Money Vault - The difference between the Poor and the Rich
The Money To The Masses Podcast
Damien Fahy
4.8 • 589 Ratings
🗓️ 27 May 2026
⏱️ 51 minutes
🧾️ Download transcript
Summary
Welcome to the Money Vault, our new midweek show where we revisit classic, evergreen episodes from the Money to the Masses archives.
On this week's episode, Damien highlights the inequality that exists between people on low incomes and those that are wealthy. He explains how the game is rigged in favour of those with high incomes, in terms of access to specialist advice, financial products, and even utilities. He highlights the key points from the popular book "Rich Dad, Poor Dad" and finishes with a thought-provoking analogy of how both low and high earners are treated after they have been paid.
Check out this week's podcast article on the Money to the Masses website to see the full list of resources from this week's show.
Resources:
- Sign up to our weekly newsletter
- MTTM Podcast Episode 355 - The difference between the poor and the rich
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Transcript
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| 0:00.0 | Hello and welcome back to the Money Vault, our new weekly Wednesday show where we dig into the archives to bring you one of our classic episodes from back in the day. |
| 0:06.9 | Daniel, welcome back. How you doing? |
| 0:08.3 | I'm good, Andy, and this week's show was one of the, I think most love shows we did. |
| 0:13.9 | It definitely got one of the largest reactions from our audience. |
| 0:17.9 | And we look at the difference between the rich and the poor so it was inspired by |
| 0:23.0 | the famous book rich dad poor dad but i go on to explain a lot of things that differ between rich people |
| 0:29.4 | and poor people and i use the word poor in averted commas but people on lower incomes and you will see |
| 0:35.7 | how life is unfair for one of a better word, if you are poor. |
| 0:41.2 | And we talk about a whole host of things in this particular episode. Now, normally when we do |
| 0:44.8 | these money vaults, we trim the podcast down and the segments are relatively short, about 10 to 15 |
| 0:50.7 | minutes long. But this one was a whole episode and it's so good that we couldn't really |
| 0:56.7 | pull it apart without damaging it. It's actually better in the hole. Now when you listen to this |
| 1:01.5 | episode there are a few things that have changed. I'm just looking at some notes I made here. |
| 1:06.2 | Things to do with national insurance rates have changed. We have had the mansion tax come in, although that is |
| 1:12.3 | something that's happening in the future, if it ever does. And also, it doesn't really impact the rich |
| 1:18.0 | all that much. We also had some changes to business property relief. And so there was some |
| 1:24.4 | tweaking that's going on, because I think there has been a general shift in the public vibe about some of the lack or the lack of taxation on the wealthy. |
| 1:35.8 | So this episode was recorded back in January 2020. So it just shows you a lot of the things are still relevant. |
| 1:43.9 | And one thing in particular, |
| 1:45.0 | where we're seeing energy prices rise, they are increasingly taking up more and more of the |
| 1:51.1 | percentage income of people on lower incomes. That's something we mentioned in the podcast. So do |
| 1:56.3 | enjoy the show. Do leave a comment afterwards and we'll see you on the other side. |
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