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 RICH DAD POOR DAD

Intro:

20 Years... 20/20 Hindsight IT WAS 20 YEARS AGO TODAY...

The Beatles released the Sgt. Pepper's Lonely Hearts Club Band album on June 1, 1967. It was an immediate commercial and critical success, spending 27 weeks at the top of the albums chart in the UK and 15 weeks at number one in the United States. Time magazine declared Sgt. Pepper's "a historic departure in the progress of music." It won four Grammy Awards in 1968 as well as Album of the Year the first rock album ever to receive that honor.

Rich Dad Poor Dad was released 20 years ago, on my 50th birthday, on April 8, 1997. Unlike The Beatles' story, the book was not an immediate commercial success. It was not a critical success. In fact, the book's release and the firestorm of criticism that followed was quite the opposite.

Rich Dad Poor Dad was originally self-published because every book publisher we approached turned my book down. A few rejection slips offered comments like "You do not know what you are talking about." I learned that most publishers are more like my highly-educated poor dad, than my rich dad. Most publishers disagreed with my rich dad's lessons on money... as did my poor dad.

20 Years... 20/20 Hindsight

Twenty Years Today

In 1997, Rich Dad Poor Dad was a warning, a book of lessons about the future.

Twenty years later, millions of people around the world are more aware of my rich dad's warnings and his lessons about the future. With 20/20 hindsight, many have said that his lessons were prophetic... predictions A few of those lessons are: come true.

Rich Dad's Lesson #1: "The rich don't work for money."

Twenty years ago, a few publishers turned my book down because they did not agree with rich dad's number one lesson.

Today, people are more aware of the growing divide between the rich and everyone else. Between 1993 and 2010, over 50 percent of the increase in the national income in the United States went to the wealthiest one percent. Since then, things have only gotten worse. Economists at the University of California found that 95 percent of the income gains between the years 2009 and 2012 also went to that wealthiest one percent.

The lesson: The increases in income are going to entrepreneurs and investors, not to employees not to the

people who work for money.

Rich Dad Lesson: "Savers are losers."

Twenty years ago, most publishers vehemently disagreed with this lesson from rich dad. For the poor and middle class, "saving money" is a religion, financial salvation from poverty and protection from the cruel world. For many people, calling savers "losers" is like taking god's name in vain.

Rich Dad Poor Dad

The lesson: A picture is worth a 1,000 words. Take a look at the chart of 120 years of the Dow Jones Industrial Average and you will see why and how savers became losers.

The chart shows there are have been three massive stock market crashes in the first 10 years of this new century. The chart below illustrates these three crashes.

120 Years of the Dow

20 Years... 20/20 Hindsight

In 2007 there were an estimated $700 trillion in financial derivatives.

Today, it is estimated there are $1.2 quadrillion in financial derivatives. In other words, the real problem has gotten bigger, not better.

Rich Dad Lesson: "Why the rich pay less in taxes."

Twenty years ago, a few publishers criticized Rich Dad Poor Dad for disclosing how and why the rich taxes. One that that lesson was illegal. pay less in

Ten years later, in 2007, President Barack Obama was running for re-election against former Governor Mitt Romney. When it was disclosed that President Obama paid approximately 30% of his income in taxes and Governor Romney paid less than 13% in taxes, Mitt Romney began the downhill slide that would cost him the election. Taxes, again, were a focal point in the 2016 U.S. Presidential election.

Rather than find out how people like Mitt Romney and President Donald Trump pay less in taxes legally, the poor and middle class get angry.

While President Trump promises to reduce taxes for the poor and middle class, the reality is the rich will always pay less in taxes. The reason the rich pay less in taxes goes to rich dad's lesson number one: "The rich don't work for money." As long as a person works for money, they will pay taxes. back

Even when Presidential candidate Hillary Clinton was promising to raise the taxes on the rich, she was to raise the taxes on those with high incomes-people like doctors, actors, and lawyers-not the real rich. promising

1895-2015 period

The first crash was the dotcom crash around the year 2000. The second and third crashes were the real estate crash of 2007, followed by the banking crash of 2008.

Rich Dad Poor Dad

Saving the Rich

Between the years 2000 to 2016, in the name of saving the economy, the banks of the world kept cutting interest rates and printing money. While our leaders want us to believe they were saving the world, in reality, the rich were saving themselves and threw the poor and middle class under the bus.

Today, interest rates in many countries are below zero, which is why savers are losers. Today the biggest losers are the poor and middle class, the people who work for money and save money.

Rich Dad Lesson: "Your house is not an asset.

Twenty years ago, in 1997, every publisher who sent me a rejection slip criticized rich dad's lesson that "your house is not an asset."

Ten years later, in 2007 when subprime borrowers

began to default on their subprime mortgages, the world's

real estate bubble burst and millions of homeowners found

out the truth in that lesson the hard way. Their house was

not "an asset."

The Real Problem

Most people do not know that the real estate crash was not really a real estate crash.

Poor people did not cause the real estate crash. The rich caused the real estate crash. The rich created financially-engineered products known as derivatives products Warren Buffett has called "weapons of mass financial destruction." When the financial weapons of mass destruction started to explode, the real estate market crashed... and poor, subprime borrowers were blamed.

20 Years.... 20/20 Hindsight

In 2007 there were an estimated $700 trillion in financial derivatives.

Today, it is estimated there are $1.2 quadrillion in financial derivatives. In other words, the real problem has gotten bigger, not better.

Rich Dad Lesson: "Why the rich pay less in taxes."

Twenty years ago, a few publishers criticized Rich Dad Poor Dad for disclosing how and why the rich pay less in taxes. One stated that that lesson was illegal.

Ten years later, in 2007, President Barack Obama was running for re-election against former Governor Mitt Romney. When it was disclosed that President Obama paid approximately 30% of his income in taxes and Governor Romney paid less than 13% in taxes, Mitt Romney began the downhill slide that would cost him the election. Taxes, again, were a focal point in the 2016 U.S. Presidential election.

Rather than find out how people like Mitt Romney and President Donald Trump pay less in taxes legally, the poor and middle class get angry.

While President Trump promises to reduce taxes for the poor and middle class, the reality is the rich will always pay less in taxes. The reason the rich pay less in taxes goes to rich dad's lesson number one: "The rich don't work for money." As long as a person works for money, they will pay taxes. ; back

Even when Presidential candidate Hillary Clinton was promising to raise the taxes on the rich, she was promising to raise the taxes on those with high incomes-people like doctors, actors, and lawyers-not the real rich.

Rich Dad Poor Dad

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Twenty Years Ago

Although Rich Dad Poor Dad was not an immediate success, like The Beatles' Sgt. Pepper's album, Rich Dad Poor Dad did make The New York Times bestseller list by the year 2000 and stayed on that list for nearly seven years. Also in the year 2000, Oprah Winfrey called. I was on Oprah! for the entire hour, and, as they say, "the rest is history."

Rich Dad Poor Dad has become the number one personal finance book in history, with sales of the Rich Dad series of books estimated at nearly 40 million copies worldwide.

Was There Really a Rich Dad?

Millions have asked, "Was there really a rich dad?" To answer that question, you can listen to rich dad's son, Mike... when he was a guest on the Rich Dad Radio Show. You can listen to that program by going to Richdadradio.com

Rich Dad Graduate School

Rich Dad Poor Dad was written as simply as possible, so that almost everyone could understand my rich dad's lessons.

For those who want to learn more, as part of the 20 year celebration, I wrote, Why the Rich Are Getting Richer What Is Financial Education... Really?

Why the Rich Are Getting Richer goes into greater, more specific detail on what rich dad really taught his son and me when it came to money and investing.

20 Years... 20/20 Hindsight

Why the Rich Are Getting Richer is Rich Dad Poor Dad for graduate students... it's Graduate School for Rich Dad students.

A Warning... and an Invitation

While I did my best to keep Why the Rich Are Getting Richer as simple as possible, what the rich really do is not easy. Or easy to explain. What the rich really do requires real financial education, financial education not taught in our schools.

I suggest reading Rich Dad Poor Dad first, then, if you want to learn more, Why the Rich Are Getting Richer may be for you.

Thank you... for 20 Great Years

To all our readers, past, present, and future... all of us at The Rich Dad Company say, "Thank you... for 20 great years."

It is our mission to elevate the financial well-being of humanity... and that starts with one life and one person at a time.

Introduction

RICH DAD POOR DAD

Having two dads offered me the choice of contrasting points of view: one of a rich man and one of a poor man.

I had two fathers, a rich one and a poor one. One was highly educated and intelligent. He had a Ph.D. and completed four years of undergraduate work in less than two years. He then went on to Stanford University, the University of Chicago, and Northwestern University to do his advanced studies, all on full financial scholarships. The other father never finished the eighth grade.

Both men were successful in their careers, working hard all their lives. Both earned substantial incomes. Yet one always struggled financially. The other would become one of the richest men in Hawaii. One died leaving tens of millions of dollars to his family, charities, and his church. The other left bills to be paid when he died.

Both men were strong, charismatic, and influential. Both men offered me advice, but they did not advise the same things. Both men believed strongly in education but