Cash Richdad

I have been posting on financial education, creating sources of residual income, making investments that give you a positive cash flow and so on. I genuinely feel that life itself is all about learning and we all are students in some way or the other. Learning is an ongoing process which goes on through out our lifetime. When we stop learning or close ourselves to new things, new experiences, new ideas, new thoughts we stop our growth.

I read so much about Robert Kiyosaki , people think he is against formal education which is not true .Kiyosaki is not against it , he just points out to the lack of financial education in our systems. Finances which touch many aspects of a human life should be taken more seriously.

Learning is only possible if we have a will to learn and we are not closed to new things. Most of the big names like Bill Gates, Richard Branson, Steve Jobs, to name a few that come to my mind, started their business from an idea. That idea worked because these people believe in their ideas. They experimented with their ideas, worked on them and turned them into reality. All because of an open minded approach. Kiyosaki himself was bankrupt twice. He had the courage to be a multi millionaire again because he learnt from his mistakes.

Now it’s not necessary to reinvent the wheel again. We don’t have to make the same mistakes ourselves and then learn how not to make them. We should try and learn from the people who have already gone through the hard part, who have already tested the grounds. So we should try and get it from successful people on how they did it? How did they achieve the extraordinary? How did they overcome their battles? What made them so successful? This is a valuable thing to know and will make you do better, so be open minded and keep learning…

I would be happy to know your thoughts over it.

“Face your fears and doubts, and new worlds will open to you.” Robert Kiyosaki

Adding to the line up of books Kiyosaki released the latest one a few months back teaming up with another well known and successful man Donald Trump.

The rich may be different, but millionaires and billionaires are people, too. One of the more entertaining aspects of Why We Want You to be Rich: Two Men, One Message by Donald J. Trump and Robert T. Kiyosaki is the glimpse into the private lives and motivations of these two very wealthy men who are committed to teaching financial literacy to as many people as possible. Beyond the entertainment”and certainly more important”is the information and the primary message, which is that you need to take charge of your own financial future.

The book is divided into five parts. In the first, Trump and Kiyosaki explain how they met and decided to write the book. In the second, they explain their theories on investing and why investing to become rich is not risky but very predictable”if you know what you’re doing.

Parts three and four are worth reading and rereading. In part three, Trump and Kiyosaki share defining moments in their lives. Each chapter asks a “what did you learn from …” question, and both authors reveal significant insights into what has shaped them into the men they are today.

Responding to “What did you learn from your father?”, Kiyosaki notes: “Our traditional education did not prepare us for the real world. It prepared us to be employees. … Regardless of whether we are rich or poor, smart or not smart, the one common denominator we all have is that we use money.” To the question “What did you learn from your mother?”, Trump writes: “My mother’s advice was simple but wise. It cuts to the core and keeps me focused and well-balanced. ‘Trust in God and be true to yourself.’ It doesn’t get any better than that.”

In part four, Trump and Kiyosaki offer advice for readers at all stages and situations. No, they don’t explain step-by-step how to invest in a property or choose a stock; instead they show readers how to educate themselves and take control of their financial lives, regardless of where they are at the moment. They don’t tell you what to do; they tell you how to figure out for yourself what is best for you.

Finally, in part five, they push to you develop a plan and take action. They write: “Ninety percent of the investing public wants to be given the magic formula, the answer that will make them rich. … You will need to find your own magic formula.”

The book concludes with both Trump and Kiyosaki urging you to do some serious and perhaps even painful self-evaluation. By itself, this book can’t change your life”it’s just words on paper. But it can guide you to the plan and tools to do it yourself.

Trump and Kiyosaki, along with their co-authors Meredith McIver and Sharon Lechter, have produced one of their best works with Why We Want You to be Rich: Two Men, One Message.

So its worth thinking over it.

If there’s a topic that parents dread talking about with their kids more than sex, it’s probably money. Not so long ago, the question: ‘’How much money do you make, Mom?'’ might have elicited the brusque reply: ‘’None of your business.'’ Today things are changing. In a culture inundated with gossip about celebrity incomes, stock-market chatter, and TV shows such as Who Wants to Be a Millionaire?, family experts–and parents–believe tackling these types of queries head-on is the best policy. Even if you don’t disclose your actual earnings, you can parlay your answer into either a discussion of economic and social values, or a lesson in money management.
 

Educating kids about money is a tall order. Parents must transform an abstraction into something concrete, and then put it in its proper place in the family’s life. With so much of our identities wrapped up in how much we make, money can be a highly emotional issue. As for money skills, parents get little help from schools, which usually don’t offer instruction until high school. And schools don’t pay enough attention to financial education as Robert kiyosaki also quotes.  '’If parents don’t take the time to answer their kids’ questions about money, the school of hard knocks will,'’ says Dara Duguay, executive director of the Jumpstart Coalition for Personal Financial Literacy
 

So welcome the questions as a chance to teach. It helps to remember that your child’s age and your own comfort level will steer you to the answers
 

Don’t wait for questions to begin fiscal education. Even with a toddler, it’s not too early to dispel the notion that ATMs generate money. Each time you withdraw funds, explain that the money comes from Mommy and Daddy working, and that the bank is merely storing it for the family.
 

The time to really open your balance sheet is when your child is making choices about college, says Elissa Queen, a children’s therapist in Woodmere, N.Y. You can then dispel any mistaken assumptions your kids may have made about the family’s resources. And you can work as a team to pick a school that best suits your child’s academic needs and the family’s financial ones. And the teen years are usually when youngsters make their first foray into the working world. Many experts say a job is essential in teaching kids the value of money, as long as it doesn’t distract from the teens’ real job–school.
 

No matter what the ages of the children, parents need to be frank when finances take a turn for the worse. Children learn more by watching what their parents do than by listening to what they say. So the more consistent parents are in their own financial behavior, the better examples they’ll be. If you’re not clear yourself about what money means in your life, you’ll never give the children satisfactory answers to those thorny money questions.We should try and give the financial education to children as early as possible. And this will help them all along in anything they choose to do. They should know how money works and the importance of money.

“Academic qualifications are important and so is financial education. They’re both important and schools are forgetting one of them.” Robert Kiyosaki