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Older Child Adoption Blog

08/09/07

Rich Dad Poor Dad

Posted by : Cindy Bodie in Older Child Adoption Blog at 05:49 pm , 354 words, 118 views  
Categories: Adoptive Families, Challenges
I harp a lot about money around here. I have to do so as usually what I’ve said ballooned through my kid’s minds and out their ears. If you spend more than you make you will be in trouble. If you have a minimum wage job you cannot qualify for a 2008 car loan. Simple things that I feel I was born knowing when in reality my parents taught me daily; something my kids obviously lacked.

I’d picked this book up Rich Dad Poor Dad by Robert T. Kiyosaki, I’d watched him on a CNBC show, The Millionaire Inside, one night and I was transfixed. He feels that people have learned to work for money while in school, but have never learned to have their money work for them.

I’ve given each of my 39 kids $25 to open a savings account when I adopted them. The interest rate is minuscule, but I’ve tried to teach the kids to just watch it grow while they do nothing. They add money over the years and one daughter who grew up to work in a bank after college socked hundreds of dollars away and bought a car, my birth daughter paid her way to Europe at age 16 and bought a car as did other kids of mine.

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On the flip side, I’ve had other kids cash their Savings Bonds before maturity, run up credit card debts and have their cell phones shut off. I’m still struggling to teach them about money. I’ve also had to steer some of my kids to CCCS while I’ve watched other kids buy their house.

I’m fascinated by the subject, deeply believing that it’s not really about the money…it‘s a mindset. Kiyosaki defies the myth that you need to earn a high income to become rich. Again, it’s how one thinks and what one does with their money.

Everything one does seems to revolve around money, it limits us or it frees us.

I’ve just begun reading this book and I know I’ll have more to say.

Comments, Pingbacks:

Comment from: miriam [Member] Email · http://www.growingjwards.blogspot.com
I think Dave Ramsey has a unique approach to debt and money: he doesn't believe we should have debt at all, and certainly not to the extent people do these days. He's Christian based, but you don't have to be his flavor to use his tools. There's a radio show, classes at churches and books.
PermalinkPermalink 08/09/07 @ 17:53
Comment from: Cindy Bodie [Member] Email · http://older-child.adoptionblogs.com
Yes, I agree and I absolutely ADORE his work and Larry Burkett as well.
PermalinkPermalink 08/09/07 @ 18:38
Comment from: AdoptionBlogs Editor [Member] Email · http://editor.adoptionblogs.com
Kiyosaki's books are awesome!
I grew up in a cash poor home and my parents have always had that mindset - and taught us to have that mindset. (They can't retire - they'll work all their lives just to get by.)

After reading Kiyosaki's books, my life changed completely. It really is an amazing revelation for someone who wasn't raised thinking that way!
PermalinkPermalink 08/10/07 @ 05:57
Comment from: Cindy Bodie [Member] Email · http://older-child.adoptionblogs.com
Lisa, interestingly enough Kiyosaki also receives a good bit of negative press which is absolutely ridiculous. It's the crabs trying to pull the others back into the boiling pot syndrome.
PermalinkPermalink 08/10/07 @ 08:40
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