Thursday, January 21, 2010 - It was my turn to be lectured"Get with the times!... |
| It was my turn to be lectured"Get with the times! Look around; the richest people didn't get rich because of their educationsLook at Michael Jordan and MadonnaEven Bill Gates, who dropped out of Harvard, founded Microsoft; he is now the richest man in America, and he's still in his 30sThere is a baseball pitcher who makes more than $4 million a year even though he has been labeled `mentally challenged' "
There was a long silence between usIt was dawning on me that I was giving my son the same advice my parents had given meThe 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 doYou make a lot of money, and we live in a huge house with lots of toysIf I follow your advice, I'll wind up like you, working harder and chloe paddington handbag chocolate harder only to pay more taxes and wind up in debtThere is no job security anymore; I know all about downsizing and rightsizingI also know that college graduates today earn less than you did when you graduatedThey don't make nearly as much money as they used toI know I can't rely on Social Security or company pensions for retirementHe needed new answers, and so did IMy parents' advice may have worked for people born before 1945, but it may be disastrous for those of us born into a rapidly changing worldNo longer can I simply say to my children, "Go to school, get good grades, and look for a safe, secure job
I knew I had to look for new ways to guide my children's education
As a mother as well as an accountant, I have been concerned by the lack of financial education our children receive in schoolMany of today's youth have credit cards before they leave high school, yet they have never had a course in money dior saddle or how to invest it, let alone understand how compound interest works on credit cardsSimply put, without financial literacy and the knowledge of how money works, they are not prepared to face the world that awaits them, a world in which spending is emphasized over savings
When my oldest son became hopelessly in debt with his credit cards as a freshman in college, I not only helped him destroy the credit cards, but I also went in search of a program that would help me educate my children on financial matters
One day last year, my husband called me from his office"I have someone I think you should meet," he said"His name is Robert KiyosakiHe's a businessman and investor, and he is here applying for a patent on an educational productI think it's what you have been looking for
Just What I Was Looking For
My husband, Mike, was so impressed with CASHFLOW, the new educational product that Robert Kiyosaki balenciaga designer was developing, that he arranged for both of us to participate in a test of the prototypeBecause it was an educational game, I also asked my 19-year-old daughter, who was a freshman at a local university, if she would like to take part, and she agreed
About fifteen people, broken into three groups, participated in the testIt was the educational product I had been looking forBut it had a twist: It looked like a colorful Monopoly board with a giant well-dressed rat in the middleUnlike Monopoly, however, there were two tracks: one inside and one outsideThe object of the game was to get out of the inside track-what Robert called the "Rat Race" and reach the outer track, or the "Fast Track As Robert put it, the Fast Track simulates how rich people play in real life
Robert then defined the "Rat Race" for us
"If you look at the life of the average-educated, hard-working person, there is a similar pathThe child is coco chanel hobo bag born and goes to schoolThe proud parents are excited because the child excels, gets fair to good grades, and is accepted into a collegeThe child graduates, maybe goes on to graduate school and then does exactly as programmed: looks for a safe, secure job or careerThe child finds that job, maybe as a doctor or a lawyer, or joins the Army or works for the governmentGenerally, the child begins to make money, credit cards start to arrive in mass, and the shopping begins, if it already hasn't
"Having money to burn, the child goes to places where other young people just like them hang out, and they meet people, they date, and sometimes they get marriedLife is wonderful now, because today, both men and women workTwo incomes are blissThey feel successful, their future is bright, and they decide to buy a house, a car, a television, take vacations and have childrenThe happy bundle arrivesThe demand for cash is canvas gucci bags enormo |
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