Sharing Daily Discoveries About Personal Finance And Business Topics

Chapter 14

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What Did You Learn from Your Father

Starting in this chapter, the themes of the stories now revolve around the defining moments in one’s life that made you who you are. For Robert Kiyosaki, he talks about how his dad was an educator who wanted to help make a difference in the education system. His dad was a typical person who followed the system of going to school and getting a great education and then finding a good career. Feeling that there was so much more that could be done, his dad decided to run for lieutenant governor of Hawaii as a Republican. Unfortunately, Hawaii was mostly a democratic state and he was defeated very badly. This also resulted in a lot of his friends and colleagues to disassociate with him due to fear that they will be viewed in negative light as well. From then on, he had to change his career and while he tried to run an ice cream franchise, he failed at that as well and was forced to live on social security.

When Robert came back from Vietnam, he saw the type of state his father was in and how for a man who followed the system ended up like that. Despite that, his father still told Robert to get a good education and then to find a good government job as he was still an advocate supporter of education. In Kiyosaki’s view, seeing how traditional education has somewhat failed his father, he knew that he should start learning from his friend’s dad who he refers to as his “Rich Dad” as that person was one of the wealthier people in Hawaii despite having a lack of formal education.

For Donald Trump, he talks about how his father lost his dad at the age of 11 and had to do a lot of small things to make a living to help take care of the family. After high school, he became a carpenter and was very successful at it. The interesting note was that his company was called Elizabeth Trump & Son as he wasn’t old enough to sign various legal documents which his mother had to do. Knowing all this, when Donald Trump grew up he knew that the expectation for himself would be so much greater as he had so much more than what his dad had and so there was simply no excuse not to be even more successful which was the defining moment for him

These were both interesting stories I thought. I think what I learned mostly from my dad was to spend money wisely. If you ever saw one those people in the mall or store who always want some kind of discount or deal for buying a lot that would be like my dad. On top of that, he would often get upset if I bought something just to find out that it was cheaper elsewhere or if the price dropped a few days after. While I’m personally not hesitant in buying things that I really want, I guess I have grown up to always look for the best value in things as I don’t want to be ripped off and have learned to have patience in making large decisions.

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