Before you hate on me for saying that “savers are losers”, please note that I did not come up with this phrase. This was a term coined years ago by the legendary Mr. Robert Kiyosaki, aka Rich Dad Poor Dad.
Although I can honestly say that the book Rich Dad Poor Dad changed my life, and is what set me down the path of financial education… I hated Mr. Kiyosaki for constantly beating the drum about savers being losers.
You see, we grew up in a blue-collar home, raised by extremely hardworking parents who both came from very little. Our father immigrated here from Italy with nothing but the clothes on his back, and our mother is first generation Canadian, and born into a family of Italian immigrants who also came here with very little.
Through hard work, frugal living and extreme discipline when it came to saving money, our parents were able to provide our family a very good life. We may not have always had the latest gaming system, or the newest Air Jordan’s, and perhaps we thought it was normal to split a pop and a French fry from McDonald’s three ways, but we never felt like we were missing out on anything. In fact, we felt quite fortunate.
So, for Mr. Kiyosaki to come along and $hit on what are parents did by saying “Savers are Losers”, it struck a nerve! They worked as hard as anybody I knew, and sacrificed so much. They went from having nothing, to moving their family to a very nice upper middle-class neighbourhood, taking family vacations every year and sending three kids to University. To me, this was winning, not losing…
But what I realize now that I didn’t realize then, is that 1) Kiyosaki is a best selling author for a reason – he knows how to get a reaction from the reader; and 2) He understands the money game.
Robert Kiyosaki realized long ago that saving cash, while federal banks of the world are printing cash, is a losing formula for the party saving the cash.
In its simplest form, it’s a supply and demand issue – with lots more dollars in circulation by way of new money being created/printed, how can one believe that the dollars they have saved will grow in any meaningful way… They can’t! and they won’t! In fact, they will more than likely do the opposite of grow… they will lose!!
Okay, I know losing isn’t the opposite of growing, but it does fit in nicely to this narrative and helps me get my point across lol. The point being, Mr. Kiyosaki isn’t saying that the persona saving the money is a loser, but rather the money being saved is losing value and purchasing power every single day.
That’s why, as Cashflownaires, our goal is to put every hard-earned dollar to work in a meaningful way. Then it becomes our mission to put the proceeds from those hard-earned dollars to work….then again, the proceeds from the proceeds…. Wash, rinse and repeat!
If you’re interested in joining us on this mission of beating the money game…. Become a Cashflownaire here.
Make it a great day!
– Vince & Mike
P.S. by no means do we have the money game completely figured out, but I can assure you that the game has changed significantly and continues to change at a rapid pace. If you’re playing it the same way your parents played it, then you’re probably losing..