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| "What happens when a corporation announces a downsizing?"
"People get laid off," I saidUnemployment goes
up
"Yes, but what happens to the company, in particular a public company on the stock exchange?"
"The price of the stock usually goes up when the downsizing is announced," I said"The market likes it when a company reduces its labor costs, either through automation or just consolidating the labor force in general
"That's right," he said"And when stock prices go up, people like me, the shareholders, get richerThat is what I mean by a different set of rulesEmployees lose; owners and investors win
Robert was describing not only the difference between an employee and employer, but also the difference between controlling your own destiny and giving up that control to someone else
"But it's hard for most people to understand why that happens," cartier pasha women's watch I said"They just think it's not fair
"That's why it is foolish to simply say to a child, `Get a good education,' " he said"It is foolish to assume that the education the school system provides will prepare your children for the world they will face upon graduationEach child needs more educationAnd they need to know the rulesThe different sets of rules
"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," he said"And the 95 percent learns those rules at home and in schoolThat 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 goodsI don't care how many computers they put in the classroom or how much money schools spendHow can the education system fendi big bags teach a subject that it does not know?"
So how does a parent teach their children, what the school does not? How do you teach accounting to a child? Won't they get bored? And how do you teach investing when as a parent you yourself are risk averse? Instead of teaching my children to simply play it safe, I decided it was best to teach them to play it smart
"So how would you teach a child about money and all the things we've talked about?" I asked Robert"How can we make it easy for parents especially when they don't understand it themselves?"
"I wrote a book on the subject, " he said
"Where is it?"
"In my computerIt's been there for years in random piecesI add to it occasionally but I've never gotten around to put it all togetherI began writing it after my other book became a best seller, but I never finished the new one
And in pieces it wasAfter imitation chanel handbag reading the scattered sections, I decided the book had merit and needed to be shared, especially in these changing timesWe agreed to co-author Robert's book
I asked him how much financial information he thought a child neededHe said it would depend on the childHe knew at a young age that he wanted to be rich and was fortunate enough to have a father figure who was rich and willing to guide himEducation is the foundation of success, Robert saidJust as scholastic skills are vitally important, so are financial skills and communication skills
What follows is the story of Robert's two dads, a rich one and a poor
one, that expounds on the skills he's developed over a lifetimeThe contrast between two dads provides an important perspectiveThe book is supported, edited and assembled by meFor any accountants who read this book, suspend your academic book canvas gucci bags knowledge and open your mind to the theories Robert presentsAlthough many of them challenge the very fundamentals of generally accepted accounting principles, they provide a valuable insight into the way true investors analyze their investment decisions
When we as parents advise our children to "go to school, study hard and get a good job," we often do that out of cultural habitIt has always been the right thing to doWhen I met Robert, his ideas initially startled meHaving been raised by two fathers, he had been taught to strive for two different goalsHis educated dad advised him to work for a corporationHis rich dad advised him to own the corporationBoth life paths required education, but the subjects of study were completely differentHis educated dad encouraged Robert to be a smart personHis rich dad encouraged Robert to know how to hire smart j12 chanel watch pe |
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