Why not university graduates will be rich, but people with financial education

2024 Author: Malcolm Clapton | [email protected]. Last modified: 2023-12-17 03:44

We present to your attention an excerpt from the new book by Robert Kiyosaki "", published by the publishing house "Potpourri". Previously, a person received an education, got a job, retired young, and then lived happily ever after. But these times have sunk into oblivion. Kiyosaki analyzes the past and the present and tells what the future holds for the world of finance. In his opinion, people with financial education will have a second chance to become rich.

What's the point in going to school and learning almost nothing about money? Why should you go to school, look for a job, work for money and still know nothing about money?

Education every day has a powerful impact on our lives. That is why some of its species were inaccessible to slaves until the Civil War and even today remain inaccessible to women in many countries of the world.

The rich don't work to get paychecks. As rich dad used to say, the person who signs the paycheck has tremendous power over who gets it. Plus, the more you earn working for money, the more taxes you pay. Perhaps that is why Steve Jobs' salary was only one dollar a year.

Your wealth is being stolen, taking advantage of your financial illiteracy, in this case, calling your liabilities assets. What's the point in getting out of debt when the rich use debt to get richer?

On the left side of the picture, there are savings holders who deposit their after-tax dollars in a bank. Fractional reserve banking reduces the purchasing power of their savings because it multiplies the amount of money in circulation by issuing $ 10 to borrowers with financial education (who invest the loans they receive) for every dollar invested by the savings holders. The fractional reservation system is a "money-printing machine." Every bank has it.

What is financial education?

If we accept the fact that money is rubbish, then it becomes clear why financial education is the direct opposite of traditional education received in educational institutions.

The essence of financial intelligence is to stay on the edge of a coin by observing both sides, obverse and reverse, and then decide what is best for you.

In 1973, I returned from Vietnam to Hawaii. My duty was the Marine Corps Air Base at Kaneohe on the island of Oahu. At that time, according to the contract with the Marine Corps, I had one and a half years to serve.

I turned to both of my dads with a request to tell me what to do next. I loved flying, I loved the marines, but the war was over and I had to move on. Poor dad told me to go back to school, get an MBA and maybe even a Ph. D.

Rich dad encouraged me to attend seminars on real estate investing.

This is a prime example of opposites in education.

Poor dad advised me to go back to school so that I could get a high-paying job and a stable paycheck. He advised me to work for money.

Rich dad encouraged me to learn how to use debt to generate tax-free cash flow from assets.

I decided to follow the advice of both dads and enrolled in an MBA course at the University of Hawaii and a three-day seminar on real estate investing. After listening to the seminar program, I bought my first cash-generating asset and dropped out of university. I was 26 years old and I was beginning to understand the differences between a paycheck and cash flow, debt and taxes.

Education is an extremely important word. And today it is more important than ever.

For billions of people, the answer to today's economic crisis is to "go back to school." But let me ask you, “Is this the best answer for you? Can traditional education give you a second chance in life?"

When you go to school, you are taught to work for money. Financial education provides the knowledge necessary to acquire assets that generate cash flow.