Myths Of The Poor And Middle Class Lyrics

So continuing on in the vein of the idea that the middle class and the rich think exactly the opposite I'd like to go into a few myths that the middle class has and maybe give a rich person's point of view as to why they're myths and why maybe you should make them myths

Myth number one is the importance of a safe secure job

As I said earlier my mom and dad really believed in job security simply because they were raised in the era of the Depression

Now if you look around in the information age the issue is not job security

There's plenty of jobs

If you want a job people are begging for workers right now

We have an economic explosion going on and we really need people with jobs

In fact people are now going out to bid for their services

The problem with a safe secure job number one is many times you're selling your time and your freedom

There are many people I talk to today because they're being paid $50,000, $200,000 a year the price for that is they have to work longer hours they can't see their children

And the number one reason my rich dad said don't get a safe secure job is people with a job pay the highest percentage in taxes

And those are some of the myths about job security is that it actually traps you

It actually traps you because the harder you work the more you pay in taxes the bigger liability you buy so you have to work harder

And eventually the things that really count to you in your life your children free time you know time to do other things that's the price you pay for job security

Myth number two my poor dad always said save money and my rich dad said to invest money

My poor dad thought savings was smart and investing was risky

Let me explore the myth about saving money

The problem with saving money is again the same problem you have with having a job

You're taxed on your interest on your savings

The other thing too is your savings are losing value the longer it sits in the bank

Because it's losing money to depreciation or inflation

It's losing value

There's a popular myth amongst many writers and people who speak today

They say the way to get rich is by being frugal and that's one way to get rich or being cheap

You know so there's people who are saying save money cut up your credit cards invest for the long term in your 401K and all this and that's a very middle-class way of looking at it

The problem with trying to get rich by being cheap as my rich dad would say at the end of the day even if you're rich you're still cheap

And the world has always hated rich cheap people

If you look at our literature you know there was Charles Dickens the story of A Christmas Carol I think it was at Christmastime of Ebenezer Scrooge

Ebenezer Scrooge is a classic example of a rich person who became rich by being cheap

And the world hates cheap rich people yet the popular notion amongst the great middle-class right now is cut up your credit cards and live below your means

I hate living below my means

I hate cutting up my credit cards

I'd rather be rich

So the problem with buying that idea that the way to get rich is by being cheap is that your face looks bad after a while too

You ever seen somebody who's cheap that looks kind of scrunched up?

You know they're not happy

They have all this money but they're still cheap

The third myth I want to explode or explore and give you an opposite point of view on is many people say do what you love and the money will follow

Well the problem with doing what you love is that you're doing it

And the trouble with doing what you love if you're really good at it more people want you to do it for them

So you get tired

I have seen so many people doing what they love and all day long they keep doing more and more and doing it and doing it and doing it

And all they do is get more tired

That doesn't make sense to me

If you want to be rich you have to learn to have other things other people or other vehicles do it for you

You can still do what you love ie give away your real gift

For example once I understood that what my rich dad said was true and I wrote my book I basically put down what I did and I put it in a book

I made more money by putting it in a book than by doing it

I used to teach and teach and teach and I loved it but all it did was make me tired

By writing a book I teach more people and I make more money but I do it with less effort and less time