RICH DAD POOR DAD | S5 – E40 | LESSON VII | Stories of Failures

In my own life, I’ve noticed that winning usually follows losing. Before I finally learned to ride a bike, I first fell down many times. I’ve never met a golfer who has never lost a golf ball. I’ve never met people who have fallen in love who have never had their heart broken. And I’ve never met someone rich who has never lost money.

Rich Dad Poor Dad
  • Riding a bike
  • Women
  • Track & Field
  • Video Games (Blitz 2003)

“Texans don’t bury their failures. They get inspired by them. They take their failures and turn them into rallying cries. Failure inspires Texans to become winners. But that formula is not just the formula for Texans. It is the formula for all winners.”

“I always tried to turn every disaster into an opportunity.” John D. Rockefeller

If you hate losing, play it safe. If losing makes you weak, play it safe. Go with balanced investments. If you’re over 25 years old and are terrified of taking risks, don’t change. Play it safe, but start early. Start accumulating your nest egg early because it will take time.

But if you have dreams of freedom—of getting out of the Rat Race—the first question to ask yourself is, “How do I respond to failure?” If failure inspires you to win, maybe you should go for it—but only maybe. If failure makes you weak or causes you to throw temper tantrums—like spoiled brats who call attorneys to file lawsuits every time something doesn’t go their way—then play it safe. Keep your daytime job. Or buy bonds or mutual funds. But remember, there is risk in those financial instruments also, even though they may appear safe.

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