Why Losing Your Job Is An Opportunity
The idea that a job is an important part of your personal security is a big part of what I call the Rich Dad Scam #2, ‘Get a good job’.
Many people look at investing and entrepreneurship as risky. But the reality is that being an employee is the least secure position to be in.
You don’t have to look very far to see the current state of employment—millions have lost their jobs due to the pandemic—maybe even you or your loved one has lost their job.
There’s this odd phenomenon happening in the economy, however. The unfortunate truth is that while millions are out of work and struggling to make ends meet, the rich are getting richer.
Entrepreneurs and business owners are able to experience record profits because they can control their bottom line. This time they’ve done so through cuts and layoffs.
It’s unfortunate that they are choosing to hoard cash and cut jobs while experiencing so much prosperity. But that is their right, regardless if it’s the right thing for the country and economy.
The gap between the rich and the poor is widening, and the middle-class is shrinking. If anything, this downturn has proved the importance of having control. As an employee, you have no control. You are at the mercy of your boss and your company. During this pandemic, many employees found out that even a high salary doesn’t mean security.
If you are one of the millions who have found themselves without a job, my advice is to take this time to figure out how not to rely on others as your sole source of income.
Start With Your Mindset
Have you ever looked at someone successful and thought, “I wish I could do that. But I can’t because I’m not talented enough, smart enough, rich enough, pretty enough, lucky enough…” You get the idea. Fill in the blank.
We often view those who have achieved success as being gifted with extraordinary powers or luck that we ourselves don’t possess. If you find your thoughts traveling along this line of thinking, here’s a quote to consider:
“Don’t let life discourage you; everyone who got where he is had to begin where he was.” —Richard Evans
Just let that sink in for a moment. Everyone starts out with challenges, even the most successful people. Overcoming those challenges and reaching one’s goals despite the odds stacked against them, is what propels some people to success.
But for those who buy into the excuses about why they can’t achieve something, their thoughts become a self-fulfilling prophecy.
Your dreams are important and worth pursuing. You can achieve them if you develop a creative mindset instead of an excuse mindset. Instead of saying, “I can’t do that,” ask yourself, “How can I do that?” This simple shift in your thinking will open your world to new ideas and new possibilities.
Get A Financial Education
When you go to school you learn to work for money. But a real financial education teaches you to acquire assets that produce cash flow. Once you learn how to invest for cash flow, you’ll never have to work a day in your life again.
One way to start your financial education is to play the CASHFLOW® board game. Kim and I developed the game in 1996 because we wanted a way to teach as many people as we could to exit the rat race just as we had years before.
Many people think I am giving them a sales pitch when I suggest that they play the CASHFLOW game at least 100 times and then teach 100 people how to play the game. Many think that I only want their money.
While sales are important to The Rich Dad Company, my primary reason for recommending that people play our CASHFLOW game at least 100 times—and teach 100 people—is because that is how my rich dad taught his son and I.
The simple lessons around money that I learned from my rich dad and Monopoly were the foundation I needed to eventually become rich. Along the way, I learned a lot of other lessons that led to being a successful investor. So when Kim and I developed the board game, we used our real-life experiences—including losing a job—into the game.
The goal of the game is simple. Escape the Rat Race of your 9-to-5 job by using a variety of investment strategies to build an arsenal of assets (and avoid liabilities, called Doodads) to help propel you onto the fast track, where real wealth is built.
In the process, you learn the valuable lessons my rich dad taught me about money, as well as the lessons I learned over a career of investing and building great wealth.
Like my rich dad, I too encourage people to make as many mistakes as they can before doing the real thing and using real money.
With this in mind, make learning about money a priority today. Get the financial education you need to succeed, and most importantly, take action on what you learn.
A Second Chance
If you are one of the millions who have experienced joblessness this past year, you have a shot at a second chance.
A second chance in life requires a person to have the courage to see what most people cannot see. A second chance requires a person who dares to be creative, a person who can come up with multiple answers to solve problems, a person who can accept facts and isn’t prejudiced.
A second chance requires self-esteem, confidence, achievement, respect for others as well as earning the respect of others.
In a single word, self-esteem requires courage. The word courage is derived from the French word le coeur, which means heart. Courage does not come from the brain. The world is filled with highly educated “brains” that lack the courage to venture into the unknown or take risks—because courage comes from the heart, not the brain.
A second chance requires knowing the difference between what the brain sees and what the mind sees. A second chance is not about being right or having the right answers.
A second chance is about taking action, making mistakes, correcting your course, and bouncing back from failure until you succeed.
Editor, Rich Dad Poor Dad Daily