Thursday, September 8, 2011

Sacred Cow 9 of 11 - Work Hard

Work Hard from Rich Dad on Vimeo.

Working hard for money is an obsolete idea which is making people poorer. As Robert said in the video "people cannot wait for Friday, and dread Sunday." Due to a lack of financial education the harder we work for money the more we pay in taxes.

A transition is moving from one place to another or from one behavior to another.  If we are ever going to Eradicate poverty and Build Wealth, through Financial Education - We must transition form working for money in the income statement.  And, work for Assets  in our financial statements.  If we can work the we will end up paying less in taxes. This was the main lesson I took away from this video.

Additionaly, I thought the example showing 1 gold coing compared to a bag of coins between 2000 and 2010 was amazing. The value of dollars is going down and buying less.  As the dollar loses value, inflation goes up…Inflation cause people to become poorer.

That is all I have for today. Let's Eradicate poverty and Build Wealth, through Financial Education!

I'll end with this question. In what way are you working smarter, rather than harder? Please leaver your comments below.