The Money Mindset Quiz

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Questions and Answers

According to rich dad, why does ignorance about money cause greed and fear?

  • Because it increases taxes for schoolteachers
  • Because it creates a gap between the rich and the poor (correct)
  • Because it leads to poor health for the rich
  • Because it causes doctors to raise their fees

What is the consequence of doctors raising their fees, according to the text?

  • Doctors provide better healthcare services
  • Poor people have better access to healthcare
  • Healthcare becomes more affordable for everyone
  • Healthcare becomes more expensive for everyone (correct)

Why do attorneys raise their fees, according to the text?

  • To increase access to legal services for the poor
  • To match the fees raised by doctors (correct)
  • To provide better legal services
  • To reduce the gap between the rich and the poor

What is the potential consequence of the widening gap between the rich and the poor, according to the text?

<p>Collapse of civilizations (D)</p> Signup and view all the answers

Why does rich dad believe America is on the same course as other collapsed civilizations?

<p>Because Americans have not learned from history (B)</p> Signup and view all the answers

According to rich dad, what is the main cause of greed and fear?

<p>Ignorance about money (C)</p> Signup and view all the answers

What is the potential consequence of doctors raising their fees?

<p>Healthcare becomes less accessible for the poor (B)</p> Signup and view all the answers

Why do attorneys raise their fees, according to the text?

<p>To match the rising fees of doctors (D)</p> Signup and view all the answers

What is the potential consequence of the widening gap between the rich and the poor, according to the text?

<p>Collapse of civilization (D)</p> Signup and view all the answers

Why does rich dad believe America is on the same course as other collapsed civilizations?

<p>Failure to learn from history (C)</p> Signup and view all the answers

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Study Notes

Consequences of Ignorance about Money

  • Ignorance about money causes greed and fear, as people are not financially educated and make fear-based financial decisions
  • This lack of financial literacy leads to a never-ending pursuit of money, causing greed and anxiety

Consequences of Rising Professional Fees

  • When doctors raise their fees, it can lead to increased costs of healthcare, making it less accessible to the poor and middle class
  • Attorneys raise their fees to compensate for inflation and to maintain their standard of living, exacerbating income inequality

Widening Gap between Rich and Poor

  • The growing gap between the rich and the poor can lead to social unrest, crime, and potentially, the collapse of society
  • Rich Dad believes America is on the same course as other collapsed civilizations due to its rising income inequality and lack of financial education

Root Cause of Greed and Fear

  • Rich Dad believes the main cause of greed and fear is the lack of financial education, leading people to make fear-based financial decisions

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