I have been learning the importance of teaching kids about the right education. Today I want to share some thoughts with you that I had while reading the introduction to Rich Kid, Smart Kid by Robert Kiyosaki.
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Teaching Kids about the Right Education
Today I want to talk a little bit about the importance of teaching kids about money. This is about teaching your kids about the right education that they need to be successful in today's world.
I started thinking hard about this because I look back at my life, and I never got taught about money. No one told me how much you should be saving every single paycheck, how much you should put toward investments… I never had anyone in my life teaching kids about the right education when it came to finances.
I started really digging deep into this, because being in the home-based business industry that I am in, we are starting to make a lot of money and we are looking to teach our kids some wealth principles and some financial education. We want to be teaching kids about the right education that they need to pursue to be successful in today's business world.
I started buying cash flow games for our kids. I bought a bunch of Robert Kyiosaki books, including Rich Kid, Smart Kid that aids parents in teaching kids about the right education when it comes to money.
Here are some points from the introduction of Rich Kid, Smart Kid.
Based on government study of 100 people at the age of 65…
One of them is rich, four are comfortable, five are still working, 56 need government or family support and the rest are dead.
I don’t know about you, but I don’t want to be in the category with the 56 where we are relying on government support or family to take care of us at age 65. What kind of life is that? Five of them are still working their jobs and slaving away at age 65. There are only five out of one hundred that really make it – four are comfortable and one is rich. That is an insane number to me. Teaching kids about the right education when it comes to money matters should be a priority for all parents.
Teaching Kids about the Right Education – Industrial vs. Information
Robert Kiyosaki goes on to explain why and how you can avoid this. He talks about the differences between the industrial age and the information age.
During the industrial age, the employer was responsible for your retirement plan. Back in the “olden days,” the employer would give you a job and a retirement plan. That is no longer the case.
In the Information age, you as the employee are responsible for your own retirement plan. If you run out of money after the age of 65, it is your problem, not the company.
In the industrial age, you became more valuable the older you got. So, the older you were, the more valuable you were to the marketplace. Not any more…
In the information age, you actually become less valuable as you get older.
Interesting, don’t you think? The rules have changed…
During the industrial age, people were employees for life. It was just a fact of life, the school system started and people were just raised to be employees for life. That was all they knew.
During the information age, more people are now free agents. To really make it in this life, you are a free agent now, not just an employee for life.
During the industrial age, the smart kids went on to become doctors and lawyers and made the big bucks.
During the information age, the people who make the big bucks are actors, athletes and musicians. Many of the doctors and professional people are actually making less than they did during the industrial age.
In the industrial age, you could count on the government to bail you out if you and your family got in financial trouble. During the information age…
“You and I are smart enough to know, that when politicians begin to make promises to save something, chances are that what they are promising to save is already gone.” — Robert Kiyosaki
Those are some interesting statistics. One other thing that was brought out in the introduction to this book, is that they actually built the school system with a curriculum for the industrial age. There was academic education and professional education. We are in the information age, and we are still using the same curriculum created for the industrial age.
According to Robert Kiyosaki, the missing element is the education required to turn money from your profession into lifelong wealth, financial freedom and security.
Teaching Kids about the Right Education – Not Taught in School
Your children don’t know about this, because it is not taught in school. In the information age, we need financial education to really succeed and get past the hurdles of government policy and lack of retirement plans.
If you don’t want to be a part of those 56 people out of 100 who are relying on government or family at age 65, you have got to get financial knowledge and go about teaching kids the right education.
I suggest also having a home-based business to expand your horizon. Robert Kyiosaki pointed out that most people are free agents to hit their wealth these days. Becoming an athlete or actor is not in everybody’s future, but I truly believe that anyone can build a home based business.
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The most important thing that I want you to get out of this blog post is to get your kids educated. I highly recommend the book Rich Kid, Smart Kid for parents. This book is going to help in teaching kids about the right education so that they can succeed.
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Gary Parson says
Thanks, Mike. With my ten grandchild this will be helpful. Gary
Kathleen Rounsville says
This the Right Education that all kids need to be taught to be successful in life no matter what path each kid choose at adulthood!
Nicon Group of Colleges says
To get basic education is the right of every child.
Bruce Mesnekoff says
Thanks for Information about Right Education.
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