What does school teach you about money?
What type of education school-system are providing to students?
What will make you rich either going to school and learning book to become smart or rather gaining financial smartness?
Do you know: How money works and how to make it work for you?
How to learn the language of money to be successful?
Abstract
When Robert Kiyosaki was young, his poor dad always told him the best path to success was to go to school. This was and still is advice spread to young people around the globe. The problem is, what does school teach you about money? Nothing!
Robert’s rich dad, on the other hand, didn’t have a college degree. He had to drop out of school in order to help his family and run family business, which started as a local store. Yet! he was very rich and successful, eventually building a real estate empire, complete with a hotel on the beach.
The idea that school will make you a success is perpetrated everywhere all the time. What will make you rich is not going to school and learning book smarts but rather gaining financial smartness—learning how money works and how to make it work for you. You need to understand the language of money to be successful. This require financial education, which opens up a whole new world, a world where you can succeed on your own.
Unfortunately, our schools don’t teach that language. They teach you the basics, and then they either teach you a specific trade or skill, or they simply train you to be an employee.
The SEVEN Things You NEED To Learn for Your Financial FREEDOM
Step # 1: How to read a financial statement?
Robert Kiyosaki share his experiences and problems at the time when he was in Business School. At that time, the most horrible subject of all was accounting for him. The reason he sleep during accounting class and top of that when he argued with the accounting teacher, because the accounting teacher had no idea what accounting was, this is due to the fact that the teacher was not so much intelligent or somehow have no idea “how the disciple of accounting can be applied? The reason for that because the teacher never served into an organization and they even don’t have any idea how modern technique can be applied to the modern business.
FINANCIAL STATEMENT:
If you read Robert Kiyosaki book: “Rich Dad Poor Dad”, this book is all about financial statement, income statement and balance sheet of cash-flow.
How could it not be irrelevant when 99% of all people graduate from school don’t even have an idea about what is a financial statement ? and if some f them do know a little about it, this just because they probably had the same accounting teacher, who wasn’t really an accountant. He had a master’s in accountancy but he had never been an accountant so that’s why! Robert Kiyosaki has created the cash-flow board-game . According to him, accounting is the most important subject for individuals because this is what your banker wants to see your banker wants to see your financial statement. This is your report card when you leave school if you have good financial statement, bankers will give you all the money you want. He further said that bankers have never asked him for his grades or about his college. They look at my financial statement and they respond like
“You’ve all the money you want “
This point out really quickly the differences between what they’re teaching in school and what Rich Dad Teach to Robert Kiyosaki. He said that the very big difference most school teachers are like my poor dad and that’s why they always work for salary?
STEP #2: DIFFERENT TYPE OF INCOME
E = Employee
S = Small and medium enterprise.
B = Big Business Owner (more than 500 employees).
I = Investor or Insider.
CASH FLOW-QUADRANT
Employees:
What employees always say that they work for money? but they want job security paycheck and pension..
Small Business or Self Employed:
S stand for self-employed. They are small business owners doctors lawyers they work and provide services. So they are self employed.
Big Business Owner:
What big business owners ? 500 employees or more.
Investors or Insiders:
I stands for investor. It is more likely to be investor they are not just investor, they are more likely insiders.
So the difference that’s what schools are not teaching you is what’s the difference really speak and these rich people that’s the big difference.
When I was about your age, I had to make a decision, I want to become a pilot as most of my friends went to fly for the airlines, or own an Airlines or I could invest in Airlines and that’s the difference in the mindsets and skill sets you don’t just make crossings the education is extremely different on this side then on this side here you know I know most millionaires, they want a High-paying job they want to be able to pay the rent and eat and all this stuff and then you dream up the big house, a nice car and all that but that’s why 99% of Americans are broke because their heads are in the wrong spot so
STEP # 3: WHY YOU SHOULD WORK FOR ASSETS NOT FOR PAYCHECK?
This started the journey on investing. At the start of the journey on assets build up, I do remember the moment down the road where just like everybody else I was focused on the income column; get a job, get the pay raises, if you’re an hourly rate wage work more hours or raise your hourly wage so I was always focused on this. Finally after When I actually bought some investment properties the light finally went on and I’m like instead of focusing on acquiring income what if we focus on just acquiring assets that the assets go into the income process so that was a huge shift in my mindset and once that shift happened for me I don’t think about the income column anymore I just think about the asset and that’s our game called cash flow.
Most people are so busy working for money, they are so busy trying to pay their bills and liabilities. I think our assets was the counting game to get where we are now, and that is we are financially free. You should know that’s the whole thing so everybody can do this. It is not a matter of putting your head into the right column and if for me it was in 1973, when I took my first real estate investment course here I’m free you know I lost money get made money back but I have never been out of the assets. We are still practicing every single day. I’m working on a new project right now in the asset column it’s gonna put a lot of cash flow into the income column because again we’re focusing on asset column not the income column.
STEP # 4: WHY SAVERS ARE LOSERS?
MONEY COLUMN:
There are three kinds of money today that everybody should be aware.
God’s Money: Gold and Silver
God’s money is gold and silver. Most people don’t know what God’s Money look like.
Government Money:
Government money is currency, like dollar, yen to pay salaries. I called it the fake money and everybody’s working hard for it just like eating fake food or drinking fake water that’s why people are getting sick financially because they working for fake money and then those fake assets which with another part of their millennial the fake generation series.
In 1972 gold God’s money, the reason I called it God’s money is you can’t fake it. You know you can fake it with a fake ETF like a gold ETF or a silver which I don’t touch because it smells as bad as the guys print in that trap you know I mean Jesus but this is real money so you look at this here when I first started buying that; dollar was forty and today that’s sixteen dollars and this here is auto gold and the reason we bought it is most people haven’t seen our touch this God’s money. Why does this so? Because it was here when the earth was created and it’ll be here when we’re all dead and gone when you’re saving those fake dollars this will still be here. I’m concerned you’re gonna find most of my talks about the Fed so I would recommend you guys buy this stuff don’t save money don’t save government money because they’re corrupt as hell as you know save God’s money in school they compensate for a risk by telling you to memorize the right answer so in other words these kids leave young people like you leave school think, if I know the right answers then there’s no risk and it drives old guys like me crazy because everybody’s talking about Millennial’s.
STEP #5: DON’T BE AFRAID TO MAKE MISTAKES.
I love working on these programs because if you’re going to be successful you have to take some risk. Most of the young people are afraid of doing that. They are afraid of losing. They eventually end-up working all their life for someone for a salary and they have the tradition thought process which my poor dad often remind me “the best path to success was to go to school. This was and still is advice spread to young people around the globe. The problem is, what does school teach you about money? Nothing! Robert’s rich dad, on the other hand, didn’t have a college degree. He had to drop out of school in order to help run his family business, which started as a local store. Yet he was very rich and successful, eventually building a real estate empire complete with a hotel on the beach. The idea that school will make you a success is perpetrated everywhere and all the time. What will make you rich is not going to school and learning book smarts but rather gaining financial smarts—learning how money works and how to make it work for you. You need to learn to speak the language of money to be successful. That takes financial education, which opens up a whole new world, a world where you can succeed on your own terms. Unfortunately, our schools don’t teach that language. They teach you the basics, and then they either teach you a specific trade or skill, or they simply train you to be an employee.“
STEP # 6: TAXES MAKES YOU RICHER
The problem with young people that they don’t understand tax you see all over the world makes a very little difference These guys pay 40% of their money in taxes so they make $1,000 they’re going to spend $40 in taxes these guys that make $1,000 they don’t pay 60% in tax so our schools are teaching entrepreneurship but they’re not teaching them tax okay and because they’re focusing on income.
For example over here it’s 20% in tax so they make $1,000, only 200 dollars goes to tax and these guys 0%.
STEP 7: “WHAT DID SCHOOL TEACH YOU ABOUT MONEY?
The reason financial education isn’t working in our school systems that they are teaching financial education for these people who collect taxes and to really become rich you should focus on Big Business Ownership or Investment, this focus create the difference between the Rich and Poor Dad, there financial statements.
What they are teaching at school right now to work hard for more money so that you can pay more taxes. On the other hand, the rich people don’t pay taxes and as strange as that may seem and I’m talking about legal this is all over the world so that’s the big difference around one last thing which I think most Millennials understand.
I really follow the formula of McDonald’s. We have an education company that buys real estate which means we make a lot of money pay zero taxes legally what the school teach you about money nothing you know balancing a check come. When you look at this financial statement up here that’s what your banker wants to see. Your banker doesn’t care about your grades. They doesn’t care what school you went to, when you look at most of the politicians today they don’t have one of these either the US government doesn’t have one of these anymore they stop doing this because of the US government the the budget is so out of balance they can’t do anything so that’s why you know 22 years ago in 1996 I created the cash-flow board-game; the purpose of this was and still so people could teach people what our school systems will never teach you never because they don’t know it because evidence is now coming out that the school system was hijacked by the ultra-rich people and years ago and they would never teach people what I know what my rich dad taught me so that’s why most of our political leaders are broke they’re poor people you know who makes the most of the politicians they got paychecks for life they get benefits for like I think all this stuff but they’re doing a horrible job so you’re gonna depend upon the government to take care of you that’s crazy you know a lot of people don’t like Trump you know I understand why but he really understands his stuff I know because he’s my friend we wrote two books together this is how the rich think even if you hate Trump and Trump doesn’t pay taxes that’s why he doesn’t want to show us his tax returns I mean you got to be crazy so they’ll never teach you this
“people can teach people don’t expect the government to take care of”
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