There are rules of money that the rich play by, and there are the rules that the other 95 percent of the population plays by. And the 95 percent learns those rules at home and in school. That is why it's risky today to simply say to a child, `Study hard and look for a job.' A child today needs a more sophisticated education, and the current system is not delivering the goods.
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Most people, working for a paycheck, are making the owner, or the shareholders richer. Your efforts and success will help provide for the owner's success and retirement.
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There was a long silence between us. It was dawning on me that I was giving my son the same advice my parents had given me. The world around us has changed, but the advice hasn't.
Getting a good education and making good grades no longer ensures success, and nobody seems to have noticed, except our children.
"Mom," he continued, "I don't want to work as hard as you and dad do. You make a lot of money, and we live in a huge house with lots of toys. If I follow your advice, I'll wind up like you, working harder and harder only to pay more taxes and wind up in debt. There is no job security anymore; I know all about downsizing and rightsizing. I also know that college graduates today earn less than you did when you graduated. Look at doctors. They don't make nearly as much money as they used to. I know I can't rely on Social Security or company pensions for retirement. I need new answers."
"Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!" by Robert T. Kiyosaki, Sharon L. Lechter
ReplyDeleteThis book and Karl Marx's Capital are identical except the conclusion.
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