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How I Was Freed From the Rat Race

horizontal income money ratrace risk taxes Feb 14, 2022

I met Robert Kiyosaki at my first national Gobundance meeting in Lake Tahoe.  I had no idea who he was and I had never heard of or read his famous book, Rich Dad Poor Dad.

(There were too many cameras to know the correct one to look at - just another thing I needed to learn!)

I was the sole doctor in a room of a hundred real estate entrepreneurs pushing myself into discomfort to make some change in my life from doing the same thing I had done for 20 years.

 

What I learned was new to me and shocking about rich people that was the opposite from everything I had known or believed through my years in pre-med and medicine.

 

 

  1. The rich don’t work for money. Their money works for them.  

    I knew that in medicine, doctors work harder and longer to make money.

    Do you work for money or does your money work for you?
     

  2. Your greatest wealth is your education.

    I knew my education and training gave me knowledge and skills for my specialty but I always considered my greatest wealth was how much money I have in the bank.

  3. It’s not how much money you make. It’s how much money you keep.

    Like most doctors, I worked to earn more money but did not think about taxes as something I could change or the greatest destroyer of wealth.

    Do you measure how much money you earn or how much money you take home?

  4. The rich acquire assets which make you money. Not a liability which costs you money.

    I knew many rich people who had mansions, expensive cars and fancy watches but did not understand investing.

  5. The rich focus on businesses that do not require their presence because they are managed or run by other people.

    If I have to work there, it’s not a business.  I had my own solo practice and did every position to save money and give me control but it was really a job where I was a prisoner.

  6. The rich OWN from corporations which earn, spend, then pay taxes in contrast to the poor who work FOR corporations and earn, pay taxes and then spend.

    Corporations have tax advantages of paying taxes on profit after expenses. Doctors search for the highest paying job without understanding the benefits of owning their own business and lowering their taxes.

    Do you have a job or a business?

  7. In the real world, outside of academics, something more than just grades is required.

    Guts, chutzpah, risk, and discomfort decide your future more than grades. Physicians excel in getting good grades, honors, reviews and stars which makes them outstanding students and employees but not free and not rich.

  8. The road to wealth is through increasing your monthly cash flow from assets so that your cash flow exceeds your expenses and you are out of the rat race and financially free.

    Doctors work longer and harder to try to win the rat race where they are imprisoned.

    Are you free or stuck?

  9. Work to learn, not for money. 

    Doctors trade their time for dollars and work for money.

  10. To my shock and dismay, I learned that as a doctor, I lived in the worst tax quadrant. I paid more taxes than any other earner.  

 

 

I learned, became empowered, and began to break out of the medical mindset and the shackles that kept me imprisoned in more of the same life.  

 

The definition of insanity is doing the same thing over and over and expecting a different result.  The first step to break that cycle is to stop doing what you are doing.  

 

But doctors are stuck because everything that caused them to be successful to become a doctor, such as working harder, alone, IS doing the same thing over and over. 

 

Listening to Robert Kiyosaki was my electroshock therapy out of the cult of the average to change my life.  

 

And before I could change my life, I had to change my mind.  I had to change how I thought.  

 

What I heard from Robert Kiyosaki that day depressed me.  Then, motivated me.  And ultimately changed my life forever.  

 

Breaking out of the medical mindset shares all I have learned and what I continue to learn to change how I think and how I live.

 

So you can be free from being stuck in the rat race and live that rich life that you always dreamed of.

 

Do you want a change?

Do you work for money or does your money work for you?

Do you measure how much money you earn or how much money you take home?

Do you have a job or a business?

Are you free or stuck?

 

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