The True Financial Mindset of "Rich Dad" in the Trump 2.0 Era

“If ‘Rich Dad Poor Dad’ was an elementary school,
This book, “Why the Rich Get Richer,” is a graduate school!”

In an era of increasing uncertainty and widening disparities between the rich, middle class, and poor, the book "Why the Rich Get Richer," which contains the essence of "true financial education," has been published by Minumsa.
This book is part of the million-selling "Rich Dad Poor Dad" series, which has sold over 40 million copies worldwide. It reveals that the difference between the rich and the poor, who become even richer when the middle class and the poor are in crisis, lies in the financial mindset of the rich who actively utilize taxes, market crashes, and debt.
It also leads to practical financial education by awakening new financial thinking methods such as 'financial literacy', 'Porsche economics', and 'phantom income', which are reading and understanding the language of money.

Kiyosaki points out that the traditional formula for success—"go to a good school, get a job, work hard to pay off debt, and invest in the stock market for the long term"—is no longer valid today.
Due to globalization, manufacturing jobs have already moved to countries like China, India, and Mexico, and even office jobs are being threatened by the advancement of robotics technology.
The author diagnoses that the era of stimulating the economy through monetary policies that print money indefinitely is over, and emphasizes that in today's world where only the rich are getting richer, it is important to shift to a rich mindset that "doesn't work for money."

Throughout the book, the author mentions President Trump, who, like himself, achieved success by receiving practical financial education from a "rich father."
In fact, Kiyosaki and President Trump have written two books together, emphasizing the need for true financial education, with a philosophy that emphasizes the need to "teach a man to fish" rather than "give him a fish." They are deeply concerned about the current state of financial education.
The author argues that even President Trump cannot solve every individual's financial difficulties, so each individual must increase their financial literacy and financial IQ to take charge of their own lives.
As we enter the era of Trump 2.0, this book will serve as a clear guide for those who wish to view the current situation not as a crisis but as a new opportunity to cultivate a wealthy mindset.

No one wants a market crash because a crash is fatal to the poor and the less educated.
But no one can stop the crash.
Crashes occur because the government props up the market.
A crash is caused by a number of events beyond the control of any one person.
Even the president can't stop the crash.

How we respond to and prepare for the coming crash will be crucial factors in determining our financial future in the coming years.
The choice is yours.
Would you like to prepare yourself through the financial education presented in this book?
--- p.41

This book is the graduate school version of Rich Dad Poor Dad.
This book explains what true financial education is and why the rich get richer.
The difference between the rich, the poor, and the middle class lies in education, but unfortunately, it is not the kind of education we learn in school.

True financial education must include some financial history.
This financial crisis is not a random event; it has been festering for over a century, since the Federal Reserve and the U.S. tax system were created in 1913.

--- p.48

“I have ten thousand dollars. What should I do with it?”

Countless people from all over the world ask me this question.
Everyone is looking for an easy answer, like a magic pill.
The amounts ranged from $1,000 to $2.5 million, but the questions I was asked were always the same.
“What should I do with my money?”

Then I answer like this.
“Please don’t say, ‘I don’t know anything about money.’
If you don't know what to do with your money, there are people all over the world who can tell you the answer.
Most of them would say something like this:
“Give me that money.”
--- pp.59-60

People who are not financially literate are unaware of what is happening in the global economy.
They tend to blame others for their money problems.
Most of them blame the rich for their money problems.
Most people in a financially literate society believe that they are victims of the tax system.
That's why people get angry when they hear that the rich pay almost no taxes.
Rather than finding ways for the rich to pay less in taxes (or to minimize the amount of taxes they have to pay), these people call the rich “thieves” and “scammers.”
--- p.194

Like many things in life, financial education is a process that involves the following steps:

· Financial education improves financial literacy.

· Financial literacy develops financial problem-solving skills.

· Solving financial problems makes you smarter about your finances.

· And people who are smarter about finance become richer.

Q: Does this mean that the more money problems I solve, the richer I become?

A: Yes.
The rich can often solve financial problems that the poor and middle class cannot.

Q: So, if we don't solve our money problems, we'll become poorer?

A: Yes.
If you don't address that problem, it will pile up like unpaid bills and cause big problems.
--- pp.196-197

Money is language.
Learning how to become rich is a lot like learning a foreign language.
Because it takes time, practice, and effort.
Poor people speak the same language.
They use the language of poverty.
They think and communicate in the language of the poor, and they use that language as well.
The phrases they use most often are “I can’t afford it” and “I can’t do it.”
Unless we change these words, little else will change.
--- p.212

Phantom income from debt is the time and money saved by borrowing money instead of working to earn it, paying taxes on it, and saving.
In the example we looked at earlier, we explained that the $20,000 deposit was actually $35,000 of ordinary income.
The difference of $15,000 is phantom income, and that much money and time has been saved.
If you know how to use debt as money, you can get rich faster.
--- pp.245-246

The cash flow generated from the assets will cover the monthly payments on the Porsche loan.
And after a few years, when the Porsche loan is paid off, Kim and I will own the Porsche, the assets, and the cash flows from those assets.
We also received phantom income from the appreciation, depreciation, and repayment of debt on our Porsche and other investment assets.
Kim understood my plan to purchase this Porsche and actually went through the deal with me.

--- p.334