Middle Class Conversation
Posted on January 19, 2006 - Filed Under Philosophy |
There’s a new character being introduced into my blog today. His name shall be Google. I call him this because he rants at least twice a week that "If I had bought Google at $185 per share, I’d be a jillionaire!!" All in all, he’s a good guy.
I will preface this conversation by saying this: If you have read the Rich Dad, Poor Dad (RDPD) books, then you will find this dialog entertaining. I know I did.
Google and I were having lunch. During this time, we usually chat about ideas regarding just about anything. On this day, I was telling him the latest on my real estate stuff.
Google: (bites burrito) "So you have a choice to make."
Clifford: "That’s right. I can either sell the houses or keep them and take the equity out."
Google: "If you keep the houses, how can you get at enough to get your next house?"
Clifford: "I’ll have to raise my income level. I will-"
Google: "-get another job."
Clifford: (smiling) "That’s interesting. Why would I get another job?"
Google: "That’s what we do."
I’m stunned because this is exactly what the author of RDPD talks about. People with middle class mentality raise their income level by going after a higher paying job. They, in turn, wind up paying more taxes and after a few months find themselves back in the same position they were before.
Clifford: (shakes head) "That is Middle Class thinking for ya."
Google: "What were you thinking?"
Clifford: "Renting out the front house as well."
Google: "The front house? The one you’re living in now?"
Clifford: "Yep. I know I could easily get X amount a month for that house."
Google: "If you rent out the front house, where are you going to live? Your car?"
Clifford: "Minor detail."
In the RDPD book, the author writes that "rich people mentality" involves creating assets which produce passive income. If one wants to increase their income, create an asset to do it. In this particular case, I want my asset to produce more passive income.
I am particularly proud of myself. When I asked myself how I could increase my income, the thought of getting another job never crossed my mind.
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2 Responses to “Middle Class Conversation”
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Well said, Clifford!
Ha!! I could make passive income by winning a bet that the burrito “Google” was eating was specifically a BRC burrito from El Pollo Loco. Any takers? I’ll give you 10 to 1 odds!
So where are you living now Cliff? I guess as long as you have a bottle of Balvenie 21, living in your car would have a bit of class.
Might be a bit challenging to stir up the crab bisque in such cramped quarters though…