star. I do notice that a lot of shows that makes a person a star are becoming popular nowadays and one of these is the famous American Idol. Here in the Philippines, there are a lot of shows such as Pinoy Big Brother, Fear Factor, Pinoy Dream Academy, etc. What all these shows have in common? They all give exposure to potential stars who could probably become a famous movie star or model in the future earning huge amounts of income in their contracts. I won’t doubt when I see a lot of people lining up on their auditions. What’s the price you have to pay for this? You need to deal with a lot of stress! You have to deal with a lot of people whether good or bad! You need to attend practice and a lot of rehearsals! And if you became famous person, your life would also be an open book to the public open to scrutiny and criticisms which can potentially affect your life as well.
Become Rich by being greedy. I think that greed is an element of human nature. Each and everyone of us wants to have material things in life that we could probably enjoy. But becoming too much greedy is already bad and in fact considered in the bible as one of the capital sins. People greedy with their money and their assets usually means they are also tight with other things. When asked to help other people or to teach other people, they often do not have the time. They always say: “I got mine and I’m not going to share it. I’ll just keep it.” What’s the price of becoming greedy? Kiyosaki refers to the Newton’s Third Law of Motion: “For every action, there is always an equal reaction.” If you want a smile, first give a smile. The same thing goes that if you want money, first give money.
Become Rich by being a cheap. This last way of becoming rich is somewhat contradicting to the idea of frugality. Kiyosaki mentioned that “To live poor and die poor is a tragedy. But to live poor and die rich is insanity.” Basically, from what I understand, you must also give yourself a break by treating yourself once in a while. Money is meant to be enjoyed. You must enjoy the fruits of your labor. What’s the price of this? As Kiyosaki mentioned, you could die rich BUT insane!
These are the 7 ways of becoming rich as mentioned in Rich Dad’s Guide to Investing. But there is one ultimate way of becoming rich and that is to “earn more and desire less”. How could we earn more? By educating ourselves and becoming financially literate. After all, the best things in life does not involve any cost and that is to hear, to see, to feel, to smell, to love, and to laugh.