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Summary: Strategies forfinancial head start
Review: This is not just another book in the rich dad series, this is a book that all loving parents must have to truly empower their children to greatness. Kiyosaki offers some striking facts to support the advice he learned from his Rich Dad.For example, Kiyosaki starts off by citing an article in the Arizona Republic with the following statistic: "About 700,000 seniors will be cut from Medicare Choice HMO's according to a survey released earlier this month by the American Association of Health Plans." Kiyosaki goes on to cite another statistic based on a study done by the Department of Health, Education and Welfare, of every one hundred people at age sixty-five, one is rich, four are comfortable, five are still working, fifty-six are needing government support or family support, and the rest are dead. Interesting is the first time I heard this statistic was back in 1974 when I was in the insurance business. The late Earl Nightengale also frequently stated this in his excellent classic "The Strangest Secret" which was released back in the 1960's. Things have not changed much in over 40 years and not likely to unless we change. Kiyosaki goes on to say that this book is not about becoming the one rich person out of a 100 (although that is a noble goal)It is about the fifty-six who still need someone else to support them. Kiyosaki then points out that many people erroneously say they won't need much money when they retire because their living expenses go down. Nothing could be further from the truth because of the rising costs of health care. Kiyosaki then asks; "Did these senior citizens education prepare them for the financial challenge at the end of their lives?" Kiyosaki then goes on to say that the reason he is making a point of the plight of these seniors in a book aimed at a child's education is two fold. One, it is your child who will ultimately have to pay for the health care of these millions of senior citizens if they cannot pay for it themselves. And number two is actually another question: Will your childrens education prepare them to be financially secure enough not to need government financial and medical support at the end of their working days? Kiyosaki says the rules have changed in the new economy. In the Industrial Age, the rules were go to school, get good grades, find a safe secure job with benefits, and stay there all your life. After 20 years or so you retire, and the company and the government take care of you for the rest of your life.
Some people are still living with an Industrial Age mentality. Now, in the Information Age, the rules have changed. The rules are now go to school, get good grades, find a job, and then retrain yourself for that job. Find a new company and a new job and retrain. Find a new company and a new job amd retrain. Find a new company and a new job and retrain, and then hope and pray
you have enough money set aside to last you much longer than age sixty-five because you will live well beyond the age of sixty-five. Some other facts that Kiyosaki points out In the Industrial Age, the employer was repsonsible for your retirement. In the Information Age, the employee is responsible. If you run out of money after age sixty-five, it is your problem, not the company's problem. In the Industrial Age you became more valuable the older you got.
In the Information Age you become less valuable the older you get. In the Industrial Age, people were employees for life.
In the Information Age, more people are now free agents. Rich Kid Smart Kid is divided into three parts, 18 chapters and 280 pages of must reading for every parent who cares for their child and for parents who are still stuck with Industrial Age beliefs. In part 1, Kiyosaki talks about the educational process of his other dad, his real dad who was smart but poor. Kiyosaki says that if it wasn't for Poor Dad, he would have dropped out of school and never gone to college. In part 2, Kiyosaki offers some action steps, academically and financially, parents can take to begin preparing their child for the real world. In pat 2, Kiyosaki explains the lessons he learned from his Rich Dad. Part 2 has some simple, concrete examples of things parents can do to give their child a financial head start into the real world of jobs and money. Part 3 is about the latest technological breakthroughs in education that will enhance parent's ability to find their child's natural learning ability and natural genius. Part 3 is about giving your child an academic head start. Rich Kid Smart Kid will help you help your children bring out their maximum potential. It is a book that your children will cherish the rest of their lives. Highly recommended.
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