Page 271

Bonus FAQs Without financial education, most people cannot move on. Rather than move on, they live in the past, clinging to financial values that are obsolete. Many parents still tell their children to “Go to school to get a good job” at a time when jobs are fluid, moving to the lowest-labor-cost countries. They continue to advise their kids to “Save money” at a time when central banks are printing trillions. And many continue to stuff money into their retirement plans at the exact moment in history when millions of baby boomers begin withdrawing their money from their retirement plans. As I predicted in Rich Dad’s Prophecy, the perfect financial storm is still coming. Rather than be a victim, you can take the initiative to improve your financial education—a move that gives you the unfair advantage of training your mind to see this time of economic crisis and turmoil as an opportunity to get further ahead, rather than fall behind and have your wealth ripped from you.

You Can Change the Future Your second unfair advantage is that you can be part of the solution to the challenges that our world faces. The financial crisis of 2007 actually began a long time ago. It started in 1913 when the Federal Reserve Bank was created. In 1913, the Internal Revenue Service was also created when the Sixteenth Amendment to the U.S. Constitution was ratified. Both acts violated the spirit of the Constitution of the United States. Was this a coincidence? I doubt it. In 2011, money is no longer money. Money stopped being money in 1971. Today, money is debt. Today, for every dollar printed, the IRS must tax the taxpayer to pay for the principal and the interest on that printed dollar. This was the plan in 1913. Print money, and tax the taxpayer for every dollar printed. Today, the taxpayer pays two taxes: One is direct taxes, and the other is inflation. And taxes and inflation are increasing. 262

Profile for Jamiel Cotman

Unfair advantage ebook  

by Rich Dad, Robert Kiyosaki

Unfair advantage ebook  

by Rich Dad, Robert Kiyosaki

Profile for jfcotman
Advertisement