Why A students work for C students
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This is the Summary of Why A students work for C students written by Robert Kiyosaki. This is Rich Dad's Guide to Financial Education for Parents. In this book, he teaches, how to become an Entrepreneur and a Capitalist, how to use other People's money and Talent. Good Debt and Bad Debt. Watch the Video : https://www.youtube.com/watch?v=nDs4vGbrIG4&t=164s I request everyone to download the slide and watch the presentation as it has many animations and transitions that are not being shown on slideshare.
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Why A students work for C students
- 1. • Financial Education • Rich and Poor • Becoming a Capitalist and Entrepreneur • Debt can be Good • Spiritually align yourself to earning more money Summary of “Why “A” Students Work for “C” Students”
- 2. Summary of Why “A” Students Work for “C” Students -By Robert Kiyosaki CAPITALISTS ENTREPRENEURS EMPLOYEES 1. Problems in becoming an Entrepreneur. 2. Changing your perspective about Money. 3. Teaching your child financial Education. 4. Becoming a Capitalist.
- 3. Genius in Your Child SCHOOL • Safegaurd And Encourage Your Child’s Talent • Teach him Financial Education. Cashflow Once a week • Education has become a Trillion Business which Impacts every Person on this Planet. • Lack of Financial Education is the reason for our Financial Crises. Lag of 35 Years HOME • Financial Education should be taught at home.
- 4. Education Future of Education • Academic Education • Professional Education • Financial Education Read, Write, maths etc Specialised skills • A Students : Doctors, Lawyers, Engineers, CA, etc. • B Students : Mechanics, COOKS, nurses, Secretaries, etc. • Education of the future : Teaches about money Playing Monopoly with rich dad taught him: Other People’s Talent Other People’s Money EffectiveLearning Rich dad’s Teaching : By Doing and stimulating real life experience Poor dad’s teaching : by reading and listening Collecting Rent, Saturday meetings, Etc. Remember 90% Studying in Schools, Getting an MBA, Etc. Remember 10% Discussing about the money problems instead of fighting over them.
- 5. 4 biggest problems of life Age Increasing national debt The new depression Higher taxes CashFlow Quadrant
- 6. When to start your kids financial Education Age of Quantum Learning Forming Neural Pathways ASSET – Puts money in your Pocket. LIABILITIES – Takes Money from your Pocket. Rebellious Learning. They decide what to Learn. Don’t Care about the consequences. Be a part of the best team. Be a Generalist. Know little about everything. Speak the language of the Profession. Professional Learning. Each Quadrant is a Different classroom and every classroom has different teachers, so if you want to be a capitalist choose your education process carefully. This shows the performance of Parents and Teachers in the overall development of child.
- 7. Why rich people go broke The Sense of Entitlement – Government shall take care of me Content vs. Context Banks Ordinary Income – Employees – Most taxed Portfolio Income – Middle class – Minimal Tax Passive Income – capitalist – no tax
- 8. Content – Glassof water is content Context – Water is the context Education I can be rich/poor
- 9. Poor Middle Class Rich I must get good education to be rich I need a high paying job Job security is Important How much vacation time do I have I’ll never be rich Rich are bad Money is not Important Government should take care of people. I must be rich I own my Business Freedom is more important than security Take on challenges Money does not make people rich, their context does.
- 10. Why Geniuses are Generous • Generosity is the key to success • Your job as a parent is to find the environment where his Genius shines. Physiological Needs Safety Needs Belonging Needs Esteem Needs Self Actualization Needs Security , Safety Morality, creativity, Spontaneity, Problem solving, Lack of Prejudice, Acceptance of facts
- 11. Financial Statements Poor Middle class Rich Income Expenses Assets Liabilities 5000 - 50000 Loan Expenses 0 0 Income Expenses Assets Liabilities 50000 - 500000 Taxes Mortgage Car repayment savings Home Loan Car loans Student loans Credit catd Debt 401k retirement plan Income Expenses Assets Liabilities Often no job Income from Assets Businesses Realestates Paperassets commodities
- 12. businessmen / capitalist Poor people Create 100’s of jobs Provide a service to the government Build their own companies. Responsible for the losses Entitlement mentality If fired, find a new job Net worthMillionaires Brought a home in 1975 for $ 1,00,000 Today valued at $ 2.5 million Still worry about day to day living expenses Highincome millionaires Income from E & s quadrants Example : ceo’s, film stars, professional athletes Cashflowmillionaires– trulyrich Receive income from assets Do not need a job Most of the income is passive income Millionaires
- 13. HOW DEBT CAN MAKE YOU RICH debt IS GOOD DEBT IS OPM(OTHER PEOPLES MONEY) WORKING FOR YOU Good Debt Bad debt Used to acquire assets Used to acquire liabilities Makes you rich Makes you poor
- 14. taxes Government gives tax breaks to - Employers – government needs more jobs Debtors – Dollar is now a debt Real estate investors – government needs more housing Commodity producers – we need more food and oil
- 15. Financial advice vs. financial education Stay away from brokers Wall street is only place that people ride into in rolls Royce to get advice from those who take the subway -Warren buffet The seven words of money Income – ordinary , portfolio, passive Expense – taxes, liabilities Assets– business, real estate, paper assets, commodities Liabilities– mortgage, school loan, credit card debt Debt – sum of money that is owed or due cashflow– used to differentiate assets from liabilities and expenses from income Capitalgains – profit earned on sale of an asset Saving your money via Legal Entities which will protect them from the lawsuits of your friends, partners and enemies. A person should have Academic, Professional, Financial, Spiritual education. Making more Money Keeping more Money Protect more Money
- 16. Unfair Advantage The ability to transform your Money and your Life. The ability to be Generous. Lower taxes : Be in the “B” and “I” quadrants. Use debt to become Rich – Good debt makes People Rich. Bad debt makes People Poor. Expand your means – Have your Assets buy your Liabilities. Buy an Asset that buys the Porsche. Increase your Emotional Intelligence, Success Intelligence. Eg Delayed Gratification. Understand the different paths to Wealth. Be a Cashflow Millionaire. Protect your Assets, by making them Legal Entities. Eg LLC’s, C corporations, etc. Retire Young Use the law of Compensation. - Know how to Raise Capital. - Know how to Lead People. - Know how to Design Business. - Know how to use Debt to make more Money.
Editor's Notes
- 1.The Sense of Entitlement ie the government should take care of us. Medicare, Social Security, ObamaCare, etc 2.Content vs Context 3.Using bank loan to move from E and S quadrant to B and I quadrants. Ordinary Income –- Salary (Most Taxed) - Employees Portfolio Income - Shares, Bonds - Middle class Passive Income – Investments - Capitalist Frames of mind by howard Gardener: Linguistic intelligence -is the capacity to use language, our native language, and perhaps other languages, to express what's on our mind and to understand other people. Poets really specialize in linguistic intelligence, logical-mathematical intelligence - e understand the underlying principles of some kind of a causal system, the way a scientist or a logician does; or can manipulate numbers, quantities, and operations, the way a mathematician does Spatial intelligence - refers to the ability to represent the spatial world internally in our minds--the way a sailor or airplane pilot navigates the large spatial world, or the way a chess player or sculptor represents a more circumscribed spatial world. Spatial intelligence can be used in the arts or in the sciences. If you are spatially intelligent and oriented toward the arts, you are more likely to become a painter or a sculptor or an architect than, say, a musician or a writer. Bodily kinesthetic intelligence- s the capacity to use your whole body or parts of your body--your hand, your fingers, your arms--to solve a problem, make something, or put on some kind of a production. The most evident examples are people in athletics or the performing arts, particularly dance or acting Musical intelligence - e is the capacity to think in music, to be able to hear patterns, recognize them, remember them, and perhaps manipulate them Intrapersonal intelligence - e is understanding other people. Naturalist intelligence - designates the human ability to discriminate among living things (plants, animals) as well as sensitivity to other features of the natural world (clouds, rock configurations). Emotional Intelligence is Success Intelligence. Money does not make people rich, Their Context does.
- Whenever the government increases the taxes the poor and the middle class pay more in taxes, not the rich You cannot help the poor by destroying the rich You cannot help the poor permanently by doing for them what they can and should do for themselves.